Timothy J. KehoeConsultant, University of Minnesota, and National Bureau of Economic Research
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Tim Kehoe has been an advisor at the Federal Reserve Bank of Minneapolis since 2000. A native of Newport, Rhode Island, he received his B.A. in economics and mathematics from Providence College in 1975, and his Ph.D. in economics from Yale University in 1979.
A professor at the University of Minnesota since 1987, Tim is currently the Distinguished McKnight University Professor in the Department of Economics and a research associate at the National Bureau of Economic Research. His research and teaching center on the theory and application of general equilibrium models. He has advised several foreign governments, including Spain on the impact of joining the European Community in 1986, Mexico on the impact of joining the North America Free Trade Agreement in 1994, and Panama regarding foreign trade and investment reform in 1997-98.
Tim’s distinguished career has included numerous visiting professorships at universities across the globe, authoring more than 120 books and academic articles and supervising or co-supervising more than 100 Ph.D. theses in economics. He has received numerous research grants and awards, including nine grants from the National Science Foundation. He has been a Fellow of the Econometric Society since 1991. He was made Doctor Honoris Causa by the Universidade de Vigo in 2008 and by the Universitat Autònoma de Barcelona in 2016.
Content by Timothy
- Quarterly Review 4522 | August 2025 (Vol. 45 No. 2)Timothy J. Kehoe and Xing Xu
- Staff Report 673 (August 2025)Timothy J. Kehoe and Xing Xu
- Staff Report 662 (December 2024)Aloisio Araujo, Juan Pablo Gama, and Timothy J. Kehoe
Published in: Economic Theory (Vol. 80, Iss. 2, September 2025, 515-540), https://doi.org/10.1007/s00199-024-01631-3.
- Working Paper 806 (June 2024)Victor Almeida, Carlos Esquivel, Timothy J. Kehoe, and Juan Pablo Nicolini
- Staff Report 654 (Revised March 2024)Juan Carlos Conesa and Timothy J. Kehoe
Published in: Journal of International Economics (Vol. 150, July 2024, article 103914), https://doi.org/10.1016/j.jinteco.2024.103914.
- Staff Report 631 (Revised December 2021)Pascal Gauthier, Timothy J. Kehoe, and Erwan Quintin
Published in: Economic Theory (Vol. 73, Iss. 2-3, April 2022, pp. 541-564), https://doi.org/10.1007/s00199-021-01406-0.
- Staff Report 544 (September 2021)Jose Asturias, Sewon Hur, Timothy J. Kehoe, and Kim J. Ruhl
Published in: American Economic Journal: Macroeconomics (Vol. 15, No. 1, January 2023, pp. 48-105), https://doi.org/10.1257/mac.20200376.
- Staff Report 608 (July 2020)Carlos Esquivel, Timothy J. Kehoe, and Juan Pablo Nicolini
This paper was written as part of the Monetary and Fiscal History of Latin America Project sponsored by the Becker Friedman Institute at the University of Chicago. It is now a chapter in A Monetary and Fiscal History of Latin America, 1960—2017, edited by Timothy J. Kehoe and Juan Pablo Nicolini (University of Minnesota Press, 2021, pp. 537-565).
- Staff Report 607 (July 2020)Timothy J. Kehoe, Juan Pablo Nicolini, and Thomas J. Sargent
This paper was written as part of the Monetary and Fiscal History of Latin America Project sponsored by the Becker Friedman Institute at the University of Chicago. It is now a chapter in A Monetary and Fiscal History of Latin America, 1960—2017, edited by Timothy J. Kehoe and Juan Pablo Nicolini (University of Minnesota Press, 2021, pp. 19-42).
- Staff Report 583 (January 2020)Juan Carlos Conesa, Timothy J. Kehoe, Vegard M. Nygaard, and Gajendran Raveendranathan
Published in: European Economic Review (Vol. 122, February 2020, article 103363), https://doi.org/10.1016/j.euroecorev.2019.103363
- Staff Report 579 (February 2019)Timothy J. Kehoe, Carlos Gustavo Machicado, and José Peres-Cajías
This paper was written as part of the Monetary and Fiscal History of Latin America Project sponsored by the Becker Friedman Institute at the University of Chicago. It is now the chapter, “The History of Bolivia,” in A Monetary and Fiscal History of Latin America, 1960—2017, edited by Timothy J. Kehoe and Juan Pablo Nicolini (University of Minnesota Press, 2021, pp. 85–125).
- Staff Report 489 (February 2018)Timothy J. Kehoe, Kim J. Ruhl, and Joseph B. Steinberg
Published in: Journal of Political Economy (Vol. 126, No. 2, April 2018, pp. 761-796) https://doi.org/10.1086/696279.
- Staff Report 465 (October 2017)Juan Carlos Conesa and Timothy J. Kehoe
Published in: Economic Theory (Vol. 64, No. 4, December 2017, pp. 707–740), https://doi.org/10.1007/s00199-017-1085-5.
- Staff Report 550 (July 2017)Juan Carlos Conesa and Timothy J. Kehoe
Published in: SERIEs, Journal of the Spanish Economic Association (Vol. 8, No. 3, August 2017, pp. 201–223), https://doi.org/10.1007/s13209-017-0158-9.
- Staff Report 537 (May 2017)Timothy J. Kehoe, Pau S. Pujolàs, and Jack Rossbach
Published in: Annual Review of Economics (Vol. 9, No. 1, 2017, pp. 295-325) https://doi.org/10.1146/annurev-economics-080614-115502.
- Staff Report 548 (April 2017)Juan Carlos Conesa, Daniela Costa, Parisa Kamali, Timothy J. Kehoe, Vegard M. Nygaard, Gajendran Raveendranathan, and Akshar Saxena
Published in: Journal of the Economics of Ageing (Vol. 11, May 2018, pp. 27-40) https://doi.org/10.1016/j.jeoa.2017.06.002.
- Staff Report 533 (August 2016)Timothy J. Kehoe, Pau S. Pujolàs, and Kim J. Ruhl
Published in: Economics Letters (Vol. 146, September 2016, pp. 1-3), https://doi.org/10.1016/j.econlet.2016.07.012.
- Staff Report 521 (November 2015)Jose Asturias, Sewon Hur, Timothy J. Kehoe, and Kim J. Ruhl
Published in: Journal of Economic Dynamics and Control (Vol. 72, November 2016, pp. 45-66) https://doi.org/10.1016/j.jedc.2016.05.006.
- Staff Report 377 (April 2014)Timothy J. Kehoe and Claustre Bajona
- Staff Report 497 (February 2014)Juan Carlos Conesa and Timothy J. Kehoe
Published in: American Economic Review (Vol. 104, No. 5, May 2014, pp. 88-93) https://doi.org/10.1257/aer.104.5.88.
- Staff Report 492 (January 2014)Timothy J. Kehoe, Kim J. Ruhl, and Jack Rossbach
Published in: Journal of International Economics (Vol. 96, No. 2, July 2015, pp. 289-297) https://doi.org/10.1016/j.jinteco.2015.03.004.
- Staff Report 324 (April 2013)Timothy J. Kehoe and Kim J. Ruhl
Published in: Journal of Political Economy (Vol. 121, No. 2, April 2013, pp. 358-392) https://doi.org/10.1086/670272.
- Working Paper 693 (November 2012)Timothy J. Kehoe and Felipe Meza
Published in: Latin American Journal of Economics (Vol. 48, No. 2, November 2011, pp. 227-268), https://doi.org/10.4067/S0719-04332011000200006.
- Staff Report 453 (November 2010)Timothy J. Kehoe and Kim J. Ruhl
Published in: Journal of Economic Literature (Vol. 48, No. 4, December 2010, pp. 1005-1027) https://doi.org/10.1257/jel.48.4.1005.
- Staff Report 421 (April 2009)Timothy J. Kehoe and Gonzalo Fernandez de Cordoba
- Staff Report 418 (December 2008)Edward C. Prescott and Timothy J. Kehoe
- Staff Report 415 (October 2008)Timothy J. Kehoe and Caroline M. Betts
- Staff Report 414 (October 2008)Timothy J. Kehoe and Kim J. Ruhl
Published in: Journal of Development Economics (Vol. 89, No. 2, July 2009, pp. 235-249) https://doi.org/10.1016/j.jdeveco.2009.01.003.
- Staff Report 378 (October 2008)Timothy J. Kehoe and Claustre Bajona
Published in: Review of Economic Dynamics (Vol. 13, No. 3, July 2010, pp. 487-513) https://doi.org/10.1016/j.red.2010.05.002.
- Staff Report 391 (January 2008)Timothy J. Kehoe and Kim J. Ruhl
Published in: Review of Economic Dynamics (Vol. 11, No. 4, October 2008, pp. 804-819) https://doi.org/10.1016/j.red.2008.04.001.
- Staff Report 401 (November 2007)Timothy J. Kehoe, Kim J. Ruhl, and Juan Carlos Conesa
Published in: Quarterly Review (Vol. 31, No. 1, November 2007, pp. 16-44) https://doi.org/10.21034/qr.3112.
- Quarterly Review 3112 | November 2007 (Vol. 31 No. 1)Timothy J. Kehoe, Kim J. Ruhl, and Juan Carlos Conesa
- Staff Report 380 (October 2006)Timothy J. Kehoe and David K. Levine
Published in: Macroeconomics in the Small and the Large: Essays on Microfoundations, Macroeconomic Applications, and Economic History in Honor of Axel Leijonhufvud (2008, pp. 99-114)
- Staff Report 334 (March 2004)Timothy J. Kehoe and Caroline M. Betts
Published in: Journal of Monetary Economics (Vol. 53, No. 7, October 2006, pp. 1297-1326) https://doi.org/10.1016/j.jmoneco.2005.05.011.
- Staff Report 320 (August 2003)Timothy J. Kehoe
Published in: Frontiers in Applied General Equilibrium Modeling: In Honor of Herbert Scarf (2005, pp. 341-377) https://doi.org/10.1017/CBO9780511614330.014.
- Staff Report 318 (July 2003)Timothy J. Kehoe
Published in: Scottish Journal of Political Economy (Vol. 50, No. 5, November 2003, pp. 609-633) https://doi.org/10.1111/j.0036-9292.2003.05005002.x.
- Quarterly Review 2611 | Winter 2002 (Vol. 26 No. 1)Patrick J. Kehoe, Timothy J. Kehoe, Raimundo Soto, and Raphael Bergoeing
This article is a revision of an article published in the Review of Economic Dynamics (January 2002, vol. 5, no. 1, pp. 166-205). The article appears here with the permission of Academic Press and Elsevier Science. Copyright 2002 by Elsevier Science. All rights reserved. This article was edited for publication in the Federal Reserve Bank of Minneapolis Quarterly Review. https://doi.org/10.1006/redy.2001.0150
- Staff Report 292 (September 2001)Patrick J. Kehoe, Timothy J. Kehoe, Raimundo Soto, and Raphael Bergoeing
Published in: Review of Economic Dynamics (Vol. 5, No. 1, January 2002, pp. 166-205) https://doi.org/10.1006/redy.2001.0150.
- Staff Report 284 (March 2001)Timothy J. Kehoe and Raphael Bergoeing
- Staff Report 211 (July 1998)Timothy J. Kehoe and Harold L. Cole
Published in: Review of Economic Studies (Vol. 67, No. 1, January 2000, pp. 91-116) https://doi.org/10.1111/1467-937X.00123.
- Staff Report 210 (April 1996)Timothy J. Kehoe and Harold L. Cole
Published in: Journal of International Economics (Vol. 41, No. 3-4, November 1996, pp. 309-330) https://doi.org/10.1016/S0022-1996(96)01439-0.
- Working Paper 563 (January 1996)Timothy J. Kehoe
Published in: Applied Economics and Public Policy, I. Begg and B. Henry, Eds., 1998: pp. 59-87, https://doi.org/10.1017/CBO9780511559785.005.
- Working Paper 480 (October 1994)Timothy J. Kehoe, Clemente Polo, and Ferran Sancho
Published in: Economic Theory (Vol. 6, No. 1, June 1995, pp. 115-141), DOI https://doi.org/10.1007/BF01213943.
- Quarterly Review 1821 | Spring 1994 (Vol. 18 No. 2)Patrick J. Kehoe and Timothy J. Kehoe
Published in: Modeling North America's Economic Integration, edited by Patrick J. Kehoe and Timothy J. Kehoe (Kluwer Academic Publishers, 1995, pp. 1-31).
- Quarterly Review 1822 | Spring 1994 (Vol. 18 No. 2)Patrick J. Kehoe and Timothy J. Kehoe
Published In: Modeling North America's Economic Integration (1995, pp. 33-57)
- Staff Report 152 (July 1992)Patrick J. Kehoe, Timothy J. Kehoe, and David K. Backus
Published in: Journal of Economic Theory (Vol. 58, No. 2, December 1992, pp. 377-409) https://doi.org/10.1016/0022-0531(92)90060-U.
- Working Paper 491 (May 1992)Timothy J. Kehoe
Published in: Economy-Wide Modeling of the Economic Implications of an FTA with Mexico and a NAFTA with Canada and the United States (1992, pp. 249-276).
- Working Paper 445 (May 1992)Timothy J. Kehoe and David K. Levine
Published in: Review of Economic Studies (Vol. 60, No. 4, October 1993, pp. 865-888), https://doi.org/10.2307/2298103.
- Working Paper 460 (October 1991)Timothy J. Kehoe
Published in: Handbook of Mathematical Economics (Vol. 4, 1991, Chapter 38, pp. 2049-2144), https://doi.org/10.1016/S1573-4382(05)80013-X.
- Staff Report 140 (May 1991)Timothy J. Kehoe, Nobuhiro Kiyotaki, and Randall Wright
Published in: Economic Theory (Vol. 3, No. 2, April 1993, pp. 297-314) https://doi.org/10.1007/BF01212919.
- Working Paper 436 (November 1990)Timothy J. Kehoe, David K. Levine, and Paul M. Romer
Published in: Economic Theory (Vol. 2, No. 1, January 1992, pp. 43-68), https://doi.org/10.1007/BF01213252.
- Working Paper 404 (July 1990)Timothy J. Kehoe, David K. Levine, and Michael Woodford
Published in: Economic Analysis of Markets and Games: Essays in Honor of Frank Hahn, edited by Partha Dasgupta, Douglas Gale, Oliver Hart, and Eric Maskin (MIT Press, 1992, pp. 501-526).
- Staff Report 118 (March 1989)Timothy J. Kehoe, David K. Levine, and Paul M. Romer
Published in: Journal of Economic Theory (Vol. 50, No. 1, February 1990, pp. 1-21) https://doi.org/10.1016/0022-0531(90)90082-U.
Related paper: Working Paper 400: Determinacy of Equilibria in Dynamic Models with Finitely Many Consumers
- Working Paper 400 (October 1988)Paul M. Romer, David K. Levine, and Timothy J. Kehoe
Published in: Journal of Economic Theory (Vol. 50, Iss. 1, February 1990, pp. 1-21), https://doi.org/10.1016/0022-0531(90)90082-U.
An updated version was published as: Staff Report 118