Callum Jones

Principal Economist
Monetary Affairs
Federal Reserve Board

callum.j.jones@frb.gov

Curriculum Vitae

Google Scholar

Github

Disclaimer: The views on this website are my own and not those of the Federal Reserve System or the Federal Reserve Board.

Working Papers

• Deeds Not Words: Inflation in the United States, Japan and Chile (with Mariano Kulish and Juan Pablo Nicolini)

• Nonlinear Inflation Dynamics in Menu Cost Economies (with Andres Blanco, Corina Boar and Virgiliu Midrigan)

• Nonlinear Dynamics in Menu Cost Economies? Evidence from U.S. Data (with Andres Blanco, Corina Boar and Virgiliu Midrigan)

• The Inflation Accelerator (with Andres Blanco, Corina Boar and Virgiliu Midrigan)

• Supply Chain Constraints and Inflation (with Diego Comin and Robert Johnson)

• A Structural Measure of the Shadow Federal Funds Rate (with Mariano Kulish and James Morley)
  Download Latest Shadow Rate Estimate

• Credit Cycles, Fiscal Policy, and Global Imbalances (with Pau Rabanal)
  Appendix
  Journal of International Economics, Conditionally Accepted

• Priors and the Slope of the Phillips Curve (with Mariano Kulish and Juan Pablo Nicolini)

• Unanticipated Shocks and Forward Guidance at the ZLB
  Appendix

Published and Forthcoming Papers

• Is There a Stable Relationship between Unemployment and Future Inflation? (with Terry Fitzgerald, Mariano Kulish and Juan Pablo Nicolini)
  Appendix
  AEJ: Macroeconomics, Forthcoming

• Import Constraints (with Diego Comin and Robert Johnson)
  American Economic Review: Papers and Proceedings

• Aging, Secular Stagnation and the Business Cycle
  Appendix
  Review of Economics and Statistics, Forthcoming

• Household Leverage and the Recession (with Virgiliu Midrigan and Thomas Philippon)
  Appendix
  Econometrica, 2022

• Yield Curve Control and Zero Interest Rate Policy in a Small Open Economy (with Mariano Kulish)
  Australian Economic Review, 2022

• Entry Costs and Aggregate Dynamics (with German Gutiérrez and Thomas Philippon)
  Appendix, 2019 Version
  Journal of Monetary Economics, 2021

• Optimal Mitigation Policies in a Pandemic: Social Distancing and Working from Home
  (with Thomas Philippon and Venky Venkateswaran)
  Review of Financial Studies, 2021

• International Spillovers of Forward Guidance Shocks (with Mariano Kulish and Daniel M. Rees)
  Appendix Github Journal of Applied Econometrics, 2021

• A Graphical Representation of an Estimated New Keynesian Model (with Mariano Kulish)
  Applied Economics, 2016

• Long-term Interest Rates, Risk Premia and Unconventional Monetary Policy
  (with Mariano Kulish)
  Journal of Economic Dynamics and Control, 2013

• Detection of Anticipated Structural Changes in a Rational Expectations Environment
  (with Luis Uzeda)
  Applied Economics, 2013

• Return to Wine: A Comparison of the Hedonic, Repeat Sales, and Hybrid Approaches
  (with James Fogarty)
  Australian Economic Papers, 2011

• House Price Measurement: The Hybrid Hedonic Repeat-Sales Method
  Economic Record, 2010

Notes and Other Papers

• Gensys C++ mex Function and Julia Comparison
  matlab files

• A Practical Introduction to DSGE Modeling with Dynare
  matlab files

• Extracting Rational Expectations Model Structural Matrices from Dynare
  matlab files

• The Rise of Corporate Market Power and its Macroeconomic Effects
  IMF World Economic Outlook (WEO), 2019, Chapter 2

• The External Balance Assessment Methodology: 2018 Update
  IMF Working Paper, 2019

• The Secular Stagnation of Investment
  (with Thomas Philippon)

• Demographics, Old-Age Transfers and the Current Account
  (with Mai Chi Dao)