Douglas Laxton

Books, Publications and Working Papers

Papers in 2009:

Alichi, A., H. Chen, K. Clinton, C. Freedman, M.J. Johnson, O. Kamenik, T. Kisinbay, and D. Laxton, 2009, "Inflation Targeting Under Imperfect Policy Credibility," IMF Working Paper 09/94 (April 2009), available at www.imf.org.

Benes, J., K. Clinton, and D. Laxton, 2009, "Vulnerabilities in Emerging Economies" Box 2.2 of Chapter 2 of the April 2009 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Benes, J., K. Clinton, and D. Laxton, 2009, "House Price and Country Risk Premium Shocks Under Flexible and Managed Exchange Rates," forthcoming IMF Working Paper.

Canales-Kriljenko, J., C. Freedman, R. Garcia-Saltos, M. Johnson, and D. Laxton, "Adding Latin America to the Global Projection Model, IMF Working Paper 09/85 (April 2009), available at www.imf.org.

Chen, H., K. Clinton, M. Johnson, O. Kamenik, and D. Laxton, 2009, "Constructing Forecast Confidence Bands with GPM, Forthcoming IMF Working Paper.

Clinton, K., M. Johnson, O. Kamenik, and D. Laxton, 2009, "Assessing Deflation Risks in the G3 Economies", Box 1.1 of Chapter 1 of the April 2009 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Clinton, K., M. Johnson, O. Kamenik, and D. Laxton, 2009, "Deflation Risks Under Alternative Monetary Policy Rules," forthcoming IMF Working Paper.

Clinton, K., M. Johnson, O. Kamenik and D. Laxton, "Assessing Deflation Risks in the G3 Economies under Alternative Policies," forthcoming IMF Working Paper.

Decressin, J. and D. Laxton, 2009, "Gauging Risks for Deflation," IMF Staff Position Paper NO. 09/01 (Washington, DC. : International Monetary Fund).

Freedman, C., and D. Laxton, 2009, "Why Inflation Targeting?," IMF Working Paper No. 09/86 (Washington, DC.: International Monetary Fund) and Chapter 2 of On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say, unpublished manuscript by C. Freedman, D. Laxton and I. Okter-Robe.

Freedman, C., and D. Laxton, "IT Framework Design Parameters," IMF Working Paper No. 09/87 (Washington, DC.: International Monetary Fund) and Chapter 3 of On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say, unpublished manuscript by C. Freedman, D. Laxton and I. Okter-Robe.

Freedman, C., M. Kumhof, D. Laxton, and J. Lee, 2009, "The Case for Global Fiscal Stimulus," IMF Staff Position Paper No. 09/04 (Washington, DC.: International Monetary Fund).

Freedman, C., M. Kumhof, D. Laxton, D. Muir and S. Mursula, 2009, "Fiscal Multipliers Galore," forthcoming IMF Working Paper.

Kumhof, M. and D. Laxton, 2009, "Chile's Structural Fiscal Surplus Rule: A Model-Based Evaluation," IMF Working Paper 09/88 (April 2009), available at www.imf.org.

Kumhof, M. and D. Laxton, 2009, "Simple, Implementable Fiscal Policy Rules," IMF Working Paper 09/76 (April 2009), available at www.imf.org.

Kumhof, M., K. Naknoi and D. Laxton, 2009, "Does the Exchange Rate Belong in Monetary Policy Rules? New Answers from a DSGE Model with Endogenous Tradability and Trade Frictions" (with D. Laxton and K. Naknoi), ECB Conference Volume, forthcoming, 2009.

Laxton, D., D. Rose and A. Scott, 2009, "Developing a Structured Forecasting and Policy Analysis System," IMF Working Paper 09/65 (March 2009), available at www.imf.org.

Papers in 2008

Carabenciov, I., I. Ermolaev, C. Freedman, M. Juillard, O. Kamenik, D. Korshunov, and D. Laxton, 2008, “A Small Quarterly Projection Model of the U.S. Economy,” IMF Working Paper No. 08/278 (Washington, DC.: International Monetary Fund) available at http://www.imf.org/external/pubs/cat/longres.cfm?sk=22502.0.

Carabenciov, I., I. Ermolaev, C. Freedman, M. Juillard, O. Kamenik, D. Korshunov, D. Laxton, and J. Laxton, 2008a, “A Small Multi-Country Global Projection Model,” IMF Working Paper No. 08/279 (Washington, DC.: International Monetary Fund). available at http://www.imf.org/external/pubs/cat/longres.cfm?sk=22487.0

Carabenciov, I., I. Ermolaev, C. Freedman, M. Johnson, M. Juillard, O. Kamenik, D. Korshunov, D. Laxton, and J. Laxton, 2008b, “A Small Multi-Country Global Projection Model with Financial-Real Linkages and Oil Prices,” IMF Working Paper No. 08/280 (Washington, DC.: International Monetary Fund) available at http://www.imf.org/external/pubs/cat/longres.cfm?sk=22497.0

Catão, L., D. Laxton, and A. Pagan, 2008, “Monetary Transmission in an Emerging Targeter: The Case of Brazil,” IMF Working Paper no. 08/191 (Washington, D.C.: International Monetary Fund).

Collyns, C., D. Laxton, and N. Tamirisa, 2008, “Measuring Output Gaps” Box 1.1 of Chapter 1 of the October 2008 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Clinton, K., T. Helbling, D. Laxton, and N. Tamirisa, 2008, “Assessing and Communicating Risks to the Global Outlook” Box 1.3 of Chapter 1 of the October 2008 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Danninger, S., M. Kumhof and D. Laxton, 2008, "When Does Fiscal Stimulus Work?", Box 2.1 of Chapter 2 of the April 2008 World Economic Outlook, International Monetary Fund.

Elekdag, Selim, Rene Lalonde, Douglas Laxton, Dirk Muir and Paolo Pesenti, 2008, "Oil Price Movements and the Global Economy: A Model-Based Assessment", IMF Staff Papers Vol. 55, No. 2, pp. 297-311 and Working Paper No. 13792.

Faruqee, H., D. Laxton, D. Muir and P. Pesenti, 2008, “Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis,” Journal of Economics Dynamics and Control, 8 (August) pp. 2651-2689 and NBER Working Paper No. 12704.

Helbling, T., D. Laxton, V. Mercer-Blackman and I. Tytell, 2008, “Is Inflation Back? Commodity Prices and Inflation” Chapter 3 of the October 2008 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Iakova, D., D. Laxton, and D, Muir, “The effects of cutting taxes on gasoline,” Box 6 of Chapter 2 of the October 2008 European Regional Economic Outlook, International Monetary Fund, available at www.imf.org

Juillard, M., O. Kamenik, D. Laxton, and M. Kumhof, 2008, “Optimal Price Setting and Inflation Inertia in a Rational Expectations Model,” forthcoming in the Journal of Economic Dynamics and Control, 8 (August), pp. 2584-2621.

Laxton, D., D. Rose and A. Scott, 2008, “Developing a Structured Forecasting and Policy Analysis System,” Chapter prepared for a book on implementation issues for Inflation Targeting. Draft available from authors.

Kamenik, O., H. Kiem, V. Klyuev, and D, Laxton, 2008, “Why is Canada’s Price Level so Predictable?” IMF Working Paper 08/25 (January 2008), available at www.imf.org.

Karam, P., D. Laxton, D. Rose, and N. Tamirisa, 2008, “The Macroeconomic Costs and Benefits of Adopting the Euro,” IMF Staff Papers, Vol. 55, No. 2, pp. 339–55.

Kumhof, M., D. Laxton, and D. Muir, 2008, “Monetary Policy Regimes and Commodity Prices” Box 3.3 of Chapter 3 of the October 2008 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Kumhof, M. and D. Laxton, 2008, “South Asia: Illustrative Impact of an Abrupt Climate Shock” Box 4.2 of Chapter 4 of the April 2008 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Kumhof, M.. D. Laxton. and K. Naknoi, 2008, "Does the Exchange Rate Belong in Monetary Policy Rules? New Answers from a DSGE Model with Endogenous Tradability and Trade Frictions," paper prepared for an ECB Conference on Globalisation and the Marcoeconomy, July 23–34, 2007 in Frankfurt, Germany.

Laxton, D., 2008, “Getting to Know the Global Economy Model and Its Philosophy,” IMF Staff Papers, Vol. 55, No. 2, pp. 213–42.

Scott, A., A. Barnett, M. De Broeck, A. Ivanova, K. Daehaeng, M. Kumhof, D. Laxton, D. Leigh, S. Stehn and S. Symansky, 2008, “Fiscal Policy as a Countercyclical Tool” Chapter 5 of the October 2008 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Papers in 2007

Kumhof, M. and D. Laxton, 2007, "Improved Macroeconomic Performance-Good Luck or Good Policies" Box 5.2 of Chapter 5 of the December 2007 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Argov, E., N. Epstein, P. Karam, D. Laxton, and D. Rose, 2007, Endogenous Monetary Policy Credibility in a Small Macro Model of Israel, IMF Working Paper 07/207 (August 2007), available at www.imf.org.

Juillard, M., O. Kamenik, M. Kumhof, and D. Laxton, 2007, Measures of Potential Output from an Estimated DSGE Model of the United States paper presented at a workshop on Issues in Measuring Potential Output, Ankara Turkey, January 16, 2007.

Kumhof, M. and D. Laxton, 2007, "A Party Without a Hangover? On the Effects of U.S. Fiscal Deficits" IMF Working Paper 07/202 (August 2007), available at .www.imf.org.

Faruqee, H., D. Laxton, D. Muir and P. Pesenti, 2007, Would protectionism defuse global imbalances and spur economic activity? A scenario analysis, NBER Working Paper No. 12704 and forthcoming in the Journal of Economic Dynamics and Control

Juillard, M., O. Kamenik, D. Laxton, and M. Kumhof, 2007, Optimal Price Setting and Inflation Inertia in a Rational Expectations Model, forthcoming in the Journal of Economic Dynamics and Control.

Gray, Gavin, Thomas Harjes, Andy Jobst, Douglas Laxton, Natalia Tamirisa and Emil Stavrev, 2007, “The Euro and New member States,” in IMF Staff Country Report No. 07/259, (Washington: International Monetary Fund) pp. 5-45.

Batini, Nicoletta and Douglas Laxton, 2007, “Under What Conditions Can Inflation Targeting Be Adopted? The Experience of Emerging Markets," in Monetary Policy under Inflation Targeting, ed. by Frederick S. Mishkin and Klaus Schmidt-Hebbel (Chile: Banco Central de Chile), pp. 467–506.

Botman, Dennis, Phillipe Karam, Doug Laxton and David Rose, 2007, "DSGE Modeling at the Fund: Applications and Further Developments". IMF Working Paper 07/200 (August 2007), available at www.imf.org.

Elekdag, Selim, René Lalonde, Douglas Laxton, Dirk Muir, and Paolo Pesenti, 2007, “Oil Price Movements and the Global Economy: A Model-Based Assessment,” paper prepared for an IMF Workshop on Open Economy Models for Policy Evaluation, April 18-21, 2007 (Washington, D.C.: Washington Plaza Hotel), Bank of Canada Working Paper, 2007-34, forthcoming in IMF Staff Papers.

Elekdag, S. and D. Laxton, 2007, “Understanding the Link Between Oil Prices and the World Economy,” Box 1.2 in Chapter 1 of the April 2007 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Helbling, T., P. Berezin, A. Kose, M. Kumhof., D. Laxton and N. Spatafora, 2007, “Decoupling the Train? Spillovers and Cycles in the Global Economy?” Chapter 4 of the April 2007 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Papers in 2006

Juillard, M., P. Karam, D. Laxton, and P. Pesenti, 2006, A Simple Welfare-Based Monetary Policy Rule in an Estimated DSGE Model of the US Economy, ECB Working Paper.No. 613.

Berg, A., P. Karam, and D. Laxton, 2006a, A Practical Model-Based Approach to Monetary Policy Analysis Overview, IMF Working Paper 06/080 (April 2006), available at www.imf.org.

Laxton, D., P. NDiaye and P. Pesenti, 2006, Shocks, Monetary Rules: A Scenario Analysis for Japan, Journal of Japanese and International Economies, doi: 10.1016/j.jjie.2006.08.004. Available at http://www.sciencedirect.com.

Berg, A., P. Karam, and D. Laxton, 2006b, Practical Model-Based Monetary Policy Analysis A How-to Guide, IMF Working Paper 06/081 (April 2006), available at www.imf.org.

Botman, D., D. Muir, D. Laxton and A. Romanov, 2006, A New-Open-Economy-Macro Model for Fiscal Policy Evaluation, IMF Working Paper 06/045 (February 2006), available at www.imf.org.

Kumhof, M. and D. Laxton, 2006, “How will global imbalances adjust?” Box 1.3 of Chapter 1 of the September 2006 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Kumhof, M., D. Laxton and W. Schule, 2006, "Optimized Fiscal Rules for a Monetary Union" prepared for a conference at the European Commission on Fiscal Policy Issues. Draft available from authors.

Epstein, N., D. Laxton. P. Karam and D. Rose, 2006, "A Simple Forecasting and Policy Analysis System for Israel: Structure and Applications" in Israel: Selected Issues, IMF Country Report No. 06/121 (March 2006), available at www.imf.org.

Papers in 2005

Faruqee, H., D. Laxton, D. Muir and P. Pesenti, 2005, Smooth Landing or Crash? Model-Based Scenarios of global current account rebalancing, NBER Working Paper No. 11583.

Goretti, M. and D. Laxton, 2005, "Long-Term Inflation Expectations and Credibility", Box 4.2 in Chapter 4 of the September 2005 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Laxton, D. and Gian Maria Milesi-Ferretti 2005, “How will global imbalances adjust?” Appendix 1.2 of Chapter 1 of the September 2005 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Kumhof, M., D. Laxton and D. Muir, 2005, "Consequences of U.S. Fiscal Consolidation for the U.S. Current Account" in United States: Selected Issues, IMF Country Report No. 05/258 (July 2005), available at www.imf.org.

Batini, N., K. Kuttner and D. Laxton, 2005, “Does Inflation Targeting Work in Emerging Markets?” Chapter 4 of the September 2005 World Economic Outlook, International Monetary Fund, available at www.imf.org.

Karam. P., D. Laxton and N. Tamirisa, 2005, “Monetary Policy Implications of Capital Account Volatility Under an Inflation Targeting Regime,” in Czech Republic: Selected Issues, IMF Country Report No. 05/275 (August 2005), available at www.imf.org.

Papers in 2004

Bayoumi, T., D. Laxton, H. Faruqee, B. Hunt, P. Karam, J. Lee, A. Rebucci and I. Tchakarov, 2004, “GEM: A New International Macroeconomic Model,” Occasional Paper No. 239, (Washington: International Monetary Fund).

Bayoumi, T., M. Kumhof, D. Laxton and K. Naknoi, 2004, "Exchange Rate Regimes, International Linkages and the Macroeconomic Performance of the New Member States," policy version prepared for a high level conference at the ECB in October and an extended more analytical version was prepared for the IMF Annual Research Conference, November 2004.

Bayoumi, T., D. Laxton and P. Pesenti, 2004, "Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment," ECB Working Paper No. 341 and NBER Working Paper No. 10416.

Papers in 2003

Coats, W., D. Laxton and D. Rose, 2003, The Czech National Banks Forecasting and Policy Analysis System, (Prague, Czech Republic: Czech National Bank).

Laxton, D., and P. Pesenti, 2003,"Monetary Policy Rules for Small, Open, Emerging Economies." Journal of Monetary Economics 50, July, pp. 1109-1146.

Hunt, B. and D. Laxton, 2003, The Zero-Interest-Rate Floor and Its Implications for Monetary Policy in Japan, in Japans Lost Decade: Policies for Economic Revival,

Hunt, B. and D. Laxton, 2003, “The Zero-Interest-Rate Floor and Its Implications for Monetary Policy in Japan,” in Japan’s Lost Decade: Policies for Economic Revival, ed. by Tim Callen and Jonathan Ostry (Washington, D.C.: International Monetary Fund).

Hunt, B. and D. Laxton, 2003b, “Some Simulation Properties of the Major Euro Area Economies in MULTIMOD,” IMF Working Paper 03/31 (February 2003), available at www.imf.org.

Hunt, B., P. Isard and D. Laxton, 2003, “Inflation Targeting and the Role of the Exchange Rate”, unpublished draft available from authors.

Papers in 2002

Hunt, Benjamin, Peter Isard, and Douglas Laxton,, 2002, The Macroeconomic Effects of Higher Oil Prices, National Institute Economic Review, Vol. 179, No. 1, pp. 87-103.

Boone, Laurence, Michel Juillard, Douglas Laxton and Papa N’Diaye, 2002, “How Well Do Alternative Time-Varying Models of the NAIRU Help Policymakers Forecast Unemployment?,” unpublished draft available from authors.

Bleaney Michael and Douglas Laxton, 2002, “Real Interest Rates and Real Exchange Rates: Evidence from Indexed Bonds,” Manchester School (U.K.); 71, No. 1:65-77, January.

Laxton, Douglas and Papa N'Diaye, 2002, "Monetary Policy Credibility and the Unemployment-Inflation Nexus: Some Evidence from Seventeen OECD Countries," IMF Working Paper 02/220 (Washington: International Monetary Fund).

Papers in 2001

Laxton, Douglas and Eswar Prasad, 2001, "Possible Effects of European Monetary Union on Switzerland A Case Study of Policy Dilemmas Caused by Low Inflation and the Nominal Interest Rate Floor," Journal of Policy Modeling, Vol. 23, Issue 5 (July) pp. 531-51.

Hunt, Benjamin, Peter Isard, and Douglas Laxton, 2001, “The zero interest rate floor (ZIF) and its implications for monetary policy in Japan,” IMF Working Paper No. 01/186 (Washington: International Monetary Fund).

Hunt, Benjamin, Peter Isard, and Douglas Laxton, 2001, “The Macroeconomic Effects of Higher Oil Prices,” IMF Working Paper No. 01/14 (Washington: International Monetary Fund).

Clark, Peter, Douglas Laxton, and David Rose, 2001, "An Evaluation of Alternative Monetary Policy Rules in a Model with Capacity Constraints," Journal of Money Credit and Banking, Vol. 33, No. 1 (February), pp. 42-64.

Isard, Peter, Douglas Laxton and Ann-Charlotte Eliasson, 2001, Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility, Journal of Economic Dynamics and Control, Vol. 25, pp. 115-148.

Papers in 2000

Isard, Peter and Douglas Laxton, 2000b, Inflation-Forecast Targeting and the Role of Macroeconomic Models, in Inflation Targeting in Transition Economies: The Case of the Czech Republic, ed. by Warren Coates (Prague: Czech National Bank), pp. 105-137.

Faruqee, Hamid and Douglas Laxton, 2000, Life-Cycles, dynasties, saving: implications for closed and small, open economies, IMF Working Paper 00/126, July, (Washington: International Monetary Fund).

Laxton, Douglas and Alasdair Scott, 2000, On Developing a Structured Forecasting and Policy Analysis System Designed to Support Inflation-Forecast-Targeting, in Inflation Targeting Experiences: England, Finland, Poland, Mexico, Brazil, Chile, (Ankara: The Central Bank of Turkey),pp. 6-63.

Isard, Peter and Douglas Laxton, 2000a, “Issues Relating to Inflation Targeting and the Bank of England’s Framework,” in IMF Staff Country Report No. 00/106, (Washington: International Monetary Fund) pp. 5-45.

Papers in 1999

Isard Peter, and Douglas Laxton, 1999, “Monetary Policy with NAIRU Uncertainty and Endogenous Credibility: Perspectives on Policy Rules and the Gains from Experimentation and Transparency,” in Monetary Policy Uncertainty edited by Benjamin Hunt and Andrew Orr (Reserve Bank of New Zealand: Wellington).

Eliasson, Ann-Charlotte, Peter Isard, and Douglas Laxton, 1999, “Simple Monetary Policy Rules Under Model Uncertainty,” in International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr., ed. by Peter Isard, Assaf Razin, and Andrew K. Rose (Washington: International Monetary Fund).

Ford, Robert, and Douglas Laxton, 1999, World Public Debt and Real Interest Rates, Oxford Review of Economic Policy, Vol. 15, No. 2, pp. 77-94.

Laxton, Douglas, and David Rose, and Demosthenes Tambakis, 1999, The U.S. Phillips Curve The Case for Asymmetry, Journal of Economic Dynamics and Control, Vol. 23, No. 9, pp. 145-985.

Papers in 1998

Juillard, Michel, Douglas Laxton, Hope Pioro and Peter McAdam, 1998, An Algorithm Competition: First-Order Techniques Versus Newton-Based Techniques, Journal of Economic Dynamics and Control, Vol. 22, pp. 1291-1318.

Laxton, Douglas, 1998, “MULTIMOD Mark III: The Equations and Documentation,” released on http://www.imf.org/external/np/res/mmod/mark3/index.htm.

Laxton, Douglas, 1998, “Are simple monetary policy rules robust under model uncertainty or would following such rules risk a repeat of the types of monetary policy errors that have been made in the past? Some comments on Christiano and Gust (1998) and other recent research on the robustness of simple monetary policy rules,” paper prepared for a conference on General Equilibrium and Monetary Transmission hosted by De Nederlandsche Bank on November 5-6, 1998 in Amsterdam.

Laxton, Douglas, Hamid Faruqee, Hamid, Peter Isard, Eswar Prasad, and Bart Turtelboom, 1998, MULTIMOD Mark III: The Core Dynamic and Steady-State Models, IMF Occasional Paper No. 164, May, (Washington: International Monetary Fund).

Bayoumi, Tamim, Douglas Laxton, and David T. Coe, 1998, “Liberating Supply: Fiscal Policy and Technological Innovation in a Multicountry Model,” IMF Working Paper 98/95, June, (Washington: International Monetary Fund).

Armstrong, John, Richard Black, Douglas Laxton, and David Rose, 1998, “A Robust Method for Simulating Forward-Looking Models”, Journal of Economic Dynamics and Control, Vol. 22, pp. 489-501.

Papers in 1997

Debelle, Guy, and Douglas Laxton, 1997, “Is the Phillips Curve Really a Curve? Some Evidence for Canada, The United Kingdom and the United States,” Staff Papers, International Monetary Fund, Vol. 44, No. 2, June, pp. 249–82.

Papers in 1996

Faruqee, Hamid, Douglas Laxton, and Steven Symansky, 1996, Government Debt, Lifecycle Income and Liquidity Constraints: Beyond Approximate Ricardian Equivalence, IMF Working Paper 96/140, December, (Washington: International Monetary Fund).

Isard, Peter, and Douglas Laxton, 1996, “Strategic Choice in Phillips Curve Specification: What if Bob Gordon is Wrong?,” prepared for a conference on the Macroeconomic Aspects of European Unemployment sponsored by the European University Institute in Florence, Italy, November.

Laxton, Douglas, Hope Pioro, and Peter McAdam, 1996, “Solving MULTIMOD with First-Order and Newton-Based Techniques,” released as a University of Strathclyde Discussion Paper in Economic Modeling, October.

Juillard, Michel, and Douglas Laxton, 1996, “A Robust and Efficient Method for Solving Nonlinear Rational Expectations Models,” IMF Working Paper 96/106, September, (Washington: International Monetary Fund).

Clark, Peter, and Douglas Laxton, 1996, “Phillips Curves, Phillips Lines and the Unemployment Costs of Overheating,” prepared for a conference on Computational Economics in Geneva, Switzerland, May.

Clark, Peter, Douglas Laxton, and David Rose, 1996, “Asymmetry in the U.S. Output-Inflation Nexus: Issues and Evidence,” IMF Staff Studies, Vol. 46, March, (Washington: International Monetary Fund).

Papers in 1995

Buckberg, E., Douglas Laxton, and others, 1995, “United States Background Papers,” IMF Staff Country Report No. 95/94, September, (Washington: International Monetary Fund).

Laxton, Douglas, Guy Meredith, and David Rose, 1995, “Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications,” IMF Staff Papers, Vol. 42, June, (Washington: International Monetary Fund).

Clark, Peter, Douglas Laxton, and David Rose, 1995, “Capacity Constraints, Inflation and the Transmission Mechanism: Forward-Looking Versus Myopic Policy Rules,” IMF Working Paper 95/75, July, (Washington: International Monetary Fund).

Black, Richard, Douglas Laxton, David Rose, and Robert Tetlow, 1995, “The Bank of Canada's New Quarterly Projection Model: The Steady-State Model,” Technical Report No. 72, (Ottawa: Bank of Canada), January.

Papers in 1994

Bayoumi, Tamim, and Douglas Laxton, 1994, Government Debt, Deficits, and the Business Cycle, Deficit Reduction: What Gain, What Pain?, (C.D. Howe Institute).

Papers in 1993

Laxton, Douglas, David Rose, and Robert Tetlow, 1993, Problems in Identifying Nonlinear Phillips Curves: Some Further Consequences of Mismeasuring Potential Output, Working Paper 93/6, (Ottawa: Bank of Canada), June.

Laxton, Douglas, David Rose, Robert Tetlow, 1993, Is the Canadian Phillips Curve Non-Linear?, Working Paper No. 93/7, (Ottawa: Bank of Canada), July.

Laxton, Douglas, David Rose, Robert Tetlow, 1993, Monetary Policy, Uncertainty and the Presumption of Linearity, Technical Report No. 63, (Ottawa: Bank of Canada), August.

Laxton, Douglas, Nick Ricketts, and David Rose, 1993, Uncertainty, Learning and Policy Credibility, Economic Behavior and Policy Choice Under Price Stability, Proceedings of a Conference held at the Bank of Canada, 30-31 October.

Papers in 1992

Laxton, Douglas, Kevin Shoom, and Robert Tetlow, 1992, Should the Change in the Gap Appear in the Phillips Curve?: Some Consequences of Mismeasuring Potential Output, Working Paper 92/1, (Ottawa: Bank of Canada), January.

Laxton, Douglas, and Robert Tetlow, 1992, A Simple Multivariate Filter for the Measurement of Potential Output, Technical Report No. 59, (Ottawa: Bank of Canada), June.

Laxton, Douglas, and Robert Tetlow, 1992, “Government Debt in an Open Economy,” Technical Report No. 58, (Ottawa: Bank of Canada), January.