Andrew Lee Smith is a Vice President and Economist in the Economic Research Department of the Federal Reserve Bank of Kansas City. In this role, Lee has oversight of macroeconomic and monetary policy research and serves as a policy advisor. Prior to joining the Bank in 2014, Lee received a Ph.D. in economics from the University of Kansas. He also holds a B.A. in economics and mathematics from Drury University in Springfield, Missouri.

Professional Journals and Books

  • “A New Approach to Integrating Expectations into VAR Models” with Taeyoung Doh, Journal of Monetary Economics, vol. 132(C), pages 24-43.
  • "The Dynamic Effects of Forward Guidance Shocks" with Brent Bundick, The Review of Economics and Statistics, Volume 102, December 2020, pp. 946-965.
  • "The Optimal Monetary Instrument and the (Mis)Use of Causality Tests" with John W. Keating, Journal of Financial Stability, Volume 42, June 2019, pp. 90-99.
  • "A Model of Monetary Policy Shocks for Financial Crises and Normal Conditions" with John W. Keating, Logan J. Kelly, and Victor J. Valcarcel, Journal of Money, Credit, and Banking, Volume 51, February 2019, pp. 227-259.
  • "When Does the Cost Channel Pose a Challenge to Inflation Targeting Central Banks?" European Economic Review, Volume 89, October 2016, pp. 471-494.

Economic Review Articles

Research Working Papers

Economic Bulletin (formerly "The Macro Bulletin")