Peter N. Ireland is Murray and Monti Professor of Economics at Boston College, Research Associate at the National Bureau of Economic Research, and Editor of the B.E. Journal of Macroeconomics and the Journal of Economic Dynamics and Control. His research focuses on Federal Reserve policy and its effects on the U.S. economy and, more broadly, on the nature and sources of business cycle fluctuations in advanced capitalist economies.
Macroeconomics
Productivity and U.S. Macroeconomic Performance: Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model (with Scott Schuh), Working Papers in Economics (2006)
A two-sector real business cycle model, estimated with postwar U.S. data, identifies shocks to the...
A Method for Taking Models to the Data, Working Papers in Economics (1999)
This paper develops a method for combining the power of a dynamic, stochastic, general equilibrium...
Monetary Economics
On the Welfare Cost of Inflation and the Recent Behavior of Money Demand, Working Papers in Economics (2007)
Post-1980 U.S. data trace out a stable long-run money demand relationship of Cagan's semi-log form...
The Monetary Transmission Mechanism, Working Papers in Economics (2005)
The monetary transmission mechanism describes how policy-induced changes in the nominal money stock or the...
Changes in the Federal Reserve's Inflation Target: Causes and Consequences, Working Papers in Economics (2005)
This paper estimates a New Keynesian model to draw inferences about the behavior of the...
Heterogeneity and Redistribution: By Monetary or Fiscal Means?, Working Papers in Economics (2004)
In models with heterogeneous agents, issues of distribution and redistribution jump to the fore, raising...
The Own-Price of Money and a New Channel of Monetary Transmission (with Michael T. Belongia), Working Papers in Economics (2002)
Traditionally, the effects of monetary policy actions on output are thought to be transmitted via...