Olivier Loisel’s website Research papers

Research papers
Policy papers

On financial economics
On macroeconomics
On monetary economics

Curriculum vitae
Contact information

Works in Progress

A Banking Theory of the Price Level (with B. Diba)
Monetary-Policy Exit Strategies (with B. Diba)
Efficient Risk and Banking Regulation (with B. Diba)
The Coordination of Stabilization Policies
Non-Superinertial Policy-Instrument Rules

Recent unpublished papers

The Implementability and Implementation of Feasible Paths by Stabilization Policy
Manuscript, May 2019

      ┗ Matlab and Dynare programs to create and check Figures 1 and 2:
            ISP_Fig1.m, ISP_Fig1_check.m, ISP_Fig1_check_ramsey.mod, ISP_Fig1_check_rule.mod
            ISP_Fig2.m, ISP_Fig2_check.m, ISP_Fig2_check_ramsey.mod, ISP_Fig2_check_rule.mod

Pegging the Interest Rate on Bank Reserves: A Resolution of New Keynesian Puzzles and Paradoxes
Manuscript, January 2019 (with B. Diba)

      ┗ Matlab and Dynare programs to create Figures 1-2 and B.1-B.5:
            IOR_Figures_1_and_B1_to_B5.m, IOR_Figure_2.m, IOR_Data_Figure_2.mod

Monetary Policy and Herd Behavior: Leaning Against Bubbles
Manuscript, July 2012 (with A. Pommeret and F. Portier)

Published papers

Optimal Monetary and Prudential Policies
American Economic Journal: Macroeconomics, January 2017, Vol. 9, No. 1, pp. 40-87 (with F. Collard, H. Dellas, and B. Diba)

Liquidity Shocks, Equity-Market Frictions, and Optimal Policy
Macroeconomic Dynamics, September 2015, Vol. 19, No. 6, pp. 1195-1219 (with H. Dellas and B. Diba)

Discussion of “Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area”
International Journal of Central Banking, June 2014, Vol. 10, No. 2, pp. 237-247

To Be or Not To Be in Monetary Union: A Synthesis
Journal of International Economics, March 2011, Vol. 83, No. 2, pp. 154-167 (with L. Clerc and H. Dellas)

Bubble-Free Policy Feedback Rules
Journal of Economic Theory, July 2009, Vol. 144, No. 4, pp. 1521-1559

Central Bank Reputation in a Forward-Looking Model
Journal of Economic Dynamics and Control, November 2008, Vol. 32, No. 11, pp. 3718-3742

Endogenously Asymmetric Demand Shocks in a Monetary Union
Journal of Economic Integration, December 2005, Vol. 20, No. 4, pp. 746-770

Why Was the Euro Weak? Markets and Policies
European Economic Review, Papers and Proceedings, May 2001, Vol. 45, No. 4-6, pp. 988-994 (with D. Cohen)

Coordination, Cooperation, Contagion and Currency Crises
Journal of International Economics, April 2001, Vol. 53, No. 2, pp. 399-419 (with P. Martin)

Les effets de la coordination et de la coopération internationales sur le déclenchement des crises de change spéculatives
Revue Économique, March 2001, Vol. 52, No. 2, pp. 233-248 (with P. Martin)

Old unpublished paper

Testing the Augmented Solow Growth Model: An Empirical Reassessment Using Panel Data
INSEE Working Paper No. G2001/05, April 2001 (with C. Audenis, P. Biscourp, and N. Fourcade)