Contact Information
202-452-2575
christopher.erceg@frb.gov

Fields of Interest
Monetary Policy
Open Economy Macroeconomics
Macroeconomics

Education
Ph.D., Macroeconomics, The University of Chicago, 1993
B.A., Macroeconomics, Political/Social Thought, The University of Virginia, 1986

Professional Experience
Board of Governors of the Federal Reserve System, 1993-present
Adjunct Professor, Columbia University, 2006-2006
Adjunct Professor, Johns Hopkins University, 2000-2003
Adjunct Professor, Georgetown University, 2000-2003
Adjunct Professor, Syracuse University, 1998-2001

Selected Publications

• The Transmission of Domestic Shocks in the Open Economy (NBER WP #13613) (with Christopher Gust and David Lopez-Salido), International Finance Discussion Papers 906. Washington: Board of Governors of the Federal Reserve System, 2007.
• Oil Shocks and External Adjustment (with Martin Bodenstein and Luca Guerrieri), International Finance Discussion Papers 897. Washington: Board of Governors of the Federal Reserve System, 2007.
• Three Great American Disinflations (NBER WP #12982) (with Michael Bordo, Andrew Levin, and Ryan Michaels), International Finance Discussion Papers 898. Washington: Board of Governors of the Federal Reserve System, 2007.
• Monetary Business Cycle Models -- Sticky Prices and Wages (for New Palgrave Dictionary of Economics 2nd Edition (ed.). New York: Palgrave Macmillan Ltd, forthcoming.
• Sticky Wages and Staggered Wage Setting (for New Palgrave Dictionary of Economics 2nd Edition) (ed.). New York: Palgrave Macmillan Ltd., forthcoming.
• ''Trade Adjustment and the Composition of Trade'' (with Luca Guerrieri and Christopher Gust), Journal of Economic Dynamics and Control (forthcoming).
• ''Optimal Monetary Policy with Durable Consumption Goods'' (with Andrew Levin), Journal of Monetary Economics, vol. 53 (October 2006), pp. 1341-1359.
• ''SIGMA: A New Open Economy Model for Policy Analysis'' (with Luca Guerrieri and Christopher Gust), International Journal of Central Banking, vol. 2 (March 2006), pp. 1-50.
• ''Can Long-Run Restrictions Identify Technology Shocks?'' (with Luca Guerrieri and Christopher Gust), Journal of the European Economic Association, vol. 3 (December 2005), pp. 1237-1278.
• ''Expansionary Fiscal Shocks and the U.S. Trade Deficit'' (with Luca Guerrieri and Christopher Gust), International Finance, vol. 8 (December 2005), pp. 363-397.
• ''Imperfect Credibility and Inflation Persistence'' (with Andrew Levin), Journal of Monetary Economics, vol. 50 (2003), pp. 915-944.
• ''Comment on: Monetary rules for small, open, economies,'' Journal of Monetary Economics, vol. 50 (July 2003), pp. 1147-1152.
• ''The Choice of an Inflation Target Range in a Small Open Economy,'' American Economic Review Papers and Proceedings, vol. 92 (May 2002), pp. 85-89.
• ''Money, Sticky Wages, and the Great Depression'' (with Michael Bordo and Charles Evans), American Economic Review, vol. 90 (December 2000), pp. 1447-63.
• ''Comment on "Re-examining the Contribution of Money and Banking Shocks to the U.S. Great Depression"'' (with Michael Bordo and Charles Evans), NBER Macroeconomics Annual 2000 (November 2000), pp. 227-237.
• ''Optimal Monetary Policy with Staggered Wage and Price Contracts'' (with Dale Henderson and Andrew Levin), Journal of Monetary Economics, vol. 46 (October 2000), pp. 281-313.
• Tradeoffs between Inflation and Output Gap Variances in an Optimizing-Agent Model (with Dale Henderson and Andrew Levin), International Finance Discussion Papers 627. Washington: Board of Governors of the Federal Reserve System, 1998.
• Nominal Rigidities and the Propagation of Monetary Disturbances, International Finance Discussion Papers 590. Washington: Board of Governors of the Federal Reserve System, 1997.