NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Papers in JEL Code E6: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

2016
w22878 Daniel Green
Brian T. Melzer
Jonathan A. Parker
Arcenis Rojas

Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand
w22856 Jing Cynthia Wu
Ji Zhang

A Shadow Rate New Keynesian Model
w22866 Martín Uribe
Is The Monetarist Arithmetic Unpleasant?
w22847 Mark Aguiar
Manuel Amador
Hugo Hopenhayn
Iván Werning

Take the Short Route: Equilibrium Default and Debt Maturity
w22794 George-Marios Angeletos
Fabrice Collard
Harris Dellas

Public Debt as Private Liquidity: Optimal Policy
w22800 Eric M. Leeper
Should Central Banks Care About Fiscal Rules?
w22800 Eric M. Leeper
Should Central Banks Care About Fiscal Rules?
w22784 Gauti B. Eggertsson
Sanjay R. Singh

Log-linear Approximation versus an Exact Solution at the ZLB in the New Keynesian Model
w22789 Edward Glaeser
Wei Huang
Yueran Ma
Andrei Shleifer

A Real Estate Boom with Chinese Characteristics
w22763 Samuel G. Hanson
David S. Scharfstein
Adi Sunderam

Fiscal Risk and the Portfolio of Government Programs
w22740 Steven J. Davis
An Index of Global Economic Policy Uncertainty
w22705 Marina Azzimonti
The Politics of FDI Expropriation
w22662 Eric M. Leeper
Bing Li

Surplus-Debt Regressions
w22662 Eric M. Leeper
Bing Li

Surplus-Debt Regressions
w22646 Dominik Sachs
Aleh Tsyvinski
Nicolas Werquin

Nonlinear Tax Incidence and Optimal Taxation in General Equilibrium
w22638 Marco Di Maggio
Amir Kermani
Christopher Palmer

How Quantitative Easing Works: Evidence on the Refinancing Channel
w22625 Marco Di Maggio
Amir Kermani

The Importance of Unemployment Insurance as an Automatic Stabilizer
w22594 Julien Bengui
Javier Bianchi
Louphou Coulibaly

Financial Safety Nets
w22557 Gregori Galofré-Vilà
Martin McKee
Christopher M. Meissner
David Stuckler

The Economic Consequences of the 1953 London Debt Agreement
w22557 Gregori Galofré-Vilà
Martin McKee
Christopher M. Meissner
David Stuckler

The Economic Consequences of the 1953 London Debt Agreement
w22563 Francesco D’Acunto
Daniel Hoang
Michael Weber

The Effect of Unconventional Fiscal Policy on Consumption Expenditure
w22570 Laurent Bouton
Alessandro Lizzeri
Nicola Persico

The Political Economy of Debt and Entitlements
w22509 Pablo D'Erasmo
Enrique G. Mendoza

Optimal Domestic (and External) Sovereign Default
w22509 Pablo D'Erasmo
Enrique G. Mendoza

Optimal Domestic (and External) Sovereign Default
w22431 Edward C. Prescott
Ryan Wessel

Monetary Policy with 100 Percent Reserve Banking: An Exploration
w22410 Laurence Ball
The Fed and Lehman Brothers: Introduction and Summary
w22415 Ricardo Reis
QE in the future: the central bank's balance sheet in a fiscal crisis
w22422 Edward C. Prescott
RBC Methodology and the Development of Aggregate Economic Theory
w22425 Juan Carlos Suárez Serrato
Philippe Wingender

Estimating Local Fiscal Multipliers
w22374 Antonio Fatás
Lawrence H. Summers

The Permanent Effects of Fiscal Consolidations
w22370 Pierre-Olivier Gourinchas
Thomas Philippon
Dimitri Vayanos

The Analytics of the Greek Crisis
w22349 Jeffrey A. Frankel
Jesse Schreger

Bias in Official Fiscal Forecasts: Can Private Forecasts Help?
w22359 Alisdair McKay
Ricardo Reis

Optimal Automatic Stabilizers
w22321 Jeffrey Brinkman
Daniele Coen-Pirani
Holger Sieg

The Political Economy of Underfunded Municipal Pension Plans
w22336 Marina Azzimonti
Does Partisan Conflict Deter FDI Inflows to the US?
w22283 Ambrogio Cesa-Bianchi
Alessandro Rebucci

Does Easing Monetary Policy Increase Financial Instability?
w22295 Emmanuel Farhi
Matteo Maggiori

A Model of the International Monetary System
w22243 Gauti B. Eggertsson
Kevin Proulx

Bernanke's No-arbitrage Argument Revisited: Can Open Market Operations in Real Assets Eliminate the Liquidity Trap?
w22243 Gauti B. Eggertsson
Kevin Proulx

Bernanke's No-arbitrage Argument Revisited: Can Open Market Operations in Real Assets Eliminate the Liquidity Trap?
w22239 Lee E. Ohanian
The Great Recession in the Shadow of the Great Depression: A Review Essay on "Hall of Mirrors: The Great Depression, The Great Recession and the Uses and Misuses Of History"
w22163 Gabriel Chodorow-Reich
Loukas Karabarbounis

The Limited Macroeconomic Effects of Unemployment Benefit Extensions
w22125 Mark Aguiar
Satyajit Chatterjee
Harold Cole
Zachary Stangebye

Quantitative Models of Sovereign Debt Crises
w22135 Roger Farmer
Pawel Zabczyk

The Theory of Unconventional Monetary Policy
w22140 Jérémie Cohen-Setton
Joshua K. Hausman
Johannes F. Wieland

Supply-Side Policies in the Depression: Evidence from France
w22122 Gary D. Hansen
Lee E. Ohanian

Neoclassical Models in Macroeconomics
w22076 Florian Scheuer
Iván Werning

Mirrlees meets Diamond-Mirrlees
w22059 Michael D. Bordo
Christopher M. Meissner

Fiscal and Financial Crises
w22012 Mikhail Golosov
Aleh Tsyvinski
Nicolas Werquin

Recursive Contracts and Endogenously Incomplete Markets
w22032 Alan J. Auerbach
Laurence J. Kotlikoff
Darryl R. Koehler

U.S. Inequality, Fiscal Progressivity, and Work Disincentives: An Intragenerational Accounting
w22006 Gaetano Gaballo
Ramon Marimon

Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies
w21978 Valerie A. Ramey
Macroeconomic Shocks and Their Propagation
w21954 Takatoshi Ito
Japanization: Is it Endemic or Epidemic?
w21954 Takatoshi Ito
Japanization: Is it Endemic or Epidemic?
w21948 Alessandro Dovis
Mikhail Golosov
Ali Shourideh

Political Economy of Sovereign Debt: A Theory of Cycles of Populism and Austerity
w21901 Alberto Alesina
Benedetta Brioschi
Eliana La Ferrara

Violence Against Women: A Cross-cultural Analysis for Africa
w21848 Xavier Gabaix
Behavioral Macroeconomics Via Sparse Dynamic Programming
w21866 Narayana Kocherlakota
Fragility of Purely Real Macroeconomic Models
w21867 Eric M. Leeper
Campbell Leith

Understanding Inflation as a Joint Monetary-Fiscal Phenomenon
w21867 Eric M. Leeper
Campbell Leith

Understanding Inflation as a Joint Monetary-Fiscal Phenomenon
w21867 Eric M. Leeper
Campbell Leith

Understanding Inflation as a Joint Monetary-Fiscal Phenomenon
2015
w21822 Eric M. Leeper
Fiscal Analysis is Darned Hard
w21822 Eric M. Leeper
Fiscal Analysis is Darned Hard
w21822 Eric M. Leeper
Fiscal Analysis is Darned Hard
w21821 Alberto Alesina
Andrea Passalacqua

The Political Economy of Government Debt
w21799 George J. Hall
Thomas J. Sargent

A History of U.S. Debt Limits
w21760 Pablo D. Fajgelbaum
Eduardo Morales
Juan Carlos Suárez Serrato
Owen M. Zidar

State Taxes and Spatial Misallocation
w21694 Sebastian Edwards
Francis A. Longstaff
Alvaro Garcia Marin

The U.S. Debt Restructuring of 1933: Consequences and Lessons
w21680 Gerald Carlino
Robert P. Inman

Fiscal Stimulus in Economic Unions: What Role for States?
w21688 Christopher L. House
Linda L. Tesar

Greek Budget Realities: No Easy Options
w21651 Michael Cooper
John McClelland
James Pearce
Richard Prisinzano
Joseph Sullivan
Danny Yagan
Owen Zidar
Eric Zwick

Business in the United States: Who Owns it and How Much Tax Do They Pay?
w21660 Marco Battaglini
Levon Barseghyan

Political Economy of Debt and Growth
w21660 Marco Battaglini
Levon Barseghyan

Political Economy of Debt and Growth
w21667 David Berger
Veronica Guerrieri
Guido Lorenzoni
Joseph Vavra

House Prices and Consumer Spending
w21626 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

Phasing Out the GSEs
w21633 Scott R. Baker
Nicholas Bloom
Steven J. Davis

Measuring Economic Policy Uncertainty
w21608 Daron Acemoglu
Murat Ucer

The Ups and Downs of Turkish Growth, 2002-2015: Political Dynamics, the European Union and the Institutional Slide
w21585 Frank N. Caliendo
Aspen Gorry
Sita Slavov

The Cost of Uncertainty about the Timing of Social Security Reform
w21574 Pablo D'Erasmo
Enrique G. Mendoza
Jing Zhang

What is a Sustainable Public Debt?
w21550 Andrew B. Abel
Crowding Out in Ricardian Economies
w21538 Dirk Krueger
Alexander Ludwig

On the Optimal Provision of Social Insurance: Progressive Taxation versus Education Subsidies in General Equilibrium
w21512 Sumit Agarwal
Gene Amromin
Souphala Chomsisengphet
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program
w21490 Alberto Cavallo
Scraped Data and Sticky Prices
w21492 Marina Halac
Pierre Yared

Fiscal Rules and Discretion in a World Economy
w21444 Joseph E. Stiglitz
Towards a General Theory of Deep Downturns
w21426 Olivier Blanchard
Christopher J. Erceg
Jesper Lindé

Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
w21433 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis
w21433 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis
w21436 Carlos A. Vegh
Guillermo Vuletin

Unsticking the Flypaper Effect in an Uncertain World
w21388 Rahul Anand
Eswar Prasad
Boyang Zhang

What Measure of Inflation Should a Developing Country Central Bank Target?
w21322 Pascal Michaillat
Emmanuel Saez

The Optimal Use of Government Purchases for Stabilization
w21333 Carmen M. Reinhart
Miguel Angel Santos

From Financial Repression to External Distress: The Case of Venezuela
w21336 Saroj Bhattarai
Gauti B. Eggertsson
Bulat Gafarov

Time Consistency and the Duration of Government Debt: A Signalling Theory of Quantitative Easing
w21336 Saroj Bhattarai
Gauti B. Eggertsson
Bulat Gafarov

Time Consistency and the Duration of Government Debt: A Signalling Theory of Quantitative Easing
w21350 Carmen M. Reinhart
The Antecedents and Aftermath of Financial Crises as told by Carlos F. Díaz Alejandro
w21316 Atif Mian
Amir Sufi
Nasim Khoshkhou

Government Economic Policy, Sentiments, and Consumption
w21280 Jaume Ventura
Hans-Joachim Voth

Debt into Growth: How Sovereign Debt Accelerated the First Industrial Revolution
w21287 Michael D. Bordo
Christopher M. Meissner

Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises
w21273 Marina Azzimonti
Partisan Conflict and Private Investment
w21228 Nicola Fuchs-Schuendeln
Tarek Alexander Hassan

Natural Experiments in Macroeconomics
w21220 Claudia R. Sahm
Matthew D. Shapiro
Joel Slemrod

Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration
w21201 Miguel Faria-e-Castro
Joseba Martinez
Thomas Philippon

Runs versus Lemons: Information Disclosure and Fiscal Capacity
w21152 Farley Grubb
Colonial New Jersey's Provincial Fiscal Structure, 1709-1775: Spending Obligations, Revenue Sources, and Tax Burdens in War and in Peace
w21158 Philippe Bacchetta
Elena Perazzi
Eric van Wincoop

Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?
w21158 Philippe Bacchetta
Elena Perazzi
Eric van Wincoop

Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?
w21100 Alan J. Auerbach
Yuriy Gorodnichenko

Effects of Fiscal Shocks in a Globalized World
w21074 David M. Byrne
Stephen D. Oliner
Daniel E. Sichel

How Fast are Semiconductor Prices Falling?
w21092 Olivier Coibion
Yuriy Gorodnichenko
Saten Kumar

How Do Firms Form Their Expectations? New Survey Evidence
w21047 Mariacristina De Nardi
Fang Yang

Wealth Inequality, Family Background, and Estate Taxation
w21035 Owen M. Zidar
Tax Cuts For Whom? Heterogeneous Effects of Income Tax Changes on Growth and Employment
w21017 Michael Bordo
Harold James

Capital Flows and Domestic and International Order: Trilemmas from Macroeconomics to Political Economy and International Relations
w20896 Yan Bai
Seon Tae Kim
Gabriel P. Mihalache

The Maturity and Payment Schedule of Sovereign Debt
w20862 Martin S. Feldstein
Ending the Euro Crisis?
w20821 Era Dabla-Norris
Yan Ji
Robert M. Townsend
D. Filiz Unsal

Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and Inequality
w20827 Alberto Alesina
Omar Barbiero
Carlo Favero
Francesco Giavazzi
Matteo Paradisi

Austerity in 2009-2013
2014
w20753 Alexander Ljungqvist
Michael Smolyansky

To Cut or Not to Cut? On the Impact of Corporate Taxes on Employment and Income
w20751 Raphael Corbi
Elias Papaioannou
Paolo Surico

Federal Transfer Multipliers. Quasi-Experimental Evidence from Brazil
w20719 Valerie A. Ramey
Sarah Zubairy

Government Spending Multipliers in Good Times and in Bad: Evidence from U.S. Historical Data
w20687 Florin O. Bilbiie
Tommaso Monacelli
Roberto Perotti

Is Government Spending at the Zero Lower Bound Desirable?
w20688 Hans A. Holter
Dirk Krueger
Serhiy Stepanchuk

How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?
w20675 Carlos A. Vegh
Guillermo Vuletin

The Road to Redemption: Policy Response to Crises in Latin America
w20632 Davide Debortoli
Ricardo Nunes
Pierre Yared

Optimal Time-Consistent Government Debt Maturity
w20633 Mikhail Golosov
Luigi Iovino

Social Insurance, Information Revelation, and Lack of Commitment
w20650 Russell Cooper
Antoine Camous

Monetary Policy and Debt Fragility
w20613 John H. Cochrane
Monetary Policy with Interest on Reserves
w20613 John H. Cochrane
Monetary Policy with Interest on Reserves
w20601 Fabian Kindermann
Dirk Krueger

High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk
w20572 Philippe Martin
Thomas Philippon

Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
w20573 Lant Pritchett
Lawrence H. Summers

Asiaphoria Meets Regression to the Mean
w20577 Carmen M. Reinhart
Christoph Trebesch

A Distant Mirror of Debt, Default, and Relief
w20543 Andrew T. Young
Matthew J. Higgins
Donald J. Lacombe
Briana Sell

The Direct and Indirect Effects of Small Business Administration Lending on Growth: Evidence from U.S. County-Level Data
w20561 Benjamin J. Keys
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Rates, Household Balance Sheets, and the Real Economy
w20530 Joseph E. Stiglitz
In Praise of Frank Ramsey's Contribution to the Theory of Taxation
w20533 Daniel Riera-Crichton
Carlos A. Vegh
Guillermo Vuletin

Procyclical and Countercyclical Fiscal Multipliers: Evidence from OECD Countries
w20493 Joseph E. Stiglitz
Leaders and Followers: Perspectives on the Nordic Model and the Economics of Innovation
w20486 Eric T. Swanson
John C. Williams

Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates
w20437 Lorenz Kueng
Tax News: The Response of Household Spending
to Changes in Expected Taxes
w20410 Joao Granja
Gregor Matvos
Amit Seru

Selling Failed Banks
w20324 Alan S. Blinder
Mark W. Watson

Presidents and the U.S. Economy: An Econometric Exploration
w20339 Jens Hilscher
Alon Raviv
Ricardo Reis

Inflating Away the Public Debt? An Empirical Assessment
w20316 Barry Eichengreen
Ugo Panizza

A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?
w20287 Morris A. Davis
Stijn Van Nieuwerburgh

Housing, Finance and the Macroeconomy
w20238 Francesco Bianchi
Leonardo Melosi

Escaping the Great Recession
w20238 Francesco Bianchi
Leonardo Melosi

Escaping the Great Recession
w20220 Kris James Mitchener
Kirsten Wandschneider

Capital Controls and Recovery from the Financial Crisis of the 1930s
w20200 Enrique G. Mendoza
Linda L. Tesar
Jing Zhang

Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
w20200 Enrique G. Mendoza
Linda L. Tesar
Jing Zhang

Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
w20179 Roberto Perotti
Defense Government Spending Is Contractionary, Civilian Government Spending Is Expansionary
w20185 Laurence M. Ball
Long-Term Damage from the Great Recession in OECD Countries
w20185 Laurence M. Ball
Long-Term Damage from the Great Recession in OECD Countries
w20122 Christian Broda
Jonathan A. Parker

The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption
w20087 Christina D. Romer
David H. Romer

Transfer Payments and the Macroeconomy: The Effects of Social Security Benefit Changes, 1952-1991
w20087 Christina D. Romer
David H. Romer

Transfer Payments and the Macroeconomy: The Effects of Social Security Benefit Changes, 1952-1991
w20073 Greg Kaplan
Giovanni L. Violante
Justin Weidner

The Wealthy Hand-to-Mouth
w20043 Florian Scheuer
Alexander Wolitzky

Capital Taxation under Political Constraints
w20014 Joseph E. Stiglitz
Intellectual Property Rights, the Pool of Knowledge, and Innovation
w19994 Oleg Itskhoki
Benjamin Moll

Optimal Development Policies with Financial Frictions
w19934 Anusha Chari
Peter Blair Henry

Learning From the Doers: Developing Country Lessons for Advanced Economy Growth
w19934 Anusha Chari
Peter Blair Henry

Learning From the Doers: Developing Country Lessons for Advanced Economy Growth
w19910 John Graham
Mark T. Leary
Michael R. Roberts

A Century of Capital Structure: The Leveraging of Corporate America
w19911 Alan J. Auerbach
Yuriy Gorodnichenko

Fiscal Multipliers in Japan
w19914 Sebnem Kalemli-Ozcan
Emiliano E. Luttini
Bent Sorensen

Debt Crises and Risk Sharing: The Role of Markets versus Sovereigns
w19895 Robert J. Gordon
The Demise of U.S. Economic Growth: Restatement, Rebuttal, and Reflections
w19828 Carlos A. Vegh
Guillermo Vuletin

Social Implications of Fiscal Policy Responses During Crises
w19840 Anusha Chari
Peter Blair Henry

Two Tales of Adjustment: East Asian Lessons for European Growth
w19840 Anusha Chari
Peter Blair Henry

Two Tales of Adjustment: East Asian Lessons for European Growth
w19826 Scott R. Baker
Nicholas Bloom
Brandice Canes-Wrone
Steven J. Davis
Jonathan A. Rodden

Why Has U.S. Policy Uncertainty Risen Since 1960?
2013
w19748 Luis Felipe Céspedes
Andrés Velasco

Was This Time Different? Fiscal Policy in Commodity Republics
w19749 Eric Sims
Jonathan Wolff

The Output and Welfare Effects of Government Spending Shocks over the Business Cycle
w19749 Eric Sims
Jonathan Wolff

The Output and Welfare Effects of Government Spending Shocks over the Business Cycle
w19717 Mark Aguiar
Manuel Amador

Take the Short Route: How to Repay and Restructure Sovereign Debt with Multiple Maturities
w19686 Eric M. Leeper
Xuan Zhou

Inflation's Role in Optimal Monetary-Fiscal Policy
w19686 Eric M. Leeper
Xuan Zhou

Inflation's Role in Optimal Monetary-Fiscal Policy
w19671 Andrés Fernández
Alessandro Rebucci
Martín Uribe

Are Capital Controls Prudential? An Empirical Investigation
w19668 Eswar S. Prasad
Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies
w19577 Farley Grubb
The Continental Dollar: How the American Revolution was Financed with Paper Money--Initial Design and Ideal Performance
w19577 Farley Grubb
The Continental Dollar: How the American Revolution was Financed with Paper Money--Initial Design and Ideal Performance
w19559 Gerald Carlino
Robert P. Inman

Macro Fiscal Policy in Economic Unions: States as Agents
w19516 Mark Aguiar
Manuel Amador
Emmanuel Farhi
Gita Gopinath

Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
w19470 Anmol Bhandari
David Evans
Mikhail Golosov
Thomas J. Sargent

Taxes, Debts, and Redistributions with Aggregate Shocks
w19476 John H. Cochrane
The New-Keynesian Liquidity Trap
w19477 Pablo D'Erasmo
Enrique G. Mendoza

Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default
w19425 Anton Cheremukhin
Mikhail Golosov
Sergei Guriev
Aleh Tsyvinski

Was Stalin Necessary for Russia's Economic Development?
w19431 Gary Hansen
Selo Imrohoroglu

Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective
w19414 Òscar Jordà
Alan M. Taylor

The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
w19355 Joshua D. Angrist
Òscar Jordà
Guido Kuersteiner

Semiparametric Estimates of Monetary Policy Effects: String Theory Revisited
w19368 Michael Woodford
Macroeconomic Analysis without the Rational Expectations Hypothesis
w19363 Peter Ganong
Jeffrey B. Liebman

The Decline, Rebound, and Further Rise in SNAP Enrollment: Disentangling Business Cycle Fluctuations and Policy Changes
w19343 Harald Uhlig
Sovereign Default Risk and Banks in a Monetary Union
w19343 Harald Uhlig
Sovereign Default Risk and Banks in a Monetary Union
w19288 Ricardo Reis
The Portuguese Slump and Crash and the Euro Crisis
w19292 Gary B. Gorton
Andrew Metrick

The Federal Reserve and Financial Regulation: The First Hundred Years
w19296 Marco Bassetto
Marco Cagetti
Mariacristina De Nardi

Credit Crunches and Credit Allocation in a Model of Entrepreneurship
w19297 David Greenlaw
James D. Hamilton
Peter Hooper
Frederic S. Mishkin

Crunch Time: Fiscal Crises and the Role of Monetary Policy
w19228 Guido Lorenzoni
Ivan Werning

Slow Moving Debt Crises
w19235 Florian Scheuer
Entrepreneurial Taxation with Endogenous Entry
w19205 Yothin Jinjarak
Ilan Noy
Huanhuan Zheng

Capital Controls in Brazil - Stemming a Tide with a Signal?
w19171 Karel Mertens
Marginal Tax Rates and Income: New Time Series Evidence
w19171 Karel Mertens
Marginal Tax Rates and Income: New Time Series Evidence
w19192 V.V. Chari
Patrick J. Kehoe

Bailouts, Time Inconsistency, and Optimal Regulation
w19192 V.V. Chari
Patrick J. Kehoe

Bailouts, Time Inconsistency, and Optimal Regulation
w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy
w19008 George J. Hall
Thomas J. Sargent

Fiscal Discriminations in Three Wars
w19000 Alisdair McKay
Ricardo Reis

The Role of Automatic Stabilizers in the U.S. Business Cycle
w18930 Gerald Carlino
Robert P. Inman

Local Deficits and Local Jobs: Can U.S. States Stabilize Their Own Economies?
w18910 Umit G. Gurun
Gregor Matvos
Amit Seru

Advertising Expensive Mortgages
w18864 Marco Bassetto
Christopher Phelan

Speculative Runs on Interest Rate Pegs
w18877 Eric M. Leeper
Fiscal Limits and Monetary Policy
w18877 Eric M. Leeper
Fiscal Limits and Monetary Policy
w18826 Pascal Michaillat
Emmanuel Saez

Aggregate Demand, Idle Time, and Unemployment
w18800 George-Marios Angeletos
Fabrice Collard
Harris Dellas
Behzad Diba

Optimal Public Debt Management and Liquidity Provision
w18814 Christopher M. Meissner
Capital Flows, Credit Booms, and Financial Crises in the Classical Gold Standard Era
w18779 Olivier J. Blanchard
Daniel Leigh

Growth Forecast Errors and Fiscal Multipliers
w18797 Robert E. Hall
Fiscal Stability of High-Debt Nations under Volatile Economic Conditions
w18769 Michael T. Owyang
Valerie A. Ramey
Sarah Zubairy

Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data
w18761 Peter A. Diamond
Cyclical Unemployment, Structural Unemployment
w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
w18670 Itay Goldstein
Assaf Razin

Three Branches of Theories of Financial Crises
2012
w18587 Javier Bianchi
Efficient Bailouts?
w18572 Harold L. Cole
Soojin Kim
Dirk Krueger

Analyzing the Effects of Insuring Health Risks: On the Trade-off between Short Run Insurance Benefits vs. Long Run Incentive Costs
w18578 Alan J. Auerbach
Yuriy Gorodnichenko

Output Spillovers from Fiscal Policy
w18545 Marina Halac
Pierre Yared

Fiscal Rules and Discretion under Persistent Shocks
w18529 Gary D. Hansen
Minchung Hsu
Junsang Lee

Health Insurance Reform: The Impact of a Medicare Buy-In
w18513 Zhiguo He
Asaf Manela

Information Acquisition in Rumor Based Bank Runs
w18489 Robert Novy-Marx
Joshua D. Rauh

The Revenue Demands of Public Employee Pension Promises
w18497 Daniel Riera-Crichton
Carlos A. Vegh
Guillermo Vuletin

Tax Multipliers: Pitfalls in Measurement and Identification
w18421 Roger E.A. Farmer
Qualitative Easing: How it Works and Why it Matters
w18377 Russell Cooper
Debt Fragility and Bailouts
w18377 Russell Cooper
Debt Fragility and Bailouts
w18380 C. Bora Durdu
Enrique G. Mendoza
Marco E. Terrones

On the Solvency of Nations: Cross-Country Evidence on the Dynamics of External Adjustment
w18381 Emmanuel Farhi
Iván Werning

Fiscal Multipliers: Liquidity Traps and Currency Unions
w18354 Laurence Ales
Pricila Maziero
Pierre Yared

A Theory of Political and Economic Cycles
w18311 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Tomasz Piskorski
Amit Seru

Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
w18311 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Tomasz Piskorski
Amit Seru

Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
w18315 Robert J. Gordon
Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds
w18336 Alberto Alesina
Carlo Favero
Francesco Giavazzi

The Output Effect of Fiscal Consolidations
w18287 Takeo Hoshi
Takatoshi Ito

Defying Gravity: How Long Will Japanese Government Bond Prices Remain High?
w18290 Alan M. Taylor
The Great Leveraging
w18280 Ivan Werning
Emmanuel Farhi

Fiscal Unions
w18280 Ivan Werning
Emmanuel Farhi

Fiscal Unions
w18217 Zhiguo He
Péter Kondor

Inefficient Investment Waves
w18228 Casey Rothschild
Florian Scheuer

Redistributive Taxation in the Roy Model
w18142 Miles S. Kimball
"Getting the Biggest Bang for the Buck in Fiscal Policy"
w18149 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Testing for Keynesian Labor Demand
w18117 Paola Giuliano
Prachi Mishra
Antonio Spilimbergo

Democracy and Reforms: Evidence from a New Dataset
w18114 Jess Benhabib
George W. Evans
Seppo Honkapohja

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?
w18058 Jesús Fernández-Villaverde
Grey Gordon
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Nonlinear Adventures at the Zero Lower Bound
w18031 Stephanie Schmitt-Grohe
Martin Uribe

Prudential Policy for Peggers
w18034 Eric W. Bond
Mario J. Crucini
Tristan Potter
Joel Rodrigue

Misallocation and Productivity Effects of the Smoot-Hawley Tariff
w18042 Sylvain Leduc
Daniel Wilson

Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment
w18015 Carmen M. Reinhart
Vincent R. Reinhart
Kenneth S. Rogoff

Debt Overhangs: Past and Present
w18015 Carmen M. Reinhart
Vincent R. Reinhart
Kenneth S. Rogoff

Debt Overhangs: Past and Present
w17966 Jesse Rothstein
The Labor Market Four Years Into the Crisis: Assessing Structural Explanations
w17923 Fernando E. Alvarez
Francesco Lippi

Price Setting with menu cost for Multi-product firms
w17917 Richard W. Evans
Laurence J. Kotlikoff
Kerk L. Phillips

Game Over: Simulating Unsustainable Fiscal Policy
w17908 Russell Cooper
Exit from a Monetary Union through Euroization: Discipline without Chaos
w17908 Russell Cooper
Exit from a Monetary Union through Euroization: Discipline without Chaos
w17903 Eric M. Leeper
Todd B. Walker

Perceptions and Misperceptions of Fiscal Inflation
w17903 Eric M. Leeper
Todd B. Walker

Perceptions and Misperceptions of Fiscal Inflation
w17881 Pïerre Cahuc
Stephane Carcillo

Can Public Sector Wage Bills Be Reduced?
w17884 Charles Wyplosz
Fiscal Rules: Theoretical Issues and Historical Experiences
w17884 Charles Wyplosz
Fiscal Rules: Theoretical Issues and Historical Experiences
w17860 Christina D. Romer
David H. Romer

The Incentive Effects of Marginal Tax Rates: Evidence from the Interwar Era
w17862 Mathias Trabandt
Harald Uhlig

How Do Laffer Curves Differ Across Countries?
w17844 Huixin Bi
Eric M. Leeper
Campbell B. Leith

Uncertain Fiscal Consolidations
w17836 Laurence M. Ball
Ben Bernanke and the Zero Bound
w17837 Francesco Giavazzi
Michael McMahon

The Households Effects of Government Consumption
w17817 Florian Scheuer
Optimal Asset Taxes in Financial Markets with Aggregate Uncertainty
w17787 Valerie A. Ramey
Government Spending and Private Activity
w17753 Carlos A. Vegh
Guillermo Vuletin

How is Tax Policy Conducted over the Business Cycle?
2011
w17708 Giancarlo Corsetti
Gernot J. Müller

Multilateral Economic Cooperation and the International Transmission of Fiscal Policy
w17662 Emmanuel Farhi
Gita Gopinath
Oleg Itskhoki

Fiscal Devaluations
w17642 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski

Optimal Dynamic Taxes
w17619 Jeffrey A. Frankel
Carlos A. Végh
Guillermo Vuletin

On Graduation from Fiscal Procyclicality
w17622 Fatih Guvenen
Macroeconomics With Heterogeneity: A Practical Guide
w17626 Hans-Werner Sinn
Timo Wollmershaeuser

Target Loans, Current Account Balances and Capital Flows: The ECB's Rescue Facility
w17562 Marco Battaglini
Stephen Coate

Fiscal Policy and Unemployment
w17562 Marco Battaglini
Stephen Coate

Fiscal Policy and Unemployment
w17571 Roberto Perotti
The "Austerity Myth": Gain Without Pain?
w17571 Roberto Perotti
The "Austerity Myth": Gain Without Pain?
w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector
w17493 Andrew Atkeson
Ariel T. Burstein

Aggregate Implications of Innovation Policy
w17444 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass
w17444 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass
w17447 Alan J. Auerbach
Yuriy Gorodnichenko

Fiscal Multipliers in Recession and Expansion
w17457 Mark A. Aguiar
Manuel Amador

Fiscal Policy in Debt Constrained Economies
w17427 Joshua Aizenman
Yothin Jinjarak

The Fiscal Stimulus of 2009-10: Trade Openness, Fiscal Space and Exchange Rate Adjustment
w17431 Gilles St. Paul
Toward a Political Economy of Macroeconomic Thinking
w17391 Emi Nakamura
Jón Steinsson

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions
w17348 Mikhail Golosov
John Hassler
Per Krusell
Aleh Tsyvinski

Optimal Taxes on Fossil Fuel in General Equilibrium
w17315 Gene Amromin
Jennifer Huang
Clemens Sialm
Edward Zhong

Complex Mortgages
w17305 Takero Doi
Takeo Hoshi
Tatsuyoshi Okimoto

Japanese Government Debt and Sustainability of Fiscal Policy
w17309 Rafael Di Tella
Juan Dubra

Free to Punish? The American Dream and the Harsh Treatment of Criminals
w17319 Sanjay K. Chugh
Fabio Ghironi

Optimal Fiscal Policy with Endogenous Product Variety
w17272 Carlo Favero
Francesco Giavazzi
Jacopo Perego

Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy
w17230 Ruediger Bachmann
Jinhui Bai

Public Consumption Over the Business Cycle
w17230 Ruediger Bachmann
Jinhui Bai

Public Consumption Over the Business Cycle
w17239 Jeffrey A. Frankel
Over-optimism in Forecasts by Official Budget Agencies and Its Implications
w17240 Jonathan A. Parker
On Measuring the Effects of Fiscal Policy in Recessions
w17142 Lawrence Christiano
Daisuke Ikeda

Government Policy, Credit Markets and Economic Activity
w17111 Thorsten Drautzburg
Harald Uhlig

Fiscal Stimulus and Distortionary Taxation
w17111 Thorsten Drautzburg
Harald Uhlig

Fiscal Stimulus and Distortionary Taxation
w17111 Thorsten Drautzburg
Harald Uhlig

Fiscal Stimulus and Distortionary Taxation
w17029 N. Gregory Mankiw
Matthew C. Weinzierl

An Exploration of Optimal Stabilization Policy
w17029 N. Gregory Mankiw
Matthew C. Weinzierl

An Exploration of Optimal Stabilization Policy
w17063 Rüdiger Bachmann
Eric R. Sims

Confidence and the Transmission of Government Spending Shocks
w17035 Casey Rothschild
Florian Scheuer

Optimal Taxation with Rent-Seeking
w16970 Marco Bassetto
Leslie McGranahan

On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States
w16951 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Foresight and Information Flows
w16945 Jeffrey A. Frankel
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile
w16899 Patrick Bolton
Olivier Jeanne

Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
w16891 Betsey Stevenson
Justin Wolfers

Trust in Public Institutions over the Business Cycle
w16893 Carmen M. Reinhart
M. Belen Sbrancia

The Liquidation of Government Debt
w16819 Eric M. Leeper
Todd B. Walker

Fiscal Limits in Advanced Economies
w16819 Eric M. Leeper
Todd B. Walker

Fiscal Limits in Advanced Economies
w16799 Troy Davig
Eric M. Leeper

Temporarily Unstable Government Debt and Inflation
w16799 Troy Davig
Eric M. Leeper

Temporarily Unstable Government Debt and Inflation
w16775 Hyunseung Oh
Ricardo Reis

Targeted Transfers and the Fiscal Response to the Great Recession
w16779 Joshua Aizenman
Gurnain Kaur Pasricha

Net Fiscal Stimulus During the Great Recession
w16782 Atish R. Ghosh
Jun I. Kim
Enrique G. Mendoza
Jonathan D. Ostry
Mahvash S. Qureshi

Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
w16786 Roberto Perotti
The Effects of Tax Shocks on Output: Not So Large, But Not Small Either
w16758 Isabel Correia
Emmanuel Farhi
Juan Pablo Nicolini
Pedro Teles

Unconventional Fiscal Policy at the Zero Bound
w16758 Isabel Correia
Emmanuel Farhi
Juan Pablo Nicolini
Pedro Teles

Unconventional Fiscal Policy at the Zero Bound
w16759 James Feyrer
Bruce Sacerdote

Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act
w16759 James Feyrer
Bruce Sacerdote

Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act
w16759 James Feyrer
Bruce Sacerdote

Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act
w16707 Olivier Coibion
Yuriy Gorodnichenko

Why Are Target Interest Rate Changes So Persistent?
w16684 Jonathan A. Parker
Nicholas S. Souleles
David S. Johnson
Robert McClelland

Consumer Spending and the Economic Stimulus Payments of 2008
w16684 Jonathan A. Parker
Nicholas S. Souleles
David S. Johnson
Robert McClelland

Consumer Spending and the Economic Stimulus Payments of 2008
w16667 Allan Drazen
Ethan Ilzetzki

Kosher Pork
2010
w16644 Roger E.A. Farmer
Dmitry Plotnikov

Does Fiscal Policy Matter? Blinder and Solow Revisited
w16645 Rafael Di Tella
Ricardo Pérez-Truglia

Conveniently Upset: Avoiding Altruism by Distorting Beliefs About Others
w16619 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski
Matthew Weinzierl

Preference Heterogeneity and Optimal Capital Income Taxation
w16619 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski
Matthew Weinzierl

Preference Heterogeneity and Optimal Capital Income Taxation
w16563 Luis Catão
Roberto Chang

World Food Prices and Monetary Policy
w16561 Price V. Fishback
Valentina Kachanovskaya

In Search of the Multiplier for Federal Spending in the States During the Great Depression
w16539 Joshua Aizenman
Yothin Jinjarak

De facto Fiscal Space and Fiscal Stimulus: Definition and Assessment
w16495 Troy Davig
Eric M. Leeper
Todd B. Walker

Inflation and the Fiscal Limit
w16510 Eric M. Leeper
Monetary Science, Fiscal Alchemy
w16510 Eric M. Leeper
Monetary Science, Fiscal Alchemy
w16505 John F. Cogan
John B. Taylor

What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package
w16477 Price V. Fishback
U.S. Monetary and Fiscal Policy in the 1930s
w16478 Joshua Aizenman
Gurnain Kaur Pasricha

Fiscal fragility: what the past may say about the future
w16478 Joshua Aizenman
Gurnain Kaur Pasricha

Fiscal fragility: what the past may say about the future
w16479 Ethan Ilzetzki
Enrique G. Mendoza
Carlos A. Végh

How Big (Small?) are Fiscal Multipliers?
w16451 Martin S. Feldstein
Preventing a National Debt Explosion
w16458 Antje Berndt
Hanno Lustig
Sevin Yeltekin

How Does the U.S. Government Finance Fiscal Shocks?
w16416 Harald Uhlig
Economics and Reality
w16401 Yongsung Chang
Sun-Bin Kim
Frank Schorfheide

Labor-Market Heterogeneity, Aggregation, and the Lucas Critique
w16363 Eric M. Leeper
Alexander W. Richter
Todd B. Walker

Quantitative Effects of Fiscal Foresight
w16380 Robert J. Gordon
Robert Krenn

The End of the Great Depression 1939-41: Policy Contributions and Fiscal Multipliers
w16346 Agustín S. Bénétrix
Philip R. Lane

International Differences in Fiscal Policy During the Global Crisis
w16351 Atif Mian
Amir Sufi

The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program
w16351 Atif Mian
Amir Sufi

The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program
w16351 Atif Mian
Amir Sufi

The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program
w16358 Matthias Fleckenstein
Francis A. Longstaff
Hanno Lustig

Why Does the Treasury Issue Tips? The Tips-Treasury Bond Puzzle
w16311 Alan J. Auerbach
Yuriy Gorodnichenko

Measuring the Output Responses to Fiscal Policy
w16289 Karel Mertens
Morten Ravn

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks
w16290 Rahul Anand
Eswar S. Prasad

Optimal Price Indices for Targeting Inflation Under Incomplete Markets
w16264 S. Boragan Aruoba
Francis X. Diebold
M. Ayhan Kose
Marco E. Terrones

Globalization, the Business Cycle, and Macroeconomic Monitoring
w16247 Ruediger Bachmann
Jinhui Bai

Government Purchases Over the Business Cycle: the Role of Economic and Political Inequality
w16247 Ruediger Bachmann
Jinhui Bai

Government Purchases Over the Business Cycle: the Role of Economic and Political Inequality
w16243 Andrew K. Rose
Mark M. Spiegel

Cross-Country Causes and Consequences of the Crisis: An Update
w16246 Claudia R. Sahm
Matthew D. Shapiro
Joel Slemrod

Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?
w16168 Rong Qian
Carmen M. Reinhart
Kenneth S. Rogoff

On Graduation from Default, Inflation and Banking Crisis: Elusive or Illusion?
w16169 Ryan Chahrour
Stephanie Schmitt-Grohé
Martín Uribe

A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier
w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts
w16087 John H. Cochrane
Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic
w16095 Michael Woodford
Optimal Monetary Stabilization Policy
w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes
w15998 Raj Chetty
Adam Szeidl

The Effect of Housing on Portfolio Choice
w15956 Ross Levine
An Autopsy of the U.S. Financial System
w15931 Tommaso Monacelli
Roberto Perotti
Antonella Trigari

Unemployment Fiscal Multipliers
w15934 Willem H. Buiter
Urjit R. Patel

Fiscal Rules in India: Are They Effective?
w15934 Willem H. Buiter
Urjit R. Patel

Fiscal Rules in India: Are They Effective?
w15839 Lauren Cohen
Joshua D. Coval
Christopher Malloy

Do Powerful Politicians Cause Corporate Downsizing?
w15847 Marco Del Negro
Fabrizio Perri
Fabiano Schivardi

Tax buyouts
w15809 Yacine Aït-Sahalia
Jochen Andritzky
Andreas Jobst
Sylwia Nowak
Natalia Tamirisa

Market Response to Policy Initiatives during the Global Financial Crisis
w15809 Yacine Aït-Sahalia
Jochen Andritzky
Andreas Jobst
Sylwia Nowak
Natalia Tamirisa

Market Response to Policy Initiatives during the Global Financial Crisis
w15810 Huixin Bi
Eric M. Leeper

Sovereign Debt Risk Premia and Fiscal Policy in Sweden
w15810 Huixin Bi
Eric M. Leeper

Sovereign Debt Risk Premia and Fiscal Policy in Sweden
w15800 Casey B. Mulligan
Simple Analytics and Empirics of the Government Spending Multiplier and Other "Keynesian" Paradoxes
w15780 Graciela L. Kaminsky
Terms of Trade Shocks and Fiscal Cycles
w15782 Troy Davig
Eric M. Leeper
Todd B. Walker

"Unfunded Liabilities" and Uncertain Fiscal Financing
w15782 Troy Davig
Eric M. Leeper
Todd B. Walker

"Unfunded Liabilities" and Uncertain Fiscal Financing
w15784 Joshua Aizenman
Gurnain Kaur Pasricha

On the ease of overstating the fiscal stimulus in the US, 2008-9
w15754 Christopher J. Nekarda
Valerie A. Ramey

Industry Evidence on the Effects of Government Spending
w15757 Marc P. Giannoni
Michael Woodford

Optimal Target Criteria for Stabilization Policy
w15714 Michael Woodford
Simple Analytics of the Government Expenditure Multiplier
w15662 Ricardo Reis
Interpreting the Unconventional U.S. Monetary Policy of 2007-09
w15645 Peter Temin
The Great Recession and the Great Depression
w15639 Carmen M. Reinhart
Kenneth S. Rogoff

Growth in a Time of Debt
2009
w15616 Raj Chetty
Bounds on Elasticities with Optimization Frictions: A Synthesis of Micro and Macro Evidence on Labor Supply
w15617 Raj Chetty
John N. Friedman
Tore Olsen
Luigi Pistaferri

Adjustment Costs, Firm Responses, and Micro vs. Macro Labor Supply Elasticities: Evidence from Danish Tax Records
w15582 Dirk Krueger
Fabrizio Perri

Public versus Private Risk Sharing
w15550 Francesco Caselli
Guy Michaels

Do Oil Windfalls Improve Living Standards? Evidence from Brazil
w15562 Joshua Aizenman
Nancy Marion

Using Inflation to Erode the U.S. Public Debt
w15565 Volker Wieland
Quantitative Easing: A Rationale and Some Evidence from Japan
w15524 Miguel Almunia
Agustín S. Bénétrix
Barry Eichengreen
Kevin H. O'Rourke
Gisela Rua

From Great Depression to Great Credit Crisis: Similarities, Differences and Lessons
w15526 Fatih Guvenen
Burhanettin Kuruscu
Serdar Ozkan

Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis
w15496 Robert E. Hall
By How Much Does GDP Rise if the Government Buys More Output?
w15505 Stephanie Schmitt-Grohe
Martin Uribe

On Quality Bias and Inflation Targets
w15514 Eric M. Leeper
Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle
w15464 Valerie A. Ramey
Identifying Government Spending Shocks: It's All in the Timing
w15421 Claudia R. Sahm
Matthew D. Shapiro
Joel B. Slemrod

Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications
w15421 Claudia R. Sahm
Matthew D. Shapiro
Joel B. Slemrod

Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications
w15405 Stavros Panageas
Optimal taxation in the presence of bailouts
w15407 Alan J. Auerbach
William G. Gale

Activist Fiscal Policy to Stabilize Economic Activity
w15394 Lawrence Christiano
Martin Eichenbaum
Sergio Rebelo

When is the government spending multiplier large?
w15400 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Power Fluctuations and Political Economy
w15357 Andrew K. Rose
Mark M. Spiegel

Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning
w15358 Andrew K. Rose
Mark M. Spiegel

Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure
w15362 Amir E. Khandani
Andrew W. Lo
Robert C. Merton

Systemic Risk and the Refinancing Ratchet Effect
w15369 Robert J. Barro
Charles J. Redlick

Macroeconomic Effects from Government Purchases and Taxes
w15343 Mathias Trabandt
Harald Uhlig

How Far Are We From The Slippery Slope? The Laffer Curve Revisited
w15321 Paola Giuliano
Antonio Spilimbergo

Growing Up in a Recession: Beliefs and the Macroeconomy
w15290 Martin S. Feldstein
Economic Conditions and U.S. National Security in the 1930s and Today
w15302 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Political Economy of Ramsey Taxation
w15302 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Political Economy of Ramsey Taxation
w15303 Carlo Favero
Francesco Giavazzi

How large are the effects of tax changes?
w15269 Eric M. Leeper
Anchoring Fiscal Expectations
w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
w15176 Russell Cooper
Hubert Kempf
Dan Peled

Insulation Impossible: Fiscal Spillovers in a Monetary Union
w15176 Russell Cooper
Hubert Kempf
Dan Peled

Insulation Impossible: Fiscal Spillovers in a Monetary Union
w15160 Eric M. Leeper
Michael Plante
Nora Traum

Dynamics of Fiscal Financing in the United States
w15170 John Geanakoplos
Stephen P. Zeldes

Market Valuation of Accrued Social Security Benefits
w15133 Troy Davig
Eric M. Leeper

Monetary-Fiscal Policy Interactions and Fiscal Stimulus
w15133 Troy Davig
Eric M. Leeper

Monetary-Fiscal Policy Interactions and Fiscal Stimulus
w15153 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Government Investment and Fiscal Stimulus in the Short and Long Runs
w15153 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Government Investment and Fiscal Stimulus in the Short and Long Runs
w15119 Philippe Aghion
David Hemous
Enisse Kharroubi

Credit Constraints, Cyclical Fiscal Policy and Industry Growth
w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
w15025 Roger Farmer
Carine Nourry
Alain Venditti

Debt, Deficits and Finite Horizons: The Stochastic Case
w15028 Farley Grubb
Land Policy: Founding Choices and Outcomes, 1781-1802
w15028 Farley Grubb
Land Policy: Founding Choices and Outcomes, 1781-1802
w14996 Harald Uhlig
Monetary policy in Europe vs the US: what explains the difference?
w14883 Andrew Atkeson
V. V. Chari
Patrick Kehoe

Sophisticated Monetary Policies
w14883 Andrew Atkeson
V. V. Chari
Patrick Kehoe

Sophisticated Monetary Policies
w14782 John F. Cogan
Tobias Cwik
John B. Taylor
Volker Wieland

New Keynesian versus Old Keynesian Government Spending Multipliers
w14753 Matthew D. Shapiro
Joel B. Slemrod

Did the 2008 Tax Rebates Stimulate Spending?
w14753 Matthew D. Shapiro
Joel B. Slemrod

Did the 2008 Tax Rebates Stimulate Spending?
w14722 Antonio Fatas
Ilian Mihov

The Euro and Fiscal Policy
w14722 Antonio Fatas
Ilian Mihov

The Euro and Fiscal Policy
w14725 Alan J. Auerbach
Implementing the New Fiscal Policy Activism
w14684 Martin S. Feldstein
Rethinking the Role of Fiscal Policy
w14684 Martin S. Feldstein
Rethinking the Role of Fiscal Policy
w14630 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight and Information Flows
w14653 Mariacristina De Nardi
Eric French
John Bailey Jones

Life Expectancy and Old Age Savings
2008
w14584 Tommaso Monacelli
Roberto Perotti

Fiscal Policy, Wealth Effects, and Markups
w14587 Carmen M. Reinhart
Kenneth S. Rogoff

Banking Crises: An Equal Opportunity Menace
w14556 Rafael Di Tella
Juan Dubra
Robert MacCulloch

A Resource Belief-Curse? Oil and Individualism
w14551 Andrew Mountford
Harald Uhlig

What are the Effects of Fiscal Policy Shocks?
w14551 Andrew Mountford
Harald Uhlig

What are the Effects of Fiscal Policy Shocks?
w14417 Ricardo J. Caballero
Pierre Yared

Future Rent-Seeking and Current Public Savings
w14391 Stefano Eusepi
Bruce Preston

Stabilizing Expectations under Monetary and Fiscal Policy Coordination
w14400 Richard Rogerson
Market Work, Home Work and Taxes: A Cross Country Analysis
w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Costly Financial Intermediation in Neoclassical Growth Theory
w14255 Manuel Amador
Pierre-Olivier Weill

Learning from Prices: Public Communication and Welfare
w14260 Andrew Atkeson
Patrick J. Kehoe

On the Need for a New Approach to Analyzing Monetary Policy
w14264 Antoni Estevadeordal
Alan M. Taylor

Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s
w14267 Farley Grubb
The Distribution of Congressional Spending During the American Revolution, 1775-1780: The Problem of Geographic Balance
w14191 Ethan Ilzetzki
Carlos A. Vegh

Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?
w14047 Marco Battaglini
Stephen Coate

Fiscal Policy over the Real Business Cycle: A Positive Theory
w14028 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight: Analytics and Econometrics
w13979 John Geanakoplos
Stephen P. Zeldes

Reforming Social Security with Progressive Personal Accounts
w13946 Carmen M. Reinhart
Kenneth S. Rogoff

The Forgotten History of Domestic Debt
w13911 Francesco Giavazzi
Michael McMahon

Policy Uncertainty and Precautionary Savings
w13882 Carmen M. Reinhart
Kenneth S. Rogoff

This Time is Different: A Panoramic View of Eight Centuries of Financial Crises
w13840 Ian Dew-Becker
Robert J. Gordon

The Role of Labor Market Changes in the Slowdown of European Productivity Growth
w13792 Selim Elekdag
Rene Lalonde
Douglas Laxton
Dirk Muir
Paolo Pesenti

Oil Price Movements and the Global Economy: A Model-Based Assessment
w13779 Ricardo J. Caballero
Pierre Yared

Inflating the Beast: Political Incentives Under Uncertainty
2007
w13677 Ramon Marimon
Javier Díaz-Giménez
Giorgia Giovannetti
Pedro Teles

Nominal Debt as a Burden on Monetary Policy
w13694 Sumit Agarwal
Chunlin Liu
Nicholas S. Souleles

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data
w13639 Guido Lorenzoni
Inefficient Credit Booms
w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow
w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow
w13629 Stefania Albanesi
Roc Armenter

Intertemporal Distortions in the Second best
w13635 Josephine M. Smith
John B. Taylor

The Long and the Short End of the Term Structure of Policy Rules
w13598 Edith Sand
Assaf Razin

The Political-Economy Positive Role of the Social Security System in Sustaining Immigration (But Not Vice Versa)
w13548 Christina D. Romer
David H. Romer

Do Tax Cuts Starve the Beast: The Effect of Tax Changes on Government Spending
w13425 Hess Chung
Eric M. Leeper

What Has Financed Government Debt?
w13425 Hess Chung
Eric M. Leeper

What Has Financed Government Debt?
w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete
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Capital Taxation and Ownership when Markets are Incomplete
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V. V. Chari
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On the Optimal Choice of a Monetary Policy Instrument
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Nonseparable Preferences and Optimal Social Security Systems
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Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
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The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
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Vadym Lepetyuk

Government Investment and the European Stability and Growth Pact
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Investment and the Cost of Capital: New Evidence from the Corporate Bond Market
w13164 Rafael Di Tella
Robert MacCulloch

Why Doesn't Capitalism Flow to Poor Countries?
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In Search of the Transmission Mechanism of Fiscal Policy
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Vasia Panousi

Revisiting the Supply-Side Effects of Government Spending Under Incomplete Markets
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Fabio Kanczuk

Debt Maturity: Is Long-Term Debt Optimal?
w13131 Laura Alfaro
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Nominal versus Indexed Debt: A Quantitative Horse Race
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Adam S. Posen

Do Markets Care Who Chairs the Central Bank?
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The Origins of State Capacity: Property Rights, Taxation, and Politics
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Mikhail Golosov
Aleh Tsyvinski

A Theory of Liquidity and Regulation of Financial Intermediation
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Eduardo M.R.A. Engel

Price Stickiness in Ss Models: New Interpretations of Old Results
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Jonathan D. Ostry

International Evidence on Fiscal Solvency: Is Fiscal Policy "Responsible"?
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Seigniorage
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Current Account Deficits in Rich Countries
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Sagiri Kitao
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Taxing Capital? Not a Bad Idea After All!
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Thomas F. Cooley
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The Farm, the City, and the Emergence of Social Security
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Francesco Giavazzi

Debt and the Effects of Fiscal Policy
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Bank Distress during the Great Depression: The Illiquidity-Insolvency Debate Revisited
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Correspondent Clearing and the Banking Panics of the Great Depression
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A Comment Concerning Deposit Insurance and Moral Hazard
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Douglas Laxton
Dirk Muir
Paolo Pesenti

Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis
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Capital Account Liberalization: Theory, Evidence, and Speculation
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Origins and Consequences of Child Labor Restrictions: A Macroeconomic Perspective
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Inflation Implications of Rising Government Debt
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Robert C. Merton
Zvi Bodie

A New Framework for Analyzing and Managing Macrofinancial Risks of an Economy
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Raj Chetty
Andrea Weber

Cash-on-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market
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Juan Dubra

Crime and Punishment in the "American Dream"
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Progressive Estate Taxation
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Bank Distress During the Great Contraction, 1929 to 1933, New Data from the Archives of the Board of Governors
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Monetary Intervention Mitigated Banking Panics During the Great Depression: Quasi-Experimental Evidence from the Federal Reserve District Border in Mississippi, 1929 to 1933
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William Troost

Monetary Intervention Mitigated Banking Panics During the Great Depression: Quasi-Experimental Evidence from the Federal Reserve District Border in Mississippi, 1929 to 1933
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Deposit Insurance and the Composition of Bank Suspensions in Developing Economies: Lessons from the State Deposit Insurance Experiments of the 1920S
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P. Marcelo Oviedo

Fiscal Policy and Macroeconomic Uncertainty in Developing Countries: The Tale of the Tormented Insurer
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Temporary Investment Tax Incentives: Theory with Evidence from Bonus Depreciation
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Matthew D. Shapiro

Temporary Investment Tax Incentives: Theory with Evidence from Bonus Depreciation
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Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy
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Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy
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Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy
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Can Central Banks Target Bond Prices?
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The Direct Substitution Between Government and Private Consumption in East Asia
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Reflections on One Year at the Bank of Israel
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Optimal Taxation of Entrepreneurial Capital with Private Information
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Martín Uribe

Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version
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Martín Uribe

Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version
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Toshihiro Ihori
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Sustainability, Debt Management, and Public Debt Policy in Japan
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Ricardo J. Caballero
Eduardo M.R.A. Engel

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
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Michael Golosov
Aleh Tsyvinski

Markets Versus Governments: Political Economy of Mechanisms
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Junko Shimizu

Stabilization of Effective Exchange Rates Under Common Currency Basket Systems
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Marcela Eslava

Pork Barrel Cycles
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Lee E. Ohanian

Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II
w12137 Filippo Occhino
Kim Oosterlinck
Eugene N. White

How Occupied France Financed Its Own Exploitation in World War II
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Michael Woodford

Optimal Inflation Targeting under Alternative Fiscal Regimes
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Justin Wolfers
Eric Zitzewitz

Partisan Impacts on the Economy: Evidence from Prediction Markets and Close Elections
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Discretionary Policy and Multiple Equilibria
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Edward Nelson

Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
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A Tax-Based Estimate of the Elasticity of Intertemporal Substitution
2005
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Allan Drazen

How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Cross-Section of Countries
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The Net Asset Position of the U.S. National Government, 1784-1802: Hamilton's Blessing or the Spoils of War?
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Eric M. Leeper

Are Countercyclical Fiscal Policies Counterproductive?
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Eric M. Leeper

Are Countercyclical Fiscal Policies Counterproductive?
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Eric M. Leeper

Generalizing the Taylor Principle
w11854 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model
w11854 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model
w11815 Jordi Gali
Tommaso Monacelli

Optimal Monetary and Fiscal Policy in a Currency Union
w11787 Roberto Chang
Linda Kaltani
Norman Loayza

Openness Can be Good for Growth: The Role of Policy Complementarities
w11792 Linda S. Goldberg
Michael W. Klein

Establishing Credibility: Evolving Perceptions of the European Central Bank
w11700 Alberto Alesina
Nichola Fuchs Schuendeln

Good bye Lenin (or not?): The Effect of Communism on People's Preferences
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Christopher Sleet
Sevin Yeltekin

Fiscal Hedging and the Yield Curve
w11630 Benjamin M. Friedman
Deficits and Debt in the Short and Long Run
w11646 Eric M. Leeper
Tack Yun

Monetary-Fiscal Policy Interactions and the Price Level: Background and Beyond
w11655 Russell Cooper
Hubert Kempf
Dan Peled

Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation
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Tullio Jappelli
Marco Pagano
Marina Benedetti

Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence
w11583 Hamid Faruqee
Douglas Laxton
Dirk Muir
Paolo Pesenti

Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing
w11578 Jordi Galí
J. David López-Salido
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Understanding the Effects of Government Spending on Consumption
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Alexei Onatski
John C. Williams
Noah Williams

Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models
w11523 Andrew T. Levin
Alexei Onatski
John C. Williams
Noah Williams

Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models
w11490 Mark Aguiar
Manuel Amador
Gita Gopinath

Efficient Fiscal Policy and Amplification
w11417 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model: Expanded Version
w11417 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model: Expanded Version
w11399 Alberto Alesina
George-Marios Angeletos

Corruption, Inequality and Fairness
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Fiscal Remedies for Japan's Slump
w11319 William O. Brown
Richard C. K. Burdekin
Marc D. Weidenmier

Volatility in an Era of Reduced Uncertainty: Lessons from Pax Britannica
w11297 Ricardo Reis
The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuation
w11208 Roland Benabou
Jean Tirole

Belief in a Just World and Redistributive Politics
w11212 Troy Davig
Eric M. Leeper

Fluctuating Macro Policies and the Fiscal Theory
w11185 Mikhail Golosov
Aleh Tsyvinski

Optimal Taxation with Endogenous Insurance Markets
w11151 Mitsuru Iwamara
Takeshi Kudo
Tsutomu Watanabe

Monetary and Fiscal Policy in a Liquidity Trap: The Japanese Experience 1999-2004
w11151 Mitsuru Iwamara
Takeshi Kudo
Tsutomu Watanabe

Monetary and Fiscal Policy in a Liquidity Trap: The Japanese Experience 1999-2004
w11122 George M. Constantinides
John B. Donaldson
Rajnish Mehra

Junior is Rich: Bequests as Consumption
w11105 Tim Robinson
Andrew Stone

Monetary Policy, Asset-Price Bubbles and the Zero Lower Bound
w11085 Allan Drazen
Marcela Eslava

Electoral Manipulation via Expenditure Composition: Theory and Evidence
w11067 Michelle Hanlon
Terry Shevlin

Bank-Tax Conformity for Corporate Income: An Introduction to the Issues
w11044 Juan Carlos Conesa
Dirk Krueger

On the Optimal Progressivity of the Income Tax Code
w11055 Matthew B. Canzoneri
Robert E. Cumby
Behzad T. Diba

How Do Monetary and Fiscal Policy Interact in the European Monetary Union?
w11030 Marco Bassetto
Thomas Sargent

Politics and Efficiency of Separating Capital and Ordinary Government Budgets
2004
w10988 Christian Broda
David E. Weinstein

Happy News from the Dismal Science: Reassessing the Japanese Fiscal Policy and Sustainability
w10967 Assaf Razin
Efraim Sadka

Aging and the Welfare State: The Role of Young and Old Voting Pivots
w10938 James Harrigan
Kenneth Kuttner

Lost Decade in Translation: Did the US Learn from Japan's Post-Bubble Mistakes?
w10926 Gadi Barlevy
The Cost of Business Cycles and the Benefits of Stabilization: A Survey
w10848 Willem H. Buiter
The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Should New Keynesian Central Bankers Pursue Price Stability?
w10838 Pierpaolo Benigno
Michael Woodford

Inflation Stabilization and Welfare: The Case of a Distorted Steady State
w10839 Pierpaolo Benigno
Michael Woodford

Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State
w10840 Gauti B. Eggertsson
Michael Woodford

Optimal Monetary and Fiscal Policy in a Liquidity Trap
w10787 Alan S. Blinder
Alan B. Krueger

What Does the Public Know about Economic Policy, and How Does It Know It?
w10792 Mikhail Golosov
Aleh Tsyvinski

Designing Optimal Disability Insurance: A Case for Asset Testing
w10780 Graciela L. Kaminsky
Carmen M. Reinhart
Carlos A. Vegh

When it Rains, it Pours: Procyclical Capital Flows and Macroeconomic Policies
w10784 David S. Johnson
Jonathan A. Parker
Nicholas S. Souleles

Household Expenditure and the Income Tax Rebates of 2001
w10724 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the U.S. Business Cycle
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Kent Smetters
Jan Walliser

Diminishing America's Demographic Dilemma Through Pre-Funding Social Security
w10539 Adi Brender
Allan Drazen

Political Budget Cycles in New versus Established Democracies
w10512 Hans Fehr
Sabine Jokisch
Laurence Kotlikoff

The Role of Immigration in Dealing with the Developed World's Demographic Transition
w10532 Ricardo J. Caballero
Arvind Krishnamurthy

Fiscal Policy and Financial Depth
w10495 William A. Brock
Steven N. Durlauf

Elements of a Theory of Design Limits to Optimal Policy
w10443 Olivier Blanchard
Jean Tirole

The Optimal Design of Unemployment Insurance and Employment Protection. A First Pass
w10415 Christopher L. House
Matthew D. Shapiro

Phased-In Tax Cuts and Economic Activity
w10430 Martin Eichenbaum
Jonas Fisher

Fiscal Policy in the Aftermath of 9/11
w10390 Carlo A. Favero
Francesco Giavazzi

Inflation Targeting and Debt: Lessons from Brazil
w10394 Francesco Giavazzi
Alessandro Missale

Public Debt Management in Brazil
w10310 Olivier Blanchard
The Economic Future of Europe
w10316 Edward C. Prescott
Why do Americans Work so Much More than Europeans?
w10282 Erik Hurst
Paul Willen

Social Security and Unsecured Debt
w10239 Russell Cooper
Hubert Kempf
Dan Peled

Is it is or is it Ain't my Obligation? Regional Debt in Monetary Unions
w10239 Russell Cooper
Hubert Kempf
Dan Peled

Is it is or is it Ain't my Obligation? Regional Debt in Monetary Unions
w10246 Philippe Aghion
Philippe Bacchetta
Abhijit Banerjee

Financial Development and the Instability of Open Economies
w10253 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Simple and Implementable Monetary and Fiscal Rules
2003
w10170 Torsten Persson
Consequences of Constitutions
w10149 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy Under Imperfect Competition
w10109 Susan Athey
Andrew Atkeson
Patrick Kehoe

The Optimal Degree of Discretion in Monetary Policy
w10110 Willem Buiter
Anne C. Sibert

Cross-Border Tax Externalities: Are Budget Deficits Too Small?
w10085 Katherine Grace Carman
Jagadeesh Gokhale
Laurence J. Kotlikoff

The Impact on Consumption and Saving of Current and Future Fiscal Policies
w10023 Alan J. Auerbach
Fiscal Policy, Past and Present
w9961 Bennett T. McCallum
Is the Fiscal Theory of the Price Level Learnable?
w9939 Marc P. Giannoni
Michael Woodford

Optimal Inflation Targeting Rules
w9929 Robert G. King
Alexander L. Wolman

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria
w9905 Pierpaolo Benigno
Michael Woodford

Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach
w9860 Michael D. Bordo
Pierre-Cyrille Hautcoeur

Why didn't France follow the British Stabilization after World War One?
w9772 Craig Burnside
Martin Eichenbaum
Jonas Fisher

Fiscal Shocks and Their Consequences
w9773 Jordi Gali
Roberto Perotti

Fiscal Policy and Monetary Integration in Europe
w9623 Willem H. Buiter
Deflation: Prevention and Cure
w9618 Joshua Aizenman
Reuven Glick

Military Expenditure, Threats, and Growth
w9587 Andrew Leigh
Justin Wolfers
Eric Zitzewitz

What Do Financial Markets Think of War in Iraq?
w9502 Alberto Alesina
George-Marios Angeletos

Fairness and Redistribution: U.S. versus Europe
w9506 Eric M. Leeper
Fiscal Policy and Inflation: Pondering the Imponderables
w9412 Kent A. Smetters
Trading with the Unborn: A New Perspective on Capital Income Taxation
w9419 Marc P. Giannoni
Michael Woodford

Optimal Interest-Rate Rules: I. General Theory
w9420 Marc P. Giannoni
Michael Woodford

Optimal Interest-Rate Rules: II. Applications
2002
w9367 Robert Dekle
The Deteriorating Fiscal Situation and an Aging Population
w9340 Wei Fan
Michelle J. White

Personal Bankruptcy and the Level of Entrepreneurial Activity
w9321 Anna J. Schwartz
Asset Price Inflation and Monetary Policy
w9306 Alan Auerbach
Is There a Role for Discretionary Fiscal Policy?
w9297 Stanley Fischer
Financial Crises and Reform of the International Financial System
w9274 Christina D. Romer
David H. Romer

The Evolution of Economic Understanding and Postwar Stabilization Policy
w9220 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy Under Sticky Prices
w9221 Martin Uribe
A Fiscal Theory of Sovereign Risk
w9132 Alan J. Auerbach
Kevin A. Hassett

Optimal Long-Run Fiscal Policy: Constraints, Preferences and the Resolution of Uncertainty
w9012 Alan J. Auerbach
The Bush Tax Cut and National Saving
w8930 Stanley Fischer
Ratna Sahay
Carlos A. Vegh

Modern Hyper- and High Inflations
w8912 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

Expectation Traps and Monetary Policy
w8903 Price V. Fishback
Shawn Kantor
John Joseph Wallis

Can the New Deal's Three R's Be Rehabilitated? A Program-by-Program, County-by-County Analysis
w8785 Laurence Ball
Robert Tchaidze

The Fed and the New Economy
2001
w8672 Matthew D. Shapiro
Joel Slemrod

Consumer Response to Tax Rebates
w8622 Ellen R. McGrattan
Edward C. Prescott

The Stock Market Crash of 1929: Irving Fisher Was Right!
w8289 Peter Blair Henry
Is Disinflation Good for the Stock Market?
w8305 Michael M. Hutchison
A Cure Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs
w8214 Torsten Persson
Do Political Institutions Shape Economic Policy?
w8259 Kent Smetters
The Equivalence of the Social Security's Trust Fund Portfolio Allocation and Capital Income Tax Policy
w8108 Price V. Fishback
William C. Horrace
Shawn Kantor

The Impact of New Deal Expenditures on Local Economic Activity: An Examination of Retail Sales, 1929-1939
w8139 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

How Severe is the Time Inconsistency Problem in Monetary Policy?
2000
w8033 Albert Ando
On the Japanese Economy and Japanese National Accounts
w7762 Douglas Holtz-Eakin
Mary E. Lovely
Mehmet S. Tosun

Generational Conflict, Human Capital Accumulation, and Economic Growth
w6767 Gerardo della Paolera
Alan M. Taylor

Economic Recovery from the Argentine Great Depression: Institutions, Expectations, and the Change of Macroeconomic Regime
w7662 Alan J. Auerbach
Daniel Feenberg

The Significance of Federal Taxes as Automatic Stabilizers
w7558 Austan Goolsbee
The Importance of Measurement Error in the Cost of Capital
w7459 Craig Burnside
Martin Eichenbaum
Jonas D.M. Fisher

Assessing the Effects of Fiscal Shocks
w7460 Francesco Giavazzi
Tullio Jappelli
Marco Pagano

Searching for Non-Linear Effects of Fiscal Policy: Evidence from Industrial and Developing Countries
1999
w7393 Bennett T. McCallum
Theoretical Issues Pertaining to Monetary Unions
w7394 Alan M. Taylor
Latin America and Foreign Capital in the Twentieth Century: Economics, Politics, and Institutional Change
w7269 Olivier Blanchard
Roberto Perotti

An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
w6283 Valerie A. Ramey
Matthew D. Shapiro

Costly Capital Reallocation and the Effects of Government Spending
w7088 Bennett T. McCallum
Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence
w7097 Torsten Persson
Guido Tabellini

Political Economics and Public Finance
w7103 Peter Diamond
Jean Geanakoplos

Social Security Investment in Equities I: Linear Case
w6991 Andrew B. Abel
The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation
w7036 Alan J. Auerbach
Kevin A. Hassett

Uncertainty and the Design of Long-Run Fiscal Policy
w6925 Guillermo A. Calvo
Carlos A. Vegh

Inflation Stabilization and BOP Crises in Developing Countries
w6948 Christina D. Romer
Changes in Business Cycles: Evidence and Explanations
1998
w6848 Torsten Persson
Guido Tabellini

The Size and Scope of Government: Comparative Politics with Rational Politicians
w6731 Austan Goolsbee
Taxes and the Quality of Capital
w6693 A. Lans Bovenberg
Johan J. Graafland
Ruud A. de Mooij

Tax Reform and the Dutch Labor Market: An Applied General Equilibrium Approach
w6555 William H. Branson
Jorge Braga de Macedo
Jurgen von Hagen

Macroeconomic Policy and Institutions During the Transition to European Union Membership
w6522 Willem H. Buiter
Notes on "A Code for Fiscal Stability"
w6456 Bennett T. McCallum
Indeterminacy, Bubbles, and the Fiscal Theory of Price Level Determination
w6470 Douglas W. Elmendorf
N. Gregory Mankiw

Government Debt
w6372 Adriana Arreaza
Bent E. Sorensen
Oved Yosha

Consumption Smoothing through Fiscal Policy in OECD and EU Countries
1997
w6329 Torsten Persson
Guido Tabellini

Political Economics and Macroeconomic Policy
w6336 Andres Velasco
A Model of Endogenous Fiscal Deficits and Delayed Fiscal Reforms
w6189 Patrick K. Asea
Stephen J. Turnovsky

Capital Income Taxation and Risk-Taking in a Small Open Economy
w6189 Patrick K. Asea
Stephen J. Turnovsky

Capital Income Taxation and Risk-Taking in a Small Open Economy
w6192 Austan Goolsbee
Investment Tax Incentives, Prices, and the Supply of Capital Goods
w6197 Robert J. Barro
Optimal Management of Indexed and Nominal Debt
w6046 Darrel Cohen
Kevin A. Hassett
R. Glenn Hubbard

Inflation and the User Cost of Capital: Does Inflation Still Matter?
w6048 Jerome Adda
Russell Cooper

Balladurette and Juppette: A Discrete Analysis of Scrapping Subsidies
w6048 Jerome Adda
Russell Cooper

Balladurette and Juppette: A Discrete Analysis of Scrapping Subsidies
w6000 Mark Gertler
Government Debt and Social Security in a Life-Cycle Economy
w5954 Casey B. Mulligan
Xavier X. Sala-i-Martin

The Optimum Quantity of Money: Theory and Evidence
w5892 Allan Drazen
Policy Signaling in the Open Economy: A Re-Examination
1996
w5851 Giancarlo Corsetti
Nouriel Roubini

Optimal Government Spending and Taxation in Endgenous Growth Models
w5817 Bengt Holmstrom
Jean Tirole

Private and Public Supply of Liquidity
w5730 Alberto Alesina
Roberto Perotti

Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects
w5611 J. Bradford De Long
Keynesianism, Pennsylvania Avenue Style: Some Economic Consequences of the Employment Act of 1946
w5573 Rudi Dornbusch
Debt and Monetary Policy: The Policy Issues
w5583 Roland Benabou
Unequal Societies
w5541 V. V. Chari
Lawrence J. Christiano
Martin Eichenbaum

Expectation Traps and Discretion
w5550 James M. Poterba
Do Budget Rules Work?
w5477 Douglas Staiger
James H. Stock
Mark W. Watson

How Precise are Estimates of the Natural Rate of Unemployment?
w5486 Harold L. Cole
Patrick J. Kehoe

Reputation Spillover Across Relationships with Enduring and Transient Beliefs: Reviving reputation Models of Debt
w5502 Robert J. Barro
Reflections on Ricardian Equivalence
w5512 Olivia S. Mitchell
Stephen P. Zeldes

"Social Security Privatization: A Structure for Analysis"
w5517 Barry Eichengreen
Jurgen von Hagen

Fiscal Policy and Monetary Union: Is There a Tradeoff between Federalism and Budgetary Restrictions?
w5469 Martin Feldstein
The Costs and Benefits of Going from Low Inflation to Price Stability
w5447 Gene M. Grossman
Elhanan Helpman

Intergenerational Redistribution with Short-Lived Governments
1995
w5338 Joshua Aizenman
Ricardo Hausmann

The Impact of Inflation on Budgetary Discipline
w5317 Gian Maria Milesi-Ferrett
Nouriel Roubini

Growth Effects of Income and Consumption Taxes: Positive and Normative Analysis
w5327 Robert J. Barro
Optimal Debt Management
w5205 Larry E. Jones
Rodolfo E. Manuelli

A Positive Model of Growth and Pollution Controls
w5171 Andrew A. Samwick
Tax Shelters and Passive Losses After the Tax Reform Act of 1986
w5189 Alan J. Auerbach
Kevin Hassett
Jan Sodersten

Taxation and Corporate Investment: The Impact of the 1991 Swedish Tax Reform
w5117 A. Lans Bovenberg
Lawrence H. Goulder

Costs of Environmentally Motivated Taxes in the Presence of Other Taxes:General Equilibrium Analyses
w5120 Willem H. Buiter
Kenneth M. Kletzer

Capital Mobility, Fiscal Policy and Growth under Self-Financing of Human Capital Formation
w5086 Enrique G. Mendoza
Linda L. Tesar

Supply-Side Economics in a Global Economy
w5087 Willem H. Buiter
Generational Accounts, Aggregate Saving and Intergenerational Distribution
1994
w4881 Nouriel Roubini
Gian Maria Milesi-Ferrett

Taxation and Endogenous Growth in Open Economies
w4882 Nouriel Roubini
Gian Maria Milesi-Ferrett

Optimal Taxation of Human and Physical Capital in Endogenous Capital Models
w4889 Mark Hooker
Michael Knetter

Unemployment Effects of Military Spending: Evidence from a Panel of States
w4864 Enrique G. Mendoza
Assaf Razin
Linda L. Tesar

Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption
w4824 Douglas Holtz-Eakin
Amy Ellen Schwartz

Infrastructure in a Structural Model of Economic Growth
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Philip Lane

Are Windfalls a Curse? A Non-Representative Agent Model of the Current Account and Fiscal Policy
w4761 Eric M. Leeper
Christopher A. Sims

Toward a Modern Macroeconomic Model Usable for Policy Analysis
w4768 Ricardo J. Caballero
Mohamad L. Hammour

On the Timing and Efficiency of Creative Destruction
w4694 Alessandra Casella
Barry Eichengreen

Can Foreign Aid Accelerate Stabilization?
w4709 Alan J. Auerbach
The U.S. Fiscal Problem: Where We Are, How We Got Here and Where We're Going
w4719 Andrew Atkeson
Christopher Phelan

Reconsidering the Costs of Business Cycles with Incomplete Markets
w4681 William Easterly
Robert King
Ross Levine
Sergio Rebelo

Policy, Technology Adoption, and Growth
w4636 Frederic S. Mishkin
Preventing Financial Crises: An International Perspective
1993
w4499 William Easterly
Sergio Rebelo

Fiscal Policy and Economic Growth: An Empirical Investigation
w4448 Allan Drazen
Paul R. Masson

Credibility of Policies versus Credibility of Policymakers
w4333 Raquel Fernandez
Richard Rogerson

Keeping People Out: Income Distribution, Zoning and the Quality of Public Education
w4337 Holger C. Wolf
Anti-Tax Revolutions and Symbolic Prosecutions
1992
w4220 Willem H. Buiter
Kenneth M. Kletzer

Permanent International Productivity Growth Differentials in an Integrated Global Economy
w4158 Raquel Fernandez
Richard Rogerson

Income Distribution, Communities and the Quality of Public Education: A Policy Analysis
w4172 Michael Dooley
Mark R. Stone

Endogenous Creditor Seniority and External Debt Values
w4144 Douglas Holtz-Eakin
Solow and the States: Capital Accumulation, Productivity and Economic Growth
w4122 Douglas Holtz-Eakin
Public-Sector Capital and the Productivity Puzzle
w4022 Benjamin M. Friedman
Learning From the Reagan Deficits
w3966 Martin Feldstein
The Budget and Trade Deficits Aren't Really Twins
w3968 Alberto Alesina
Philippe Weil

Menus of Linear Income Tax Schedules
1991
w3830 Alberto Alesina
Gerald D. Cohen
Nouriel Roubini

Macroeconomic Policy and Elections in OECD Democracies
w3844 Giuseppe Bertola
Allan Drazen

Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity
w3852 Alessandra Casella
Barry Eichengreen

Halting Inflation in Italy and France After World War II
w3753 David Altig
Steve J. Davis

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

Generated on Fri Dec 9 00:00:02 2016

 
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