Narayana Kocherlakota
President

Speeches, Articles and Research

How to pronounce his name:

Nahr-ay-yah-nah Koach-er-lah-ko-tah

(PDF)

Narayana Kocherlakota took office as president and chief executive officer of the Federal Reserve Bank of Minneapolis on Oct. 8, 2009. In that capacity, Kocherlakota serves on the Federal Open Market Committee, the policymaking arm of the Federal Reserve System. In addition to his responsibilities as a monetary policymaker, Kocherlakota oversees all operations of the bank, including supervision and regulation, and payments services.

Before his appointment as president, Kocherlakota served as a member of the Minneapolis Fed’s Research staff, as well as a Research consultant for the Bank. His prior experience also includes professorships at the University of Minnesota, where he was chair of the Economics Department, and at Stanford University. Kocherlakota has published more than 30 articles in academic journals on a variety of topics, including monetary and financial economics. His work includes theoretical and empirical contributions to monetary economics and financial economics. Kocherlakota was named one of the top 100 Global Thinkers by Foreign Policy magazine in 2012.

Kocherlakota earned a Ph.D. in economics from the University of Chicago in 1987 and an A.B. in mathematics from Princeton in 1983.

View Narayana Kocherlakota’s schedule

As Minneapolis Fed President

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Speeches

• Evaluating the Appropriateness of U.S. Monetary Policy,
  Istanbul, Turkey, June 1, 2013  
• Connecting Asset and Labor Markets in a Heterogeneous Agent Model,
  Istanbul, Turkey, June 1, 2013  
• 61st Annual Management Conference of the University of Chicago Booth School of Business,
  Chicago, Illinois, May 17, 2013  
• Low Real Interest Rates - Executive Summary,
  New York, New York, April 18, 2013  
• Low Real Interest Rates,
  New York, New York, April 18, 2013  

Articles, Papers and Messages

• Achieving the Dual Mandate, Together, The Region, June 2013
• Message from the President, The Region, March 2013
• Better Policy through Better Communication: Two Conversations with Narayana Kocherlakota, The Region, March 2013
• An Evening with Narayana Kocherlakota, Conversations with the Fed, January 2013
• Public Policy, Public Input, The Region, December 2012

Research Papers

• Impact of a Land Price Fall When Labor Markets are Incomplete
  Update of Incomplete Labor Markets from March 2012
  April 2013
• Incomplete Labor Markets - Presentation Slides
  National Bureau of Economic Research, Inc. - Summer Institute
  Cambridge, Massachusetts
  July 13, 2012
• Central Bank Independence and Sovereign Default
  April 2012
• Incomplete Labor Markets
  March 2012
• Two Models of Land Overvaluation and Their Implications
  November 2010

View all work by Kocherlakota as Minneapolis Fed President

Research as a Minneapolis Fed Economist

View all research by Kocherlakota at the Minneapolis Fed

Prior Economic Research

This list includes only a selection of papers; view all prior research for more, sorted by topic and date. See CV [PDF] for full citations.

Asset Pricing and Portfolio Choice

• "Asset Pricing Implications of Pareto Optimality with Private Information," Journal of Political Economy, joint with L. Pistaferri, 2009.
• "Injecting Rational Bubbles," Journal of Economic Theory, 2008.
• "Household Heterogeneity and Real Exchange Rates," Economic Journal, joint with L. Pistaferri, 2007.

Cycles and Growth

• "Creating Business Cycles Through Credit Constraints," Federal Reserve Bank of Minneapolis Quarterly Review, 2000.
• "Using Theory for Measurement: Measuring the Cyclical Behavior of Home Production," Journal of Monetary Economics, joint with B. F. Ingram and N. E. Savin, 1997.
• "Is there Endogenous Long Run Growth? Evidence from the United States and the United Kingdom," Journal of Money, Credit, and Banking, joint with K. Yi, 1997.

Dynamic Contracting and Dynamic Games

• “Nonseparable Preferences and Optimal Social Security Systems,” Journal of Economic Theory, joint with B. Grochulski, forthcoming.
• "Asset Pricing Implications of Pareto Optimality with Private Information," Journal of Political Economy, joint with L. Pistaferri, 2009.
• "Household Heterogeneity and Real Exchange Rates," Economic Journal, joint with L. Pistaferri, 2007.
  

Money and Banking

• "Internal Debt Crises and Sovereign Defaults," working paper, joint with C. Arellano, 2008.
• "Forbearance and Prompt Corrective Action," Journal of Money, Credit, and Banking, joint with I. Shim, 2007.
• "Model Fit and Model Selection," Federal Reserve Bank of St. Louis Review, 2007.
  

Optimal Taxation

• “Nonseparable Preferences and Optimal Social Security Systems,” Journal of Economic Theory, joint with B. Grochulski, forthcoming.
• “The New Dynamic Public Finance,” July 2010, Princeton University Press
• “On the Robustness of Laissez-Faire,” Journal of Economic Theory, joint with C. Phelan, 2009.

View all prior research by Kocherlakota sorted by topic and date

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