NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Archive of NBER Papers on Economic Fluctuations and Growth

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2015
w21838 Susanto Basu
Brent Bundick

Endogenous Volatility at the Zero Lower Bound: Implications for Stabilization Policy
w21830 Jeffrey Clemens
The Minimum Wage and the Great Recession: Evidence from the Current Population Survey
w21822 Eric M. Leeper
Fiscal Analysis is Darned Hard
w21814 Saten Kumar
Hassan Afrouzi
Olivier Coibion
Yuriy Gorodnichenko

Inflation Targeting Does Not Anchor Inflation Expectations: Evidence from Firms in New Zealand
w21816 Eric T. Swanson
Measuring the Effects of Unconventional Monetary Policy on Asset Prices
w21820 Vasco Cúrdia
Michael Woodford

Credit Frictions and Optimal Monetary Policy
w21784 Matteo Cacciatore
Romain Duval
Giuseppe Fiori
Fabio Ghironi

Short-Term Pain for Long-Term Gain: Market Deregulation and Monetary Policy in Small Open Economies
w21794 Edward L. Glaeser
Giacomo A. M. Ponzetto
Yimei Zou

Urban Networks: Connecting Markets, People, and Ideas
w21795 Carola Frydman
Dimitris Papanikolaou

In Search of Ideas: Technological Innovation and Executive Pay Inequality
w21799 George J. Hall
Thomas J. Sargent

A History of U.S. Debt Limits
w21803 Sydney C. Ludvigson
Sai Ma
Serena Ng

Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?
w21804 Andrea Eisfeldt
Andrew Demers

Rental Yields and HPA: The Returns to Single Family Rentals
w21770 Eric A. Hanushek
Jens Ruhose
Ludger Woessmann

Economic Gains for U.S. States from Educational Reform
w21772 Lorenz Kueng
Explaining Consumption Excess Sensitivity with Near-Rationality: Evidence from Large Predetermined Payments
w21774 Jonathan Eaton
Samuel S. Kortum
Brent Neiman

Obstfeld and Rogoff's International Macro Puzzles: A Quantitative Assessment
w21776 Ryan A. Decker
John Haltiwanger
Ron S. Jarmin
Javier Miranda

Where Has All The Skewness Gone? The Decline In High-Growth (Young) Firms In The U.S.
w21779 Guillaume Rocheteau
Pierre-Olivier Weill
Tsz-Nga Wong

Working through the Distribution: Money in the Short and Long Run
w21760 Pablo D. Fajgelbaum
Eduardo Morales
Juan Carlos Suárez Serrato
Owen M. Zidar

State Taxes and Spatial Misallocation
w21764 Robert E. Hall
Andreas I. Mueller

Wage Dispersion and Search Behavior: The Importance of Non-Wage Job Values
w21767 Stefano Giglio
Matteo Maggiori
Johannes Stroebel
Andreas Weber

Climate Change and Long-Run Discount Rates: Evidence from Real Estate
w21734 Charles Yuji Horioka
Akiko Terada-Hagiwara
Takaaki Nomoto

Explaining Foreign Holdings of Asia's Debt Securities: The Feldstein-Horioka Paradox Revisited
w21738 Pooyan Amir Ahmadi
Harald Uhlig

Sign Restrictions in Bayesian FaVARs with an Application to Monetary Policy Shocks
w21743 Mikhail Golosov
Guido Menzio

Agency Business Cycles
w21744 Lee E. Ohanian
Paulina Restrepo-Echavarria
Mark L. J. Wright

Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
w21717 Ingvild Almås
Alex Armand
Orazio Attanasio
Pedro Carneiro

Measuring and Changing Control: Women's Empowerment and Targeted Transfers
w21719 Julian Kozlowski
Laura Veldkamp
Venky Venkateswaran

The Tail that Wags the Economy: Beliefs and Persistent Stagnation
w21721 Jess Benhabib
Alberto Bisin
Mi Luo

Wealth Distribution and Social Mobility in the US: A Quantitative Approach
w21724 Sang Yoon Lee
Yongseok Shin
Donghoon Lee

The Option Value of Human Capital: Higher Education and Wage Inequality
w21732 David Berger
Joseph Vavra

Dynamics of the U.S. Price Distribution
w21699 Isaac Ehrlich
Jinyoung Kim

Immigration, Human Capital Formation and Endogenous Economic Growth
w21702 Rasmus Lentz
Nicolas Roys

Training and Search On the Job
w21686 Felipe S. Iachan
Plamen T. Nenov
Alp Simsek

The Choice Channel of Financial Innovation
w21667 David Berger
Veronica Guerrieri
Guido Lorenzoni
Joseph Vavra

House Prices and Consumer Spending
w21670 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Global Imbalances and Currency Wars at the ZLB.
w21672 Yaguang Zhang
Guo Fan
John Whalley

Economic Cycles in Ancient China
w21644 Erik G. Hurst
Benjamin W. Pugsley

Wealth, Tastes, and Entrepreneurial Choice
w21646 Gita Gopinath
The International Price System
w21624 James Feyrer
Erin T. Mansur
Bruce Sacerdote

Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution
w21626 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

Phasing Out the GSEs
w21630 Kristopher Gerardi
Kyle F. Herkenhoff
Lee E. Ohanian
Paul S. Willen

Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default
w21633 Scott R. Baker
Nicholas Bloom
Steven J. Davis

Measuring Economic Policy Uncertainty
w21634 Ross Levine
Chen Lin
Lai Wei

Insider Trading and Innovation
w21604 Christopher J. Ruhm
Health Effects of Economic Crises
w21614 Mariana García-Schmidt
Michael Woodford

Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis
w21581 Atif R. Mian
Amir Sufi
Emil Verner

Household Debt and Business Cycles Worldwide
w21599 Louis Phaneuf
Eric R. Sims
Jean Gardy Victor

Inflation, Output, and Markup Dynamics with Forward-Looking Wage and Price Setters
w21595 Diego A. Comin
Danial Lashkari
Martí Mestieri

Structural Change with Long-run Income and Price Effects
w21566 Steven N. Durlauf
Salvador Navarro
David A. Rivers

Model Uncertainty and the Effect of Shall-Issue Right-to-Carry Laws on Crime
w21567 Sumit Agarwal
Souphala Chomsisengphet
Neale Mahoney
Johannes Stroebel

Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?
w21569 Jeremy C. Stein
Adi Sunderam

Gradualism in Monetary Policy: A Time-Consistency Problem?
w21575 Mete Kilic
Jessica A. Wachter

Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility
w21558 Sebnem Kalemli-Ozcan
Bent Sorensen
Carolina Villegas-Sanchez
Vadym Volosovych
Sevcan Yesiltas

How to Construct Nationally Representative Firm Level data from the ORBIS Global Database
w21547 William D. Nordhaus
Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth
w21549 Andrew B. Abel
The Analytics of Investment, q, and Cash Flow
w21550 Andrew B. Abel
Crowding Out in Ricardian Economies
w21524 Emmanuel Farhi
Xavier Gabaix

Optimal Taxation with Behavioral Agents
w21532 Kyle F. Herkenhoff
Lee E. Ohanian

The Impact of Foreclosure Delay on U.S. Employment
w21538 Dirk Krueger
Alexander Ludwig

On the Optimal Provision of Social Insurance: Progressive Taxation versus Education Subsidies in General Equilibrium
w21539 Nir Jaimovich
Sergio Rebelo
Arlene Wong

Trading Down and the Business Cycle
w21498 Francesco Caselli
Miklós Koren
Milan Lisicky
Silvana Tenreyro

Diversification through Trade
w21506 Stelios Michalopoulos
Alireza Naghavi
Giovanni Prarolo

Islam, Inequality and Pre-Industrial Comparative Development
w21508 Björn Brügemann
Pieter Gautier
Guido Menzio

Intra Firm Bargaining and Shapley Values
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
w21476 James D. Hamilton
Ethan S. Harris
Jan Hatzius
Kenneth D. West

The Equilibrium Real Funds Rate: Past, Present and Future
w21480 Joel M. David
Ina Simonovska

Correlated Beliefs, Returns, and Stock Market Volatility
w21486 Òscar Jordà
Moritz Schularick
Alan M. Taylor

Leveraged Bubbles
w21492 Marina Halac
Pierre Yared

Fiscal Rules and Discretion in a World Economy
w21493 Guido Menzio
Nicholas Trachter

Equilibrium Price Dispersion Across and Within Stores
w21495 Robert Shimer
Iván Werning

Efficiency and Information Transmission in Bilateral Trading
w21446 Jean-Pierre Dubé
Günter J. Hitsch
Peter E. Rossi

Income and Wealth Effects on Private-Label Demand: Evidence From the Great Recession
w21444 Joseph E. Stiglitz
Towards a General Theory of Deep Downturns
w21445 Tarek Alexander Hassan
Thomas Mertens
Tony Zhang

Not so Disconnected: Exchange Rates and the Capital Stock
w21448 Iván Werning
Incomplete Markets and Aggregate Demand
w21449 Mila Getmansky
Peter A. Lee
Andrew W. Lo

Hedge Funds: A Dynamic Industry In Transition
w21453 Gita Gopinath
Sebnem Kalemli-Ozcan
Loukas Karabarbounis
Carolina Villegas-Sanchez

Capital Allocation and Productivity in South Europe
w21456 Cristina Arellano
Andrew Atkeson
Mark Wright

External and Public Debt Crises
w21458 Sari Kerr
William R. Kerr
Ramana Nanda

House Money and Entrepreneurship
w21466 Paul Beaudry
Patrick Fève
Alain Guay
Franck Portier

When is Nonfundamentalness in VARs a Real Problem? An Application to News Shocks
w21420 Julio Garín
Robert Lester
Eric Sims

On the Desirability of Nominal GDP Targeting
w21426 Olivier Blanchard
Christopher J. Erceg
Jesper Lindé

Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
w21427 Olivier Blanchard
Gustavo Adler
Irineu de Carvalho Filho

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?
w21430 Jordi Galí
Hysteresis and the European Unemployment Problem Revisited
w21433 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis
w21390 Orazio Attanasio
Arlen Guarín
Carlos Medina
Costas Meghir

Long Term Impacts of Vouchers for Vocational Training: Experimental Evidence for Colombia
w21392 Guido Ascari
Louis Phaneuf
Eric Sims

On the Welfare and Cyclical Implications of Moderate Trend Inflation
w21397 Anton Cheremukhin
Mikhail Golosov
Sergei Guriev
Aleh Tsyvinski

The Economy of People's Republic of China from 1953
w21363 Xavier Gabaix
Jean-Michel Lasry
Pierre-Louis Lions
Benjamin Moll

The Dynamics of Inequality
w21369 Jonathan Parker
Why Don't Households Smooth Consumption? Evidence from a 25 Million Dollar Experiment
w21376 Fatih Guvenen
Burhanettin Kuruscu
Satoshi Tanaka
David Wiczer

Multidimensional Skill Mismatch
w21377 James E. Anderson
Mario Larch
Yoto V. Yotov

Growth and Trade with Frictions: A Structural Estimation Framework
w21320 Manuel Adelino
Antoinette Schoar
Felipe Severino

Loan Originations and Defaults in the Mortgage Crisis: Further Evidence
w21322 Pascal Michaillat
Emmanuel Saez

The Optimal Use of Government Purchases for Stabilization
w21327 Joseph E. Stiglitz
The Measurement of Wealth: Recessions, Sustainability and Inequality
w21328 Fernando Alvarez
Gadi Barlevy

Mandatory Disclosure and Financial Contagion
w21334 Juliane Begenau
Monika Piazzesi
Martin Schneider

Banks' Risk Exposures
w21344 Daron Acemoglu
Ufuk Akcigit
William Kerr

Networks and the Macroeconomy: An Empirical Exploration
w21349 Wolfgang Keller
Carol H. Shiue
Xin Wang

Capital Markets in China and Britain, 18th and 19th Century: Evidence from Grain Prices
w21358 Casey B. Mulligan
Fiscal Policies and the Prices of Labor: A Comparison of the U.K. and U.S.
w21316 Atif Mian
Amir Sufi
Nasim Khoshkhou

Government Economic Policy, Sentiments, and Consumption
w21315 Orazio Attanasio
Peter Levell
Hamish Low
Virginia Sánchez-Marcos

Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply
w21318 Aviv Nevo
Arlene Wong

The Elasticity of Substitution Between Time and Market Goods: Evidence from the Great Recession
w21280 Jaume Ventura
Hans-Joachim Voth

Debt into Growth: How Sovereign Debt Accelerated the First Industrial Revolution
w21282 James H. Stock
Mark W. Watson

Core Inflation and Trend Inflation
w21284 Barbara M. Fraumeni
Michael S. Christian
Jon D. Samuels

The Accumulation of Human and Nonhuman Capital, Revisited
w21294 Jess Benhabib
Xuewen Liu
Pengfei Wang

Sentiments, Financial Markets, and Macroeconomic Fluctuations
w21295 Eric A. Hanushek
Jens Ruhose
Ludger Woessmann

Knowledge Capital and Aggregate Income Differences: Development Accounting for U.S. States
w21258 Robert C. Merton
Richard T. Thakor

Customers and Investors: A Framework for Understanding Financial Institutions
w21260 Nicola Gennaioli
Yueran Ma
Andrei Shleifer

Expectations and Investment
w21261 Fernando Ferreira
Joseph Gyourko

A New Look at the U.S. Foreclosure Crisis: Panel Data Evidence of Prime and Subprime Borrowers from 1997 to 2012
w21273 Marina Azzimonti
Partisan Conflict and Private Investment
w21228 Nicola Fuchs-Schuendeln
Tarek Alexander Hassan

Natural Experiments in Macroeconomics
w21235 John Haltiwanger
Henry Hyatt
Erika McEntarfer

Cyclical Reallocation of Workers Across Employers by Firm Size and Firm Wage
w21238 Mark Huggett
Greg Kaplan

How Large is the Stock Component of Human Capital?
w21241 Paul Beaudry
Dana Galizia
Franck Portier

Reviving the Limit Cycle View of Macroeconomic Fluctuations
w21244 Chun Chang
Kaiji Chen
Daniel F. Waggoner
Tao Zha

Trends and Cycles in China's Macroeconomy
w21247 Philippe Aghion
Ufuk Akcigit
Antonin Bergeaud
Richard Blundell
David Hémous

Innovation and Top Income Inequality
w21251 Dominick Bartelme
Yuriy Gorodnichenko

Linkages and Economic Development
w21252 Regis Barnichon
Andrew Figura

Declining Desire to Work and Downward Trends in Unemployment and Participation
w21220 Claudia R. Sahm
Matthew D. Shapiro
Joel Slemrod

Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration
w21199 Jae Song
David J. Price
Fatih Guvenen
Nicholas Bloom
Till von Wachter

Firming Up Inequality
w21201 Miguel Faria-e-Castro
Joseba Martinez
Thomas Philippon

Runs versus Lemons: Information Disclosure and Fiscal Capacity
w21203 Atif Mian
Amir Sufi

Household Debt and Defaults from 2000 to 2010: Facts from Credit Bureau Data
w21165 Francisco J. Buera
Joseph P. Kaboski
Richard Rogerson

Skill Biased Structural Change
w21173 Robert E. Hall
Ricardo Reis

Maintaining Central-Bank Financial Stability under New-Style Central Banking
w21179 Guillaume Rocheteau
Pierre-Olivier Weill
Tsz-Nga Wong

A Tractable Model of Monetary Exchange with Ex-post Heterogeneity
w21182 Ian Dew-Becker
Stefano Giglio
Anh Le
Marius Rodriguez

The Price of Variance Risk
w21142 Charles I. Jones
The Facts of Economic Growth
w21151 S. Borağan Aruoba
Allan Drazen
Razvan Vlaicu

A Structural Model of Electoral Accountability
w21154 Chang-Tai Hsieh
Enrico Moretti

Housing Constraints and Spatial Misallocation
w21155 Lilia Maliar
Serguei Maliar
John Taylor
Inna Tsener

A Tractable Framework for Analyzing a Class of Nonstationary Markov Models
w21112 Hanming Fang
Quanlin Gu
Wei Xiong
Li-An Zhou

Demystifying the Chinese Housing Boom
w21118 Pablo Kurlat
Liquidity as Social Expertise
w21100 Alan J. Auerbach
Yuriy Gorodnichenko

Effects of Fiscal Shocks in a Globalized World
w21105 Roland Bénabou
Davide Ticchi
Andrea Vindigni

Forbidden Fruits: The Political Economy of Science, Religion, and Growth
w21107 Francisco J. Buera
Joseph P. Kaboski
Yongseok Shin

Entrepreneurship and Financial Frictions: A Macro-Development Perspective
w21110 Fernando Alvarez
Francesco Lippi

Cash burns: An inventory model with a cash-credit choice
w21074 David M. Byrne
Stephen D. Oliner
Daniel E. Sichel

How Fast are Semiconductor Prices Falling?
w21076 Xavier Giroud
Holger M. Mueller

Firm Leverage and Unemployment during the Great Recession
w21079 Cemal Eren Arbatli
Quamrul H. Ashraf
Oded Galor

The Nature of Conflict
w21086 Nittai K. Bergman
Rajkamal Iyer
Richard T. Thakor

Financial Accelerator at Work: Evidence from Corn Fields
w21087 Klaus Desmet
Dávid Krisztián Nagy
Esteban Rossi-Hansberg

The Geography of Development: Evaluating Migration Restrictions and Coastal Flooding
w21091 Jeffrey D. Sachs
Seth G. Benzell
Guillermo LaGarda

Robots: Curse or Blessing? A Basic Framework
w21092 Olivier Coibion
Yuriy Gorodnichenko
Saten Kumar

How Do Firms Form Their Expectations? New Survey Evidence
w21064 Gian Luca Clementi
Berardino Palazzo

Investment and The Cross-Section of Equity Returns
w21065 John Kennan
Spatial Variation in Higher Education Financing and the Supply of College Graduates
w21069 Philippe Aghion
Ufuk Akcigit
Angus Deaton
Alexandra Roulet

Creative Destruction and Subjective Wellbeing
w21056 Francesco Bianchi
Rare Events, Financial Crises, and the Cross-Section of Asset Returns
w21052 Roland Bénabou
Davide Ticchi
Andrea Vindigni

Religion and Innovation
w21030 Christopher L. Foote
Richard W. Ryan

Labor Market Polarization Over the Business Cycle
w21035 Owen M. Zidar
Tax Cuts For Whom? Heterogeneous Effects of Income Tax Changes on Growth and Employment
w21037 Edward L. Glaeser
Charles G. Nathanson

An Extrapolative Model of House Price Dynamics
w21039 Alan M. Taylor
Credit, Financial Stability, and the Macroeconomy
w21016 Hang Bai
Kewei Hou
Howard Kung
Lu Zhang

The CAPM Strikes Back? An Investment Model with Disasters
w21018 Xinshen Diao
Margaret McMillan

Toward an Understanding of Economic Growth in Africa: A Re-Interpretation of the Lewis Model
w21021 Christina D. Romer
David H. Romer

New Evidence on the Impact of Financial Crises in Advanced Countries
w21025 Michael Gelman
Shachar Kariv
Matthew D. Shapiro
Dan Silverman
Steven Tadelis

How Individuals Smooth Spending: Evidence from the 2013 Government Shutdown Using Account Data
w21026 Juan Carlos Conesa
Timothy J. Kehoe

Gambling for Redemption and Self-Fulfilling Debt Crises
w21001 Andrew Caplin
John Leahy
Filip Matějka

Social Learning and Selective Attention
w21006 Chang-Tai Hsieh
Zheng (Michael) Song

Grasp the Large, Let Go of the Small: The Transformation of the State Sector in China
w21007 Erik Hurst
Benjamin J. Keys
Amit Seru
Joseph S. Vavra

Regional Redistribution Through the U.S. Mortgage Market
w21010 Andrei A. Levchenko
Nitya Pandalai-Nayar

TFP, News, and "Sentiments:" The International Transmission of Business Cycles
w20972 John Ameriks
Andrew Caplin
Minjoon Lee
Matthew D. Shapiro
Christopher Tonetti

The Wealth of Wealthholders
w20973 John Ameriks
Joseph S. Briggs
Andrew Caplin
Matthew D. Shapiro
Christopher Tonetti

Long-Term-Care Utility and Late-in-Life Saving
w20994 Jonathan Heathcote
Fabrizio Perri

Wealth and Volatility
w20957 Jennifer N. Carpenter
Fangzhou Lu
Robert F. Whitelaw

The Real Value of China's Stock Market
w20963 Stefano Giglio
Bryan T. Kelly
Seth Pruitt

Systemic Risk and the Macroeconomy: An Empirical Evaluation
w20926 Jerry Tsai
Jessica A. Wachter

Disaster Risk and its Implications for Asset Pricing
w20931 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Networks, Shocks, and Systemic Risk
w20933 Jaume Ventura
Alberto Martin

The International Transmission of Credit Bubbles: Theory and Policy
w20935 Dani Rodrik
Premature Deindustrialization
w20941 Seth G. Benzell
Laurence J. Kotlikoff
Guillermo LaGarda
Jeffrey D. Sachs

Robots Are Us: Some Economics of Human Replacement
w20939 Robert E. Hall
Sam Schulhofer-Wohl

Measuring Job-Finding Rates and Matching Efficiency with Heterogeneous Jobseekers
w20947 Atif R. Mian
Amir Sufi

Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005
w20898 Pranjul Bhandari
Jeffrey A. Frankel

Nominal GDP Targeting for Developing Countries
w20913 Fatih Guvenen
Fatih Karahan
Serdar Ozkan
Jae Song

What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?
w20919 David N. Weil
Capital and Wealth in the 21st Century
w20872 Alessandra Fogli
Fabrizio Perri

Macroeconomic Volatility and External Imbalances
w20874 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Credit Supply and the Housing Boom
w20881 Jesse Perla
Christopher Tonetti
Michael E. Waugh

Equilibrium Technology Diffusion, Trade, and Growth
w20882 Alisdair McKay
Emi Nakamura
Jón Steinsson

The Power of Forward Guidance Revisited
w20883 Christopher Phelan
Aldo Rustichini

Pareto Efficiency and Identity
w20884 Marcus Hagedorn
Iourii Manovskii
Kurt Mitman

The Impact of Unemployment Benefit Extensions on Employment: The 2014 Employment Miracle?
w20885 Sara Lowes
Nathan Nunn
James A. Robinson
Jonathan Weigel

Understanding Ethnic Identity in Africa: Evidence from the Implicit Association Test (IAT)
w20845 Bryan Hong
Lorenz Kueng
Mu-Jeung Yang

Estimating Management Practice Complementarity between Decentralization and Performance Pay
w20855 Ariel Burstein
Eduardo Morales
Jonathan Vogel

Accounting for Changes in Between-Group Inequality
w20856 Harold L. Cole
Jeremy Greenwood
Juan M. Sanchez

Why Doesn't Technology Flow from Rich to Poor Countries?
w20857 Rabah Arezki
Valerie A. Ramey
Liugang Sheng

News Shocks in Open Economies: Evidence from Giant Oil Discoveries
w20858 Rui Albuquerque
Martin Eichenbaum
Dimitris Papanikolaou
Sergio Rebelo

Long-run Bulls and Bears
w20862 Martin S. Feldstein
Ending the Euro Crisis?
w20863 Ross Levine
Chen Lin
Wensi Xie

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries
w20865 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Microeconomic Origins of Macroeconomic Tail Risks
w20848 Manuel Adelino
Antoinette Schoar
Felipe Severino

Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class
w20823 Monika Piazzesi
Martin Schneider
Johannes Stroebel

Segmented Housing Search
w20831 Roger E.A. Farmer
Global Sunspots and Asset Prices in a Monetary Economy
w20838 Patrick Kline
Melissa Tartari

Bounding the Labor Supply Responses to a Randomized Welfare Experiment: A Revealed Preference Approach
2014
w20803 Markus K. Brunnermeier
Yuliy Sannikov

International Credit Flows and Pecuniary Externalities
w20805 Anton Korinek
Damiano Sandri

Capital Controls or Macroprudential Regulation?
w20807 George-Marios Angeletos
Fabrice Collard
Harris Dellas

Quantifying Confidence
w20813 Boyan Jovanovic
Viktor Tsyrennikov

Trading on Sunspots
w20817 Fernando Alvarez
Francesco Lippi
Luigi Paciello

Monetary Shocks in Models with Inattentive Producers
w20819 Yuriy Gorodnichenko
Viacheslav Sheremirov
Oleksandr Talavera

Price Setting in Online Markets: Does IT Click?
w20786 Raquel Fernández
Alberto Martin

The Long and the Short of It: Sovereign Debt Crises and Debt Maturity
w20796 Lars E.O. Svensson
Forward Guidance
w20758 Martin Goetz
Luc Laeven
Ross Levine

Does the Geographic Expansion of Bank Assets Reduce Risk?
w20753 Alexander Ljungqvist
Michael Smolyansky

To Cut or Not to Cut? On the Impact of Corporate Taxes on Employment and Income
w20766 Daron Acemoglu
James A. Robinson

The Rise and Decline of General Laws of Capitalism
w20780 Mikhail Golosov
Aleh Tsyvinski
Nicolas Werquin

A Variational Approach to the Analysis of Tax Systems
w20769 Joel M. David
Espen Henriksen
Ina Simonovska

The Risky Capital of Emerging Markets
w20770 Supreet Kaur
Nominal Wage Rigidity in Village Labor Markets
w20737 Frederic S. Mishkin
Eugene N. White

Unprecedented Actions: The Federal Reserve's Response to the Global Financial Crisis in Historical Perspective
w20742 Charles I. Jones
Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality
w20741 Christiane Baumeister
James D. Hamilton

Sign Restrictions, Structural Vector Autoregressions, and Useful Prior Information
w20743 Daron Acemoglu
Ufuk Akcigit
Douglas Hanley
William Kerr

Transition to Clean Technology
w20744 Martin Lettau
Sydney C. Ludvigson
Sai Ma

Capital Share Risk in U.S. Asset Pricing
w20746 Julien Hugonnier
Benjamin Lester
Pierre-Olivier Weill

Heterogeneity in Decentralized Asset Markets
w20748 Gregory Colman
Dhaval Dave

Unemployment and Health Behaviors Over the Business Cycle: a Longitudinal View
w20750 Tatyana Deryugina
Solomon M. Hsiang

Does the Environment Still Matter? Daily Temperature and Income in the United States
w20751 Raphael Corbi
Elias Papaioannou
Paolo Surico

Regional Transfers
w20725 Francesco Bianchi
Howard Kung
Gonzalo Morales

Growth, Slowdowns, and Recoveries
w20730 Fiorella De Fiore
Harald Uhlig

Corporate Debt Structure and the Financial Crisis
w20710 Johannes Stroebel
Joseph Vavra

House Prices, Local Demand, and Retail Prices
w20707 Chiara Fratto
Harald Uhlig

Accounting for Post-Crisis Inflation and Employment: A Retro Analysis
w20715 Laurence Ball
Sandeep Mazumder

A Phillips Curve with Anchored Expectations and Short-Term Unemployment
w20719 Valerie A. Ramey
Sarah Zubairy

Government Spending Multipliers in Good Times and in Bad: Evidence from U.S. Historical Data
w20688 Hans A. Holter
Dirk Krueger
Serhiy Stepanchuk

How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?
w20691 Markus K. Brunnermeier
Alp Simsek
Wei Xiong

A Welfare Criterion for Models with Distorted Beliefs
w20698 Lisa B. Kahn
Erika McEntarfer

Employment Cyclicality and Firm Quality
w20703 Frédéric Boissay
Russell Cooper

The Collateral Trap
w20704 Michael Greenstone
Alexandre Mas
Hoai-Luu Nguyen

Do Credit Market Shocks affect the Real Economy? Quasi-Experimental Evidence from the Great Recession and 'Normal' Economic Times
w20682 Kewei Hou
Chen Xue
Lu Zhang

A Comparison of New Factor Models
w20684 Russell Cooper
Guozhong Zhu

Household Finance over the Life-Cycle: What does Education Contribute?
w20666 Robert B. Barsky
Susanto Basu
Keyoung Lee

Whither News Shocks?
w20665 Daron Acemoglu
Tarek A. Hassan
Ahmed Tahoun

The Power of the Street: Evidence from Egypt's Arab Spring
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
w20637 Charles I. Jones
Jihee Kim

A Schumpeterian Model of Top Income Inequality
w20642 Jess Benhabib
Feng Dong
Pengfei Wang

Adverse Selection and Self-fulfilling Business Cycles
w20650 Russell Cooper
Antoine Camous

Monetary Policy and Debt Fragility
w20610 Patrick Bolton
Neng Wang
Jinqiang Yang

Investment Under Uncertainty and the Value of Real and Financial Flexibility
w20611 Hess Chung
Edward Herbst
Michael T. Kiley

Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination
w20613 John H. Cochrane
Monetary Policy with Interest on Reserves
w20616 George Alessandria
Horag Choi
Joseph P. Kaboski
Virgiliu Midrigan

Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations
w20617 Makoto Nakajima
José-Víctor Ríos-Rull

Credit, Bankruptcy, and Aggregate Fluctuations
w20621 Lorenz Kueng
Mu-Jeung Yang
Bryan Hong

Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects
w20623 Veronica Guerrieri
Robert Shimer

Markets with Multidimensional Private Information
w20628 Martin Gervais
Nir Jaimovich
Henry E. Siu
Yaniv Yedid-Levi

What Should I Be When I Grow Up? Occupations and Unemployment over the Life Cycle
w20601 Fabian Kindermann
Dirk Krueger

High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk
w20606 Loukas Karabarbounis
Brent Neiman

Capital Depreciation and Labor Shares Around the World: Measurement and Implications
w20607 Luis Garicano
Esteban Rossi-Hansberg

Knowledge-based Hierarchies: Using Organizations to Understand the Economy
w20608 Benjamin Lester
Guillaume Rocheteau
Pierre-Olivier Weill

Competing for Order Flow in OTC Markets
w20568 Paul Beaudry
David A. Green
Benjamin M. Sand

In Search of Labor Demand
w20569 Alp Simsek
Andrei Shleifer
Matthew Rognlie

Investment Hangover and the Great Recession
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
w20575 Marco Del Negro
Raiden B. Hasegawa
Frank Schorfheide

Dynamic Prediction Pools: An Investigation of Financial Frictions and Forecasting Performance
w20580 Casey B. Mulligan
The New Full-time Employment Taxes
w20581 John Graham
Mark T. Leary
Michael R. Roberts

How Does Government Borrowing Affect Corporate Financing and Investment?
w20538 Simeon Alder
David Lagakos
Lee Ohanian

Competitive Pressure and the Decline of the Rust Belt: A Macroeconomic Analysis
w20547 John Laitner
Daniel Silverman
Dmitriy Stolyarov

Annuitized Wealth and Post-Retirement Saving
w20550 Paul Beaudry
Alban Moura
Franck Portier

Reexamining the Cyclical Behavior of the Relative Price of Investment
w20555 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Resurrecting the Role of the Product Market Wedge in Recessions
w20560 Fatih Guvenen
Greg Kaplan
Jae Song

The Glass Ceiling and The Paper Floor: Gender Differences among Top Earners, 1981-2012
w20561 Benjamin J. Keys
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Rates, Household Balance Sheets, and the Real Economy
w20517 Joseph E. Stiglitz
Reconstructing Macroeconomic Theory to Manage Economic Policy
w20442 Andrea L. Eisfeldt
Tyler Muir

Aggregate External Financing and Savings Waves
w20518 John Fernald
Mark M. Spiegel
Eric T. Swanson

Monetary Policy Effectiveness in China: Evidence from a FAVAR Model
w20502 Gene M. Grossman
Elhanan Helpman

Growth, Trade, and Inequality
w20501 Òscar Jordà
Moritz Schularick
Alan M. Taylor

The Great Mortgaging: Housing Finance, Crises, and Business Cycles
w20498 Fernando Leibovici
Michael E. Waugh

International Trade and Intertemporal Substitution
w20513 Stelios Michalopoulos
Elias Papaioannou

On the Ethnic Origins of African Development Chiefs and Pre-colonial Political Centralization
w20473 Cosmin Ilut
Matthias Kehrig
Martin Schneider

Slow to Hire, Quick to Fire: Employment Dynamics with Asymmetric Responses to News
w20474 Oded Galor
Marc Klemp

The Biocultural Origins of Human Capital Formation
w20477 Abhijit Banerjee
Esther Duflo
Richard Hornbeck

(Measured) Profit is Not Welfare: Evidence from an Experiment on Bundling Microcredit and Insurance
w20479 Steven J. Davis
John Haltiwanger

Labor Market Fluidity and Economic Performance
w20486 Eric T. Swanson
John C. Williams

Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates
w20490 Javier Bianchi
Saki Bigio

Banks, Liquidity Management and Monetary Policy
w20452 Ezra Oberfield
Devesh Raval

Micro Data and Macro Technology
w20457 Hyeok Jeong
Yong Kim
Iourii Manovskii

The Price of Experience
w20467 Richard Hornbeck
Daniel Keniston

Creative Destruction: Barriers to Urban Growth and the Great Boston Fire of 1872
w20423 Robert J. Gordon
A New Method of Estimating Potential Real GDP Growth: Implications for the Labor Market and the Debt/GDP Ratio
w20416 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Entry and Exit in OTC Derivatives Markets
w20426 Edward L. Glaeser
Charles G. Nathanson

Housing Bubbles
w20427 Lucia Foster
Cheryl Grim
John Haltiwanger

Reallocation in the Great Recession: Cleansing or Not?
w20437 Lorenz Kueng
Tax News: The Response of Household Spending
to Changes in Expected Taxes
w20438 Oded Galor
Ömer Özak

The Agricultural Origins of Time Preference
w20440 William Goetzmann
Elena Mamonova
Christophe Spaenjers

The Economics of Aesthetics and Three Centuries of Art Price Records
w20441 Ludwig Straub
Iván Werning

Positive Long Run Capital Taxation: Chamley-Judd Revisited
w20445 Anna Orlik
Laura Veldkamp

Understanding Uncertainty Shocks and the Role of Black Swans
w20390 Andrew Foerster
Juan Rubio-Ramírez
Daniel F. Waggoner
Tao Zha

Perturbation Methods for Markov-Switching DSGE Models
w20391 Peter Benczur
Cosmin L. Ilut

Evidence for Relational Contracts in Sovereign Bank Lending
w20404 Hugo A. Hopenhayn
On the Measure of Distortions
w20406 Yuriy Gorodnichenko
Oleksandr Talavera

Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-border Integration
w20377 Jianjun Miao
Pengfei Wang
Tao Zha

Liquidity Premia, Price-Rent Dynamics, and Business Cycles
w20379 John Komlos
Has Creative Destruction Become More Destructive?
w20370 Oliver D. Bunn
Robert J. Shiller

Changing Times, Changing Values: A Historical Analysis of Sectors within the US Stock Market 1872-2013
w20365 Kinda Hachem
Resource Allocation and Inefficiency in the Financial Sector
w20346 Helios Herrera
Guillermo Ordoñez
Christoph Trebesch

Political Booms, Financial Crises
w20351 Nathaniel Hendren
The Inequality Deflator: Interpersonal Comparisons without a Social Welfare Function
w20352 Solomon M. Hsiang
Amir S. Jina

The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth: Evidence From 6,700 Cyclones
w20324 Alan S. Blinder
Mark W. Watson

Presidents and the U.S. Economy: An Econometric Exploration
w20328 YiLi Chien
Harold L. Cole
Hanno Lustig

Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
w20335 Alan Moreira
Alexi Savov

The Macroeconomics of Shadow Banking
w20339 Jens Hilscher
Alon Raviv
Ricardo Reis

Inflating Away the Public Debt? An Empirical Assessment
w20340 Joel M. David
Hugo A. Hopenhayn
Venky Venkateswaran

Information, Misallocation and Aggregate Productivity
w20303 Frank Schorfheide
Dongho Song
Amir Yaron

Identifying Long-Run Risks: A Bayesian Mixed-Frequency Approach
w20304 Orazio Attanasio
Britta Augsburg

Holy Cows or Cash Cows?
w20307 Guido Matias Cortes
Nir Jaimovich
Christopher J. Nekarda
Henry E. Siu

The Micro and Macro of Disappearing Routine Jobs: A Flows Approach
w20314 Seunghoon Na
Stephanie Schmitt-Grohé
Martin Uribe
Vivian Z. Yue

The Twin Ds: Optimal Default and Devaluation
w20319 David Backus
Axelle Ferriere
Stanley Zin

Risk and Ambiguity in Models of Business Cycles
w20277 Mark Aguiar
Manuel Amador
Emmanuel Farhi
Gita Gopinath

Coordination and Crisis in Monetary Unions
w20287 Morris A. Davis
Stijn Van Nieuwerburgh

Housing, Finance and the Macroeconomy
w20291 Edward L. Glaeser
Joshua D. Gottlieb
Oren Ziv

Unhappy Cities
w20298 Lorenz Kueng
Evgeny Yakovlev

How Persistent Are Consumption Habits? Micro-Evidence from Russia
w20273 Kory Kroft
Fabian Lange
Matthew J. Notowidigdo
Lawrence F. Katz

Long-Term Unemployment and the Great Recession: The Role of Composition, Duration Dependence, and Non-Participation
w20260 David Neumark
Jennifer Muz

The "Business Climate" and Economic Inequality
w20255 Tri Vi Dang
Gary Gorton
Bengt Holmström
Guillermo Ordonez

Banks as Secret Keepers
w20263 S. Borağan Aruoba
Jesús Fernández-Villaverde

A Comparison of Programming Languages in Economics
w20254 Efraim Benmelech
Nittai Bergman
Anna Milanez
Vladimir Mukharlyamov

The Agglomeration of Bankruptcy
w20237 Christoph E. Boehm
Christopher L. House

Optimal Taylor Rules in New Keynesian Models
w20244 Angus Deaton
Bettina Aten

Trying to Understand the PPPs in ICP2011: Why are the Results so Different?
w20246 Marcin Kacperczyk
Jaromir B. Nosal
Luminita Stevens

Investor Sophistication and Capital Income Inequality
w20251 Raquel Fernández
Joyce Cheng Wong

Free to Leave? A Welfare Analysis of Divorce Regimes
w20238 Francesco Bianchi
Leonardo Melosi

Escaping the Great Recession
w20214 Matthias Doepke
Fabrizio Zilibotti

Parenting with Style: Altruism and Paternalism in Intergenerational Preference Transmission
w20215 Ian W.R. Martin
Robert S. Pindyck

Averting Catastrophes: The Strange Economics of Scylla and Charybdis
w20219 Mara P. Squicciarini
Nico Voigtländer

Human Capital and Industrialization: Evidence from the Age of Enlightenment
w20224 Mark Gertler
Peter Karadi

Monetary Policy Surprises, Credit Costs and Economic Activity
w20194 Francesco Bianchi
Cosmin Ilut

Monetary/Fiscal Policy Mix and Agents' Beliefs
w20205 Rafael La Porta
Andrei Shleifer

Informality and Development
w20165 Anil K. Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

How does macroprudential regulation change bank credit supply?
w20168 Lorenzo Caliendo
Fernando Parro
Esteban Rossi-Hansberg
Pierre-Daniel Sarte

The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy
w20175 David Berger
Joseph Vavra

Consumption Dynamics During Recessions
w20179 Roberto Perotti
Defense Government Spending Is Contractionary, Civilian Government Spending Is Expansionary
w20183 Robert E. Hall
Quantifying the Lasting Harm to the U.S. Economy from the Financial Crisis
w20185 Laurence M. Ball
Long-Term Damage from the Great Recession in OECD Countries
w20151 Emin Dinlersoz
Jeremy Greenwood
Henry Hyatt

Who do Unions Target? Unionization over the Life-Cycle of U.S. Businesses
w20152 Atif Mian
Amir Sufi

House Price Gains and U.S. Household Spending from 2002 to 2006
w20154 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

No-Bubble Condition: Model-free Tests in Housing Markets
w20155 Fernando Alvarez
Hervé Le Bihan
Francesco Lippi

Small and Large Price Changes and the Propagation of Monetary Shocks
w20157 Jess Benhabib
Alberto Bisin
Shenghao Zhu

The Wealth Distribution in Bewley Models with Investment Risk
w20158 Charles Yuji Horioka
Are Americans and Indians More Altruistic than the Japanese and Chinese? Evidence from a New International Survey of Bequest Plans
w20161 Kinda Hachem
Jing Cynthia Wu

Inflation Announcements and Social Dynamics
w20122 Christian Broda
Jonathan A. Parker

The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption
w20133 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

Very Long-Run Discount Rates
w20099 Paul Bergin
Ling Feng
Ching-Yi Lin

Financial Frictions and Firm Dynamics
w20100 Paul S. Willen
Evaluating Policies to Prevent another Crisis: An Economist's View
w20101 Paul Beaudry
Dana Galizia
Franck Portier

Reconciling Hayek's and Keynes Views of Recessions
w20102 Nicholas Bloom
Renata Lemos
Raffaella Sadun
Daniela Scur
John Van Reenen

The New Empirical Economics of Management
w20117 Jing Cynthia Wu
Fan Dora Xia

Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound
w20081 Francesco Bianchi
Cosmin L. Ilut
Martin Schneider

Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle
w20087 Christina D. Romer
David H. Romer

Transfer Payments and the Macroeconomy: The Effects of Social Security Benefit Changes, 1952-1991
w20098 Charles F. Manski
Communicating Uncertainty in Official Economic Statistics
w20064 Daron Acemoglu
Simon Johnson

Disease and Development: A Reply to Bloom, Canning, and Fink
w20066 Fredrik Andersson
John C. Haltiwanger
Mark J. Kutzbach
Henry O. Pollakowski
Daniel H. Weinberg

Job Displacement and the Duration of Joblessness: The Role of Spatial Mismatch
w20070 John Y. Campbell
Carolin Pflueger
Luis M. Viceira

Monetary Policy Drivers of Bond and Equity Risks
w20073 Greg Kaplan
Giovanni L. Violante
Justin Weidner

The Wealthy Hand-to-Mouth
w20080 Paul S. Willen
Lauren Lambie-Hanson
Lynn M. Fisher

The Role of Proximity in Foreclosure Externalities: Evidence from Condominiums
w20079 Dave Donaldson
Arnaud Costinot
Cory B. Smith

Evolving Comparative Advantage and the Impact of Climate Change in Agricultural Markets: Evidence from 1.7 Million Fields around the World
w20075 Tomas Philipson
Ralph Koijen
Harald Uhlig

Financial Health Economics
w20055 Marco Del Negro
Marc P. Giannoni
Frank Schorfheide

Inflation in the Great Recession and New Keynesian Models
w20058 Mariacristina De Nardi
Fang Yang

Bequests and Heterogeneity in Retirement Wealth
w20061 Julian di Giovanni
Andrei Levchenko
Isabelle Mejean

Firms, Destinations, and Aggregate Fluctuations
w20060 Daron Acemoglu
Localized and Biased Technologies: Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change
w20065 Raven Molloy
Christopher L. Smith
Abigail K. Wozniak

Declining Migration within the U.S.: The Role of the Labor Market
w20027 Gary B. Gorton
Andrew Metrick
Lei Xie

The Flight from Maturity
w20031 Jesper Bagger
Rasmus Lentz

An Empirical Model of Wage Dispersion with Sorting
w20050 Abhijit Banerjee
Xin Meng
Tommaso Porzio
Nancy Qian

Aggregate Fertility and Household Savings: A General Equilibrium Analysis using Micro Data
w20038 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Uncertainty, Financial Frictions, and Investment Dynamics
w20040 Lawrence J. Christiano
Martin S. Eichenbaum
Mathias Trabandt

Understanding the Great Recession
w20041 Simon Gilchrist
Benoît Mojon

Credit Risk in the Euro Area
w20043 Florian Scheuer
Alexander Wolitzky

Capital Taxation under Political Constraints
w20025 Vasco M. Carvalho
Nico Voigtländer

Input Diffusion and the Evolution of Production Networks
w20020 Casey B. Mulligan
The ACA: Some Unpleasant Welfare Arithmetic
w20010 Dolan Antenucci
Michael Cafarella
Margaret Levenstein
Christopher Ré
Matthew D. Shapiro

Using Social Media to Measure Labor Market Flows
w19988 Rasmus Lentz
Optimal Employment Contracts with Hidden Search
w19990 Guido Menzio
Nicholas Trachter

Large and Small Sellers: A Theory of Equilibrium Price Dispersion with Sequential Search
w19994 Oleg Itskhoki
Benjamin Moll

Optimal Development Policies with Financial Frictions
w19997 Francisco J. Buera
Roberto Fattal-Jaef
Yongseok Shin

Anatomy of a Credit Crunch: From Capital to Labor Markets
w20003 Ron Alquist
Olivier Coibion

Commodity-Price Comovement and Global Economic Activity
w20004 Daron Acemoglu
Suresh Naidu
Pascual Restrepo
James A. Robinson

Democracy Does Cause Growth
w19970 Anton Korinek
Alp Simsek

Liquidity Trap and Excessive Leverage
w19972 Harold L. Cole
Thomas F. Cooley

Rating Agencies
w19973 Pablo Fajgelbaum
Edouard Schaal
Mathieu Taschereau-Dumouchel

Uncertainty Traps
w19981 Jordi Gali
Luca Gambetti

The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence
w19951 Nicholas Bloom
Paul M. Romer
Stephen J. Terry
John Van Reenen

Trapped Factors and China's Impact on Global Growth
w19958 Roger Farmer
Asset Prices in a Lifecycle Economy
w19960 Jaume Ventura
Alberto Martin

Managing Credit Bubbles
w19966 Chang-Tai Hsieh
Benjamin A. Olken

The Missing "Missing Middle"
w19936 Casey B. Mulligan
The Economics of Work Schedules under the New Hours and Employment Taxes
w19934 Anusha Chari
Peter Blair Henry

Learning From the Doers: Developing Country Lessons for Advanced Economy Growth
w19941 Dennis Novy
Alan M. Taylor

Trade and Uncertainty
w19924 Alan M. Taylor
The Argentina Paradox: Microexplanations and Macropuzzles
w19917 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

Foreign Ownership of U.S. Safe Assets: Good or Bad?
w19926 Gregory Clark
Kevin Hjortshøj O'Rourke
Alan M. Taylor

The Growing Dependence of Britain on Trade during the Industrial Revolution
w19911 Alan J. Auerbach
Yuriy Gorodnichenko

Fiscal Multipliers in Japan
w19909 Juan Carlos Conesa
Timothy J. Kehoe

Is It Too Late to Bail Out the Troubled Countries in the Eurozone?
w19900 Francois Gourio
Leena Rudanko

Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?
w19899 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Optimal Tax Progressivity: An Analytical Framework
w19895 Robert J. Gordon
The Demise of U.S. Economic Growth: Restatement, Rebuttal, and Reflections
w19897 Michael Woodford
An Optimizing Neuroeconomic Model of Discrete Choice
w19885 Zhiguo He
Arvind Krishnamurthy

A Macroeconomic Framework for Quantifying Systemic Risk
w19888 Matthias Doepke
Michèle Tertilt

Does Female Empowerment Promote Economic Development?
w19893 Emi Nakamura
Jón Steinsson
Miao Liu

Are Chinese Growth and Inflation Too Smooth? Evidence from Engel Curves
w19894 Daron Acemoglu
Ufuk Akcigit
Murat Alp Celik

Young, Restless and Creative: Openness to Disruption and Creative Innovations
w19864 Fatih Guvenen
Greg Kaplan
Jae Song

How Risky Are Recessions for Top Earners?
w19869 Raquel Fernández
Joyce C. Wong

Divorce Risk, Wages, and Working Wives: A Quantitative Life-Cycle Analysis of Female Labor Force Participation
w19871 Robert E. Hall
High Discounts and High Unemployment
w19877 Greg Kaplan
Guido Menzio

The Morphology of Price Dispersion
w19862 Philip J. Cook
Kenneth Dodge
George Farkas
Roland G. Fryer
Jr
Jonathan Guryan
Jens Ludwig
Susan Mayer
Harold Pollack
Laurence Steinberg

The (Surprising) Efficacy of Academic and Behavioral Intervention with Disadvantaged Youth: Results from a Randomized Experiment in Chicago
w19831 Maxim Pinkovskiy
Xavier Sala-i-Martin

Lights, Camera,... Income!: Estimating Poverty Using National Accounts, Survey Means, and Lights
w19829 Jeremy Greenwood
Nezih Guner
Georgi Kocharkov
Cezar Santos

Marry Your Like: Assortative Mating and Income Inequality
w19830 John G. Fernald
Charles I. Jones

The Future of U.S. Economic Growth
w19837 Daron Acemoglu
David Autor
David Dorn
Gordon H. Hanson
Brendan Price

Return of the Solow Paradox? IT, Productivity, and Employment in U.S. Manufacturing
w19840 Anusha Chari
Peter Blair Henry

Two Tales of Adjustment: East Asian Lessons for European Growth
w19843 Raj Chetty
Nathaniel Hendren
Patrick Kline
Emmanuel Saez

Where is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States
w19844 Raj Chetty
Nathaniel Hendren
Patrick Kline
Emmanuel Saez
Nicholas Turner

Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility
w19850 Olivier Coibion
Yuriy Gorodnichenko
Marianna Kudlyak
John Mondragon

Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
w19854 Xavier Gabaix
Matteo Maggiori

International Liquidity and Exchange Rate Dynamics
w19856 Isaac Ehrlich
Yong Yin

Equilibrium Health Spending and Population Aging in a Model of Endogenous Growth - Will the GDP Share of Health Spending Keep Rising?
w19802 Alan Fernihough
Kevin Hjortshøj O'Rourke

Coal and the European Industrial Revolution
w19826 Scott R. Baker
Nicholas Bloom
Brandice Canes-Wrone
Steven J. Davis
Jonathan A. Rodden

Why Has U.S. Policy Uncertainty Risen Since 1960?
w19812 Bryan Kelly
Lubos Pastor
Pietro Veronesi

The Price of Political Uncertainty: Theory and Evidence from the Option Market
w19818 Daniel L. Greenwald
Martin Lettau
Sydney C. Ludvigson

Origins of Stock Market Fluctuations
w19821 Mark Bils
Yongsung Chang
Sun-Bin Kim

How Sticky Wages in Existing Jobs Can Affect Hiring
w19822 Casey Rothschild
Florian Scheuer

A Theory of Income Taxation under Multidimensional Skill Heterogeneity
w19792 Xu Cheng
Zhipeng Liao
Frank Schorfheide

Shrinkage Estimation of High-Dimensional Factor Models with Structural Instabilities
w19777 Pascal Michaillat
Emmanuel Saez

An Economical Business-Cycle Model
w19788 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Dynamic Dispersed Information and the Credit Spread Puzzle
w19789 Liana Fox
Irwin Garfinkel
Neeraj Kaushal
Jane Waldfogel
Christopher Wimer

Waging War on Poverty: Historical Trends in Poverty Using the Supplemental Poverty Measure
w19790 Joseph S. Vavra
Time-Varying Phillips Curves
2013
w19767 Martin Gervais
Nir Jaimovich
Henry E. Siu
Yaniv Yedid-Levi

Technological Learning and Labor Market Dynamics
w19768 Filipe R. Campante
David H. Yanagizawa-Drott

Does Religion Affect Economic Growth and Happiness? Evidence from Ramadan
w19771 Casey B. Mulligan
Trevor S. Gallen

Wedges, Wages, and Productivity under the Affordable Care Act
w19744 Carlos Garriga
Finn E. Kydland
Roman Sustek

Mortgages and Monetary Policy
w19749 Eric Sims
Jonathan Wolff

The Output and Welfare Effects of Government Spending Shocks over the Business Cycle
w19763 Ufuk Akcigit
Murat Alp Celik
Jeremy Greenwood

Buy, Keep or Sell: Economic Growth and the Market for Ideas
w19717 Mark Aguiar
Manuel Amador

Take the Short Route: How to Repay and Restructure Sovereign Debt with Multiple Maturities
w19728 Jennie Bai
Thomas Philippon
Alexi Savov

Have Financial Markets Become More Informative?
w19692 Timothy J. Kehoe
Jack M. Rossbach
Kim J. Ruhl

Using the New Products Margin to Predict the Industry-Level Impact of Trade Reform
w19693 S. Borağan Aruoba
Luigi Bocola
Frank Schorfheide

Assessing DSGE Model Nonlinearities
w19704 Javier Bianchi
Enrique G. Mendoza

Optimal Time-Consistent Macroprudential Policy
w19705 Pierre Collin-Dufresne
Michael Johannes
Lars A. Lochstoer

Parameter Learning in General Equilibrium: The Asset Pricing Implications
w19711 Aloísio Araújo
Susan Schommer
Michael Woodford

Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
w19712 Frank Schorfheide
Dongho Song

Real-Time Forecasting with a Mixed-Frequency VAR
w19714 Nicholas Bloom
Fluctuations in Uncertainty
w19715 Russell W. Cooper
Immo Schott

Capital Reallocation and Aggregate Productivity
w19676 Fernando Broner
Aitor Erce
Alberto Martin
Jaume Ventura

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects
w19678 Gabriel Chodorow-Reich
Loukas Karabarbounis

The Cyclicality of the Opportunity Cost of Employment
w19682 Jonathan Zinman
Consumer Credit: Too Much or Too Little (or Just Right)?
w19684 Efstathios Avdis
Jessica A. Wachter

Maximum likelihood estimation of the equity premium
w19686 Eric M. Leeper
Xuan Zhou

Inflation's Role in Optimal Monetary-Fiscal Policy
w19661 Carol H. Shiue
Human Capital and Fertility in Chinese Clans Before Modern Growth
w19662 David Dollar
Benjamin F. Jones

China: An Institutional View of an Unusual Macroeconomy
w19667 Fernando E. Alvarez
Francisco J. Buera
Robert E. Lucas
Jr.

Idea Flows, Economic Growth, and Trade
w19671 Andrés Fernández
Alessandro Rebucci
Martín Uribe

Are Capital Controls Prudential? An Empirical Investigation
w19657 William R. Kerr
Heterogeneous Technology Diffusion and Ricardian Trade Patterns
w19635 Alejandro Justiniano
Giorgio Primiceri
Andrea Tambalotti

The Effects of the Saving and Banking Glut on the U.S. Economy
w19640 Shigeru Fujita
Giuseppe Moscarini

Recall and Unemployment
w19638 Yuriy Gorodnichenko
Jae Song
Dmitriy Stolyarov

Macroeconomic Determinants of Retirement Timing
w19647 David S. Abrams
Ufuk Akcigit
Jillian Popadak

Patent Value and Citations: Creative Destruction or Strategic Disruption?
w19651 David Berger
Joseph S. Vavra

Volatility and Pass-through
w19630 Nancy L. Stokey
Wait-and-See: Investment Options under Policy Uncertainty
w19623 Hanno Lustig
Andreas Stathopoulos
Adrien Verdelhan

The Term Structure of Currency Carry Trade Risk Premia
w19628 Douglas Gollin
David Lagakos
Michael E. Waugh

The Agricultural Productivity Gap
w19603 Emilio Depetris-Chauvin
David N. Weil

Malaria and Early African Development: Evidence from the Sickle Cell Trait
w19589 John Sabelhaus
David Johnson
Stephen Ash
David Swanson
Thesia Garner
John Greenlees
Steve Henderson

Is the Consumer Expenditure Survey Representative by Income?
w19593 Frank R. Lichtenberg
The Impact of Biomedical Knowledge Accumulation on Mortality: A Bibliometric Analysis of Cancer Data
w19598 Olivier Coibion
Yuriy Gorodnichenko

Is The Phillips Curve Alive and Well After All? Inflation Expectations and the Missing Disinflation
w19600 Olivier Coibion
Yuriy Gorodnichenko
Dmitri Koustas

Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
w19561 Ángel Estrada
Jordi Galí
David López-Salido

Patterns of Convergence and Divergence in the Euro Area
w19565 Frank Schorfheide
Kenneth I. Wolpin

To Hold Out or Not to Hold Out
w19572 Anton Korinek
Jonathan Kreamer

The Redistributive Effects of Financial Deregulation
w19578 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

What Do We Learn from the Weather? The New Climate-Economy Literature
w19582 Caitlin Blair
Constructing a PCE-Weighted Consumer Price Index
w19537 Matthias Doepke
Martin Schneider

Money as a Unit of Account
w19541 Larry G. Epstein
Emmanuel Farhi
Tomasz Strzalecki

How Much Would You Pay to Resolve Long-Run Risk?
w19544 Garry Barrett
Peter Levell
Kevin Milligan

A Comparison of Micro and Macro Expenditure Measures Across Countries Using Differing Survey Methods
w19548 Cristina Arellano
Yan Bai

Linkages across Sovereign Debt Markets
w19553 Casey B. Mulligan
Uncertainty, Redistribution, and the Labor Market
w19556 Jeremy Greenwood
David Weiss

Mining Surplus: Modeling James A. Schmitz's Link Between Competition and Productivity
w19499 Marcus Hagedorn
Fatih Karahan
Iourii Manovskii
Kurt Mitman

Unemployment Benefits and Unemployment in the Great Recession: The Role of Macro Effects
w19516 Mark Aguiar
Manuel Amador
Emmanuel Farhi
Gita Gopinath

Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
w19491 Alexander M. Gelber
Damon Jones
Daniel W. Sacks

Earnings Adjustment Frictions: Evidence from the Social Security Earnings Test
w19504 Jessie Handbury
Tsutomu Watanabe
David E. Weinstein

How Much Do Official Price Indexes Tell Us about Inflation?
w19506 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

Sovereigns versus Banks: Credit, Crises, and Consequences
w19466 Bryan Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Firm Volatility in Granular Networks
w19467 Patrick Bolton
Xavier Freixas
Leonardo Gambacorta
Paolo Emilio Mistrulli

Relationship and Transaction Lending in a Crisis
w19470 Anmol Bhandari
David Evans
Mikhail Golosov
Thomas J. Sargent

Taxes, Debts, and Redistributions with Aggregate Shocks
w19473 Ufuk Akcigit
Douglas Hanley
Nicolas Serrano-Velarde

Back to Basics: Basic Research Spillovers, Innovation Policy and Growth
w19475 Scott R. Baker
Nicholas Bloom

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments
w19476 John H. Cochrane
The New-Keynesian Liquidity Trap
w19478 Michael W. Elsby
Donggyun Shin
Gary Solon

Wage Adjustment in the Great Recession
w19483 Jie Bai
Seema Jayachandran
Edmund J. Malesky
Benjamin A. Olken

Does Economic Growth Reduce Corruption? Theory and Evidence from Vietnam
w19443 Zhen Huo
José-Víctor Ríos-Rull

Paradox of Thrift Recessions
w19458 Steven J. Davis
John C. Haltiwanger
Kyle Handley
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity, Jobs, and Productivity
w19457 Roger E.A. Farmer
Vadim Khramov
Giovanni Nicolò

Solving and Estimating Indeterminate DSGE Models
w19455 Russell Cooper
Guozhong Zhu

Household Finance: Education, Permanent Income and Portfolio Choice
w19456 Kyle Jurado
Sydney C. Ludvigson
Serena Ng

Measuring Uncertainty
w19421 Hui Chen
Michael Michaux
Nikolai Roussanov

Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty
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
w19408 Jonathan N. Millar
Stephen D. Oliner
Daniel E. Sichel

Time-To-Plan Lags for Commercial Construction Projects
w19411 Paul Beaudry
Franck Portier

News Driven Business Cycles: Insights and Challenges
w19414 Òscar Jordà
Alan M. Taylor

The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
w19416 Ian Dew-Becker
Stefano Giglio

Asset Pricing in the Frequency Domain: Theory and Empirics
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
w19371 Robert Ready
Nikolai Roussanov
Colin Ward

Commodity Trade and the Carry Trade: a Tale of Two Countries
w19372 Francisco J. Buera
Joseph P. Kaboski
Min Qiang Zhao

The Rise of Services: the Role of Skills, Scale, and Female Labor Supply
w19391 Roger Farmer
The Stock Market Crash Really Did Cause the Great Recession
w19365 Casey B. Mulligan
Average Marginal Labor Income Tax Rates under the Affordable Care Act
w19366 Casey B. Mulligan
Is the Affordable Care Act Different from Romneycare? A Labor Economics Perspective
w19381 Nicolae Gârleanu
Stavros Panageas
Jianfeng Yu

Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion
w19382 Zheng Liu
Jianjun Miao
Tao Zha

Land Prices and Unemployment
w19386 Rong Hai
Dirk Krueger
Andrew Postlewaite

On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
w19388 Mark Aguiar
Manuel Amador

Sovereign Debt: A Review
w19390 Robert J. Gordon
The Phillips Curve is Alive and Well: Inflation and the NAIRU During the Slow Recovery
w19350 Eric Anderson
Benjamin A. Malin
Emi Nakamura
Duncan Simester
Jón Steinsson

Informational Rigidities and the Stickiness of Temporary Sales
w19361 Enrico Spolaore
Romain Wacziarg

Long-Term Barriers to Economic Development
w19360 David Backus
Mikhail Chernov
Stanley E. Zin

Identifying Taylor Rules in Macro-Finance Models
w19323 Dean Corbae
Erwan Quintin

Leverage and the Foreclosure Crisis
w19324 Russell Cooper
Guan Gong
Ping Yan

Costly Labor Adjustment: General Equilibrium Effects of China's Employment Regulations
w19327 Chong Wang
Neng Wang
Jinqiang Yang

Investment, Tobin's q, and Interest Rates
w19339 Timothy J. Kehoe
Kim J. Ruhl
Joseph B. Steinberg

Global Imbalances and Structural Change in the United States
w19343 Harald Uhlig
Sovereign Default Risk and Banks in a Monetary Union
w19345 Andreas Fuster
Paul S. Willen

Payment Size, Negative Equity, and Mortgage Default
w19278 Russell Cooper
Kalin Nikolov

Government Debt and Banking Fragility: The Spreading of Strategic Uncertainty
w19287 Christopher J. Ruhm
Recessions, Healthy No More?
w19288 Ricardo Reis
The Portuguese Slump and Crash and the Euro Crisis
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
w19313 Emmanuel Farhi
Iván Werning

A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
w19319 Chong Wang
Neng Wang
Jinqiang Yang

Optimal Consumption and Savings with Stochastic Income and Recursive Utility
w19318 Andrew Caplin
Mark Dean

Behavioral Implications of Rational Inattention with Shannon Entropy
w19267 Roger E.A. Farmer
The Natural Rate Hypothesis: An idea past its sell-by date
w19263 Yin-Chi Wang
Ping Wang

Barriers to Health and the Poverty Trap
w19265 Lawrence J. Christiano
Martin S. Eichenbaum
Mathias Trabandt

Unemployment and Business Cycles
w19246 Robin Greenwood
Samuel Hanson

Waves in Ship Prices and Investment
w19187 Ricardo Reis
Central Bank Design
w19248 S. Borağan Aruoba
Pablo Cuba-Borda
Frank Schorfheide

Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries
w19249 Thomas J. Holmes
Ellen R. McGrattan
Edward C. Prescott

Quid Pro Quo: Technology Capital Transfers for Market Access in China
w19255 Robert C. Feenstra
Robert Inklaar
Marcel Timmer

The Next Generation of the Penn World Table
w19258 Robert J. Barro
Environmental Protection, Rare Disasters, and Discount Rates
w19260 Emi Nakamura
Jón Steinsson

High Frequency Identification of Monetary Non-Neutrality: The Information Effect
w19228 Guido Lorenzoni
Ivan Werning

Slow Moving Debt Crises
w19230 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

The Network Origins of Large Economic Downturns
w19233 James Feyrer
Dimitra Politi
David N. Weil

The Cognitive Effects of Micronutrient Deficiency: Evidence from Salt Iodization in the United States
w19235 Florian Scheuer
Entrepreneurial Taxation with Endogenous Entry
w19238 Matthias Fleckenstein
Francis A. Longstaff
Hanno Lustig

Deflation Risk
w19204 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Measuring the Financial Soundness of U.S. Firms, 1926-2012
w19213 Dave Donaldson
Richard Hornbeck

Railroads and American Economic Growth: A "Market Access" Approach
w19207 Nicolas Petrosky-Nadeau
Lu Zhang

Unemployment Crises
w19208 Nicolas Petrosky-Nadeau
Lu Zhang

Solving the DMP Model Accurately
w19212 Lawrence E. Blume
William A. Brock
Steven N. Durlauf
Rajshri Jayaraman

Linear Social Interactions Models
w19217 Gian Luca Clementi
Berardino Palazzo

Entry, Exit, Firm Dynamics, and Aggregate Fluctuations
w19221 David K. Levine
Salvatore Modica

Conflict, Evolution, Hegemony, and the Power of the State
w19180 Ruediger Bachmann
Benjamin Born
Steffen Elstner
Christian Grimme

Time-Varying Business Volatility, Price Setting, and the Real Effects of Monetary Policy
w19184 Oliver D. Hart
Luigi Zingales

Liquidity and Inefficient Investment
w19192 V.V. Chari
Patrick J. Kehoe

Bailouts, Time Inconsistency, and Optimal Regulation
w19141 Matthias Doepke
Fabrizio Zilibotti

Culture, Entrepreneurship, and Growth
w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy
w19152 Edward P. Herbst
Frank Schorfheide

Sequential Monte Carlo Sampling for DSGE Models
w19134 Teresa C. Fort
John Haltiwanger
Ron S. Jarmin
Javier Miranda

How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size
w19117 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Finance and the Preservation of Wealth
w19118 Paul Beaudry
David A. Green
Benjamin M. Sand

Spatial Equilibrium with Unemployment and Wage Bargaining: Theory and Estimation
w19136 Loukas Karabarbounis
Brent Neiman

The Global Decline of the Labor Share
w19128 Tom Vogl
Differential Fertility, Human Capital, and Development
w19129 Mark Gertler
Nobuhiro Kiyotaki

Banking, Liquidity and Bank Runs in an Infinite-Horizon Economy
w19131 Claudia Olivetti
The Female Labor Force and Long-run Development: The American Experience in Comparative Perspective
w19132 Russell Cooper
Hubert Kempf

Deposit Insurance and Orderly Liquidation without Commitment: Can we Sleep Well?
w19099 Christopher J. Nekarda
Valerie A. Ramey

The Cyclical Behavior of the Price-Cost Markup
w19085 Kfir Eliaz
Rani Spiegler

Reference-Dependence and Labor-Market Fluctuations
w19094 Kenneth Burdett
Guido Menzio

(Q,S,s) Pricing Rules
w19062 Philippe Bacchetta
Eric van Wincoop

The Great Recession: A Self-Fulfilling Global Panic
w19067 Joshua Aizenman
Ilan Noy

Saving and the Long Shadow of Macroeconomic Shocks
w19047 Menzie D. Chinn
Laurent Ferrara
Valérie Mignon

Post-recession US Employment through the Lens of a Non-linear Okun's law
w19052 Diego A. Comin
Martí Mestieri

Technology Diffusion: Measurement, Causes and Consequences
w19058 Mark L. Egan
Casey B. Mulligan
Tomas J. Philipson

Adjusting National Accounting for Health: Is the Business Cycle Countercyclical?
w19024 Manmohan Agarwal
John Whalley

The 1991 Reforms, Indian Economic Growth, and Social Progress
w19025 Matteo Cacciatore
Giuseppe Fiori
Fabio Ghironi

Market Deregulation and Optimal Monetary Policy in a Monetary Union
w19035 Liran Einav
Jonathan D. Levin

The Data Revolution and Economic Analysis
w19037 Eugenio S. A. Bobenrieth
Juan R. A. Bobenrieth
Brian D. Wright

Bubble Troubles? Rational Storage, Mean Reversion and Runs in Commodity Prices.
w19008 George J. Hall
Thomas J. Sargent

Fiscal Discriminations in Three Wars
w19010 Diego A. Comin
Martí Mestieri Ferrer

If Technology Has Arrived Everywhere, Why has Income Diverged?
w19015 Loukas Karabarbounis
The Labor Wedge: MRS vs. MPN
w19022 Guillermo Ordonez
Sustainable Shadow Banking
w18989 Rüdiger Bachmann
Steffen Elstner

Firms' Optimism and Pessimism
w18990 Rüdiger Bachmann
Peter Zorn

What Drives Aggregate Investment?
w18992 Betsey Stevenson
Justin Wolfers

Subjective Well-Being and Income: Is There Any Evidence of Satiation?
w18996 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Growth and Structural Transformation
w19000 Alisdair McKay
Ricardo Reis

The Role of Automatic Stabilizers in the U.S. Business Cycle
w18978 Francesco Caselli
Massimo Morelli
Dominic Rohner

The Geography of Inter-State Resource Wars
w18979 Fatih Guvenen
Michelle Rendall

Women's Emancipation Through Education: A Macroeconomic Analysis
w18980 Elliot Anenberg
Patrick Bayer

Endogenous Sources of Volatility in Housing Markets: The Joint Buyer-Seller Problem
w18983 Martin M. Andreasen
Jesús Fernández-Villaverde
Juan Rubio-Ramírez

The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications
w18951 Christopher R. Knittel
Robert S. Pindyck

The Simple Economics of Commodity Price Speculation
w18953 Jeremy Greenwood
Philipp Kircher
Cezar Santos
Michèle Tertilt

An Equilibrium Model of the African HIV/AIDS Epidemic
w18954 S. Boraǧan Aruoba
Francis X. Diebold
Jeremy Nalewaik
Frank Schorfheide
Dongho Song

Improving GDP Measurement: A Measurement-Error Perspective
w18956 Jonathan Heathcote
Fabrizio Perri

Assessing International Efficiency
w18959 Garth Heutel
Christopher J. Ruhm

Air Pollution and Procyclical Mortality
w18937 Nicola Gennaioli
Rafael La Porta
Florencio Lopez de Silanes
Andrei Shleifer

Growth in Regions
w18941 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Household Leveraging and Deleveraging
w18944 John H. Cochrane
Finance: Function Matters, not Size.
w18946 Martin Čihák
Asli Demirgüč-Kunt
Erik Feyen
Ross Levine

Financial Development in 205 Economies, 1960 to 2010
w18949 Kerwin Kofi Charles
Erik Hurst
Matthew J. Notowidigdo

Housing Booms, Manufacturing Decline, and Labor Market Outcomes
w18928 David Neumark
Diego Grijalva

The Employment Effects of State Hiring Credits During and After the Great Recession
w18930 Gerald Carlino
Robert P. Inman

Local Deficits and Local Jobs: Can U.S. States Stabilize Their Own Economies?
w18899 Jesus Fernandez-Villaverde
Luis Garicano
Tano Santos

Political Credit Cycles: The Case of the Euro Zone
w18901 Paul Beaudry
David A. Green
Benjamin M. Sand

The Great Reversal in the Demand for Skill and Cognitive Tasks
w18912 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

The Market for OTC Derivatives
w18883 Marianne Bertrand
Adair Morse

Trickle-Down Consumption
w18890 Mary Amiti
David E. Weinstein

How Much do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data
w18870 Ulrich Mueller
Mark W. Watson

Measuring Uncertainty about Long-Run Prediction
w18862 Michael Kremer
Christopher M. Snyder

When Is Prevention More Profitable than Cure? The Impact of Time-Varying Consumer Heterogeneity
w18864 Marco Bassetto
Christopher Phelan

Speculative Runs on Interest Rate Pegs
w18868 Manuel Adelino
Antoinette Schoar
Felipe Severino

House Prices, Collateral and Self-Employment
w18877 Eric M. Leeper
Fiscal Limits and Monetary Policy
w18878 Jess Benhabib
Pengfei Wang
Yi Wen

Uncertainty and Sentiment-Driven Equilibria
w18855 Michael Tomz
Mark L. J. Wright

Empirical Research on Sovereign Debt and Default
w18854 Philippe Aghion
Peter Howitt
Susanne Prantl

Patent Rights, Product Market Reforms, and Innovation
w18860 Yuriy Gorodnichenko
Michael Weber

Are Sticky Prices Costly? Evidence From The Stock Market
w18821 Matthew Chambers
Carlos Garriga
Donald E. Schlagenhauf

Did Housing Policies Cause the Postwar Boom in Homeownership?
w18823 Harold L. Cole
Lee E. Ohanian

The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression
w18824 Philippe Aghion
Ufuk Akcigit
Peter Howitt

What Do We Learn From Schumpeterian Growth Theory?
w18825 Edward L. Glaeser
A Nation Of Gamblers: Real Estate Speculation And American History
w18826 Pascal Michaillat
Emmanuel Saez

Aggregate Demand, Idle Time, and Unemployment
w18829 Ariel Burstein
Gita Gopinath

International Prices and Exchange Rates
w18808 Wolfgang Keller
Carol H. Shiue

The Link Between Fundamentals and Proximate Factors in Development
w18800 George-Marios Angeletos
Fabrice Collard
Harris Dellas
Behzad Diba

Optimal Public Debt Management and Liquidity Provision
w18806 Jordi Galí
Monetary Policy and Rational Asset Price Bubbles
w18774 Urban Jermann
A Production-Based Model for the Term Structure
w18777 Greg Kaplan
Guido Menzio

Shopping Externalities and Self-Fulfilling Unemployment Fluctuations
w18779 Olivier J. Blanchard
Daniel Leigh

Growth Forecast Errors and Fiscal Multipliers
w18782 Brant Abbott
Giovanni Gallipoli
Costas Meghir
Giovanni L. Violante

Education Policy and Intergenerational Transfers in Equilibrium
w18794 Garth Heutel
Carolyn Fischer

Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change
w18792 Emmanuel Farhi
Iván Werning

Estate Taxation with Altruism Heterogeneity
w18797 Robert E. Hall
Fiscal Stability of High-Debt Nations under Volatile Economic Conditions
w18747 Wojciech Kopczuk
Incentive Effects of Inheritances and Optimal Estate Taxation
w18769 Michael T. Owyang
Valerie A. Ramey
Sarah Zubairy

Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data
w18751 Kathryn M.E. Dominguez
Matthew D. Shapiro

Forecasting the Recovery from the Great Recession: Is This Time Different?
w18760 Ellen R. McGrattan
Edward C. Prescott

On Financing Retirement with an Aging Population
w18761 Peter A. Diamond
Cyclical Unemployment, Structural Unemployment
w18765 Quamrul Ashraf
Stelios Michalopoulos

Climatic Fluctuations and the Diffusion of Agriculture
w18766 Jaromir Nosal
Guillermo Ordoñez

Uncertainty as Commitment
w18759 Robert J. Barro
Sanjay P. Misra

Gold Returns
w18727 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Systemic Risk and Stability in Financial Networks
w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
w18730 Ricardo Reis
The Mystique Surrounding the Central Bank's Balance Sheet, Applied to the European Crisis
w18732 Gary B. Gorton
Guillermo Ordoñez

The Supply and Demand for Safe Assets
w18738 Quamrul Ashraf
Oded Galor

Genetic Diversity and the Origins of Cultural Fragmentation
w18746 Christina D. Romer
David H. Romer

The Missing Transmission Mechanism in the Monetary Explanation of the Great Depression
w18705 Emi Nakamura
Jón Steinsson

Price Rigidity: Microeconomic Evidence and Macroeconomic Implications
w18716 John B. Taylor
International Monetary Coordination and the Great Deviation
w18718 Bruce D. Meyer
James X. Sullivan

Winning the War: Poverty from the Great Society to the Great Recession
w18667 Karl E. Case
John M. Quigley
Robert J. Shiller

Wealth Effects Revisited: 1975-2012
w18682 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Risk Shocks
w18688 Lawrence Christiano
Daisuke Ikeda

Leverage Restrictions in a Business Cycle Model
w18693 Chang-Tai Hsieh
Erik Hurst
Charles I. Jones
Peter J. Klenow

The Allocation of Talent and U.S. Economic Growth
w18666 Nicola Pavoni
Ofer Setty
Giovanni L. Violante

Search and Work in Optimal Welfare Programs
w18668 Laurence M. Ball
Daniel Leigh
Prakash Loungani

Okun's Law: Fit at Fifty?
w18669 Annamaria Lusardi
Pierre-Carl Michaud
Olivia S. Mitchell

Optimal Financial Knowledge and Wealth Inequality
w18671 Leonid Kogan
Dimitris Papanikolaou
Noah Stoffman

Winners and Losers: Creative Destruction and the Stock Market
w18675 Olivier Jeanne
Anton Korinek

Macroprudential Regulation Versus Mopping Up After the Crash
w18665 David Card
Stefano DellaVigna

Nine Facts about Top Journals in Economics
2012
w18661 Marcus Hagedorn
Tzuo Hann Law
Iourii Manovskii

Identifying Equilibrium Models of Labor Market Sorting
w18628 Javier Bianchi
Juan Carlos Hatchondo
Leonardo Martinez

International Reserves and Rollover Risk
w18638 Julio J. Rotemberg
Prominent Job Advertisements, Group Learning and Wage Dispersion
w18643 Daiji Kawaguchi
Jungmin Lee
Daniel S. Hamermesh

A Gift of Time
w18646 A. Craig Burnside
Jeremy J. Graveline

On the Asset Market View of Exchange Rates
w18647 Roger E.A. Farmer
Carine Nourry
Alain Venditti

The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in the Real World
w18650 Laura Alfaro
Anusha Chari

Deregulation, Misallocation, and Size: Evidence from India
w18651 Jordi Galí
Notes for a New Guide to Keynes (I): Wages, Aggregate Demand, and Employment
w18654 Nancy L. Stokey
Catching Up and Falling Behind
w18611 Gary Gorton
Andrew Metrick

Securitization
w18602 David Lagakos
Benjamin Moll
Tommaso Porzio
Nancy Qian
Todd Schoellman

Experience Matters: Human Capital and Development Accounting
w18603 Michael C. Burda
Daniel S. Hamermesh
Jay Stewart

Cyclical Variation in Labor Hours and Productivity Using the ATUS
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
w18584 Wojciech Kopczuk
Taxation of Intergenerational Transfers and Wealth
w18556 Geert Bekaert
Alexander Popov

On the Link Between the Volatility and Skewness of Growth
w18563 Alberto Cavallo
Brent Neiman
Roberto Rigobon

Currency Unions, Product Introductions, and the Real Exchange Rate
w18565 Raj Chetty
John N. Friedman
Soren Leth-Petersen
Torben Nielsen
Tore Olsen

Active vs. Passive Decisions and Crowdout in Retirement Savings Accounts: Evidence from Denmark
w18534 Diego A. Comin
Mikhail Dmitriev
Esteban Rossi-Hansberg

The Spatial Diffusion of Technology
w18544 Stephanie Schmitt-Grohé
Martín Uribe

The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery
w18545 Marina Halac
Pierre Yared

Fiscal Rules and Discretion under Persistent Shocks
w18546 Klaus Desmet
Esteban Rossi-Hansberg

On the Spatial Economic Impact of Global Warming
w18550 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Misallocation and Financial Frictions: Some Direct Evidence From the Dispersion in Borrowing Costs
w18520 Robert A. Moffitt
The U.S. Employment-Population Reversal in the 2000s: Facts and Explanations
w18522 David Card
Jörg Heining
Patrick Kline

Workplace Heterogeneity and the Rise of West German Wage Inequality
w18529 Gary D. Hansen
Minchung Hsu
Junsang Lee

Health Insurance Reform: The Impact of a Medicare Buy-In
w18532 Natalia Ramondo
Andrés Rodríguez-Clare
Milagro Saborío-Rodríguez

Trade, Domestic Frictions, and Scale Effects
w18507 Greg Kaplan
Sam Schulhofer-Wohl

Understanding the Long-Run Decline in Interstate Migration
w18510 Jonathan A. Parker
LEADS on Macroeconomic Risks to and from the Household Sector
w18512 Alberto F. Alesina
Stelios Michalopoulos
Elias Papaioannou

Ethnic Inequality
w18501 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

Merging Simulation and Projection Approaches to Solve High-Dimensional Problems
w18490 Alwyn Young
The African Growth Miracle
w18493 Elizabeth M. Caucutt
Lance Lochner

Early and Late Human Capital Investments, Borrowing Constraints, and the Family
w18471 Nick Netzer
Florian Scheuer

A Game Theoretic Foundation of Competitive Equilibria with Adverse Selection
w18467 Domenico Giannone
Michele Lenza
Giorgio E. Primiceri

Prior Selection for Vector Autoregressions
w18470 Alessandra Fogli
Laura Veldkamp

Germs, Social Networks and Growth
w18473 Nir Jaimovich
Sergio Rebelo

Non-linear Effects of Taxation on Growth
w18447 Alessandra Fogli
Enoch Hill
Fabrizio Perri

The Geography of the Great Recession
w18450 Frederico Belo
Pierre Collin-Dufresne
Robert S. Goldstein

Endogenous Dividend Dynamics and the Term Structure of Dividend Strips
w18451 Pierre Collin-Dufresne
Vyacheslav Fos

Insider Trading, Stochastic Liquidity and Equilibrium Prices
w18456 John Hassler
Per Krusell
Conny Olovsson

Energy-Saving Technical Change
w18431 Luis Felipe Céspedes
Roberto Chang
Andrés Velasco

Financial Intermediation, Exchange Rates, and Unconventional Policy in an Open Economy
w18432 Finn E. Kydland
Peter Rupert
Roman Sustek

Housing Dynamics over the Business Cycle
w18435 Kewei Hou
Chen Xue
Lu Zhang

Digesting Anomalies: An Investment Approach
w18438 Stelios Michalopoulos
Alireza Naghavi
Giovanni Prarolo

Trade and Geography in the Origins and Spread of Islam
w18420 Susanto Basu
Brent Bundick

Uncertainty Shocks in a Model of Effective Demand
w18421 Roger E.A. Farmer
Qualitative Easing: How it Works and Why it Matters
w18400 Karl E. Case
Robert J. Shiller
Anne Thompson

What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets
w18406 Florian Scheuer
Adverse Selection In Credit Markets and Regressive Profit Taxation
w18408 Zhiguo He
Konstantin Milbradt

Endogenous Liquidity and Defaultable Bonds
w18413 Jess Benhabib
Pengfei Wang
Yi Wen

Sentiments and Aggregate Demand Fluctuations
w18416 Richard Hornbeck
Pinar Keskin

Does Agriculture Generate Local Economic Spillovers? Short-run and Long-run Evidence from the Ogallala Aquifer
w18360 Guillermo Ordoñez
The Asymmetric Effects of Financial Frictions
w18399 Jesus Fernandez-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Estimating Dynamic Equilibrium Models with Stochastic Volatility
w18377 Russell Cooper
Debt Fragility and Bailouts
w18381 Emmanuel Farhi
Iván Werning

Fiscal Multipliers: Liquidity Traps and Currency Unions
w18391 Francis X. Diebold
Comparing Predictive Accuracy, Twenty Years Later: A Personal Perspective on the Use and Abuse of Diebold-Mariano Tests
w18397 Gary B. Gorton
Some Reflections on the Recent Financial Crisis
w18353 Kristopher Gerardi
Eric Rosenblatt
Paul S. Willen
Vincent Yao

Foreclosure externalities: Some new evidence
w18354 Laurence Ales
Pricila Maziero
Pierre Yared

A Theory of Political and Economic Cycles
w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses
w18362 Hideaki Hirata
M. Ayhan Kose
Christopher Otrok
Marco E. Terrones

Global House Price Fluctuations: Synchronization and Determinants
w18366 Loukas Karabarbounis
Home Production, Labor Wedges, and International Real Business Cycles
w18370 Robert E. Hall
The Cyclical Response of Advertising Refutes Counter-Cyclical Profit Margins in Favor of Product-Market Frictions
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
w18348 Seonghoon Cho
Bennett T. McCallum

Refining Linear Rational Expectations Models and Equilibria
w18315 Robert J. Gordon
Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds
w18333 Edward L. Glaeser
Sari Pekkala Kerr
William R. Kerr

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines
w18334 Nir Jaimovich
Henry E. Siu

The Trend is the Cycle: Job Polarization and Jobless Recoveries
w18295 Robert J. Barro
Convergence and Modernization Revisited
w18296 Richard Hornbeck
Suresh Naidu

When the Levee Breaks: Black Migration and Economic Development in the American South
w18304 Efraim Benmelech
An Empirical Analysis of the Fed's Term Auction Facility
w18305 Ravi Bansal
Dana Kiku
Amir Yaron

Risks For the Long Run: Estimation with Time Aggregation
w18307 John Kennan
Open Borders
w18308 Adam Bee
Bruce D. Meyer
James X. Sullivan

The Validity of Consumption Data: Are the Consumer Expenditure Interview and Diary Surveys Informative?
w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers
w18323 Bennett T. McCallum
A Continuity Refinement for Rational Expectations Solutions
w18284 Roger E.A. Farmer
The Evolution of Endogenous Business Cycles
w18278 Bruce A. Blonigen
Anca D. Cristea

Airports and Urban Growth: Evidence from a Quasi-Natural Policy Experiment
w18283 Jeffrey A. Frankel
Jesse Schreger

Over-optimistic Official Forecasts in the Eurozone and Fiscal Rules
w18265 Ayşegül Şahin
Joseph Song
Giorgio Topa
Giovanni L. Violante

Mismatch Unemployment
w18268 Alberto Chong
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Letter Grading Government Efficiency
w18273 Olivier Coibion
Yuriy Gorodnichenko
Gee Hee Hong

The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications
w18275 Stelios Michalopoulos
Elias Papaioannou

National Institutions and Subnational Development in Africa
w18276 S. Boragan Aruoba
Morris A. Davis
Randall Wright

Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes
w18280 Ivan Werning
Emmanuel Farhi

Fiscal Unions
w18259 Lorenzo Caliendo
Ferdinando Monte
Esteban Rossi-Hansberg

The Anatomy of French Production Hierarchies
w18235 Frank R. Lichtenberg
Pharmaceutical Innovation and Longevity Growth in 30 Developing and High-income Countries, 2000-2009
w18245 Nicholas Bloom
Max Floetotto
Nir Jaimovich
Itay Saporta-Eksten
Stephen J. Terry

Really Uncertain Business Cycles
w18213 Etienne Gagnon
David López-Salido
Nicolas Vincent

Individual Price Adjustment along the Extensive Margin
w18215 Bennett T. McCallum
Determinacy, Learnability, Plausibility, and the Role of Money in New Keynesian Models
w18217 Zhiguo He
Péter Kondor

Inefficient Investment Waves
w18218 Per Krusell
Leena Rudanko

Unions in a Frictional Labor Market
w18220 Brigitte C. Madrian
Matching Contributions and Savings Outcomes: A Behavioral Economics Perspective
w18222 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Prediction Markets for Economic Forecasting
w18224 Stelios Michalopoulos
Elias Papaioannou

Pre-colonial Ethnic Institutions and Contemporary African Development
w18225 Quamrul Ashraf
Boris Gershman
Peter Howitt

How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation
w18228 Casey Rothschild
Florian Scheuer

Redistributive Taxation in the Roy Model
w18191 George Alessandria
Joseph Kaboski
Virgiliu Midrigan

Trade Wedges, Inventories, and International Business Cycles
w18193 Francesc Ortega
Giovanni Peri

The Effect of Trade and Migration on Income
w18199 Emmanuel Farhi
Ivan Werning

Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates
w18170 Olivier Coibion
Yuriy Gorodnichenko
Lorenz Kueng
John Silvia

Innocent Bystanders? Monetary Policy and Inequality in the U.S.
w18178 Daron Acemoglu
Martin Kaae Jensen

Robust Comparative Statics in Large Dynamic Economies
w18177 Daron Acemoglu
Camilo García-Jimeno
James A. Robinson

Finding Eldorado: Slavery and Long-run Development in Colombia
w18181 John H. Cochrane
Continuous-Time Linear Models
w18139 Daniel Berkowitz
Mark Hoekstra
Koen Schoors

Does Finance Cause Growth? Evidence from the Origins of Banking in Russia
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
w18151 Mikhail Golosov
Pricila Maziero
Guido Menzio

Taxation and Redistribution of Residual Income Inequality
w18152 Fernando Alvarez
Francesco Lippi

The Demand of Liquid Assets with Uncertain Lumpy Expenditures
w18154 Loukas Karabarbounis
Brent Neiman

Declining Labor Shares and the Global Rise of Corporate Saving
w18162 William Easterly
Ross Levine

The European Origins of Economic Development
w18130 Enrico Spolaore
Romain Wacziarg

How Deep Are the Roots of Economic Development?
w18124 Dana Medianu
John Whalley

Water Availability as a Constraint on China's Future Growth
w18128 Emi Nakamura
Dmitriy Sergeyev
Jón Steinsson

Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence
w18133 Chang-Tai Hsieh
Peter J. Klenow

The Life Cycle of Plants in India and Mexico
w18102 Markus K. Brunnermeier
Thomas M. Eisenbach
Yuliy Sannikov

Macroeconomics with Financial Frictions: A Survey
w18104 Ravi Bansal
Dana Kiku
Ivan Shaliastovich
Amir Yaron

Volatility, the Macroeconomy and Asset Prices
w18114 Jess Benhabib
George W. Evans
Seppo Honkapohja

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?
w18082 Christopher L. Foote
Kristopher S. Gerardi
Paul S. Willen

Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis
w18084 Torben G. Andersen
Tim Bollerslev
Peter F. Christoffersen
Francis X. Diebold

Financial Risk Measurement for Financial Risk Management
w18085 Jordi Galí
Frank Smets
Rafael Wouters

Slow Recoveries: A Structural Interpretation
w18088 Casey B. Mulligan
Do Welfare Policies Matter for Labor Market Aggregates? Quantifying Safety Net Work Incentives since 2007
w18091 Jess Benhabib
Jesse Perla
Christopher Tonetti

Catch-up and Fall-back through Innovation and Imitation
w18094 James H. Stock
Mark W. Watson

Disentangling the Channels of the 2007-2009 Recession
w18079 Emin M. Dinlersoz
Jeremy Greenwood

The Rise and Fall of Unions in the U.S.
w18072 Philippe Aghion
Emmanuel Farhi
Enisse Kharroubi

Monetary Policy, Liquidity, and Growth
w18058 Jesús Fernández-Villaverde
Grey Gordon
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Nonlinear Adventures at the Zero Lower Bound
w18059 Todd M. Sinai
House Price Moments in Boom-Bust Cycles
w18062 Andrew K. Rose
Protectionism Isn't Counter-Cyclic (anymore)
w18066 Mark Huggett
Greg Kaplan

The Money Value of a Man
w18074 Jess Benhabib
Pengfei Wang

Financial Constraints, Endogenous Markups, and Self-fulfilling Equilibria
w18077 Thomas Philippon
Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
w18048 Philippe Aghion
Mathias Dewatripont
Luosha Du
Ann Harrison
Patrick Legros

Industrial Policy and Competition
w18031 Stephanie Schmitt-Grohe
Martin Uribe

Prudential Policy for Peggers
w18035 Fatih Guvenen
Serdar Ozkan
Jae Song

The Nature of Countercyclical Income Risk
w18042 Sylvain Leduc
Daniel Wilson

Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment
w18041 Chris Edmond
Virgiliu Midrigan
Daniel Yi Xu

Competition, Markups, and the Gains from International Trade
w18022 Melvyn G. Coles
Dale T. Mortensen

Equilibrium Labor Turnover, Firm Growth and Unemployment
w18004 Asli Demirguc-Kunt
Erik Feyen
Ross Levine

The Evolving Importance of Banks and Securities Markets
w18007 Roger E.A. Farmer
The Effect of Conventional and Unconventional Monetary Policy Rules on Inflation Expectations: Theory and Evidence
w17982 Orazio Attanasio
Erik Hurst
Luigi Pistaferri

The Evolution of Income, Consumption, and Leisure Inequality in The US, 1980-2010
w17971 Susanto Basu
Luigi Pascali
Fabio Schiantarelli
Luis Serven

Productivity and the Welfare of Nations
w17978 Mario J. Crucini
Christopher I. Telmer

Microeconomic Sources of Real Exchange Rate Variability
w17934 Nobuhiro Kiyotaki
John Moore

Liquidity, Business Cycles, and Monetary Policy
w17937 Laurence Ales
Roozbeh Hosseini
Larry E. Jones

Is There "Too Much" Inequality in Health Spending Across Income Groups?
w17944 Pierpaolo Benigno
Federica Romei

Debt Deleveraging and The Exchange Rate
w17948 Russell Cooper
Guan Gong
Ping Yan

Costly Labor Adjustment: Effects of China's Employment Regulations
w17966 Jesse Rothstein
The Labor Market Four Years Into the Crisis: Assessing Structural Explanations
w17956 Martin S. Eichenbaum
Nir Jaimovich
Sergio Rebelo
Josephine Smith

How Frequent Are Small Price Changes?
w17958 Rüdiger Bachmann
Tim O. Berg
Eric R. Sims

Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence
w17962 Christopher L. House
Jing Zhang

Layoffs, Lemons and Temps
w17923 Fernando E. Alvarez
Francesco Lippi

Price Setting with menu cost for Multi-product firms
w17924 Rüdiger Bachmann
Lin Ma

Lumpy Investment, Lumpy Inventories
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
w17909 Charles A.E. Goodhart
Anil K. Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Financial Regulation in General Equilibrium
w17898 Andrew Atkeson
Christian Hellwig
Guillermo Ordonez

Optimal Regulation in the Presence of Reputation Concerns
w17900 Cosmin Ilut
Martin Schneider

Ambiguous Business Cycles
w17903 Eric M. Leeper
Todd B. Walker

Perceptions and Misperceptions of Fiscal Inflation
w17905 Francisco J. Buera
Joseph P. Kaboski
Yongseok Shin

The Macroeconomics of Microfinance
w17876 Veronica Guerrieri
Robert Shimer

Dynamic Adverse Selection: A Theory of Illiquidity, Fire Sales, and Flight to Quality
w17877 Maurice Obstfeld
Does the Current Account Still Matter?
w17880 Sebastian Dyrda
Greg Kaplan
José-Víctor Ríos-Rull

Business Cycles and Household Formation: The Micro vs the Macro Labor Elasticity
w17897 Abhijit Banerjee
Esther Duflo
Nancy Qian

On the Road: Access to Transportation Infrastructure and Economic Growth in China
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?
w17872 Karen K. Lewis
Edith X. Liu

International Consumption Risk Is Shared After All: An Asset Return View
w17841 Stéphane Hallegatte
Geoffrey Heal
Marianne Fay
David Treguer

From Growth to Green Growth - a Framework
w17844 Huixin Bi
Eric M. Leeper
Campbell B. Leith

Uncertain Fiscal Consolidations
w17850 Nicholas Bloom
Christos Genakos
Raffaella Sadun
John Van Reenen

Management Practices Across Firms and Countries
w17853 Lucia Foster
John C. Haltiwanger
Chad Syverson

The Slow Growth of New Plants: Learning about Demand?
w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective
w17822 Shekhar Aiyar
Charles W. Calomiris
Tomasz Wieladek

Does Macro-Pru Leak? Evidence from a UK Policy Experiment
w17830 Atif R. Mian
Amir Sufi

What explains high unemployment? The aggregate demand channel
w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises
w17836 Laurence M. Ball
Ben Bernanke and the Zero Bound
w17813 Johannes F. Schmieder
Till M. von Wachter
Stefan Bender

The Effects of Extended Unemployment Insurance over the Business Cycle: Evidence from Regression Discontinuity Estimates Over Twenty Years
w17814 Johannes F. Schmieder
Till M. von Wachter
Stefan Bender

The Long-Term Effects of Unemployment Insurance Extensions on Employment
w17779 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Ayşegül Şahin

Is Labor Supply Important for Business Cycles?
w17780 Joon-Ho Hahm
Frederic S. Mishkin
Hyun Song Shin
Kwanho Shin

Macroprudential Policies in Open Emerging Economies
w17782 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger

Recruiting Intensity during and after the Great Recession: National and Industry Evidence
w17787 Valerie A. Ramey
Government Spending and Private Activity
w17783 Xavier Gabaix
Boundedly Rational Dynamic Programming: Some Preliminary Results
w17791 Daniel F. Waggoner
Tao Zha

Confronting Model Misspecification in Macroeconomics
w17794 Nathan Nunn
Nancy Qian

Aiding Conflict: The Impact of U.S. Food Aid on Civil War
w17767 Ariel Burstein
Javier Cravino

Measured Aggregate Gains from International Trade
w17775 Francisco J. Buera
Benjamin Moll

Aggregate Implications of a Credit Crunch
w17757 John Hassler
Per Krusell

Economics and Climate Change: Integrated Assessment in a Multi-Region World
w17759 James D. Hamilton
Oil Prices, Exhaustible Resources, and Economic Growth
w17769 Leonid Kogan
Dimitris Papanikolaou
Amit Seru
Noah Stoffman

Technological Innovation, Resource Allocation, and Growth
w17742 Lars-Alexander Kuehn
Nicolas Petrosky-Nadeau
Lu Zhang

An Equilibrium Asset Pricing Model with Labor Market Search
w17746 Guido Menzio
Irina A. Telyukova
Ludo Visschers

Directed Search over the Life Cycle
w17723 Tim Landvoigt
Monika Piazzesi
Martin Schneider

The Housing Market(s) of San Diego
w17735 Jeremy Greenwood
Nezih Guner
Georgi Kocharkov
Cezar Santos

Technology and the Changing Family: A Unified Model of Marriage, Divorce, Educational Attainment and Married Female Labor-Force Participation
2011
w17714 Tom Krebs
Moritz Kuhn
Mark L. J. Wright

Human Capital Risk, Contract Enforcement, and the Macroeconomy
w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
w17686 Eric van Wincoop
International Contagion Through Leveraged Financial Institutions
w17688 Mariacristina De Nardi
Eric French
David Benson

Consumption and the Great Recession
w17700 Timothy J. Kehoe
Felipe Meza

Catch-up Growth Followed by Stagnation: Mexico, 1950-2010
w17701 William R. Kerr
Income Inequality and Social Preferences for Redistribution and Compensation Differentials
w17656 Francesco Caselli
Antonio Ciccone

The Contribution of Schooling in Development Accounting: Results from a Nonparametric Upper Bound
w17659 Rui Castro
Gian Luca Clementi
Yoonsoo Lee

Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks
w17662 Emmanuel Farhi
Gita Gopinath
Oleg Itskhoki

Fiscal Devaluations
w17666 Kristopher Gerardi
Lauren Lambie-Hanson
Paul S. Willen

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process
w17672 Matthias Doepke
Michèle Tertilt
Alessandra Voena

The Economics and Politics of Women's Rights
w17651 Paul Beaudry
Deokwoo Nam
Jian Wang

Do Mood Swings Drive Business Cycles and is it Rational?
w17654 Casey B. Mulligan
The Expanding Social Safety Net
w17638 Steven J. Davis
Till M. von Wachter

Recessions and the Cost of Job Loss
w17640 Quamrul Ashraf
Oded Galor

Cultural Diversity, Geographical Isolation, and the Origin of the Wealth of Nations
w17641 Maurice Obstfeld
The International Monetary System: Living with Asymmetry
w17642 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski

Optimal Dynamic Taxes
w17617 Martin S. Feldstein
The Euro and European Economic Conditions
w17620 Stelios Michalopoulos
Elias Papaioannou

The Long-Run Effects of the Scramble for Africa
w17622 Fatih Guvenen
Macroeconomics With Heterogeneity: A Practical Guide
w17600 John Cawley
Asako S. Moriya
Kosali I. Simon

The Impact of the Macroeconomy on Health Insurance Coverage: Evidence from the Great Recession
w17601 Francesco Caselli
Andrea Tesei

Resource Windfalls, Political Regimes, and Political Stability
w17607 Orley C. Ashenfelter
Economic History or History of Economics? A Review Essay on Sylvia Nasar's Grand Pursuit: the Story of Economic Genius
w17594 Gita Gopinath
Oleg Itskhoki
Brent Neiman

Trade Prices and the Global Trade Collapse of 2008-2009
w17583 Veronica Guerrieri
Guido Lorenzoni

Credit Crises, Precautionary Savings, and the Liquidity Trap
w17525 George-Marios Angeletos
Jennifer La'O

Optimal Monetary Policy with Informational Frictions
w17584 Casey B. Mulligan
Rising Labor Productivity during the 2008-9 Recession
w17560 Nicolas Coeurdacier
Pierre-Olivier Gourinchas

When Bonds Matter: Home Bias in Goods and Assets
w17562 Marco Battaglini
Stephen Coate

Fiscal Policy and Unemployment
w17563 Ian Martin
The Lucas Orchard
w17564 Ian Martin
The Forward Premium Puzzle in a Two-Country World
w17566 Fernando E. Alvarez
Francesco Lippi

Persistent Liquidity Effects and Long Run Money Demand
w17571 Roberto Perotti
The "Austerity Myth": Gain Without Pain?
w17574 Ravi Bansal
Marcelo Ochoa

Welfare Costs of Long-Run Temperature Shifts
w17575 Ravi Bansal
Marcelo Ochoa

Temperature, Aggregate Risk, and Expected Returns
w17555 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy
w17536 James M. Poterba
Steven F. Venti
David A. Wise

The Composition and Draw-down of Wealth in Retirement
w17537 Karsten Jeske
Dirk Krueger
Kurt Mitman

Housing and the Macroeconomy: The Role of Bailout Guarantees for Government Sponsored Enterprises
w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector
w17543 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Supply-Side Policies and the Zero Lower Bound
w17544 Aaron Weisbrod
John Whalley

The Contribution of Chinese FDI to Africa's Pre Crisis Growth Surge
w17546 Dani Rodrik
Unconditional Convergence
w17547 Alan L. Gustman
Thomas L. Steinmeier
Nahid Tabatabai

How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?
w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information
w17551 Daniel A. Dias
Christine J. Richmond
Mark L.J. Wright

The Stock of External Sovereign Debt: Can We Take the Data At 'Face Value'?
w17552 Guido Sandleris
Mark L.J. Wright

The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis
w17553 Costas Arkolakis
A Unified Theory of Firm Selection and Growth
w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions
w17520 Allen Head
Lucy Qian Liu
Guido Menzio
Randall Wright

Sticky Prices: A New Monetarist Approach
w17534 Jesse Rothstein
Unemployment Insurance and Job Search in the Great Recession
w17495 Robert E. Lucas
Jr.
Benjamin Moll

Knowledge Growth and the Allocation of Time
w17500 Yiting Li
Guillaume Rocheteau
Pierre-Olivier Weill

Liquidity and the Threat of Fraudulent Assets
w17508 Raquel Fernández
Joyce Cheng Wong

The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work
w17510 Chao Gu
Randall Wright

Endogenous Credit Cycles
w17511 Yuet-Yee Wong
Randall Wright

Buyers, Sellers and Middlemen: Variations on Search-Theoretic Themes
w17512 Jonathan Chiu
Cesaire Meh
Randall Wright

Innovation and Growth with Financial, and other, Frictions
w17454 Tobias Adrian
Markus K. Brunnermeier

CoVaR
w17479 Roger E.A. Farmer
The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence
w17487 Benjamin F. Jones
The Human Capital Stock: A Generalized Approach
w17489 Florin O. Bilbiie
Ippei Fujiwara
Fabio Ghironi

Optimal Monetary Policy with Endogenous Entry and Product Variety
w17490 Francis X. Diebold
Kamil Yilmaz

On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms
w17493 Andrew Atkeson
Ariel T. Burstein

Aggregate Implications of Innovation Policy
w17464 Lubos Pastor
Pietro Veronesi

Political Uncertainty and Risk Premia
w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
w17445 Casey B. Mulligan
Means-Tested Subsidies and Economic Performance Since 2007
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
w17448 Igor Livshits
James MacGee
Michèle Tertilt

Costly Contracts and Consumer Credit
w17457 Mark A. Aguiar
Manuel Amador

Fiscal Policy in Debt Constrained Economies
w17418 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

How to Solve Dynamic Stochastic Models Computing Expectations Just Once
w17416 Jules H. van Binsbergen
Wouter Hueskes
Ralph Koijen
Evert B. Vrugt

Equity Yields
w17420 Lee E. Ohanian
Andrea Raffo

Aggregate Hours Worked in OECD Countries: New Measurement and Implications for Business Cycles
w17421 S. Boragan Aruoba
Francis X. Diebold
Jeremy Nalewaik
Frank Schorfheide
Dongho Song

Improving GDP Measurement: A Forecast Combination Perspective
w17424 Yuriy Gorodnichenko
Anna Mikusheva
Serena Ng

Estimators for Persistent and Possibly Non-Stationary Data with Classical Properties
w17429 Alejandro Justiniano
Claudio Michelacci

The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the US and Europe
w17430 Michael P. Keane
Richard Rogerson

Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective
w17433 Gianmarco I.P. Ottaviano
Firm Heterogeneity, Endogenous Entry, and the Business Cycle
w17406 Gregory J. Colman
Dhaval M. Dave

Exercise, Physical Activity, and Exertion over the Business Cycle
w17389 Tommaso Monacelli
Vincenzo Quadrini
Antonella Trigari

Financial Markets and Unemployment
w17391 Emi Nakamura
Jón Steinsson

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions
w17398 Benjamin A. Olken
Rohini Pande

Corruption in Developing Countries
w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment
w17400 Dani Rodrik
The Future of Economic Convergence
w17347 Ralph Ossa
Trade Wars and Trade Talks with Data
w17348 Mikhail Golosov
John Hassler
Per Krusell
Aleh Tsyvinski

Optimal Taxes on Fossil Fuel in General Equilibrium
w17344 Ivan Werning
Managing a Liquidity Trap: Monetary and Fiscal Policy
w17377 Quamrul H. Ashraf
David N. Weil
Joshua Wilde

The Effect of Interventions to Reduce Fertility on Economic Growth
w17308 Lorenzo Caliendo
Esteban Rossi-Hansberg

The Impact of Trade on Organization and Productivity
w17311 Aubhik Khan
Julia K. Thomas

Credit Shocks and Aggregate Fluctuations in an Economy with Production Heterogeneity
w17313 Kyle F. Herkenhoff
Lee E. Ohanian

Labor Market Dysfunction During the Great Recession
w17319 Sanjay K. Chugh
Fabio Ghironi

Optimal Fiscal Policy with Endogenous Product Variety
w17317 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Keith Kuester
Juan Rubio-Ramírez

Fiscal Volatility Shocks and Economic Activity
w17328 Robert J. Barro
José F. Ursua

Rare Macroeconomic Disasters
w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives
w17338 Greg Kaplan
Giovanni L. Violante

A Model of the Consumption Response to Fiscal Stimulus Payments
w17291 Paul Beaudry
Franck Portier

A Gains from Trade Perspective on Macroeconomic Fluctuations
w17294 Steven J. Davis
Jason Faberman
John C. Haltiwanger

Labor Market Flows in the Cross Section and Over Time
w17284 Melvyn G. Coles
Dale T. Mortensen

Equilibrium Wage and Employment Dynamics in a Model of Wage Posting without Commitment
w17274 Laurence M. Ball
Nicolás De Roux
Marc Hofstetter

Unemployment in Latin America and the Caribbean
w17277 François Gourio
Michael Siemer
Adrien Verdelhan

International Risk Cycles
w17278 Craig Burnside
Carry Trades and Risk
w17252 Pierre-Olivier Gourinchas
Maurice Obstfeld

Stories of the Twentieth Century for the Twenty-First
w17259 Mark A. Aguiar
Erik Hurst
Loukas Karabarbounis

Time Use During Recessions
w17260 Martin S. Feldstein
What's Next for the Dollar?
w17231 Nicholas Bloom
Helena Schweiger
John Van Reenen

The Land that Lean Manufacturing Forgot? Management Practices in Transition Countries
w17230 Ruediger Bachmann
Jinhui Bai

Public Consumption Over the Business Cycle
w17240 Jonathan A. Parker
On Measuring the Effects of Fiscal Policy in Recessions
w17229 George-Marios Angeletos
Luigi Iovino
Jennifer La'O

Cycles, Gaps, and the Social Value of Information
w17216 Quamrul Ashraf
Oded Galor

The "Out of Africa" Hypothesis, Human Genetic Diversity, and Comparative Economic Development
w17191 Francois Gourio
Leena Rudanko

Customer Capital
w17201 Fabrizio Perri
Vincenzo Quadrini

International Recessions
w17179 Robert E. Hall
Clashing Theories of Unemployment
w17187 Michael C. Burda
Jennifer Hunt

What Explains the German Labor Market Miracle in the Great Recession?
w17186 Konrad B. Burchardi
Tarek Alexander Hassan

The Economic Impact of Social Ties: Evidence from German Reunification
w17158 Nicola Gennaioli
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Human Capital and Regional Development
w17128 Angus S. Deaton
The Financial Crisis and the Well-Being of Americans
w17130 Xiaohong Chen
Jack Favilukis
Sydney C. Ludvigson

An Estimation of Economic Models with Recursive Preferences
w17133 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Risk, Monetary Policy and the Exchange Rate
w17137 Roger Farmer
Animal Spirits, Financial Crises and Persistent Unemployment
w17140 Hyungsik Roger Moon
Frank Schorfheide
Eleonora Granziera
Mihye Lee

Inference for VARs Identified with Sign Restrictions
w17142 Lawrence Christiano
Daisuke Ikeda

Government Policy, Credit Markets and Economic Activity
w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor
w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees
w17111 Thorsten Drautzburg
Harald Uhlig

Fiscal Stimulus and Distortionary Taxation
w17102 Quamrul Ashraf
Boris Gershman
Peter Howitt

Banks, Market Organization, and Macroeconomic Performance: An Agent-Based Computational Analysis
w17084 Jordi Galí
Frank Smets
Rafael Wouters

Unemployment in an Estimated New Keynesian Model
w17094 Charles I. Jones
Life and Growth
w17098 Alberto F. Alesina
Paola Giuliano
Nathan Nunn

On the Origins of Gender Roles: Women and the Plough
w17100 Nune Hovhannisyan
Wolfgang Keller

International Business Travel: An Engine of Innovation?
w17058 Oded Galor
Inequality, Human Capital Formation and the Process of Development
w17063 Rüdiger Bachmann
Eric R. Sims

Confidence and the Transmission of Government Spending Shocks
w17075 Oded Galor
Stelios Michalopoulos

Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits
w17060 George-Marios Angeletos
Jennifer La'O

Decentralization, Communication, and the Origins of Fluctuations
w17064 Harold L. Cole
Felix Kubler

Recursive Contracts, Lotteries and Weakly Concave Pareto Sets
w17071 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Is there a trade-off between inflation and output stabilization?
w17057 Oded Galor
The Demographic Transition: Causes and Consequences
w17037 Quamrul Ashraf
Oded Galor

Dynamics and Stagnation in the Malthusian Epoch
w17041 Erik Hurst
Benjamin Wild Pugsley

What Do Small Businesses Do?
w17044 Laurence M. Ball
Sandeep Mazumder

Inflation Dynamics and the Great Recession
w17045 Zheng Liu
Pengfei Wang
Tao Zha

Land-price dynamics and macroeconomic fluctuations
w17005 Bennett T. McCallum
Should Central Banks Raise their Inflation Targets? Some Relevant Issues
w17021 Simon Gilchrist
Egon Zakrajšek

Credit Spreads and Business Cycle Fluctuations
w17026 Francois Gourio
Credit Risk and Disaster Risk
w17027 Tarek A. Hassan
Thomas M. Mertens

The Social Cost of Near-Rational Investment
w17034 Olivier Coibion
Are the Effects of Monetary Policy Shocks Big or Small?
w16984 Daron Acemoglu
Diversity and Technological Progress
w16988 Igal Hendel
Aviv Nevo

Intertemporal Price Discrimination in Storable Goods Markets
w16996 Martin Lettau
Sydney C. Ludvigson

Shocks and Crashes
w16965 Thomas Philippon
Virgiliu Midrigan

Household Leverage and the Recession
w16966 Daron Acemoglu
Simon Johnson
James A. Robinson

Hither Thou Shalt Come, But No Further: Reply to "The Colonial Origins of Comparative Development: An Empirical Investigation: Comment"
w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects
w16968 Jed Kolko
David Neumark
Marisol Cuellar Mejia

What Do Business Climate Indexes Teach Us About State Policy and Economic Growth?
w16970 Marco Bassetto
Leslie McGranahan

On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States
w16972 John H. Cochrane
Discount Rates
w16979 Fiorella De Fiore
Harald Uhlig

Bank Finance Versus Bond Finance
w16951 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Foresight and Information Flows
w16957 Yosef Bonaparte
Russell Cooper
Guozhong Zhu

Consumption Smoothing and Portfolio Rebalancing: The Effects of Adjustment Costs
w16958 Gita Gopinath
Brent Neiman

Trade Adjustment and Productivity in Large Crises
w16945 Jeffrey A. Frankel
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile
w16924 Andrew Glover
Jonathan Heathcote
Dirk Krueger
José-Víctor Ríos-Rull

Intergenerational Redistribution in the Great Recession
w16934 Edward L. Glaeser
Giacomo A.M. Ponzetto
Kristina Tobio

Cities, Skills, and Regional Change
w16942 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Carry Trade and Momentum in Currency Markets
w16911 Xavier Gabaix
A Sparsity-Based Model of Bounded Rationality
w16904 Ariel Burstein
Jonathan Vogel

Factor Prices and International Trade: A Unifying Perspective
w16889 Janice C. Eberly
Sergio Rebelo
Nicolas Vincent

What Explains the Lagged Investment Effect?
w16891 Betsey Stevenson
Justin Wolfers

Trust in Public Institutions over the Business Cycle
w16867 Ippei Fujiwara
Tomoyuki Nakajima
Nao Sudo
Yuki Teranishi

Global Liquidity Trap
w16843 Chong Wang
Neng Wang
Jinqiang Yang

A Unified Model of Entrepreneurship Dynamics
w16847 Stephanie Schmitt-Grohé
Martin Uríbe

Pegs and Pain
w16848 Karl E. Case
John M. Quigley
Robert J. Shiller

Wealth Effects Revisited 1978-2009
w16861 Rüdiger Bachmann
Christian Bayer

Investment Dispersion and the Business Cycle
w16862 Rüdiger Bachmann
Christian Bayer

Uncertainty Business Cycles - Really?
w16819 Eric M. Leeper
Todd B. Walker

Fiscal Limits in Advanced Economies
w16829 John F. Helliwell
Haifang Huang

New measures of the costs of unemployment: Evidence from the subjective well-being of 3.3 million Americans
w16816 Jess Benhabib
Chetan Dave

Learning, Large Deviations and Rare Events
w16832 Jess Benhabib
Alejandro Corvalan
Mark M. Spiegel

Reestablishing the Income-Democracy Nexus
w16836 Hyun Song Shin
Kwanho Shin

Procyclicality and Monetary Aggregates
w16790 James D. Hamilton
Historical Oil Shocks
w16800 Shang-Jin Wei
Xiaobo Zhang

Sex Ratios, Entrepreneurship, and Economic Growth in the People's Republic of China
w16799 Troy Davig
Eric M. Leeper

Temporarily Unstable Government Debt and Inflation
w16807 Mark A. Aguiar
Mark Bils

Has Consumption Inequality Mirrored Income Inequality?
w16810 Sydney C. Ludvigson
Advances in Consumption-Based Asset Pricing: Empirical Tests
w16771 Dennis Tao Yang
Junsen Zhang
Shaojie Zhou

Why Are Saving Rates so High in China?
w16774 Ellen R. McGrattan
Transition to FDI Openness: Reconciling Theory and Evidence
w16775 Hyunseung Oh
Ricardo Reis

Targeted Transfers and the Fiscal Response to the Great Recession
w16777 Nicolae Gârleanu
Lasse Heje Pedersen

Margin-Based Asset Pricing and Deviations from the Law of One Price
w16781 Frank Schorfheide
Estimation and Evaluation of DSGE Models: Progress and Challenges
w16784 Patrick Bayer
Christopher Geissler
Kyle Mangum
James W. Roberts

Speculators and Middlemen: The Strategy and Performance of Investors in the Housing Market
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
w16759 James Feyrer
Bruce Sacerdote

Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act
w16764 Alexander David
Pietro Veronesi

Investors' and Central Bank's Uncertainty Embedded in Index Options
w16769 Robert J. Barro
Rachel M. McCleary

Saints Marching In, 1590-2009
w16755 Frederic S. Mishkin
Monetary Policy Strategy: Lessons from the Crisis
w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts
w16729 Raj Chetty
Adam Guren
Dayanand S. Manoli
Andrea Weber

Does Indivisible Labor Explain the Difference Between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities
w16734 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Understanding Booms and Busts in Housing Markets
w16741 Robert E. Hall
The Long Slump
w16742 Charles I. Jones
Misallocation, Economic Growth, and Input-Output Economics
w16744 Severin Borenstein
On the Persistent Financial Losses of U.S. Airlines: A Preliminary Exploration
w16747 Laura Xiaolei Liu
Lu Zhang

A Model of Momentum
w16748 Kerwin Kofi Charles
Erik Hurst
Alexandra Killewald

Marital Sorting and Parental Wealth
w16749 Emmanuel Farhi
Iván Werning

Insurance and Taxation over the Life Cycle
w16750 Emmanuel Farhi
Jean Tirole

Bubbly Liquidity
w16752 Russell Cooper
Hubert Kempf

Deposit Insurance Without Commitment: Wall St. Versus Main St
w16717 Nicholas Bloom
Mirko Draca
John Van Reenen

Trade Induced Technical Change? The Impact of Chinese Imports on Innovation, IT and Productivity
w16701 Sam Schulhofer-Wohl
Negative Equity Does Not Reduce Homeowners' Mobility
w16705 David E. Bloom
David Canning
Günther Fink

Implications of Population Aging for Economic Growth
w16707 Olivier Coibion
Yuriy Gorodnichenko

Why Are Target Interest Rate Changes So Persistent?
w16708 Kenneth Judd
Lilia Maliar
Serguei Maliar

One-node Quadrature Beats Monte Carlo: A Generalized Stochastic Simulation Algorithm
w16680 Judith A. Chevalier
Anil K. Kashyap

Best Prices
w16684 Jonathan A. Parker
Nicholas S. Souleles
David S. Johnson
Robert McClelland

Consumer Spending and the Economic Stimulus Payments of 2008
w16682 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski
Pierre Yared

A Dynamic Theory of Resource Wars
w16685 Atif Mian
Amir Sufi
Francesco Trebbi

Foreclosures, House Prices, and the Real Economy
w16688 Charles W. Calomiris
Joseph Mason
David Wheelock

Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach
w16696 Pierre-André Chiappori
Krislert Samphantharak
Sam Schulhofer-Wohl
Robert M. Townsend

Heterogeneity and Risk Sharing in Village Economies
w16657 James D. Hamilton
Michael T. Owyang

The Propagation of Regional Recessions
w16658 Nicholas Bloom
Benn Eifert
Aprajit Mahajan
David McKenzie
John Roberts

Does Management Matter? Evidence from India
w16666 Jonathan Eaton
Samuel Kortum
Brent Neiman
John Romalis

Trade and the Global Recession
2010
w16631 Matthew N. Luzzetti
Lee E. Ohanian

The General Theory of Employment, Interest, and Money After 75 Years: The Importance of Being in the Right Place at the Right Time
w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics
w16644 Roger E.A. Farmer
Dmitry Plotnikov

Does Fiscal Policy Matter? Blinder and Solow Revisited
w16646 Frédéric Docquier
Çaǧlar Özden
Giovanni Peri

The Wage Effects of Immigration and Emigration
w16648 Ralph S.J. Koijen
Stijn Van Nieuwerburgh

Predictability of Returns and Cash Flows
w16633 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Second-Order Approximation of Dynamic Models with Time-Varying Risk
w16634 Craig Burnside
Identification and Inference in Linear Stochastic Discount Factor Models with Excess Returns
w16636 Richard Rogerson
Individual and Aggregate Labor Supply With Coordinated Working Times
w16640 Fernando A. Broner
Jaume Ventura

Rethinking the Effects of Financial Liberalization
w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
w16609 Frederic S. Mishkin
Over The Cliff: From the Subprime to the Global Financial Crisis
w16615 Klaus Desmet
Esteban Rossi-Hansberg

Urban Accounting and Welfare
w16618 Jesús Fernández-Villaverde
Juan Rubio-Ramírez

Macroeconomics and Volatility: Data, Models, and Estimation
w16619 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski
Matthew Weinzierl

Preference Heterogeneity and Optimal Capital Income Taxation
w16588 Ellen R. McGrattan
Capital Taxation During the U.S. Great Depression
w16592 John Whalley
Xiliang Zhao

The Contribution of Human Capital to China's Economic Growth
w16596 Larry E. Jones
Alice Schoonbroodt

Baby Busts and Baby Booms: The Fertility Response to Shocks in Dynastic Models
w16599 Kenneth J. Arrow
Partha Dasgupta
Lawrence H. Goulder
Kevin J. Mumford
Kirsten Oleson

Sustainability and the Measurement of Wealth
w16571 David K. Levine
Production Chains
w16577 Jonathan A. Parker
Annette Vissing-Jorgensen

The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares
w16580 Timothy J. Kehoe
Kim J. Ruhl

Why Have Economic Reforms in Mexico Not Generated Growth?
w16531 Andrew Paciorek
Todd M. Sinai

Does Home Owning Smooth the Variability of Future Housing Consumption?
w16528 Sebnem Kalemli-Ozcan
Herman Kamil
Carolina Villegas-Sanchez

What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?
w16532 James H. Stock
Mark W. Watson

Estimating Turning Points Using Large Data Sets
w16536 Greg Kaplan
Sam Schulhofer-Wohl

Interstate Migration Has Fallen Less Than You Think: Consequences of Hot Deck Imputation in the Current Population Survey
w16537 Olivier Coibion
Yuriy Gorodnichenko

Information Rigidity and the Expectations Formation Process: A Simple Framework and New Facts
w16541 Ryan Kellogg
The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling
w16544 Fredrik Andersson
Mónica García-Pérez
John C. Haltiwanger
Kristin McCue
Seth Sanders

Workplace Concentration of Immigrants
w16522 Roger E.A. Farmer
Animal Spirits, Persistent Unemployment and the Belief Function
w16527 Erik Hurst
Geng Li
Benjamin Pugsley

Are Household Surveys Like Tax Forms: Evidence from Income Underreporting of the Self Employed
w16526 Camille Landais
Pascal Michaillat
Emmanuel Saez

A Macroeconomic Theory of Optimal Unemployment Insurance
w16443 Ufuk Akcigit
William R. Kerr

Growth Through Heterogeneous Innovations
w16514 Stephanie Schmitt-Grohé
Martín Uribe

Liquidity Traps: An Interest-Rate-Based Exit Strategy
w16515 Eric A. Hanushek
Ludger Woessmann

How Much Do Educational Outcomes Matter in OECD Countries?
w16495 Troy Davig
Eric M. Leeper
Todd B. Walker

Inflation and the Fiscal Limit
w16510 Eric M. Leeper
Monetary Science, Fiscal Alchemy
w16498 Russell Cooper
Guan Gong
Ping Yan

Dynamic Labor Demand in China: Public and Private Objectives
w16505 John F. Cogan
John B. Taylor

What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package
w16487 Dave Donaldson
Railroads of the Raj: Estimating the Impact of Transportation Infrastructure
w16488 James H. Stock
Mark W. Watson

Modeling Inflation After the Crisis
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?
w16469 Francis X. Diebold
Georg Strasser

On the Correlation Structure of Microstructure Noise: A Financial Economic Approach
w16441 Daniel W. Sacks
Betsey Stevenson
Justin Wolfers

Subjective Well-Being, Income, Economic Development and Growth
w16402 Lawrence Christiano
Cosmin L. Ilut
Roberto Motto
Massimo Rostagno

Monetary Policy and Stock Market Booms
w16410 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Dynamics of Information Exchange in Endogenous Social Networks
w16411 Daron Acemoglu
Dan Vu Cao

Innovation by Entrants and Incumbents
w16416 Harald Uhlig
Economics and Reality
w16424 Vasco M. Carvalho
Xavier Gabaix

The Great Diversification and its Undoing
w16384 Jordi Galí
Are Central Banks' Projections Meaningful?
w16386 Pierpaolo Benigno
Luigi Paciello

Monetary Policy, Doubts and Asset Prices
w16390 Zhi Wang
Shang-Jin Wei
Anna Wong

Does a Leapfrogging Growth Strategy Raise Growth Rate? Some International Evidence
w16393 Pedro Teles
Harald Uhlig

Is Quantity Theory Still Alive?
w16399 Alberto Martin
Jaume Ventura

Theoretical Notes on Bubbles and the Current Crisis
w16400 Francisco J. Buera
Yongseok Shin

Financial Frictions and the Persistence of History: A Quantitative Exploration
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
w16364 Patrick J. Kehoe
Virgiliu Midrigan

Prices are Sticky After All
w16368 Yuriy Gorodnichenko
Gerard Roland

Culture, Institutions and the Wealth of Nations
w16374 Pierpaolo Benigno
Luca Antonio Ricci
Paolo Surico

Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility
w16375 Erika Färnstrand Damsgaard
Per Krusell

The World Distribution of Productivity: Country TFP Choice in a Nelson-Phelps Economy
w16378 Diego A. Comin
Bart Hobijn

Technology Diffusion and Postwar Growth
w16379 Diego A. Comin
Martí Mestieri

An Intensive Exploration of Technology Diffusion
w16380 Robert J. Gordon
Robert Krenn

The End of the Great Depression 1939-41: Policy Contributions and Fiscal Multipliers
w16377 Olivier Jeanne
Anton Korinek

Managing Credit Booms and Busts: A Pigouvian Taxation Approach
w16351 Atif Mian
Amir Sufi

The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program
w16352 Charles I. Jones
Peter J. Klenow

Beyond GDP? Welfare across Countries and Time
w16357 Casey B. Mulligan
Does Labor Supply Matter During a Recession? Evidence from the Seasonal Cycle
w16327 Fatih Guvenen
Anthony Smith

Inferring Labor Income Risk from Economic Choices: An Indirect Inference Approach
w16337 Adam Ashcraft
Nicolae Gârleanu
Lasse Heje Pedersen

Two Monetary Tools: Interest Rates and Haircuts
w16304 Serguei Maliar
Lilia Maliar
Kenneth L. Judd

Solving the Multi-Country Real Business Cycle Model Using Ergodic Set Methods
w16311 Alan J. Auerbach
Yuriy Gorodnichenko

Measuring the Output Responses to Fiscal Policy
w16309 Murillo Campello
Erasmo Giambona
John R. Graham
Campbell R. Harvey

Liquidity Management and Corporate Investment During a Financial Crisis
w16314 Hoyt Bleakley
Jeffrey Lin

Portage: Path Dependence and Increasing Returns in U.S. History
w16275 Mathias Dolls
Clemens Fuest
Andreas Peichl

Automatic Stabilizers and Economic Crisis: US vs. Europe
w16277 Raquel Fernández
Does Culture Matter?
w16284 Andrew Caplin
John V. Leahy

A Graph Theoretic Approach to Markets for Indivisible Goods
w16285 Andrew Caplin
John V. Leahy

Comparative Statics in Markets for Indivisible Goods
w16289 Karel Mertens
Morten Ravn

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks
w16300 John C. Haltiwanger
Ron S. Jarmin
Javier Miranda

Who Creates Jobs? Small vs. Large vs. Young
w16264 S. Boragan Aruoba
Francis X. Diebold
M. Ayhan Kose
Marco E. Terrones

Globalization, the Business Cycle, and Macroeconomic Monitoring
w16265 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger

The Establishment-Level Behavior of Vacancies and Hiring
w16247 Ruediger Bachmann
Jinhui Bai

Government Purchases Over the Business Cycle: the Role of Economic and Political Inequality
w16230 Edward L. Glaeser
Joshua D. Gottlieb
Joseph Gyourko

Can Cheap Credit Explain the Housing Boom?
w16237 Veronica Guerrieri
Daniel Hartley
Erik Hurst

Endogenous Gentrification and Housing Price Dynamics
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?
w16208 Vasco Curdia
Michael Woodford

The Central-Bank Balance Sheet as an Instrument of Monetary Policy
w16218 David K. Backus
Federico Gavazzoni
Christopher Telmer
Stanley E. Zin

Monetary Policy and the Uncovered Interest Parity Puzzle
w16186 James D. Hamilton
Nonlinearities and the Macroeconomic Effects of Oil Prices
w16163 Ryan D. Edwards
A Review of War Costs in Iraq and Afghanistan
w16169 Ryan Chahrour
Stephanie Schmitt-Grohé
Martín Uribe

A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier
w16181 Larry G. Epstein
Martin Schneider

Ambiguity and Asset Markets
w16183 Anisha Ghosh
George M. Constantinides

The Predictability of Returns with Regime Shifts in Consumption and Dividend Growth
w16145 Christopher L. House
Yusufcan Masatlioglu

Managing Markets for Toxic Assets
w16146 Stefania Albanesi
Claudia Olivetti

Maternal Health and the Baby Boom
w16150 Jan Hatzius
Peter Hooper
Frederic S. Mishkin
Kermit L. Schoenholtz
Mark W. Watson

Financial Conditions Indexes: A Fresh Look after the Financial Crisis
w16162 James D. Hamilton
Calling Recessions in Real Time
w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts
w16159 Philippe Bacchetta
Cédric Tille
Eric van Wincoop

Self-Fulfilling Risk Panics
w16128 Lubos Pastor
Pietro Veronesi

Uncertainty about Government Policy and Stock Prices
w16130 Alessandro Barattieri
Susanto Basu
Peter Gottschalk

Some Evidence on the Importance of Sticky Wages
w16143 Ruediger Bachmann
Steffen Elstner
Eric R. Sims

Uncertainty and Economic Activity: Evidence from Business Survey Data
w16087 John H. Cochrane
Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic
w16091 Javier Bianchi
Enrique G. Mendoza

Overborrowing, Financial Crises and 'Macro-prudential' Taxes
w16095 Michael Woodford
Optimal Monetary Stabilization Policy
w16093 Olivier Coibion
Yuriy Gorodnichenko
Johannes F. Wieland

The Optimal Inflation Rate in New Keynesian Models
w16108 Ryan D. Edwards
U.S. War Costs: Two Parts Temporary, One Part Permanent
w16115 Sebnem Kalemli-Ozcan
Belgi Turan

HIV and Fertility Revisited
w16067 Valerie A. Ramey
Daniel J. Vine

Oil, Automobiles, and the U.S. Economy: How Much have Things Really Changed?
w16071 Stephanie Schmitt-Grohé
Martín Uribe

Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity
w16074 Lawrence J. Christiano
Mathias Trabandt
Karl Walentin

DSGE Models for Monetary Policy Analysis
w16075 Mario J. Crucini
Mototsugu Shintani

Measuring Business Cycles by Saving for a Rainy Day
w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
w16043 John Fernald
Brent Neiman

Growth Accounting with Misallocation: Or, Doing Less with More in Singapore
w16051 Frank R. Lichtenberg
Are Increasing 5-Year Survival Rates Evidence of Success Against Cancer? A reexamination using data from the U.S. and Australia
w16054 Stephanie Schmitt-Grohe
Martin Uribe

The Optimal Rate of Inflation
w16059 George Alessandria
Joseph P. Kaboski
Virgiliu Midrigan

The Great Trade Collapse of 2008-09: An Inventory Adjustment?
w16065 Gita Gopinath
Oleg Itskhoki

In Search of Real Rigidities
w15979 Michael W. Elsby
Bart Hobijn
Aysegul Sahin

The Labor Market in the Great Recession
w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes
w16032 Nicholas Bloom
Carol Propper
Stephan Seiler
John Van Reenen

The Impact of Competition on Management Quality: Evidence from Public Hospitals
w16033 Robert E. Hall
Alan B. Krueger

Evidence on the Determinants of the Choice between Wage Posting and Wage Bargaining
w16002 Benjamin Jones
As Science Evolves, How Can Science Policy?
w16007 Susan E. Woodward
Robert E. Hall

Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence
w16022 Yosef Bonaparte
Russell Cooper

Rationalizing Trading Frequency and Returns
w15986 Marc P. Giannoni
Optimal Interest-Rate Rules in a Forward-Looking Model, and Inflation Stabilization versus Price-Level Stabilization
w15981 Daniel Berger
William Easterly
Nathan Nunn
Shanker Satyanath

Commercial Imperialism? Political Influence and Trade During the Cold War
w15983 Guido Menzio
Espen R. Moen

Worker replacement
w15988 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
w15998 Raj Chetty
Adam Szeidl

The Effect of Housing on Portfolio Choice
w15962 Hamish Low
Luigi Pistaferri

Disability Risk, Disability Insurance and Life Cycle Behavior
w15965 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

A Cluster-Grid Projection Method: Solving Problems with High Dimensionality
w15971 Casey B. Mulligan
The Housing Cycle and Prospects for Technical Progress
w15973 Abhijit Banerjee
Sendhil Mullainathan

The Shape of Temptation: Implications for the Economic Lives of the Poor
w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis
w15949 Eric A. Hanushek
Ludger Woessmann

The Economics of International Differences in Educational Achievement
w15955 Patrick Bajari
Phoebe Chan
Dirk Krueger
Daniel Miller

A Dynamic Model of Housing Demand: Estimation and Policy Implications
w15958 Daron Acemoglu
Gino Gancia
Fabrizio Zilibotti

Competing Engines of Growth: Innovation and Standardization
w15920 Emi Nakamura
Jón Steinsson
Robert Barro
José Ursúa

Crises and Recoveries in an Empirical Model of Consumption Disasters
w15923 Erik Snowberg
Justin Wolfers

Explaining the Favorite-Longshot Bias: Is it Risk-Love or Misperceptions?
w15928 Jesús Fernández-Villaverde
Pablo Guerrón-Quintana
Juan F. Rubio-Ramírez

Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data
w15929 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Reading the Recent Monetary History of the U.S., 1959-2007
w15931 Tommaso Monacelli
Roberto Perotti
Antonella Trigari

Unemployment Fiscal Multipliers
w15927 Olivier Jeanne
Anton Korinek

Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach
w15908 John B. Taylor
John C. Williams

Simple and Robust Rules for Monetary Policy
w15902 Robert J. Barro
Jong-Wha Lee

A New Data Set of Educational Attainment in the World, 1950-2010
w15909 Eric M. Aldrich
Jesús Fernández-Villaverde
A. Ronald Gallant
Juan F. Rubio-Ramírez

Tapping the Supercomputer Under Your Desk: Solving Dynamic Equilibrium Models with Graphics Processors
w15914 Costas Meghir
Luigi Pistaferri

Earnings, Consumption and Lifecycle Choices
w15901 Richard Rogerson
Robert Shimer

Search in Macroeconomic Models of the Labor Market
w15893 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Quantifying the Impact of Financial Development on Economic Development
w15891 Angus S. Deaton
Understanding the mechanisms of economic development
w15890 Jules van Binsbergen
Jesús Fernández-Villaverde
Ralph S.J. Koijen
Juan F. Rubio-Ramírez

The Term Structure of Interest Rates in a DSGE Model with Recursive Preferences
w15888 Etsuro Shioji
Taisuke Uchino

Pass-Through of Oil Prices to Japanese Domestic Prices
w15878 Edward P. Lazear
Why Do Inventories Rise When Demand Falls in Housing and Other Markets?
w15879 Jean Boivin
Michael T. Kiley
Frederic S. Mishkin

How Has the Monetary Transmission Mechanism Evolved Over Time?
w15883 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Beauty Contests and Irrational Exuberance: A Neoclassical Approach
w15896 Atif R. Mian
Amir Sufi

Household Leverage and the Recession of 2007 to 2009
w15897 Casey B. Mulligan
Luke Threinen

The Marginal Products of Residential and Non-Residential Capital Through 2009
w15859 Laurent E. Calvet
Paolo Sodini

Twin Picks: Disentangling the Determinants of Risk-Taking in Household Portfolios
w15866 Craig Burnside
Bing Han
David Hirshleifer
Tracy Yue Wang

Investor Overconfidence and the Forward Premium Puzzle
w15867 Eric A. Hanushek
Ludger Woessmann

Sample Selectivity and the Validity of International Student Achievement Tests in Economic Research
w15870 Alberto Martin
Jaume Ventura

Economic Growth with Bubbles
w15871 Jordi Galí
Monetary Policy and Unemployment
a0653 Robert E. Hall
Economic Fluctuations and Growth
w15847 Marco Del Negro
Fabrizio Perri
Fabiano Schivardi

Tax buyouts
w15852 Fernando E. Alvarez
Francesco Lippi
Luigi Paciello

Optimal price setting with observation and menu costs
w15826 Peter J. Klenow
Benjamin A. Malin

Microeconomic Evidence on Price-Setting
w15834 Robert J. Gordon
Revisiting U. S. Productivity Growth over the Past Century with a View of the Future
w15829 Andreas Fuster
Paul S. Willen

Insuring Consumption Using Income-Linked Assets
w15835 Fernando E. Alvarez
Luigi Guiso
Francesco Lippi

Durable consumption and asset management with transaction and observation costs
w15810 Huixin Bi
Eric M. Leeper

Sovereign Debt Risk Premia and Fiscal Policy in Sweden
w15813 Philippe Aghion
Peter Howitt
Fabrice Murtin

The Relationship Between Health and Growth: When Lucas Meets Nelson-Phelps
w15791 Ichiro Fukunaga
Naohisa Hirakata
Nao Sudo

The Effects of Oil Price Changes on the Industry-Level Production and Prices in the U.S. and Japan
w15792 Yuriy Gorodnichenko
Monika Schnitzer

Financial constraints and innovation: Why poor countries don't catch up
w15800 Casey B. Mulligan
Simple Analytics and Empirics of the Government Spending Multiplier and Other "Keynesian" Paradoxes
w15801 Lawrence J. Christiano
Mathias Trabandt
Karl Walentin

Involuntary Unemployment and the Business Cycle
w15802 Diego Aragon
Andrew Caplin
Sumit Chopra
John V. Leahy
Yann LeCun
Marco Scoffier
Joseph Tracy

Reassessing FHA Risk
w15773 N. Gregory Mankiw
Ricardo Reis

Imperfect Information and Aggregate Supply
w15774 Vasco Cúrdia
Ricardo Reis

Correlated Disturbances and U.S. Business Cycles
w15775 Xavier Sala-i-Martin
Maxim Pinkovskiy

African Poverty is Falling...Much Faster than You Think!
w15777 Casey B. Mulligan
Foreclosures, Enforcement, and Collections under the Federal Mortgage Modification Guidelines
w15782 Troy Davig
Eric M. Leeper
Todd B. Walker

"Unfunded Liabilities" and Uncertain Fiscal Financing
w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection
w15786 Liran Einav
Jonathan D. Levin

Empirical Industrial Organization: A Progress Report
w15790 Paul Beaudry
David A. Green
Benjamin M. Sand

How Much Is Employment Increased by Cutting Labor Costs? Estimating the Elasticity of Job Creation
w15754 Christopher J. Nekarda
Valerie A. Ramey

Industry Evidence on the Effects of Government Spending
w15755 Paul M. Romer
Which Parts of Globalization Matter for Catch-up Growth?
w15756 Orazio P. Attanasio
Guglielmo Weber

Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy
w15758 Jordi Galí
The Return of the Wage Phillips Curve
w15759 David Laibson
Johanna Mollerstrom

Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis
w15762 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Output Trade-off with Downward Wage Rigidities
w15767 Pedro S. Martins
Gary Solon
Jonathan Thomas

Measuring What Employers Really Do about Entry Wages over the Business Cycle
w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection
w15739 Tullio Jappelli
Luigi Pistaferri

The Consumption Response to Income Changes
w15721 Robert W. Fogel
Further Comments on The Impact of the Asian Miracle on the Theory of Economic Growth
w15726 Takatoshi Ito
Great Inflation and Central Bank Independence in Japan
w15688 Ralph S.J. Koijen
Hanno Lustig
Stijn Van Nieuwerburgh

The Cross-Section and Time-Series of Stock and Bond Returns
w15690 Bennett T. McCallum
Is the Spurious Regression Problem Spurious?
w15702 George J. Hall
Thomas J. Sargent

Interest Rate Risk and Other Determinants of Post-WWII U.S. Government Debt/GDP Dynamics
w15705 Fernanda Brollo
Tommaso Nannicini
Roberto Perotti
Guido Tabellini

The Political Resource Curse
w15711 Benjamin F. Jones
Benjamin A. Olken

Climate Shocks and Exports
w15712 Chad Syverson
What Determines Productivity?
w15714 Michael Woodford
Simple Analytics of the Government Expenditure Multiplier
w15662 Ricardo Reis
Interpreting the Unconventional U.S. Monetary Policy of 2007-09
w15663 Alice Schoonbroodt
Michèle Tertilt

Who Owns Children and Does it Matter?
w15675 Russell Cooper
John C. Haltiwanger
Jonathan L. Willis

Euler-Equation Estimation for Discrete Choice Models: A Capital Accumulation Application
w15677 Jesús Fernández-Villaverde
Jeremy Greenwood
Nezih Guner

From Shame to Game in One Hundred Years: An Economic Model of the Rise in Premarital Sex and its De-Stigmatization
w15681 Casey B. Mulligan
Aggregate Implications of Labor Market Distortions: The Recession of 2008-9 and Beyond
w15685 Martin S. Feldstein
U.S. Growth in the Decade Ahead
w15645 Peter Temin
The Great Recession and the Great Depression
w15647 Virgiliu Midrigan
Daniel Yi Xu

Finance and Misallocation: Evidence from Plant-level Data
w15652 Andrei Shleifer
Robert W. Vishny

Asset Fire Sales and Credit Easing
w15657 S. Boragan Aruoba
Francis X. Diebold

Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions
w15630 Andrew Levin
John B. Taylor

Falling Behind the Curve: A Positive Analysis of Stop-Start Monetary Policies and the Great Inflation
w15636 Ricardo J. Caballero
The "Other" Imbalance and the Financial Crisis
w15642 Jean Boivin
Robert Clark
Nicolas Vincent

Virtual Borders: Online Nominal Rigidities and International Market Segmentation
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
w15626 Johannes C. Stroebel
John B. Taylor

Estimated Impact of the Fed's Mortgage-Backed Securities Purchase Program
w15628 Costas Arkolakis
Arnaud Costinot
Andrés Rodríguez-Clare

New Trade Models, Same Old Gains?
w15604 Natalia Ramondo
Andrés Rodríguez-Clare

Trade, Multinational Production, and the Gains from Openness
w15579 Susanto Basu
Luigi Pascali
Fabio Schiantarelli
Luis Serven

Productivity, Welfare and Reallocation: Theory and Firm-Level Evidence
w15582 Dirk Krueger
Fabrizio Perri

Public versus Private Risk Sharing
w15583 Alexander M. Gelber
Joshua W. Mitchell

Taxes and Time Allocation: Evidence from Single Women
w15550 Francesco Caselli
Guy Michaels

Do Oil Windfalls Improve Living Standards? Evidence from Brazil
w15553 Greg Kaplan
Giovanni L. Violante

How Much Consumption Insurance Beyond Self-Insurance?
w15554 Dirk Krueger
Fabrizio Perri
Luigi Pistaferri
Giovanni L. Violante

Cross Sectional Facts for Macroeconomists
w15557 James Feyrer
Distance, Trade, and Income - The 1967 to 1975 Closing of the Suez Canal as a Natural Experiment
w15561 Stefano Eusepi
Bruce Preston

Labor Supply Heterogeneity and Macroeconomic Co-movement
w15570 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Investment Shocks and Business Cycles
w15545 Alex Edmans
Xavier Gabaix

Tractability in Incentive Contracting
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?
w15494 Stephanie Schmitt-Grohé
Martín Uribe

Foreign Demand for Domestic Currency and the Optimal Rate of Inflation
w15502 William N. Goetzmann
Luc Renneboog
Christophe Spaenjers

Art and Money
w15509 Wolfgang Keller
Stephen R. Yeaple

The Gravity of Knowledge
w15512 Moritz Schularick
Alan M. Taylor

Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008
w15513 Mikhail Golosov
Guido Lorenzoni
Aleh Tsyvinski

Decentralized Trading with Private Information
w15514 Eric M. Leeper
Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle
w15519 Domenico Giannone
Michele Lenza

The Feldstein-Horioka fact
w15474 James Feyrer
The US Productivity Slowdown, the Baby Boom, and Management Quality
w15477 Alejandrina Salcedo
Todd Schoellman
Michèle Tertilt

Families as Roommates: Changes in U.S. Household Size from 1850 to 2000
w15479 Ricardo J. Caballero
Alp Simsek

Fire Sales in a Model of Complexity
w15483 Jonathan Heathcote
Fabrizio Perri
Giovanni L. Violante

Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006
w15487 Dimitri Vayanos
Jean-Luc Vila

A Preferred-Habitat Model of the Term Structure of Interest Rates
w15490 Eric J. Bartelsman
John C. Haltiwanger
Stefano Scarpetta

Cross-Country Differences in Productivity: The Role of Allocation and Selection
w15457 Nicolae Gârleanu
Leonid Kogan
Stavros Panageas

The Demographics of Innovation and Asset Returns
w15459 John H. Cochrane
Can Learnability Save New-Keynesian Models?
w15462 Todd M. Sinai
Nicholas S. Souleles

Can Owning a Home Hedge the Risk of Moving?
w15464 Valerie A. Ramey
Identifying Government Spending Shocks: It's All in the Timing
w15467 Olivier J. Blanchard
Marianna Riggi

Why are the 2000s so different from the 1970s? A structural interpretation of changes in the macroeconomic effects of oil prices
w15442 Wolfgang Keller
International Trade, Foreign Direct Investment, and Technology Spillovers
w15448 Laura Alfaro
Anusha Chari

India Transformed? Insights from the Firm Level 1988-2005
w15450 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Rational Attention Allocation Over the Business Cycle
w15451 Daron Acemoglu
Philippe Aghion
Leonardo Bursztyn
David Hemous

The Environment and Directed Technical Change
w15455 Simon Johnson
William Larson
Chris Papageorgiou
Arvind Subramanian

Is Newer Better? Penn World Table Revisions and Their Impact on Growth Estimates
w15416 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Two Perspectives on Preferences and Structural Transformation
w15421 Claudia R. Sahm
Matthew D. Shapiro
Joel B. Slemrod

Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications
w15427 Peter Howitt
Ömer Özak

Adaptive Consumption Behavior
w15428 Diego A. Comin
Norman Loayza
Farooq Pasha
Luis Serven

Medium Term Business Cycles in Developing Countries
w15432 Enrique G. Mendoza
Vincenzo Quadrini

Financial Globalization, Financial Crises and Contagion
w15433 Maxim Pinkovskiy
Xavier Sala-i-Martin

Parametric Estimations of the World Distribution of Income
w15405 Stavros Panageas
Optimal taxation in the presence of bailouts
w15407 Alan J. Auerbach
William G. Gale

Activist Fiscal Policy to Stabilize Economic Activity
w15409 Hernán D. Rozenfeld
Diego Rybski
Xavier Gabaix
Hernán A. Makse

The Area and Population of Cities: New Insights from a Different Perspective on Cities
w15414 Ricardo Lagos
Guillaume Rocheteau
Pierre-Olivier Weill

Crises and Liquidity in Over-the-Counter Markets
w15404 Ravi Jagannathan
Mudit Kapoor
Ernst Schaumburg

Causes of the Great Recession of 2007-9: The Financial Crisis is the Symptom not the Disease!
w15394 Lawrence Christiano
Martin Eichenbaum
Sergio Rebelo

When is the government spending multiplier large?
w15399 François Gourio
Disasters Risk and Business Cycles
w15400 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Power Fluctuations and Political Economy
w15373 Robert S. Pindyck
Neng Wang

The Economic and Policy Consequences of Catastrophes
w15375 José-Víctor Ríos-Rull
Frank Schorfheide
Cristina Fuentes-Albero
Maxym Kryshko
Raül Santaeulàlia-Llopis

Methods versus Substance: Measuring the Effects of Technology Shocks on Hours
w15377 Edward L. Glaeser
William R. Kerr
Giacomo A.M. Ponzetto

Clusters of Entrepreneurship
w15382 Yi-Li Chien
Harold L. Cole
Hanno Lustig

Is the Volatility of the Market Price of Risk due to Intermittent Portfolio Re-balancing?
w15385 Lars E.O. Svensson
Evaluating Monetary Policy
w15351 Robert J. Gordon
Misperceptions About the Magnitude and Timing of Changes in American Income Inequality
w15355 Raquel Fernández
Women's Rights and Development
w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth
w15359 Emi Nakamura
Jón Steinsson

Lost in Transit: Product Replacement Bias and Pricing to Market
w15362 Amir E. Khandani
Andrew W. Lo
Robert C. Merton

Systemic Risk and the Refinancing Ratchet Effect
w15368 Adi Brender
Allan Drazen

Do Leaders Affect Government Spending Priorities?
w15369 Robert J. Barro
Charles J. Redlick

Macroeconomic Effects from Government Purchases and Taxes
w15334 William N. Goetzmann
Liang Peng
Jacqueline Yen

The Subprime Crisis and House Price Appreciation
w15338 Urban Jermann
Vincenzo Quadrini

Macroeconomic Effects of Financial Shocks
w15340 Nicolae B. Gârleanu
Stavros Panageas
Jianfeng Yu

Technological Growth and Asset Pricing
w15343 Mathias Trabandt
Harald Uhlig

How Far Are We From The Slippery Slope? The Laffer Curve Revisited
w15348 John C. Haltiwanger
Ron S. Jarmin
C. J. Krizan

Mom-and-Pop Meet Big-Box: Complements or Substitutes?
w15349 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Development
w15312 Robert B. Barsky
Eric R. Sims

News Shocks
w15319 Diego A. Comin
Bart Hobijn

The CHAT Dataset
w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts
w15258 Lee E. Ohanian
What - or Who - Started the Great Depression?
w15290 Martin S. Feldstein
Economic Conditions and U.S. National Security in the 1930s and Today
w15296 Kenneth Judd
Lilia Maliar
Serguei Maliar

Numerically Stable Stochastic Simulation Approaches for Solving Dynamic Economic Models
w15299 Shawn Kantor
Alexander Whalley

Do Universities Generate Agglomeration Spillovers? Evidence from Endowment Value Shocks
w15302 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Political Economy of Ramsey Taxation
w15268 Francisco J. Buera
Yongseok Shin

Productivity Growth and Capital Flows: The Dynamics of Reforms
w15269 Eric M. Leeper
Anchoring Fiscal Expectations
w15273 Gary B. Gorton
Andrew Metrick

Haircuts
w15275 Asli Demirguc-Kunt
Ross Levine

Finance and Inequality: Theory and Evidence
w15281 Casey B. Mulligan
Means-Tested Mortgage Modification: Homes Saved or Income Destroyed?
w15282 Per Krusell
Toshihiko Mukoyama
Aysegul Sahin

Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations
w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
w15286 Xavier Gabaix
The Granular Origins of Aggregate Fluctuations
w15287 Alan S. Blinder
Alan B. Krueger

Alternative Measures of Offshorability: A Survey Approach
w15219 Long Chen
Lu Zhang

The stock market and aggregate employment
w15223 Gary B. Gorton
Andrew Metrick

Securitized Banking and the Run on Repo
w15225 Craig Burnside
Alexandra Tabova

Risk, Volatility, and the Global Cross-Section of Growth Rates
w15230 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Political Selection and Persistence of Bad Governments
w15234 Bennett T. McCallum
Causality, Structure, and the Uniqueness of Rational Expectations Equilibria
w15240 David Backus
Mikhail Chernov
Ian Martin

Disasters implied by equity index options
w15243 Fatih Guvenen
A Parsimonious Macroeconomic Model for Asset Pricing
w15247 Robert J. Barro
Tao Jin

On the Size Distribution of Macroeconomic Disasters
w15251 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

A Three State Model of Worker Flows in General Equilibrium
w15252 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Labor Market Outcomes: The Role of Choice and Chance
w15255 Emi Nakamura
Dawit Zerom

Accounting for Incomplete Pass-Through
w15257 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Consumption and Labor Supply with Partial Insurance: An Analytical Framework
w15227 Yosef Bonaparte
Russell Cooper

Costly Portfolio Adjustment
w15204 Anusha Chari
Peter Blair Henry
Diego Sasson

Capital Market Integration and Wages
w15208 David H. Romer
A New Data Set on Monetary Policy: The Economic Forecasts of Individual Members of the FOMC
w15192 Gian Luca Clementi
Thomas F. Cooley
Sonia Di Giannatale

A Theory of Firm Decline
w15193 Cristina Arellano
Yan Bai
Jing Zhang

Firm Dynamics and Financial Development
w15194 Mark Aguiar
Manuel Amador

Growth in the Shadow of Expropriation
w15199 J. Vernon Henderson
Adam Storeygard
David N. Weil

Measuring Economic Growth from Outer Space
w15176 Russell Cooper
Hubert Kempf
Dan Peled

Insulation Impossible: Fiscal Spillovers in a Monetary Union
w15182 Miles S. Kimball
Colter M. Mitchell
Arland D. Thornton
Linda C. Young-Demarco

Empirics on the Origins of Preferences: The Case of College Major and Religiosity
w15187 Yuriy Gorodnichenko
Serena Ng

Estimation of DSGE Models When the Data are Persistent
w15087 Orazio Attanasio
Katja Kaufmann

Educational Choices, Subjective Expectations, and Credit Constraints
w15158 Nuno Cassola
Ali Hortacsu
Jakub Kastl

The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds
w15159 Manuel Adelino
Kristopher Gerardi
Paul S. Willen

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization
w15160 Eric M. Leeper
Michael Plante
Nora Traum

Dynamics of Fiscal Financing in the United States
w15165 John B. Donaldson
Natalia Gershun
Marc P. Giannoni

Some Unpleasant General Equilibrium Implications of Executive Incentive Compensation Contracts
w15166 Mark Bils
Yongsung Chang
Sun-Bin Kim

Heterogeneity and Cyclical Unemployment
w15167 Philippe Aghion
Drew Fudenberg
Richard T. Holden

Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem
w15170 John Geanakoplos
Stephen P. Zeldes

Market Valuation of Accrued Social Security Benefits
w15129 Nicholas Bloom
Raffaella Sadun
John Van Reenen

The organization of firms across countries
w15133 Troy Davig
Eric M. Leeper

Monetary-Fiscal Policy Interactions and Fiscal Stimulus
w15138 Emmanuel Farhi
Jean Tirole

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts
w15153 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Government Investment and Fiscal Stimulus in the Short and Long Runs
w15155 Daron Acemoglu
Melissa Dell

Productivity Differences Between and Within Countries
w15113 James Feyrer
Jay C. Shambaugh

Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks
w15117 Michael W. L. Elsby
Matthew D. Shapiro

Stepping Off the Wage Escalator: The Effects of Wage Growth on Equilibrium Employment
w15119 Philippe Aghion
David Hemous
Enisse Kharroubi

Credit Constraints, Cyclical Fiscal Policy and Industry Growth
w15110 Paul Beaudry
Amartya Lahiri

Risk Allocation, Debt Fueled Expansion and Financial Crisis
w15111 Roozbeh Hosseini
Larry E. Jones
Ali Shourideh

Risk Sharing, Inequality and Fertility
w15094 Charles I. Jones
Paul M. Romer

The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital
w15072 Harald Uhlig
A Model of a Systemic Bank Run
w15063 Christopher Foote
Kristopher Gerardi
Lorenz Goette
Paul Willen

Reducing Foreclosures: No Easy Answers
w15065 William A. Brock
Steven N. Durlauf

Adoption Curves and Social Interactions
w15066 Eric A. Hanushek
Ludger Woessmann

Schooling, Cognitive Skills, and the Latin American Growth Puzzle
w15068 Frank R. Lichtenberg
The Quality of Medical Care, Behavioral Risk Factors, and Longevity Growth
w15050 Matthias Doepke
Fabrizio Zilibotti

Do International Labor Standards Contribute to the Persistence of the Child Labor Problem?
w15075 Charles Calomiris
Stanley D. Longhofer
William Miles

The (Mythical?) Housing Wealth Effect
w15080 Yuriy Gorodnichenko
Klara Sabirianova Peter
Dmitriy Stolyarov

Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income
w15049 Robert B. Barsky
Eric R. Sims

Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence
w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
w15052 Robert B. Barsky
The Japanese Bubble: A 'Heterogeneous' Approach
w15059 Nicola Fuchs-Schündeln
Dirk Krueger
Mathias Sommer

Inequality Trends for Germany in the Last Two Decades: A Tale of Two Countries
w15062 Emmanuel Farhi
Samuel Paul Fraiberger
Xavier Gabaix
Romain Ranciere
Adrien Verdelhan

Crash Risk in Currency Markets
w15025 Roger Farmer
Carine Nourry
Alain Venditti

Debt, Deficits and Finite Horizons: The Stochastic Case
w15026 Dario Caldara
Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez
Wen Yao

Computing DSGE Models with Recursive Preferences
w15029 Diego A. Comin
Mark Gertler
Ana Maria Santacreu

Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations
w15030 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage and Unemployment
w15034 Sebnem Kalemli-Ozcan
Elias Papaioannou
José-Luis Peydró

What Lies Beneath the Euro's Effect on Financial Integration: Currency Risk, Legal Harmonization, or Trade?
w15033 Dale T. Mortensen
Wage Dispersion in the Search and Matching Model with Intra-Firm Bargaining
w15002 James D. Hamilton
Causes and Consequences of the Oil Shock of 2007-08
w15003 George-Marios Angeletos
Jennifer La'O

Incomplete Information, Higher-Order Beliefs and Price Inertia
w15010 Andrew B. Abel
Janice C. Eberly
Stavros Panageas

Optimal Inattention to the Stock Market with Information Costs and Transactions Costs
w15011 Bulent Guler
Fatih Guvenen
Giovanni L. Violante

Joint-Search Theory: New Opportunities and New Frictions
w15015 Olivier J. Blanchard
Jean-Paul L'Huillier
Guido Lorenzoni

News, Noise, and Fluctuations: An Empirical Exploration
w15021 Roger E. A. Farmer
Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative
w14982 George-Marios Angeletos
Jennifer La'O

Noisy Business Cycles
w14996 Harald Uhlig
Monetary policy in Europe vs the US: what explains the difference?
w14997 Ricardo J. Caballero
Alp Simsek

Complexity and Financial Panics
w14960 Boyan Jovanovic
Peter L. Rousseau

Extensive and Intensive Investment over the Business Cycle
w14969 Betsey Stevenson
Justin Wolfers

The Paradox of Declining Female Happiness
w14943 Andrei Shleifer
Robert W. Vishny

Unstable Banking
w14950 Paul Beaudry
Bernd Lucke

Letting Different Views about Business Cycles Compete
w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization
w14938 Gita Gopinath
Pierre-Olivier Gourinchas
Chang-Tai Hsieh
Nicholas Li

Estimating the Border Effect: Some New Evidence
w14933 Julio J. Rotemberg
Altruistic Dynamic Pricing with Customer Regret
w14935 Marcela Eslava
John C. Haltiwanger
Adriana D. Kugler
Maurice Kugler

Trade Reforms and Market Selection: Evidence from Manufacturing Plants in Colombia
w14910 James Feyrer
Trade and Income -- Exploiting Time Series in Geography
w14905 Guido Menzio
Shouyong Shi

Efficient Search on the Job and the Business Cycle
w14914 Francisco J. Buera
Joseph Kaboski
Yongseok Shin

Finance and Development: A Tale of Two Sectors
w14915 Veronica Guerrieri
Robert Shimer
Randall Wright

Adverse Selection in Competitive Search Equilibrium
w14919 Troy Davig
Eric M. Leeper

Reply to "Generalizing the Taylor Principle: A Comment"
w14923 Chang-Tai Hsieh
Edward Miguel
Daniel Ortega
Francisco Rodriguez

The Price of Political Opposition: Evidence from Venezuela's Maisanta
w14925 Douglas W. Diamond
Raghuram G. Rajan

Fear of Fire Sales and the Credit Freeze
w14882 Hyungsik Roger Moon
Frank Schorfheide

Bayesian and Frequentist Inference in Partially Identified Models
w14883 Andrew Atkeson
V. V. Chari
Patrick Kehoe

Sophisticated Monetary Policies
w14887 Sebnem Kalemli-Ozcan
Elias Papaioannou
José Luis Peydró

Financial Regulation, Financial Globalization and the Synchronization of Economic Activity
w14898 Veronica Guerrieri
Péter Kondor

Fund Managers, Career Concerns, and Asset Price Volatility
w14901 Hamish Low
Costas Meghir
Luigi Pistaferri

Wage Risk and Employment Risk over the Life Cycle
w14902 Stefan Laséen
Lars E.O. Svensson

Anticipated Alternative Instrument-Rate Paths in Policy Simulations
w14862 Marvin Goodfriend
Robert G. King

The Great Inflation Drift
w14870 S. Boragan Aruoba
Frank Schorfheide

Sticky Prices Versus Monetary Frictions: An Estimation of Policy Trade-offs
w14872 Frank Schorfheide
Keith Sill
Maxym Kryshko

DSGE Model-Based Forecasting of Non-modelled Variables
w14873 Stefania Albanesi
Claudia Olivetti

Gender Roles and Medical Progress
w14874 Yuriy Gorodnichenko
Enrique G. Mendoza
Linda L. Tesar

The Finnish Great Depression: From Russia with Love
w14875 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez
Martín Uribe

Risk Matters: The Real Effects of Volatility Shocks
w14833 Francesc Ortega
Giovanni Peri

The Causes and Effects of International Migrations: Evidence from OECD Countries 1980-2005
w14846 Roger E.A. Farmer
Confidence, Crashes and Animal Spirits
w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk
w14850 Kaivan Munshi
Mark Rosenzweig

Why is Mobility in India so Low? Social Insurance, Inequality, and Growth
w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
w14816 Maurice Obstfeld
Time of Troubles: The Yen and Japan's Economy, 1985-2008
w14818 Laurence M. Ball
Hysteresis in Unemployment: Old and New Evidence
w14819 Fiona Murray
Philippe Aghion
Mathias Dewatripont
Julian Kolev
Scott Stern

Of Mice and Academics: Examining the Effect of Openness on Innovation
w14822 Francisco J. Buera
Joseph P. Kaboski

The Rise of the Service Economy
w14824 Pierpaolo Benigno
New-Keynesian Economics: An AS-AD View
w14805 Katharine G. Abraham
John C. Haltiwanger
Kristin Sandusky
James Spletzer

Exploring Differences in Employment between Household and Establishment Data
w14787 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Reset Price Inflation and the Impact of Monetary Policy Shocks
w14782 John F. Cogan
Tobias Cwik
John B. Taylor
Volker Wieland

New Keynesian versus Old Keynesian Government Spending Multipliers
w14764 Roland Bénabou
Groupthink: Collective Delusions in Organizations and Markets
w14768 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Quantitative Macroeconomics with Heterogeneous Households
w14770 Jess Benhabib
A Note on Regime Switching, Monetary Policy, and Multiple Equilibria
w14772 Lars Ljungqvist
Harald Uhlig

Optimal Endowment Destruction under Campbell-Cochrane Habit Formation
w14753 Matthew D. Shapiro
Joel B. Slemrod

Did the 2008 Tax Rebates Stimulate Spending?
w14754 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Risk Preferences in the PSID: Individual Imputations and Family Covariation
w14760 Robert J. Barro
José F. Ursúa

Stock-Market Crashes and Depressions
w14730 Jess Benhabib
Alberto Bisin

The distribution of wealth and fiscal policy in economies with finitely lived agents
w14732 Ricardo Reis
A Sticky-Information General-Equilibrium Model for Policy Analysis
w14740 Giuseppe Moscarini
Fabien Postel-Vinay

Large Employers Are More Cyclically Sensitive
w14743 Joseph G. Altonji
Anthony Smith
Ivan Vidangos

Modeling Earnings Dynamics
w14744 Daron Acemoglu
Amy Finkelstein
Matthew J. Notowidigdo

Income and Health Spending: Evidence from Oil Price Shocks
w14729 Casey Mulligan
What Caused the Recession of 2008? Hints from Labor Productivity
w14691 Maurice Obstfeld
International Finance and Growth in Developing Countries: What Have We Learned?
w14710 Roger E.A. Farmer
Tao Zha
Daniel F. Waggoner

Understanding Markov-Switching Rational Expectations Models
w14678 Frederic S. Mishkin
Is Monetary Policy Effective During Financial Crises?
w14680 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

Temperature and Income: Reconciling New Cross-Sectional and Panel Estimates
w14684 Martin S. Feldstein
Rethinking the Role of Fiscal Policy
w14688 Ricardo J. Caballero
Arvind Krishnamurthy

Global Imbalances and Financial Fragility
w14690 Angus S. Deaton
Instruments of development: Randomization in the tropics, and the search for the elusive keys to economic development
w14697 Nir Jaimovich
Seth Pruitt
Henry E. Siu

The Demand for Youth: Implications for the Hours Volatility Puzzle
w14630 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight and Information Flows
w14663 Michael G. Palumbo
Jonathan A. Parker

The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?
w14665 Jonathan A. Parker
Annette Vissing-Jorgensen

Who Bears Aggregate Fluctuations and How?
w14669 Monika Piazzesi
Martin Schneider

Momentum traders in the housing market: survey evidence and a search model
w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation
w14674 Jaap H. Abbring
Jeffrey R. Campbell

Last-In First-Out Oligopoly Dynamics
w14676 Michael Burda
Daniel S. Hamermesh

Unemployment, Market Work and Household Production
w14677 Jesús Fernández-Villaverde
The Econometrics of DSGE Models
w15611 Stefano Battiston
Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Joseph E. Stiglitz

Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk
w14644 Thomas Philippon
Ariell Reshef

Wages and Human Capital in the U.S. Financial Industry: 1909-2006
w14631 John B. Taylor
The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong
w14633 Eric A. Hanushek
Ludger Woessmann

Do Better Schools Lead to More Growth? Cognitive Skills, Economic Outcomes, and Causation
w14636 Indrit Hoxha
Sebnem Kalemli-Ozcan
Dietrich Vollrath

How Big are the Gains from International Financial Integration?
w14638 William D. Nordhaus
The Perils of the Learning Model For Modeling Endogenous Technological Change
w14639 Charles Yuji Horioka
Do Bequests Increase or Decrease Wealth Inequalities?
2008
w14617 Michael Elsby
Bart Hobijn
Aysegul Sahin

Unemployment Dynamics in the OECD
w14620 Michael Woodford
Information-Constrained State-Dependent Pricing
w14621 Olivier Coibion
Yuriy Gorodnichenko

Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation
w14629 Bernard Dumas
Andrew Lyasoff

Incomplete-Market Equilibria Solved Recursively on an Event Tree
w14604 Peter Blair Henry
Conrad Miller

Institutions vs. Policies: A Tale of Two Islands
w14605 Andrew Caplin
John Leahy

Trading Frictions and House Price Dynamics
w14612 Markus K. Brunnermeier
Deciphering the Liquidity and Credit Crunch 2007-08
w14581 Robert E. Hall
Equity Depletion from Government-Guaranteed Debt
w14584 Tommaso Monacelli
Roberto Perotti

Fiscal Policy, Wealth Effects, and Markups
w14586 Olivier Coibion
Yuriy Gorodnichenko

What Can Survey Forecasts Tell Us About Informational Rigidities?
w14595 Francisco J. Buera
Alexander Monge-Naranjo
Giorgio E. Primiceri

Learning the Wealth of Nations
w14547 Alejandro Justiniano
Bruce Preston

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?
w14551 Andrew Mountford
Harald Uhlig

What are the Effects of Fiscal Policy Shocks?
w14553 Harald Uhlig
The Slow Decline of East Germany
w14554 Gene M. Grossman
Esteban Rossi-Hansberg

Task Trade between Similar Countries
w14558 M. Ayhan Kose
Eswar S. Prasad
Marco E. Terrones

Does Openness to International Financial Flows Raise Productivity Growth?
w14560 Robert J. Gordon
Did Economics Cause World War II?
w14563 Alan S. Blinder
Jeremy B. Rudd

The Supply-Shock Explanation of the Great Stagflation Revisited
w14520 Rafael La Porta
Andrei Shleifer

The Unofficial Economy and Economic Development
w14521 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Financial Crash, Commodity Prices and Global Imbalances
w14529 Domenico Giannone
Michele Lenza
Lucrezia Reichlin

Business Cycles in the Euro Area
w14534 Bennett T. McCallum
Inflation Determination with Taylor Rules: Is New Keynesian Analysis Critically Flawed?
w14510 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model
w14514 Casey B. Mulligan
A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance
w14499 Angus Deaton
Alan Heston

Understanding PPPs and PPP-based national accounts
w14509 Diego A. Comin
An Exploration of the Japanese Slowdown during the 1990s
w14473 Markus K. Brunnermeier
Stefan Nagel
Lasse H. Pedersen

Carry Trades and Currency Crashes
w14480 Harold L. Cole
Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims
w14463 Jens H.E. Christensen
Francis X. Diebold
Glenn D. Rudebusch

An Arbitrage-Free Generalized Nelson-Siegel Term Structure Model
w14448 Louis Putterman
David N. Weil

Post-1500 Population Flows and the Long Run Determinants of Economic Growth and Inequality
w14449 Quamrul H. Ashraf
Ashley Lester
David N. Weil

When Does Improving Health Raise GDP?
w14452 Chris Edmond
Laura Veldkamp

Income Dispersion and Counter-Cyclical Markups
w14446 Casey Mulligan
Luke Threinen

Market Responses to the Panic of 2008
w14430 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?
w14437 Caroline M. Betts
Timothy J. Kehoe

Real Exchange Rate Movements and the Relative Price of Non-traded Goods
w14425 Gene M. Grossman
Esteban Rossi-Hansberg

External Economies and International Trade Redux
w14402 Christopher L. House
Fixed Costs and Long-Lived Investments
w14403 Raj Chetty
Emmanuel Saez

Optimal Taxation and Social Insurance with Endogenous Private Insurance
w14401 Takeo Hoshi
Anil K. Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan
w14391 Stefano Eusepi
Bruce Preston

Stabilizing Expectations under Monetary and Fiscal Policy Coordination
w14392 Patrick J. Kehoe
Virgiliu Midrigan

Temporary Price Changes and the Real Effects of Monetary Policy
w14395 Timothy J. Kehoe
Kim J. Ruhl

Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate
w14398 Gary B. Gorton
The Subprime Panic
w14399 Raj Chetty
Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods
w14400 Richard Rogerson
Market Work, Home Work and Taxes: A Cross Country Analysis
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?
w14383 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monopoly Power and Endogenous Product Variety: Distortions and Remedies
w14386 Jessica Wachter
Can Time-Varying Risk of Rare Disasters Explain Aggregate Stock Market Volatility?
w14389 Andrew T. Foerster
Pierre-Daniel G. Sarte
Mark W. Watson

Sectoral vs. Aggregate Shocks: A Structural Factor Analysis of Industrial Production
w14363 William Easterly
Can the West Save Africa?
w14369 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Raymond Owens III

Housing Externalities
w14342 Dongmei Li
Lu Zhang

Costly External Finance: Implications for Capital Markets Anomalies
w14345 Mohammad Arzaghi
Ernst R. Berndt
James C. Davis
Alvin J. Silk

Economic Factors Underlying the Unbundling of Advertising Agency Services
w14349 S. Boragan Aruoba
Francis X. Diebold
Chiara Scotti

Real-Time Measurement of Business Conditions
w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Costly Financial Intermediation in Neoclassical Growth Theory
w14357 William A. Brock
Steven N. Durlauf
Giacomo Rondina

Design Limits and Dynamic Policy Analysis
w14358 Gary B. Gorton
The Panic of 2007
w14322 James H. Stock
Mark W. Watson

Phillips Curve Inflation Forecasts
w14323 Olivier Coibion
Yuriy Gorodnichenko

Strategic Interaction Among Heterogeneous Price-Setters In An Estimated DSGE Model
w14329 Robert E. Hall
Alan B. Krueger

Wage Formation between Newly Hired Workers and Employers: Survey Evidence
w14335 Kaivan Munshi
Mark Rosenzweig

The Efficacy of Parochial Politics: Caste, Commitment, and Competence in Indian Local Governments
w14294 Charles W. Calomiris
Stanley D. Longhofer
William Miles

The Foreclosure-House Price Nexus: Lessons from the 2007-2008 Housing Turmoil
w14299 Xavier Gabaix
Power Laws in Economics and Finance
w14300 Steven J. Davis
R. Jason Faberman
John Haltiwanger
Ron Jarmin
Javier Miranda

Business Volatility, Job Destruction, and Unemployment
w14313 V.V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

New Keynesian Models: Not Yet Useful for Policy Analysis
w14282 Betsey Stevenson
Justin Wolfers

Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
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
w14262 Pol Antràs
Esteban Rossi-Hansberg

Organizations and Trade
w14259 Olivier J. Blanchard
The State of Macro
w14264 Antoni Estevadeordal
Alan M. Taylor

Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s
w14269 Francis X. Diebold
Kamil Yilmaz

Macroeconomic Volatility and Stock Market Volatility, Worldwide
w14266 Larry E. Jones
Alice Schoonbroodt
Michèle Tertilt

Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?
w14243 Lars Peter Hansen
Modeling the Long Run: Valuation in Dynamic Stochastic Economies
w14248 Chinhui Juhn
Sebnem Kalemli-Ozcan
Belgi Turan

HIV and Fertility in Africa: First Evidence from Population Based Surveys
w14215 Stephanie Schmitt-Grohe
Martin Uribe

What's News in Business Cycles
w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship
w14221 Edward E. Leamer
What's a Recession, Anyway?
w14222 Julio J. Rotemberg
Liquidity Needs in Economies with Interconnected Financial Obligations
w14223 James D. Hamilton
Daily Monetary Policy Shocks and the Delayed Response of New Home Sales
w14228 Markus K. Brunnermeier
Filippos Papakonstantinou
Jonathan A. Parker

An Economic Model of the Planning Fallacy
w14239 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Dynamics and Stability of Constitutions, Coalitions, and Clubs
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
w14181 Stefano Eusepi
Bruce Preston

Expectations, Learning and Business Cycle Fluctuations
w14184 Yuriy Gorodnichenko
Endogenous information, menu costs and inflation persistence
w14190 Jean Boivin
Marc P. Giannoni
Benoît Mojon

How Has the Euro Changed the Monetary Transmission?
w14171 Jordi Gali
Luca Gambetti

On the Sources of the Great Moderation
w14163 Bennett T. McCallum
Reconsideration of the P-Bar Model of Gradual Price Adjustment
w14164 Bennett T. McCallum
Determinacy, Learnability, and Plausibility in Monetary Policy Analysis: Additional Results
w14133 Robert E. Lucas
Jr.

Ideas and Growth
w14138 Benjamin F. Jones
The Knowledge Trap: Human Capital and Development Reconsidered
w14122 Elhanan Helpman
Oleg Itskhoki
Stephen Redding

Wages, Unemployment and Inequality with Heterogeneous Firms and Workers
w14128 Jess Benhabib
Shenghao Zhu

Age, Luck, and Inheritance
w14130 David Y. Albouy
The Colonial Origins of Comparative Development: An Investigation of the Settler Mortality Data
w14137 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger
Ian Rucker

Adjusted Estimates of Worker Flows and Job Openings in JOLTS
w14132 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

Climate Change and Economic Growth: Evidence from the Last Half Century
w14135 Fernando E. Alvarez
Francisco J. Buera
Robert E. Lucas
Jr.

Models of Idea Flows
w14151 James D. Hamilton
Macroeconomics and ARCH
w14112 Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Alberto Russo
Joseph E. Stiglitz

Financially Constrained Fluctuations in an Evolving Network Economy
w14114 Bruce Sacerdote
James Feyrer

Will the Stork Return to Europe and Japan? Understanding Fertility Within Developed Nations
w14092 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Optimal Monetary Policy in an Operational Medium-Sized DSGE Model
w14093 Ryan D. Edwards
The Cost of Uncertain Life Span
w14097 Alessandra Fogli
Laura Veldkamp

Nature or Nurture? Learning and the Geography of Female Labor Force Participation
w14050 Dani Rodrik
Second-Best Institutions
w14052 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

The Macroeconomic Implications of Rising Wage Inequality in the United States
w14054 A. Craig Burnside
Martin S. Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

Do Peso Problems Explain the Returns to the Carry Trade?
w14060 Laura Alfaro
Andrew Charlton
Fabio Kanczuk

Plant-Size Distribution and Cross-Country Income Differences
w14063 Nir Jaimovich
Henry E. Siu

The Young, the Old, and the Restless: Demographics and Business Cycle Volatility
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
w14015 George-Marios Angeletos
Private Sunspots and Idiosyncratic Investor Sentiment
w14019 Michael D. Bordo
Michael J. Dueker
David C. Wheelock

Inflation, Monetary Policy and Stock Market Conditions
w14018 W. Erwin Diewert
Saeed Heravi
Mick Silver

Hedonic Imputation versus Time Dummy Hedonic Indexes
w14028 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight: Analytics and Econometrics
w13990 Aurora Gómez Galvarriato
Jeffrey G. Williamson

Was It Prices, Productivity or Policy? The Timing and Pace of Latin American Industrialization after 1870
w14001 Emi Nakamura
Jón Steinsson

Monetary Non-Neutrality in a Multi-Sector Menu Cost Model
w14009 Frank R. Lichtenberg
Gautier Duflos

Pharmaceutical innovation and the longevity of Australians: a first look
w14000 Boyan Jovanovic
When Should Firms Invest in Old Capital?
w13970 Frederic S. Mishkin
Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?
w13889 Frederic S. Mishkin
Exchange Rate Pass-Through And Monetary Policy
w13979 John Geanakoplos
Stephen P. Zeldes

Reforming Social Security with Progressive Personal Accounts
w13982 Robert J. Gordon
Ian Dew-Becker

Controversies about the Rise of American Inequality: A Survey
w13983 Ellen R. McGrattan
Edward C. Prescott

Technology Capital and the U.S. Current Account
w13985 Valerie A. Ramey
Time Spent in Home Production in the 20th Century: New Estimates from Old Data
w13986 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Unemployment Trade-Off at Low Inflation
w13940 Robert J. Barro
José F. Ursúa

Macroeconomic Crises since 1870
w13955 Emmanuel Farhi
Jean Tirole

Competing Liquidities: Corporate Securities, Real Bonds and Bubbles
w13967 Raj Chetty
Moral Hazard vs. Liquidity and Optimal Unemployment Insurance
w13968 Edward Miguel
Sebastián M. Saiegh
Shanker Satyanath

National Cultures and Soccer Violence
w13943 John B. Taylor
John C. Williams

A Black Swan in the Money Market
w13948 Frederic S. Mishkin
Globalization, Macroeconomic Performance, and Monetary Policy
w13950 Robert W. Dimand
Barbara J. Spencer

Trevor Swan And The Neoclassical Growth Model
w13953 Martin S. Feldstein
Did Wages Reflect Growth in Productivity?
w13931 Orazio Attanasio
Adriana Kugler
Costas Meghir

Training Disadvantaged Youth in Latin America: Evidence from a Randomized Trial
w13907 Roland Bénabou
Ideology
w13906 Andrea Ferrero
Mark Gertler
Lars E.O. Svensson

Current Account Dynamics and Monetary Policy
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
w13919 Matthias Doepke
Michèle Tertilt

Women's Liberation: What's in It for Men?
w13920 John Haltiwanger
Stefano Scarpetta
Helena Schweiger

Assessing Job Flows Across Countries: The Role of Industry, Firm Size and Regulations
w13924 Aleksander Berentsen
Guido Menzio
Randall Wright

Inflation and Unemployment in the Long Run
w13911 Francesco Giavazzi
Michael McMahon

Policy Uncertainty and Precautionary Savings
w13904 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Acquisition and Under-Diversification
w13892 Lars E.O. Svensson
Noah Williams

Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach
w13893 Mark Aguiar
Erik Hurst

Deconstructing Lifecycle Expenditure
w13894 Noah Williams
Persistent Private Information
w13896 Hanno Lustig
Stijn Van Nieuwerburgh
Adrien Verdelhan

The Wealth-Consumption Ratio
w13897 Olivier Blanchard
Jordi Gali

Labor Markets and Monetary Policy: A New-Keynesian Model with Unemployment
w13870 Trevon D. Logan
Are Engel Curve Estimates of CPI Bias Biased?
w13871 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Implications of Indivisible Labor, Incomplete Markets, and Labor Market Frictions
w13872 Richard Rogerson
Lodewijk P. Visschers
Randall Wright

Labor Market Fluctuations in the Small and in the Large
w13876 Christopher D. Carroll
Jiri Slacalek
Martin Sommer

International Evidence on Sticky Consumption Growth
w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity
w13867 Melissa Bjelland
Bruce Fallick
John Haltiwanger
Erika McEntarfer

Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data
w13854 Yacine Aït-Sahalia
Michael W. Brandt

Consumption and Portfolio Choice with Option-Implied State Prices
w13866 Janice Eberly
Sergio Rebelo
Nicolas Vincent

Investment and Value: A Neoclassical Benchmark
w13829 Martin Eichenbaum
Nir Jaimovich
Sergio Rebelo

Reference Prices and Nominal Rigidities
w13834 Charles I. Jones
Intermediate Goods, Weak Links, and Superstars: A Theory of Economic Development
w13837 Mark Aguiar
Erik Hurst

The Increase in Leisure Inequality
w13840 Ian Dew-Becker
Robert J. Gordon

The Role of Labor Market Changes in the Slowdown of European Productivity Growth
w13814 Charles Engel
Jian Wang

International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
w13819 Giuseppe Moscarini
Francis G. Vella

Occupational Mobility and the Business Cycle
w13789 Erik Hurst
The Retirement of a Consumption Puzzle
w13794 Cristina Arellano
Narayana R. Kocherlakota

Internal Debt Crises and Sovereign Defaults
w13805 Emmanuel Farhi
Xavier Gabaix

Rare Disasters and Exchange Rates
w13769 J. Vernon Henderson
Anthony Venables

The Dynamics of City Formation
w13772 Fernando Alvarez
Robert Shimer

Search and Rest Unemployment
w13777 Michael W. L. Elsby
Ryan Michaels

Marginal Jobs, Heterogeneous Firms, & Unemployment Flows
w13779 Ricardo J. Caballero
Pierre Yared

Inflating the Beast: Political Incentives Under Uncertainty
w13755 Julio J. Rotemberg
Minimally Altruistic Wages and Unemployment in a Matching Model
w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship
w13761 Carmen M. Reinhart
Kenneth S. Rogoff

Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison
w13736 Jean Boivin
Marc Giannoni

Global Forces and Monetary Policy Effectiveness
w13741 Marco Del Negro
Frank Schorfheide

Forming Priors for DSGE Models (and How it Affects the Assessment of Nominal Rigidities)
w13749 Timothy Cogley
Giorgio E. Primiceri
Thomas J. Sargent

Inflation-Gap Persistence in the U.S.
w13751 Christina D. Romer
David H. Romer

The FOMC versus the Staff: Where Can Monetary Policymakers Add Value?
w13720 Emmanuel Farhi
Iván Werning

Optimal Savings Distortions with Recursive Preferences
w13724 Xavier Gabaix
Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance
w13731 Ariel Burstein
Christopher Kurz
Linda Tesar

Trade, Production Sharing, and the International Transmission of Business Cycles
2007
w13704 Edward L. Glaeser
Joseph Gyourko

Arbitrage in Housing Markets
w13705 Luis Garicano
Esteban Rossi-Hansberg

Organizing Growth
w13707 Matthias Doepke
Moshe Hazan
Yishay Maoz

The Baby Boom and World War II: A Macroeconomic Analysis
w13710 Edward L. Glaeser
Giacomo A.M. Ponzetto

Did the Death of Distance Hurt Detroit and Help New York?
w13689 Robert J. Barro
Jason Hwang

Religious Conversion in 40 Countries
w13680 Larry E. Jones
Alice Schoonbroodt

Complements versus Substitutes and Trends in Fertility Choice in Dynastic Models
w13682 John B. Taylor
Housing and Monetary Policy
w13685 John B. Taylor
The Explanatory Power of Monetary Policy Rules
w13690 Robert J. Barro
Rare Disasters, Asset Prices, and Welfare Costs
w13693 Todd Sinai
Nicholas S. Souleles

Net Worth and Housing Equity in Retirement
w13694 Sumit Agarwal
Chunlin Liu
Nicholas S. Souleles

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data
w13696 Edward L. Glaeser
The Economics Approach to Cities
w13692 Todd C. Neumann
Price V. Fishback
Shawn Kantor

The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal
w13662 Andres Rodriguez-Clare
Trade, Diffusion and the Gains from Openness
w13666 Yuriy Gorodnichenko
Using Firm Optimization to Evaluate and Estimate Returns to Scale
w13673 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Insurance and Opportunities: A Welfare Analysis of Labor Market Risk
w13639 Guido Lorenzoni
Inefficient Credit Booms
w13646 Florin Bilbiie
Fabio Ghironi
Marc J. Melitz

Endogenous Entry, Product Variety, and Business Cycles
w13650 Dirk Krueger
Hanno Lustig
Fabrizio Perri

Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data
w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow
w13619 Eswar S. Prasad
Raghuram G. Rajan
Arvind Subramanian

Foreign Capital and Economic Growth
w13629 Stefania Albanesi
Roc Armenter

Intertemporal Distortions in the Second best
w13611 Jens H. E. Christensen
Francis X. Diebold
Glenn D. Rudebusch

The Affine Arbitrage-Free Class of: Nelson-Siegel Term Structure Models
w13614 Dora Gicheva
Justine Hastings
Sofia Villas-Boas

Revisiting the Income Effect: Gasoline Prices and Grocery Purchases
w13615 Ricardo Reis
Mark W. Watson

Relative Goods' Prices, Pure Inflation, and the Phillips Correlation
w13555 YiLi Chien
Harold Cole
Hanno Lustig

A Multiplier Approach to Understanding the Macro Implications of Household Finance
w13588 Francis X. Diebold
Canlin Li
Vivian Z. Yue

Global Yield Curve Dynamics and Interactions: A Dynamic Nelson-Siegel Approach
w13590 George-Marios Angeletos
Alessandro Pavan

Policy with Dispersed Information
w13592 Jeremy Greenwood
Karen A. Kopecky

Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach
w13591 Juan Carlos Conesa
Timothy J. Kehoe
Kim J. Ruhl

Modeling Great Depressions: The Depression in Finland in the 1990s
w13603 Gary D. Hansen
Selo Imrohoroglu

Business Cycle Fluctuations and the Life Cycle: How Important is On-The-Job Skill Accumulation?
w13674 Andreas Hornstein
Per Krusell
Giovanni L. Violante

Frictional Wage Dispersion in Search Models: A Quantitative Assessment
w13580 Marvin Goodfriend
How the World Achieved Consensus on Monetary Policy
w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk
w13556 Argia M. Sbordone
Globalization and Inflation Dynamics: the Impact of Increased Competition
w13545 Joana Naritomi
Rodrigo R. Soares
Juliano J. Assunção

Rent Seeking and the Unveiling of 'De Facto' Institutions: Development and Colonial Heritage within Brazil
w13553 Robert J. Shiller
Understanding Recent Trends in House Prices and Home Ownership
w13548 Christina D. Romer
David H. Romer

Do Tax Cuts Starve the Beast: The Effect of Tax Changes on Government Spending
w13550 Branko Milanovic
Peter H. Lindert
Jeffrey G. Williamson

Measuring Ancient Inequality
w13560 Thomas Philippon
Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?
w13518 Frederic S. Mishkin
Housing and the Monetary Transmission Mechanism
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
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
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
w13499 Ellen R. McGrattan
Edward C. Prescott

Unmeasured Investment and the Puzzling U.S. Boom in the 1990s
w13500 Paul Beaudry
Patrick Francois

The Economics of Inefficient Technology Use
w13502 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Two Reasons Why Money and Credit May be Useful in Monetary Policy
w13515 Ellen McGrattan
Edward C. Prescott

Openness, Technology Capital, and Development
w13505 David G. Blanchflower
Is Unemployment More Costly Than Inflation?
w13506 David G. Blanchflower
Chris Shadforth

Fear, Unemployment and Migration
w13483 Jonathan Heathcote
Fabrizio Perri

The International Diversification Puzzle Is Not As Bad As You Think
w13487 Sumit Agarwal
John C. Driscoll
David Laibson

Optimal Mortgage Refinancing: A Closed Form Solution
w13471 Martin S. Feldstein
Housing, Credit Markets and the Business Cycle
w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction
w13444 Nir Jaimovich
Sergio Rebelo

News and Business Cycles in Open Economies
w13448 Andrew Ang
Sen Dong
Monika Piazzesi

No-Arbitrage Taylor Rules
w13455 Ariel Burstein
Christian Hellwig

Prices and Market Shares in a Menu Cost Model
w13425 Hess Chung
Eric M. Leeper

What Has Financed Government Debt?
w13432 Gita Gopinath
Oleg Itskhoki
Roberto Rigobon

Currency Choice and Exchange Rate Pass-through
w13428 Edward E. Leamer
Housing IS the Business Cycle
w13430 Xavier Gabaix
Linearity-Generating Processes: A Modelling Tool Yielding Closed Forms for Asset Prices
w13437 Thomas Philippon
Ariell Reshef

Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector
w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.
w13406 Roger E. A. Farmer
Aggregate Demand and Supply
w13409 John H. Cochrane
Determinacy and Identification with Taylor Rules
w13410 John H. Cochrane
Determinacy and Identification with Taylor Rules
w13412 Enrique G. Mendoza
Vincenzo Quadrini
José-Victor Ríos-Rull

On the Welfare Implications of Financial Globalization without Financial Development
w13414 Lars E.O. Svensson
Noah M. Williams

Bayesian and Adaptive Optimal Policy under Model Uncertainty
w13416 Fernando E. Alvarez
Francesco Lippi

Financial Innovation and the Transactions Demand for Cash
w13421 Robert Shimer
Reassessing the Ins and Outs of Unemployment
w13385 Nicholas Bloom
The Impact of Uncertainty Shocks
w13404 Andreas Beyer
Roger E. A. Farmer
Jérôme Henry
Massimiliano Marcellino

Factor Analysis in a Model with Rational Expectations
w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete
w13391 Alan S. Blinder
John Morgan

Leadership in Groups: A Monetary Policy Experiment
w13392 Kerwin Kofi Charles
Erik Hurst
Nikolai Roussanov

Conspicuous Consumption and Race
w13394 Fatih Guvenen
An Empirical Investigation of Labor Income Processes
w13397 Jon Faust
Jonathan H. Wright

Comparing Greenbook and Reduced Form Forecasts using a Large Realtime Dataset
w13398 Andrew Atkeson
V. V. Chari
Patrick J. Kehoe

On the Optimal Choice of a Monetary Policy Instrument
w13361 Ralph S.J. Koijen
Otto Van Hemert
Stijn Van Nieuwerburgh

Mortgage Timing
w13362 Borys Grochulski
Narayana Kocherlakota

Nonseparable Preferences and Optimal Social Security Systems
w13363 Igor Livshits
James MacGee
Michèle Tertilt

Accounting for the Rise in Consumer Bankruptcies
w13366 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Immobility and the Home Bias Puzzle
w13368 Olivier J. Blanchard
Jordi Gali

The Macroeconomic Effects of Oil Shocks: Why are the 2000s So Different from the 1970s?
w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium
w13373 Raquel Fernandez
Culture as Learning: The Evolution of Female Labor Force Participation over a Century
w13352 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment
w13353 Mark Aguiar
Manuel Amador
Gita Gopinath

Investment Cycles and Sovereign Debt Overhang
w13354 Andrew B. Abel
Optimal Capital Income Taxation
w13357 A. Craig Burnside
Empirical Asset Pricing and Statistical Power in the Presence of Weak Risk Factors
w13314 David Laibson
Andrea Repetto
Jeremy Tobacman

Estimating Discount Functions with Consumption Choices over the Lifecycle
w13315 Simon Gilchrist
Jae W. Sim

Investment during the Korean Financial Crisis: A Structural Econometric Analysis
w13317 Angus Deaton
Income, Aging, Health and Wellbeing Around the World: Evidence from the Gallup World Poll
w13319 David de la Croix
Matthias Doepke

To Segregate or to Integrate: Education Politics and Democracy
w13326 Andrew Atkeson
Ariel Burstein

Innovation, firm dynamics, and international trade
w13328 Morten O. Ravn
Stephanie Schmitt-Grohé
Martín Uribe

Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
w13337 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Imputing Risk Tolerance from Survey Responses
w13325 Michael Woodford
How Important is Money in the Conduct of Monetary Policy?
w13334 Daron Acemoglu
Simon Johnson
James A. Robinson
Pierre Yared

Reevaluating the Modernization Hypothesis
w13310 Tai-wei Hu
John Kennan
Neil Wallace

Coalition-Proof Trade and the Friedman Rule in the Lagos-Wright Model
w13299 Thorsten Beck
Ross Levine
Alexey Levkov

Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution
w13302 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Growth and Industry Age
w13307 Boyan Jovanovic
Investment Options and the Business Cycle
w13286 Robert E. Lucas
Jr.

Trade and the Diffusion of the Industrial Revolution
w13287 Dale T. Mortensen
Island Matching
w13290 Chang-Tai Hsieh
Peter J. Klenow

Misallocation and Manufacturing TFP in China and India
w13278 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Understanding the Forward Premium Puzzle: A Microstructure Approach
w13282 Long Chen
Lu Zhang

Neoclassical Factors
w13269 Jeffrey I. Bernstein
Theofanis P. Mamuneas

Irreversible Investment, Capital Costs and Productivity Growth: Implications for Telecommunications
w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets
w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing
w13254 Fabio Braggion
Lawrence J. Christiano
Jorge Roldos

Optimal Monetary Policy in a 'Sudden Stop'
w13259 Stefano Eusepi
Bruce Preston

Central Bank Communication and Expectations Stabilization
w13260 Bruce Preston
Mauro Roca

Incomplete Markets, Heterogeneity and Macroeconomic Dynamics
w13264 Christina D. Romer
David H. Romer

The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
w13231 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage in Cyclical Unemployment
w13241 Pol Antràs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective
w13209 Kiminori Matsuyama
Aggregate Implications of Credit Market Imperfections
w13221 David E. Bloom
David Canning
Günther Fink
Jocelyn E. Finlay

Does Age Structure Forecast Economic Growth?
w13224 Mark Huggett
Gustavo Ventura
Amir Yaron

Sources of Lifetime Inequality
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
w13191 Sumit Agarwal
John C. Driscoll
Xavier Gabaix
David Laibson

The Age of Reason: Financial Decisions Over the Lifecycle
w13196 Ravi Bansal
Long-Run Risks and Financial Markets
w13198 Satyajit Chatterjee
Esteban Rossi-Hansberg

Spin-offs and the Market for Ideas
w13199 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monetary Policy and Business Cycles with Endogenous Entry and Product Variety
w13200 Marco Bassetto
Vadym Lepetyuk

Government Investment and the European Stability and Growth Pact
w13204 Veronica Guerrieri
Guido Lorenzoni

Liquidity and Trading Dynamics
w13207 Marvin Goodfriend
Bennett T. McCallum

Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration
w13174 Simon Gilchrist
Egon Zakrajsek

Investment and the Cost of Capital: New Evidence from the Corporate Bond Market
w13179 Stefania Albanesi
Claudia Olivetti

Gender Roles and Technological Progress
w13184 Robert W. Fogel
Capitalism and Democracy in 2040: Forecasts and Speculations
w13180 Philippe Aghion
Alberto Alesina
Francesco Trebbi

Democracy, Technology, and Growth
w13166 Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez

How Structural Are Structural Parameters?
w13171 Randall Morck
Masao Nakamura

Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth
w13147 Frederic S. Mishkin
Inflation Dynamics
w13162 Lena Edlund
Wojciech Kopczuk

Women, Wealth and Mobility
w13143 Roberto Perotti
In Search of the Transmission Mechanism of Fiscal Policy
w13150 Torsten Persson
Guido Tabellini

The Growth Effect of Democracy: Is It Heterogenous and How Can It Be Estimated?
w13157 Francois Gourio
Anil K. Kashyap

Investment Spikes: New Facts and a General Equilibrium Exploration
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
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
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
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
w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q
w13095 Fatih Guvenen
Burhanettin Kuruscu

A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000
w13096 Fatih Guvenen
Burhanettin Kuruscu

Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis
w13099 Marco Del Negro
Frank Schorfheide

Monetary Policy Analysis with Potentially Misspecified Models
w13073 Ariel Burstein
Alexander Monge-Naranjo

Foreign Know-How, Firm Control, and the Income of Developing Countries
w13076 Fernando A. Broner
Guido Lorenzoni
Sergio L. Schmukler

Why Do Emerging Economies Borrow Short Term?
w13077 Ricardo J. Caballero
Guido Lorenzoni

Persistent Appreciations and Overshooting: A Normative Analysis
w13084 Joshua Aizenman
Mark Spiegel

Takeoffs
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
w13067 William Adams
Liran Einav
Jonathan Levin

Liquidity Constraints and Imperfect Information in Subprime Lending
w13055 Joan R. Rosés
Kevin H. O'Rourke
Jeffrey G. Williamson

Globalization, Growth and Distribution in Spain 1500-1913
w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital
w13041 Christian Broda
David E. Weinstein

Product Creation and Destruction: Evidence and Price Implications
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
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
w13024 Laura X. L. Liu
Toni Whited
Lu Zhang

Regularities
w13030 Bjoern Bruegemann
Giuseppe Moscarini

Rent Rigidity, Asymmetric Information, and Volatility Bounds in Labor Markets
w13007 Lei Fang
Richard Rogerson

Policy Analysis in a Matching Model with Intensive and Extensive Margins
t0336 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth
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
w12986 Joao F. Gomes
Leonid Kogan
Motohiro Yogo

Durability of Output and Expected Stock Returns
w12994 Orazio Attanasio
Nicola Pavoni

Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption
w12957 Monika Piazzesi
Martin Schneider

Inflation Illusion, Credit, and Asset Pricing
w12959 Emmanuel Farhi
Mikhail Golosov
Aleh Tsyvinski

A Theory of Liquidity and Regulation of Financial Intermediation
w12961 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Incomplete Cost Pass-Through Under Deep Habits
w12965 Roger E.A. Farmer
Daniel F. Waggoner
Tao Zha

Understanding the New-Keynesian Model when Monetary Policy Switches Regimes
w12945 Ricardo J. Caballero
Eduardo M.R.A. Engel

Price Stickiness in Ss Models: New Interpretations of Old Results
w12948 Lars Peter Hansen
Beliefs, Doubts and Learning: Valuing Economic Risk
w12940 Markus K. Brunnermeier
Christian Gollier
Jonathan A. Parker

Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns
w12916 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

The Returns to Currency Speculation in Emerging Markets
w12917 Matthias Doepke
Fabrizio Zilibotti

Occupational Choice and the Spirit of Capitalism
w12925 Olivier Blanchard
Current Account Deficits in Rich Countries
w12896 Ricardo J. Caballero
Arvind Krishnamurthy

Collective Risk Management in a Flight to Quality Episode
w12898 Guido Lorenzoni
News Shocks and Optimal Monetary Policy
w12909 Enrique G. Mendoza
Vincenzo Quadrini
Jose-Victor Rios-Rull

Financial Integration, Financial Deepness and Global Imbalances
w12911 Abhijit Banerjee
Lakshmi Iyer
Rohini Somanathan

Public Action for Public Goods
w12886 Diego Comin
Bart Hobijn

Implementing Technology
w12888 Raquel Fernandez
Women, Work, and Culture
w12889 Richard Rogerson
Structural Transformation and the Deterioration of European Labor Market Outcomes
w12890 Richard Rogerson
Taxation and Market Work: Is Scandinavia an Outlier?
w12891 Lei Fang
Richard Rogerson

Product Market Regulation and Market Work: A Benchmark Analysis
w12880 Juan Carlos Conesa
Sagiri Kitao
Dirk Krueger

Taxing Capital? Not a Bad Idea After All!
w12881 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Demand for Treasury Debt
w12876 Frederic S. Mishkin
Klaus Schmidt-Hebbel

Does Inflation Targeting Make a Difference?
w12853 Michael W. Elsby
Ryan Michaels
Gary Solon

The Ins and Outs of Cyclical Unemployment
w12854 Elizabeth M. Caucutt
Thomas F. Cooley
Nezih Guner

The Farm, the City, and the Emergence of Social Security
w12861 Andrew Atkeson
Ariel Burstein

Pricing-to-Market in a Ricardian Model of International Trade
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
w12841 Nicholas Bloom
Uncertainty and the Dynamics of R&D
w12845 Aubhik Khan
Julia Thomas

Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics
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
2006
w12804 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Price and Capacity Competition
w12809 Markus K. Brunnermeier
Stefan Nagel

Do Wealth Fluctuations Generate Time-varying Risk Aversion? Micro-Evidence on Individuals' Asset Allocation
w12810 Markus K. Brunnermeier
Christian Julliard

Money Illusion and Housing Frenzies
w12801 Joseph Cullen
Price V. Fishback

Did Big Government's Largesse Help the Locals? The Implications of WWII Spending for Local Economic Activity, 1939-1958
w12806 Romain Ranciere
Aaron Tornell
Frank Westermann

Decomposing the Effects of Financial Liberalization: Crises vs. Growth
t0332 Jean Boivin
Marc Giannoni

DSGE Models in a Data-Rich Environment
w12791 Fernando Alvarez
Marcelo Veracierto

Fixed-Term Employment Contracts in an Equilibrium Search Model
w12797 Laurent E. Calvet
Adlai J. Fisher

Multifrequency Jump-Diffusions: An Equilibrium Approach
w12772 Jean Boivin
Marc Giannoni

DSGE Models in a Data-Rich Environment
w12775 Daron Acemoglu
Ufuk Akcigit

State-Dependent Intellectual Property Rights Policy
w12778 George-Marios Angeletos
Alessandro Pavan

Socially Optimal Coordination: Characterization and Policy Implications
w12786 Lee Ohanian
Andrea Raffo
Richard Rogerson

Long-Term Changes in Labor Supply and Taxes: Evidence from OECD Countries, 1956-2004
w12769 Michele Boldrin
David K. Levine

Growth and Intellectual Property
w12763 Robert J. Barro
On the Welfare Costs of Consumption Uncertainty
w12768 Steven J. Davis
Magnus Henrekson

Economic Performance and Work Activity in Sweden after the Crisis of the Early 1990s
w12746 Christopher D. Carroll
Misuzu Otsuka
Jirka Slacalek

How Large Is the Housing Wealth Effect? A New Approach
w12748 Daron Acemoglu
Davide Ticchi
Andrea Vindigni

Emergence and Persistence of Inefficient States
w12751 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Party Influence in Congress and the Economy
w12753 Ricardo J. Caballero
On the Macroeconomics of Asset Shortages
w12755 Chong-En Bai
Chang-Tai Hsieh
Yingyi Qian

The Return to Capital in China
w12735 Angus Deaton
Global Patterns of Income and Health: Facts, Interpretations, and Policies
w12740 Stephanie Schmitt-Grohe
Martin Uribe

Comparing Two Variants of Calvo-Type Wage Stickiness
w12741 William D. Nordhaus
The "Stern Review" on the Economics of Climate Change
w12721 Gene M. Grossman
Esteban Rossi-Hansberg

Trading Tasks: A Simple Theory of Offshoring
w12723 Charles Yuji Horioka
Junmin Wan

The Determinants of Household Saving in China: A Dynamic Panel Analysis of Provincial Data
w12731 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Pricing to Habits and the Law of One Price
w12708 Alessandra Fogli
Fabrizio Perri

The "Great Moderation" and the US External Imbalance
w12710 Paul Beaudry
Fabrice Collard
Franck Portier

Gold Rush Fever in Business Cycles
w12687 Laurence M. Ball
Has Globalization Changed Inflation?
w12698 Peter Blair Henry
Capital Account Liberalization: Theory, Evidence, and Speculation
w12677 Diego A. Comin
Bart Hobijn
Emilie Rovito

World Technology Usage Lags
w12672 Pierpaolo Benigno
Michael Woodford

Linear-Quadratic Approximation of Optimal Policy Problems
w12671 Ulrich Mueller
Mark W. Watson

Testing Models of Low-Frequency Variability
w12665 Matthias Doepke
Dirk Krueger

Origins and Consequences of Child Labor Restrictions: A Macroeconomic Perspective
w12666 Hugh Rockoff
On the Origins of "A Monetary History"
w12647 Lawrence J. Christiano
Joshua M. Davis

Two Flaws In Business Cycle Accounting
w12648 Daron Acemoglu
Victor Chernozhukov
Muhamet Yildiz

Learning and Disagreement in an Uncertain World
w12652 Eliot A. Jamison
Dean T. Jamison
Eric A. Hanushek

The Effects of Education Quality on Income Growth and Mortality Decline
w12656 Timothy J. Kehoe
David K. Levine

Bankruptcy and Collateral in Debt Constrained Markets
w12657 Diego Comin
William Easterly
Erick Gong

Was the Wealth of Nations Determined in 1000 B.C.?
w12629 Javier García-Cicco
Roberto Pancrazi
Martín Uribe

Real Business Cycles in Emerging Countries?
w12634 Dirk Krueger
Hanno Lustig

When is Market Incompleteness Irrelevant for the Price of Aggregate Risk (and when is it not)?
w12639 David Card
Raj Chetty
Andrea Weber

Cash-on-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market
w12637 Dale F. Gray
Robert C. Merton
Zvi Bodie

A New Framework for Analyzing and Managing Macrofinancial Risks of an Economy
w12605 N. Gregory Mankiw
Ricardo Reis

Sticky Information in General Equilibrium
w12606 Thomas Sargent
Noah Williams
Tao Zha

The Conquest of South American Inflation
w12609 Monika Piazzesi
Martin Schneider

Equilibrium Yield Curves
w12610 Robert H. Bates
John H. Coatsworth
Jeffrey G. Williamson

Lost Decades: Lessons from Post-Independence Latin America for Today's Africa
w12614 Christian Hellwig
Guido Lorenzoni

Bubbles and Self-Enforcing Debt
w12618 Robert Shimer
Ivan Werning

Reservation Wages and Unemployment Insurance
w12621 David E. Bloom
David Canning
Rick Mansfield
Michael Moore

Demographic Change, Social Security Systems, and Savings
w12611 Michael W. Elsby
Evaluating the Economic Significance of Downward Nominal Wage Rigidity
w12601 Edward L. Glaeser
Bryce A. Ward

The Causes and Consequences of Land Use Regulation: Evidence from Greater Boston
w12600 Emmanuel Farhi
Ivan Werning

Progressive Estate Taxation
w12575 Patrick J. Kehoe
How to Advance Theory with Structural VARs: Use the Sims-Cogley-Nason Approach
w12581 Alberto Alesina
Joseph Zeira

Technology and Labor Regulations
w12584 Roger E. A. Farmer
Andrew Hollenhorst

Shooting the Auctioneer
w12555 Dmitry Livdan
Horacio Sapriza
Lu Zhang

Financially Constrained Stock Returns
w12557 Laura Veldkamp
Justin Wolfers

Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement
w12565 Dani Rodrik
Understanding South Africa's Economic Puzzles
w12564 Enrique G. Mendoza
Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints:A Fisherian Deflation of Tobin's Q
w12569 David Joulfaian
Inheritance and Saving
w12566 Claustre Bajona
Timothy J. Kehoe

Demographics in Dynamic Heckscher-Ohlin Models: Overlapping Generations Versus Infinitely Lived Consumers
w12567 Claustre Bajona
Timothy J. Kehoe

Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model
w12570 Nir Jaimovich
Sergio Rebelo

Behavioral Theories of the Business Cycle
w12546 James Feyrer
Bruce Sacerdote

Colonialism and Modern Income -- Islands as Natural Experiments
w12549 Jeffrey G. Williamson
Poverty Traps, Distance, and Diversity: The Migration Connection
w12537 Nir Jaimovich
Sergio Rebelo

Can News About the Future Drive the Business Cycle?
w12538 Stijn Van Nieuwerburgh
Pierre-Olivier Weill

Why Has House Price Dispersion Gone Up?
w12539 Frank R. Lichtenberg
Importation and Innovation
w12540 Roger E. A. Farmer
Daniel F. Waggoner
Tao Zha

Indeterminacy in a Forward Looking Regime Switching Model
w12521 Paul Beaudry
Mark Doms
Ethan Lewis

Endogenous Skill Bias in Technology Adoption: City-Level Evidence from the IT Revolution
w12526 E. Han Kim
Adair Morse
Luigi Zingales

What Has Mattered to Economics Since 1970
w12520 Boyan Jovanovic
Chung-Yi Tse

Creative Destruction in Industries
w12515 Frederic S. Mishkin
Monetary Policy Strategy: How Did We Get Here?
w12514 Christopher House
Matthew D. Shapiro

Temporary Investment Tax Incentives: Theory with Evidence from Bonus Depreciation
w12489 Craig Burnside
Martin Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

The Returns to Currency Speculation
w12498 Mark Gertler
Antonella Trigari

Unemployment Fluctuations With Staggered Nash Wage Bargaining
w12474 Ramon Marimon
Vincenzo Quadrini

Competition, Innovation and Growth with Limited Commitment
w12475 Daron Acemoglu
Veronica Guerrieri

Capital Deepening and Non-Balanced Economic Growth
w12476 Patrick Kehoe
Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy
w12477 Guido Lorenzoni
A Theory of Demand Shocks
w12486 Laarni Bulan
Christopher J. Mayer
C. Tsuriel Somerville

Irreversible Investment, Real Options, and Competition: Evidence from Real Estate Development
w12456 Orazio Attanasio
Margherita Borella

Stochastic Components of Individual Consumption: A Time Series Analysis of Grouped Data
w12462 Thomas Philippon
The Bond Market's q
w12467 Raj Chetty
Adam Szeidl

Consumption Commitments and Risk Preferences
w12441 Bennett T. McCallum
E-Stability vis-a-vis Determinacy Results for a Broad Class of Linear Rational Expectations Models
w12453 Dirk Krueger
Alexander Ludwig

On the Consequences of Demographic Change for Rates of Returns to Capital, and the Distribution of Wealth and Welfare
w12433 Rajnish Mehra
Recursive Competitive Equilibrium
w12434 Rajnish Mehra
The Equity Premium in India
w12435 Fredrik Andersson
Matthew Freedman
John C. Haltiwanger
Julia Lane
Kathryn L. Shaw

Reaching for the Stars: Who Pays for Talent in Innovative Industries?
t0326 Kenneth D. West
Todd Clark

Approximately Normal Tests for Equal Predictive Accuracy in Nested Models
w12421 Morten O. Ravn
The Consumption-Tightness Puzzle
w12415 Julio J. Rotemberg
Cyclical Wages in a Search-and-Bargaining Model with Large Firms
w12419 Stefania Albanesi
Optimal Taxation of Entrepreneurial Capital with Private Information
w12400 Alisdair McKay
Ricardo Reis

The Brevity and Violence of Contractions and Expansions
w12402 Stephanie Schmitt-Grohé
Martín Uribe

Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version
w12405 Troy Davig
Eric M. Leeper

Endogenous Monetary Policy Regime Change
w12412 Orazio P. Attanasio
Monica Paiella

Intertemporal Consumption Choices, Transaction Costs and Limited Participation to Financial Markets: Reconciling Data and Theory
w12383 Nick Bloom
John Van Reenen
Stephen Bond

Uncertainty and Investment Dynamics
w12384 Frederic S. Mishkin
Niklas J. Westelius

Inflation Band Targeting and Optimal Inflation Contracts
w12388 Kerwin Kofi Charles
Melvin Stephens
Jr.

The Level and Composition of Consumption Over the Business Cycle: The Role of "Quasi-Fixed" Expenditures
w12394 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Economic Growth: Is What's Good for General Motors Good for America?
w12395 Takatoshi Ito
Kiyotaka Sato

Exchange Rate Changes and Inflation in Post-Crisis Asian Economies: VAR Analysis of the Exchange Rate Pass-Through
w12398 N. Gregory Mankiw
Phillip Swagel

The Politics and Economics of Offshore Outsourcing
w12365 Xavier Gabaix
Augustin Landier

Why Has CEO Pay Increased So Much?
w12362 John Y. Campbell
Jens Hilscher
Jan Szilagyi

In Search of Distress Risk
w12349 N. Gregory Mankiw
The Macroeconomist as Scientist and Engineer
w12351 Charles Yuji Horioka
The Dissaving of the Aged Revisited: The Case of Japan
w12353 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

Assessing Structural VARs
w12354 Steven J. Davis
John Haltiwanger
Ron Jarmin
Javier Miranda

Volatility and Dispersion in Business Growth Rates: Publicly Traded versus Privately Held Firms
w12319 Matthias Doepke
Martin Schneider

Inflation as a Redistribution Shock: Effects on Aggregates and Welfare
w12324 James H. Stock
Mark W. Watson

Why Has U.S. Inflation Become Harder to Forecast?
w12330 Miki Kohara
Charles Yuji Horioka

Do Borrowing Constraints Matter? An Analysis of Why the Permanent Income Hypothesis Does Not Apply in Japan
w12331 Janna L. Matlack
Jacob L. Vigdor

Do Rising Tides Lift All Prices? Income Inequality and Housing Affordability
w12336 Ruediger Bachmann
Ricardo J. Caballero
Eduardo M.R.A. Engel

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
w12341 Gary D. Hansen
Selahattin Imrohoroglu

Consumption Over the Life Cycle: The Role of Annuities
w12308 Urban Jermann
Vincenzo Quadrini

Financial Innovations and Macroeconomic Volatility
w12309 Paul Willen
Felix Kubler

Collateralized Borrowing and Life-Cycle Portfolio Choice
w12311 Robert J. Gordon
The Boskin Commission Report: A Retrospective One Decade Later
w12314 Diego Comin
Bart Hobiijn

An Exploration of Technology Diffusion
w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption
w12290 Andrew B. Abel
Equity Premia with Benchmark Levels of Consumption: Closed-Form Results
w12275 Philippe Aghion
Diego Comin
Peter Howitt

When Does Domestic Saving Matter for Economic Growth?
w12269 Daron Acemoglu
Simon Johnson

Disease and Development: The Effect of Life Expectancy on Economic Growth
w12268 Yuriy Gorodnichenko
Matthew D. Shapiro

Monetary Policy When Potential Output is Uncertain: Understanding the Growth Gamble of the 1990s
w12264 Valerie A. Ramey
Neville Francis

A Century of Work and Leisure
w12260 Martín Uribe
Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome
w12212 Stefania Albanesi
Claudia Olivetti

Home Production, Market Production and the Gender Wage Gap: Incentives and Expectations
w12218 William D. Nordhaus
Baumol's Diseases: A Macroeconomic Perspective
w12224 Daron Acemoglu
Michael Golosov
Aleh Tsyvinski

Markets Versus Governments: Political Economy of Mechanisms
w12230 Robert Shimer
Iván Werning

On the Optimal Timing of Benefits with Heterogeneous Workers and Human Capital Depreciation
w12231 Chad Syverson
Prices, Spatial Competition, and Heterogenous Producers: An Empirical Test
w12243 Giorgio E. Primiceri
Ernst Schaumburg
Andrea Tambalotti

Intertemporal Disturbances
w12200 Justin Wolfers
Eric Zitzewitz

Interpreting Prediction Market Prices as Probabilities
w12206 Daron Acemoglu
Philippe Aghion
Claire Lelarge
John Van Reenen
Fabrizio Zilibotti

Technology, Information and the Decentralization of the Firm
jorg06-1 Dale Jorgenson
J. Steven Landefeld
and William D. Nordhaus
editors

A New Architecture for the U.S. National Accounts
w12117 Philippe Aghion
Philippe Bacchetta
Romain Ranciere
Kenneth Rogoff

Exchange Rate Volatility and Productivity Growth: The Role of Financial Development
w12181 Sebnem Kalemli-Ozcan
AIDS, "Reversal" of the Demographic Transition and Economic Development: Evidence from Africa
w12190 Allan Drazen
Marcela Eslava

Pork Barrel Cycles
w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan
w12130 Ellen R. McGrattan
Lee E. Ohanian

Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II
w12136 Ricardo J. Caballero
Arvind Krishnamurthy

Flight to Quality and Collective Risk Management
w12142 Charles Yuji Horioka
The Causes of Japan's "Lost Decade": The Role of Household Consumption
w12149 John Y. Campbell
Household Finance
w12153 Enrico Spolaore
Romain Wacziarg

The Diffusion of Development
w12168 Martin Feldstein
The 2006 Economic Report of the President: Comment on Chapter One (The Year in Review) and Chapter Six (The Capital Account Surplus)
gert06-1 Mark Gertler and Kenneth Rogoff
editors

NBER Macroeconomics Annual 2005, Volume 20
w12128 Edward Glaeser
Giacomo Ponzetto
Andrei Shleifer

Why Does Democracy Need Education?
w12158 Pierpaolo Benigno
Michael Woodford

Optimal Inflation Targeting under Alternative Fiscal Regimes
w12166 Gadi Barlevy
H.N. Nagaraja

Identification of Search Models with Initial Condition Problems
w12167 Steven J. Davis
R. Jason Faberman
John Haltiwanger

The Flow Approach to Labor Markets: New Data Sources and Micro-Macro Links
w12118 Benjamin M. Friedman
The Greenspan Era: Discretion, Rather Than Rules
w12122 Robert W. Fogel
Why China is Likely to Achieve its Growth Objectives
w12125 Francesco Caselli
Wilbur John Coleman II

On the Theory of Ethnic Conflict
w12103 Eric M. Leeper
Shu-Chun Susan Yang

Dynamic Scoring: Alternative Financing Schemes
w12104 Chang-Tai Hsieh
Jonathan A. Parker

Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom
w12108 Daron Acemoglu
James A. Robinson

Persistence of Power, Elites and Institutions
w12092 Steven J. Davis
Kevin M. Murphy
Robert H. Topel

War in Iraq versus Containment
w12093 Raghuram G. Rajan
Competitive Rent Preservation, Reform Paralysis, and the Persistence of Underdevelopment
w12062 Miles Kimball
Helen Levy
Fumio Ohtake
Yoshiro Tsutsui

Unhappiness after Hurricane Katrina
w12067 Raj Chetty
A Bound on Risk Aversion Using Labor Supply Elasticities
w12073 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Partisan Impacts on the Economy: Evidence from Prediction Markets and Close Elections
w12076 Robert G. King
Discretionary Policy and Multiple Equilibria
w12079 Andres Arias
Gary D. Hansen
Lee E. Ohanian

Why Have Business Cycle Fluctuations Become Less Volatile?
w12081 Fumio Hayashi
Edward C. Prescott

The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
w12082 Mark Aguiar
Erik Hurst

Measuring Trends in Leisure: The Allocation of Time Over Five Decades
w12083 Justin Wolfers
Eric Zitzewitz

Prediction Markets in Theory and Practice
w12089 Bennett T. McCallum
Edward Nelson

Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
w12046 Ellen McGrattan
Edward Prescott

Why Did U.S. Market Hours Boom in the 1990s?
w12049 Alberto Alesina
Silvia Ardagna
Francesco Trebbi

Who Adjusts and When? On the Political Economy of Reforms
w12053 Andrew Leigh
Justin Wolfers

Competing Approaches to Forecasting Elections: Economic Models, Opinion Polling and Prediction Markets
w12057 Michael D. Hurd
Susann Rohwedder

Some Answers to the Retirement-Consumption Puzzle
w12060 Justin Wolfers
Eric Zitzewitz

Five Open Questions About Prediction Markets
w12022 Alejandro Justiniano
Giorgio E. Primiceri

The Time Varying Volatility of Macroeconomic Fluctuations
w12023 Kalpana Kochhar
Utsav Kumar
Raghuram Rajan
Arvind Subramanian

India's Patterns of Development: What Happened, What Follows
w12024 N. Gregory Mankiw
Ricardo Reis

Pervasive Stickiness (Expanded Version)
w12027 Philippe Aghion
Richard Blundell
Rachel Griffith
Peter Howitt
Susanne Prantl

The Effects of Entry on Incumbent Innovation and Productivity
w12030 Laurent E. Calvet
John Y. Campbell
Paolo Sodini

Down or Out: Assessing the Welfare Costs of Household Investment Mistakes
w12031 Philippe Aghion
Robin Burgess
Stephen Redding
Fabrizio Zilibotti

The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India
w12032 Diego Comin
Erica L. Groshen
Bess Rabin

Turbulent Firms, Turbulent Wages?
w12035 Michael D. Bordo
Peter L. Rousseau

Legal-Political Factors and the Historical Evolution of the Finance-Growth Link
w12036 Monika Piazzesi
Martin Schneider
Selale Tuzel

Housing, Consumption, and Asset Pricing
w12038 Marcos Chamon
Michael Kremer

Economic Transformation, Population Growth and the Long-Run World Income Distribution
w11993 Torsten Persson
Guido Tabellini

Democracy and Development: The Devil in the Details
w11995 Austan Goolsbee
Peter J. Klenow

Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet
w11996 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

An Equilibrium Model of "Global Imbalances" and Low Interest Rates
w11999 Paola Sapienza
Luigi Zingales
Luigi Guiso

Does Culture Affect Economic Outcomes?
w12009 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Importance of Default Options for Retirement Savings Outcomes: Evidence from the United States
w11988 John F. Helliwell
Haifang Huang

How's Your Government? International Evidence Linking Good Government and Well-Being
w11992 Sergio Godoy
Joseph Stiglitz

Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later
w11940 Daron Acemoglu
Modeling Inefficient Institutions
w11943 Steven Haider
Gary Solon

Life-Cycle Variation in the Association between Current and Lifetime Earnings
w11945 Jonathan Gruber
A Tax-Based Estimate of the Elasticity of Intertemporal Substitution
w11946 Stephen G. Cecchetti
Alfonso Flores-Lagunes
Stefan Krause

Assessing the Sources of Changes in the Volatility of Real Growth
w11948 Carol A. Corrado
Charles R. Hulten
Daniel E. Sichel

Intangible Capital and Economic Growth
w11954 Edward Miguel
Gerard Roland

The Long Run Impact of Bombing Vietnam
w11967 John Kennan
Private Information, Wage Bargaining and Employment Fluctuations
w11971 Mark Gertler
John Leahy

A Phillips Curve with an Ss Foundation
w11978 Joseph Engelberg
Charles F. Manski
Jared Williams

Comparing the Point Predictions and Subjective Probability Distributions of Professional Forecasters
w11979 James Choi
David Laibson
Brigitte Madrian

Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment(TM)
w11928 Diego Comin
Bart Hobijn
Emilie Rovito

Five Facts You Need to Know About Technology Diffusion
w11929 Refet Gurkaynak
Justin Wolfers

Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty, and Risk
w11913 Martin Uribe
On Overborrowing
2005
w11889 William Nordhaus
Life After Kyoto: Alternative Approaches to Global Warming
w11896 Michael Woodford
Robustly Optimal Monetary Policy with Near Rational Expectations
w11898 Michael Woodford
Central Bank Communication and Policy Effectiveness
w11862 Adi Brender
Allan Drazen

How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Cross-Section of Countries
w11869 David B. Gordon
Eric M. Leeper

Are Countercyclical Fiscal Policies Counterproductive?
w11870 Adam Copeland
George Hall

The Response of Prices, Sales, and Output to Temporary Changes in Demand
w11874 Troy Davig
Eric M. Leeper

Generalizing the Taylor Principle
w11888 Robert Shimer
Mismatch
w11834 Ricardo Caballero
Arvind Krishnamurthy

Financial System Risk and Flight to Quality
w11839 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Raymond Owens III

Firm Fragmentation and Urban Patterns
w11842 Ian Dew-Becker
Robert J. Gordon

Where Did the Productivity Growth Go? Inflation Dynamics and the Distribution of Income
w11845 Daron Acemoglu
Equilibrium Bias of Technology
w11847 Jeffrey R. Campbell
Competition in Large Markets
w11854 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model
w11809 Jerry Hausman
Ephraim Leibtag

Consumer Benefits from Increased Competition in Shopping Outlets: Measuring the Effect of Wal-Mart
w11815 Jordi Gali
Tommaso Monacelli

Optimal Monetary and Fiscal Policy in a Currency Union
w11820 Ricardo Reis
Inattentive Producers
w11826 George-Marios Angeletos
Alessandro Pavan

Efficiency and Welfare with Complementarities and Asymmetric Information
w11776 Robert J. Gordon
Todd vanGoethem

A Century of Housing Shelter Prices: Is There a Downward Bias in the CPI?
w11777 Robert J. Gordon
What Caused the Decline in U.S. Business Cycle Volatility?
w11778 Robert J. Gordon
The 1920s and the 1990s in Mutual Reflection
w11787 Roberto Chang
Linda Kaltani
Norman Loayza

Openness Can be Good for Growth: The Role of Policy Complementarities
w11788 Jordi Gali
Mark Gertler
David Lopez-Salido

Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve
w11789 Edward L. Glaeser
Paternalism and Psychology
w11800 Dale W. Jorgenson
Koji Nomura

The Industry Origins of Japanese Economic Growth
w11806 Olivier Blanchard
Jordi Gali

Real Wage Rigidities and the New Keynesian Model
w11755 Xavier Gabaix
David Laibson

Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets
w11764 Fernando Alvarez
Robert E. Lucas

General Equilibrium Analysis of the Eaton-Kortum Model of International Trade
w11772 Karla Hoff
Joseph E. Stiglitz

The Creation of the Rule of Law and the Legitimacy of Property Rights: The Political and Economic Consequences of a Corrupt Privatization
w11722 Xavier Gabaix
Parameswaran Gopikrishnan
Vasiliki Plerou
H. Eugene Stanley

Institutional Investors and Stock Market Volatility
w11731 Erik Hurst
Arthur Kennickell
Annamaria Lusardi
Francisco Torralba

Precautionary Savings and the Importance of Business Owners
w11733 Lars Svensson
Noah Williams

Monetary Policy with Model Uncertainty: Distribution Forecast Targeting
w11735 David K. Musto
Nicholas S. Souleles

A Portfolio View of Consumer Credit
w11736 Sean D. Campbell
Francis X. Diebold

Stock Returns and Expected Business Conditions: Half a Century of Direct Evidence
w11750 Olivier Blanchard
European Unemployment: The Evolution of Facts and Ideas
w11694 Neville Francis
Valerie A. Ramey

Measures of Per Capita Hours and their Implications for the Technology-Hours Debate
w11699 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations
w11684 Robert E. Hall
The Labor Market and Macro Volatility: A Nonstationary General-Equilibrium Analysis
w11687 Hanno Lustig
Christopher Sleet
Sevin Yeltekin

Fiscal Hedging and the Yield Curve
w11689 Robert Shimer
Ivan Werning

Liquidity and Insurance for the Unemployed
w11692 Dale T. Mortensen
Eva Nagypal

More on Unemployment and Vacancy Fluctuations
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
w11651 Robert E. Hall
Separating the Business Cycle from Other Economic Fluctuations
w11655 Russell Cooper
Hubert Kempf
Dan Peled

Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation
w11656 Marcela Eslava
John Haltiwanger
Adriana Kugler
Maurice Kugler

Factor Adjustments After Deregulation: Panel Evidence from Colombian Plants
w11668 Hans Fehr
Sabine Jokisch
Laurence J. Kotlikoff

Will China Eat Our Lunch or Take Us Out to Dinner? Simulating the Transition Paths of the U.S., EU, Japan, and China
w11669 Sebastian Edwards
The End of Large Current Account Deficits, 1970-2002: Are There Lessons for the United States?
w11678 Robert E. Hall
Job Loss, Job Finding, and Unemployment in the U.S. Economy Over the Past Fifty Years
w11679 Steven J. Davis
Luis Rivera-Batiz

The Climate for Business Development and Employment Growth in Puerto Rico
w11638 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

Modeling Exchange-Rate Passthrough After Large Devaluations
w11617 Christopher R. Berry
Edward L. Glaeser

The Divergence of Human Capital Levels Across Cities
w11618 Ricardo J. Caballero
Arvind Krishnamurthy

Bubbles and Capital Flow Volatility: Causes and Risk Management
w11620 Peter Lorentzen
John McMillan
Romain Wacziarg

Death and Development
w11627 David H. Autor
Lawrence F. Katz
Melissa S. Kearney

Trends in U.S. Wage Inequality: Re-Assessing the Revisionists
w11628 David H. Autor
Lawrence F. Katz
Melissa S. Kearney

Rising Wage Inequality: The Role of Composition and Prices
w11629 Jeremy Greenwood
Guillaume Vandenbroucke

Hours Worked: Long-Run Trends
w11593 Francesco Giavazzi
Tullio Jappelli
Marco Pagano
Marina Benedetti

Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence
w11596 Valerie A. Ramey
Daniel J. Vine

Declining Volatility in the U.S. Automobile Industry
w11600 Alberto Alesina
Guido Tabellini

Why is Fiscal Policy Often Procyclical?
w11601 Mark Aguiar
Erik Hurst

Lifecycle Prices and Production
w11588 Stephen H. Shore
Todd Sinai

Commitment, Risk, and Consumption: Do Birds of a Feather Have Bigger Nests?
w11560 Midori Wakabayashi
Charles Yuji Horioka

Borrowing Constraints and Consumption Behavior in Japan
w11562 Marvin Goodfriend
Robert King

The Incredible Volcker Disinflation
w11563 Pierre-Olivier Gourinchas
Hélène Rey

From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege
w11564 Hanno Lustig
Stijn Van Nieuwerburgh

The Returns on Human Capital: Good News on Wall Street is Bad News on Main Street
w11573 Simi Kedia
Thomas Philippon

The Economics of Fraudulent Accounting
w11574 Qiang Dai
Thomas Philippon

Fiscal Policy and the Term Structure of Interest Rates
w11578 Jordi Galí
J. David López-Salido
Javier Vallés

Understanding the Effects of Government Spending on Consumption
w11580 Zsolt Darvas
Andrew K. Rose
György Szapáry

Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic
w11548 Robert J. Gordon
Apparel Prices 1914-93 and the Hulten/Brueghel Paradox
w11551 Francesco Caselli
James Feyrer

The Marginal Product of Capital
w11554 James J. Choi
David Laibson
Brigitte C. Madrian

$100 Bills on the Sidewalk: Suboptimal Investment in 401(k) Plans
w11555 Lucia Foster
John Haltiwanger
Chad Syverson

Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?
w11534 John Y. Campbell
João F. Cocco

How Do House Prices Affect Consumption? Evidence From Micro Data
w11538 Andrew Ang
Geert Bekaert
Min Wei

Do Macro Variables, Asset Markets or Surveys Forecast Inflation Better?
w11542 Philippe Aghion
Mathias Dewatripont
Jeremy C. Stein

Academic Freedom, Private-Sector Focus, and the Process of Innovation
w11543 Aart Kraay
Jaume Ventura

The Dot-Com Bubble the Bush Deficits, and the U.S. Current Account
w11546 Rasmus Lentz
Dale T. Mortensen

An Empirical Model of Growth Through Product Innovation
w11496 Paul Beaudry
Franck Portier

The "News" View of Economic Fluctuations: Evidence from Aggregate Japanese Data and Sectoral U.S. Data
w11503 Diego Comin
Sunil Mulani

A Theory of Growth and Volatility at the Aggregate and Firm Level
w11519 César Alonso-Borrego
Jesús Fernández-Villaverde
José E. Galdón-Sánchez

Evaluating Labor Market Reforms: A General Equilibrium Approach
w11523 Andrew T. Levin
Alexei Onatski
John C. Williams
Noah Williams

Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models
w11528 Benjamin F. Jones
Benjamin A. Olken

The Anatomy of Start-Stop Growth
w11476 Lars Peter Hansen
John Heaton
Nan Li

Consumption Strikes Back?: Measuring Long-Run Risk
w11473 Filippo Altissimo
Pierpaolo Benigno
Diego Rodriguez Palenzuela

Long-Run Determinants of Inflation Differentials in a Monetary Union
w11451 Paul Beaudry
Patrick Francois

Managerial Skill Acquisition and the Theory of Economic Development
w11455 David N. Weil
Accounting for the Effect of Health on Economic Growth
w11458 Luis Garicano
Esteban Rossi-Hansberg

Organization and Inequality in a Knowledge Economy
w11467 James H. Stock
Mark W. Watson

Implications of Dynamic Factor Models for VAR Analysis
w11441 Laurent E. Calvet
Adlai J. Fisher

Multifrequency News and Stock Returns
w11422 Marcelle Chauvet
James D. Hamilton

Dating Business Cycle Turning Points
w11417 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model: Expanded Version
w11398 Edward L. Glaeser
Urban Colossus: Why is New York America's Largest City?
w11401 Sergio Rebelo
Real Business Cycle Models: Past, Present, and Future
w11405 Kevin M. Murphy
Robert H. Topel

The Value of Health and Longevity
w11408 Emmanuel Farhi
Ivan Werning

Inequality, Social Discounting and Estate Taxation
w11392 Lars O. Svensson
Robert J. Tetlow

Optimal Policy Projections
w11374 Laurence Ball
Fiscal Remedies for Japan's Slump
w11388 Diego Comin
Thomas Philippon

The Rise in Firm-Level Volatility: Causes and Consequences
w11349 Philippe Aghion
George-Marios Angeletos
Abhijit Banerjee
Kalina Manova

Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment
w11352 Michael W. Klein
Studying Texts: A Gemara of the Israeli Economy
w11354 William Nordhaus
The Sources of the Productivity Rebound and the Manufacturing Employment Puzzle
w11356 Daron Acemoglu
Pol Antràs
Elhanan Helpman

Contracts and the Division of Labor
w11310 Robert J. Barro
Rare Events and the Equity Premium
w11313 Jeff Dominitz
Charles F. Manski

Measuring and Interpreting Expectations of Equity Returns
w11330 Jeffrey R. Campbell
Zvi Hercowitz

The Role of Collateralized Household Debt in Macroeconomic Stabilization
w11285 Jean Boivin
Serena Ng

Understanding and Comparing Factor-Based Forecasts
w11293 Ricardo Caballero
Stavros Panageas

A Quantitative Model of Sudden Stops and External Liquidity Management
w11296 Jaume Ventura
A Global View of Economic Growth
w11297 Ricardo Reis
The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuation
w11300 Robert J. Shiller
The Life-Cycle Personal Accounts Proposal for Social Security: A Review
w11275 Daron Acemoglu
Politics and Economics in Weak and Strong States
w11277 David N. Figlio
Boys Named Sue: Disruptive Children and their Peers
w11278 Alberto Alesina
Edward L. Glaeser
Bruce Sacerdote

Work and Leisure in the U.S. and Europe: Why So Different?
w11261 Esteban Rossi-Hansberg
Mark L.J. Wright

Firm Size Dynamics in the Aggregate Economy
w11262 Esteban Rossi-Hansberg
Mark L.J. Wright

Urban Structure and Growth
w11268 Raquel Fernandez
Alessandra Fogli

Culture: An Empirical Investigation of Beliefs, Work, and Fertility
w11257 Adam Copeland
Wendy Dunn
George Hall

Prices, Production and Inventories over the Automotive Model Year
w11237 Harold L. Cole
Lee E. Ohanian
Ron Leung

Deflation and the International Great Depression: A Productivity Puzzle
w11245 Robert E. Hall
Paul R. Milgrom

The Limited Influence of Unemployment on the Wage Bargain
w11249 Martin Feldstein
The Euro and the Stability Pact
w11250 Martin Feldstein
Rethinking Social Insurance
gert05-1 Mark Gertler and Kenneth Rogoff
editors

NBER Macroeconomics Annual 2004, Volume 19
w11224 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

SMEs, Growth, and Poverty
w11235 Daron Acemoglu
Constitutions, Politics and Economics: A Review Essay on Persson and Tabellini's "The Economic Effect of Constitutions"
w11201 Daron Acemoglu
Asuman Ozdaglar

Competition and Efficiency in Congested Markets
w11202 Chang-Tai Hsieh
Enrico Moretti

Did Iraq Cheat the United Nations? Underpricing, Bribes, and the Oil for Food Program
w11204 Daron Acemoglu
Simon Johnson
James A. Robinson
Pierre Yared

From Education to Democracy?
w11205 Daron Acemoglu
Simon Johnson
James Robinson
Pierre Yared

Income and Democracy
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
w11180 George-Marios Angeletos
UNINSURED IDIOSYNCRATIC INVESTMENT RISK
w11183 Robert E. Hall
Employment Efficiency and Sticky Wages: Evidence from Flows in the Labor Market
w11185 Mikhail Golosov
Aleh Tsyvinski

Optimal Taxation with Endogenous Insurance Markets
w11186 Robert E. Hall
The Amplification of Unemployment Fluctuations through Self-Selection
w11187 Ann M. Lawson
Brian C. Moyer
Sumiye Okubo
Mark A. Planting

Integrating Industry and National Economic Accounts: First Steps and Future Improvements
w11188 Torben G. Andersen
Tim Bollerslev
Peter F. Christoffersen
Francis X. Diebold

Volatility Forecasting
w11191 Christian Hellwig
Arijit Mukherji
Aleh Tsyvinski

Self-Fulfilling Currency Crises: The Role of Interest Rates
w11193 John Cochrane
Financial Markets and the Real Economy
w11163 John Laitner
Dan Silverman

Estimating Life-Cycle Parameters from Consumption Behavior at Retirement
w11171 Torsten Persson
Forms of Democracy, Policy and Economic Development
w11161 James D. Hamilton
What's Real About the Business Cycle?
w11145 Joshua Aizenman
Financial Liberalization in Latin-America in the 1990s: A Reassessment
w11146 Michele Boldrin
Mariacristina De Nardi
Larry E. Jones

Fertility and Social Security
w11149 Michael Woodford
Firm-Specific Capital and the New-Keynesian Phillips Curve
w11125 Robert W. Fogel
RECONSIDERING EXPECTATIONS OF ECONOMIC GROWTH AFTER
w11129 Edward L. Glaeser
Joseph Gyourko
Raven Saks

Why Have Housing Prices Gone Up?
w11130 Jordi Gali
Trends in Hours, Balanced Growth, and the Role of Technology in the Business Cycle
w11133 V.V. Chari
Patrick Kehoe
Ellen R. McGrattan

Sudden Stops and Output Drops
w11134 Torben G. Andersen
Tim Bollerslev
Francis X. Diebold
Jin (Ginger) Wu

A Framework for Exploring the Macroeconomic Determinants of Systematic Risk
w11137 Olivier Blanchard
Francesco Giavazzi
Filipa Sa

The U.S. Current Account and the Dollar
w11099 Joseph J. Doyle Jr.
Health Insurance, Treatment and Outcomes: Using Auto Accidents as Health Shocks
w11106 Karen Wilson
The Architecture of the System of National Accounts: A Three Country Comparison, Canada, Australia, and United Kingdom
w11107 John R. Baldwin
Tarek Harchaoui

The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead
w11110 Oriol Carbonell-Nicolau
Diego Comin

Testing out Contractual Incompleteness: Evidence from Soccer
w11085 Allan Drazen
Marcela Eslava

Electoral Manipulation via Expenditure Composition: Theory and Evidence
w11088 Mats Persson
Torsten Persson
Lars E.O. Svensson

Time Consistency of Fiscal and Monetary Policy: A Solution
w11089 Francis X. Diebold
Monika Piazzesi
Glenn Rudebusch

Modeling Bond Yields in Finance and Macroeconomics
w11093 Boyan Jovanovic
Peter L. Rousseau

General Purpose Technologies
w11064 Martin D.D. Evans
Where Are We Now? Real-Time Estimates of the Macro Economy
w11065 Fabio Canova
Evi Pappa

Does it Cost to be Virtuous? The Macroeconomic Effects of Fiscal Constraints
w11073 Brian Moyer
Marshall Reinsdorf
Robert Yuskavage

Aggregation Issues in Integrating and Accelerating BEA's Accounts: Improved Methods for Calculating GDP by Industry
w11078 Simeon Djankov
Caralee McLiesh
Andrei Shleifer

Private Credit in 129 Countries
w11079 Rob Alessie
Agar Brugiavini
Guglielmo Weber

Saving and Cohabitation: The Economic Consequences of Living with One's Parents in Italy and the Netherlands
w11083 Andrew Atkeson
Harold Cole

A Dynamic Theory of Optimal Capital Structure and Executive Compensation
w11043 Peter J. Klenow
Oleksiy Kryvtsov

State-Dependent or Time-Dependent Pricing: Does it Matter for Recent U.S. Inflation?
w11045 Francesco Caselli
Silvana Tenreyro

Is Poland the Next Spain?
w11050 Claudio Michelacci
Vincenzo Quadrini

Financial Markets and Wages
w11054 Dongchul Cho
Interest Rate, Inflation, and Housing Price: With an Emphasis on Chonsei Price in Korea
w11056 Bennett T. McCallum
A Monetary Policy Rule for Automatic Prevention of a Liquidity Trap
w11022 Diego Comin
Bart Hobijn

Lobbies and Technology Diffusion
w11024 Flavio Cunha
James J. Heckman
Salvador Navarro

Separating Uncertainty from Heterogeneity in Life Cycle Earnings
w11029 Pierpaolo Benigno
Michael Woodford

Optimal Taxation in an RBC Model: A Linear-Quadratic Approach
w11030 Marco Bassetto
Thomas Sargent

Politics and Efficiency of Separating Capital and Ordinary Government Budgets
w11034 David Altig
Lawrence Christiano
Martin Eichenbaum
Jesper Linde

Firm-Specific Capital, Nominal Rigidities and the Business Cycle
2004
w11008 Harold L. Cole
Lee E. Ohanian
Alvaro Riascos
James A. Schmitz
Jr.

Latin America in the Rearview Mirror
w11009 Peter J. Klenow
Andres Rodriguez-Clare

Externalities and Growth
w11010 Anthony W. Lynch
Sinan Tan

Labor Income Dynamics at Business-Cycle Frequencies: Implications for Portfolio Choice
w11012 Morten O. Ravn
Stephanie Schmitt-Grohe
Martin Uribe

The Macroeconomics of Subsistence Points
w11015 George-Marios Angeletos
Ivan Werning

Crises and Prices: Information Aggregation, Multiplicity and Volatility
w11016 George-Marios Angeletos
Laurent-Emmanuel Calvet

Incomplete Market Dynamics in a Neoclassical Production Economy
w11017 George-Marios Angeletos
Christian Hellwig
Alessandro Pavan

Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change
w10970 Raj Chetty
Adam Szeidl

Consumption Commitments and Habit Formation
w10986 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

Large Devaluations and the Real Exchange Rate
w10991 Alwyn Young
The Gift of the Dying: The Tragedy of AIDS and the Welfare of Future African Generations
w10997 Daron Acemoglu
Philippe Aghion
Rachel Griffith
Fabrizio Zilibotti

Vertical Integration and Technology: Theory and Evidence
w10999 Philippe Aghion
Jeremy C. Stein

Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
w11000 N. Gregory Mankiw
Matthew Weinzierl

Dynamic Scoring: A Back-of-the-Envelope Guide
w10971 Michael Kremer
Edward Miguel
Rebecca Thornton

Incentives to Learn
w10950 William Nordhaus
Retrospective on the 1970s Productivity Slowdown
w10953 Sita Nataraj
John B. Shoven

Has the Unified Budget Undermined the Federal Government Trust Funds?
w10909 Nobuhiro Kiyotaki
Kenneth D. West

Land Prices and Business Fixed Investments in Japan
w10910 Boyan Jovanovic
The Product Cycle and Inequality
w10915 Julio J. Rotemberg
Fair Pricing
w10916 William A. Brock
Steven N. Durlauf
Kenneth D. West

Model Uncertainty and Policy Evaluation: Some Theory and Empirics
w10921 Charles I. Jones
Dean Scrimgeour

The Steady-State Growth Theorem: A Comment on Uzawa (1961)
w10922 Diego Comin
Sunil Mulani

Diverging Trends in Macro and Micro Volatility: Facts
w10926 Gadi Barlevy
The Cost of Business Cycles and the Benefits of Stabilization: A Survey
w10927 Allan Drazen
Peter Isard

Can Public Discussion Enhance Program Ownership?
w10928 Allan Drazen
Nuno Limão
Thomas Stratman

Political Contribution Caps and Lobby Formation: Theory and Evidence
w10903 Craig Burnside
Domenico Fanizza

Hiccups for HIPCs?
w10883 Ricardo Reis
Inattentive Consumers
w10888 Arthur Kennickell
Annamaria Lusardi

Disentangling the Importance of the Precautionary Saving Mode
w10889 Matthew B. Canzoneri
Robert E. Cumby
Behzad T. Diba

The Cost of Nominal Inertia in NNS Models
w10892 Casey B. Mulligan
Yona Rubinstein

The Closing of the Gender Gap as a Roy Model Illusion
w10867 Christopher Carroll
Theoretical Foundations of Buffer Stock Saving
w10869 Maurice Obstfeld
Kenneth Rogoff

The Unsustainable US Current Account Position Revisited
w10878 Takatoshi Ito
Frederic S. Mishkin

Two Decades of Japanese Monetary Policy and the Deflation Problem
w10879 Paul Willen
Igal Hendel
Joel Shapiro

Educational Opportunity and Income Inequality
w10843 Maurice Obstfeld
External Adjustment
w10854 William A. Brock
M. Scott Taylor

Economic Growth and the Environment: A Review of Theory and Empirics
w10855 Robert Barsky
Lutz Kilian

Oil and the Macroeconomy Since the 1970s
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
w10828 Francesco Caselli
Accounting for Cross-Country Income Differences
w10831 Michael J. Geske
Valerie A. Ramey
Matthew D. Shapiro

Why Do Computers Depreciate?
w10835 Edward L. Glaeser
Giacomo A. M. Ponzetto
Jesse M. Shapiro

Strategic Extremism: Why Republicans and Democrats Divide on Religious Values
w10821 Edward L. Glaeser
Raven Saks

Corruption in America
w10786 Ricardo J. Caballero
Stavros Panageas

Contingent Reserves Management: An Applied Framework
w10787 Alan S. Blinder
Alan B. Krueger

What Does the Public Know about Economic Policy, and How Does It Know It?
w10788 Silvia Ardagna
Francesco Caselli
Timothy Lane

Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries
w10793 Jeremy Greenwood
Gokce Uysal

New Goods and the Transition to a New Economy
w10764 Thomas Sargent
Noah Williams
Tao Zha

Shocks and Government Beliefs: The Rise and Fall of American Inflation
w10765 Jeremy Greenwood
Ananth Seshadri

Technological Progress and Economic Transformation
w10766 Ross Levine
Finance and Growth: Theory and Evidence
w10767 Charles I. Jones
Growth and Ideas
w10771 Boyan Jovanovic
The Pre-Producers
w10772 Jeremy Greenwood
Nezih Guner

Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households
w10776 Paul Beaudry
Franck Portier

When Can Changes in Expectations Cause Business Cycle Fluctuations in Neo-Classical Settings?
w10778 Carol H. Shiue
Wolfgang Keller

Markets in China and Europe on the Eve of the Industrial Revolution
w10784 David S. Johnson
Jonathan A. Parker
Nicholas S. Souleles

Household Expenditure and the Income Tax Rebates of 2001
w10749 Ha Yan Lee
Luca Antonio Ricci
Roberto Rigobon

Once Again, is Openness Good for Growth?
w10750 Roberto Rigobon
Dani Rodrik

Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships
w10752 Robert W. Fogel
High Performing Asian Economies
w10724 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the U.S. Business Cycle
w10725 Marianne Baxter
Michael A. Kouparitsas

Determinants of Business Cycle Comovement: A Robust Analysis
w10732 Simon Gilchrist
John C. Williams

Transition Dynamics in Vintage Capital Models: Explaining the Postwar Catch-Up of Germany and Japan
w10733 Diego Comin
Bart Hobijn

Neoclassical Growth and the Adoption of Technologies
w10734 Mark Aguiar
Gita Gopinath

Emerging Market Business Cycles: The Cycle is the Trend
w10737 Robert E. Hall
Charles I. Jones

The Value of Life and the Rise in Health Spending
w10741 Gadi Barlevy
On the Timing of Innovation in Stochastic Schumpeterian Growth Models
w10744 Ricardo J. Caballero
Kevin N. Cowan
Eduardo M.R.A. Engel
Alejandro Micco

Effective Labor Regulation and Microeconomic Flexibility
w10703 Valerie A. Ramey
Daniel J. Vine

Why Do Real and Nominal Inventory-Sales Ratios Have Different Trends
w10707 Markus K. Brunnermeier
Jonathan A. Parker

Optimal Expectations
w10712 Jerry Hausman
Ephraim Leibtag

CPI Bias from Supercenters: Does the BLS Know that Wal-Mart Exists?
w10723 Charles Engel
Kenneth D. West

Exchange Rates and Fundamentals
w10660 Robert J. Gordon
Five Puzzles in the Behavior of Productivity, Investment, and Innovation
w10661 Robert J. Gordon
Why was Europe Left at the Station When America's Productivity Locomotive Departed?
w10662 Robert J. Gordon
Two Centuries of Economic Growth: Europe Chasing the American Frontier
w10669 Angus Deaton
Health in an Age of Globalization
w10672 Andrew Ang
Monika Piazzesi
Min Wei

What Does the Yield Curve Tell us about GDP Growth?
w10673 Aasim M. Husain
Ashoka Mody
Kenneth S. Rogoff

Exchange Rate Regime Durability and Performance in Developing Countries Versus Advanced Economies
w10679 Olivier Jeanne
Lars E.O. Svensson

Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank
w10681 Eric M. Engen
R. Glenn Hubbard

Federal Government Debt and Interest Rates
w10694 Alan J. Auerbach
Budget Windows, Sunsets, and Fiscal Control
w10636 Jordi Gali
Pau Rabanal

Technology Shocks and Aggregate Fluctuations: How Well Does the RBS Model Fit Postwar U.S. Data?
w10642 Willem H. Buiter
Anne C. Sibert

Deflationary Bubbles
w10646 Frederic S. Mishkin
Can Inflation Targeting Work in Emerging Market Countries?
w10652 Aubhik Khan
Julia K. Thomas

Modeling Inventories Over the Business Cycle
w10655 Richard Rogerson
Robert Shimer
Randall Wright

Search-Theoretic Models of the Labor Market-A Survey
gert04-1 Mark Gertler and Kenneth Rogoff
editors

NBER Macroeconomics Annual 2003, Volume 18
w10612 Bennett T. McCallum
Edward Nelson

Targeting vs. Instrument Rules for Monetary Policy
w10616 Francis X. Diebold
Glenn D. Rudebusch
S. Boragan Aruoba

The Macroeconomy and the Yield Curve: A Dynamic Latent Factor Approach
w10617 Martin Eichenbaum
Jonas D.M. Fisher

Evaluating the Calvo Model of Sticky Prices
w10627 Diego Comin
Using Investment Data to Assess the Importance of Price Mismeasurement
w10631 Neville Francis
Valerie A. Ramey

The Source of Historical Economic Fluctuations: An Analysis using Long-Run Restrictions
w10601 Herschel I. Grossman
Peace and War in Territorial Disputes
w10606 Mark Bils
Measuring the Growth from Better and Better Goods
w10584 Raphael Bergoeing
Norman Loayzaw
Andrea Repetto

Slow Recoveries
w10589 Raquel Fernandez
Alessandra Fogli
Claudia Olivetti

Preference Formation and the Rise of Women's Labor Force Participation: Evidence from WWII
w10590 Olivier Blanchard
Thomas Philippon

The Quality of Labor Relations and Unemployment
w10592 Susanto Basu
John Fernald
Miles Kimball

Are Technology Improvements Contractionary?
w10597 David Backus
Bryan Routledge
Stanley Zin

Exotic Preferences for Macroeconomists
w10556 Alessandro Barbarino
Boyan Jovanovic

Shakeouts and Market Crashes
w10557 William A. Brock
M. Scott Taylor

The Green Solow Model
w10560 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Growth Volatility and Financial Liberalization
w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment
w10565 Paul Beaudry
Fabrice Collard

Globalization, Returns to Accumulationa and the World Distribution of Output
w10566 Ricardo Hausmann
Lant Pritchett
Dani Rodrik

Growth Accelerations
w10568 Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

Do Institutions Cause Growth?
w10573 Boyan Jovanovic
Asymmetric Cycles
w10548 Paul Beaudry
Franck Portier

Stock Prices, News and Economic Fluctuations
w10539 Adi Brender
Allan Drazen

Political Budget Cycles in New versus Established Democracies
w10540 Fabio Ghironi
Marc J. Melitz

International Trade and Macroeconomic Dynamics with Heterogeneous Firms
w10509 Steven J. Davis
Magnus Henrekson

Tax Effects on Work Activity, Industry Mix and Shadow Economy Size: Evidence from Rich-Country Comparisons
w10514 John Ameriks
Andrew Caplin
John Leahy
Tom Tyler

Measuring Self-Control
w10517 Ricardo Caballero
Arvind Krishnamurthy

Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
w10518 Ricardo Caballero
Emmanuel Farhi
Mohamad L. Hammour

Speculative Growth: Hints from the US Economy
w10519 Ricardo Caballero
Kevin Cowan
Jonathan Kearns

Fear of Sudden Stops: Lessons from Australia and Chile
w10523 Sangeeta Pratap
Carlos Urrutia

Firm Dynamics, Investment, and Debt Portfolio: Balance Sheet Effects of the Mexican Crisis of 1994
w10524 Willem Buiter
A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics: 2 Ghosts, 2 Eccentricities, A Fallacy, A Mirage and A Mythos
w10527 Andrew Postlewaite
Larry Samuelson
Dan Silverman

Consumption, Commitmants and Preferences for Risk
w10532 Ricardo J. Caballero
Arvind Krishnamurthy

Fiscal Policy and Financial Depth
w10504 Justin Wolfers
Eric Zitzewitz

Prediction Markets
w10505 Hanno Lustig
Stijn Van Nieuwerburgh

How Much Does Household Collateral Constrain Regional Risk Sharing?
w10485 Steven N. Durlauf
Marcel Fafchamps

Social Capital
w10486 James J. Choi
David Laibson
Brigitte C. Madrian

Plan Design and 401(k) Savings Outcomes
w10487 Erik Hurst
James P. Ziliak

Do Welfare Asset Limits Affect Household Saving? Evidence from Welfare Reform
w10495 William A. Brock
Steven N. Durlauf

Elements of a Theory of Design Limits to Optimal Policy
w10469 Gadi Barlevy
Daniel Tsiddon

Earnings Inequality and the Business Cycle
w10481 Daron Acemoglu
Simon Johnson
James Robinson

Institutions as the Fundamental Cause of Long-Run Growth
w10457 Charles I. Jones
The Shape of Production Function and the Direction of Technical Change
w10458 Marjorie Flavin
Shinobu Nakagawa

A Model of Housing in the Presence of Adjustment Costs: A Structural Interpretation of Habit Persistence
w10460 Naci Mocan
What Determines Corruption? International Evidence from Micro Data
w10454 James J. Choi
David Laibson
Brigitte C. Madrian
Andrew Metrick

Consumption-Wealth Comovement of the Wrong Sign
w10433 William D. Nordhaus
Schumpeterian Profits in the American Economy: Theory and Measurement
w10438 Robert J. Barro
Rachel M. McCleary

Which Countries Have State Religions?
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
w10416 Tamim Bayoumi
Douglas Laxton
Paolo Pesenti

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assesment
w10430 Martin Eichenbaum
Jonas Fisher

Fiscal Policy in the Aftermath of 9/11
w10400 Mervyn King
The Institutions of Monetary Policy
w10384 Valerie A. Ramey
Daniel J. Vine

Tracking the Source of the Decline in GDP Volatility: An Analysis of the Automobile Industry
w10387 Pablo A. Neumeyer
Fabrizio Perri

Business Cycles in Emerging Economies: The Role of Interest Rates
w10389 Olivier Blanchard
Fiscal Dominance and Inflation Targeting: Lessons from Brazil
w10391 George-Marios Angeletos
Alessandro Pavan

Transparency of Information and Coordination in Economies with Investment Complementarities
w10392 Jordi Gali
J. David Lopez-Salido
Javier Valles

Rule-of-Thumb Consumers and the Design of Interest Rate Rules
w10398 Ricardo J. Caballlero
Eduardo Engel
Alejandro Micco

Microeconomic Flexibility in Latin America
w10399 Wojciech Kopczuk
Emmanuel Saez

Top Wealth Shares in the United States: 1916-2000: Evidence from Estate Tax Returns
w10368 Ricardo J. Caballero
Eduardo M.R.A. Engel

Three Strikes and You're Out: Reply to Cooper and Willis
w10371 Roland Benabou
Inequality, Technology, and the Social Contract
w10375 Allan Drazen
Nuno Limão

Government Gains from Self-Restraint: A Bargaining Theory of Inefficient Redistribution
w10376 Dani Rodrik
Arvind Subramanian

From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition
w10362 Troy Davig
Eric M. Leeper
Hess Chung

Monetary and Fiscal Policy Switching
w10367 Marcela Eslava
John Haltiwanger
Adriana Kugler
Maurice Kugler

The Effect of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia
w10338 Orazio Attanasio
Erich Battistin
Hidehiko Ichimura

What Really Happened to Consumption Inequality in the US?
w10342 Alberto Alesina
Roberto Perotti

The European Union: A Politically Incorrect View
w10347 Dirk Krueger
Jessica Tjornhom Donohue

On the Distributional Consequences of Child Labor Legislation
w10351 V.V. Chari
Patrick J. Kehoe
Ellen McGrattan

Business Cycle Accounting
w10354 Raj Chetty
Interest Rates and Backward-Bending Investment
w10358 Philippe Aghion
Peter Howitt
David Mayer-Foulkes

The Effect of Financial Development on Convergence: Theory and Evidence
w10310 Olivier Blanchard
The Economic Future of Europe
w10313 Alberto Alesina
Eliana La Ferrara

Ethnic Diversity and Economic Performance
w10316 Edward C. Prescott
Why do Americans Work so Much More than Europeans?
w10324 Michael Kremer
Edward Miguel

The Illusion of Sustainability
w10326 Robert Shimer
The Consequences of Rigid Wages in Search Models
w10307 Mark Aguiar
Erik Hurst

Consumption vs. Expenditure
w10309 Peter N. Ireland
Technology Shocks in the New Keynesian Model
w10298 Boyan Jovanovic
Peter L. Rousseau

Interest Rates and Initial Public Offerings
w10290 Alan Auerbach
Maurice Obstfeld

Monetary and Fiscal Remedies for Deflation
w10296 Carmen M. Reinhart
Kenneth S. Rogoff

Serial Default and the "Paradox" of Rich to Poor Capital Flows
w10297 Russel W. Cooper
John C. Haltiwanger
Jonathan Willis

Dynamics of Labor Demand: Evidence from Plant-level Observations and Aggregate Implications
w10257 Steven Haider
Melvin Stephens Jr.

Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations
w10261 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Deep Habits
w10262 Casey B. Mulligan
What do Aggregate Consumption Euler Equations Say about the Capital Income Tax Burden?
w10263 John Y. Campbell
Tuomo Vuolteenaho

Inflation Illusion and Stock Prices
w10268 Andrew Atkeson
Patrick Kehoe

Deflation and Depression: Is There and Empirical Link?
w10272 Jess Benhabib
Stephanie Schmitt-Grohe
Martin Uribe

Chaotic Interest Rate Rules: Expanded Version
w10280 Kenneth D. West
Monetary Policy and the Volatility of Real Exchange Rates in New Zealand
t0296 William R. Hauk
Romain Wacziarg

A Monte Carlo Study of Growth Regressions
w10231 Mikhail Golosov
Larry E. Jones
Michele Tertilt

Efficiency with Endogenous Population Growth
w10232 V.V. Chari
Patrick J. Kehoe

On the Desirability of Fiscal Constraints in a Monetary Union
w10234 Casey B. Mulligan
Andrei Shleifer

Population and Regulation
w10236 Raymond Fisman
Inessa Love

Financial Development and Growth in the Short and Long Run
w10238 Ariel Burstein
Joao C. Neves
Sergio Rebelo

Investment Prices and Exchange Rates: Some Basic Facts
w10239 Russell Cooper
Hubert Kempf
Dan Peled

Is it is or is it Ain't my Obligation? Regional Debt in Monetary Unions
w10241 Alberto Alesina
Guido Tabellini

Bureaucrats or Politicians?
w10246 Philippe Aghion
Philippe Bacchetta
Abhijit Banerjee

Financial Development and the Instability of Open Economies
w10248 Kevin Murphy
Andrei Shleifer

Persuasion in Politics
w10254 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology
w10255 Lawrence J. Christiano
Roberto Motto
Massimo Rostagno

The Great Depression and the Friedman-Schwartz Hypothesis
w10210 Casey B. Mulligan
Robust Aggregate Implications of Stochastic Discount Factor Volatility
w10211 Raj Chetty
Consumption Commitments, Unemployment Durations, and Local Risk Aversion
w10216 John Ameriks
Andrew Caplin
John Leahy

The Absent-Minded Consumer
w10201 Jeffrey R. Campbell
Zvi Hercowitz

The Dynamics of Work and Debt
2003
w10191 Edward L. Glaeser
Albert Saiz

The Rise of the Skilled City
w10194 Noah Williams
Small Noise Asymptotics for a Stochastic Growth Model
w10180 Herschel I. Grossman
Choosing Between Peace and War
w10183 Robert J. Shiller
The Invention of Inflation-Indexed Bonds in Early America
w10187 Mikhail Golosov
Robert E. Lucas

Menu Costs and Phillips Curves
w10151 Manuel Amador
Ivan Werning
George-Marios Angeletos

Commitment Vs. Flexibility
w10152 Romain Wacziarg
Karen Horn Welch

Trade Liberalization and Growth: New Evidence
w10163 Willem H. Buiter
Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap
w10128 Mark Gertler
Simon Gilchrist
Fabio Natalucci

External Constraints on Monetary Policy and the Financial Accelerator
w10130 Michael D. Bordo
Thomas Helbling

Have National Business Cycles Become More Synchronized?
w10132 Thomas Cooley
Ramon Marimon
Vincenzo Quadrini

Aggregate Consequences of Limited Contract Enforceability
w10135 Dirk Krueger
Harald Uhlig

Competitive Risk Sharing Contracts with One-Sided Commitment
w10136 Daron Acemoglu
James A. Robinson
Thierry Verdier

Kleptocracy and Divide-and-Rule: A Model of Personal Rule
w10146 Gadi Barlevy
Estimating Models of On-the-Job Search Using Record Statistics
w10147 Robert Barro
Rachel M. McCleary

International Determinants of Religiosity
w10149 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy Under Imperfect Competition
w10150 Robert E. Hall
Corporate Earnings Track the Competitive Benchmark
w10124 Edward L. Glaeser
Joseph Gyourko
Raven Saks

Why is Manhattan So Expensive? Regulation and the Rise in House Prices
w10098 Erik Hurst
Grasshoppers, Ants, and Pre-Retirement Wealth: A Test of Permanent Income
w10099 Andrew B. Abel
Optimal Taxation When Consumers Have Endogenous Benchmark Levels of Consumption
w10109 Susan Athey
Andrew Atkeson
Patrick Kehoe

The Optimal Degree of Discretion in Monetary Policy
w10078 Aubhik Khan
Julia Thomas

Inventories and the Business Cycle: An Equilibrium Analysis of (S,s) Policies
w10089 Eric Leeper
An "Inflation Reports" Report
w10057 Andrei Shleifer
Daniel Treisman

A Normal Country
w10050 Dani Rodrik
Growth Strategies
w10037 Daron Acemoglu
The Form of Property Rights: Oligarchic vs. Democratic Societies
w10018 Martin Uribe
Vivian Z. Yue

Country Spreads and Emerging Countries: Who Drives Whom?
w10023 Alan J. Auerbach
Fiscal Policy, Past and Present
w10025 William A. Brock
Steven N. Durlauf
Kenneth D. West

Policy Evaluation in Uncertain Economic Environments
w10031 Lawrence J. Christiano
Jonas D. M. Fisher

Stock Market and Investment Goods Prices: Implications for Macroeconomics
w10006 Russell W. Cooper
Jonathan Willis

The Cost of Labor Adjustment: Inferences from the Gap
w10009 Peter F. Christoffersen
Francis X. Diebold

Financial Asset Returns, Direction-of-Change Forecasting, and Volatility Dynamics
w10010 Susanto Basu
John G. Fernald
Nicholas Oulton
Sylaja Srinivasan

The Case of the Missing Productivity Growth: Or, Does Information Technology Explain why Productivity Accelerated in the US but not the UK?
a0679 Robert E. Hall
Economic Fluctuations and Growth
w10001 Dirk Krueger
Krishna B. Kumar

US-Europe Differences in Technology-Driven Growth: Quantifying the Role of Education
w10003 Diego Comin
Mark Gertler

Medium Term Business Cycles
w9993 Dirk Krueger
Fabrizio Perri

On the Welfare Consequences of the Increase in Inequality in the United States
w9970 Gadi Barlevy
The Cost of Business Cycles Under Endogenous Growth
w9976 Melvin Stephens Jr.
The Consumption Response to Predictable Changes in Discretionary Income: Evidence from the Repayment of Vehicle Loans
w9984 Ignazio Angeloni
Anil K. Kashyap
Benoit Mojon
Daniele Terlizzese

Monetary Transmission in the Euro Area: Does the Interest Rate Channel Explain it All?
w9985 Ignazio Angeloni
Anil K. Kashyap
Benoit Mojon
Daniele Terlizzese

The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and U.S.
w9967 Robert E. Hall
Wage Determination and Employment Fluctuations
w9968 Gauti B. Eggertsson
Michael Woodford

Optimal Monetary Policy in a Liquidity Trap
w9960 Bennett T. McCallum
The Unique Minimum State Variable RE Solution is E-Stable in All Well Formulated Linear Models
w9961 Bennett T. McCallum
Is the Fiscal Theory of the Price Level Learnable?
w9939 Marc P. Giannoni
Michael Woodford

Optimal Inflation Targeting Rules
w9946 Robert G. King
Julia K. Thomas

Partial Adjustment without Apology
isom03-1 Lars Svensson and James Stock
organizers

International Seminar on Macroeconomics (ISOM)
w9917 James Choi
David Laibson
Brigitte Madrian
Andrew Metrick

Passive Decisions and Potent Defaults
w9924 Jason G. Cummins
A New Approach to the Valuation of Intangible Capital
w9926 Jeff Dominitz
Charles F. Manski

How Should We Measure Consumer Confidence (Sentiment)? Evidence from the Michigan Survey of Consumers
w9928 Francesco Caselli
Daniel Wilson

Importing Technology
w9929 Robert G. King
Alexander L. Wolman

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria
w9898 David Berger
Ricardo J. Caballero
Eduardo Engel

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models
w9905 Pierpaolo Benigno
Michael Woodford

Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach
w9886 Edward L. Glaeser
Janet E. Kohlhase

Cities, Regions and the Decline of Transport Costs
w9866 Christina D. Romer
David H. Romer

A New Measure of Monetary Shocks: Derivation and Implications
w9867 Sebastian Edwards
Eduardo Levy Yeyati

Flexible Exchange Rates as Shock Absorbers
w9848 Martin Lettau
Sydney Ludvigson

Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption
w9859 James H. Stock
Mark W. Watson

Understanding Changes in International Business Cycle Dynamics
w9865 Elsa V. Artadi
Xavier Sala-i-Martin

The Economic Tragedy of the XXth Century: Growth in Africa
w9832 Robert Barsky
Christopher L. House
Miles Kimball

Do Flexible Durable Goods Prices Undermine Sticky Price Models?
w9837 Bennett T. McCallum
Multiple-Solution Indeterminacies in Monetary Policy Analysis
w9838 Bennett T. McCallum
Monetary Policy in Economies with Little or No Money
w9839 Laurent Calvet
Adlai Fisher

Regime-Switching and the Estimation of Multifractal Processes
w9840 Laurent Calvet
Martin Gonzalez-Eiras
Paolo Sodini

Financial Innovation, Market Participation and Asset Prices
w9814 Alan J. Auerbach
Maurice Obstfeld

The Case for Open-Market Purchases in a Liquidity Trap
w9819 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

What Happens After a Technology Shock?
w9822 Angus Deaton
Measuring Poverty in a Growing World (or Measuring Growth in a Poor World)
w9804 Xavier Sala-i-Martin
Arvind Subramanian

Addressing the Natural Resource Curse: An Illustration from Nigeria
w9809 Alberto Alesina
Alexander Wagner

Choosing (and reneging on) exchange rate regimes
w9783 Patrick Bajari
C. Lanier Benkard
John Krainer

House Prices and Consumer Welfare
w9786 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Government Finance in the Wake of Currency Crises
w9793 Herschel I. Grossman
". . . and six hundred thousand men were dead."
w9794 Herschel I. Grossman
Distributional Disputes and Civil Conflict
w9796 N. Gregory Mankiw
Ricardo Reis
Justin Wolfers

Disagreement about Inflation Expectations
w9802 Daron Acemoglu
Michael Kremer
Atif Mian

Incentives in Markets, Firms and Governments
w9772 Craig Burnside
Martin Eichenbaum
Jonas Fisher

Fiscal Shocks and Their Consequences
w9773 Jordi Gali
Roberto Perotti

Fiscal Policy and Monetary Integration in Europe
w9775 Rafael LaPorta
Florencio Lopez-de-Silane
Cristian Pop-Eleches
Andrei Shleifer

Judicial Checks and Balances
w9778 Ricardo J. Caballero
Stavros Panageas

Hedging Sudden Stops and Precautionary Contractions
w9756 Simeon Djankov
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Juan Botero

The Regulation of Labor
w9759 John Y. Campbell
Joao F. Cocco

Household Risk Management and Optimal Mortgage Choice
w9764 George-Marios Angeletos
Laurent Calvet

Idiosyncratic Production Risk, Growth, and the Business Cycle
w9765 Gary S. Becker
Tomas J. Philipson
Rodrigo R. Soares

The Quantity and Quality of Life and the Evolution of World Inequality
w9767 George-Marios Angeletos
Christian Hellwig
Alessandro Pavan

Coordination and Policy Traps
w9741 Michael C. Davis
James D. Hamilton

Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices
w9747 Lars E. O. Svensson
Michael Woodford

Implementing Optimal Policy through Inflation-Forecast Targeting
w9701 Chang-Tai Hsieh
Peter J. Klenow

Relative Prices and Relative Prosperity
w9704 Donald Morgan
Bertrand Rime
Philip Strahan

Bank Integration and State Business Cycles
w9710 Donald Morgan
Philip Strahan

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries
w9712 Jaap H. Abbring
Jeffrey R. Campbell

A Structural Empirical Model of Firm Growth, Learning, and Survival
w9672 Stephen G. Cecchetti
Junhan Kim

Inflation Targeting, Price-Path Targeting and Output Variability
w9682 Robert J. Barro
Rachel McCleary

Religion and Economic Growth
w9667 Jiri Jonas
Frederic S. Mishkin

Inflation Targeting in Transition Countries: Experience and Prospects
w9642 Yasushi Hamao
Jianping Mei
Yexiao Xu

Idiosyncratic Risk and the Creative Destruction in Japan
w9643 Joe Peek
Eric S. Rosengren

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan
w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan
w9646 Kazuo Ogawa
Financial Distress and Employment: The Japanese Case in the 90s
w9658 V. V. Chari
Patrick J. Kehoe

Financial Crises as Herds: Overturning the Critiques
w9629 Christian Gollier
Richard Zeckhauser

Collective Investment Decision Making with Heterogeneous Time Preferences
w9635 Herschel I. Grossman
"Fifty-four Forty or Fight!"
w9618 Joshua Aizenman
Reuven Glick

Military Expenditure, Threats, and Growth
w9619 Justin Wolfers
Is Business Cycle Volatility Costly? Evidence from Surveys of Subjective Wellbeing
w9599 Ricardo J. Caballero
Arvind Krishnamurthy

Inflation Targeting and Sudden Stops
w9604 Rodolfo Manuelli
Ananth Seshadri

Frictionless Technology Diffusion: The Case of Tractors
w9608 Simeon Djankov
Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

The New Comparative Economics
w9587 Andrew Leigh
Justin Wolfers
Eric Zitzewitz

What Do Financial Markets Think of War in Iraq?
w9577 Laurence Ball
Niamh Sheridan

Does Inflation Targeting Matter?
w9581 Baruch Lev
Suresh Radhakrishnan

The Measurement of Firm-Specific Organization Capital
w9582 Raymond Fisman
Inessa Love

Financial Dependence and Growth Revisited
w9585 John Kennan
James R. Walker

The Effect of Expected Income on Individual Migration Decisions
w9586 Michael Hurd
Susann Rohwedder

The Retirement-Consumption Puzzle: Anticipated and Actual Declines in Spending at Retirement
w9583 Raymond Fisman
Inessa Love

Financial Development and the Composition of Industrial Growth
w9558 Jess Behabib
Stephanie Schmitt-Grohe
Martin Uribe

Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing, and Macroeconomic Instability
w9560 Alberto Alesina
Silvia Ardagna
Giuseppe Nicoletti
Fabio Schiantarelli

Regulation and Investment
w9566 Alexei Onatski
Noah Williams

Modeling Model Uncertainty
w9570 Ricardo J. Caballero
On the International Financial Architecture: Insuring Emerging Markets
w9536 Robert Shimer
The Cyclical Behavior of Equilibrium Unemployment and Vacancies: Evidence and Theory
w9538 Jonathan A. Parker
Christian Julliard

Consumption Risk and Cross-Sectional Returns
w9547 John Y. Campbell
George Chacko
Jorge Rodriguez
Luis M. Viciera

Strategic Asset Allocation in a Continuous-Time VAR Model
w9552 Eric M. Leeper
Jennifer E. Roush

Putting 'M' back in Monetary Policy
w9526 W. Erwin Diewert
Measuring Capital
w9502 Alberto Alesina
George-Marios Angeletos

Fairness and Redistribution: U.S. versus Europe
w9506 Eric M. Leeper
Fiscal Policy and Inflation: Pondering the Imponderables
w9486 Lars E. O. Svensson
Monetary Policy and Real Stabilization
w9490 Jeffrey D. Sachs
Institutions Don't Rule: Direct Effects of Geography on Per Capita Income
w9491 Laurence Ball
N. Gregory Mankiw
Ricardo Reis

Monetary Policy for Inattentive Economies
w9462 Todd Sinai
Nicholas S. Souleles

Owner-Occupied Housing as a Hedge Against Rent Risk
w9442 Francesco Caselli
Nicola Gennaioli

Dynastic Management
w9444 Albert Ando
Dimitrios Christelis
Tsutomu Miyagawa

Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan
w9435 Silvana Tenreyro
Robert J. Barro

Economic Effects of Currency Unions
w9437 Robert J. Gordon
Hi-tech Innovation and Productivity Growth: Does Supply Create Its Own Demand?
w9408 Dirk Krueger
Krishna B. Kumar

Skill-specific rather then General Education: A Reason for US-Europe Growth Differences?
w9410 Dirk Krueger
Felix Kubler

Pareto Improving Social Security Reform when Financial Markets are Incomplete?
w9411 Alberto Alesina
Arnaud Devleeschauwer
William Easterly
Sergio Kurlat
Romain Wacziarg

Fractionalization
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
w9421 Lars E. O. Svensson
What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules
blom03-1 Magnus Blomström
Jennifer Corbett
Fumio Hayashi and Anil Kashyap
editors

Structural Impediments to Growth in Japan
feen03-1 Robert C. Feenstra and Matthew D. Shapiro
editors

Scanner Data and Price Indexes
gert03-1 Mark Gertler and Kenneth Rogoff
editors

NBER Macroeconomics Annual 2002, Volume 17
2002
w9402 Aubhik Khan
Robert G. King
Alexander L. Wolman

Optimal Monetary Policy
w9381 Ricardo J. Caballero
Mohamad L. Hammour

Speculative Growth
w9382 Jesus Fernandez-Villaverde
Dirk Krueger

Consumption over the Life Cycle: Facts from Consumer Expenditure Survey Data
w9384 Anil K. Kashyap
Sorting Out Japan's Financial Crisis
w9385 Takero Doi
Takeo Hoshi

Paying for the FILP
w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects
w9391 Pierre-Olivier Gourinchas
Aaron Tornell

Exchange Rate Dynamics, Learning and Misperception
w9361 William D. Nordhaus
The Economic Consequences of a War in Iraq
w9364 Joao Gomes
Amir Yaron
Lu Zhang

Asset Prices and Business Cycles with Costly External Finance
w9366 Mark Hugget
Gustavo Ventura
Amir Yaron

Human Capital and Earnings Distribution Dynamics
w9367 Robert Dekle
The Deteriorating Fiscal Situation and an Aging Population
w9370 V. V. Chari
Patrick J. Kehoe

Time Consistency and Free-Riding in a Monetary Union
w9373 Casey B. Mulligan
Capital, Interest, and Aggregate Intertemporal Substitution
w9374 Casey B. Mulligan
Capital Tax Incidence: First Impressions from the Time Series
w9375 N. Gregory Mankiw
Ricardo Reis

What Measure of Inflation Should a Central Bank Target?
w9377 Daron Acemoglu
Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics
w9378 Daron Acemoglu
Simon Johnson
James Robinson

The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth
w9356 Melvin Stephens Jr.
Paycheck Receipt and the Timing of Consumption
hosh02-1 Takeo Hoshi
Toshihiro Ihori and Sadao Nagaoka
editors

Issues in Fiscal Adjustment (NBER-CEPR-TCER conference)
w9345 Maurice Obstfeld
Alan M. Taylor

Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31
w9348 Jeeman Jung
Robert J. Shiller

One Simple Test of Samuelson's Dictum for the Stock Market
w9349 Wouter J. DenHaan
Temporary Shocks and Unavoidable Transistions to a High-Unemployment Regime
w9333 Peter L. Rousseau
Historical Perspectives on Financial Development and Economic Growth
w9320 Julio J. Rotemberg
Customer Anger at Price Increases, Time Variation in the Frequency of Price Changes and Monetary Policy
w9325 Charles I. Jones
Why Have Health Expenditures as a Share fo GDP Risen So Much?
w9331 Steven J. Davis
Felix Kubler
Paul Willen

Borrowing Costs and the Demand for Equity Over the Life Cycle
w9306 Alan Auerbach
Is There a Role for Discretionary Fiscal Policy?
w9308 Matthew D. Shapiro
Joel Slemrod

Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys
w9292 Jonathan Heathcote
Fabrizio Perri

Financial Globalization and Real Regionalization
w9294 Martin Uribe
Real Exchange Rate Targeting and Macroeconomic Instability
w9297 Stanley Fischer
Financial Crises and Reform of the International Financial System
w9279 Boyan Jovanovic
Peter L. Rousseau

Mergers as Reallocation
w9284 Edward L. Glaeser
Jesse M. Shapiro

The Benefits of the Home Mortgage Interest Deduction
w9291 Frederic S. Mishkin
The Role of Output Stabilization in the Conduct of Monetary Policy
w9259 Stanley L. Engerman
Kenneth L. Sokoloff

Factor Endowments, Inequality, and Paths of Development Among New World Economics
w9261 George J. Hall
Exchange Rates and Casualties During the First World War
w9269 Philippe Aghion
Nicholas Bloom
Richard Blundell
Rachel Griffith
Peter Howitt

Competition and Innovation: An Inverted U Relationship
w9270 Stephanie Schmitt-Grohe
Martin Uribe

Closing Small Open Economy Models
w9272 Sung-Bae Mun
M. Ishaq Nadiri

Information Technology Externalities: Empirical Evidence from 42 U.S. Industries
w9274 Christina D. Romer
David H. Romer

The Evolution of Economic Understanding and Postwar Stabilization Policy
w9276 Barry Eichengreen
Still Fettered After All These Years
w9234 Raquel Fernandez
Alessandra Fogli
Claudia Olivetti

Marrying Your Mom: Preference Transmission and Women's Labor and Education Choices
w9235 Laurence Ball
Short-Run Money Demand
w9202 Dirk Krueger
Fabrizio Perri

Does Income Inequality Lead to Consumption Inequality? Evidence and Theory
w9203 Martin Feldstein
The Role for Discretionary Fiscal Policy in a Low Interest Rate Environment
w9208 Chang-Tai Hsieh
Enrico Moretti

Can Free Entry be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry
w9210 Andrew B. Abel
The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security
w9218 Bennett T. McCallum
Consistent Expectations, Rational Expectations, Multiple-Solution Indeterminacies, and Least-Squares Learnability
w9220 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy Under Sticky Prices
w9221 Martin Uribe
A Fiscal Theory of Sovereign Risk
w9150 Edward L. Glaeser
Andrei Shleifer

The Injustice of Inequality
w9178 John H. Cochrane
Monika Piazzesi

Bond Risk Premia
w9187 Joel Slemrod
Trust in Public Finance
w9191 Daron Acemoglu
Philippe Aghion
Fabrizio Zilibotti

Vertical Integration and Distance to Frontier
w9192 Eric M. Leeper
Tao Zha

Modest Policy Interventions
w9194 James J. Heckman
Flexibility and Job Creation: Lessons for Germany
w9196 Jonathan Parker
Bruce Preston

Precautionary Saving and Consumption Fluctuations
w9124 Daron Acemoglu
Simon Johnson
James Robinson
Yunyong Thaicharoen

Institutional Causes, Macroeconomic Symptoms: Volatility, Crises and Growth
w9127 James H. Stock
Mark W. Watson

Has the Business Cycle Changed and Why?
w9132 Alan J. Auerbach
Kevin A. Hassett

Optimal Long-Run Fiscal Policy: Constraints, Preferences and the Resolution of Uncertainty
w9118 Maurice Obstfeld
Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics
w9120 Lucia Foster
John Haltiwanger
C.J. Krizan

The Link Between Aggregate and Micro Productivity Growth: Evidence from Retail Trade
w9100 Hali J. Edison
Michael W. Klein
Luca Ricci
Torsten Sloek

Capital Account Liberalization and Economic Performance: Survey and Synthesis
w9104 Peter Howitt
David Mayer-Foulkes

R&D, Implementation and Stagnation: A Schumpeterian Theory of Convergence Clubs
w9106 William Easterly
Ross Levine

Tropics, Germs, and Crops: How Endowments Influence Economic Development
w9077 Patrick J. Kehoe
Fabrizio Perri

Competitive Equilibria With Limited Enforcement
w9084 David B. Gordon
Eric M. Leeper

The Price Level, the Quantity Theory of Money, and the Fiscal Theory of the Price Level
w9065 John F. Helliwell
How's Life? Combining Individual and National Variables to Explain Subjective Well-Being
w9066 Daron Acemoglu
Philippe Aghion
Fabrizio Zilibotti

Distance to Frontier, Selection, and Economic Growth
w9069 Mark Bils
Peter J. Klenow

Some Evidence on the Importance of Sticky Prices
w9072 Alberto Alesina
Robert J. Barro
Silvana Tenreyro

Optimal Currency Areas
w9063 Eric M. Leeper
Tao Zha

Empirical Analysis of Policy Interventions
w9034 Urban Jermann
Vincenzo Quadrini

Stock Market Boom and the Productivity Gains of the 1990s
w9006 Philippe Aghion
Alberto Alesina
Francesco Trebbi

Endogenous Political Institutions
w9013 Daron Acemoglu
David H. Autor
David Lyle

Women, War and Wages: The Effect of Female Labor Supply on the Wage Structure at Mid-Century
w8992 Frederic S. Mishkin
Eugene N. White

U.S. Stock Market Crashes and Their Aftermath: Implications for Monetary Policy
w9005 Lawrence J. Christiano
Christopher Gust
Jorge Roldos

Monetary Policy in a Financial Crisis
w8987 John H. Cochrane
Stocks as Money: Convenience Yield and the Tech-Stock Bubble
fran02-1 Jeffrey A. Frankel and Francesco Giavazzi
editors

International Seminar on Macroeconomics
w8966 Michael D. Bordo
Olivier Jeanne

Boom-Busts in Asset Prices, Economic Instability, and Monetary Policy
w8972 Benjamin M. Friedman
The Use and Meaning of Words in Central Banking: Inflation Targeting, Credibility, and Transparency
w8951 Robert J. Barro
Jong-Wha Lee

IMF Programs: Who is Chosen and What Are the Effects?
w8953 Michael Kremer
Seema Jayachandran

Odious Debt
w8930 Stanley Fischer
Ratna Sahay
Carlos A. Vegh

Modern Hyper- and High Inflations
w8931 Robert J. Barro
Rachel M. McCleary

Religion and Political Economy in an International Panel
w8933 Xavier Sala-i-Martin
The World Distribution of Income (estimated from Individual Country Distributions)
w8937 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Shortages and Banking Crises
w8938 William D. Nordhaus
The Mildest Recession: Output, Profits, and Stock Prices as the U.S. Emerges from the 2001 Recession
w8940 Laurence Ball
N. Gregory Mankiw

The NAIRU in Theory and Practice
w8941 Russell W. Cooper
Estimation and Identification of Structural Parameters in the Presence of Multiple Equilibria
w8948 Nathan D. Grawe
Casey B. Mulligan

Economic Interpretations of Intergenerational Correlations
w8919 Julio J. Rotemberg
Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles
w8920 John Ameriks
Andrew Caplin
John Leahy

Wealth Accumulation and the Propensity to Plan
w8907 Sean Nicholson
Nicholas S. Souleles

Physician Income Prediction Errors: Sources and Implications for Behavior
w8912 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

Expectation Traps and Monetary Policy
w8897 Sylvie Demurger
Jeffrey D. Sachs
Wing Thye Woo
Shuming Bao
Gene Chang
Andrew Mellinger

Geography, Economic Policy, and Regional Development in China
w8905 Jordi Gali
Tommaso Monacelli

Monetary Policy and Exchange Rate Volatility in a Small Open Economy
w8882 Christian Jensen
Bennett C. McCallum

The Non-Optimality of Proposed Monetary Policy Rules Under Timeless-Perspective Commitment
w8889 Robert Gibbons
Lawrence F. Katz
Thomas Lemieux
Daniel Parent

Comparative Advantage, Learning, and Sectoral Wage Determination
w8892 Raphael Bergoeing
Patrick J. Kehoe
Timothy J. Kehoe
Raimundo Soto

Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s
w8896 Annette Vissing-Jorgensen
Limited Asset Market Participation and the Elasticity of Intertemporal Substitution
w8865 Steinar Holden
The Costs of Price Stability - Downward Nominal Wage Rigidity in Europe
w8839 John H. Cochrane
Monika Piazzesi

The Fed and Interest Rates: A High-Frequency Identification
w8849 Robert E. Hall
Industry Dynamics with Adjustment Costs
w8850 Jordi Gali
Mark Gertler
J. David Lopez-Salido

Markups, Gaps, and the Welfare Costs of Business Fluctuations
w8823 Yoshiaki Azuma
Herschel I. Grossman

A Theory of the Informal Sector
w8831 Daron Acemoglu
James A. Robinson

Economic Backwardness in Political Perspective
w8832 Daron Acemoglu
Cross-Country Inequality Trends
w8818 William D. Nordhaus
The Health of Nations: The Contribution of Improved Health to Living Standards
w8800 Christina D. Romer
David H. Romer

A Rehabilitation of Monetary Policy in the 1950s
w8801 David Card
Richard B. Freeman

What Have Two Decades of British Economic Reform Delivered?
w8785 Laurence Ball
Robert Tchaidze

The Fed and the New Economy
w8767 Jordi Gali
New Perspectives on Monetary Policy, Inflation, and the Business Cycle
w8768 Jordi Gali
J. David Lopez-Salido
Javier Valles

Technology Shocks and Monetary Policy: Assessing the Fed's Performance
w8771 Robert J. Gordon
Technology and Economic Performance in the American Economy
w8775 Casey B. Mulligan
A Dual Method of Empirically Evaluating Dynamic Competitive Equilibrium Models with Market Distortions, Applied to the Great Depression & World War II
w8748 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

Why Are Rates of Inflation So Low After Large Devaluations?
w8758 Ricardo J. Caballero
Arvind Krishnamurthy

A Dual Liquidity Model for Emerging Markets
w8733 Herschel I. Grossman
Constitution or Conflict?
w8735 John Ameriks
Andrew Caplin
John Leahy

Retirement Consumption: Insights from a Survey
w8736 Victor Zarnowitz
Ataman Ozyildirim

Time Series Decomposition and Measurement of Business Cycles, Trends and Growth Cycles
w8740 Boyan Jovanovic
Peter L. Rousseau

The Q-Theory of Mergers
w8742 Sebnem Kalemli-Ozcan
David N. Weil

Mortality Change, the Uncertainty Effect, and Retirement
w8712 David Hummels
Peter J. Klenow

The Variety and Quality of a Nation's Trade
w8713 David E. Bloom
David Canning
Jaypee Sevilla

Technological Diffusion, Conditional Convergence, and Economic Growth
w8714 David E. Bloom
David Canning
Jaypee Sevilla

The Wealth of Nations: Fundamental Forces Versus Poverty Traps
w8722 Andrew Atkeson
Patrick J. Kehoe

Measuring Organization Capital
w8726 Neville Francis
Valerie A. Ramey

Is the Technology-Driven Real Business Cycle Hypothesis Dead?
bern02-1 Ben S. Bernanke and Kenneth Rogoff
editors

NBER Macroeconomics Annual 2001, Volume 16
2001
w8672 Matthew D. Shapiro
Joel Slemrod

Consumer Response to Tax Rebates
w8673 Michael Woodford
Imperfect Common Knowledge and the Effects of Monetary Policy
w8674 Michael Woodford
Monetary Policy in the Information Economy
w8676 Andrew Atkeson
Patrick J. Kehoe

The Transition to a New Economy After the Second Industrial Revolution
w8681 Andrew Atkeson
Patrick J. Kehoe

The Advantage of Transparent Instruments of Monetary Policy
w8696 Edward L. Glaeser
Jesse M. Shapiro

Cities and Warfare: The Impact of Terrorism on Urban Form
w8645 Alberto Alesina
Ignazio Angeloni
Federico Etro

The Political Economy of International Unions
w8646 Alberto Alesina
Ignazio Angeloni
Federico Etro

Institutional Rules for Federations
w8647 Alberto Alesina
Ignazio Angeloni
Ludger Schuknecht

What Does the European Union Do?
w8649 Andrew B. Abel
On the Invariance of the Rate of Return to Convex Adjustment Costs
w8613 Edward L. Glaeser
Public Ownership in the American City
w8614 N. Gregory Mankiw
Ricardo Reis

Sticky Information: A Model of Monetary Nonneutrality and Structural Slumps
w8617 Frederic S. Mishkin
The Transmission Mechanism and the Role of Asset Prices in Monetary Policy
w8622 Ellen R. McGrattan
Edward C. Prescott

The Stock Market Crash of 1929: Irving Fisher Was Right!
w8623 Ellen R. McGrattan
Edward C. Prescott

Taxes, Regulations, and Asset Prices
w8635 Andrew B. Abel
On the Invariance of the Rate of Return to Convex Adjustment Costs
higu01-1 Yoshi Higuchi
Takeo Hoshi and Sadao Nagaoka
editors

Unemployment (NBER-CEPR-TCER conference)
w8580 Raquel Fernandez
Nezih Guner
John Knowles

Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality
w8590 Casey B. Mulligan
Charles G. Hunter

The Empirical Frequency of a Pivotal Vote
w8591 Joydeep Bhattacharya
Casey B. Mulligan
Robert R. Reed III

Labor Market Search and Optimal Retirement Policy
w8598 Edward L. Glaeser
Joseph Gyourko

Urban Decline and Durable Housing
w8600 Tilak Abeysinghe
Kristin J. Forbes

Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia
w8604 Richard Clarida
Jordi Gali
Mark Gertler

Optimal Monetary Policy in Closed versus Open Economies: An Integrated Approach
w8606 Karl E. Case
Robert J. Shiller
John M. Quigley

Comparing Wealth Effects: The Stock Market Versus the Housing Market
w8496 Christopher D. Carroll
Miles S. Kimball

Liquidity Constraints and Precautionary Saving
w8501 Robert Shimer
The Assignment of Workers to Jobs In an Economy with Coordination Frictions
w8512 Stanley L. Engerman
Kenneth L. Sokoloff

The Evolution of Suffrage Institutions in the New World
w8513 Katharine G. Abraham
Robert Shimer

Changes in Unemployment Duration and Labor Force Attachment
w8517 Donald R. Davis
David E. Weinstein

Bones, Bombs and Break Points: The Geography of Economic Activity
w8518 Donald R. Davis
David E. Weinstein

Market Size, Linkages, and Productivity: A Study of Japanese Regions
w8520 Raphael Bergoeing
Patrick J. Kehoe
Timothy J. Kehoe
Raimundo Soto

A Decade Lost and Found: Mexico and Chile in the 1980s
w8526 Giuseppe Bertola
Francine D. Blau
Lawrence M. Kahn

Comparative Analysis of Labor Market Outcomes: Lessons for the US from International Long-Run Evidence
w8527 Russell W. Cooper
Jonathan L. Willis

The Economics of Labor Adjustment: Mind the Gap
w8530 Alwyn Young
Demographic Fluctuations, Generational Welfare and Intergenerational Transfers
w8532 Francesco Caselli
Massimo Morelli

Bad Politicians
w8536 Sean Nicholson
Nicholas S. Souleles

Physician Income Expectations and Specialty Choice
w8539 Lawrence J. Christiano
Massimo Rostagno

Money Growth Monitoring and the Taylor Rule
w8558 Jeffrey R. Campbell
Beverly Lapham

Real Exchange Rate Fluctuations and the Dynamics of Retail Trade Industries on the U.S.-Canada Border
w8460 Daron Acemoglu
Simon Johnson
James A. Robinson

Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution
w8463 Wouter Den Haan
Christian Haefke
Garey Ramey

Shocks and Institutions in a Job Matching Model
w8471 N. Gregory Mankiw
U.S. Monetary Policy During the 1990s
w8475 Marianne Baxter
Dorsey D. Farr

The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International Evidence
w8488 Douglas W. Elmendorf
Jeffrey B. Liebman
David W. Wilcox

Fiscal Policy and Social Security Policy During the 1990s
w8407 Michael Dotsey
Robert G. King

Pricing, Production and Persistence
w8409 David B. Gross
Nicholas S. Souleles

An Empirical Analysis of Personal Bankruptcy and Delinquency
w8410 Nicholas S. Souleles
Consumer Sentiment: Its Rationality and Usefulness in Forecasting Expenditure - Evidence from the Michigan Micro Data
w8421 Laurence Ball
Robert Moffitt

Productivity Growth and the Phillips Curve
w8423 Marvin Goodfriend
Robert G. King

The Case for Price Stability
w8426 Robert Barsky
Mark Bergen
Shantanu Dutta
Daniel Levy

What Can the Price Gap between Branded and Private Label Products Tell Us about Markups?
w8427 Ricardo Caballero
Arvind Krishnamurthy

Smoothing Sudden Stops
w8428 Ricardo Caballero
Arvind Krishnamurthy

A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems
w8430 Robert H. McGuckin
Ataman Ozyildirim
Victor Zarnowitz

The Composite Index of Leading Economic Indicators: How to Make It More Timely
w8434 Steven J. Davis
The Quality Distribution of Jobs and the Structure of Wages in Search Equilibrium
w8359 Susanto Basu
John G. Fernald
Matthew D. Shapiro

Productivity Growth in the 1990s: Technology, Utilization, or Adjustment?
w8360 Fernando Alvarez
Urban J. Jermann

The Size of the Permanent Component of Asset Pricing Kernels
w8365 Ben S. Bernanke
Refet S. Gurkaynak

Is Growth Exogenous? Taking Mankiw, Romer and Weil Seriously
w8369 Maurice Obstfeld
International Macroeconomics: Beyond the Mundell-Fleming Model
w8377 Raquel Fernandez
Education, Segregation and Marital Sorting: Theory and an Application to UK Data
w8379 Ben S. Bernanke
Jean Boivin

Monetary Policy in a Data-Rich Environment
w8390 Osmel Manzano
Roberto Rigobon

Resource Curse or Debt Overhang?
w8392 Marianne Baxter
Dorsey Farr

Variable Factor Utilization and International Business Cycles
w8403 Lawrence J. Christiano
Martin Eichenbaum
Charles Evans

Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
w8320 Douglas Staiger
James H. Stock
Mark W. Watson

Prices, Wages and the U.S. NAIRU in the 1990s
w8330 Robert J. Barro
Economic Growth in East Asia Before and After the Financial Crisis
ecks01-1 Zvi Eckstein and Andrew Rose
editors

International Seminar on Macroeconomics
w8270 Laurence Ball
N. Gregory Mankiw

Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design
w8277 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

On the Fiscal Implications of Twin Crises
w8287 Daron Acemoglu
Directed Technical Change
w8290 N. Gregory Mankiw
Ricardo Reis

Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve
w8296 Kala Krishna
Cemile Yavas

Lumpy Consumer Durables, Market Power, and Endogenous Business Cycles
w8206 Yoshiaki Azuma
Herschel I. Grossman

Educational Inequality
w8218 Jordi Gali
Mark Gertler
J. David Lopez-Salido

European Inflation Dynamics
w8219 Olivier Blanchard
Augustin Landier

The Perverse Effects of Partial Labor Market Reform: Fixed Duration Contracts in France
w8221 John Y. Campbell
Robert J. Shiller

Valuation Ratios and the Long-Run Stock Market Outlook: An Update
w8225 Bennett T. McCallum
Inflation Targeting and the Liquidity Trap
w8226 Bennett T. McCallum
Should Monetary Policy Respond Strongly to Output Gaps?
w8243 Martin N. Baily
Robert Lawrence

Do We Have A New E-Conomy?
w8245 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Does Financial Liberalization Spur Growth?
w8250 Michael Kremer
Alexei Onatski
James Stock

Searching for Prosperity
w8255 Lars E.O. Svensson
Michael Woodford

Indicator Variables for Optimal Policy under Asymmetric Information
w8257 Michael Kremer
Benjamin A. Olken

A Biological Model of Unions
w8159 Casey B. Mulligan
Aggregate Implications of Indivisible Labor
w8174 Bennett T. McCallum
Monetary Policy Analysis in Models Without Money
w8175 Bennett T. McCallum
Edward Nelson

Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices
w8180 James H. Stock
Mark W. Watson

Forecasting Output and Inflation: The Role of Asset Prices
w8182 Russell Cooper
Joao Ejarque

Exhuming Q: Market Power vs. Capital Market Imperfections
w8192 Edward E. Leamer
The Life Cycle of US Economic Expansions
w8107 Pierre-Olivier Gourinchas
Jonathan A. Parker

The Empirical Importance of Precautionary Saving
w8109 Herschel I. Grossman
Juan Mendoza

Annexation or Conquest? The Economics of Empire Building
w8113 Chang-Tai Hsieh
Christina D. Romer

Was the Federal Reserve Fettered? Devaluation Expectations in the 1932 Monetary Expansion
w8114 John W. McArthur
Jeffrey D. Sachs

Institutions and Geography: Comment on Acemoglu, Johnson and Robinson (2000)
w8117 Edward L. Glaeser
Matthew E. Kahn

Decentralized Employment and the Transformation of the American City
w8119 Jeffrey D. Sachs
Tropical Underdevelopment
w8120 Olivier Blanchard
Francesco Giavazzi

Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
w8131 Andrew B. Abel
Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?
w8139 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

How Severe is the Time Inconsistency Problem in Monetary Policy?
w8141 Ricardo J. Caballero
Arvind Krishnamurthy

International Liquidity Illusion: On the Risks of Sterilization
w8071 Michael Woodford
Inflation Stabilization and Welfare
w8072 Michael Woodford
Fiscal Requirements for Price Stability
w8077 Ellen R. McGrattan
Edward C. Prescott

Is the Stock Market Overvalued?
w8095 William D. Nordhaus
Alternative Methods for Measuring Productivity Growth
w8096 William D. Nordhaus
Productivity Growth and the New Economy
w8097 William D. Nordhaus
New Data and Output Concepts for Understanding Productivity Trends
w8104 Aart Kraay
Jaume Ventura

Comparative Advantage and the Cross-section of Business Cycles
bern01-1 Ben S. Bernanke and Kenneth Rogoff
editors

NBER Macroeconomics Annual 2000, Volume 15
c11051 Ben S. Bernanke
Kenneth Rogoff

Front matter, table of contents
c11052 Ben S. Bernanke
Kenneth Rogoff

Editorial in "NBER Macroeconomics Annual 2000, Volume 15"
c11053 Ben S. Bernanke
Kenneth Rogoff

Abstracts
c11054 Daron Acemoglu
Joshua Angrist

How Large are Human-Capital Externalities? Evidence from Compulsory-Schooling Laws
c11055 Allan Drazen
The Political Business Cycle After 25 Years
c11056 Stephen Morris
Hyun Song Shin

Rethinking Multiple Equilibria in Macroeconomic Modeling
c11057 Harold L. Cole
Lee E. Ohanian

Re-Examining the Contributions of Money and Banking Shocks to the U.S. Great Depression
c11058 Francisco Rodriguez
Dani Rodrik

Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-National Evidence
c11059 Maurice Obstfeld
Kenneth Rogoff

The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
2000
w8023 Michael J. Boskin
Lawrence J. Lau

Generalized Solow-Neutral Technical Progress and Postwar Economic Growth
w8030 Christopher L. House
John V. Leahy

An sS Model with Adverse Selection
w8033 Albert Ando
On the Japanese Economy and Japanese National Accounts
w8040 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

The Welfare Cost of Business Cycles Revisited: Finite Lives and Cyclical Variation in Idiosyncratic Risk
w8041 William A. Brock
Steven N.Durlauf

Growth Economics and Reality
w8043 Robert J. Barro
Silvana Tenreyro

Closed and Open Economy Models of Business Cycles with Marked Up and Sticky Prices
w8053 Edward L. Glaeser
Jose Scheinkman

Non-Market Interactions
w7995 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

Consumption and Risk Sharing Over the Life Cycle
w8022 Rodolfo E. Manuelli
Technological Change, the Labor Market and the Stock Market
w7981 Judith A. Chevalier
Anil K. Kashyap
Peter E. Rossi

Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data
w7936 Jeffrey R. Campbell
Jonas D.M.Fisher

Idiosyncratic Risk and Aggregate Employment Dynamics
w7940 Susanto Basu
John Fernald

Why Is Productivity Procyclical? Why Do We Care?
w7953 Lars E.O. Svensson
Michael Woodford

Indicator Variables for Optimal Policy
w7954 James D. Hamilton
Dong Heon Kim

A Re-examination of the Predictability of Economic Activity Using the Yield Spread
w7971 Ricardo Caballero
Arvind Krishnamurthy

International and Domestic Collateral Constraints