Contact Information
202-452-2478
edward.nelson@frb.gov

Fields of Interest
Monetary Economics
Macroeconomics

Education
Ph.D., Economics, Carnegie Mellon University, 1998
B.Ec., Economics, University of Sydney, 1993

Professional Experience
Board of Governors of the Federal Reserve System, 2009-present
Assistant Vice President, Federal Reserve Bank of St. Louis, 2006-2009
Research Officer, Federal Reserve Bank of St. Louis, 2003-2006
Research Advisor to the Monetary Policy Committee, Bank of England, 2000-2003
Economist, Monetary Assessment and Strategy Division, Bank of England, 1998-2000

Selected Publications

• ''An Overhaul of Doctrine: The Underpinning of U.K. Inflation Targeting,'' Economic Journal, vol. 119 (June 2009), pp. F333-F368.
• ''Milton Friedman and U.K. Economic Policy: 1938-1979,'' Federal Reserve Bank of St. Louis Working Paper, vol. 2009017 (April 2009).
• ''Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model'' (with Riccardo DiCecio), NBER Working Paper, vol. 14894 (April 2009).
• ''The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes'' (with Riccardo DiCecio), NBER Working Paper, vol. 14895 (April 2009).
• ''Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area'' (with Javier Andrés and David López-Salido), Journal of Economic Dynamics and Control, vol. 33 (March 2009), pp. 758-776.
• ''Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique,'' Journal of Money, Credit and Banking, vol. 40 (December 2008), pp. 1805-1828.
• ''Macroeconometric Equivalence, Microeconomic Dissonance, and the Design of Monetary Policy'' (with Andrew Levin, David López-Salido, and Tack Yun), Journal of Monetary Economics, vol. 55 (October 2008), pp. S48-S62.
• ''Rejoinder to Paul Krugman'' (with Anna J. Schwartz), Journal of Monetary Economics, vol. 55 (May 2008), pp. 861-862.
• ''The Impact of Milton Friedman on Modern Monetary Economics: Setting the Record Straight on Paul Krugman's "Who Was Milton Friedman?"'' (with Anna J. Schwartz), Journal of Monetary Economics, vol. 55 (May 2008), pp. 835-856.
• ''Ireland and Switzerland: The Jagged Edges of the Great Inflation,'' European Economic Review, vol. 52 (2008), pp. 700-732.
• ''The Great Inflation and Early Disinflation in Japan and Germany,'' International Journal of Central Banking, vol. 3 (December 2007), pp. 23-76.
• ''An Estimated DSGE Model for the United Kingdom'' (with Riccardo DiCecio), Federal Reserve Bank of St. Louis Review, vol. 89 (July 2007), pp. 215-231.
• ''Milton Friedman and U.S. Monetary History: 1961-2006,'' Federal Reserve Bank of St. Louis Review, vol. 89 (May 2007), pp. 153-182.
• ''United Kingdom Inflation Targeting and the Exchange Rate'' (with Christopher Allsopp and Amit Kara), Economic Journal, vol. 116 (June 2006), pp. F232-F244.
• ''The Great Inflation of the Seventies: What Really Happened?,'' Advances in Macroeconomics, vol. 5 (2005), pp. 1-50.
• ''Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand,'' International Journal of Central Banking, vol. 1 (May 2005), pp. 133-179.
• ''The Future of Monetary Aggregates in Monetary Policy Analysis,'' Journal of Monetary Economics, vol. 50 (July 2003), pp. 1029-1059.
• ''The Real Interest Rate Gap as an Inflation Indicator'' (with Katharine S. Neiss), Macroeconomic Dynamics, vol. 7 (April 2003), pp. 239-262.
• ''An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis'' (with Bennett T. McCallum), Journal of Money, Credit and Banking, vol. 31 (August 1999), pp. 296-316.
• ''Sluggish Inflation and Optimizing Models of the Business Cycle,'' Journal of Monetary Economics, vol. 42 (October 1998), pp. 303-322.