NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Granular Origins of Aggregate Fluctuations

Xavier Gabaix

NBER Working Paper No. 15286
Issued in August 2009

---- Acknowledgements -----

For excellent research assistance I thank Francesco Franco, Jinsook Kim, Heiwai Tang, Ding Wu, and, particularly, Fernando Duarte. For helpful discussions I thank seminar participants at Berkeley, Boston University, Brown, Columbia, ECARE, the Federal Reserve Bank of Minneapolis, Harvard, Michigan, MIT, New York University, NBER, Princeton, Toulouse, U.C. Santa Barbara, Yale, the Econometric Society, the Stanford Institute for Theoretical Economics, and Daron Acemoglu, Kenneth Arrow, Robert Barsky, Susanto Basu, Roland BĂ©nabou, Olivier Blanchard, Ricardo Caballero, David Canning, Andrew Caplin, Thomas Chaney, V. V. Chari, Larry Christiano, Diego Comin, Don Davis, Bill Dupor, Steve Durlauf, Alex Edmans, Martin Eichenbaum, Eduardo Engel, John Fernald, Jesus Fernandez-Villaverde, Richard Frankel, Mark Gertler, Robert Hall, John Haltiwanger, Chad Jones, Boyan Jovanovic, Finn Kydland, David Laibson, Ellen McGrattan, Todd Mitton, Thomas Philippon, Robert Solow, Peter Temin, Jose Tessada and David Weinstein. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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