Crises and Recoveries in an Empirical Model of Consumption Disasters

Emi Nakamura, Jón Steinsson, Robert Barro, José Ursúa

NBER Working Paper No. 15920
Issued in April 2010

---- Acknowledgements -----

We would like to thank Timothy Cogley, George Constantinides, Xavier Gabaix, Ralph Koijen, Martin Lettau, Frank Schorfheide, Efthimios Tsionas, Alwyn Young, Tao Zha and seminar participants at various institutions for helpful comments and conversations. Barro would like to thank the National Science Foundation for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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