Emi Nakamura -- Papers On The Web


A Plucking Model of Business Cycles (with Stéphane Dupraz and Jón Steinsson)

The Gift of Moving: Intergenerational Consequences of a Mobility Shock (Jósef Sigurdsson and Jón Steinsson)

The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation (with Jón Steinsson, Patrick Sun, and Daniel Villar)

Revise and resubmit at the Quarterly Journal of Economics.
Slides -- ELI Concordance (Excel) -- Press: WSJ (8/19/16) -- Forbes (8/19/16)


High Frequency Identification of Monetary Non-Neutrality: The Information Effect (with Jón Steinsson)

Quarterly Journal of Economics, forthcoming.
Slides -- Policy News Shocks (Excel).

Informational Rigidities and the Stickiness of Temporary Sales (with Eric Anderson, Benjamin Malin, Duncan Simester, and Jón Steinsson)

Journal of Monetary Economics, forthcoming.

The Discounted Euler Equation: A Note (with Alisdair McKay and Jón Steinsson)

Economica, forthcoming.

Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence (with Dmitriy Sergeyev and Jón Steinsson)

American Economic Journal: Macroeconomics, 9(1), 1-39, January 2017.
Web Appendix: Figure A.1 -- Data and Programs

The Power of Forward Guidance Revisited (with Alisdair McKay and Jón Steinsson)

American Economic Review, 106(10), 3133-3158, October 2016.

Are Chinese Growth and Inflation Too Smooth? Evidence from Engel Curves (with Jón Steinsson and Miao Liu)

American Economic Journal: Macroeconomics, 8(3), 113-144, July 2016.
Press: Wall Street Journal (10/19/16), Economist (3/15/14), Wall Street Journal (2/14/14), Financial Times (12/2/13)

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions (with Jón Steinsson)

American Economic Review, 104(3), 753-792, March 2014.
Vox Article: Does Fiscal Stimulus Work in a Montary Union?
Data and Programs -- Technical Appendix -- Erratum -- How to Get Military Prime Contract Data

Price Rigidity: Microeconomic Evidence and Macroeconomic Implications (with Jón Steinsson)

Annual Review of Economics, 5, 133-163, 2013.

Crises and Recoveries in an Empirical Model of Consumption Disasters (with Jón Steinsson, Robert Barro and José Ursúa)

American Economic Journal: Macroeconomics, 5(3), 35-74, July 2013.
Web Appendix -- Data and Programs
Vox Article: Disasters, Recoveries, and the Equity Premium

Lost in Transit: Product Replacement Bias and Pricing to Market (with Jón Steinsson)

American Economic Review, 102(7), 3277-3316, December 2012.
Press: BusinessWeek (6/3/09), BusinessWeek (10/14/09)
Comments on Gagnon, Mandel, and Vigfusson (2013)

Price Setting in Forward-Looking Customer Markets (with Jón Steinsson)

Journal of Monetary Economics, 58(3), 220-233, April 2011.
Appendixes: Technical Appendix, Firm Price Commitments

Price Dynamics, Retail Chains and Inflation Measurement (with Alice O. Nakamura and Leonard I. Nakamura)

Journal of Econometrics, 161(1), 47-55, March 2011.

Monetary Non-Neutrality in a Multi-Sector Menu Cost Model (with Jón Steinsson)

Quarterly Journal of Economics, 125(3), 961-1013, August 2010.
Matlab Programs: Code -- Documentation

Accounting for Incomplete Pass-Through (with Dawit Zerom)

Review of Economic Studies, 77(3), 1192-1230, July 2010.
Supplementary Material: Computational Appendix

Deconstructing the Success of RBC

Economic Inquiry, 47(4), 739-753, October 2009.

Five Facts About Prices: A Reevaluation of Menu Cost Models (with Jón Steinsson)

Quarterly Journal of Economics, 123(4), 1415-1464, November 2008.
Frequency of Price Change by ELI: ELI table (PDF) -- ELI table (Excel)
Supplementary Material: More Facts About Prices
Tables in Excel: Tables from Paper (Excel) -- Tables from Supplement (Excel)
Press: The Economist (11/9/06), Handelsblatt (2/8/10)

Pass-Through in Retail and Wholesale

American Economic Review P&P, 98(2), 430-437, May 2008.
Supplementary Material: Table
Press: NBER Digest

Layoffs and Lemons over the Business Cycle

Economics Letters, 99(1), 55-58, April 2008.


Returns to Scale: Estimation and Analysis of Japan's Turbulent 1964-1988 Economy (with W. Erwin Diewert, with Takanobu Nakajima, Alice O. Nakamura and Masao Nakamura)

Canadian Journal of Economics, 44(2), 451-485, May 2011.

Jobs Online (with Alice O. Nakamura, Kathryn L. Shaw, Richard B. Freeman and Amanda Pyman)

in Studies of Labor Market Intermediation, David H. Autor (ed), University of Chicago Press, Chicago, Il, November 2009.

Technical Change in a Bubble Economy: Japanese Manufacturing Firms in the 1990s (with Takanobu Nakajima, Alice O. Nakamura and Masao Nakamura)

Empirica, 34(3), 247-271, May 2007.

Cost Pass-Through in the U.S. Coffee Industry (with Ephraim Leibtag, Alice O. Nakamura, and Dawit Zerom)

USDA Economic Research Report No. (ERR-38), March 2007.

Inflation Forcasting Using a Neural Network

Economics Letters, 86(3), 373-378, March 2005.


Should the Fed Ignore the Most Important Bias in the CPI? December 2007. (with Jón Steinsson)


Don't Replace Data with Ideology. Bloomberg View; June 12th 2012. (with Emi Nakamura and Nicolas Vincent)


2014 Elaine Bennett Research Prize: Research Summary