Laurence M. Ball

Department of Economics
Johns Hopkins University
Baltimore, MD 21218
Tel: 410/516-7605
Fax: 410/516-7600

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: EFG , ME
NBER Affiliation: Research Associate
Institutional Affiliation: Johns Hopkins University

NBER Working Papers and Publications

November 2019A Phillips Curve for the Euro Area
with Sandeep Mazumder: w26450
January 2019The Nonpuzzling Behavior of Median Inflation
with Sandeep Mazumder: w25512
December 2016Understanding Inflation in India
with Anusha Chari, Prachi Mishra: w22948

Published: Ball, Laurence & Chari, Anusha & Mishra, Prachi, 2016. "Understanding Inflation in India," India Policy Forum, National Council of Applied Economic Research, vol. 12(1), pages 1-45. citation courtesy of

July 2016The Fed and Lehman Brothers: Introduction and Summary
November 2014A Phillips Curve with Anchored Expectations and Short-Term Unemployment
with Sandeep Mazumder: w20715


May 2014Long-Term Damage from the Great Recession in OECD Countries

Published: Laurence Ball, 2014. "Long-term damage from the Great Recession in OECD countries," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 11(2), pages 149-160, September. citation courtesy of

January 2013Okun's Law: Fit at Fifty?
with Daniel Leigh, Prakash Loungani: w18668
February 2012Ben Bernanke and the Zero Bound

Published: Laurence Ball, 2016. "Ben Bernanke And The Zero Bound," Contemporary Economic Policy, Western Economic Association International, vol. 34(1), pages 7-20, 01. citation courtesy of

August 2011Unemployment in Latin America and the Caribbean
with Nicolás De Roux, Marc Hofstetter: w17274

Published: Laurence Ball & Nicolás Roux & Marc Hofstetter, 2013. "Unemployment in Latin America and the Caribbean," Open Economies Review, Springer, vol. 24(3), pages 397-424, July. citation courtesy of

May 2011Inflation Dynamics and the Great Recession
with Sandeep Mazumder: w17044

Published: Laurence Ball & Sandeep Mazumder, 2011. "Inflation Dynamics and the Great Recession," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(1 (Spring), pages 337-405. citation courtesy of

June 2010The Performance of Alternative Monetary Regimes

Published: “The Performance of Alternative Monetary Regimes,” in Friedman and Woodford (eds.), Handbook of Monetary Economics , North Holland Press, 2011.

July 2009Policy Responses to Exchange-Rate Movements

Published: Laurence Ball, 2010. "Policy Responses to Exchange-rate Movements," Open Economies Review, Springer, vol. 21(2), pages 187-199, April. citation courtesy of

March 2009Hysteresis in Unemployment: Old and New Evidence
November 2006Has Globalization Changed Inflation?
September 2006Fiscal Remedies for Japan's Slump
in Monetary Policy with Very Low Inflation in the Pacific Rim, Takatoshi Ito and Andrew K. Rose, editors
May 2005Fiscal Remedies for Japan's Slump
December 2004Does Inflation Targeting Matter?
with Niamh Sheridan
in The Inflation-Targeting Debate, Ben S. Bernanke and Michael Woodford, editors
March 2003Does Inflation Targeting Matter?
with Niamh Sheridan: w9577

Published: Bernanke, Ben S. and Michael Woodford (eds.) The Inflation-Targeting Debate (National Bureau of Economic Research Studies in Income and Wealth). University Of Chicago Press, November 1, 2006.

February 2003Monetary Policy for Inattentive Economies
with N. Gregory Mankiw, Ricardo Reis: w9491

Published: Ball, Laurence & Gregory Mankiw, N. & Reis, Ricardo, 2005. "Monetary policy for inattentive economies," Journal of Monetary Economics, Elsevier, vol. 52(4), pages 703-725, May. citation courtesy of

September 2002Short-Run Money Demand

Published: Ball, Laurence, 2012. "Short-run money demand," Journal of Monetary Economics, Elsevier, vol. 59(7), pages 622-633. citation courtesy of

May 2002The NAIRU in Theory and Practice
with N. Gregory Mankiw: w8940

Published: Ball, Laurence and N. Gregory Mankiw. "The NAIRU In Theory And Practice," Journal of Economic Perspectives, 2002, v16(4,Fall), 115-136. citation courtesy of

February 2002The Fed and the New Economy
with Robert Tchaidze: w8785

Published: Ball, Laurence and Robert R. Tchaidze. "The Fed And The New Economy," American Economic Review, 2002, v92(2,May), 108-115. citation courtesy of

August 2001Productivity Growth and the Phillips Curve
with Robert Moffitt: w8421

Published: Krueger, A. and R. Solow (eds.) The Roaring Nineties: Can Full Employment Be Sustained? Russell Sage Foundation, 2002.

May 2001Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design
with N. Gregory Mankiw: w8270

Published: Laurence Ball & N. Gregory Mankiw, 2007. "Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design," Journal of Political Economy, University of Chicago Press, vol. 115(4), pages 523-547, 08. citation courtesy of

October 2000Near-Rationality and Inflation in Two Monetary Regimes

Published: Laurence Ball, 2000. "Near-rationality and inflation in two monetary regimes," Proceedings, Federal Reserve Bank of San Francisco. citation courtesy of

September 2000Policy Rules and External Shocks

Published: Loayza, Norman and Klaus Schmidt-Hebbel. Monetary policy: Rules and transmission mechanisms, Series on Central Banking, Analysis, and Economic Policies, vol. 4. Santiago: Central Bank of Chile, 2002.

January 1999Policy Rules for Open Economies
in Monetary Policy Rules, John B. Taylor, editor
October 1998Policy Rules for Open Economies
June 1998Another Look at Long-Run Money Demand

Published: Ball, Laurence. "Another Look At The Long-Run Money Demand," Journal of Monetary Economics, 2001, v47(1,Feb), 31-44. citation courtesy of

March 1997Efficient Rules for Monetary Policy

Published: International Finance, Vol. 2, no. 1 (April 1999): 63-83 citation courtesy of

January 1997Disinflation and the NAIRU
in Reducing Inflation: Motivation and Strategy, Christina D. Romer and David H. Romer, Editors
March 1996Disinflation and the NAIRU

Published: Reducing Inflation: Motivation and Strategy, C. Romer and D. Romer, eds.,(Chicago: University of Chicago Press, 1997)

November 1995Expectations and the Effects of Monetary Policy
with Dean Croushore: w5344

Published: Ball, Laurence and Dean Croushore. "Expectations And The Effects Of Monetary Policy," Journal of Money, Credit and Banking, 2003, v35(4,Aug), 473-484. citation courtesy of

September 1995What Do Budget Deficits Do?
with N. Gregory Mankiw: w5263

Published: Laurence Ball & N. Gregory Mankiw, 1995. "What do budget deficits do?," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 95-119. citation courtesy of

February 1995The Deficit Gamble
with Douglas W. Elmendorf, N. Gregory Mankiw: w5015

Published: Journal of Money, Credit and Banking, Vol. 30 (November 1998): 699-720. citation courtesy of

March 1994A Sticky-Price Manifesto
with N. Gregory Mankiw: w4677


January 1994What Determines the Sacrifice Ratio?
in Monetary Policy, N. Gregory Mankiw, editor
December 1993The Dynamics of High Inflation
March 1993What Determines the Sacrifice Ratio?

Published: Monetary Policy, ed. N.G. Mankiw, University of Chicago Press, 1994

January 1993Inflation and the Informativeness of Prices
with David Romer: w4267


  • Ball, Lawrence and N. Gregory Mankiw, "Interpreting the Correlation Between Inflation and the Skewness of Relative Prices: A Comment on Bryan and Cecchetti," Review of Economics and Statistics, Vol. 81, no. 2 (May 1999): 197-198.
  • Journal of Money, Credit and Banking, vol. 35, no. 2, (April 2003), pp. 177-196 citation courtesy of

September 1992Relative-Price Changes as Aggregate Supply Shocks
with N. Gregory Mankiw: w4168

Published: Quarterly Journal of Economics, February 1995, p. 161-193 citation courtesy of

Inflation Dynamics
NBER Reporter Reporter_archive
June 1992Asymmetric Price Adjustment and Economic Fluctuations
with N. Gregory Mankiw: w4089

Published: The Economic Journal, The Journal of the Royal Economic Society, vol. 104,no. 423, March 1994, p. 247-261 citation courtesy of

February 1992Disinflation With Imperfect Credibility

Published: Journal of Monetary Economics, December 1994. citation courtesy of

May 1991Externalities from Labor Mobility
February 1991Inflation and Uncertainty at Short and Long Horizons
with Stephen G. Cecchetti: r1522

Published: Brookings Papers on Economic Activity, Vol. 21, Issue 1, pp. 215-245 and 253-254, (19 90).

The Genesis of Inflation and the Costs of Disinflation


December 1990Time-Consistent Policy and Persistent Changes in Inflation

Published: Journal of Monetary Economics, Vol. 36, no. 2 (November 1995): 329-350. citation courtesy of

Credible Disinflation with Staggered Price Setting

Published: American Economic Review, March 1994 citation courtesy of

January 1990Why Does High Inflation Raise Inflation Uncertainty?

Published: Journal of Monetary Economics, June 1992,pp. 371-388 citation courtesy of

April 1989Wage Indexation and Time-Consistent Monetary Policy
with Stephen G. Cecchetti: w2948

Published: "Wage Indexation and Discretionary Monetary Policy," American Economic Review, December 1991, pp. 1310-1319

February 1989"The New Keynesian Economics and the Output-Inflation Trade-off"
with N. Gregory Mankiw, David H. Romer: r1111

Published: Brookings Papers on Economic Activity, Vol. 1, (1988), pp. 1-65

December 1987Real Rigidities and the Non-Neutrality of Money
with David Romer: w2476


  • Review of Economic Studies, Vol. 57, No. 2, pp. 183-203, (April 1990). citation courtesy of
  • Reprinted in Mankiw and Romer, New Keynesian Economics, M.I.T. Press, 1991.

November 1987The Equilibrium and Optimal Timing of Price Changes
with David Romer: w2432

Published: Review of Economic Studies, April 1989, vol 56(2), no. 186 pp. 179-198 citation courtesy of

October 1987The Equilibrium and Optimal Timing of Price Changes
with David Romer: w2412

Published: Review of Economic Studies, Vol. 56 (2), No. 186, pp. 179-198, (April 1989) citation courtesy of

July 1987Sticky Prices as Coordination Failure
with David Romer: w2327

Published: American Economic Review, Vol. 81, No. 3, pp. 539-552, June 1991. citation courtesy of

April 1987Imperfect Information and Staggered Price Setting
with Stephen G. Cecchetti: w2201

Published: American Economic Review, Vol. 78, No. 5, December 1988, pp. 999-1018 citation courtesy of

February 1987Are Prices Too Sticky?
with David Romer: w2171

Published: The Quarterly Journal of Economics, Vol. 104, Issue 3, pp. 507-524,(August 1989). citation courtesy of

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