NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Macroeconomics and Monetary Economics

Macroeconomics: Consumption, Saving, Production, Employment, and


2009
w15546 John M. Abowd
Francis Kramarz
Sébastien Pérez-Duarte
Ian Schmutte

A Formal Test of Assortative Matching in the Labor Market

w15525 David Backus
Espen Henriksen
Frederic Lambert
Christopher Telmer

Current Account Fact and Fiction

w15508 James B. Davies
Susanna Sandström
Anthony B. Shorrocks
Edward N. Wolff

The Level and Distribution of Global Household Wealth

w15496 Robert E. Hall
By How Much Does GDP Rise if the Government Buys More Output?

w15483 Jonathan Heathcote
Fabrizio Perri
Giovanni L. Violante

Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006

w15474 James Feyrer
The US Productivity Slowdown, the Baby Boom, and Management Quality

w15462 Todd M. Sinai
Nicholas S. Souleles

Can Owning a Home Hedge the Risk of Moving?

w15452 Eduardo Borensztein
Olivier Jeanne
Damiano Sandri

Macro-Hedging for Commodity Exporters

w15435 Alan L. Gustman
Thomas L. Steinmeier
Nahid Tabatabai

What the Stock Market Decline Means for the Financial Security and Retirement Choices of the Near-Retirement Population

w15427 Peter Howitt
Ömer Özak

Adaptive Consumption Behavior

w15421 Claudia R. Sahm
Matthew D. Shapiro
Joel B. Slemrod

Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications

w15416 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Two Perspectives on Preferences and Structural Transformation

w15404 Ravi Jagannathan
Mudit Kapoor
Ernst Schaumburg

Why are we in a recession? The Financial Crisis is the Symptom not the Disease!

w15373 Robert S. Pindyck
Neng Wang

The Economic and Policy Consequences of Catastrophes

w15369 Robert J. Barro
Charles J. Redlick

Macroeconomic Effects from Government Purchases and Taxes

w15340 Nicolae B. Gârleanu
Stavros Panageas
Jianfeng Yu

Technological Growth and Asset Pricing

w15312 Robert B. Barsky
Eric R. Sims

News Shocks

w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis

w15281 Casey B. Mulligan
Means-Tested Mortgage Modification: Homes Saved or Income Destroyed?

w15265 Christopher D. Carroll
Patrick Toche

A Tractable Model of Buffer Stock Saving

w15257 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Consumption and Labor Supply with Partial Insurance: An Analytical Framework

w15252 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Labor Market Outcomes: The Role of Choice and Chance

w15251 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

A Three State Model of Worker Flows in General Equilibrium

w15247 Robert J. Barro
Tao Jin

On the Size Distribution of Macroeconomic Disasters

w15243 Fatih Guvenen
A Parsimonious Macroeconomic Model for Asset Pricing

w15227 Yosef Bonaparte
Russell Cooper

Costly Portfolio Adjustment

w15204 Peter Blair Henry
Diego Sasson

Capital Market Integration and Wages

w15193 Cristina Arellano
Yan Bai
Jing Zhang

Firm Dynamics and Financial Development

w15169 Eswar S. Prasad
Rebalancing Growth in Asia

w15166 Mark Bils
Yongsung Chang
Sun-Bin Kim

Heterogeneity and Cyclical Unemployment

w15150 David H. Autor
David Dorn

Inequality and Specialization: The Growth of Low-Skill Service Jobs in the United States

w15149 Mariacristina De Nardi
Eric French
John Bailey Jones

Why do the Elderly Save? The Role of Medical Expenses

w15117 Michael W. L. Elsby
Matthew D. Shapiro

Stepping Off the Wage Escalator: The Effects of Wage Growth on Equilibrium Employment

w15113 James Feyrer
Jay C. Shambaugh

Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks

w15080 Yuriy Gorodnichenko
Klara Sabirianova Peter
Dmitriy Stolyarov

Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income

w15075 Charles Calomiris
Stanley D. Longhofer
William Miles

The (Mythical?) Housing Wealth Effect

w15059 Nicola Fuchs-Schündeln
Dirk Krueger
Mathias Sommer

Inequality Trends for Germany in the Last Two Decades: A Tale of Two Countries

w15049 Robert B. Barsky
Eric R. Sims

Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence

w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform

w15033 Dale T. Mortensen
Wage Dispersion in the Search and Matching Model with Intra-Firm Bargaining

w15030 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage and Unemployment

w15029 Diego A. Comin
Mark Gertler
Ana Maria Santacreu

Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations

w15021 Roger E. A. Farmer
Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative

w15011 Bulent Guler
Fatih Guvenen
Giovanni L. Violante

Joint-Search Theory: New Opportunities and New Frictions

w15010 Andrew B. Abel
Janice C. Eberly
Stavros Panageas

Optimal Inattention to the Stock Market with Information Costs and Transactions Costs

w14990 Heitor Almeida
Murillo Campello
Bruno Laranjeira
Scott Weisbenner

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

w14960 Boyan Jovanovic
Peter L. Rousseau

Extensive and Intensive Investment over the Business Cycle

w14915 Veronica Guerrieri
Robert Shimer
Randall Wright

Adverse Selection in Competitive Search Equilibrium

w14901 Hamish Low
Costas Meghir
Luigi Pistaferri

Wage Risk and Employment Risk over the Life Cycle

w14873 Stefania Albanesi
Claudia Olivetti

Gender Roles and Medical Progress

w14872 Frank Schorfheide
Keith Sill
Maxym Kryshko

DSGE Model-Based Forecasting of Non-modelled Variables

w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk

w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management

w14833 Francesc Ortega
Giovanni Peri

The Causes and Effects of International Migrations: Evidence from OECD Countries 1980-2005

w14818 Laurence M. Ball
Hysteresis in Unemployment: Old and New Evidence

w14788 Jason Beeler
John Y. Campbell

The Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment

w14772 Lars Ljungqvist
Harald Uhlig

Optimal Endowment Destruction under Campbell-Cochrane Habit Formation

w14768 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Quantitative Macroeconomics with Heterogeneous Households

w14760 Robert J. Barro
José F. Ursúa

Stock-Market Crashes and Depressions

w14754 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Risk Preferences in the PSID: Individual Imputations and Family Covariation

w14753 Matthew D. Shapiro
Joel B. Slemrod

Did the 2008 Tax Rebates Stimulate Spending?

w14743 Joseph G. Altonji
Anthony Smith
Ivan Vidangos

Modeling Earnings Dynamics

w14740 Giuseppe Moscarini
Fabien Postel-Vinay

Large Employers Are More Cyclically Sensitive

w14730 Jess Benhabib
Alberto Bisin

The distribution of wealth and fiscal policy in economies with finitely lived agents

w14729 Casey Mulligan
What Caused the Recession of 2008? Hints from Labor Productivity

w14676 Michael Burda
Daniel S. Hamermesh

Unemployment, Market Work and Household Production

w14665 Jonathan A. Parker
Annette Vissing-Jorgensen

Who Bears Aggregate Fluctuations and How?

w14663 Michael G. Palumbo
Jonathan A. Parker

The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?

w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation

w14653 Mariacristina De Nardi
Eric French
John Bailey Jones

Life Expectancy and Old Age Savings

w14652 David Autor
David Dorn

This Job is 'Getting Old:' Measuring Changes in Job Opportunities Using Occupational Age Structure

w14639 Charles Yuji Horioka
Do Bequests Increase or Decrease Wealth Inequalities?


2008
w14617 Michael Elsby
Bart Hobijn
Aysegul Sahin

Unemployment Dynamics in the OECD

w14580 Loretti I. Dobrescu
Laurence J. Kotlikoff
Alberto F. Motta

Why Aren't Developed Countries Saving?

w14584 Tommaso Monacelli
Roberto Perotti

Fiscal Policy, Wealth Effects, and Markups

w14553 Harald Uhlig
The Slow Decline of East Germany

w14546 Marcos Chamon
Eswar Prasad

Why are Saving Rates of Urban Households in China Rising?

w14514 Casey B. Mulligan
A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance

w14446 Casey Mulligan
Luke Threinen

Market Responses to the Panic of 2008

w14430 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?

w14402 Christopher L. House
Fixed Costs and Long-Lived Investments

w14389 Andrew T. Foerster
Pierre-Daniel G. Sarte
Mark W. Watson

Sectoral vs. Aggregate Shocks: A Structural Factor Analysis of Industrial Production

w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Intermediated Quantities and Returns

w14329 Robert E. Hall
Alan B. Krueger

Wage Formation between Newly Hired Workers and Employers: Survey Evidence

w14300 Steven J. Davis
R. Jason Faberman
John Haltiwanger
Ron Jarmin
Javier Miranda

Business Volatility, Job Destruction, and Unemployment

w14262 Pol Antrŕs
Esteban Rossi-Hansberg

Organizations and Trade

w14259 Olivier J. Blanchard
The State of Macro

w14228 Markus K. Brunnermeier
Filippos Papakonstantinou
Jonathan A. Parker

An Economic Model of the Planning Fallacy

w14208 Miles S. Kimball
Matthew D. Shapiro

Labor Supply: Are the Income and Substitution Effects Both Large or Both Small?

w14204 Willem H. Buiter
Housing Wealth Isn't Wealth

w14128 Jess Benhabib
Shenghao Zhu

Age, Luck, and Inheritance

w14105 Alan L. Gustman
Thomas Steinmeier

How Changes in Social Security Affect Recent Retirement Trends

w14097 Alessandra Fogli
Laura Veldkamp

Nature or Nurture? Learning and the Geography of Female Labor Force Participation

w14052 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

The Macroeconomic Implications of Rising Wage Inequality in the United States

w13986 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Unemployment Trade-Off at Low Inflation

w13940 Robert J. Barro
José F. Ursúa

Macroeconomic Crises since 1870

w13966 Francisco J. Gomes
Laurence J. Kotlikoff
Luis M. Viceira

Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds

w13955 Emmanuel Farhi
Jean Tirole

Competing Liquidities: Corporate Securities, Real Bonds and Bubbles

w13953 Martin S. Feldstein
Did Wages Reflect Growth in Productivity?

w13924 Aleksander Berentsen
Guido Menzio
Randall Wright

Inflation and Unemployment in the Long Run

w13911 Francesco Giavazzi
Michael McMahon

Policy Uncertainty and Precautionary Savings

w13896 Hanno Lustig
Stijn Van Nieuwerburgh
Adrien Verdelhan

The Wealth-Consumption Ratio

w13894 Noah Williams
Persistent Private Information

w13893 Mark Aguiar
Erik Hurst

Deconstructing Lifecycle Expenditure

w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity

w13876 Christopher D. Carroll
Jiri Slacalek
Martin Sommer

International Evidence on Sticky Consumption Growth

w13872 Richard Rogerson
Lodewijk P. Visschers
Randall Wright

Labor Market Fluctuations in the Small and in the Large

w13871 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Implications of Indivisible Labor, Incomplete Markets, and Labor Market Frictions

w13867 Melissa Bjelland
Bruce Fallick
John Haltiwanger
Erika McEntarfer

Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data

w13866 Janice Eberly
Sergio Rebelo
Nicolas Vincent

Investment and Value: A Neoclassical Benchmark

w13851 Francesco D'Amuri
Gianmarco I.P. Ottaviano
Giovanni Peri

The Labor Market Impact of Immigration in Western Germany in the 1990's

w13840 Ian Dew-Becker
Robert J. Gordon

The Role of Labor Market Changes in the Slowdown of European Productivity Growth

w13837 Mark Aguiar
Erik Hurst

The Increase in Leisure Inequality

w13819 Giuseppe Moscarini
Francis G. Vella

Occupational Mobility and the Business Cycle

w13789 Erik Hurst
The Retirement of a Consumption Puzzle

w13777 Michael W. L. Elsby
Ryan Michaels

Marginal Jobs, Heterogeneous Firms, & Unemployment Flows

w13772 Fernando Alvarez
Robert Shimer

Search and Rest Unemployment

w13755 Julio J. Rotemberg
Minimally Altruistic Wages and Unemployment in a Matching Model


2007
w13707 Matthias Doepke
Moshe Hazan
Yishay Maoz

The Baby Boom and World War II: A Macroeconomic Analysis

w13694 Sumit Agarwal
Chunlin Liu
Nicholas S. Souleles

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data

w13693 Todd Sinai
Nicholas S. Souleles

Net Worth and Housing Equity in Retirement

w13690 Robert J. Barro
Rare Disasters, Asset Prices, and Welfare Costs

w13682 John B. Taylor
Housing and Monetary Policy

w13673 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Insurance and Opportunities: A Welfare Analysis of Labor Market Risk

w13666 Yuriy Gorodnichenko
Using Firm Optimization to Evaluate and Estimate Returns to Scale

w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow

w13651 Ann Bartel
Casey Ichniowski
Kathryn Shaw
Ricardo Correa

International Differences in the Adoption and Impact of New Information Technologies and New HR Practices: The Valve-Making Industry in the U.S. and U.K.

w13646 Florin Bilbiie
Fabio Ghironi
Marc J. Melitz

Endogenous Entry, Product Variety, and Business Cycles

w13624 David Backus
Espen Henriksen
Kjetil Storesletten

Taxes and the Global Allocation of Capital

w13619 Eswar S. Prasad
Raghuram G. Rajan
Arvind Subramanian

Foreign Capital and Economic Growth

w13614 Dora Gicheva
Justine Hastings
Sofia Villas-Boas

Revisiting the Income Effect: Gasoline Prices and Grocery Purchases

w13674 Andreas Hornstein
Per Krusell
Giovanni L. Violante

Frictional Wage Dispersion in Search Models: A Quantitative Assessment

w13592 Jeremy Greenwood
Karen A. Kopecky

Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach

w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk

w13577 Michael D. Bordo
Christopher M. Meissner

Foreign Capital and Economic Growth in the First Era of Globalization

w13570 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Corporate Financial Policies With Overconfident Managers

w13566 Frederic S. Mishkin
Will Monetary Policy Become More of a Science?

w13560 Thomas Philippon
Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?

w13518 Frederic S. Mishkin
Housing and the Monetary Transmission Mechanism

w13505 David G. Blanchflower
Is Unemployment More Costly Than Inflation?

w13499 Ellen R. McGrattan
Edward C. Prescott

Unmeasured Investment and the Puzzling U.S. Boom in the 1990s

w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction

w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.

w13421 Robert Shimer
Reassessing the Ins and Outs of Unemployment

w13412 Enrique G. Mendoza
Vincenzo Quadrini
José-Victor Ríos-Rull

On the Welfare Implications of Financial Globalization without Financial Development

w13406 Roger E. A. Farmer
Aggregate Demand and Supply

w13394 Fatih Guvenen
An Empirical Investigation of Labor Income Processes

w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete

w13385 Nicholas Bloom
The Impact of Uncertainty Shocks

w13379 Alan L. Gustman
Thomas Steinmeier
Nahid Tabatabai

Imperfect Knowledge of Pension Plan Type

w13373 Raquel Fernandez
Culture as Learning: The Evolution of Female Labor Force Participation over a Century

w13368 Olivier J. Blanchard
Jordi Gali

The Macroeconomic Effects of Oil Shocks: Why are the 2000s So Different from the 1970s?

w13363 Igor Livshits
James MacGee
Michčle Tertilt

Accounting for the Rise in Consumer Bankruptcies

w13337 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Imputing Risk Tolerance from Survey Responses

w13315 Simon Gilchrist
Jae W. Sim

Investment during the Korean Financial Crisis: A Structural Econometric Analysis

w13314 David Laibson
Andrea Repetto
Jeremy Tobacman

Estimating Discount Functions with Consumption Choices over the Lifecycle

w13302 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Growth and Industry Age

w13287 Dale T. Mortensen
Island Matching

w13273 Charles Yuji Horioka
Wataru Suzuki
Tatsuo Hatta

Aging, Saving, and Public Pensions in Japan

w13260 Bruce Preston
Mauro Roca

Incomplete Markets, Heterogeneity and Macroeconomic Dynamics

w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets

w13241 Pol Antrŕs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective

w13231 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage in Cyclical Unemployment

w13224 Mark Huggett
Gustavo Ventura
Amir Yaron

Sources of Lifetime Inequality

w13198 Satyajit Chatterjee
Esteban Rossi-Hansberg

Spin-offs and the Market for Ideas

w13185 Alexander Ludwig
Dirk Krueger
Axel H. Boersch-Supan

Demographic Change, Relative Factor Prices, International Capital Flows, and Their Differential Effects on the Welfare of Generations

w13174 Simon Gilchrist
Egon Zakrajsek

Investment and the Cost of Capital: New Evidence from the Corporate Bond Market

w13160 Marco Cagetti
Mariacristina De Nardi

Estate Taxation, Entrepreneurship, and Wealth

w13157 Francois Gourio
Anil K Kashyap

Investment Spikes: New Facts and a General Equilibrium Exploration

w13149 Devashish Mitra
Priya Ranjan

Offshoring and Unemployment

w13143 Roberto Perotti
In Search of the Transmission Mechanism of Fiscal Policy

w13115 Russell Cooper
John Haltiwanger
Jonathan L. Willis

Implications of Search Frictions: Matching Aggregate and Establishment-level Observations

w13111 Timothy J. Kehoe
Kim J. Ruhl

Are Shocks to the Terms of Trade Shocks to Productivity?

w13105 John Ameriks
Andrew Caplin
Steven Laufer
Stijn Van Nieuwerburgh

The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Bequest and Precautionary Motives

w13103 David Dollar
Shang-Jin Wei

Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China

w13096 Fatih Guvenen
Burhanettin Kuruscu

Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis

w13095 Fatih Guvenen
Burhanettin Kuruscu

A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000

w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q

w13085 Nicholas Bloom
Raffaella Sadun
John Van Reenen

Americans Do I.T. Better: US Multinationals and the Productivity Miracle

w13077 Ricardo J. Caballero
Guido Lorenzoni

Persistent Appreciations and Overshooting: A Normative Analysis

w13041 Christian Broda
David E. Weinstein

Product Creation and Destruction: Evidence and Price Implications

w13030 Bjoern Bruegemann
Giuseppe Moscarini

Rent Rigidity, Asymmetric Information, and Volatility Bounds in Labor Markets

w13024 Laura X. L. Liu
Toni Whited
Lu Zhang

Regularities

w13018 Diego Restuccia
Richard Rogerson

Policy Distortions and Aggregate Productivity with Heterogeneous Plants

w13017 Richard Rogerson
Johanna Wallenius

Micro and Macro Elasticities in a Life Cycle Model With Taxes

w13007 Lei Fang
Richard Rogerson

Policy Analysis in a Matching Model with Intensive and Extensive Margins

w12999 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth

t0336 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth

w12994 Orazio Attanasio
Nicola Pavoni

Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption

w12986 Joao F. Gomes
Leonid Kogan
Motohiro Yogo

Durability of Output and Expected Stock Returns

w12958 Alan L. Gustman
Thomas Steinmeier

Projecting Behavioral Responses to the Next Generation of Retirement Policies

w12957 Monika Piazzesi
Martin Schneider

Inflation Illusion, Credit, and Asset Pricing

w12948 Lars Peter Hansen
Beliefs, Doubts and Learning: Valuing Economic Risk

w12909 Enrique G. Mendoza
Vincenzo Quadrini
Jose-Victor Rios-Rull

Financial Integration, Financial Deepness and Global Imbalances

w12891 Lei Fang
Richard Rogerson

Product Market Regulation and Market Work: A Benchmark Analysis

w12890 Richard Rogerson
Taxation and Market Work: Is Scandinavia an Outlier?

w12889 Richard Rogerson
Structural Transformation and the Deterioration of European Labor Market Outcomes

w12853 Michael W. Elsby
Ryan Michaels
Gary Solon

The Ins and Outs of Cyclical Unemployment

w12845 Aubhik Khan
Julia Thomas

Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics


2006
w12791 Fernando Alvarez
Marcelo Veracierto

Fixed-Term Employment Contracts in an Equilibrium Search Model

w12786 Lee Ohanian
Andrea Raffo
Richard Rogerson

Long-Term Changes in Labor Supply and Taxes: Evidence from OECD Countries, 1956-2004

w12763 Robert J. Barro
On the Welfare Costs of Consumption Uncertainty

w12755 Chong-En Bai
Chang-Tai Hsieh
Yingyi Qian

The Return to Capital in China

w12746 Christopher D. Carroll
Misuzu Otsuka
Jirka Slacalek

How Large Is the Housing Wealth Effect? A New Approach

w12723 Charles Yuji Horioka
Junmin Wan

The Determinants of Household Saving in China: A Dynamic Panel Analysis of Provincial Data

w12634 Dirk Krueger
Hanno Lustig

When is Market Incompleteness Irrelevant for the Price of Aggregate Risk (and when is it not)?

w12611 Michael W. Elsby
Evaluating the Economic Significance of Downward Nominal Wage Rigidity

w12585 Annamaria Lusardi
Olivia S. Mitchell

Baby Boomer Retirement Security: the Roles of Planning, Financial Literacy, and Housing Wealth

w12575 Patrick J. Kehoe
How to Advance Theory with Structural VARs: Use the Sims-Cogley-Nason Approach

w12569 David Joulfaian
Inheritance and Saving

w12554 Mariacristina De Nardi
Eric French
John Bailey Jones

Differential Mortality, Uncertain Medical Expenses, and the Saving of Elderly Singles

w12550 Marco Cagetti
Mariacristina De Nardi

Wealth Inequality: Data and Models

w12546 James Feyrer
Bruce Sacerdote

Colonialism and Modern Income -- Islands as Natural Experiments

w12538 Stijn Van Nieuwerburgh
Pierre-Olivier Weill

Why Has House Price Dispersion Gone Up?

w12537 Nir Jaimovich
Sergio Rebelo

Can News About the Future Drive the Business Cycle?

w12514 Christopher House
Matthew D. Shapiro

Temporary Investment Tax Incentives: Theory with Evidence from Bonus Depreciation

w12498 Mark Gertler
Antonella Trigari

Unemployment Fluctuations With Staggered Nash Wage Bargaining

w12489 Craig Burnside
Martin Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

The Returns to Currency Speculation

w12487 Urban Jermann
The Equity Premium Implied by Production

w12486 Laarni Bulan
Christopher J. Mayer
C. Tsuriel Somerville

Irreversible Investment, Real Options, and Competition: Evidence from Real Estate Development

w12482 Jaume Ventura
Fernando A. Broner

Globalization and Risk Sharing

w12476 Patrick Kehoe
Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy

w12470 Tommaso Monacelli
Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints

w12467 Raj Chetty
Adam Szeidl

Consumption Commitments and Risk Preferences

w12456 Orazio Attanasio
Margherita Borella

Stochastic Components of Individual Consumption: A Time Series Analysis of Grouped Data

w12453 Dirk Krueger
Alexander Ludwig

On the Consequences of Demographic Change for Rates of Returns to Capital, and the Distribution of Wealth and Welfare

w12447 Gary V. Engelhardt
Anil Kumar

Employer Matching and 401(k) Saving: Evidence from the Health and Retirement Study

w12434 Rajnish Mehra
The Equity Premium in India

w12433 Rajnish Mehra
Recursive Competitive Equilibrium

w12421 Morten O. Ravn
The Consumption-Tightness Puzzle

w12419 Stefania Albanesi
Optimal Taxation of Entrepreneurial Capital with Private Information

w12415 Julio J. Rotemberg
Cyclical Wages in a Search-and-Bargaining Model with Large Firms

w12400 Alisdair McKay
Ricardo Reis

The Brevity and Violence of Contractions and Expansions

w12388 Kerwin Kofi Charles
Melvin Stephens
Jr.

The Level and Composition of Consumption Over the Business Cycle: The Role of %u201CQuasi-Fixed%u201D Expenditures

w12383 Nick Bloom
John Van Reenen
Stephen Bond

Uncertainty and Investment Dynamics

w12351 Charles Yuji Horioka
The Dissaving of the Aged Revisited: The Case of Japan

w12341 Gary D. Hansen
Selahattin Imrohoroglu

Consumption Over the Life Cycle: The Role of Annuities

w12336 Ruediger Bachmann
Ricardo J. Caballero
Eduardo M.R.A. Engel

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

w12330 Miki Kohara
Charles Yuji Horioka

Do Borrowing Constraints Matter? An Analysis of Why the Permanent Income Hypothesis Does Not Apply in Japan

w12293 Andrew B. Bernard
Stephen J. Redding
Peter K. Schott

Multi-Product Firms and Product Switching

w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption

w12275 Philippe Aghion
Diego Comin
Peter Howitt

When Does Domestic Saving Matter for Economic Growth?

w12265 Young Jun Chun
Population Aging, Fiscal Policies, and National Saving: Predictions for Korean Economy

w12264 Valerie A. Ramey
Neville Francis

A Century of Work and Leisure

w12142 Charles Yuji Horioka
The Causes of Japan's "Lost Decade": The Role of Household Consumption

w12140 Heinrich Hock
David N. Weil

The Dynamics of the Age Structure, Dependency, and Consumption

w12167 Steven J. Davis
R. Jason Faberman
John Haltiwanger

The Flow Approach to Labor Markets: New Data Sources and Micro-Macro Links

w12104 Chang-Tai Hsieh
Jonathan A. Parker

Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom

w12027 Philippe Aghion
Richard Blundell
Rachel Griffith
Peter Howitt
Susanne Prantl

The Effects of Entry on Incumbent Innovation and Productivity

w12014 Erica X. N. Li
Dmitry Livdan
Lu Zhang

Optimal Market Timing

w12009 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Importance of Default Options for Retirement Savings Outcomes: Evidence from the United States

w11979 James Choi
David Laibson
Brigitte Madrian

Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment(TM)

w11978 Joseph Engelberg
Charles F. Manski
Jared Williams

Comparing the Point Predictions and Subjective Probability Distributions of Professional Forecasters

w11954 Edward Miguel
Gerard Roland

The Long Run Impact of Bombing Vietnam

w11948 Carol A. Corrado
Charles R. Hulten
Daniel E. Sichel

Intangible Capital and Economic Growth

w11945 Jonathan Gruber
A Tax-Based Estimate of the Elasticity of Intertemporal Substitution


2005
w11888 Robert Shimer
Mismatch

w11870 Adam Copeland
George Hall

The Response of Prices, Sales, and Output to Temporary Changes in Demand

w11850 Axel Boersch-Supan
Alexander Ludwig
Joachim Winter

Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model

w11836 Chulhee Lee
Rising Family Income Inequality in the United States, 1968-2000: Impacts of Changing Labor Supply, Wages, and Family Structure

w11821 Paul R. Bergin
Giancarlo Corsetti

Towards a Theory of Firm Entry and Stabilization Policy

w11820 Ricardo Reis
Inattentive Producers

w11808 Leora Friedberg
Michael T. Owyang
Tara M. Sinclair

Searching for Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage

w11800 Dale W. Jorgenson
Koji Nomura

The Industry Origins of Japanese Economic Growth

w11778 Robert J. Gordon
The 1920s and the 1990s in Mutual Reflection

w11777 Robert J. Gordon
What Caused the Decline in U.S. Business Cycle Volatility?

w11776 Robert J. Gordon
Todd vanGoethem

A Century of Housing Shelter Prices: Is There a Downward Bias in the CPI?

w11767 Wojciech Kopczuk
Joseph Lupton

To Leave or Not To Leave: The Distribution of Bequest Motives

w11750 Olivier Blanchard
European Unemployment: The Evolution of Facts and Ideas

w11749 Fumio Hayashi
Koji Nomura

Can IT be Japan's Savior?

w11735 David K. Musto
Nicholas S. Souleles

A Portfolio View of Consumer Credit

w11731 Erik Hurst
Arthur Kennickell
Annamaria Lusardi
Francisco Torralba

Precautionary Savings and the Importance of Business Owners

w11694 Neville Francis
Valerie A. Ramey

Measures of Per Capita Hours and their Implications for the Technology-Hours Debate

w11692 Dale T. Mortensen
Eva Nagypal

More on Unemployment and Vacancy Fluctuations

w11684 Robert E. Hall
The Labor Market and Macro Volatility: A Nonstationary General-Equilibrium Analysis

w11678 Robert E. Hall
Job Loss, Job Finding, and Unemployment in the U.S. Economy Over the Past Fifty Years

w11668 Hans Fehr
Sabine Jokisch
Laurence J. Kotlikoff

Will China Eat Our Lunch or Take Us Out to Dinner? Simulating the Transition Paths of the U.S., EU, Japan, and China

w11658 Adriana Kugler
Giovanni Pica

Effects of Employment Protection on Worker and Job Flows: Evidence from the 1990 Italian Reform

w11656 Marcela Eslava
John Haltiwanger
Adriana Kugler
Maurice Kugler

Factor Adjustments After Deregulation: Panel Evidence from Colombian Plants

w11629 Jeremy Greenwood
Guillaume Vandenbroucke

Hours Worked: Long-Run Trends

w11601 Mark Aguiar
Erik Hurst

Lifecycle Prices and Production

w11596 Valerie A. Ramey
Daniel J. Vine

Declining Volatility in the U.S. Automobile Industry

w11593 Francesco Giavazzi
Tullio Jappelli
Marco Pagano
Marina Benedetti

Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence

w11588 Stephen H. Shore
Todd Sinai

Commitment, Risk, and Consumption: Do Birds of a Feather Have Bigger Nests?

w11560 Midori Wakabayashi
Charles Yuji Horioka

Borrowing Constraints and Consumption Behavior in Japan

w11555 Lucia Foster
John Haltiwanger
Chad Syverson

Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?

w11551 Francesco Caselli
James Feyrer

The Marginal Product of Capital

w11546 Rasmus Lentz
Dale T. Mortensen

An Empirical Model of Growth Through Product Innovation

w11519 César Alonso-Borrego
Jesús Fernández-Villaverde
José E. Galdón-Sánchez

Evaluating Labor Market Reforms: A General Equilibrium Approach

w11476 Lars Peter Hansen
John Heaton
Nan Li

Consumption Strikes Back?: Measuring Long-Run Risk

w11459 Evgeny Lyandres
Le Sun
Lu Zhang

Investment-Based Underperformance Following Seasoned Equity Offerings

t0309 Christopher D. Carroll
The Method of Endogenous Gridpoints for Solving Dynamic Stochastic Optimization Problems

w11349 Philippe Aghion
George-Marios Angeletos
Abhijit Banerjee
Kalina Manova

Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment

w11338 David G. Blanchflower
Andrew J. Oswald

The Wage Curve Reloaded

w11322 Lu Zhang
Anomalies

w11297 Ricardo Reis
The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuation

w11293 Ricardo Caballero
Stavros Panageas

A Quantitative Model of Sudden Stops and External Liquidity Management

w11261 Esteban Rossi-Hansberg
Mark L.J. Wright

Firm Size Dynamics in the Aggregate Economy

w11257 Adam Copeland
Wendy Dunn
George Hall

Prices, Production and Inventories over the Automotive Model Year

w11255 Tom Krebs
Pravin Krishna
William Maloney

Trade Policy, Income Risk, and Welfare

w11247 Luca Benzoni
Pierre Collin-Dufresne
Robert S. Goldstein

Portfolio Choice over the Life-Cycle in the Presence of 'Trickle Down' Labor Income

w11245 Robert E. Hall
Paul R. Milgrom

The Limited Influence of Unemployment on the Wage Bargain

w11186 Robert E. Hall
The Amplification of Unemployment Fluctuations through Self-Selection

w11183 Robert E. Hall
Employment Efficiency and Sticky Wages: Evidence from Flows in the Labor Market

w11163 John Laitner
Dan Silverman

Estimating Life-Cycle Parameters from Consumption Behavior at Retirement

w11122 George M. Constantinides
John B. Donaldson
Rajnish Mehra

Junior is Rich: Bequests as Consumption

w11107 John R. Baldwin
Tarek Harchaoui

The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead

w11106 Karen Wilson
The Architecture of the System of National Accounts: A Three Country Comparison, Canada, Australia, and United Kingdom

w11079 Rob Alessie
Agar Brugiavini
Guglielmo Weber

Saving and Cohabitation: The Economic Consequences of Living with One's Parents in Italy and the Netherlands

w11074 Gabriel D. Carroll
James J. Choi
David Laibson
Brigitte Madrian
Andrew Metrick

Optimal Defaults and Active Decisions

w11050 Claudio Michelacci
Vincenzo Quadrini

Financial Markets and Wages


2004
w11016 George-Marios Angeletos
Laurent-Emmanuel Calvet

Incomplete Market Dynamics in a Neoclassical Production Economy

w10970 Raj Chetty
Adam Szeidl

Consumption Commitments: Neoclassical Foundations for Habit Formation

w10909 Nobuhiro Kiyotaki
Kenneth D. West

Land Prices and Business Fixed Investments in Japan

w10905 Alan L. Gustman
Thomas L. Steinmeier

The social Security Retirement Earnings Test, Retirement and Benefit Claiming

w10888 Arthur Kennickell
Annamaria Lusardi

Disentangling the Importance of the Precautionary Saving Mode

w10883 Ricardo Reis
Inattentive Consumers

w10876 Alan L. Gustman
Thomas L. Steinmeier

Minimum Hours Constraints, Job Requirements and Retirement

w10867 Christopher Carroll
Theoretical Foundations of Buffer Stock Saving

w10860 Kevin Milligan
Life-Cycle Asset Accumulation and Allocation in Canada

w10828 Francesco Caselli
Accounting for Cross-Country Income Differences

w10786 Ricardo J. Caballero
Stavros Panageas

Contingent Reserves Management: An Applied Framework

w10784 David S. Johnson
Jonathan A. Parker
Nicholas S. Souleles

Household Expenditure and the Income Tax Rebates of 2001

w10744 Ricardo J. Caballero
Kevin N. Cowan
Eduardo M.R.A. Engel
Alejandro Micco

Effective Labor Regulation and Microeconomic Flexibility

w10735 Jorn-Steffen Pischke
Labor Market Institutions, Wages, and Investment

w10732 Simon Gilchrist
John C. Williams

Transition Dynamics in Vintage Capital Models: Explaining the Postwar Catch-Up of Germany and Japan

w10703 Valerie A. Ramey
Daniel J. Vine

Why Do Real and Nominal Inventory-Sales Ratios Have Different Trends

w10655 Richard Rogerson
Robert Shimer
Randall Wright

Search-Theoretic Models of the Labor Market-A Survey

w10652 Aubhik Khan
Julia K. Thomas

Modeling Inventories Over the Business Cycle

w10631 Neville Francis
Valerie A. Ramey

The Source of Historical Economic Fluctuations: An Analysis using Long-Run Restrictions

w10611 Jacob L. Vigdor
Liquidity Constraints and Housing Prices: Theory and Evidence from the VA Mortgage

w10592 Susanto Basu
John Fernald
Miles Kimball

Are Technology Improvements Contractionary?

w10590 Olivier Blanchard
Thomas Philippon

The Quality of Labor Relations and Unemployment

w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment

w10537 Simon Gilchrist
Charles P. Himmelberg
Gur Huberman

Do Stock Price Bubbles Influence Corporate Investment?

w10523 Sangeeta Pratap
Carlos Urrutia

Firm Dynamics, Investment, and Debt Portfolio: Balance Sheet Effects of the Mexican Crisis of 1994

w10505 Hanno Lustig
Stijn Van Nieuwerburgh

How Much Does Household Collateral Constrain Regional Risk Sharing?

w10487 Erik Hurst
James P. Ziliak

Do Welfare Asset Limits Affect Household Saving? Evidence from Welfare Reform

w10485 Steven N. Durlauf
Marcel Fafchamps

Social Capital

w10458 Marjorie Flavin
Shinobu Nakagawa

A Model of Housing in the Presence of Adjustment Costs: A Structural Interpretation of Habit Persistence

w10454 James J. Choi
David Laibson
Brigitte C. Madrian
Andrew Metrick

Consumption-Wealth Comovement of the Wrong Sign

w10446 Simon Gilchrist
John C. Williams

Investment, Capacity, and Uncertainty: A Putty-Clay Approach

w10398 Ricardo J. Caballlero
Eduardo Engel
Alejandro Micco

Microeconomic Flexibility in Latin America

w10384 Valerie A. Ramey
Daniel J. Vine

Tracking the Source of the Decline in GDP Volatility: An Analysis of the Automobile Industry

w10368 Ricardo J. Caballero
Eduardo M.R.A. Engel

Three Strikes and You're Out: Reply to Cooper and Willis

w10338 Orazio Attanasio
Erich Battistin
Hidehiko Ichimura

What Really Happened to Consumption Inequality in the US?

w10326 Robert Shimer
The Consequences of Rigid Wages in Search Models

w10307 Mark Aguiar
Erik Hurst

Consumption vs. Expenditure

w10297 Russel W. Cooper
John C. Haltiwanger
Jonathan Willis

Dynamics of Labor Demand: Evidence from Plant-level Observations and Aggregate Implications

w10293 Aaron Tornell
Frank Westermann
Lorenza Martinez

The Positive Link Between Financial Liberalization, Growth and Crises

w10289 Aaron Tornell
Frank Westermann
Lorenza Martinez

NAFTA and Mexico's Less-Than-Stellar Performance

w10282 Erik Hurst
Paul Willen

Social Security and Unsecured Debt

w10262 Casey B. Mulligan
What do Aggregate Consumption Euler Equations Say about the Capital Income Tax Burden?

w10260 John Karl Scholz
Ananth Seshadri
Surachai Khitatrakun

Are Americans Saving "Optimally" for Retirement?

w10254 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology

w10228 James J. Choi
David Laibson
Brigitte Madrian
Andrew Metrick

Employees' Investment Decisions about Company Stock

w10216 John Ameriks
Andrew Caplin
John Leahy

The Absent-Minded Consumer

w10211 Raj Chetty
Consumption Commitments, Unemployment Durations, and Local Risk Aversion

w10210 Casey B. Mulligan
Robust Aggregate Implications of Stochastic Discount Factor Volatility

w10201 Jeffrey R. Campbell
Zvi Hercowitz

The Dynamics of Work and Debt


2003
w10150 Robert E. Hall
Corporate Earnings Track the Competitive Benchmark

w10135 Dirk Krueger
Harald Uhlig

Competitive Risk Sharing Contracts with One-Sided Commitment

w10099 Andrew B. Abel
Optimal Taxation When Consumers Have Endogenous Benchmark Levels of Consumption

w10098 Erik Hurst
Grasshoppers, Ants, and Pre-Retirement Wealth: A Test of Permanent Income

w10078 Aubhik Khan
Julia Thomas

Inventories and the Business Cycle: An Equilibrium Analysis of (S,s) Policies

w10010 Susanto Basu
John G. Fernald
Nicholas Oulton
Sylaja Srinivasan

The Case of the Missing Productivity Growth: Or, Does Information Technology Explain why Productivity Accelerated in the US but not the UK?

w10006 Russell W. Cooper
Jonathan Willis

The Cost of Labor Adjustment: Inferences from the Gap

w9985 Ignazio Angeloni
Anil K. Kashyap
Benoit Mojon
Daniele Terlizzese

The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and U.S.

w9984 Ignazio Angeloni
Anil K. Kashyap
Benoit Mojon
Daniele Terlizzese

Monetary Transmission in the Euro Area: Does the Interest Rate Channel Explain it All?

w9967 Robert E. Hall
Wage Determination and Employment Fluctuations

w9946 Robert G. King
Julia K. Thomas

Partial Adjustment without Apology

w9928 Francesco Caselli
Daniel Wilson

Importing Technology

w9924 Jason G. Cummins
A New Approach to the Valuation of Intangible Capital

w9916 Casey B. Mulligan
Capital Tax Incidence: Fisherian Impressions from the Time Series

w9850 Claudio Montenegro
Carmen Pages

Who Benefits from Labor Market Regulations? Chile 1960-1998

w9848 Martin Lettau
Sydney Ludvigson

Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption

w9832 Robert Barsky
Christopher L. House
Miles Kimball

Do Flexible Durable Goods Prices Undermine Sticky Price Models?

w9778 Ricardo J. Caballero
Stavros Panageas

Hedging Sudden Stops and Precautionary Contractions

t0290 Kent Smetters
The (Interesting) Dynamic Properties of the Neoclassical Growth Model with CES Production

w9525 Rajnish Mehra
Edward C. Prescott

The Equity Premium in Retrospect

w9462 Todd Sinai
Nicholas S. Souleles

Owner-Occupied Housing as a Hedge Against Rent Risk

w9444 Albert Ando
Dimitrios Christelis
Tsutomu Miyagawa

Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan

w9442 Francesco Caselli
Nicola Gennaioli

Dynastic Management

w9425 David H. Autor
John J. Donohue III
Stewart J. Schwab

The Costs of Wrongful-Discharge Laws


2002
w9374 Casey B. Mulligan
Capital Tax Incidence: First Impressions from the Time Series

w9373 Casey B. Mulligan
Capital, Interest, and Aggregate Intertemporal Substitution

w9356 Melvin Stephens Jr.
Paycheck Receipt and the Timing of Consumption

w9308 Matthew D. Shapiro
Joel Slemrod

Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys

w9210 Andrew B. Abel
The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

w9202 Dirk Krueger
Fabrizio Perri

Does Income Inequality Lead to Consumption Inequality? Evidence and Theory

w9196 Jonathan Parker
Bruce Preston

Precautionary Saving and Consumption Fluctuations

w9142 Michael Hurd
James P. Smith

Expected Bequests and Their Distribution

w9135 Melvin Stephens Jr.
'3rd of tha Month': Do Social Security Recipients Smooth Consumption Between Checks?

w9077 Patrick J. Kehoe
Fabrizio Perri

Competitive Equilibria With Limited Enforcement

w9034 Urban Jermann
Vincenzo Quadrini

Stock Market Boom and the Productivity Gains of the 1990s

w8940 Laurence Ball
N. Gregory Mankiw

The NAIRU in Theory and Practice

w8920 John Ameriks
Andrew Caplin
John Leahy

Wealth Accumulation and the Propensity to Plan

w8908 Anusha Chari
Peter Blair Henry

Capital Account Liberalization: Allocative Efficiency or Animal Spirits?

w8906 George M. Constantinides
John B. Donaldson
Rajnish Mehra

Junior Must Pay: Pricing the Implicit Put in Privatizing Social Security

w8896 Annette Vissing-Jorgensen
Limited Asset Market Participation and the Elasticity of Intertemporal Substitution

w8826 George M. Constantinides
Rational Asset Prices

w8808 David E. Bloom
David Canning
Bryan Graham

Longevity and Life Cycle Savings

w8750 Malcolm Baker
Jeremy C. Stein
Jeffrey Wurgler

When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

w8742 Sebnem Kalemli-Ozcan
David N. Weil

Mortality Change, the Uncertainty Effect, and Retirement

w8735 John Ameriks
Andrew Caplin
John Leahy

Retirement Consumption: Insights from a Survey

w8722 Andrew Atkeson
Patrick J. Kehoe

Measuring Organization Capital


2001
w8672 Matthew D. Shapiro
Joel Slemrod

Consumer Response to Tax Rebates

w8649 Andrew B. Abel
On the Invariance of the Rate of Return to Convex Adjustment Costs

w8635 Andrew B. Abel
On the Invariance of the Rate of Return to Convex Adjustment Costs

w8606 Karl E. Case
Robert J. Shiller
John M. Quigley

Comparing Wealth Effects: The Stock Market Versus the Housing Market

w8545 Michael D. Bordo
Harold James

The Adam Klug Memorial Lecture: Haberler versus Nurkse: The Case for Floating Exchange Rates as an Alternative to Bretton Woods?

w8527 Russell W. Cooper
Jonathan L. Willis

The Economics of Labor Adjustment: Mind the Gap

w8525 Thomas N. Hubbard
Information, Decisions, and Productivity: On-Board Computers and Capacity Utilization in Trucking

w8501 Robert Shimer
The Assignment of Workers to Jobs In an Economy with Coordination Frictions

w8466 Robert Barsky
John Bound
Kerwin Charles
Joseph Lupton

Accounting for the Black-White Wealth Gap: A Nonparametric Approach

w8463 Wouter Den Haan
Christian Haefke
Garey Ramey

Shocks and Institutions in a Job Matching Model

w8417 Yacine Ait-Sahalia
Jonathan A. Parker
Motohiro Yogo

Luxury Goods and the Equity Premium

w8412 James R. Hines Jr.
Hilary W. Hoynes
Alan B. Krueger

Another Look at Whether a Rising Tide Lifts All Boats

w8410 Nicholas S. Souleles
Consumer Sentiment: Its Rationality and Usefulness in Forecasting Expenditure - Evidence from the Michigan Micro Data

w8409 David B. Gross
Nicholas S. Souleles

An Empirical Analysis of Personal Bankruptcy and Delinquency

w8359 Susanto Basu
John G. Fernald
Matthew D. Shapiro

Productivity Growth in the 1990s: Technology, Utilization, or Adjustment?

w8314 David B. Gross
Nicholas S. Souleles

Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data

w8287 Daron Acemoglu
Directed Technical Change

w8257 Michael Kremer
Benjamin A. Olken

A Biological Model of Unions

w8243 Martin N. Baily
Robert Lawrence

Do We Have A New E-Conomy?

w8237 Annamaria Lusardi
Jonathan Skinner
Steven Venti

Saving Puzzles and Saving Policies in the United States

w8182 Russell Cooper
Joao Ejarque

Exhuming Q: Market Power vs. Capital Market Imperfections

w8120 Olivier Blanchard
Francesco Giavazzi

Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets

w8107 Pierre-Olivier Gourinchas
Jonathan A. Parker

The Empirical Importance of Precautionary Saving


2000
w8038 Benoit Mulkay
Bronwyn H. Hall
Jacques Mairesse

Firm Level Investment and R&D in France and the United States: A Comparison

w8030 Christopher L. House
John V. Leahy

An sS Model with Adverse Selection

w8022 Rodolfo E. Manuelli
Technological Change, the Labor Market and the Stock Market

w7995 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

Consumption and Risk Sharing Over the Life Cycle

w7991 James M. Poterba
John B. Shoven
Clemens Sialm

Asset Location for Retirement Savers

w7938 Daron Acemoglu
Credit Market Imperfections and Persistent Unemployment

w7906 Karen E. Dynan
Jonathan Skinner
Stephen P. Zeldes

Do the Rich Save More?

w7894 William M. Gentry
R. Glenn Hubbard

Entrepreneurship and Household Saving

w7879 David Laibson
Andrea Repetto
Jeremy Tobacman

A Debt Puzzle

w7727 Nathaniel O. Keohane
Benjamin Van Roy
Richard J. Zeckhauser

Controlling Stocks and Flows to Promote Quality: The Environment, With Applications to Physical and Human Capital

w7682 Brigitte C. Madrian
Dennis F. Shea

The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior

t0253 Orazio P. Attanasio
Hamish Low

Estimating Euler Equations

w7672 John V. Leahy
Joseph Zeira

The Timing of Purchases and Aggregate Fluctuations

w7661 Robert J. Hodrick
Xiaoyan Zhang

Evaluating the Specification Errors of Asset Pricing Models

w7594 Marianne Bertrand
Douglas Miller
Sendhil Mullainathan

Public Policy and Extended Families: Evidence from South Africa

w7591 Alan B. Krueger
Mikael Lindahl

Education for Growth: Why and For Whom?

w7474 Richard B. Freeman
Ronald Schettkat

The Role of Wage and Skill Differences in US-German Employment Differences

w7460 Francesco Giavazzi
Tullio Jappelli
Marco Pagano

Searching for Non-Linear Effects of Fiscal Policy: Evidence from Industrial and Developing Countries


1999
w7437 Jacques Mairesse
Bronwyn H. Hall
Benoit Mulkay

Firm-Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years

w7368 Alan L. Gustman
Thomas L. Steinmeier

What People Don't Know About Their Pensions and Social Security: An Analysis Using Linked Data from the Health and Retirement Study

w7355 Ricardo J. Caballero
Mohamad L. Hammour

The Cost of Recessions Revisited: A Reverse-Liquidationist View

w7352 Daron Acemoglu
Robert Shimer

Productivity Gains from Unemployment Insurance

w7351 Taizo Motonishi
Hirshi Yoshikawa

Causes of the Long Stagnation of Japan During the 1990s: Financial or Real?

w7320 Alan L. Gustman
Thomas L. Steinmeier

Pensions and Retiree Health Benefits in Household Wealth: Changes from 1969 to 1992

w7306 Robert Shimer
The Impact of Young Workers on the Aggregate Labor Market

w7282 Olivier Blanchard
Justin Wolfers

The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence

w7252 Katsunori Watanabe
Takayuki Watanabe
Tsutomu Watanabe

Tax Policy and Consumer Spending: Evidence from Japanese Fiscal Experiments

w7238 Jonathan A. Parker
Spendthrift in America? On Two Decades of Decline in the U.S. Saving Rate

w7236 Joseph G. Altonji
Paul J. Devereux

The Extent and Consequences of Downward Nominal Wage Rigidity

w6564 Robert E. Hall
Charles I. Jones

Why Do Some Countries Produce So Much More Output per Worker than Others?

w7145 William J. Collins
Jeffrey G. Williamson

Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950

w7048 Michael D. Hurd
Mortality Risk and Consumption by Couples

w7027 Lawrence J. Christiano
Robert J. Vigfusson

Maximum Likelihood in the Frequency Domain: A Time to Build Example

w7025 Robert E. Hall
The Concentration of Job Destruction

w5336 Susanto Basu
Procyclical Productivity: Increasing Returns or Cyclical Utilization?

w6987 Andrew Caplin
John Leahy

Durable Goods Cycles

w6973 Owen Lamont
Investment Plans and Stock Returns

w6972 Wouter J. den Haan
Garey Ramey
Joel Watson

Contract-Theoretic Approaches to Wages and Displacement

h0116 William J. Collins
Jeffrey G. Williamson

Capital Goods Prices, Global Capital Markets and Accumulation, 1870-1950

w6912 Robert E. Hall
Aggregate Job Destruction and Inventory Liquidation


1998
w6812 Simon Gilchrist
John C. Williams

Putty-Clay and Investment: A Business Cycle Analysis

w6809 Jeffrey R. Campbell
Jonas D.M. Fisher

Organizational Flexibility and Employment Dynamics at Young and Old Plants

w6775 Valerie A. Ramey
Matthew D. Shapiro

Displaced Capital

w6754 John B. Taylor
Staggered Price and Wage Setting in Macroeconomics

w6717 Ricardo J. Caballero
Mohamad L. Hammour

Improper Churn: Social Costs and Macroeconomic Consequences

w6658 Daron Acemoglu
Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence

w6652 Simon Gilchrist
Charles Himmelberg

Investment, Fundamentals and Finance

w6640 Andrew A. Samwick
Tax Reform and Target Savings

w6611 Fernando Restoy
Philippe Weil

Approximate Equilibrium Asset Prices

w6585 Casey B. Mulligan
Substitution over Time: Another Look at Life Cycle Labor Supply

w6567 Orazio Attanasio
James Banks
Sarah Tanner

Asset Holding and Consumption Volatility

w6566 Olivier Blanchard
Revisiting European Unemployment: Unemployment, Capital Accumulation, and Factor Prices

w6560 Orazio P. Attanasio
Tullio Jappelli

Intertemporal Choice and the Cross-Sectional Variance of Marginal Utility

w6501 Robert E. Hall
Labor-Market Frictions and Employment Fluctuations

w6466 Orazio P. Attanasio
Consumption Demand

w6445 Julio J. Rotemberg
Cyclical Movements in Wages and Consumption in a Bargaining Model of Unemployment

w6420 Ricardo J. Caballero
Eduardo M.R.A. Engel

Nonlinear Aggregate Investment Dynamics: Theory and Evidence

w6404 Milka S. Kirova
Robert S. Lipsey

Measuring Real Investment: Trends in the United States and International Comparisons

w5081 Robert J. Gordon
Is There a Tradeoff between Unemployment and Productivity Growth?

w4412 Andrew B. Abel
Janice C. Eberly

An Exact Soultion for the Investment and Market Value of a Firm Facing Uncertainty, Adjustment Costs, and Irreversibility

w6389 Marjorie Flavin
Takashi Yamashita

Owner-Occupied Housing and the Composition of the Household Portfolio Over the Life-Cycle

w6373 Avinash K. Dixit
Robert S. Pindyck

Expandability, Reversibility, and Optimal Capacity Choice

w6372 Adriana Arreaza
Bent E. Sorensen
Oved Yosha

Consumption Smoothing through Fiscal Policy in OECD and EU Countries


1997
w6342 Austan Goolsbee
David B. Gross

Estimating Adjustment Costs with Data on Heterogeneous Capital Goods

w6317 Robert J. Barro
Myopia and Inconsistency in the Neoclassical Growth Model

w6315 Valerie A. Ramey
Kenneth D. West

Inventories

w6275 Wouter J. den Haan
Garey Ramey
Joel Watson

Job Destruction and Propagation of Shocks

w6267 Dan Ben-David
Convergence Clubs and Subsistence Economies

w6264 Ricardo J. Caballero
Aggregate Investment

w6227 B. Douglas Bernheim
Jonathan Skinner
Steven Weinberg

What Accounts for the Variation in Retirement Wealth Among U.S. Households?

w6221 Ricardo J. Caballero
Mohamad L. Hammour

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

w6219 Andrew A. Samwick
Discount Rate Heterogeneity and Social Security Reform

w6188 Michael Woodford
Doing Without Money: Controlling Inflation in a Post-Monetary World

w6185 James M. Poterba
Andrew A. Samwick

Household Portfolio Allocation Over the Life Cycle

w6172 Fumio Hayashi
The Main Bank System and Corporate Investment: An Empirical Reassessment

w6149 Martin Feldstein
Transition to a Fully Funded Pension System: Five Economic Issues

w6148 Andrew B. Abel
Janice C. Eberly

The Mix and Scale of Factors with Irreversibility and Fixed Costs of Investment

w6138 Christopher D. Carroll
Jody Overland
David N. Weil

Comparison Utility in a Growth Model

w6133 Donald R. Davis
Trevor A. Reeve

Human Capital, Unemployment, and Relative Wages in a Global Economy

w6085 B. Douglas Bernheim
Daniel M. Garrett
Dean M. Maki

Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates

w6074 Gilbert E. Metcalf
Kevin A. Hassett

Measuring the Energy Savings from Home Improvement Investments: Evidence from Monthly Billing Data

w6055 Martin Feldstein
Andrew Samwick

The Economics of Prefunding Social Security and Medicare Benefits

w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment

w5951 Patrick K. Asea
S. Brock Blomberg

Lending Cycles

w5922 Joao Gomes
Jeremy Greenwood
Sergio Rebelo

Equilibrium Unemployment

w5686 R. Glenn Hubbard
Jonathan S. Skinner

Assessing the Effectiveness of Saving Incentives

w5357 Herschel I. Grossman
Minseong Kim

Predation and Accumulation


1996
w5861 Simon Burgess
Michael M. Knetter

An International Comparison of Employment Adjustment to Exchange Rate Fluctuations

w5232 Jason G. Cummins
Kevin A. Hassett
R. Glenn Hubbard

Tax Reforms and Investment: A Cross-Country Comparison

w5841 Joshua Aizenman
Nancy P. Marion

Volatility and the Investment Response

w5822 Olivier Blanchard
Lawrence F. Katz

What We Know and Do Not Know About the Natural Rate of Unemployment

w5812 Robert E. Hall
Charles I. Jones

The Productivity of Nations

w5310 Stephen G. Cecchetti
Anil K Kashyap

International Cycles

w5799 Malcolm Edey
John Simon

Australia's Retirement Income System: Implications for Saving and Capital Markets

w5792 Wouter J. Den Haan
Understanding Equilibrium Models with a Small and a Large Number of Agents

w5788 Christopher D. Carroll
Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis

w5759 Eric M. Engen
William G. Gale
John Karl Scholz

The Effects of Tax-Based Saving Incentives On Saving and Wealth

w4160 Ricardo J. Caballero
Robert S. Pindyck

Uncertainty, Investment, and Industry Evolution

w5721 Jordi Gali
Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations

w5691 Russell Cooper
Alok Johri

Dynamic Complementarities: A Quantitative Analysis

w5656 Timothy Dunne
John Haltiwanger
Kenneth R. Troske

Technology and Jobs: Secular Changes and Cyclical Dynamics

w5635 David I. Laibson
Hyperbolic Discount Functions, Undersaving, and Savings Policy

w5629 Donald R. Haurin
Patric H. Hendershott
Susan M. Wachter

Expected Home Ownership and Real Wealth Accumulation of Youth

w5571 Jagadeesh Gokhale
Laurence J. Kotlikoff
John Sabelhaus

Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis

w5508 Ricardo J. Caballero
John V. Leahy

Fixed Costs: The Demise of Marginal q

w4391 James M. Poterba
Steven F. Venti
David A. Wise

Do 401(k) Contributions Crowd Out Other Persoanl Saving?


1995
w5363 Andrew B. Abel
Janice C. Eberly

The Effects of Irreversibility and Uncertainty on Capital Accumulation

w5301 Christina Paxson
Saving and Growth: Evidence from Micro Data

w5282 Orazio P. Attanasio
Consumer Durables and Inertial Behavior: Estimation and Aggregation of (S,s) Rules

w5276 Alan M. Taylor
Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration

w5261 Albert Ando
Andrea Moro

Demographic Dynamics, Labor Force Participation and Household Asset Accumulation: Case of Japan

w4392 R. Glenn Hubbard
Anil K Kashyap
Toni M. Whited

Internal Finance and Firm Investment

w5194 Christopher D. Carroll
Andrew A. Samwick

How Important is Precautionary Saving?

w5193 Christopher D. Carroll
Andrew A. Samwick

The Nature of Precautionary Wealth

w5183 Gary V. Engelhardt
House Prices and Home Owner Saving Behavior

w5162 Randall W. Eberts
Edward Montgomery

Cyclical versus Secular Movements in Employment Creation and Destruction

w5126 Orazio P. Attanasio
Hilary W. Hoynes

Differential Mortality and Wealth Accumulation

w5097 Sebastian Edwards
Why are Saving Rates so Different Across Countries?: An International Comparative Analysis

w5089 Alan J. Auerbach
Jagadeesh Gokhale
Laurence J. Kotlikoff
John Sabelhaus
David N. Weil

The Annuitization of Americans' Resources: A Cohort Analysis

w4344 Matthew D. Shapiro
Joel Slemrod

Consumer Response to the Timing of Income: Evidence from a Change in Tax Withholding

t0175 Gilbert E. Metcalf
Kevin A. Hassett

Investment Under Alternative Return Assumptions: Comparing Random Walks and Mean Reversion

w5042 Ricardo J. Caballero
Eduardo M.R.A. Engel
John Haltiwanger

Aggregate Employment Dynamics: Building From Microeconomic Evidence

w4986 John V. Leahy
Toni M. Whited

The Effect of Uncertainty on Investment: Some Stylized Facts

w4296 Andrew B. Abel
Janice C. Eberly

A Unified Model of Investment Under Uncertainty

t0120 Maurice Obstfeld
Evaluating Risky Consumption Paths: The Role of Intertemporal Substitutability


1994
w4516 R. Glenn Hubbard
Jonathan Skinner
Stephen P. Zeldes

The Importance of Precautionary Motives in Explaining Individual and Aggregate Saving

w4889 Mark Hooker
Michael Knetter

Unemployment Effects of Military Spending: Evidence from a Panel of States

w4887 Ricardo J. Caballero
Eduardo M.R.A. Engel

Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach

w4859 Francis X. Diebold
David Neumark
Daniel Polsky

Job Stability in the United States

w4817 Susanto Basu
Intermediate Goods and Business Cycles: Implications for Productivity and Welfare

w4741 Martin Neil Baily
Eric J. Bartelsman
John Haltiwanger

Downsizing and Productivity Growth: Myth or Reality?

w4726 John Baldwin
Timothy Dunne
John Haltiwanger

A Comparison of Job Creation and Job Destruction in Canada and the United States

w4666 Hilary Williamson Hoynes
Daniel McFadden

The Impact of Demographics on Housing and Non-Housing Wealth in the United States


1993
w4569 Albert Ando
Luigi Guiso
Daniele Terlizzese

Dissaving by the Elderly, Transfer Motives and Liquidity Constraints

w4487 Steven N. Durlauf
Louis J. Maccini

Measuring Noise in Inventory Models

w4472 Giuseppe Bertola
Ricardo J. Caballero

Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment

w4470 Christopher D. Carroll
David N. Weil

Saving and Growth: A Reinterpretation

w4454 Orazio P. Attanasio
A Cohort Analysis of Saving Behavior by U.S. Households

w4161 Frank R. Lichtenberg
R&D Investment and International Productivity Differences

t0143 Kenneth D. West
Inventory Models

w4414 Edward B. Montgomery
Pattern in Regional Labor Market Adjustment: The United States vs. Japan

w4405 Alan J. Auerbach
Kevin A. Hassett
Stephen D. Oliner

Reassessing the Social Returns to Equipment Investment

t0139 Kenneth D. West
David W. Wilcox

Some Evidence on Finite Sample Behavior of an Instrumental Variables Estimator of the Linear Quadtratic Inventory Model

w4380 Robert S. Pindyck
Andres Solimano

Economic Instability and Aggregate Investment

w4229 Daniel Feenberg
James Poterba

Income Inequality and the Incomes of Very High Income Taxpayers: Evidence from Tax Returns


1992
w4182 Alan J. Auerbach
Laurence J. Kotlikoff
David N. Weil

The Increasing Annuitization of the Elderly- Estimates and Implications for Intergenerational Tranfers, Inequality, and National Saving

w4130 Mark Bils
Kenneth J. McLaughlin

Inter-Industry Mobility and the Cyclical Upgrading of Labor

w4128 Patric Hendershott
Edward J. Kane

Office Market Values During the Past Decade: How Distorted Have Appraisals Been?

w4105 Timothy F. Bresnahan
Valerie A. Ramey

Output Fluctuations at the Plant Level

w4090 Ricardo J. Caballero
Eduardo M.R.A. Engel

Microeconomic Adjustment Hazards and Aggregate Dynamics

w4035 Ricardo J. Caballero
Near-Rationality, Heterogeneity and Aggregate Consumption

w4031 Bruce Russett
Joel Slemrod

Diminished Expectations of Nuclear War and Increased Personal Savings: Evidence From Individual Survey Data

w4000 Olivier Jean Blanchard
Peter Diamond

The Flow Approach to Labor Markets

w3989 John Y. Campbell
Intertemporal Asset Pricing Without Consumption Data

w3976 Miles Kimball
Philippe Weil

Precautionary Saving and Consumption Smoothing Across Time and Possibilities


1991
w3938 Jonathan Skinner
Individual Retirement Accounts: A Review of the Evidence

w3937 Mark Schankerman
Revisions and Investment Plans and the Stock Market Rate of Return

w3922 Ricardo J. Caballero
Mohamad L. Hammour

The Cleansing Effect of Recessions

h0032 Alan M. Taylor
Jeffrey G. Williamson

Capital Flows to the New World as an Intergenerational Transfer

w3907 Eun Young Chah
Valerie A. Ramey
Ross M. Starr

Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods

w3865 Giuseppe Bertola
Ricardo J. Caballero

Irreversibility and Aggregate Investment

w3854 Steven G. Allen
Changes in the Cyclical Sensitivity of Wages in the United States, 1891-1987

w3844 Giuseppe Bertola
Allan Drazen

Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity

w3802 Marjorie A. Flavin
The Joint Consumption/Asset Demand Decision: A Case Study in Robust Estimation

w3763 Kenneth D. West
Sources of Cycles in Japan, 1975-1987

w3762 Kenneth D. West
A Comparison of the Behavior of Japanese and U.S. Inventories

w3755 Garey Ramey
Valerie A. Ramey

Technology Commitment and the Cost of Economic Fluctuations

w3753 David Altig
Steve J. Davis

The Timing of Intergenerational Transfers, Tax Policy, and Aggregate Savings

w3752 Stephen G. Cecchetti
Pok-sang Lam
Nelson C. Clark

The Equity Premium and the Risk Free Rate: Matching the Moments

w3748 Ricardo J. Caballero
Durable Goods: An Explanation for Their Slow Adjustment

w3735 Ricardo J. Caballero
A Fallacy of Composition

w3734 Ricardo J. Caballero
Eduardo M.R.A. Engel

Dynamic (S,s) Economies

w3710 David Card
Do Minimum Wages Reduce Employment? A Case Study of California, 1987-89


Generated Wed Nov 25 04:33:00 2009

 
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