Recent working papers

Bounded Rationality and Macroeconomic (In)Stability
Alejandro Gurrola Luna and Stephen McKnight
Understanding Emerging Market Business Cycles
Stephen McKnight and Laura Povoledo

Journal publications

Limited Asset Market Participation and Monetary Policy in a Small Open Economy
​Paul Levine, Stephen McKnight, Alexander Mihailov and Jonathan Swarbrick
Journal of Economic Dynamics and Control ​(2025), vol. 173, 105047
Laffer Curves in Emerging Market Economies: The Role of Informality
​Carlos Alba and Stephen McKnight
​Journal of Macroeconomics (2022), vol. 72, 103411
​Endogenous Fluctuations and International Business Cycles
Stephen McKnight and Laura Povoledo
​Canadian Journal of Economics (2022), vol. 55 (1), pp. 312 - 348
Inflation Forecasting Using the New Keynesian Phillips Curve with a Time-Varying Trend
Stephen McKnight, Alexander Mihailov and Fabio Rumler
​​Economic Modelling (2020), vol. 87, pp. 383 - 393
What Do Latin American Inflation Targeters Care About? A Comparative Bayesian Estimation of Central Bank Preferences
Stephen McKnight, Alexander Mihailov and Antonio Pompa Rangel
Journal of Macroeconomics (2020), vol. 63, 103188
Investment and Forward-Looking Monetary Policy: A Wicksellian Solution to the Problem of Indeterminacy
Stephen McKnight
​​Macroeconomic Dynamics (2018), vol. 22 (5), pp. 1345 - 1369
Are Consumption Taxes Preferable to Income Taxes for Preventing Macroeconomic Instability?
Stephen McKnight
Macroeconomic Dynamics (2017), vol. 21 (4), pp. 1023 - 1058 ​
Do Real Balance Effects Invalidate the Taylor Principle in Closed and Open Economies?
​Stephen McKnight and Alexander Mihailov
​Economica (2015), vol. 82 (328), pp. 938 - 975
Is a Monetary Union Feasible for Latin America? Evidence from Real Effective Exchange Rates and Interest Rate Pass-Through Levels
​Stephen McKnight and Marco Robles Sánchez
​Estudios Económicos (2014), vol. 29 (2), pp. 225 - 262
Designing a Greenhouse Gas Emission Market for Mexico
​David Cantala, Stephen McKnight and Jaime Sempere
​Environment and Ecology Research (2013), vol. 1 (3), pp. 135 - 141
Should Central Banks Target Consumer or Producer Prices?
​Stephen McKnight
​International Finance (2011), vol. 14 (3), pp. 445 - 479
Investment and Interest Rate Policy in the Open Economy
Stephen McKnight
​​Oxford Economic Papers (2011), vol. 63 (4), pp. 673 - 699