Philippe Andrade
Philippe Andrade
Senior Economist

Research

email  Philippe.Andrade@bos.frb.org

617-973-3847

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Primary fields of research

Macroeconomics, monetary economics

Publications

Journal articles

“Forward Guidance and Heterogenous Beliefs,” with Gaetano Gaballo, Eric Mengus, and Benoît Mojon. 2019. American Economic Journal: Macroeconomics11(3) 1–29. https://doi.org/10.1257/mac.20180141

“Heterogeneous Beliefs and Forward Guidance,” with G. Gaballo, E. Mengus, and B. Mojon. Forthcoming. American Economic Journal: Macroeconomics. Revised version of Banque de France Working Paper No. 573 (2015).

“Can Unlimited Liquidity Provisions Mitigate a Credit Crunch? Evidence from the Eurosystem’s 3-Year LTROs,” with C. Cahn, H. Fraisse, and J.S. Mésonnier. Forthcoming. Journal of European Economic Association. Revised version of Banque de France Working Paper No. 540 (2015).

“Fundamental Disagreement,” with R. Crump, S. Eusepi, and E. Moench. 2016. Journal of Monetary Economics 83(C): 106–128.

“Global Versus Local Shocks in Micro Price Dynamics,” with M. Zachariadis. 2016. Journal of International Economics 98(1): 78–92.

“The Financial Content of Inflation Risks in the Euro Area,” with V. Fourel, E. Ghysels, and J. Idier. 2014. International Journal of Forecasting 30(3): pp. 648–659.

“Inattentive Professional Forecasters,” with H. Le Bihan. 2013. Journal of Monetary Economics 60(8): 967–982.

“Hausse de TVA et Variations de Taux de Marge: une Analyse Empirique sur Données d’Entreprises,” with M. Carré and A. Bénassy-Quéré. 2012. Économie & Prévisions 200-201(2/3): 1-17.

“Testing for the Cointegration Rank When Some Cointegrating Directions Are Changing,” with C. Bruneau and S. Gregoir. 2005. Journal of Econometrics 124(2): 269–310.

“Excess Returns, Portfolio Choices and Exchange Rate Dynamics. The Yen/Dollar Case,” with C. Bruneau. 2002. Oxford Bulletin of Economics and Statistics 64(3): 237–260.

Book chapter

“Sources of Non-stationary Real Exchange Rates Fluctuations: Elements of Theory and Some Empirical Evidence.” In Exchange Rate Dynamics: A New Open-Economy Macroeconomics Perspective, edited by J.O. Hairault and T. Sopraseuth. 2004. Abingdon, UK: Routledge.

Working papers

The Optimal Inflation Target and the Natural Rate or Interest,” with Jordi Galí, Hervé Le Bihan, and Julien Matheron. 2019. Federal Reserve Bank of Boston Research Department Working Papers No. 19-18.

Delphic and Odyssean Monetary Shocks: Evidence from the Euro Area,” with Filippo Ferroni. 2019. Federal Reserve Bank of Boston Research Department Working Papers No. 19-17.

“The ECB’s Asset Purchase Programme: An Early Assessment,” with J. Breckenfelder, F. Fiore, P. Karadi, and O. Tristani. 2016. Revisions requested for the International Journal of Central Banking.

“Tails of Inflation Forecasts and Tales of Monetary Policy,” with E. Ghysels and J. Idier. 2015. Revision of Banque de France Working Paper No. 407 (2012).

Other writings

“What Would Be Wrong with Lowering the Inflation Target?” 2017. Banque de FranceEco Notepad.

“The Heterogeneous Interpretations of Forward Guidance.” 2016. European Central Bank Research Bulletin No. 23.

“Did the Eurosystem’s LTROs of 2011 and 2012 Help To Avert a Credit Crunch in the Euro Area?” with Christophe Cahn, Jean-Stéphane Mésonnier, and Henri Fraisse. 2015. Rue de la Banque No. 10.

“Learning from Disagreement,” with R. Crump, S. Eusepi, and E. Moench. 2014. Invited to VoxEU.org.