Narayana Kocherlakota

Narayana Kocherlakota

Professor of Finance
Louise and Henry Epstein Professor of Business Administration
Area(s) of Expertise

Narayana Kocherlakota, Louise and Henry Epstein Professor of Business Administration 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. 

Analytical Formulae for Accurately Sized t-tests in the Single Instrument Case
Economics Letters
Practical Policy Evaluation
Journal of Monetary Economics
Public Goods with Ambiguity in Large Economies
Journal of Economic Theory
The Future of the Zero Lower Bound Problem
Journal of International Money and Finance
The Decentralized Central Bank: A Review Essay onThe Power and Independence of the Federal Reserve
Journal of Economic Literature
Rules versus Discretion: A Reconsideration
Brookings Papers on Economic Activity
"Comment on ‘Quantifying the Lasting Harm of the Financial Crisis to the US Economy,’ by Robert Hall"
NBER Macro Annual
Internal Debt Crises and Sovereign Default
Journal of Monetary Economics
"Two Models of Land Overvaluation and Their Implications," in The Origins, History, and Future of the Federal Reserve
Cambridge University Press
Central Bank Independence and Sovereign Default
Banque de France Financial Stability Review
Modern Macroeconomic Models as Tools for Policy
2009 Annual Report, Federal Reserve Bank of Minneapolis
NonseparablePreferences and Optimal Social Security Systems
Journal of Economic Theory
The New Dynamic Public Finance
Princeton University Press
various 1990-2009 (see CV)