Narayana Kocherlakota, Lionel W. McKenzie Professor of Economics, received a PhD in economics from The University of Chicago in 1987, under the guidance of Lars Peter Hansen and Jose Scheinkman (Rochester PhD and Lionel McKenzie student). Since that time, he has held academic appointments at a number of institutions, including Stanford University, Northwestern University, The University of Iowa, and the University of Minnesota. He was the President and CEO of the Federal Reserve Bank of Minneapolis from 2009-2015. As part of his responsibilities in that position, he served on the Federal Open Market Committee (FOMC), the monetary policymaking arm of the Federal Reserve System.
His past research includes theoretical and empirical contributions to many fields in economics, including the economics of money and payments, business cycles, financial economics, public finance, and dynamic games/contracts. His current research is on monetary policy.
As a member of the FOMC, he spoke and wrote about a number of aspects of economic policy. As a professor, he intends to continue to write about economic policy. Additionally he holds a joint appointment in the Simon Business School.
Analytical Formulae for Accurately Sized t-tests in the Single Instrument Case2020Economics LettersPractical Policy Evaluation2019Journal of Monetary EconomicsPublic Goods with Ambiguity in Large Economies2019Journal of Economic TheoryThe Future of the Zero Lower Bound Problem2019Journal of International Money and FinanceThe Decentralized Central Bank: A Review Essay onThe Power and Independence of the Federal Reserve2017Journal of Economic LiteratureRules versus Discretion: A Reconsideration2016Brookings Papers on Economic Activity"Comment on ‘Quantifying the Lasting Harm of the Financial Crisis to the US Economy,’ by Robert Hall"2014NBER Macro AnnualInternal Debt Crises and Sovereign Default2014Journal of Monetary Economics"Two Models of Land Overvaluation and Their Implications," in The Origins, History, and Future of the Federal Reserve2013Cambridge University PressCentral Bank Independence and Sovereign Default2012Banque de France Financial Stability ReviewModern Macroeconomic Models as Tools for Policy20102009 Annual Report, Federal Reserve Bank of MinneapolisNonseparablePreferences and Optimal Social Security Systems2010Journal of Economic TheoryThe New Dynamic Public Finance2010Princeton University Pressvarious 1990-2009 (see CV)