NBER Papers in Economic Fluctuations and Growth

NBER Papers in Economic Fluctuations and Growth

browse older papers in this program

2008
w14514 Casey B. Mulligan
A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance

w14510 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model

w14509 Diego A. Comin
An Exploration of the Japanese Slowdown during the 1990s

w14499 Angus Deaton
Alan Heston

Understanding PPPs and PPP-based national accounts

w14480 Harold L. Cole
Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims

w14473 Markus K. Brunnermeier
Stefan Nagel
Lasse H. Pedersen

Carry Trades and Currency Crashes

w14463 Jens H.E. Christensen
Francis X. Diebold
Glenn D. Rudebusch

An Arbitrage-Free Generalized Nelson-Siegel Term Structure Model

w14452 Chris Edmond
Laura Veldkamp

Income Dispersion and Counter-Cyclical Markups

w14449 Quamrul H. Ashraf
Ashley Lester
David N. Weil

When Does Improving Health Raise GDP?

w14448 Louis Putterman
David N. Weil

Post-1500 Population Flows and the Long Run Determinants of Economic Growth and Inequality

w14446 Casey Mulligan
Luke Threinen

Market Responses to the Panic of 2008

w14437 Caroline M. Betts
Timothy J. Kehoe

Real Exchange Rate Movements and the Relative Price of Non-traded Goods

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

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

w14425 Gene M. Grossman
Esteban Rossi-Hansberg

External Economies and International Trade Redux

w14403 Raj Chetty
Emmanuel Saez

Optimal Taxation and Social Insurance with Endogenous Private Insurance

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

w14401 Takeo Hoshi
Anil K Kashyap

Will the TARP Succeed? Lessons From Japan

w14400 Richard Rogerson
Market Work, Home Work and Taxes: A Cross Country Analysis

w14399 Raj Chetty
Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods

w14398 Gary B. Gorton
The Subprime Panic

w14395 Timothy J. Kehoe
Kim J. Ruhl

Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate

w14392 Patrick J. Kehoe
Virgiliu Midrigan

Temporary Price Changes and the Real Effects of Monetary Policy

w14391 Stefano Eusepi
Bruce Preston

Stabilizing Expectations under Monetary and Fiscal Policy Coordination

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

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

w14386 Jessica Wachter
Can Time-Varying Risk of Rare Disasters Explain Aggregate Stock Market Volatility?

w14383 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monopoly Power and Endogenous Product Variety: Distortions and Remedies

w14362 Marc D. Weidenmier
Joseph H. Davis
Roger Aliaga-Diaz

Is Sugar Sweeter at the Pump? The Macroeconomic Impact of Brazil's Alternative Energy Program

w14292 M. Ayhan Kose
Christopher Otrok
Eswar S. Prasad

Global Business Cycles: Convergence or Decoupling?

w14369 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Raymond Owens III

Housing Externalities

w14363 William Easterly
Can the West Save Africa?

w14358 Gary B. Gorton
The Panic of 2007

w14357 William A. Brock
Steven N. Durlauf
Giacomo Rondina

Design Limits and Dynamic Policy Analysis

w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Intermediated Quantities and Returns

w14349 S. Boragan Aruoba
Francis X. Diebold
Chiara Scotti

Real-Time Measurement of Business Conditions

w14345 Mohammad Arzaghi
Ernst R. Berndt
James C. Davis
Alvin J. Silk

Economic Factors Underlying the Unbundling of Advertising Agency Services

w14342 Dongmei Li
Erica X. N. Li
Lu Zhang

Costly External Equity: Implications for Asset Pricing Anomalies

w14335 Kaivan Munshi
Mark Rosenzweig

The Efficacy of Parochial Politics: Caste, Commitment, and Competence in Indian Local Governments

w14329 Robert E. Hall
Alan B. Krueger

Wage Formation between Newly Hired Workers and Employers: Survey Evidence

w14323 Olivier Coibion
Yuriy Gorodnichenko

Strategic Interaction Among Heterogeneous Price-Setters In An Estimated DSGE Model

w14322 James H. Stock
Mark W. Watson

Phillips Curve Inflation Forecasts

w14313 V.V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

New Keynesian Models: Not Yet Useful for Policy Analysis

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

Business Volatility, Job Destruction, and Unemployment

w14299 Xavier Gabaix
Power Laws in Economics and Finance

w14294 Charles W. Calomiris
Stanley D. Longhofer
William Miles

The Foreclosure-House Price Nexus: Lessons from the 2007-2008 Housing Turmoil

w14282 Betsey Stevenson
Justin Wolfers

Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox

w14269 Francis X. Diebold
Kamil Yilmaz

Macroeconomic Volatility and Stock Market Volatility, Worldwide

w14266 Larry E. Jones
Alice Schoonbroodt
Michčle Tertilt

Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?

w14264 Antoni Estevadeordal
Alan M. Taylor

Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s

w14262 Pol Antrŕs
Esteban Rossi-Hansberg

Organizations and Trade

w14260 Andrew Atkeson
Patrick J. Kehoe

On the Need for a New Approach to Analyzing Monetary Policy

w14259 Olivier J. Blanchard
The State of Macro

w14255 Manuel Amador
Pierre-Olivier Weill

Learning from Prices: Public Communication and Welfare

w14248 Chinhui Juhn
Sebnem Kalemli-Ozcan
Belgi Turan

HIV and Fertility in Africa: First Evidence from Population Based Surveys

w14243 Lars Peter Hansen
Modeling the Long Run: Valuation in Dynamic Stochastic Economies

w14239 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Dynamics and Stability of Constitutions, Coalitions, and Clubs

w14228 Markus K. Brunnermeier
Filippos Papakonstantinou
Jonathan A. Parker

An Economic Model of the Planning Fallacy

w14223 James D. Hamilton
Daily Monetary Policy Shocks and the Delayed Response of New Home Sales

w14222 Julio J. Rotemberg
Liquidity Needs in Economies with Interconnected Financial Obligations

w14221 Edward E. Leamer
What's a Recession, Anyway?

w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship

w14215 Stephanie Schmitt-Grohe
Martin Uribe

What's News in Business Cycles

w14208 Miles S. Kimball
Matthew D. Shapiro

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

w14200 Gita Gopinath
Oleg Itskhoki

Frequency of Price Adjustment and Pass-through

w14190 Jean Boivin
Marc P. Giannoni
Benoît Mojon

How Has the Euro Changed the Monetary Transmission?

w14184 Yuriy Gorodnichenko
Endogenous information, menu costs and inflation persistence

w14181 Stefano Eusepi
Bruce Preston

Expectations, Learning and Business Cycle Fluctuations

w14171 Jordi Gali
Luca Gambetti

On the Sources of the Great Moderation

w14164 Bennett T. McCallum
Determinacy, Learnability, and Plausibility in Monetary Policy Analysis: Additional Results

w14163 Bennett T. McCallum
Reconsideration of the P-Bar Model of Gradual Price Adjustment

w14151 James D. Hamilton
Macroeconomics and ARCH

w14138 Benjamin F. Jones
The Knowledge Trap: Human Capital and Development Reconsidered

w14137 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger
Ian Rucker

Adjusted Estimates of Worker Flows and Job Openings in JOLTS

w14135 Fernando E. Alvarez
Francisco J. Buera
Robert E. Lucas
Jr.

Models of Idea Flows

w14133 Robert E. Lucas
Jr.

Ideas and Growth

w14132 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

Climate Change and Economic Growth: Evidence from the Last Half Century

w14130 David Y. Albouy
The Colonial Origins of Comparative Development: An Investigation of the Settler Mortality Data

w14128 Jess Benhabib
Shenghao Zhu

Age, Luck, and Inheritance

w14122 Elhanan Helpman
Oleg Itskhoki
Stephen Redding

Wages, Unemployment and Inequality with Heterogeneous Firms and Workers

w14114 Bruce Sacerdote
James Feyrer

Will the Stork Return to Europe and Japan? Understanding Fertility Within Developed Nations

w14112 Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Alberto Russo
Joseph E. Stiglitz

Financially Constrained Fluctuations in an Evolving Network Economy

w14097 Alessandra Fogli
Laura Veldkamp

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

w14093 Ryan D. Edwards
The Cost of Uncertain Life Span

w14092 Malin Adolfson
Stefan Laseen
Jesper Linde
Lars E.O. Svensson

Optimal Monetary Policy in an Operational Medium-Sized DSGE Model

w14063 Nir Jaimovich
Henry E. Siu

The Young, the Old, and the Restless: Demographics and Business Cycle Volatility

w14060 Laura Alfaro
Andrew Charlton
Fabio Kanczuk

Plant-Size Distribution and Cross-Country Income Differences

w14054 A. Craig Burnside
Martin S. Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

Do Peso Problems Explain the Returns to the Carry Trade?

w14052 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

The Macroeconomic Implications of Rising Wage Inequality in the United States

w14050 Dani Rodrik
Second-Best Institutions

w14048 Steven J. Davis
James A. Kahn

Interpreting the Great Moderation: Changes in the Volatility of Economic Activity at the Macro and Micro Levels

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

w14019 Michael D. Bordo
Michael J. Dueker
David C. Wheelock

Inflation, Monetary Policy and Stock Market Conditions

w14018 Erwin Diewert
Saeed Heravi
Mick Silver

Hedonic Imputation versus Time Dummy Hedonic Indexes

w14015 George-Marios Angeletos
Private Sunspots and Idiosyncratic Investor Sentiment

w14009 Frank R. Lichtenberg
Gautier Duflos

Pharmaceutical innovation and the longevity of Australians: a first look

w14001 Emi Nakamura
Jón Steinsson

Monetary Non-Neutrality in a Multi-Sector Menu Cost Model

w14000 Boyan Jovanovic
When Should Firms Invest in Old Capital?

w13990 Aurora Gómez Galvarriato
Jeffrey G. Williamson

Was It Prices, Productivity or Policy? The Timing and Pace of Latin American Industrialization after 1870

w13986 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Unemployment Trade-Off at Low Inflation

w13985 Valerie A. Ramey
Time Spent in Home Production in the 20th Century: New Estimates from Old Data

w13983 Ellen R. McGrattan
Edward C. Prescott

Technology Capital and the U.S. Current Account

w13982 Robert J. Gordon
Ian Dew-Becker

Controversies about the Rise of American Inequality: A Survey

w13979 John Geanakoplos
Stephen P. Zeldes

Reforming Social Security with Progressive Personal Accounts

w13970 Frederic S. Mishkin
Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?

w13889 Frederic S. Mishkin
Exchange Rate Pass-Through And Monetary Policy

w13940 Robert J. Barro
José F. Ursúa

Macroeconomic Crises since 1870

w13968 Edward Miguel
Sebastián M. Saiegh
Shanker Satyanath

National Cultures and Soccer Violence

w13967 Raj Chetty
Moral Hazard vs. Liquidity and Optimal Unemployment Insurance

w13955 Emmanuel Farhi
Jean Tirole

Competing Liquidities: Corporate Securities, Real Bonds and Bubbles

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

w13950 Robert W. Dimand
Barbara J. Spencer

Trevor Swan And The Neoclassical Growth Model

w13948 Frederic S. Mishkin
Globalization, Macroeconomic Performance, and Monetary Policy

w13943 John B. Taylor
John C. Williams

A Black Swan in the Money Market

w13931 Orazio Attanasio
Adriana Kugler
Costas Meghir

Training Disadvantaged Youth in Latin America: Evidence from a Randomized Trial

w13924 Aleksander Berentsen
Guido Menzio
Randall Wright

Inflation and Unemployment in the Long Run

w13920 John Haltiwanger
Stefano Scarpetta
Helena Schweiger

Assessing Job Flows Across Countries: The Role of Industry, Firm Size and Regulations

w13919 Matthias Doepke
Michčle Tertilt

Women's Liberation: What's in It for Men?

w13915 Daron Acemoglu
Davide Ticchi
Andrea Vindigni

A Theory of Military Dictatorships

w13912 Lance J. Lochner
Alexander Monge-Naranjo

The Nature of Credit Constraints and Human Capital

w13911 Francesco Giavazzi
Michael McMahon

Policy Uncertainty and Precautionary Savings

w13907 Roland Bénabou
Ideology

w13906 Andrea Ferrero
Mark Gertler
Lars E.O. Svensson

Current Account Dynamics and Monetary Policy

w13904 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Acquisition and Under-Diversification

w13897 Olivier Blanchard
Jordi Gali

Labor Markets and Monetary Policy: A New-Keynesian Model with Unemployment

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

w13892 Lars E.O. Svensson
Noah Williams

Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach

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

w13870 Trevon D. Logan
Are Engel Curve Estimates of CPI Bias Biased?

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

w13854 Yacine Aďt-Sahalia
Michael W. Brandt

Consumption and Portfolio Choice with Option-Implied State Prices

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

w13834 Charles I. Jones
Intermediate Goods, Weak Links, and Superstars: A Theory of Economic Development

w13829 Martin Eichenbaum
Nir Jaimovich
Sergio Rebelo

Reference Prices and Nominal Rigidities

w13819 Giuseppe Moscarini
Francis G. Vella

Occupational Mobility and the Business Cycle

w13814 Charles Engel
Jian Wang

International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities

w13805 Emmanuel Farhi
Xavier Gabaix

Rare Disasters and Exchange Rates

w13794 Cristina Arellano
Narayana R. Kocherlakota

Internal Debt Crises and Sovereign Defaults

w13789 Erik Hurst
The Retirement of a Consumption Puzzle

w13779 Ricardo J. Caballero
Pierre Yared

Inflating the Beast: Political Incentives Under Uncertainty

w13777 Michael W. L. Elsby
Ryan Michaels

Marginal Jobs, Heterogeneous Firms, & Unemployment Flows

w13772 Fernando Alvarez
Robert Shimer

Search and Rest Unemployment

w13769 J. Vernon Henderson
Anthony Venables

The Dynamics of City Formation

w13761 Carmen M. Reinhart
Kenneth S. Rogoff

Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison

w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship

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

w13751 Christina D. Romer
David H. Romer

The FOMC versus the Staff: Where Can Monetary Policymakers Add Value?

w13749 Timothy Cogley
Giorgio E. Primiceri
Thomas J. Sargent

Inflation-Gap Persistence in the U.S.

w13741 Marco Del Negro
Frank Schorfheide

Forming Priors for DSGE Models (and How it Affects the Assessment of Nominal Rigidities)

w13736 Jean Boivin
Marc Giannoni

Global Forces and Monetary Policy Effectiveness

w13731 Ariel Burstein
Christopher Kurz
Linda Tesar

Trade, Production Sharing, and the International Transmission of Business Cycles

w13724 Xavier Gabaix
Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance

w13720 Emmanuel Farhi
Iván Werning

Optimal Savings Distortions with Recursive Preferences


2007
w13710 Edward L. Glaeser
Giacomo A.M. Ponzetto

Did the Death of Distance Hurt Detroit and Help New York?

w13707 Matthias Doepke
Moshe Hazan
Yishay Maoz

The Baby Boom and World War II: A Macroeconomic Analysis

w13705 Luis Garicano
Esteban Rossi-Hansberg

Organizing Growth

w13704 Edward L. Glaeser
Joseph Gyourko

Arbitrage in Housing Markets

w13696 Edward L. Glaeser
The Economics Approach to Cities

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

w13692 Todd C. Neumann
Price V. Fishback
Shawn Kantor

The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal

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

w13689 Robert J. Barro
Jason Hwang

Religious Conversion in 40 Countries

w13685 John B. Taylor
The Explanatory Power of Monetary Policy Rules

w13682 John B. Taylor
Housing and Monetary Policy

w13680 Larry E. Jones
Alice Schoonbroodt

Complements versus Substitutes and Trends in Fertility Choice in Dynastic Models

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

w13662 Andres Rodriguez-Clare
Trade, Diffusion and the Gains from Openness

w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow

w13650 Dirk Krueger
Hanno Lustig
Fabrizio Perri

Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data

w13646 Florin Bilbiie
Fabio Ghironi
Marc J. Melitz

Endogenous Entry, Product Variety, and Business Cycles

w13639 Guido Lorenzoni
Inefficient Credit Booms

w13629 Stefania Albanesi
Roc Armenter

Intertemporal Distortions in the Second best

w13619 Eswar S. Prasad
Raghuram G. Rajan
Arvind Subramanian

Foreign Capital and Economic Growth

w13615 Ricardo Reis
Mark W. Watson

Relative Goods' Prices and Pure Inflation

w13614 Dora Gicheva
Justine Hastings
Sofia Villas-Boas

Revisiting the Income Effect: Gasoline Prices and Grocery Purchases

w13611 Jens H. E. Christensen
Francis X. Diebold
Glenn D. Rudebusch

The Affine Arbitrage-Free Class of: Nelson-Siegel Term Structure Models

w13674 Andreas Hornstein
Per Krusell
Giovanni L. Violante

Frictional Wage Dispersion in Search Models: A Quantitative Assessment

w13603 Gary D. Hansen
Selo Imrohoroglu

Business Cycle Fluctuations and the Life Cycle: How Important is On-The-Job Skill Accumulation?

w13592 Jeremy Greenwood
Karen A. Kopecky

Measuring the Welfare Gain from Personal Computers

w13591 Juan Carlos Conesa
Timothy J. Kehoe
Kim J. Ruhl

Modeling Great Depressions: The Depression in Finland in the 1990s

w13590 George-Marios Angeletos
Alessandro Pavan

Policy with Dispersed Information

w13588 Francis X. Diebold
Canlin Li
Vivian Z. Yue

Global Yield Curve Dynamics and Interactions: A Dynamic Nelson-Siegel Approach

w13555 YiLi Chien
Harold Cole
Hanno Lustig

A Multiplier Approach to Understanding the Macro Implications of Household Finance

w13584 Thomas Philippon
Yuliy Sannikov

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

w13580 Marvin Goodfriend
How the World Achieved Consensus on Monetary Policy

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

w13556 Argia M. Sbordone
Globalization and Inflation Dynamics: the Impact of Increased Competition

w13553 Robert J. Shiller
Understanding Recent Trends in House Prices and Home Ownership

w13550 Branko Milanovic
Peter H. Lindert
Jeffrey G. Williamson

Measuring Ancient Inequality

w13548 Christina D. Romer
David H. Romer

Do Tax Cuts Starve the Beast: The Effect of Tax Changes on Government Spending

w13545 Joana Naritomi
Rodrigo R. Soares
Juliano J. Assunçăo

Rent Seeking and the Unveiling of 'De Facto' Institutions: Development and Colonial Heritage within Brazil

w13542 Jordi Galí
Mark Gertler

Macroeconomic Modeling for Monetary Policy Evaluation

w13532 Peter N. Ireland
Scott Schuh

Productivity and U.S. Macroeconomic Performance: Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model

w13526 Flavio Cunha
James J. Heckman

The Evolution of Inequality, Heterogeneity and Uncertainty in Labor Earnings in the U.S. Economy

w13521 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Shocks, Structures or Monetary Policies? The Euro Area and US After 2001

w13518 Frederic S. Mishkin
Housing and the Monetary Transmission Mechanism

w13517 Benjamin Malin
Dirk Krueger
Felix Kubler

Computing Stochastic Dynamic Economic Models with a Large Number of State Variables: A Description and Application of a Smolyak-Collocation Method

w13515 Ellen McGrattan
Edward C. Prescott

Openness, Technology Capital, and Development

w13506 David G. Blanchflower
Chris Shadforth

Fear, Unemployment and Migration

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

w13502 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Two Reasons Why Money and Credit May be Useful in Monetary Policy

w13500 Paul Beaudry
Patrick Francois

The Economics of Inefficient Technology Use

w13499 Ellen R. McGrattan
Edward C. Prescott

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

w13487 Sumit Agarwal
John C. Driscoll
David Laibson

Optimal Mortgage Refinancing: A Closed Form Solution

w13483 Jonathan Heathcote
Fabrizio Perri

The International Diversification Puzzle Is Not As Bad As You Think

w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction

w13471 Martin S. Feldstein
Housing, Credit Markets and the Business Cycle

w13455 Ariel Burstein
Christian Hellwig

Prices and Market Shares in a Menu Cost Model

w13448 Andrew Ang
Sen Dong
Monika Piazzesi

No-Arbitrage Taylor Rules

w13444 Nir Jaimovich
Sergio Rebelo

News and Business Cycles in Open Economies

w13437 Thomas Philippon
Ariell Reshef

Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector

w13432 Gita Gopinath
Oleg Itskhoki
Roberto Rigobon

Currency Choice and Exchange Rate Pass-through

w13430 Xavier Gabaix
Linearity-Generating Processes: A Modelling Tool Yielding Closed Forms for Asset Prices

w13428 Edward E. Leamer
Housing IS the Business Cycle

w13425 Hess Chung
Eric M. Leeper

What Has Financed Government Debt?

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

w13416 Fernando E. Alvarez
Francesco Lippi

Financial Innovation and the Transactions Demand for Cash

w13414 Lars E.O. Svensson
Noah M. Williams

Bayesian and Adaptive Optimal Policy under Model Uncertainty

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

On the Welfare Implications of Financial Globalization without Financial Development

w13410 John H. Cochrane
Identification with Taylor Rules: A Critical Review

w13409 John H. Cochrane
Inflation Determination With Taylor Rules: A Critical Review

w13406 Roger E. A. Farmer
Aggregate Demand and Supply

w13404 Andreas Beyer
Roger E. A. Farmer
Jérôme Henry
Massimiliano Marcellino

Factor Analysis in a Model with Rational Expectations

w13398 Andrew Atkeson
V. V. Chari
Patrick J. Kehoe

On the Optimal Choice of a Monetary Policy Instrument

w13397 Jon Faust
Jonathan H. Wright

Comparing Greenbook and Reduced Form Forecasts using a Large Realtime Dataset

w13394 Fatih Guvenen
An Empirical Investigation of Labor Income Processes

w13392 Kerwin Kofi Charles
Erik Hurst
Nikolai Roussanov

Conspicuous Consumption and Race

w13391 Alan S. Blinder
John Morgan

Leadership in Groups: A Monetary Policy Experiment

w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete

w13385 Nicholas Bloom
The Impact of Uncertainty Shocks

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

w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

w13368 Olivier J. Blanchard
Jordi Gali

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

w13366 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Immobility and the Home Bias Puzzle

w13363 Igor Livshits
James MacGee
Michčle Tertilt

Accounting for the Rise in Consumer Bankruptcies

w13362 Borys Grochulski
Narayana Kocherlakota

Nonseparable Preferences and Optimal Social Security Systems

w13361 Ralph S.J Koijen
Otto Van Hemert
Stijn Van Nieuwerburgh

Mortgage Timing

w13357 A. Craig Burnside
Empirical Asset Pricing and Statistical Power in the Presence of Weak Risk Factors

w13354 Andrew B. Abel
Optimal Capital Income Taxation

w13353 Mark Aguiar
Manuel Amador
Gita Gopinath

Investment Cycles and Sovereign Debt Overhang

w13352 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment

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

Imputing Risk Tolerance from Survey Responses

w13334 Daron Acemoglu
Simon Johnson
James A. Robinson
Pierre Yared

Reevaluating the Modernization Hypothesis

w13328 Morten O. Ravn
Stephanie Schmitt-Grohé
Martín Uribe

Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate

w13326 Andrew Atkeson
Ariel Burstein

Innovation, firm dynamics, and international trade

w13325 Michael Woodford
How Important is Money in the Conduct of Monetary Policy?

w13319 David de la Croix
Matthias Doepke

To Segregate or to Integrate: Education Politics and Democracy

w13317 Angus Deaton
Income, Aging, Health and Wellbeing Around the World: Evidence from the Gallup World Poll

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

w13310 Tai-wei Hu
John Kennan
Neil Wallace

Coalition-Proof Trade and the Friedman Rule in the Lagos-Wright Model

w13307 Boyan Jovanovic
Investment Options and the Business Cycle

w13302 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Growth and Industry Age

w13299 Thorsten Beck
Ross Levine
Alexey Levkov

Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution

w13290 Chang-Tai Hsieh
Peter J. Klenow

Misallocation and Manufacturing TFP in China and India

w13287 Dale T. Mortensen
Island Matching

w13286 Robert E. Lucas
Jr.

Trade and the Diffusion of the Industrial Revolution

w13282 Long Chen
Lu Zhang

Neoclassical Factors

w13278 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Understanding the Forward Premium Puzzle: A Microstructure Approach

w13269 Jeffrey I. Bernstein
Theofanis P. Mamuneas

Irreversible Investment, Capital Costs and Productivity Growth: Implications for Telecommunications

w13264 Christina D. Romer
David H. Romer

The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks

w13260 Bruce Preston
Mauro Roca

Incomplete Markets, Heterogeneity and Macroeconomic Dynamics

w13259 Stefano Eusepi
Bruce Preston

Central Bank Communication and Expectations Stabilization

w13254 Fabio Braggion
Lawrence J. Christiano
Jorge Roldos

Optimal Monetary Policy in a 'Sudden Stop'

w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing

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

w13226 Steven J. Davis
John Haltiwanger
Ron S. Jarmin
C. J. Krizan
Javier Miranda
Alfred Nucci
Kristin Sandusky

Measuring the Dynamics of Young and Small Businesses: Integrating the Employer and Nonemployer Universes

w13224 Mark Huggett
Gustavo Ventura
Amir Yaron

Sources of Lifetime Inequality

w13221 David E. Bloom
David Canning
Guenther Fink
Jocelyn E. Finlay

Does Age Structure Forecast Economic Growth?

w13209 Kiminori Matsuyama
Aggregate Implications of Credit Market Imperfections

w13207 Marvin Goodfriend
Bennett T. McCallum

Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration

w13204 Veronica Guerrieri
Guido Lorenzoni

Liquidity and Trading Dynamics

w13200 Marco Bassetto
Vadym Lepetyuk

Government Investment and the European Stability and Growth Pact

w13199 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monetary Policy and Business Cycles with Endogenous Entry and Product Variety

w13198 Satyajit Chatterjee
Esteban Rossi-Hansberg

Spin-offs and the Market for Ideas

w13196 Ravi Bansal
Long-Run Risks and Financial Markets

w13191 Sumit Agarwal
John C. Driscoll
Xavier Gabaix
David Laibson

The Age of Reason: Financial Decisions Over the Lifecycle

w13184 Robert W. Fogel
Capitalism and Democracy in 2040: Forecasts and Speculations

w13180 Philippe Aghion
Alberto Alesina
Francesco Trebbi

Democracy, Technology, and Growth

w13179 Stefania Albanesi
Claudia Olivetti

Gender Roles and Technological Progress

w13174 Simon Gilchrist
Egon Zakrajsek

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

w13171 Randall Morck
Masao Nakamura

Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth

w13166 Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez

How Structural Are Structural Parameters?

w13162 Lena Edlund
Wojciech Kopczuk

Women, Wealth and Mobility

w13157 Francois Gourio
Anil K Kashyap

Investment Spikes: New Facts and a General Equilibrium Exploration

w13150 Torsten Persson
Guido Tabellini

The Growth Effect of Democracy: Is It Heterogenous and How Can It Be Estimated?

w13147 Frederic S. Mishkin
Inflation Dynamics

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

w13136 George-Marios Angeletos
Vasia Panousi

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

w13134 Kenneth D. West
Ka-fu Wong
Stanislav Anatolyev

Instrumental Variables Estimation of Heteroskedastic Linear Models Using All Lags of Instruments

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?

w13108 Ravi Bansal
Robert Dittmar
Dana Kiku

Cointegration and Consumption Risks in Asset Returns

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

w13104 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Financing Development: The Role of Information Costs

w13102 Benjamin F. Jones
Benjamin A. Olken

Hit or Miss? The Effect of Assassinations on Institutions and War

w13099 Marco Del Negro
Frank Schorfheide

Monetary Policy Analysis with Potentially Misspecified Models

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

w13086 Ram C. Acharya
Wolfgang Keller

Technology Transfer through Imports

w13085 Nicholas Bloom
Raffaella Sadun
John Van Reenen

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

w13084 Joshua Aizenman
Mark Spiegel

Takeoffs

w13077 Ricardo J. Caballero
Guido Lorenzoni

Persistent Appreciations and Overshooting: A Normative Analysis

w13076 Fernando A. Broner
Guido Lorenzoni
Sergio L. Schmukler

Why Do Emerging Economies Borrow Short Term?

w13073 Ariel Burstein
Alexander Monge-Naranjo

Foreign Know-How, Firm Control, and the Income of Developing Countries

w13067 William Adams
Liran Einav
Jonathan Levin

Liquidity Constraints and Imperfect Information in Subprime Lending

w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital

w13055 Joan R. Rosés
Kevin H. O'Rourke
Jeffrey G. Williamson

Globalization, Growth and Distribution in Spain 1500-1913

w13043 John M. Abowd
John Haltiwanger
Julia Lane
Kevin L. McKinney
Kristin Sandusky

Technology and the Demand for Skill:An Analysis of Within and Between Firm Differences

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

w13000 Michael Burda
Daniel S. Hamermesh
Philippe Weil

Total Work, Gender and Social Norms

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

w12965 Roger E.A. Farmer
Daniel F. Waggoner
Tao Zha

Understanding the New-Keynesian Model when Monetary Policy Switches Regimes

w12961 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Incomplete Cost Pass-Through Under Deep Habits

w12959 Emmanuel Farhi
Mikhail Golosov
Aleh Tsyvinski

A Theory of Liquidity and Regulation of Financial Intermediation

w12957 Monika Piazzesi
Martin Schneider

Inflation Illusion, Credit, and Asset Pricing

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

w12945 Ricardo J. Caballero
Eduardo M.R.A. Engel

Price Stickiness in Ss Models: New Interpretations of Old Results

w12940 Markus K. Brunnermeier
Christian Gollier
Jonathan A. Parker

Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns

w12925 Olivier Blanchard
Current Account Deficits in Rich Countries

w12917 Matthias Doepke
Fabrizio Zilibotti

Occupational Choice and the Spirit of Capitalism

w12916 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

The Returns to Currency Speculation in Emerging Markets

w12911 Abhijit Banerjee
Lakshmi Iyer
Rohini Somanathan

Public Action for Public Goods

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

Financial Integration, Financial Deepness and Global Imbalances

w12898 Guido Lorenzoni
News Shocks and Optimal Monetary Policy

w12896 Ricardo J. Caballero
Arvind Krishnamurthy

Collective Risk Management in a Flight to Quality Episode

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

w12888 Raquel Fernandez
Women, Work, and Culture

w12886 Diego Comin
Bart Hobijn

Implementing Technology

w12881 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Demand for Treasury Debt

w12880 Juan Carlos Conesa
Sagiri Kitao
Dirk Krueger

Taxing Capital? Not a Bad Idea After All!

w12876 Frederic S. Mishkin
Klaus Schmidt-Hebbel

Does Inflation Targeting Make a Difference?

w12861 Andrew Atkeson
Ariel Burstein

Pricing-to-Market in a Ricardian Model of International Trade

w12854 Elizabeth M. Caucutt
Thomas F. Cooley
Nezih Guner

The Farm, the City, and the Emergence of Social Security

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

w12841 Nicholas Bloom
Uncertainty and the Dynamics of R&D

w12833 Francesco Caselli
Nicola Gennaioli

Economics and Politics of Alternative Institutional Reforms

w12832 Eric A. Hanushek
Ludger Woessmann

The Role of School Improvement in Economic Development

w12824 Jean Boivin
Marc Giannoni
Ilian Mihov

Sticky Prices and Monetary Policy: Evidence from Disaggregated U.S. Data

w12822 Carlo Favero
Francesco Giavazzi

Debt and the Effects of Fiscal Policy


Generated Thu Dec 4 03:46:10 2008

 


 
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