Most cited papers in Monetary Policy and Economic Impact
What are the most cited papers in Monetary Policy and Economic Impact?
The most cited paper in Monetary Policy and Economic Impact is "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations" (Manuel Arellano, Stephen Bond, 1991), with 33,547 citations. Next come "Co-Integration and Error Correction: Representation, Estimation, and Testing" (32,272) and "Generalized autoregressive conditional heteroskedasticity" (22,677).
Showing 50 of 98 papers. Every paper with more than 2,601 citations is listed.
| # | Paper | ||
|---|---|---|---|
| 1 | Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations Manuel Arellano, Stephen Bond · The Review of Economic Studies | Apr 1991 | 33,547 |
| 2 | Co-Integration and Error Correction: Representation, Estimation, and Testing Robert F. Engle, C. W. J. Granger · Econometrica | Mar 1987 | 32,272 |
| 3 | Generalized autoregressive conditional heteroskedasticity Tim Bollerslev · Journal of Econometrics | Apr 1986 | 22,677 |
| 4 | Bounds testing approaches to the analysis of level relationships M. Hashem Pesaran, Yongcheol Shin, Richard J. Smith · Journal of Applied Econometrics | May 2001 | 20,229 |
| 5 | Another look at the instrumental variable estimation of error-components models Manuel Arellano, Olympia Bover · Journal of Econometrics | Jul 1995 | 20,111 |
| 6 | Testing for a unit root in time series regression Peter C.B. Phillips, Pierre Perrón · Biometrika | 1988 | 18,270 |
| 7 | Statistical analysis of cointegration vectors Søren Johansen · Journal of Economic Dynamics and Control | Jun 1988 | 16,966 |
| 8 | Testing for unit roots in heterogeneous panels Kyung So Im, M. Hashem Pesaran, Yongcheol Shin · Journal of Econometrics | 30 Apr 2003 | 15,285 |
| 9 | MAXIMUM LIKELIHOOD ESTIMATION AND INFERENCE ON COINTEGRATION — WITH APPLICATIONS TO THE DEMAND FOR MONEY Søren Johansen, Katarina Jusélius · Oxford Bulletin of Economics and Statistics | May 1990 | 14,204 |
| 10 | Unit root tests in panel data: asymptotic and finite-sample properties Andrew Levin, Chien‐Fu Lin, Chia-Shang James Chu · Journal of Econometrics | May 2002 | 12,910 |
| 11 | Testing the null hypothesis of stationarity against the alternative of a unit root Denis Kwiatkowski, Peter C.B. Phillips, Peter Schmidt et al. · Journal of Econometrics | Oct 1992 | 12,778 |
| 12 | A simple panel unit root test in the presence of cross‐section dependence M. Hashem Pesaran · Journal of Applied Econometrics | Mar 2007 | 12,618 |
| 13 | Discretion versus policy rules in practice John B. Taylor · Carnegie-Rochester Conference Series on Public Policy | Dec 1993 | 9,166 |
| 14 | Staggered prices in a utility-maximizing framework Guillermo A. Calvo · Journal of Monetary Economics | Sep 1983 | 7,505 |
| 15 | Instrumental Variables Regression with Weak Instruments Douglas O. Staiger, James H. Stock · Econometrica | May 1997 | 7,490 |
| 16 | Dynamic Conditional Correlation Robert F. Engle · Journal of Business and Economic Statistics | Jul 2002 | 7,250 |
| 17 | A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test Gangadharrao S. Maddala, Shaowen Wu · Oxford Bulletin of Economics and Statistics | Nov 1999 | 6,949 |
| 18 | What To Do (and Not to Do) with Time-Series Cross-Section Data Nathaniel L. Beck, Jonathan Ned Katz · American Political Science Review | Sep 1995 | 6,823 |
| 19 | PANEL COINTEGRATION: ASYMPTOTIC AND FINITE SAMPLE PROPERTIES OF POOLED TIME SERIES TESTS WITH AN APPLICATION TO THE PPP HYPOTHESIS Peter L. Pedroni · Econometric Theory | Jun 2004 | 6,683 |
| 20 | On the measurement of inequality Anthony Barnes Atkinson · Journal of Economic Theory | Sep 1970 | 6,487 |
| 21 | Pooled Mean Group Estimation of Dynamic Heterogeneous Panels M. Hashem Pesaran, Yongcheol Shin, Ron P Smith · Journal of the American Statistical Association | Jun 1999 | 6,479 |
| 22 | The Log of Gravity João Santos Silva, Silvana Tenreyro · The Review of Economics and Statistics | Nov 2006 | 6,368 |
| 23 | An equilibrium characterization of the term structure Oldrich Alfons Vasicek · Journal of Financial Economics | Nov 1977 | 6,305 |
| 24 | Generalized impulse response analysis in linear multivariate models M. Hashem Pesaran, Yongcheol Shin · Economics Letters | 1998 | 6,198 |
| 25 | On a measure of lack of fit in time series models Greta M. Ljung, George E. P. Box · Biometrika | Aug 1978 | 6,157 |
| 26 | Statistical inference in vector autoregressions with possibly integrated processes Hiro Y. Toda, Taku Yamamoto · Journal of Econometrics | Mar 1995 | 6,075 |
| 27 | Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy Lawrence J. Christiano, Martin Eichenbaum, Charles L. Evans · Journal of Political Economy | Feb 2005 | 6,048 |
| 28 | Testing for Error Correction in Panel Data* Joakim Westerlund · Oxford Bulletin of Economics and Statistics | 25 Jul 2007 | 6,030 |
| 29 | A finite sample correction for the variance of linear efficient two-step GMM estimators Frank A. G. Windmeijer · Journal of Econometrics | 23 Mar 2004 | 6,007 |
| 30 | The Impact of Uncertainty Shocks Nicholas Bloom · Econometrica | 2009 | 5,984 |
| 31 | Testing slope homogeneity in large panels M. Hashem Pesaran, Takashi Yamagata · Journal of Econometrics | 25 May 2007 | 5,892 |
| 32 | Testing for Granger non-causality in heterogeneous panels Elena-Ivona Dumitrescu, Christophe Hurlin · Economic Modelling | 22 Mar 2012 | 5,865 |
| 33 | Better to give than to receive: Predictive directional measurement of volatility spillovers Francis X. Diebold, Kamil Yılmaz · International Journal of Forecasting | 26 May 2011 | 5,816 |
| 34 | Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis Eric W. Zivot, Donald W. K. Andrews · Journal of Business and Economic Statistics | 2002 | 5,801 |
| 35 | Spurious regression and residual-based tests for cointegration in panel data Chihwa D. Kao · Journal of Econometrics | May 1999 | 5,794 |
| 36 | The equity premium: A puzzle Rajnish Mehra, Edward C. Prescott · Journal of Monetary Economics | Mar 1985 | 5,789 |
| 37 | INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY Michael Woodford, Carl E. Walsh · Macroeconomic Dynamics | Jun 2005 | 5,751 |
| 38 | Another look at measures of forecast accuracy Rob J. Hyndman, Anne B. Koehler · International Journal of Forecasting | 25 May 2006 | 5,682 |
| 39 | Threshold effects in non-dynamic panels: Estimation, testing, and inference Bruce E. Hansen · Journal of Econometrics | Dec 1999 | 5,173 |
| 40 | Impulse response analysis in nonlinear multivariate models Gary M. Koop, M. Hashem Pesaran, Simon Potter · Journal of Econometrics | Sep 1996 | 5,158 |
| 41 | A Note on the Theme of Too Many Instruments * David Malin Roodman · Oxford Bulletin of Economics and Statistics | 16 Jan 2009 | 5,130 |
| 42 | Comparing Predictive Accuracy Francis X. Diebold, Roberto S. Mariano · Journal of Business and Economic Statistics | Jul 1995 | 5,100 |
| 43 | The Science of Monetary Policy: A New Keynesian Perspective Richard H. Clarida, Jordi Gaĺı, Mark L. Gertler · Journal of Economic Literature | Dec 1999 | 5,036 |
| 44 | The Next Generation of the Penn World Table Robert C. Feenstra, Robert Inklaar, Marcel P. Timmer · American Economic Review | Oct 2015 | 4,862 |
| 45 | Expectations and the neutrality of money Robert E. Lucas · Journal of Economic Theory | Apr 1972 | 4,816 |
| 46 | Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory* Richard H. Clarida, Jordi Gaĺı, Mark L. Gertler · The Quarterly Journal of Economics | Feb 2000 | 4,787 |
| 47 | Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach Frank R. Smets, Rafael Wouters · American Economic Review | May 2007 | 4,754 |
| 48 | Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors Peter L. Pedroni · Oxford Bulletin of Economics and Statistics | Nov 1999 | 4,748 |
| 49 | Trends and random walks in macroeconmic time series Charles R. Nelson, Charles R. Plosser · Journal of Monetary Economics | 1982 | 4,725 |
| 50 | Estimation and Inference of Impulse Responses by Local Projections Òscar Jordà · American Economic Review | Feb 2005 | 4,713 |
Citations are OpenAlex's own counts, from its 2026-09-23 snapshot, so the ranking can differ from Google Scholar or Web of Science. A paper is listed for a field when OpenAlex files it under one of the field's topics; retracted papers and papers whose citation count cannot be traced to citing works are left out, and a preprint and the article it became are shown once. Release dates are OpenAlex's: where a source gave only a month or a year, that is what is shown. How the lists are chosen.