Narayana Kocherlakota

Speeches, Articles and Research

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

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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. He is on the Board of Directors of the Economic Club of Minnesota.

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

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As Minneapolis Fed President

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Articles, Papers and Messages

Research Papers

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Research as a Minneapolis Fed Economist

  • Money and Bonds: An Equivalence Theorem
    July 2007 - Staff Report 393
  • Household Heterogeneity and Real Exchange Rates
    April 2006 - Staff Report 372
    Published In: Economic Journal (Vol. 117, 2007, pp. C1-C25)
  • Optimal Monetary Policy: What We Know and What We Don’t Know
    October 2005 - Quarterly Review 2912
    Published In: International Economic Review (Vol. 46, No. 2, May 2005, pp. 715-729)
  • Optimal Indirect and Capital Taxation
    September 2001 - Staff Report 293
    Published In: Review of Economic Studies (Vol. 70, No. 3, July 2003, pp. 569-587)
  • Looking for Evidence of Time-Inconsistent Preferences in Asset Market Data
    July 2001 - Quarterly Review 2532
  • Optimal Indirect and Capital Taxation
    June 2001 - Working Paper 615
  • 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

    Cycles and Growth

    Dynamic Contracting and Dynamic Games

    Money and Banking

    Optimal Taxation

    View all prior research by Kocherlakota sorted by topic and date


    Narayana Kocherlakota