NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Economic Fluctuations and Growth Archive


2012
w18661 Marcus Hagedorn
Tzuo Hann Law
Iourii Manovskii

Identifying Equilibrium Models of Labor Market Sorting

w18654 Nancy L. Stokey
Catching Up and Falling Behind

w18651 Jordi Galí
Notes for a New Guide to Keynes (I): Wages, Aggregate Demand, and Employment

w18650 Laura Alfaro
Anusha Chari

Deregulation, Misallocation, and Size: Evidence from India

w18647 Roger E.A. Farmer
Carine Nourry
Alain Venditti

The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in the Real World

w18646 A. Craig Burnside
Jeremy J. Graveline

On the Asset Market View of Exchange Rates

w18643 Daiji Kawaguchi
Jungmin Lee
Daniel S. Hamermesh

A Gift of Time

w18638 Julio J. Rotemberg
Prominent Job Advertisements, Group Learning and Wage Dispersion

w18628 Javier Bianchi
Juan Carlos Hatchondo
Leonardo Martinez

International Reserves and Rollover Risk

w18611 Gary Gorton
Andrew Metrick

Securitization

w18603 Michael C. Burda
Daniel S. Hamermesh
Jay Stewart

Cyclical Variation in Labor Hours and Productivity Using the ATUS

w18602 David Lagakos
Benjamin Moll
Tommaso Porzio
Nancy Qian

Experience Matters: Human Capital and Development Accounting

w18584 Wojciech Kopczuk
Taxation of Intergenerational Transfers and Wealth

w18578 Alan J. Auerbach
Yuriy Gorodnichenko

Output Spillovers from Fiscal Policy

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

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

w18563 Alberto Cavallo
Brent Neiman
Roberto Rigobon

Currency Unions, Product Introductions, and the Real Exchange Rate

w18556 Geert Bekaert
Alexander Popov

On the Link Between the Volatility and Skewness of Growth

w18550 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Missallocation and Financial Frictions: Some Direct Evidence From the Dispersion in Borrowing Costs

w18546 Klaus Desmet
Esteban Rossi-Hansberg

On the Spatial Economic Impact of Global Warming

w18545 Marina Halac
Pierre Yared

Fiscal Rules and Discretion under Persistent Shocks

w18544 Stephanie Schmitt-Grohé
Martín Uribe

The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery

w18534 Diego A. Comin
Mikhail Dmitriev
Esteban Rossi-Hansberg

The Spatial Diffusion of Technology

w18532 Natalia Ramondo
Andrés Rodríguez-Clare
Milagro Saborío-Rodríguez

Scale Effects and Productivity Across Countries: Does Country Size Matter?

w18529 Gary D. Hansen
Minchung Hsu
Junsang Lee

Health Insurance Reform: The Impact of a Medicare Buy-In

w18522 David Card
Jörg Heining
Patrick Kline

Workplace Heterogeneity and the Rise of West German Wage Inequality

w18520 Robert A. Moffitt
The U.S. Employment-Population Reversal in the 2000s: Facts and Explanations

w18512 Alberto F. Alesina
Stelios Michalopoulos
Elias Papaioannou

Ethnic Inequality

w18510 Jonathan A. Parker
LEADS on Macroeconomic Risks to and from the Household Sector

w18507 Greg Kaplan
Sam Schulhofer-Wohl

Understanding the Long-Run Decline in Interstate Migration

w18501 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

Merging Simulation and Projection Approaches to Solve High-Dimensional Problems

w18493 Elizabeth M. Caucutt
Lance Lochner

Early and Late Human Capital Investments, Borrowing Constraints, and the Family

w18490 Alwyn Young
The African Growth Miracle

w18473 Nir Jaimovich
Sergio Rebelo

Non-linear Effects of Taxation on Growth

w18471 Nick Netzer
Florian Scheuer

A Game Theoretic Foundation of Competitive Equilibria with Adverse Selection

w18470 Alessandra Fogli
Laura Veldkamp

Germs, Social Networks and Growth

w18467 Domenico Giannone
Michele Lenza
Giorgio E. Primiceri

Prior Selection for Vector Autoregressions

w18456 John Hassler
Per Krusell
Conny Olovsson

Energy-Saving Technical Change

w18451 Pierre Collin-Dufresne
Vyacheslav Fos

Insider Trading, Stochastic Liquidity and Equilibrium Prices

w18450 Frederico Belo
Pierre Collin-Dufresne
Robert S. Goldstein

Endogenous Dividend Dynamics and the Term Structure of Dividend Strips

w18447 Alessandra Fogli
Enoch Hill
Fabrizio Perri

The Geography of the Great Recession

w18438 Stelios Michalopoulos
Alireza Naghavi
Giovanni Prarolo

Trade and Geography in the Origins and Spread of Islam

w18435 Kewei Hou
Chen Xue
Lu Zhang

Digesting Anomalies: An Investment Approach

w18432 Finn E. Kydland
Peter Rupert
Roman Sustek

Housing Dynamics over the Business Cycle

w18431 Luis Felipe Céspedes
Roberto Chang
Andrés Velasco

Financial Intermediation, Exchange Rates, and Unconventional Policy in an Open Economy

w18421 Roger E.A. Farmer
Qualitative Easing: How it Works and Why it Matters

w18420 Susanto Basu
Brent Bundick

Uncertainty Shocks in a Model of Effective Demand

w18416 Richard Hornbeck
Pinar Keskin

Does Agriculture Generate Local Economic Spillovers? Short-run and Long-run Evidence from the Ogallala Aquifer

w18413 Jess Benhabib
Pengfei Wang
Yi Wen

Sentiments and Aggregate Demand Fluctuations

w18408 Zhiguo He
Konstantin Milbradt

Endogenous Liquidity and Defaultable Bonds

w18406 Florian Scheuer
Adverse Selection In Credit Markets and Regressive Profit Taxation

w18400 Karl E. Case
Robert J. Shiller
Anne Thompson

What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets

w18399 Jesus Fernandez-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Estimating Dynamic Equilibrium Models with Stochastic Volatility

w18397 Gary B. Gorton
Some Reflections on the Recent Financial Crisis

w18391 Francis X. Diebold
Comparing Predictive Accuracy, Twenty Years Later: A Personal Perspective on the Use and Abuse of Diebold-Mariano Tests

w18381 Emmanuel Farhi
Iván Werning

Fiscal Multipliers: Liquidity Traps and Currency Unions

w18377 Russell Cooper
Fragile Debt and the Credible Sharing of Strategic Uncertainty

w18360 Guillermo Ordoñez
The Asymmetric Effects of Financial Frictions

w18370 Robert E. Hall
The Cyclical Response of Advertising Refutes Counter-Cyclical Profit Margins in Favor of Product-Market Frictions

w18366 Loukas Karabarbounis
Home Production, Labor Wedges, and International Real Business Cycles

w18362 Hideaki Hirata
M. Ayhan Kose
Christopher Otrok
Marco E. Terrones

Global House Price Fluctuations: Synchronization and Determinants

w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses

w18354 Laurence Ales
Pricila Maziero
Pierre Yared

A Theory of Political and Economic Cycles

w18353 Kristopher Gerardi
Eric Rosenblatt
Paul S. Willen
Vincent Yao

Foreclosure externalities: Some new evidence

w18348 Seonghoon Cho
Bennett T. McCallum

Refining Linear Rational Expectations Models and Equilibria

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

w18334 Nir Jaimovich
Henry E. Siu

The Trend is the Cycle: Job Polarization and Jobless Recoveries

w18333 Edward L. Glaeser
Sari Pekkala Kerr
William R. Kerr

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines

w18315 Robert J. Gordon
Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds

w18323 Bennett T. McCallum
A Continuity Refinement for Rational Expectations Solutions

w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers

w18308 Adam Bee
Bruce D. Meyer
James X. Sullivan

The Validity of Consumption Data: Are the Consumer Expenditure Interview and Diary Surveys Informative?

w18307 John Kennan
Open Borders

w18305 Ravi Bansal
Dana Kiku
Amir Yaron

Risks For the Long Run: Estimation with Time Aggregation

w18304 Efraim Benmelech
An Empirical Analysis of the Fed's Term Auction Facility

w18296 Richard Hornbeck
Suresh Naidu

When the Levee Breaks: Black Migration and Economic Development in the American South

w18295 Robert J. Barro
Convergence and Modernization Revisited

w18284 Roger E.A. Farmer
The Evolution of Endogenous Business Cycles

w18283 Jeffrey A. Frankel
Jesse Schreger

Over-optimistic Official Forecasts in the Eurozone and Fiscal Rules

w18278 Bruce A. Blonigen
Anca D. Cristea

Airports and Urban Growth: Evidence from a Quasi-Natural Policy Experiment

w18280 Ivan Werning
Emmanuel Farhi

Fiscal Unions

w18276 S. Boragan Aruoba
Morris A. Davis
Randall Wright

Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes

w18275 Stelios Michalopoulos
Elias Papaioannou

National Institutions and Subnational Development in Africa

w18273 Olivier Coibion
Yuriy Gorodnichenko
Gee Hee Hong

The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications

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

Letter Grading Government Efficiency

w18265 Ayşegül Şahin
Joseph Song
Giorgio Topa
Giovanni L. Violante

Mismatch Unemployment

w18259 Lorenzo Caliendo
Ferdinando Monte
Esteban Rossi-Hansberg

The Anatomy of French Production Hierarchies

w18245 Nicholas Bloom
Max Floetotto
Nir Jaimovich
Itay Saporta-Eksten
Stephen J. Terry

Really Uncertain Business Cycles

w18235 Frank R. Lichtenberg
Pharmaceutical Innovation and Longevity Growth in 30 Developing and High-income Countries, 2000-2009

w18228 Casey Rothschild
Florian Scheuer

Redistributive Taxation in the Roy Model

w18225 Quamrul Ashraf
Boris Gershman
Peter Howitt

How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation

w18224 Stelios Michalopoulos
Elias Papaioannou

Pre-colonial Ethnic Institutions and Contemporary African Development

w18222 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Prediction Markets for Economic Forecasting

w18220 Brigitte C. Madrian
Matching Contributions and Savings Outcomes: A Behavioral Economics Perspective

w18218 Per Krusell
Leena Rudanko

Unions in a Frictional Labor Market

w18217 Zhiguo He
Péter Kondor

Inefficient Investment Waves

w18215 Bennett T. McCallum
Determinacy, Learnability, Plausibility, and the Role of Money in New Keynesian Models

w18213 Etienne Gagnon
David López-Salido
Nicolas Vincent

Individual Price Adjustment along the Extensive Margin

w18199 Emmanuel Farhi
Ivan Werning

Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates

w18193 Francesc Ortega
Giovanni Peri

The Effect of Trade and Migration on Income

w18191 George Alessandria
Joseph Kaboski
Virgiliu Midrigan

Trade Wedges, Inventories, and International Business Cycles

w18181 John H. Cochrane
Continuous-Time Linear Models

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

w18170 Olivier Coibion
Yuriy Gorodnichenko
Lorenz Kueng
John Silvia

Innocent Bystanders? Monetary Policy and Inequality in the U.S.

w18162 William Easterly
Ross Levine

The European Origins of Economic Development

w18154 Loukas Karabarbounis
Brent Neiman

Declining Labor Shares and the Global Rise of Corporate Saving

w18152 Fernando Alvarez
Francesco Lippi

The Demand of Liquid Assets with Uncertain Lumpy Expenditures

w18151 Mikhail Golosov
Pricila Maziero
Guido Menzio

Taxation and Redistribution of Residual Income Inequality

w18149 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Testing for Keynesian Labor Demand

w18142 Miles S. Kimball
"Getting the Biggest Bang for the Buck in Fiscal Policy"

w18139 Daniel Berkowitz
Mark Hoekstra
Koen Schoors

Does Finance Cause Growth? Evidence from the Origins of Banking in Russia

w18133 Chang-Tai Hsieh
Peter J. Klenow

The Life Cycle of Plants in India and Mexico

w18130 Enrico Spolaore
Romain Wacziarg

How Deep Are the Roots of Economic Development?

w18128 Emi Nakamura
Dmitriy Sergeyev
Jón Steinsson

Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence

w18124 Dana Medianu
John Whalley

Water Availability as a Constraint on China's Future Growth

w18102 Markus K. Brunnermeier
Thomas M. Eisenbach
Yuliy Sannikov

Macroeconomics with Financial Frictions: A Survey

w18114 Jess Benhabib
George W. Evans
Seppo Honkapohja

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?

w18104 Ravi Bansal
Dana Kiku
Ivan Shaliastovich
Amir Yaron

Volatility, the Macroeconomy and Asset Prices

w18094 James H. Stock
Mark W. Watson

Disentangling the Channels of the 2007-2009 Recession

w18091 Jess Benhabib
Jesse Perla
Christopher Tonetti

Catch-up and Fall-back through Innovation and Imitation

w18088 Casey B. Mulligan
Do Welfare Policies Matter for Labor Market Aggregates? Quantifying Safety Net Work Incentives since 2007

w18085 Jordi Galí
Frank Smets
Rafael Wouters

Slow Recoveries: A Structural Interpretation

w18084 Torben G. Andersen
Tim Bollerslev
Peter F. Christoffersen
Francis X. Diebold

Financial Risk Measurement for Financial Risk Management

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

w18079 Emin M. Dinlersoz
Jeremy Greenwood

The Rise and Fall of Unions in the U.S.

w18077 Thomas Philippon
Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation

w18074 Jess Benhabib
Pengfei Wang

Financial Constraints, Endogenous Markups, and Self-fulfilling Equilibria

w18072 Philippe Aghion
Emmanuel Farhi
Enisse Kharroubi

Monetary Policy, Liquidity, and Growth

w18066 Mark Huggett
Greg Kaplan

The Money Value of a Man

w18062 Andrew K. Rose
Protectionism Isn’t Counter‐Cyclic (anymore)

w18059 Todd M. Sinai
House Price Moments in Boom-Bust Cycles

w18058 Jesús Fernández-Villaverde
Grey Gordon
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Nonlinear Adventures at the Zero Lower Bound

w18048 Philippe Aghion
Mathias Dewatripont
Luosha Du
Ann Harrison
Patrick Legros

Industrial Policy and Competition

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

w18035 Fatih Guvenen
Serdar Ozkan
Jae Song

The Nature of Countercyclical Income Risk

w18031 Stephanie Schmitt-Grohe
Martin Uribe

Prudential Policy for Peggers

w18022 Melvyn G. Coles
Dale T. Mortensen

Equilibrium Labor Turnover, Firm Growth and Unemployment

w18007 Roger E.A. Farmer
The Effect of Conventional and Unconventional Monetary Policy Rules on Inflation Expectations: Theory and Evidence

w18004 Asli Demirguc-Kunt
Erik Feyen
Ross Levine

The Evolving Importance of Banks and Securities Markets

w17982 Orazio Attanasio
Erik Hurst
Luigi Pistaferri

The Evolution of Income, Consumption, and Leisure Inequality in The US, 1980-2010

w17978 Mario J. Crucini
Christopher I. Telmer

Microeconomic Sources of Real Exchange Rate Variability

w17971 Susanto Basu
Luigi Pascali
Fabio Schiantarelli
Luis Serven

Productivity and the Welfare of Nations

w17966 Jesse Rothstein
The Labor Market Four Years Into the Crisis: Assessing Structural Explanations

w17962 Christopher L. House
Jing Zhang

Layoffs, Lemons and Temps

w17958 Rüdiger Bachmann
Tim O. Berg
Eric R. Sims

Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence

w17956 Martin S. Eichenbaum
Nir Jaimovich
Sergio Rebelo
Josephine Smith

How Frequent Are Small Price Changes?

w17948 Russell Cooper
Guan Gong
Ping Yan

Costly Labor Adjustment: Effects of China's Employment Regulations

w17944 Pierpaolo Benigno
Federica Romei

Debt Deleveraging and The Exchange Rate

w17937 Laurence Ales
Roozbeh Hosseini
Larry E. Jones

Is There “Too Much” Inequality in Health Spending Across Income Groups?

w17934 Nobuhiro Kiyotaki
John Moore

Liquidity, Business Cycles, and Monetary Policy

w17924 Rüdiger Bachmann
Lin Ma

Lumpy Investment, Lumpy Inventories

w17923 Fernando E. Alvarez
Francesco Lippi

Price Setting with menu cost for Multi-product firms

w17917 Richard W. Evans
Laurence J. Kotlikoff
Kerk L. Phillips

Game Over: Simulating Unsustainable Fiscal Policy

w17909 Charles A.E. Goodhart
Anil K Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Financial Regulation in General Equilibrium

w17908 Russell Cooper
Exit from a Monetary Union through Euroization: Discipline without Chaos

w17905 Francisco J. Buera
Joseph P. Kaboski
Yongseok Shin

The Macroeconomics of Microfinance

w17903 Eric M. Leeper
Todd B. Walker

Perceptions and Misperceptions of Fiscal Inflation

w17900 Cosmin Ilut
Martin Schneider

Ambiguous Business Cycles

w17898 Andrew Atkeson
Christian Hellwig
Guillermo Ordonez

Optimal Regulation in the Presence of Reputation Concerns

w17897 Abhijit Banerjee
Esther Duflo
Nancy Qian

On the Road: Access to Transportation Infrastructure and Economic Growth in China

w17880 Sebastian Dyrda
Greg Kaplan
José-Víctor Ríos-Rull

Business Cycles and Household Formation: The Micro vs the Macro Labor Elasticity

w17877 Maurice Obstfeld
Does the Current Account Still Matter?

w17876 Veronica Guerrieri
Robert Shimer

Dynamic Adverse Selection: A Theory of Illiquidity, Fire Sales, and Flight to Quality

w17872 Karen K. Lewis
Edith X. Liu

International Consumption Risk Is Shared After All: An Asset Return View

w17862 Mathias Trabandt
Harald Uhlig

How Do Laffer Curves Differ Across Countries?

w17860 Christina D. Romer
David H. Romer

The Incentive Effects of Marginal Tax Rates: Evidence from the Interwar Era

w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective

w17853 Lucia Foster
John C. Haltiwanger
Chad Syverson

The Slow Growth of New Plants: Learning about Demand?

w17850 Nicholas Bloom
Christos Genakos
Raffaella Sadun
John Van Reenen

Management Practices Across Firms and Countries

w17844 Huixin Bi
Eric M. Leeper
Campbell B. Leith

Uncertain Fiscal Consolidations

w17841 Stéphane Hallegatte
Geoffrey Heal
Marianne Fay
David Treguer

From Growth to Green Growth - a Framework

w17836 Laurence M. Ball
Ben Bernanke and the Zero Bound

w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises

w17830 Atif R. Mian
Amir Sufi

What explains high unemployment? The aggregate demand channel

w17822 Shekhar Aiyar
Charles W. Calomiris
Tomasz Wieladek

Does Macro-Pru Leak? Evidence from a UK Policy Experiment

w17814 Johannes F. Schmieder
Till M. von Wachter
Stefan Bender

The Long-Term Effects of Unemployment Insurance Extensions on Employment

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

w17794 Nathan Nunn
Nancy Qian

Aiding Conflict: The Impact of U.S. Food Aid on Civil War

w17791 Daniel F. Waggoner
Tao Zha

Confronting Model Misspecification in Macroeconomics

w17787 Valerie A. Ramey
Government Spending and Private Activity

w17783 Xavier Gabaix
Boundedly Rational Dynamic Programming: Some Preliminary Results

w17782 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger

Recruiting Intensity during and after the Great Recession: National and Industry Evidence

w17780 Joon-Ho Hahm
Frederic S. Mishkin
Hyun Song Shin
Kwanho Shin

Macroprudential Policies in Open Emerging Economies

w17779 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Ayşegül Şahin

Is Labor Supply Important for Business Cycles?

w17775 Francisco J. Buera
Benjamin Moll

Aggregate Implications of a Credit Crunch

w17767 Ariel Burstein
Javier Cravino

Measured Aggregate Gains from International Trade

w17769 Leonid Kogan
Dimitris Papanikolaou
Amit Seru
Noah Stoffman

Technological Innovation, Resource Allocation, and Growth

w17759 James D. Hamilton
Oil Prices, Exhaustible Resources, and Economic Growth

w17757 John Hassler
Per Krusell

Economics and Climate Change: Integrated Assessment in a Multi-Region World

w17746 Guido Menzio
Irina A. Telyukova
Ludo Visschers

Directed Search over the Life Cycle

w17742 Lars-Alexander Kuehn
Nicolas Petrosky-Nadeau
Lu Zhang

An Equilibrium Asset Pricing Model with Labor Market Search

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

w17723 Tim Landvoigt
Monika Piazzesi
Martin Schneider

The Housing Market(s) of San Diego


2011
w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates

w17714 Tom Krebs
Moritz Kuhn
Mark L. J. Wright

Human Capital Risk, Contract Enforcement, and the Macroeconomy

w17701 William R. Kerr
Income Inequality and Social Preferences for Redistribution and Compensation Differentials

w17700 Timothy J. Kehoe
Felipe Meza

Catch-up Growth Followed by Stagnation: Mexico, 1950–2010

w17688 Mariacristina De Nardi
Eric French
David Benson

Consumption and the Great Recession

w17686 Eric van Wincoop
International Contagion Through Leveraged Financial Institutions

w17672 Matthias Doepke
Michèle Tertilt
Alessandra Voena

The Economics and Politics of Women's Rights

w17666 Kristopher Gerardi
Lauren Lambie-Hanson
Paul S. Willen

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

w17662 Emmanuel Farhi
Gita Gopinath
Oleg Itskhoki

Fiscal Devaluations

w17659 Rui Castro
Gian Luca Clementi
Yoonsoo Lee

Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks

w17656 Francesco Caselli
Antonio Ciccone

The Contribution of Schooling in Development Accounting: Results from a Nonparametric Upper Bound

w17654 Casey B. Mulligan
The Expanding Social Safety Net

w17651 Paul Beaudry
Deokwoo Nam
Jian Wang

Do Mood Swings Drive Business Cycles and is it Rational?

w17642 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski

Optimal Dynamic Taxes

w17641 Maurice Obstfeld
The International Monetary System: Living with Asymmetry

w17640 Quamrul Ashraf
Oded Galor

Cultural Diversity, Geographical Isolation, and the Origin of the Wealth of Nations

w17638 Steven J. Davis
Till M. von Wachter

Recessions and the Cost of Job Loss

w17622 Fatih Guvenen
Macroeconomics With Heterogeneity: A Practical Guide

w17620 Stelios Michalopoulos
Elias Papaioannou

The Long-Run Effects of the Scramble for Africa

w17617 Martin S. Feldstein
The Euro and European Economic Conditions

w17607 Orley C. Ashenfelter
Economic History or History of Economics? A Review Essay on Sylvia Nasar’s Grand Pursuit: the Story of Economic Genius

w17601 Francesco Caselli
Andrea Tesei

Resource Windfalls, Political Regimes, and Political Stability

w17600 John Cawley
Asako S. Moriya
Kosali I. Simon

The Impact of the Macroeconomy on Health Insurance Coverage: Evidence from the Great Recession

w17594 Gita Gopinath
Oleg Itskhoki
Brent Neiman

Trade Prices and the Global Trade Collapse of 2008-2009

w17584 Casey B. Mulligan
Rising Labor Productivity during the 2008-9 Recession

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

w17575 Ravi Bansal
Marcelo Ochoa

Temperature, Aggregate Risk, and Expected Returns

w17574 Ravi Bansal
Marcelo Ochoa

Welfare Costs of Long-Run Temperature Shifts

w17571 Roberto Perotti
The "Austerity Myth": Gain Without Pain?

w17566 Fernando E. Alvarez
Francesco Lippi

Persistent Liquidity Effects and Long Run Money Demand

w17564 Ian Martin
The Forward Premium Puzzle in a Two-Country World

w17563 Ian Martin
The Lucas Orchard

w17562 Marco Battaglini
Stephen Coate

Fiscal Policy and Unemployment

w17560 Nicolas Coeurdacier
Pierre-Olivier Gourinchas

When Bonds Matter: Home Bias in Goods and Assets

w17555 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy

w17553 Costas Arkolakis
A Unified Theory of Firm Selection and Growth

w17552 Guido Sandleris
Mark L.J. Wright

The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis

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’?

w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information

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?

w17546 Dani Rodrik
Unconditional Convergence

w17544 Aaron Weisbrod
John Whalley

The Contribution of Chinese FDI to Africa’s Pre Crisis Growth Surge

w17543 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Supply-Side Policies and the Zero Lower Bound

w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector

w17537 Karsten Jeske
Dirk Krueger
Kurt Mitman

Housing and the Macroeconomy: The Role of Bailout Guarantees for Government Sponsored Enterprises

w17536 James M. Poterba
Steven F. Venti
David A. Wise

The Composition and Draw-down of Wealth in Retirement

w17534 Jesse Rothstein
Unemployment Insurance and Job Search in the Great Recession

w17520 Allen Head
Lucy Qian Liu
Guido Menzio
Randall Wright

Sticky Prices: A New Monetarist Approach

w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions

w17512 Jonathan Chiu
Cesaire Meh
Randall Wright

Innovation and Growth with Financial, and other, Frictions

w17511 Yuet-Yee Wong
Randall Wright

Buyers, Sellers and Middlemen: Variations on Search-Theoretic Themes

w17510 Chao Gu
Randall Wright

Endogenous Credit Cycles

w17508 Raquel Fernández
Joyce Cheng Wong

The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work

w17500 Yiting Li
Guillaume Rocheteau
Pierre-Olivier Weill

Liquidity and the Threat of Fraudulent Assets

w17495 Robert E. Lucas
Jr.
Benjamin Moll

Knowledge Growth and the Allocation of Time

w17493 Andrew Atkeson
Ariel T. Burstein

Aggregate Implications of Innovation Policy

w17490 Francis X. Diebold
Kamil Yilmaz

On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms

w17489 Florin O. Bilbiie
Ippei Fujiwara
Fabio Ghironi

Optimal Monetary Policy with Endogenous Entry and Product Variety

w17487 Benjamin F. Jones
The Human Capital Stock: A Generalized Approach

w17479 Roger E.A. Farmer
The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence

w17454 Tobias Adrian
Markus K. Brunnermeier

CoVaR

w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis

w17464 Lubos Pastor
Pietro Veronesi

Political Uncertainty and Risk Premia

w17457 Mark A. Aguiar
Manuel Amador

Fiscal Policy in Debt Constrained Economies

w17448 Igor Livshits
James MacGee
Michèle Tertilt

Costly Contracts and Consumer Credit

w17447 Alan J. Auerbach
Yuriy Gorodnichenko

Fiscal Multipliers in Recession and Expansion

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

w17433 Gianmarco I.P. Ottaviano
Firm Heterogeneity, Endogenous Entry, and the Business Cycle

w17430 Michael P. Keane
Richard Rogerson

Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective

w17429 Alejandro Justiniano
Claudio Michelacci

The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the US and Europe

w17424 Yuriy Gorodnichenko
Anna Mikusheva
Serena Ng

Estimators for Persistent and Possibly Non-Stationary Data with Classical Properties

w17421 S. Boragan Aruoba
Francis X. Diebold
Jeremy Nalewaik
Frank Schorfheide
Dongho Song

Improving GDP Measurement: A Forecast Combination Perspective

w17420 Lee E. Ohanian
Andrea Raffo

Aggregate Hours Worked in OECD Countries: New Measurement and Implications for Business Cycles

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

w17406 Gregory J. Colman
Dhaval M. Dave

Exercise, Physical Activity, and Exertion over the Business Cycle

w17400 Dani Rodrik
The Future of Economic Convergence

w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment

w17398 Benjamin A. Olken
Rohini Pande

Corruption in Developing Countries

w17391 Emi Nakamura
Jón Steinsson

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions

w17389 Tommaso Monacelli
Vincenzo Quadrini
Antonella Trigari

Financial Markets and Unemployment

w17377 Quamrul H. Ashraf
David N. Weil
Joshua Wilde

The Effect of Interventions to Reduce Fertility on Economic Growth

w17348 Mikhail Golosov
John Hassler
Per Krusell
Aleh Tsyvinski

Optimal Taxes on Fossil Fuel in General Equilibrium

w17347 Ralph Ossa
Trade Wars and Trade Talks with Data

w17344 Ivan Werning
Managing a Liquidity Trap: Monetary and Fiscal Policy

w17338 Greg Kaplan
Giovanni L. Violante

A Model of the Consumption Response to Fiscal Stimulus Payments

w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives

w17328 Robert J. Barro
José F. Ursua

Rare Macroeconomic Disasters

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

w17313 Kyle F. Herkenhoff
Lee E. Ohanian

Labor Market Dysfunction During the Great Recession

w17311 Aubhik Khan
Julia K. Thomas

Credit Shocks and Aggregate Fluctuations in an Economy with Production Heterogeneity

w17308 Lorenzo Caliendo
Esteban Rossi-Hansberg

The Impact of Trade on Organization and Productivity

w17294 Steven J. Davis
Jason Faberman
John C. Haltiwanger

Labor Market Flows in the Cross Section and Over Time

w17291 Paul Beaudry
Franck Portier

A Gains from Trade Perspective on Macroeconomic Fluctuations

w17284 Melvyn G. Coles
Dale T. Mortensen

Equilibrium Wage and Employment Dynamics in a Model of Wage Posting without Commitment

w17278 Craig Burnside
Carry Trades and Risk

w17277 François Gourio
Michael Siemer
Adrien Verdelhan

International Risk Cycles

w17274 Laurence M. Ball
Nicolás De Roux
Marc Hofstetter

Unemployment in Latin America and the Caribbean

w17260 Martin S. Feldstein
What's Next for the Dollar?

w17259 Mark A. Aguiar
Erik Hurst
Loukas Karabarbounis

Time Use During Recessions

w17252 Pierre-Olivier Gourinchas
Maurice Obstfeld

Stories of the Twentieth Century for the Twenty-First

w17240 Jonathan A. Parker
On Measuring the Effects of Fiscal Policy in Recessions

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

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

w17201 Fabrizio Perri
Vincenzo Quadrini

International Recessions

w17191 Francois Gourio
Leena Rudanko

Customer Capital

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

w17179 Robert E. Hall
Clashing Theories of Unemployment

w17158 Nicola Gennaioli
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Human Capital and Regional Development

w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees

w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor

w17142 Lawrence Christiano
Daisuke Ikeda

Government Policy, Credit Markets and Economic Activity

w17140 Hyungsik Roger Moon
Frank Schorfheide
Eleonora Granziera
Mihye Lee

Inference for VARs Identified with Sign Restrictions

w17137 Roger Farmer
Animal Spirits, Financial Crises and Persistent Unemployment

w17133 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Risk, Monetary Policy and the Exchange Rate

w17130 Xiaohong Chen
Jack Favilukis
Sydney C. Ludvigson

An Estimation of Economic Models with Recursive Preferences

w17128 Angus S. Deaton
The Financial Crisis and the Well-Being of Americans

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

w17100 Nune Hovhannisyan
Wolfgang Keller

International Business Travel: An Engine of Innovation?

w17098 Alberto F. Alesina
Paola Giuliano
Nathan Nunn

On the Origins of Gender Roles: Women and the Plough

w17094 Charles I. Jones
Life and Growth

w17084 Jordi Galí
Frank Smets
Rafael Wouters

Unemployment in an Estimated New Keynesian Model

w17075 Oded Galor
Stelios Michalopoulos

Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits

w17071 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Is there a trade-off between inflation and output stabilization?

w17064 Harold L. Cole
Felix Kubler

Recursive Contracts, Lotteries and Weakly Concave Pareto Sets

w17063 Rüdiger Bachmann
Eric R. Sims

Confidence and the Transmission of Government Spending Shocks

w17060 George-Marios Angeletos
Jennifer La'O

Decentralization, Communication, and the Origins of Fluctuations

w17058 Oded Galor
Inequality, Human Capital Formation and the Process of Development

w17057 Oded Galor
The Demographic Transition: Causes and Consequences

w17045 Zheng Liu
Pengfei Wang
Tao Zha

Land-price dynamics and macroeconomic fluctuations

w17044 Laurence M. Ball
Sandeep Mazumder

Inflation Dynamics and the Great Recession

w17041 Erik Hurst
Benjamin Wild Pugsley

What Do Small Businesses Do?

w17037 Quamrul Ashraf
Oded Galor

Dynamics and Stagnation in the Malthusian Epoch

w17034 Olivier Coibion
Are the Effects of Monetary Policy Shocks Big or Small?

w17027 Tarek A. Hassan
Thomas M. Mertens

The Social Cost of Near-Rational Investment

w17026 Francois Gourio
Credit Risk and Disaster Risk

w17021 Simon Gilchrist
Egon Zakrajšek

Credit Spreads and Business Cycle Fluctuations

w17005 Bennett T. McCallum
Should Central Banks Raise their Inflation Targets? Some Relevant Issues

w16996 Martin Lettau
Sydney C. Ludvigson

Shocks and Crashes

w16988 Igal Hendel
Aviv Nevo

Intertemporal Price Discrimination in Storable Goods Markets

w16984 Daron Acemoglu
Diversity and Technological Progress

w16979 Fiorella De Fiore
Harald Uhlig

Bank Finance Versus Bond Finance

w16972 John H. Cochrane
Discount Rates

w16970 Marco Bassetto
Leslie McGranahan

On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States

w16968 Jed Kolko
David Neumark
Marisol Cuellar Mejia

What Do Business Climate Indexes Teach Us About State Policy and Economic Growth?

w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects

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"

w16965 Thomas Philippon
Virgiliu Midrigan

Household Leverage and the Recession

w16958 Gita Gopinath
Brent Neiman

Trade Adjustment and Productivity in Large Crises

w16957 Yosef Bonaparte
Russell Cooper
Guozhong Zhu

Consumption Smoothing and Portfolio Rebalancing: The Effects of Adjustment Costs

w16951 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Foresight and Information Flows

w16945 Jeffrey A. Frankel
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile

w16942 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Carry Trade and Momentum in Currency Markets

w16934 Edward L. Glaeser
Giacomo A.M. Ponzetto
Kristina Tobio

Cities, Skills, and Regional Change

w16924 Andrew Glover
Jonathan Heathcote
Dirk Krueger
José-Víctor Ríos-Rull

Intergenerational Redistribution in the Great Recession

w16911 Xavier Gabaix
A Sparsity-Based Model of Bounded Rationality

w16904 Ariel Burstein
Jonathan Vogel

Factor Prices and International Trade: A Unifying Perspective

w16891 Betsey Stevenson
Justin Wolfers

Trust in Public Institutions over the Business Cycle

w16889 Janice C. Eberly
Sergio Rebelo
Nicolas Vincent

What Explains the Lagged Investment Effect?

w16867 Ippei Fujiwara
Tomoyuki Nakajima
Nao Sudo
Yuki Teranishi

Global Liquidity Trap

w16862 Rüdiger Bachmann
Christian Bayer

Uncertainty Business Cycles - Really?

w16861 Rüdiger Bachmann
Christian Bayer

Investment Dispersion and the Business Cycle

w16848 Karl E. Case
John M. Quigley
Robert J. Shiller

Wealth Effects Revisited 1978-2009

w16847 Stephanie Schmitt-Grohé
Martin Uríbe

Pegs and Pain

w16843 Chong Wang
Neng Wang
Jinqiang Yang

Dynamics of Entrepreneurship under Incomplete Markets

w16836 Hyun Song Shin
Kwanho Shin

Procyclicality and Monetary Aggregates

w16832 Jess Benhabib
Alejandro Corvalan
Mark M. Spiegel

Reestablishing the Income-Democracy Nexus

w16829 John F. Helliwell
Haifang Huang

New measures of the costs of unemployment: Evidence from the subjective well-being of 3.3 million Americans

w16819 Eric M. Leeper
Todd B. Walker

Fiscal Limits in Advanced Economies

w16816 Jess Benhabib
Chetan Dave

Learning, Large Deviations and Rare Events

w16810 Sydney C. Ludvigson
Advances in Consumption-Based Asset Pricing: Empirical Tests

w16807 Mark A. Aguiar
Mark Bils

Has Consumption Inequality Mirrored Income Inequality?

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

w16790 James D. Hamilton
Historical Oil Shocks

w16786 Roberto Perotti
The Effects of Tax Shocks on Output: Not So Large, But Not Small Either

w16784 Patrick Bayer
Christopher Geissler
James W. Roberts

Speculators and Middlemen: The Role of Intermediaries in the Housing Market

w16781 Frank Schorfheide
Estimation and Evaluation of DSGE Models: Progress and Challenges

w16777 Nicolae Gârleanu
Lasse Heje Pedersen

Margin-Based Asset Pricing and Deviations from the Law of One Price

w16775 Hyunseung Oh
Ricardo Reis

Targeted Transfers and the Fiscal Response to the Great Recession

w16774 Ellen R. McGrattan
Transition to FDI Openness: Reconciling Theory and Evidence

w16771 Dennis Tao Yang
Junsen Zhang
Shaojie Zhou

Why Are Saving Rates so High in China?

w16769 Robert J. Barro
Rachel M. McCleary

Saints Marching In, 1590-2009

w16764 Alexander David
Pietro Veronesi

Investors’ and Central Bank’s Uncertainty Embedded in Index Options

w16759 James Feyrer
Bruce Sacerdote

Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act

w16758 Isabel Correia
Emmanuel Farhi
Juan Pablo Nicolini
Pedro Teles

Unconventional Fiscal Policy at the Zero Bound

w16755 Frederic S. Mishkin
Monetary Policy Strategy: Lessons from the Crisis

w16752 Russell Cooper
Hubert Kempf

Deposit Insurance Without Commitment: Wall St. Versus Main St

w16750 Emmanuel Farhi
Jean Tirole

Bubbly Liquidity

w16749 Emmanuel Farhi
Iván Werning

Insurance and Taxation over the Life Cycle

w16748 Kerwin Kofi Charles
Erik Hurst
Alexandra Killewald

Marital Sorting and Parental Wealth

w16747 Laura Xiaolei Liu
Lu Zhang

A Model of Momentum

w16744 Severin Borenstein
On the Persistent Financial Losses of U.S. Airlines: A Preliminary Exploration

w16742 Charles I. Jones
Misallocation, Economic Growth, and Input-Output Economics

w16741 Robert E. Hall
The Long Slump

w16734 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Understanding Booms and Busts in Housing Markets

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

w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts

w16717 Nicholas Bloom
Mirko Draca
John Van Reenen

Trade Induced Technical Change? The Impact of Chinese Imports on Innovation, IT and Productivity

w16708 Kenneth Judd
Lilia Maliar
Serguei Maliar

One-node Quadrature Beats Monte Carlo: A Generalized Stochastic Simulation Algorithm

w16707 Olivier Coibion
Yuriy Gorodnichenko

Why Are Target Interest Rate Changes So Persistent?

w16705 David E. Bloom
David Canning
Günther Fink

Implications of Population Aging for Economic Growth

w16701 Sam Schulhofer-Wohl
Negative Equity Does Not Reduce Homeowners' Mobility

w16696 Pierre-André Chiappori
Krislert Samphantharak
Sam Schulhofer-Wohl
Robert M. Townsend

Heterogeneity and Risk Sharing in Village Economies

w16688 Charles W. Calomiris
Joseph Mason
David Wheelock

Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach

w16685 Atif Mian
Amir Sufi
Francesco Trebbi

Foreclosures, House Prices, and the Real Economy

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

w16680 Judith A. Chevalier
Anil K Kashyap

Best Prices

w16666 Jonathan Eaton
Samuel Kortum
Brent Neiman
John Romalis

Trade and the Global Recession

w16658 Nicholas Bloom
Benn Eifert
Aprajit Mahajan
David McKenzie
John Roberts

Does Management Matter? Evidence from India

w16657 James D. Hamilton
Michael T. Owyang

The Propagation of Regional Recessions


2010
w16648 Ralph S.J. Koijen
Stijn Van Nieuwerburgh

Predictability of Returns and Cash Flows

w16646 Frédéric Docquier
Çaǧlar Özden
Giovanni Peri

The Wage Effects of Immigration and Emigration

w16644 Roger E.A. Farmer
Dmitry Plotnikov

Does Fiscal Policy Matter? Blinder and Solow Revisited

w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics

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

w16640 Fernando A. Broner
Jaume Ventura

Rethinking the Effects of Financial Liberalization

w16636 Richard Rogerson
Individual and Aggregate Labor Supply With Coordinated Working Times

w16634 Craig Burnside
Identification and Inference in Linear Stochastic Discount Factor Models with Excess Returns

w16633 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Second-Order Approximation of Dynamic Models with Time-Varying Risk

w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation

w16619 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski
Matthew Weinzierl

Preference Heterogeneity and Optimal Capital Income Taxation

w16618 Jesús Fernández-Villaverde
Juan Rubio-Ramírez

Macroeconomics and Volatility: Data, Models, and Estimation

w16615 Klaus Desmet
Esteban Rossi-Hansberg

Urban Accounting and Welfare

w16609 Frederic S. Mishkin
Over The Cliff: From the Subprime to the Global Financial Crisis

w16599 Kenneth J. Arrow
Partha Dasgupta
Lawrence H. Goulder
Kevin J. Mumford
Kirsten Oleson

Sustainability and the Measurement of Wealth

w16596 Larry E. Jones
Alice Schoonbroodt

Baby Busts and Baby Booms: The Fertility Response to Shocks in Dynastic Models

w16592 John Whalley
Xiliang Zhao

The Contribution of Human Capital to China’s Economic Growth

w16588 Ellen R. McGrattan
Capital Taxation During the U.S. Great Depression

w16580 Timothy J. Kehoe
Kim J. Ruhl

Why Have Economic Reforms in Mexico Not Generated Growth?

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

w16571 David K. Levine
Production Chains

w16544 Fredrik Andersson
Mónica García-Pérez
John C. Haltiwanger
Kristin McCue
Seth Sanders

Workplace Concentration of Immigrants

w16541 Ryan Kellogg
The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling

w16537 Olivier Coibion
Yuriy Gorodnichenko

Information Rigidity and the Expectations Formation Process: A Simple Framework and New Facts

w16536 Greg Kaplan
Sam Schulhofer-Wohl

Interstate Migration Has Fallen Less Than You Think: Consequences of Hot Deck Imputation in the Current Population Survey

w16532 James H. Stock
Mark W. Watson

Estimating Turning Points Using Large Data Sets

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?

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

Optimal Unemployment Insurance over the Business Cycle

w16522 Roger E.A. Farmer
Animal Spirits, Persistent Unemployment and the Belief Function

w16515 Eric A. Hanushek
Ludger Woessmann

How Much Do Educational Outcomes Matter in OECD Countries?

w16514 Stephanie Schmitt-Grohé
Martín Uribe

Liquidity Traps: An Interest-Rate-Based Exit Strategy

w16443 Ufuk Akcigit
William R. Kerr

Growth Through Heterogeneous Innovations

w16510 Eric M. Leeper
Monetary Science, Fiscal Alchemy

w16505 John F. Cogan
John B. Taylor

What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package

w16498 Russell Cooper
Guan Gong
Ping Yan

Dynamic Labor Demand in China: Public and Private Objectives

w16495 Troy Davig
Eric M. Leeper
Todd B. Walker

Inflation and the Fiscal Limit

w16488 James H. Stock
Mark W. Watson

Modeling Inflation After the Crisis

w16487 Dave Donaldson
Railroads of the Raj: Estimating the Impact of Transportation Infrastructure

w16469 Francis X. Diebold
Georg Strasser

On the Correlation Structure of Microstructure Noise: A Financial Economic Approach

w16458 Antje Berndt
Hanno Lustig
Sevin Yeltekin

How Does the U.S. Government Finance Fiscal Shocks?

w16451 Martin S. Feldstein
Preventing a National Debt Explosion

w16441 Daniel W. Sacks
Betsey Stevenson
Justin Wolfers

Subjective Well-Being, Income, Economic Development and Growth

w16424 Vasco M. Carvalho
Xavier Gabaix

The Great Diversification and its Undoing

w16416 Harald Uhlig
Economics and Reality

w16411 Daron Acemoglu
Dan Vu Cao

Innovation by Entrants and Incumbents

w16410 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Dynamics of Information Exchange in Endogenous Social Networks

w16402 Lawrence Christiano
Cosmin L. Ilut
Roberto Motto
Massimo Rostagno

Monetary Policy and Stock Market Booms

w16401 Yongsung Chang
Sun-Bin Kim
Frank Schorfheide

Labor-Market Heterogeneity, Aggregation, and the Lucas Critique

w16400 Francisco J. Buera
Yongseok Shin

Financial Frictions and the Persistence of History: A Quantitative Exploration

w16399 Alberto Martin
Jaume Ventura

Theoretical Notes on Bubbles and the Current Crisis

w16393 Pedro Teles
Harald Uhlig

Is Quantity Theory Still Alive?

w16390 Zhi Wang
Shang-Jin Wei
Anna Wong

Does a Leapfrogging Growth Strategy Raise Growth Rate? Some International Evidence

w16386 Pierpaolo Benigno
Luigi Paciello

Monetary Policy, Doubts and Asset Prices

w16384 Jordi Galí
Are Central Banks' Projections Meaningful?

w16380 Robert J. Gordon
Robert Krenn

The End of the Great Depression 1939-41: Policy Contributions and Fiscal Multipliers

w16379 Diego A. Comin
Martí Mestieri

An Intensive Exploration of Technology Diffusion

w16378 Diego A. Comin
Bart Hobijn

Technology Diffusion and Postwar Growth

w16377 Olivier Jeanne
Anton Korinek

Managing Credit Booms and Busts: A Pigouvian Taxation Approach

w16375 Erika Färnstrand Damsgaard
Per Krusell

The World Distribution of Productivity: Country TFP Choice in a Nelson-Phelps Economy

w16374 Pierpaolo Benigno
Luca Antonio Ricci
Paolo Surico

Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility

w16368 Yuriy Gorodnichenko
Gerard Roland

Culture, Institutions and the Wealth of Nations

w16364 Patrick J. Kehoe
Virgiliu Midrigan

Prices are Sticky After All

w16363 Eric M. Leeper
Alexander W. Richter
Todd B. Walker

Quantitative Effects of Fiscal Foresight

w16357 Casey B. Mulligan
Does Labor Supply Matter During a Recession? Evidence from the Seasonal Cycle

w16352 Charles I. Jones
Peter J. Klenow

Beyond GDP? Welfare across Countries and Time

w16351 Atif Mian
Amir Sufi

The Effects of Fiscal Stimulus: Evidence from the 2009 ‘Cash for Clunkers’ Program

w16337 Adam Ashcraft
Nicolae Gârleanu
Lasse Heje Pedersen

Two Monetary Tools: Interest Rates and Haircuts

w16327 Fatih Guvenen
Anthony Smith

Inferring Labor Income Risk from Economic Choices: An Indirect Inference Approach

w16314 Hoyt Bleakley
Jeffrey Lin

Portage: Path Dependence and Increasing Returns in U.S. History

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

w16304 Serguei Maliar
Lilia Maliar
Kenneth L. Judd

Solving the Multi-Country Real Business Cycle Model Using Ergodic Set Methods

w16300 John C. Haltiwanger
Ron S. Jarmin
Javier Miranda

Who Creates Jobs? Small vs. Large vs. Young

w16289 Karel Mertens
Morten Ravn

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks

w16285 Andrew Caplin
John V. Leahy

Comparative Statics in Markets for Indivisible Goods

w16284 Andrew Caplin
John V. Leahy

A Graph Theoretic Approach to Markets for Indivisible Goods

w16277 Raquel Fernández
Does Culture Matter?

w16275 Mathias Dolls
Clemens Fuest
Andreas Peichl

Automatic Stabilizers and Economic Crisis: US vs. Europe

w16265 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger

The Establishment-Level Behavior of Vacancies and Hiring

w16264 S. Boragan Aruoba
Francis X. Diebold
M. Ayhan Kose
Marco E. Terrones

Globalization, the Business Cycle, and Macroeconomic Monitoring

w16247 Ruediger Bachmann
Jinhui Bai

Government Purchases Over the Business Cycle: the Role of Economic and Political Inequality

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?

w16237 Veronica Guerrieri
Daniel Hartley
Erik Hurst

Endogenous Gentrification and Housing Price Dynamics

w16230 Edward L. Glaeser
Joshua D. Gottlieb
Joseph Gyourko

Can Cheap Credit Explain the Housing Boom?

w16218 David K. Backus
Federico Gavazzoni
Christopher Telmer
Stanley E. Zin

Monetary Policy and the Uncovered Interest Parity Puzzle

w16208 Vasco Curdia
Michael Woodford

The Central-Bank Balance Sheet as an Instrument of Monetary Policy

w16186 James D. Hamilton
Nonlinearities and the Macroeconomic Effects of Oil Prices

w16183 Anisha Ghosh
George M. Constantinides

The Predictability of Returns with Regime Shifts in Consumption and Dividend Growth

w16181 Larry G. Epstein
Martin Schneider

Ambiguity and Asset Markets

w16169 Ryan Chahrour
Stephanie Schmitt-Grohé
Martín Uribe

A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier

w16163 Ryan D. Edwards
A Review of War Costs in Iraq and Afghanistan

w16162 James D. Hamilton
Calling Recessions in Real Time

w16159 Philippe Bacchetta
Cédric Tille
Eric van Wincoop

Self-Fulfilling Risk Panics

w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts

w16150 Jan Hatzius
Peter Hooper
Frederic S. Mishkin
Kermit L. Schoenholtz
Mark W. Watson

Financial Conditions Indexes: A Fresh Look after the Financial Crisis

w16146 Stefania Albanesi
Claudia Olivetti

Maternal Health and the Baby Boom

w16145 Christopher L. House
Yusufcan Masatlioglu

Managing Markets for Toxic Assets

w16143 Ruediger Bachmann
Steffen Elstner
Eric R. Sims

Uncertainty and Economic Activity: Evidence from Business Survey Data

w16130 Alessandro Barattieri
Susanto Basu
Peter Gottschalk

Some Evidence on the Importance of Sticky Wages

w16128 Lubos Pastor
Pietro Veronesi

Uncertainty about Government Policy and Stock Prices

w16115 Sebnem Kalemli-Ozcan
Belgi Turan

HIV and Fertility Revisited

w16108 Ryan D. Edwards
U.S. War Costs: Two Parts Temporary, One Part Permanent

w16095 Michael Woodford
Optimal Monetary Stabilization Policy

w16093 Olivier Coibion
Yuriy Gorodnichenko
Johannes F. Wieland

The Optimal Inflation Rate in New Keynesian Models

w16091 Javier Bianchi
Enrique G. Mendoza

Overborrowing, Financial Crises and 'Macro-prudential' Taxes

w16087 John H. Cochrane
Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic

w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets

w16075 Mario J. Crucini
Mototsugu Shintani

Measuring Business Cycles by Saving for a Rainy Day

w16074 Lawrence J. Christiano
Mathias Trabandt
Karl Walentin

DSGE Models for Monetary Policy Analysis

w16071 Stephanie Schmitt-Grohé
Martín Uribe

Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity

w16067 Valerie A. Ramey
Daniel J. Vine

Oil, Automobiles, and the U.S. Economy: How Much have Things Really Changed?

w16065 Gita Gopinath
Oleg Itskhoki

In Search of Real Rigidities

w16059 George Alessandria
Joseph P. Kaboski
Virgiliu Midrigan

The Great Trade Collapse of 2008-09: An Inventory Adjustment?

w16054 Stephanie Schmitt-Grohe
Martin Uribe

The Optimal Rate of Inflation

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

w16043 John Fernald
Brent Neiman

Growth Accounting with Misallocation: Or, Doing Less with More in Singapore

w16033 Robert E. Hall
Alan B. Krueger

Evidence on the Determinants of the Choice between Wage Posting and Wage Bargaining

w16032 Nicholas Bloom
Carol Propper
Stephan Seiler
John Van Reenen

The Impact of Competition on Management Quality: Evidence from Public Hospitals

w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes

w15979 Michael W. Elsby
Bart Hobijn
Aysegul Sahin

The Labor Market in the Great Recession

w16022 Yosef Bonaparte
Russell Cooper

Rationalizing Trading Frequency and Returns

w16007 Susan E. Woodward
Robert E. Hall

Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence

w16002 Benjamin Jones
As Science Evolves, How Can Science Policy?

w15998 Raj Chetty
Adam Szeidl

The Effect of Housing on Portfolio Choice

w15988 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium

w15986 Marc P. Giannoni
Optimal Interest-Rate Rules in a Forward-Looking Model, and Inflation Stabilization versus Price-Level Stabilization

w15983 Guido Menzio
Espen R. Moen

Worker replacement

w15981 Daniel Berger
William Easterly
Nathan Nunn
Shanker Satyanath

Commercial Imperialism? Political Influence and Trade During the Cold War

w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis

w15973 Abhijit Banerjee
Sendhil Mullainathan

The Shape of Temptation: Implications for the Economic Lives of the Poor

w15971 Casey B. Mulligan
The Housing Cycle and Prospects for Technical Progress

w15965 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

A Cluster-Grid Projection Method: Solving Problems with High Dimensionality

w15962 Hamish Low
Luigi Pistaferri

Disability Risk, Disability Insurance and Life Cycle Behavior

w15955 Patrick Bajari
Phoebe Chan
Dirk Krueger
Daniel Miller

A Dynamic Model of Housing Demand: Estimation and Policy Implications

w15949 Eric A. Hanushek
Ludger Woessmann

The Economics of International Differences in Educational Achievement

w15958 Daron Acemoglu
Gino Gancia
Fabrizio Zilibotti

Competing Engines of Growth: Innovation and Standardization

w15931 Tommaso Monacelli
Roberto Perotti
Antonella Trigari

Unemployment Fiscal Multipliers

w15929 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Reading the Recent Monetary History of the U.S., 1959-2007

w15928 Jesús Fernández-Villaverde
Pablo Guerrón-Quintana
Juan F. Rubio-Ramírez

Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data

w15927 Olivier Jeanne
Anton Korinek

Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach

w15923 Erik Snowberg
Justin Wolfers

Explaining the Favorite-Longshot Bias: Is it Risk-Love or Misperceptions?

w15920 Emi Nakamura
Jón Steinsson
Robert Barro
José Ursúa

Crises and Recoveries in an Empirical Model of Consumption Disasters

w15908 John B. Taylor
John C. Williams

Simple and Robust Rules for Monetary Policy

w15914 Costas Meghir
Luigi Pistaferri

Earnings, Consumption and Lifecycle Choices

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

w15902 Robert J. Barro
Jong-Wha Lee

A New Data Set of Educational Attainment in the World, 1950–2010

w15901 Richard Rogerson
Robert Shimer

Search in Macroeconomic Models of the Labor Market

w15897 Casey B. Mulligan
Luke Threinen

The Marginal Products of Residential and Non-Residential Capital Through 2009

w15896 Atif R. Mian
Amir Sufi

Household Leverage and the Recession of 2007 to 2009

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

w15883 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Beauty Contests and Irrational Exuberance: A Neoclassical Approach

w15879 Jean Boivin
Michael T. Kiley
Frederic S. Mishkin

How Has the Monetary Transmission Mechanism Evolved Over Time?

w15878 Edward P. Lazear
Why Do Inventories Rise When Demand Falls in Housing and Other Markets?

w15871 Jordi Galí
Monetary Policy and Unemployment

w15870 Alberto Martin
Jaume Ventura

Economic Growth with Bubbles

w15867 Eric A. Hanushek
Ludger Woessmann

Sample Selectivity and the Validity of International Student Achievement Tests in Economic Research

w15866 Craig Burnside
Bing Han
David Hirshleifer
Tracy Yue Wang

Investor Overconfidence and the Forward Premium Puzzle

w15859 Laurent E. Calvet
Paolo Sodini

Twin Picks: Disentangling the Determinants of Risk-Taking in Household Portfolios

w15852 Fernando E. Alvarez
Francesco Lippi
Luigi Paciello

Optimal price setting with observation and menu costs

w15847 Marco Del Negro
Fabrizio Perri
Fabiano Schivardi

Tax buyouts

w15835 Fernando E. Alvarez
Luigi Guiso
Francesco Lippi

Durable consumption and asset management with transaction and observation costs

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

w15826 Peter J. Klenow
Benjamin A. Malin

Microeconomic Evidence on Price-Setting

w15813 Philippe Aghion
Peter Howitt
Fabrice Murtin

The Relationship Between Health and Growth: When Lucas Meets Nelson-Phelps

w15810 Huixin Bi
Eric M. Leeper

Sovereign Debt Risk Premia and Fiscal Policy in Sweden

w15802 Diego Aragon
Andrew Caplin
Sumit Chopra
John V. Leahy
Yann LeCun
Marco Scoffier
Joseph Tracy

Reassessing FHA Risk

w15801 Lawrence J. Christiano
Mathias Trabandt
Karl Walentin

Involuntary Unemployment and the Business Cycle

w15800 Casey B. Mulligan
Simple Analytics and Empirics of the Government Spending Multiplier and Other “Keynesian” Paradoxes

w15792 Yuriy Gorodnichenko
Monika Schnitzer

Financial constraints and innovation: Why poor countries don't catch up

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

w15790 Paul Beaudry
David A. Green
Benjamin M. Sand

How Much Is Employment Increased by Cutting Labor Costs? Estimating the Elasticity of Job Creation

w15786 Liran Einav
Jonathan D. Levin

Empirical Industrial Organization: A Progress Report

w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection

w15782 Troy Davig
Eric M. Leeper
Todd B. Walker

"Unfunded Liabilities" and Uncertain Fiscal Financing

w15777 Casey B. Mulligan
Foreclosures, Enforcement, and Collections under the Federal Mortgage Modification Guidelines

w15775 Xavier Sala-i-Martin
Maxim Pinkovskiy

African Poverty is Falling...Much Faster than You Think!

w15774 Vasco Cúrdia
Ricardo Reis

Correlated Disturbances and U.S. Business Cycles

w15773 N. Gregory Mankiw
Ricardo Reis

Imperfect Information and Aggregate Supply

w15767 Pedro S. Martins
Gary Solon
Jonathan Thomas

Measuring What Employers Really Do about Entry Wages over the Business Cycle

w15762 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Output Trade-off with Downward Wage Rigidities

w15759 David Laibson
Johanna Mollerstrom

Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis

w15758 Jordi Galí
The Return of the Wage Phillips Curve

w15756 Orazio P. Attanasio
Guglielmo Weber

Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy

w15755 Paul M. Romer
Which Parts of Globalization Matter for Catch-up Growth?

w15754 Christopher J. Nekarda
Valerie A. Ramey

Industry Evidence on the Effects of Government Spending

w15739 Tullio Jappelli
Luigi Pistaferri

The Consumption Response to Income Changes

w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection

w15726 Takatoshi Ito
Great Inflation and Central Bank Independence in Japan

w15721 Robert W. Fogel
Further Comments on The Impact of the Asian Miracle on the Theory of Economic Growth

w15714 Michael Woodford
Simple Analytics of the Government Expenditure Multiplier

w15712 Chad Syverson
What Determines Productivity?

w15711 Benjamin F. Jones
Benjamin A. Olken

Climate Shocks and Exports

w15705 Fernanda Brollo
Tommaso Nannicini
Roberto Perotti
Guido Tabellini

The Political Resource Curse

w15702 George J. Hall
Thomas J. Sargent

Interest Rate Risk and Other Determinants of Post-WWII U.S. Government Debt/GDP Dynamics

w15690 Bennett T. McCallum
Is the Spurious Regression Problem Spurious?

w15688 Ralph S.J. Koijen
Hanno Lustig
Stijn Van Nieuwerburgh

The Cross-Section and Time-Series of Stock and Bond Returns

w15685 Martin S. Feldstein
U.S. Growth in the Decade Ahead

w15681 Casey B. Mulligan
Aggregate Implications of Labor Market Distortions: The Recession of 2008-9 and Beyond

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

w15675 Russell Cooper
John C. Haltiwanger
Jonathan L. Willis

Euler-Equation Estimation for Discrete Choice Models: A Capital Accumulation Application

w15663 Alice Schoonbroodt
Michèle Tertilt

Who Owns Children and Does it Matter?

w15662 Ricardo Reis
Interpreting the Unconventional U.S. Monetary Policy of 2007-09

w15657 S. Boragan Aruoba
Francis X. Diebold

Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions

w15652 Andrei Shleifer
Robert W. Vishny

Asset Fire Sales and Credit Easing

w15647 Virgiliu Midrigan
Daniel Yi Xu

Finance and Misallocation: Evidence from Plant-level Data

w15645 Peter Temin
The Great Recession and the Great Depression

w15642 Jean Boivin
Robert Clark
Nicolas Vincent

Virtual Borders: Online Nominal Rigidities and International Market Segmentation

w15636 Ricardo J. Caballero
The "Other" Imbalance and the Financial Crisis

w15630 Andrew Levin
John B. Taylor

Falling Behind the Curve: A Positive Analysis of Stop-Start Monetary Policies and the Great Inflation


2009
w15628 Costas Arkolakis
Arnaud Costinot
Andrés Rodríguez-Clare

New Trade Models, Same Old Gains?

w15626 Johannes C. Stroebel
John B. Taylor

Estimated Impact of the Fed’s Mortgage-Backed Securities Purchase Program

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

w15616 Raj Chetty
Bounds on Elasticities with Optimization Frictions: A Synthesis of Micro and Macro Evidence on Labor Supply

w15604 Natalia Ramondo
Andrés Rodríguez-Clare

Trade, Multinational Production, and the Gains from Openness

w15583 Alexander M. Gelber
Joshua W. Mitchell

Taxes and Time Allocation: Evidence from Single Women

w15582 Dirk Krueger
Fabrizio Perri

Public versus Private Risk Sharing

w15579 Susanto Basu
Luigi Pascali
Fabio Schiantarelli
Luis Serven

Productivity, Welfare and Reallocation: Theory and Firm-Level Evidence

w15570 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Investment Shocks and Business Cycles

w15561 Stefano Eusepi
Bruce Preston

Labor Supply Heterogeneity and Macroeconomic Co-movement

w15557 James Feyrer
Distance, Trade, and Income – The 1967 to 1975 Closing of the Suez Canal as a Natural Experiment

w15554 Dirk Krueger
Fabrizio Perri
Luigi Pistaferri
Giovanni L. Violante

Cross Sectional Facts for Macroeconomists

w15553 Greg Kaplan
Giovanni L. Violante

How Much Consumption Insurance Beyond Self-Insurance?

w15550 Francesco Caselli
Guy Michaels

Do Oil Windfalls Improve Living Standards? Evidence from Brazil

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

w15519 Domenico Giannone
Michele Lenza

The Feldstein-Horioka fact

w15514 Eric M. Leeper
Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle

w15513 Mikhail Golosov
Guido Lorenzoni
Aleh Tsyvinski

Decentralized Trading with Private Information

w15512 Moritz Schularick
Alan M. Taylor

Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870–2008

w15509 Wolfgang Keller
Stephen R. Yeaple

The Gravity of Knowledge

w15502 William N. Goetzmann
Luc Renneboog
Christophe Spaenjers

Art and Money

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

w15490 Eric J. Bartelsman
John C. Haltiwanger
Stefano Scarpetta

Cross-Country Differences in Productivity: The Role of Allocation and Selection

w15487 Dimitri Vayanos
Jean-Luc Vila

A Preferred-Habitat Model of the Term Structure of Interest Rates

w15483 Jonathan Heathcote
Fabrizio Perri
Giovanni L. Violante

Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006

w15479 Ricardo J. Caballero
Alp Simsek

Fire Sales in a Model of Complexity

w15477 Alejandrina Salcedo
Todd Schoellman
Michèle Tertilt

Families as Roommates: Changes in U.S. Household Size from 1850 to 2000

w15474 James Feyrer
The US Productivity Slowdown, the Baby Boom, and Management Quality

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

w15464 Valerie A. Ramey
Identifying Government Spending Shocks: It's All in the Timing

w15462 Todd M. Sinai
Nicholas S. Souleles

Can Owning a Home Hedge the Risk of Moving?

w15459 John H. Cochrane
Can Learnability Save New-Keynesian Models?

w15457 Nicolae Gârleanu
Leonid Kogan
Stavros Panageas

The Demographics of Innovation and Asset Returns

w15455 Simon Johnson
William Larson
Chris Papageorgiou
Arvind Subramanian

Is Newer Better? Penn World Table Revisions and Their Impact on Growth Estimates

w15451 Daron Acemoglu
Philippe Aghion
Leonardo Bursztyn
David Hemous

The Environment and Directed Technical Change

w15450 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Rational Attention Allocation Over the Business Cycle

w15448 Laura Alfaro
Anusha Chari

India Transformed? Insights from the Firm Level 1988-2005

w15442 Wolfgang Keller
International Trade, Foreign Direct Investment, and Technology Spillovers

w15433 Maxim Pinkovskiy
Xavier Sala-i-Martin

Parametric Estimations of the World Distribution of Income

w15432 Enrique G. Mendoza
Vincenzo Quadrini

Financial Globalization, Financial Crises and Contagion

w15428 Diego A. Comin
Norman Loayza
Farooq Pasha
Luis Serven

Medium Term Business Cycles in Developing Countries

w15427 Peter Howitt
Ömer Özak

Adaptive Consumption Behavior

w15421 Claudia R. Sahm
Matthew D. Shapiro
Joel B. Slemrod

Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications

w15416 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Two Perspectives on Preferences and Structural Transformation

w15414 Ricardo Lagos
Guillaume Rocheteau
Pierre-Olivier Weill

Crises and Liquidity in Over-the-Counter Markets

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

w15407 Alan J. Auerbach
William G. Gale

Activist Fiscal Policy to Stabilize Economic Activity

w15405 Stavros Panageas
Optimal taxation in the presence of bailouts

w15404 Ravi Jagannathan
Mudit Kapoor
Ernst Schaumburg

Causes of the Great Recession of 2007-9: The Financial Crisis is the Symptom not the Disease!

w15400 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Power Fluctuations and Political Economy

w15399 François Gourio
Disasters Risk and Business Cycles

w15394 Lawrence Christiano
Martin Eichenbaum
Sergio Rebelo

When is the government spending multiplier large?

w15385 Lars E.O. Svensson
Evaluating Monetary Policy

w15382 Yi-Li Chien
Harold L. Cole
Hanno Lustig

Is the Volatility of the Market Price of Risk due to Intermittent Portfolio Re-balancing?

w15377 Edward L. Glaeser
William R. Kerr
Giacomo A.M. Ponzetto

Clusters of Entrepreneurship

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

w15373 Robert S. Pindyck
Neng Wang

The Economic and Policy Consequences of Catastrophes

w15369 Robert J. Barro
Charles J. Redlick

Macroeconomic Effects from Government Purchases and Taxes

w15368 Adi Brender
Allan Drazen

Do Leaders Affect Government Spending Priorities?

w15362 Amir E. Khandani
Andrew W. Lo
Robert C. Merton

Systemic Risk and the Refinancing Ratchet Effect

w15359 Emi Nakamura
Jón Steinsson

Lost in Transit: Product Replacement Bias and Pricing to Market

w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth

w15355 Raquel Fernández
Women's Rights and Development

w15351 Robert J. Gordon
Misperceptions About the Magnitude and Timing of Changes in American Income Inequality

w15349 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Development

w15348 John C. Haltiwanger
Ron S. Jarmin
C. J. Krizan

Mom-and-Pop Meet Big-Box: Complements or Substitutes?

w15343 Mathias Trabandt
Harald Uhlig

How Far Are We From The Slippery Slope? The Laffer Curve Revisited

w15340 Nicolae B. Gârleanu
Stavros Panageas
Jianfeng Yu

Technological Growth and Asset Pricing

w15338 Urban Jermann
Vincenzo Quadrini

Macroeconomic Effects of Financial Shocks

w15334 William N. Goetzmann
Liang Peng
Jacqueline Yen

The Subprime Crisis and House Price Appreciation

w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts

w15319 Diego A. Comin
Bart Hobijn

The CHAT Dataset

w15312 Robert B. Barsky
Eric R. Sims

News Shocks

w15302 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Political Economy of Ramsey Taxation

w15299 Shawn Kantor
Alexander Whalley

Do Universities Generate Agglomeration Spillovers? Evidence from Endowment Value Shocks

w15296 Kenneth Judd
Lilia Maliar
Serguei Maliar

Numerically Stable Stochastic Simulation Approaches for Solving Dynamic Economic Models

w15290 Martin S. Feldstein
Economic Conditions and U.S. National Security in the 1930s and Today

w15258 Lee E. Ohanian
What - or Who - Started the Great Depression?

w15287 Alan S. Blinder
Alan B. Krueger

Alternative Measures of Offshorability: A Survey Approach

w15286 Xavier Gabaix
The Granular Origins of Aggregate Fluctuations

w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis

w15282 Per Krusell
Toshihiko Mukoyama
Aysegul Sahin

Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations

w15281 Casey B. Mulligan
Means-Tested Mortgage Modification: Homes Saved or Income Destroyed?

w15275 Asli Demirguc-Kunt
Ross Levine

Finance and Inequality: Theory and Evidence

w15273 Gary B. Gorton
Andrew Metrick

Haircuts

w15269 Eric M. Leeper
Anchoring Fiscal Expectations

w15268 Francisco J. Buera
Yongseok Shin

Productivity Growth and Capital Flows: The Dynamics of Reforms

w15257 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Consumption and Labor Supply with Partial Insurance: An Analytical Framework

w15255 Emi Nakamura
Dawit Zerom

Accounting for Incomplete Pass-Through

w15252 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Labor Market Outcomes: The Role of Choice and Chance

w15251 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

A Three State Model of Worker Flows in General Equilibrium

w15247 Robert J. Barro
Tao Jin

On the Size Distribution of Macroeconomic Disasters

w15243 Fatih Guvenen
A Parsimonious Macroeconomic Model for Asset Pricing

w15240 David Backus
Mikhail Chernov
Ian Martin

Disasters implied by equity index options

w15234 Bennett T. McCallum
Causality, Structure, and the Uniqueness of Rational Expectations Equilibria

w15230 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Political Selection and Persistence of Bad Governments

w15227 Yosef Bonaparte
Russell Cooper

Costly Portfolio Adjustment

w15225 Craig Burnside
Alexandra Tabova

Risk, Volatility, and the Global Cross-Section of Growth Rates

w15223 Gary B. Gorton
Andrew Metrick

Securitized Banking and the Run on Repo

w15219 Long Chen
Lu Zhang

The stock market and aggregate employment

w15208 David H. Romer
A New Data Set on Monetary Policy: The Economic Forecasts of Individual Members of the FOMC

w15204 Anusha Chari
Peter Blair Henry
Diego Sasson

Capital Market Integration and Wages

w15199 J. Vernon Henderson
Adam Storeygard
David N. Weil

Measuring Economic Growth from Outer Space

w15194 Mark Aguiar
Manuel Amador

Growth in the Shadow of Expropriation

w15193 Cristina Arellano
Yan Bai
Jing Zhang

Firm Dynamics and Financial Development

w15192 Gian Luca Clementi
Thomas F. Cooley
Sonia Di Giannatale

A Theory of Firm Decline

w15187 Yuriy Gorodnichenko
Serena Ng

Estimation of DSGE Models When the Data are Persistent

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

w15176 Russell Cooper
Hubert Kempf
Dan Peled

Insulation Impossible: Fiscal Spillovers in a Monetary Union

w15170 John Geanakoplos
Stephen P. Zeldes

Market Valuation of Accrued Social Security Benefits

w15167 Philippe Aghion
Drew Fudenberg
Richard T. Holden

Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem

w15166 Mark Bils
Yongsung Chang
Sun-Bin Kim

Heterogeneity and Cyclical Unemployment

w15165 John B. Donaldson
Natalia Gershun
Marc P. Giannoni

Some Unpleasant General Equilibrium Implications of Executive Incentive Compensation Contracts

w15160 Eric M. Leeper
Michael Plante
Nora Traum

Dynamics of Fiscal Financing in the United States

w15159 Manuel Adelino
Kristopher Gerardi
Paul S. Willen

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization

w15158 Nuno Cassola
Ali Hortacsu
Jakub Kastl

The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds

w15087 Orazio Attanasio
Katja Kaufmann

Educational Choices, Subjective Expectations, and Credit Constraints

w15155 Daron Acemoglu
Melissa Dell

Productivity Differences Between and Within Countries

w15153 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Government Investment and Fiscal Stimulus in the Short and Long Runs

w15138 Emmanuel Farhi
Jean Tirole

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

w15133 Troy Davig
Eric M. Leeper

Monetary-Fiscal Policy Interactions and Fiscal Stimulus

w15129 Nicholas Bloom
Raffaella Sadun
John Van Reenen

The organization of firms across countries

w15119 Philippe Aghion
David Hemous
Enisse Kharroubi

Credit Constraints, Cyclical Fiscal Policy and Industry Growth

w15117 Michael W. L. Elsby
Matthew D. Shapiro

Stepping Off the Wage Escalator: The Effects of Wage Growth on Equilibrium Employment

w15113 James Feyrer
Jay C. Shambaugh

Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks

w15111 Roozbeh Hosseini
Larry E. Jones
Ali Shourideh

Risk Sharing, Inequality and Fertility

w15110 Paul Beaudry
Amartya Lahiri

Risk Allocation, Debt Fueled Expansion and Financial Crisis

w15094 Charles I. Jones
Paul M. Romer

The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital

w15080 Yuriy Gorodnichenko
Klara Sabirianova Peter
Dmitriy Stolyarov

Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income

w15075 Charles Calomiris
Stanley D. Longhofer
William Miles

The (Mythical?) Housing Wealth Effect

w15072 Harald Uhlig
A Model of a Systemic Bank Run

w15068 Frank R. Lichtenberg
The Quality of Medical Care, Behavioral Risk Factors, and Longevity Growth

w15066 Eric A. Hanushek
Ludger Woessmann

Schooling, Cognitive Skills, and the Latin American Growth Puzzle

w15065 William A. Brock
Steven N. Durlauf

Adoption Curves and Social Interactions

w15063 Christopher Foote
Kristopher Gerardi
Lorenz Goette
Paul Willen

Reducing Foreclosures: No Easy Answers

w15050 Matthias Doepke
Fabrizio Zilibotti

Do International Labor Standards Contribute to the Persistence of the Child Labor Problem?

w15062 Emmanuel Farhi
Samuel Paul Fraiberger
Xavier Gabaix
Romain Ranciere
Adrien Verdelhan

Crash Risk in Currency Markets

w15059 Nicola Fuchs-Schündeln
Dirk Krueger
Mathias Sommer

Inequality Trends for Germany in the Last Two Decades: A Tale of Two Countries

w15052 Robert B. Barsky
The Japanese Bubble: A 'Heterogeneous' Approach

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

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

w15030 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage and Unemployment

w15029 Diego A. Comin
Mark Gertler
Ana Maria Santacreu

Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations

w15026 Dario Caldara
Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez
Wen Yao

Computing DSGE Models with Recursive Preferences

w15025 Roger Farmer
Carine Nourry
Alain Venditti

Debt, Deficits and Finite Horizons: The Stochastic Case

w15021 Roger E. A. Farmer
Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative

w15015 Olivier J. Blanchard
Jean-Paul L'Huillier
Guido Lorenzoni

News, Noise, and Fluctuations: An Empirical Exploration

w15011 Bulent Guler
Fatih Guvenen
Giovanni L. Violante

Joint-Search Theory: New Opportunities and New Frictions

w15010 Andrew B. Abel
Janice C. Eberly
Stavros Panageas

Optimal Inattention to the Stock Market with Information Costs and Transactions Costs

w15003 George-Marios Angeletos
Jennifer La'O

Incomplete Information, Higher-Order Beliefs and Price Inertia

w15002 James D. Hamilton
Causes and Consequences of the Oil Shock of 2007-08

w14997 Ricardo J. Caballero
Alp Simsek

Complexity and Financial Panics

w14996 Harald Uhlig
Monetary policy in Europe vs the US: what explains the difference?

w14982 George-Marios Angeletos
Jennifer La'O

Noisy Business Cycles

w14969 Betsey Stevenson
Justin Wolfers

The Paradox of Declining Female Happiness

w14960 Boyan Jovanovic
Peter L. Rousseau

Extensive and Intensive Investment over the Business Cycle

w14950 Paul Beaudry
Bernd Lucke

Letting Different Views about Business Cycles Compete

w14943 Andrei Shleifer
Robert W. Vishny

Unstable Banking

w14938 Gita Gopinath
Pierre-Olivier Gourinchas
Chang-Tai Hsieh
Nicholas Li

Estimating the Border Effect: Some New Evidence

w14935 Marcela Eslava
John C. Haltiwanger
Adriana D. Kugler
Maurice Kugler

Trade Reforms and Market Selection: Evidence from Manufacturing Plants in Colombia

w14933 Julio J. Rotemberg
Altruistic Dynamic Pricing with Customer Regret

w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization

w14925 Douglas W. Diamond
Raghuram G. Rajan

Fear of Fire Sales and the Credit Freeze

w14923 Chang-Tai Hsieh
Edward Miguel
Daniel Ortega
Francisco Rodriguez

The Price of Political Opposition: Evidence from Venezuela's Maisanta

w14919 Troy Davig
Eric M. Leeper

Reply to "Generalizing the Taylor Principle: A Comment"

w14915 Veronica Guerrieri
Robert Shimer
Randall Wright

Adverse Selection in Competitive Search Equilibrium

w14914 Francisco J. Buera
Joseph Kaboski
Yongseok Shin

Finance and Development: A Tale of Two Sectors

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

w14902 Stefan Laséen
Lars E.O. Svensson

Anticipated Alternative Instrument-Rate Paths in Policy Simulations

w14901 Hamish Low
Costas Meghir
Luigi Pistaferri

Wage Risk and Employment Risk over the Life Cycle

w14898 Veronica Guerrieri
Péter Kondor

Fund Managers, Career Concerns, and Asset Price Volatility

w14887 Sebnem Kalemli-Ozcan
Elias Papaioannou
José Luis Peydró

Financial Regulation, Financial Globalization and the Synchronization of Economic Activity

w14883 Andrew Atkeson
V. V. Chari
Patrick Kehoe

Sophisticated Monetary Policies

w14882 Hyungsik Roger Moon
Frank Schorfheide

Bayesian and Frequentist Inference in Partially Identified Models

w14875 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez
Martín Uribe

Risk Matters: The Real Effects of Volatility Shocks

w14874 Yuriy Gorodnichenko
Enrique G. Mendoza
Linda L. Tesar

The Finnish Great Depression: From Russia with Love

w14873 Stefania Albanesi
Claudia Olivetti

Gender Roles and Medical Progress

w14872 Frank Schorfheide
Keith Sill
Maxym Kryshko

DSGE Model-Based Forecasting of Non-modelled Variables

w14870 S. Boragan Aruoba
Frank Schorfheide

Sticky Prices Versus Monetary Frictions: An Estimation of Policy Trade-offs

w14862 Marvin Goodfriend
Robert G. King

The Great Inflation Drift

w14850 Kaivan Munshi
Mark Rosenzweig

Why is Mobility in India so Low? Social Insurance, Inequality, and Growth

w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk

w14846 Roger E.A. Farmer
Confidence, Crashes and Animal Spirits

w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management

w14833 Francesc Ortega
Giovanni Peri

The Causes and Effects of International Migrations: Evidence from OECD Countries 1980-2005

w14824 Pierpaolo Benigno
New-Keynesian Economics: An AS-AD View

w14822 Francisco J. Buera
Joseph P. Kaboski

The Rise of the Service Economy

w14819 Fiona Murray
Philippe Aghion
Mathias Dewatripont
Julian Kolev
Scott Stern

Of Mice and Academics: Examining the Effect of Openness on Innovation

w14818 Laurence M. Ball
Hysteresis in Unemployment: Old and New Evidence

w14816 Maurice Obstfeld
Time of Troubles: The Yen and Japan's Economy, 1985-2008

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

w14772 Lars Ljungqvist
Harald Uhlig

Optimal Endowment Destruction under Campbell-Cochrane Habit Formation

w14770 Jess Benhabib
A Note on Regime Switching, Monetary Policy, and Multiple Equilibria

w14768 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Quantitative Macroeconomics with Heterogeneous Households

w14764 Roland Bénabou
Groupthink: Collective Delusions in Organizations and Markets

w14760 Robert J. Barro
José F. Ursúa

Stock-Market Crashes and Depressions

w14754 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Risk Preferences in the PSID: Individual Imputations and Family Covariation

w14753 Matthew D. Shapiro
Joel B. Slemrod

Did the 2008 Tax Rebates Stimulate Spending?

w14744 Daron Acemoglu
Amy Finkelstein
Matthew J. Notowidigdo

Income and Health Spending: Evidence from Oil Price Shocks

w14743 Joseph G. Altonji
Anthony Smith
Ivan Vidangos

Modeling Earnings Dynamics

w14740 Giuseppe Moscarini
Fabien Postel-Vinay

Large Employers Are More Cyclically Sensitive

w14732 Ricardo Reis
A Sticky-Information General-Equilibrium Model for Policy Analysis

w14730 Jess Benhabib
Alberto Bisin

The distribution of wealth and fiscal policy in economies with finitely lived agents

w14729 Casey Mulligan
What Caused the Recession of 2008? Hints from Labor Productivity

w14710 Roger E.A. Farmer
Tao Zha
Daniel F. Waggoner

Understanding Markov-Switching Rational Expectations Models

w14691 Maurice Obstfeld
International Finance and Growth in Developing Countries: What Have We Learned?

w14697 Nir Jaimovich
Seth Pruitt
Henry E. Siu

The Demand for Youth: Implications for the Hours Volatility Puzzle

w14690 Angus S. Deaton
Instruments of development: Randomization in the tropics, and the search for the elusive keys to economic development

w14688 Ricardo J. Caballero
Arvind Krishnamurthy

Global Imbalances and Financial Fragility

w14684 Martin S. Feldstein
Rethinking the Role of Fiscal Policy

w14680 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

Temperature and Income: Reconciling New Cross-Sectional and Panel Estimates

w14678 Frederic S. Mishkin
Is Monetary Policy Effective During Financial Crises?

w14677 Jesús Fernández-Villaverde
The Econometrics of DSGE Models

w14676 Michael Burda
Daniel S. Hamermesh

Unemployment, Market Work and Household Production

w14674 Jaap H. Abbring
Jeffrey R. Campbell

Last-In First-Out Oligopoly Dynamics

w14669 Monika Piazzesi
Martin Schneider

Momentum traders in the housing market: survey evidence and a search model

w14665 Jonathan A. Parker
Annette Vissing-Jorgensen

Who Bears Aggregate Fluctuations and How?

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?

w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation

w14630 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight and Information Flows

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

w14639 Charles Yuji Horioka
Do Bequests Increase or Decrease Wealth Inequalities?

w14638 William D. Nordhaus
The Perils of the Learning Model For Modeling Endogenous Technological Change

w14636 Indrit Hoxha
Sebnem Kalemli-Ozcan
Dietrich Vollrath

How Big are the Gains from International Financial Integration?

w14633 Eric A. Hanushek
Ludger Woessmann

Do Better Schools Lead to More Growth? Cognitive Skills, Economic Outcomes, and Causation

w14631 John B. Taylor
The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong


2008
w14629 Bernard Dumas
Andrew Lyasoff

Incomplete-Market Equilibria Solved Recursively on an Event Tree

w14621 Olivier Coibion
Yuriy Gorodnichenko

Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation

w14620 Michael Woodford
Information-Constrained State-Dependent Pricing

w14617 Michael Elsby
Bart Hobijn
Aysegul Sahin

Unemployment Dynamics in the OECD

w14612 Markus K. Brunnermeier
Deciphering the Liquidity and Credit Crunch 2007-08

w14605 Andrew Caplin
John Leahy

Trading Frictions and House Price Dynamics

w14604 Peter Blair Henry
Conrad Miller

Institutions vs. Policies: A Tale of Two Islands

w14595 Francisco J. Buera
Alexander Monge-Naranjo
Giorgio E. Primiceri

Learning the Wealth of Nations

w14586 Olivier Coibion
Yuriy Gorodnichenko

What Can Survey Forecasts Tell Us About Informational Rigidities?

w14584 Tommaso Monacelli
Roberto Perotti

Fiscal Policy, Wealth Effects, and Markups

w14581 Robert E. Hall
Equity Depletion from Government-Guaranteed Debt

w14563 Alan S. Blinder
Jeremy B. Rudd

The Supply-Shock Explanation of the Great Stagflation Revisited

w14560 Robert J. Gordon
Did Economics Cause World War II?

w14558 M. Ayhan Kose
Eswar S. Prasad
Marco E. Terrones

Does Openness to International Financial Flows Raise Productivity Growth?

w14554 Gene M. Grossman
Esteban Rossi-Hansberg

Task Trade between Similar Countries

w14553 Harald Uhlig
The Slow Decline of East Germany

w14551 Andrew Mountford
Harald Uhlig

What are the Effects of Fiscal Policy Shocks?

w14547 Alejandro Justiniano
Bruce Preston

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?

w14534 Bennett T. McCallum
Inflation Determination with Taylor Rules: Is New Keynesian Analysis Critically Flawed?

w14529 Domenico Giannone
Michele Lenza
Lucrezia Reichlin

Business Cycles in the Euro Area

w14521 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Financial Crash, Commodity Prices and Global Imbalances

w14520 Rafael La Porta
Andrei Shleifer

The Unofficial Economy and Economic Development

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

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

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

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

w14499 Angus Deaton
Alan Heston

Understanding PPPs and PPP-based national accounts

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

w14473 Markus K. Brunnermeier
Stefan Nagel
Lasse H. Pedersen

Carry Trades and Currency Crashes

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

An Arbitrage-Free Generalized Nelson-Siegel Term Structure Model

w14452 Chris Edmond
Laura Veldkamp

Income Dispersion and Counter-Cyclical Markups

w14449 Quamrul H. Ashraf
Ashley Lester
David N. Weil

When Does Improving Health Raise GDP?

w14448 Louis Putterman
David N. Weil

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

w14446 Casey Mulligan
Luke Threinen

Market Responses to the Panic of 2008

w14437 Caroline M. Betts
Timothy J. Kehoe

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

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

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

w14425 Gene M. Grossman
Esteban Rossi-Hansberg

External Economies and International Trade Redux

w14403 Raj Chetty
Emmanuel Saez

Optimal Taxation and Social Insurance with Endogenous Private Insurance

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

w14401 Takeo Hoshi
Anil K Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan

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

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

w14398 Gary B. Gorton
The Subprime Panic

w14395 Timothy J. Kehoe
Kim J. Ruhl

Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate

w14392 Patrick J. Kehoe
Virgiliu Midrigan

Temporary Price Changes and the Real Effects of Monetary Policy

w14391 Stefano Eusepi
Bruce Preston

Stabilizing Expectations under Monetary and Fiscal Policy Coordination

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

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

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

w14383 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monopoly Power and Endogenous Product Variety: Distortions and Remedies

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

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

w14292 M. Ayhan Kose
Christopher Otrok
Eswar S. Prasad

Global Business Cycles: Convergence or Decoupling?

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

Housing Externalities

w14363 William Easterly
Can the West Save Africa?

w14358 Gary B. Gorton
The Panic of 2007

w14357 William A. Brock
Steven N. Durlauf
Giacomo Rondina

Design Limits and Dynamic Policy Analysis

w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Costly Financial Intermediation in Neoclassical Growth Theory

w14349 S. Boragan Aruoba
Francis X. Diebold
Chiara Scotti

Real-Time Measurement of Business Conditions

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

Economic Factors Underlying the Unbundling of Advertising Agency Services

w14342 Dongmei Li
Lu Zhang

Costly External Finance: Implications for Capital Markets Anomalies

w14335 Kaivan Munshi
Mark Rosenzweig

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

w14329 Robert E. Hall
Alan B. Krueger

Wage Formation between Newly Hired Workers and Employers: Survey Evidence

w14323 Olivier Coibion
Yuriy Gorodnichenko

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

w14322 James H. Stock
Mark W. Watson

Phillips Curve Inflation Forecasts

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

New Keynesian Models: Not Yet Useful for Policy Analysis

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

Business Volatility, Job Destruction, and Unemployment

w14299 Xavier Gabaix
Power Laws in Economics and Finance

w14294 Charles W. Calomiris
Stanley D. Longhofer
William Miles

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

w14282 Betsey Stevenson
Justin Wolfers

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

w14269 Francis X. Diebold
Kamil Yilmaz

Macroeconomic Volatility and Stock Market Volatility, Worldwide

w14266 Larry E. Jones
Alice Schoonbroodt
Michèle Tertilt

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

w14264 Antoni Estevadeordal
Alan M. Taylor

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

w14262 Pol Antràs
Esteban Rossi-Hansberg

Organizations and Trade

w14260 Andrew Atkeson
Patrick J. Kehoe

On the Need for a New Approach to Analyzing Monetary Policy

w14259 Olivier J. Blanchard
The State of Macro

w14255 Manuel Amador
Pierre-Olivier Weill

Learning from Prices: Public Communication and Welfare

w14248 Chinhui Juhn
Sebnem Kalemli-Ozcan
Belgi Turan

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

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

w14239 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Dynamics and Stability of Constitutions, Coalitions, and Clubs

w14228 Markus K. Brunnermeier
Filippos Papakonstantinou
Jonathan A. Parker

An Economic Model of the Planning Fallacy

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

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

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

w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship

w14215 Stephanie Schmitt-Grohe
Martin Uribe

What's News in Business Cycles

w14208 Miles S. Kimball
Matthew D. Shapiro

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

w14200 Gita Gopinath
Oleg Itskhoki

Frequency of Price Adjustment and Pass-through

w14190 Jean Boivin
Marc P. Giannoni
Benoît Mojon

How Has the Euro Changed the Monetary Transmission?

w14184 Yuriy Gorodnichenko
Endogenous information, menu costs and inflation persistence

w14181 Stefano Eusepi
Bruce Preston

Expectations, Learning and Business Cycle Fluctuations

w14171 Jordi Gali
Luca Gambetti

On the Sources of the Great Moderation

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

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

w14151 James D. Hamilton
Macroeconomics and ARCH

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

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

Adjusted Estimates of Worker Flows and Job Openings in JOLTS

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

Models of Idea Flows

w14133 Robert E. Lucas
Jr.

Ideas and Growth

w14132 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

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

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

w14128 Jess Benhabib
Shenghao Zhu

Age, Luck, and Inheritance

w14122 Elhanan Helpman
Oleg Itskhoki
Stephen Redding

Wages, Unemployment and Inequality with Heterogeneous Firms and Workers

w14114 Bruce Sacerdote
James Feyrer

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

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

Financially Constrained Fluctuations in an Evolving Network Economy

w14097 Alessandra Fogli
Laura Veldkamp

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

w14093 Ryan D. Edwards
The Cost of Uncertain Life Span

w14092 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Optimal Monetary Policy in an Operational Medium-Sized DSGE Model

w14063 Nir Jaimovich
Henry E. Siu

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

w14060 Laura Alfaro
Andrew Charlton
Fabio Kanczuk

Plant-Size Distribution and Cross-Country Income Differences

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

Do Peso Problems Explain the Returns to the Carry Trade?

w14052 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

The Macroeconomic Implications of Rising Wage Inequality in the United States

w14050 Dani Rodrik
Second-Best Institutions

w14048 Steven J. Davis
James A. Kahn

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

w14047 Marco Battaglini
Stephen Coate

Fiscal Policy over the Real Business Cycle: A Positive Theory

w14028 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight: Analytics and Econometrics

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

Inflation, Monetary Policy and Stock Market Conditions

w14018 Erwin Diewert
Saeed Heravi
Mick Silver

Hedonic Imputation versus Time Dummy Hedonic Indexes

w14015 George-Marios Angeletos
Private Sunspots and Idiosyncratic Investor Sentiment

w14009 Frank R. Lichtenberg
Gautier Duflos

Pharmaceutical innovation and the longevity of Australians: a first look

w14001 Emi Nakamura
Jón Steinsson

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

w14000 Boyan Jovanovic
When Should Firms Invest in Old Capital?

w13990 Aurora Gómez Galvarriato
Jeffrey G. Williamson

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

w13986 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Unemployment Trade-Off at Low Inflation

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

w13983 Ellen R. McGrattan
Edward C. Prescott

Technology Capital and the U.S. Current Account

w13982 Robert J. Gordon
Ian Dew-Becker

Controversies about the Rise of American Inequality: A Survey

w13979 John Geanakoplos
Stephen P. Zeldes

Reforming Social Security with Progressive Personal Accounts

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

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

w13940 Robert J. Barro
José F. Ursúa

Macroeconomic Crises since 1870

w13968 Edward Miguel
Sebastián M. Saiegh
Shanker Satyanath

National Cultures and Soccer Violence

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

w13955 Emmanuel Farhi
Jean Tirole

Competing Liquidities: Corporate Securities, Real Bonds and Bubbles

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

w13950 Robert W. Dimand
Barbara J. Spencer

Trevor Swan And The Neoclassical Growth Model

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

w13943 John B. Taylor
John C. Williams

A Black Swan in the Money Market

w13931 Orazio Attanasio
Adriana Kugler
Costas Meghir

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

w13924 Aleksander Berentsen
Guido Menzio
Randall Wright

Inflation and Unemployment in the Long Run

w13920 John Haltiwanger
Stefano Scarpetta
Helena Schweiger

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

w13919 Matthias Doepke
Michèle Tertilt

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

w13915 Daron Acemoglu
Davide Ticchi
Andrea Vindigni

A Theory of Military Dictatorships

w13912 Lance J. Lochner
Alexander Monge-Naranjo

The Nature of Credit Constraints and Human Capital

w13911 Francesco Giavazzi
Michael McMahon

Policy Uncertainty and Precautionary Savings

w13907 Roland Bénabou
Ideology

w13906 Andrea Ferrero
Mark Gertler
Lars E.O. Svensson

Current Account Dynamics and Monetary Policy

w13904 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Acquisition and Under-Diversification

w13897 Olivier Blanchard
Jordi Gali

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

w13896 Hanno Lustig
Stijn Van Nieuwerburgh
Adrien Verdelhan

The Wealth-Consumption Ratio

w13894 Noah Williams
Persistent Private Information

w13893 Mark Aguiar
Erik Hurst

Deconstructing Lifecycle Expenditure

w13892 Lars E.O. Svensson
Noah Williams

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

w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity

w13876 Christopher D. Carroll
Jiri Slacalek
Martin Sommer

International Evidence on Sticky Consumption Growth

w13872 Richard Rogerson
Lodewijk P. Visschers
Randall Wright

Labor Market Fluctuations in the Small and in the Large

w13871 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Implications of Indivisible Labor, Incomplete Markets, and Labor Market Frictions

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

w13867 Melissa Bjelland
Bruce Fallick
John Haltiwanger
Erika McEntarfer

Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data

w13866 Janice Eberly
Sergio Rebelo
Nicolas Vincent

Investment and Value: A Neoclassical Benchmark

w13854 Yacine Aït-Sahalia
Michael W. Brandt

Consumption and Portfolio Choice with Option-Implied State Prices

w13840 Ian Dew-Becker
Robert J. Gordon

The Role of Labor Market Changes in the Slowdown of European Productivity Growth

w13837 Mark Aguiar
Erik Hurst

The Increase in Leisure Inequality

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

w13829 Martin Eichenbaum
Nir Jaimovich
Sergio Rebelo

Reference Prices and Nominal Rigidities

w13819 Giuseppe Moscarini
Francis G. Vella

Occupational Mobility and the Business Cycle

w13814 Charles Engel
Jian Wang

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

w13805 Emmanuel Farhi
Xavier Gabaix

Rare Disasters and Exchange Rates

w13794 Cristina Arellano
Narayana R. Kocherlakota

Internal Debt Crises and Sovereign Defaults

w13789 Erik Hurst
The Retirement of a Consumption Puzzle

w13779 Ricardo J. Caballero
Pierre Yared

Inflating the Beast: Political Incentives Under Uncertainty

w13777 Michael W. L. Elsby
Ryan Michaels

Marginal Jobs, Heterogeneous Firms, & Unemployment Flows

w13772 Fernando Alvarez
Robert Shimer

Search and Rest Unemployment

w13769 J. Vernon Henderson
Anthony Venables

The Dynamics of City Formation

w13761 Carmen M. Reinhart
Kenneth S. Rogoff

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

w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship

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

w13751 Christina D. Romer
David H. Romer

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

w13749 Timothy Cogley
Giorgio E. Primiceri
Thomas J. Sargent

Inflation-Gap Persistence in the U.S.

w13741 Marco Del Negro
Frank Schorfheide

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

w13736 Jean Boivin
Marc Giannoni

Global Forces and Monetary Policy Effectiveness

w13731 Ariel Burstein
Christopher Kurz
Linda Tesar

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

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

w13720 Emmanuel Farhi
Iván Werning

Optimal Savings Distortions with Recursive Preferences


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

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

w13707 Matthias Doepke
Moshe Hazan
Yishay Maoz

The Baby Boom and World War II: A Macroeconomic Analysis

w13705 Luis Garicano
Esteban Rossi-Hansberg

Organizing Growth

w13704 Edward L. Glaeser
Joseph Gyourko

Arbitrage in Housing Markets

w13696 Edward L. Glaeser
The Economics Approach to Cities

w13694 Sumit Agarwal
Chunlin Liu
Nicholas S. Souleles

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data

w13693 Todd Sinai
Nicholas S. Souleles

Net Worth and Housing Equity in Retirement

w13692 Todd C. Neumann
Price V. Fishback
Shawn Kantor

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

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

w13689 Robert J. Barro
Jason Hwang

Religious Conversion in 40 Countries

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

w13682 John B. Taylor
Housing and Monetary Policy

w13680 Larry E. Jones
Alice Schoonbroodt

Complements versus Substitutes and Trends in Fertility Choice in Dynastic Models

w13673 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Insurance and Opportunities: A Welfare Analysis of Labor Market Risk

w13666 Yuriy Gorodnichenko
Using Firm Optimization to Evaluate and Estimate Returns to Scale

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

w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow

w13650 Dirk Krueger
Hanno Lustig
Fabrizio Perri

Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data

w13646 Florin Bilbiie
Fabio Ghironi
Marc J. Melitz

Endogenous Entry, Product Variety, and Business Cycles

w13639 Guido Lorenzoni
Inefficient Credit Booms

w13629 Stefania Albanesi
Roc Armenter

Intertemporal Distortions in the Second best

w13619 Eswar S. Prasad
Raghuram G. Rajan
Arvind Subramanian

Foreign Capital and Economic Growth

w13615 Ricardo Reis
Mark W. Watson

Relative Goods' Prices, Pure Inflation, and the Phillips Correlation

w13614 Dora Gicheva
Justine Hastings
Sofia Villas-Boas

Revisiting the Income Effect: Gasoline Prices and Grocery Purchases

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

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

w13674 Andreas Hornstein
Per Krusell
Giovanni L. Violante

Frictional Wage Dispersion in Search Models: A Quantitative Assessment

w13603 Gary D. Hansen
Selo Imrohoroglu

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

w13592 Jeremy Greenwood
Karen A. Kopecky

Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach

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

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

w13590 George-Marios Angeletos
Alessandro Pavan

Policy with Dispersed Information

w13588 Francis X. Diebold
Canlin Li
Vivian Z. Yue

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

w13555 YiLi Chien
Harold Cole
Hanno Lustig

A Multiplier Approach to Understanding the Macro Implications of Household Finance

w13584 Thomas Philippon
Yuliy Sannikov

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

w13580 Marvin Goodfriend
How the World Achieved Consensus on Monetary Policy

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

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

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

w13550 Branko Milanovic
Peter H. Lindert
Jeffrey G. Williamson

Measuring Ancient Inequality

w13548 Christina D. Romer
David H. Romer

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

w13545 Joana Naritomi
Rodrigo R. Soares
Juliano J. Assunção

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

w13542 Jordi Galí
Mark Gertler

Macroeconomic Modeling for Monetary Policy Evaluation

w13532 Peter N. Ireland
Scott Schuh

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

w13526 Flavio Cunha
James J. Heckman

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

w13521 Lawrence Christiano
Roberto Motto
Massimo Rostagno

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

w13518 Frederic S. Mishkin
Housing and the Monetary Transmission Mechanism

w13517 Benjamin Malin
Dirk Krueger
Felix Kubler

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

w13515 Ellen McGrattan
Edward C. Prescott

Openness, Technology Capital, and Development

w13506 David G. Blanchflower
Chris Shadforth

Fear, Unemployment and Migration

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

w13502 Lawrence Christiano
Roberto Motto
Massimo Rostagno

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

w13500 Paul Beaudry
Patrick Francois

The Economics of Inefficient Technology Use

w13499 Ellen R. McGrattan
Edward C. Prescott

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

w13487 Sumit Agarwal
John C. Driscoll
David Laibson

Optimal Mortgage Refinancing: A Closed Form Solution

w13483 Jonathan Heathcote
Fabrizio Perri

The International Diversification Puzzle Is Not As Bad As You Think

w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction

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

w13455 Ariel Burstein
Christian Hellwig

Prices and Market Shares in a Menu Cost Model

w13448 Andrew Ang
Sen Dong
Monika Piazzesi

No-Arbitrage Taylor Rules

w13444 Nir Jaimovich
Sergio Rebelo

News and Business Cycles in Open Economies

w13437 Thomas Philippon
Ariell Reshef

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

w13432 Gita Gopinath
Oleg Itskhoki
Roberto Rigobon

Currency Choice and Exchange Rate Pass-through

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

w13428 Edward E. Leamer
Housing IS the Business Cycle

w13425 Hess Chung
Eric M. Leeper

What Has Financed Government Debt?

w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.

w13421 Robert Shimer
Reassessing the Ins and Outs of Unemployment

w13416 Fernando E. Alvarez
Francesco Lippi

Financial Innovation and the Transactions Demand for Cash

w13414 Lars E.O. Svensson
Noah M. Williams

Bayesian and Adaptive Optimal Policy under Model Uncertainty

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

On the Welfare Implications of Financial Globalization without Financial Development

w13410 John H. Cochrane
Determinacy and Identification with Taylor Rules

w13409 John H. Cochrane
Determinacy and Identification with Taylor Rules

w13406 Roger E. A. Farmer
Aggregate Demand and Supply

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

Factor Analysis in a Model with Rational Expectations

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

On the Optimal Choice of a Monetary Policy Instrument

w13397 Jon Faust
Jonathan H. Wright

Comparing Greenbook and Reduced Form Forecasts using a Large Realtime Dataset

w13394 Fatih Guvenen
An Empirical Investigation of Labor Income Processes

w13392 Kerwin Kofi Charles
Erik Hurst
Nikolai Roussanov

Conspicuous Consumption and Race

w13391 Alan S. Blinder
John Morgan

Leadership in Groups: A Monetary Policy Experiment

w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete

w13385 Nicholas Bloom
The Impact of Uncertainty Shocks

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

w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

w13368 Olivier J. Blanchard
Jordi Gali

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

w13366 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Immobility and the Home Bias Puzzle

w13363 Igor Livshits
James MacGee
Michèle Tertilt

Accounting for the Rise in Consumer Bankruptcies

w13362 Borys Grochulski
Narayana Kocherlakota

Nonseparable Preferences and Optimal Social Security Systems

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

Mortgage Timing

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

w13354 Andrew B. Abel
Optimal Capital Income Taxation

w13353 Mark Aguiar
Manuel Amador
Gita Gopinath

Investment Cycles and Sovereign Debt Overhang

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

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

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

Imputing Risk Tolerance from Survey Responses

w13334 Daron Acemoglu
Simon Johnson
James A. Robinson
Pierre Yared

Reevaluating the Modernization Hypothesis

w13328 Morten O. Ravn
Stephanie Schmitt-Grohé
Martín Uribe

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

w13326 Andrew Atkeson
Ariel Burstein

Innovation, firm dynamics, and international trade

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

w13319 David de la Croix
Matthias Doepke

To Segregate or to Integrate: Education Politics and Democracy

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

w13315 Simon Gilchrist
Jae W. Sim

Investment during the Korean Financial Crisis: A Structural Econometric Analysis

w13314 David Laibson
Andrea Repetto
Jeremy Tobacman

Estimating Discount Functions with Consumption Choices over the Lifecycle

w13310 Tai-wei Hu
John Kennan
Neil Wallace

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

w13307 Boyan Jovanovic
Investment Options and the Business Cycle

w13302 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Growth and Industry Age

w13299 Thorsten Beck
Ross Levine
Alexey Levkov

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

w13290 Chang-Tai Hsieh
Peter J. Klenow

Misallocation and Manufacturing TFP in China and India

w13287 Dale T. Mortensen
Island Matching

w13286 Robert E. Lucas
Jr.

Trade and the Diffusion of the Industrial Revolution

w13282 Long Chen
Lu Zhang

Neoclassical Factors

w13278 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Understanding the Forward Premium Puzzle: A Microstructure Approach

w13269 Jeffrey I. Bernstein
Theofanis P. Mamuneas

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

w13264 Christina D. Romer
David H. Romer

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

w13260 Bruce Preston
Mauro Roca

Incomplete Markets, Heterogeneity and Macroeconomic Dynamics

w13259 Stefano Eusepi
Bruce Preston

Central Bank Communication and Expectations Stabilization

w13254 Fabio Braggion
Lawrence J. Christiano
Jorge Roldos

Optimal Monetary Policy in a 'Sudden Stop'

w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing

w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets

w13241 Pol Antràs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective

w13231 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage in Cyclical Unemployment

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

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

w13224 Mark Huggett
Gustavo Ventura
Amir Yaron

Sources of Lifetime Inequality

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

Does Age Structure Forecast Economic Growth?

w13209 Kiminori Matsuyama
Aggregate Implications of Credit Market Imperfections

w13207 Marvin Goodfriend
Bennett T. McCallum

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

w13204 Veronica Guerrieri
Guido Lorenzoni

Liquidity and Trading Dynamics

w13200 Marco Bassetto
Vadym Lepetyuk

Government Investment and the European Stability and Growth Pact

w13199 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monetary Policy and Business Cycles with Endogenous Entry and Product Variety

w13198 Satyajit Chatterjee
Esteban Rossi-Hansberg

Spin-offs and the Market for Ideas

w13196 Ravi Bansal
Long-Run Risks and Financial Markets

w13191 Sumit Agarwal
John C. Driscoll
Xavier Gabaix
David Laibson

The Age of Reason: Financial Decisions Over the Lifecycle

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

w13180 Philippe Aghion
Alberto Alesina
Francesco Trebbi

Democracy, Technology, and Growth

w13179 Stefania Albanesi
Claudia Olivetti

Gender Roles and Technological Progress

w13174 Simon Gilchrist
Egon Zakrajsek

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

w13171 Randall Morck
Masao Nakamura

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

w13166 Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez

How Structural Are Structural Parameters?

w13162 Lena Edlund
Wojciech Kopczuk

Women, Wealth and Mobility

w13157 Francois Gourio
Anil K Kashyap

Investment Spikes: New Facts and a General Equilibrium Exploration

w13150 Torsten Persson
Guido Tabellini

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

w13147 Frederic S. Mishkin
Inflation Dynamics

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

w13136 George-Marios Angeletos
Vasia Panousi

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

w13134 Kenneth D. West
Ka-fu Wong
Stanislav Anatolyev

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

w13115 Russell Cooper
John Haltiwanger
Jonathan L. Willis

Implications of Search Frictions: Matching Aggregate and Establishment-level Observations

w13111 Timothy J. Kehoe
Kim J. Ruhl

Are Shocks to the Terms of Trade Shocks to Productivity?

w13108 Ravi Bansal
Robert Dittmar
Dana Kiku

Cointegration and Consumption Risks in Asset Returns

w13105 John Ameriks
Andrew Caplin
Steven Laufer
Stijn Van Nieuwerburgh

The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Bequest and Precautionary Motives

w13104 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Financing Development: The Role of Information Costs

w13102 Benjamin F. Jones
Benjamin A. Olken

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

w13099 Marco Del Negro
Frank Schorfheide

Monetary Policy Analysis with Potentially Misspecified Models

w13096 Fatih Guvenen
Burhanettin Kuruscu

Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis

w13095 Fatih Guvenen
Burhanettin Kuruscu

A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000

w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q

w13086 Ram C. Acharya
Wolfgang Keller

Technology Transfer through Imports

w13085 Nicholas Bloom
Raffaella Sadun
John Van Reenen

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

w13084 Joshua Aizenman
Mark Spiegel

Takeoffs

w13077 Ricardo J. Caballero
Guido Lorenzoni

Persistent Appreciations and Overshooting: A Normative Analysis

w13076 Fernando A. Broner
Guido Lorenzoni
Sergio L. Schmukler

Why Do Emerging Economies Borrow Short Term?

w13073 Ariel Burstein
Alexander Monge-Naranjo

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

w13067 William Adams
Liran Einav
Jonathan Levin

Liquidity Constraints and Imperfect Information in Subprime Lending

w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital

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

Globalization, Growth and Distribution in Spain 1500-1913

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

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

w13041 Christian Broda
David E. Weinstein

Product Creation and Destruction: Evidence and Price Implications

w13030 Bjoern Bruegemann
Giuseppe Moscarini

Rent Rigidity, Asymmetric Information, and Volatility Bounds in Labor Markets

w13024 Laura X. L. Liu
Toni Whited
Lu Zhang

Regularities

w13018 Diego Restuccia
Richard Rogerson

Policy Distortions and Aggregate Productivity with Heterogeneous Plants

w13017 Richard Rogerson
Johanna Wallenius

Micro and Macro Elasticities in a Life Cycle Model With Taxes

w13007 Lei Fang
Richard Rogerson

Policy Analysis in a Matching Model with Intensive and Extensive Margins

w13000 Michael Burda
Daniel S. Hamermesh
Philippe Weil

Total Work, Gender and Social Norms

w12999 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth

t0336 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth

w12994 Orazio Attanasio
Nicola Pavoni

Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption

w12986 Joao F. Gomes
Leonid Kogan
Motohiro Yogo

Durability of Output and Expected Stock Returns

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

Understanding the New-Keynesian Model when Monetary Policy Switches Regimes

w12961 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Incomplete Cost Pass-Through Under Deep Habits

w12959 Emmanuel Farhi
Mikhail Golosov
Aleh Tsyvinski

A Theory of Liquidity and Regulation of Financial Intermediation

w12957 Monika Piazzesi
Martin Schneider

Inflation Illusion, Credit, and Asset Pricing

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

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

Price Stickiness in Ss Models: New Interpretations of Old Results

w12940 Markus K. Brunnermeier
Christian Gollier
Jonathan A. Parker

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

w12925 Olivier Blanchard
Current Account Deficits in Rich Countries

w12917 Matthias Doepke
Fabrizio Zilibotti

Occupational Choice and the Spirit of Capitalism

w12916 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

The Returns to Currency Speculation in Emerging Markets

w12911 Abhijit Banerjee
Lakshmi Iyer
Rohini Somanathan

Public Action for Public Goods

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

Financial Integration, Financial Deepness and Global Imbalances

w12898 Guido Lorenzoni
News Shocks and Optimal Monetary Policy

w12896 Ricardo J. Caballero
Arvind Krishnamurthy

Collective Risk Management in a Flight to Quality Episode

w12891 Lei Fang
Richard Rogerson

Product Market Regulation and Market Work: A Benchmark Analysis

w12890 Richard Rogerson
Taxation and Market Work: Is Scandinavia an Outlier?

w12889 Richard Rogerson
Structural Transformation and the Deterioration of European Labor Market Outcomes

w12888 Raquel Fernandez
Women, Work, and Culture

w12886 Diego Comin
Bart Hobijn

Implementing Technology

w12881 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Demand for Treasury Debt

w12880 Juan Carlos Conesa
Sagiri Kitao
Dirk Krueger

Taxing Capital? Not a Bad Idea After All!

w12876 Frederic S. Mishkin
Klaus Schmidt-Hebbel

Does Inflation Targeting Make a Difference?

w12861 Andrew Atkeson
Ariel Burstein

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

w12854 Elizabeth M. Caucutt
Thomas F. Cooley
Nezih Guner

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

w12853 Michael W. Elsby
Ryan Michaels
Gary Solon

The Ins and Outs of Cyclical Unemployment

w12845 Aubhik Khan
Julia Thomas

Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics

w12841 Nicholas Bloom
Uncertainty and the Dynamics of R&D

w12833 Francesco Caselli
Nicola Gennaioli

Economics and Politics of Alternative Institutional Reforms

w12832 Eric A. Hanushek
Ludger Woessmann

The Role of School Improvement in Economic Development

w12824 Jean Boivin
Marc Giannoni
Ilian Mihov

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

w12822 Carlo Favero
Francesco Giavazzi

Debt and the Effects of Fiscal Policy


2006
w12810 Markus K. Brunnermeier
Christian Julliard

Money Illusion and Housing Frenzies

w12809 Markus K. Brunnermeier
Stefan Nagel

Do Wealth Fluctuations Generate Time-varying Risk Aversion? Micro-Evidence on Individuals' Asset Allocation

w12806 Romain Ranciere
Aaron Tornell
Frank Westermann

Decomposing the Effects of Financial Liberalization: Crises vs. Growth

w12804 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Price and Capacity Competition

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

w12797 Laurent E. Calvet
Adlai J. Fisher

Multifrequency Jump-Diffusions: An Equilibrium Approach

w12791 Fernando Alvarez
Marcelo Veracierto

Fixed-Term Employment Contracts in an Equilibrium Search Model

w12772 Jean Boivin
Marc Giannoni

DSGE Models in a Data-Rich Environment

t0332 Jean Boivin
Marc Giannoni

DSGE Models in a Data-Rich Environment

w12786 Lee Ohanian
Andrea Raffo
Richard Rogerson

Long-Term Changes in Labor Supply and Taxes: Evidence from OECD Countries, 1956-2004

w12778 George-Marios Angeletos
Alessandro Pavan

Socially Optimal Coordination: Characterization and Policy Implications

w12775 Daron Acemoglu
Ufuk Akcigit

State-Dependent Intellectual Property Rights Policy

w12769 Michele Boldrin
David K. Levine

Growth and Intellectual Property

w12768 Steven J. Davis
Magnus Henrekson

Economic Performance and Work Activity in Sweden after the Crisis of the Early 1990s

w12763 Robert J. Barro
On the Welfare Costs of Consumption Uncertainty

w12755 Chong-En Bai
Chang-Tai Hsieh
Yingyi Qian

The Return to Capital in China

w12753 Ricardo J. Caballero
On the Macroeconomics of Asset Shortages

w12751 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Party Influence in Congress and the Economy

w12748 Daron Acemoglu
Davide Ticchi
Andrea Vindigni

Emergence and Persistence of Inefficient States

w12746 Christopher D. Carroll
Misuzu Otsuka
Jirka Slacalek

How Large Is the Housing Wealth Effect? A New Approach

w12741 William D. Nordhaus
The "Stern Review" on the Economics of Climate Change

w12740 Stephanie Schmitt-Grohe
Martin Uribe

Comparing Two Variants of Calvo-Type Wage Stickiness

w12735 Angus Deaton
Global Patterns of Income and Health: Facts, Interpretations, and Policies

w12731 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Pricing to Habits and the Law of One Price

w12723 Charles Yuji Horioka
Junmin Wan

The Determinants of Household Saving in China: A Dynamic Panel Analysis of Provincial Data

w12721 Gene M. Grossman
Esteban Rossi-Hansberg

Trading Tasks: A Simple Theory of Offshoring

w12710 Paul Beaudry
Fabrice Collard
Franck Portier

Gold Rush Fever in Business Cycles

w12708 Alessandra Fogli
Fabrizio Perri

The "Great Moderation" and the US External Imbalance

w12698 Peter Blair Henry
Capital Account Liberalization: Theory, Evidence, and Speculation

w12687 Laurence M. Ball
Has Globalization Changed Inflation?

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

w12666 Hugh Rockoff
On the Origins of "A Monetary History"

w12665 Matthias Doepke
Dirk Krueger

Origins and Consequences of Child Labor Restrictions: A Macroeconomic Perspective

w12657 Diego Comin
William Easterly
Erick Gong

Was the Wealth of Nations Determined in 1000 B.C.?

w12656 Timothy J. Kehoe
David K. Levine

Bankruptcy and Collateral in Debt Constrained Markets

w12652 Eliot A. Jamison
Dean T. Jamison
Eric A. Hanushek

The Effects of Education Quality on Income Growth and Mortality Decline

w12648 Daron Acemoglu
Victor Chernozhukov
Muhamet Yildiz

Learning and Disagreement in an Uncertain World

w12647 Lawrence J. Christiano
Joshua M. Davis

Two Flaws In Business Cycle Accounting

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

w12634 Dirk Krueger
Hanno Lustig

When is Market Incompleteness Irrelevant for the Price of Aggregate Risk (and when is it not)?

w12629 Javier García-Cicco
Roberto Pancrazi
Martín Uribe

Real Business Cycles in Emerging Countries?

w12621 David E. Bloom
David Canning
Rick Mansfield
Michael Moore

Demographic Change, Social Security Systems, and Savings

w12618 Robert Shimer
Ivan Werning

Reservation Wages and Unemployment Insurance

w12614 Christian Hellwig
Guido Lorenzoni

Bubbles and Self-Enforcing Debt

w12611 Michael W. Elsby
Evaluating the Economic Significance of Downward Nominal Wage Rigidity

w12610 Robert H. Bates
John H. Coatsworth
Jeffrey G. Williamson

Lost Decades: Lessons from Post-Independence Latin America for Today's Africa

w12609 Monika Piazzesi
Martin Schneider

Equilibrium Yield Curves

w12606 Thomas Sargent
Noah Williams
Tao Zha

The Conquest of South American Inflation

w12605 N. Gregory Mankiw
Ricardo Reis

Sticky Information in General Equilibrium

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

w12584 Roger E. A. Farmer
Andrew Hollenhorst

Shooting the Auctioneer

w12581 Alberto Alesina
Joseph Zeira

Technology and Labor Regulations

w12575 Patrick J. Kehoe
How to Advance Theory with Structural VARs: Use the Sims-Cogley-Nason Approach

w12570 Nir Jaimovich
Sergio Rebelo

Behavioral Theories of the Business Cycle

w12569 David Joulfaian
Inheritance and Saving

w12567 Claustre Bajona
Timothy J. Kehoe

Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model

w12566 Claustre Bajona
Timothy J. Kehoe

Demographics in Dynamic Heckscher-Ohlin Models: Overlapping Generations Versus Infinitely Lived Consumers

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

w12557 Laura Veldkamp
Justin Wolfers

Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement

w12555 Dmitry Livdan
Horacio Sapriza
Lu Zhang

Financially Constrained Stock Returns

w12549 Jeffrey G. Williamson
Poverty Traps, Distance, and Diversity: The Migration Connection

w12546 James Feyrer
Bruce Sacerdote

Colonialism and Modern Income -- Islands as Natural Experiments

w12540 Roger E. A. Farmer
Daniel F. Waggoner
Tao Zha

Indeterminacy in a Forward Looking Regime Switching Model

w12539 Frank R. Lichtenberg
Importation and Innovation

w12538 Stijn Van Nieuwerburgh
Pierre-Olivier Weill

Why Has House Price Dispersion Gone Up?

w12537 Nir Jaimovich
Sergio Rebelo

Can News About the Future Drive the Business Cycle?

w12526 E. Han Kim
Adair Morse
Luigi Zingales

What Has Mattered to Economics Since 1970

w12521 Paul Beaudry
Mark Doms
Ethan Lewis

Endogenous Skill Bias in Technology Adoption: City-Level Evidence from the IT Revolution

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

w12498 Mark Gertler
Antonella Trigari

Unemployment Fluctuations With Staggered Nash Wage Bargaining

w12489 Craig Burnside
Martin Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

The Returns to Currency Speculation

w12486 Laarni Bulan
Christopher J. Mayer
C. Tsuriel Somerville

Irreversible Investment, Real Options, and Competition: Evidence from Real Estate Development

w12477 Guido Lorenzoni
A Theory of Demand Shocks

w12476 Patrick Kehoe
Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy

w12475 Daron Acemoglu
Veronica Guerrieri

Capital Deepening and Non-Balanced Economic Growth

w12474 Ramon Marimon
Vincenzo Quadrini

Competition, Innovation and Growth with Limited Commitment

w12467 Raj Chetty
Adam Szeidl

Consumption Commitments and Risk Preferences

w12462 Thomas Philippon
The Bond Market's q

w12456 Orazio Attanasio
Margherita Borella

Stochastic Components of Individual Consumption: A Time Series Analysis of Grouped Data

w12453 Dirk Krueger
Alexander Ludwig

On the Consequences of Demographic Change for Rates of Returns to Capital, and the Distribution of Wealth and Welfare

w12441 Bennett T. McCallum
E-Stability vis-a-vis Determinacy Results for a Broad Class of Linear Rational Expectations Models

w12435 Fredrik Andersson
Matthew Freedman
John C. Haltiwanger
Julia Lane
Kathryn L. Shaw

Reaching for the Stars: Who Pays for Talent in Innovative Industries?

w12434 Rajnish Mehra
The Equity Premium in India

w12433 Rajnish Mehra
Recursive Competitive Equilibrium

t0326 Kenneth D. West
Todd Clark

Approximately Normal Tests for Equal Predictive Accuracy in Nested Models

w12421 Morten O. Ravn
The Consumption-Tightness Puzzle

w12419 Stefania Albanesi
Optimal Taxation of Entrepreneurial Capital with Private Information

w12415 Julio J. Rotemberg
Cyclical Wages in a Search-and-Bargaining Model with Large Firms

w12412 Orazio P. Attanasio
Monica Paiella

Intertemporal Consumption Choices, Transaction Costs and Limited Participation to Financial Markets: Reconciling Data and Theory

w12405 Troy Davig
Eric M. Leeper

Endogenous Monetary Policy Regime Change

w12402 Stephanie Schmitt-Grohé
Martín Uribe

Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version

w12400 Alisdair McKay
Ricardo Reis

The Brevity and Violence of Contractions and Expansions

w12398 N. Gregory Mankiw
Phillip Swagel

The Politics and Economics of Offshore Outsourcing

w12395 Takatoshi Ito
Kiyotaka Sato

Exchange Rate Changes and Inflation in Post-Crisis Asian Economies: VAR Analysis of the Exchange Rate Pass-Through

w12394 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Economic Growth: Is What's Good for General Motors Good for America?

w12388 Kerwin Kofi Charles
Melvin Stephens
Jr.

The Level and Composition of Consumption Over the Business Cycle: The Role of "Quasi-Fixed" Expenditures

w12384 Frederic S. Mishkin
Niklas J. Westelius

Inflation Band Targeting and Optimal Inflation Contracts

w12383 Nick Bloom
John Van Reenen
Stephen Bond

Uncertainty and Investment Dynamics

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

w12354 Steven J. Davis
John Haltiwanger
Ron Jarmin
Javier Miranda

Volatility and Dispersion in Business Growth Rates: Publicly Traded versus Privately Held Firms

w12353 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

Assessing Structural VARs

w12351 Charles Yuji Horioka
The Dissaving of the Aged Revisited: The Case of Japan

w12349 N. Gregory Mankiw
The Macroeconomist as Scientist and Engineer

w12341 Gary D. Hansen
Selahattin Imrohoroglu

Consumption Over the Life Cycle: The Role of Annuities

w12336 Ruediger Bachmann
Ricardo J. Caballero
Eduardo M.R.A. Engel

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

w12331 Janna L. Matlack
Jacob L. Vigdor

Do Rising Tides Lift All Prices? Income Inequality and Housing Affordability

w12330 Miki Kohara
Charles Yuji Horioka

Do Borrowing Constraints Matter? An Analysis of Why the Permanent Income Hypothesis Does Not Apply in Japan

w12324 James H. Stock
Mark W. Watson

Why Has U.S. Inflation Become Harder to Forecast?

w12319 Matthias Doepke
Martin Schneider

Inflation as a Redistribution Shock: Effects on Aggregates and Welfare

w12314 Diego Comin
Bart Hobiijn

An Exploration of Technology Diffusion

w12311 Robert J. Gordon
The Boskin Commission Report: A Retrospective One Decade Later

w12309 Paul Willen
Felix Kubler

Collateralized Borrowing and Life-Cycle Portfolio Choice

w12308 Urban Jermann
Vincenzo Quadrini

Financial Innovations and Macroeconomic Volatility

w12290 Andrew B. Abel
Equity Premia with Benchmark Levels of Consumption: Closed-Form Results

w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption

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

w12243 Giorgio E. Primiceri
Ernst Schaumburg
Andrea Tambalotti

Intertemporal Disturbances

w12231 Chad Syverson
Prices, Spatial Competition, and Heterogenous Producers: An Empirical Test

w12230 Robert Shimer
Iván Werning

On the Optimal Timing of Benefits with Heterogeneous Workers and Human Capital Depreciation

w12224 Daron Acemoglu
Michael Golosov
Aleh Tsyvinski

Markets Versus Governments: Political Economy of Mechanisms

w12218 William D. Nordhaus
Baumol's Diseases: A Macroeconomic Perspective

w12212 Stefania Albanesi
Claudia Olivetti

Home Production, Market Production and the Gender Wage Gap: Incentives and Expectations

w12206 Daron Acemoglu
Philippe Aghion
Claire Lelarge
John Van Reenen
Fabrizio Zilibotti

Technology, Information and the Decentralization of the Firm

w12200 Justin Wolfers
Eric Zitzewitz

Interpreting Prediction Market Prices as Probabilities

w12190 Allan Drazen
Marcela Eslava

Pork Barrel Cycles

w12181 Sebnem Kalemli-Ozcan
AIDS, "Reversal" of the Demographic Transition and Economic Development: Evidence from Africa

w12117 Philippe Aghion
Philippe Bacchetta
Romain Ranciere
Kenneth Rogoff

Exchange Rate Volatility and Productivity Growth: The Role of Financial 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)

w12153 Enrico Spolaore
Romain Wacziarg

The Diffusion of Development

w12149 John Y. Campbell
Household Finance

w12142 Charles Yuji Horioka
The Causes of Japan's "Lost Decade": The Role of Household Consumption

w12136 Ricardo J. Caballero
Arvind Krishnamurthy

Flight to Quality and Collective Risk Management

w12130 Ellen R. McGrattan
Lee E. Ohanian

Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II

w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan

w12167 Steven J. Davis
R. Jason Faberman
John Haltiwanger

The Flow Approach to Labor Markets: New Data Sources and Micro-Macro Links

w12166 Gadi Barlevy
H.N. Nagaraja

Identification of Search Models with Initial Condition Problems

w12158 Pierpaolo Benigno
Michael Woodford

Optimal Inflation Targeting under Alternative Fiscal Regimes

w12128 Edward Glaeser
Giacomo Ponzetto
Andrei Shleifer

Why Does Democracy Need Education?

w12125 Francesco Caselli
Wilbur John Coleman II

On the Theory of Ethnic Conflict

w12122 Robert W. Fogel
Why China is Likely to Achieve its Growth Objectives

w12118 Benjamin M. Friedman
The Greenspan Era: Discretion, Rather Than Rules

w12108 Daron Acemoglu
James A. Robinson

Persistence of Power, Elites and Institutions

w12104 Chang-Tai Hsieh
Jonathan A. Parker

Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom

w12103 Eric M. Leeper
Shu-Chun Susan Yang

Dynamic Scoring: Alternative Financing Schemes

w12093 Raghuram G. Rajan
Competitive Rent Preservation, Reform Paralysis, and the Persistence of Underdevelopment

w12092 Steven J. Davis
Kevin M. Murphy
Robert H. Topel

War in Iraq versus Containment

w12089 Bennett T. McCallum
Edward Nelson

Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

w12083 Justin Wolfers
Eric Zitzewitz

Prediction Markets in Theory and Practice

w12082 Mark Aguiar
Erik Hurst

Measuring Trends in Leisure: The Allocation of Time Over Five Decades

w12081 Fumio Hayashi
Edward C. Prescott

The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy

w12079 Andres Arias
Gary D. Hansen
Lee E. Ohanian

Why Have Business Cycle Fluctuations Become Less Volatile?

w12076 Robert G. King
Discretionary Policy and Multiple Equilibria

w12073 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Partisan Impacts on the Economy: Evidence from Prediction Markets and Close Elections

w12067 Raj Chetty
A Bound on Risk Aversion Using Labor Supply Elasticities

w12062 Miles Kimball
Helen Levy
Fumio Ohtake
Yoshiro Tsutsui

Unhappiness after Hurricane Katrina

w12060 Justin Wolfers
Eric Zitzewitz

Five Open Questions About Prediction Markets

w12057 Michael D. Hurd
Susann Rohwedder

Some Answers to the Retirement-Consumption Puzzle

w12053 Andrew Leigh
Justin Wolfers

Competing Approaches to Forecasting Elections: Economic Models, Opinion Polling and Prediction Markets

w12049 Alberto Alesina
Silvia Ardagna
Francesco Trebbi

Who Adjusts and When? On the Political Economy of Reforms

w12046 Ellen McGrattan
Edward Prescott

Why Did U.S. Market Hours Boom in the 1990s?

w12038 Marcos Chamon
Michael Kremer

Economic Transformation, Population Growth and the Long-Run World Income Distribution

w12036 Monika Piazzesi
Martin Schneider
Selale Tuzel

Housing, Consumption, and Asset Pricing

w12035 Michael D. Bordo
Peter L. Rousseau

Legal-Political Factors and the Historical Evolution of the Finance-Growth Link

w12032 Diego Comin
Erica L. Groshen
Bess Rabin

Turbulent Firms, Turbulent Wages?

w12031 Philippe Aghion
Robin Burgess
Stephen Redding
Fabrizio Zilibotti

The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India

w12030 Laurent E. Calvet
John Y. Campbell
Paolo Sodini

Down or Out: Assessing the Welfare Costs of Household Investment Mistakes

w12027 Philippe Aghion
Richard Blundell
Rachel Griffith
Peter Howitt
Susanne Prantl

The Effects of Entry on Incumbent Innovation and Productivity

w12024 N. Gregory Mankiw
Ricardo Reis

Pervasive Stickiness (Expanded Version)

w12023 Kalpana Kochhar
Utsav Kumar
Raghuram Rajan
Arvind Subramanian

India's Patterns of Development: What Happened, What Follows

w12022 Alejandro Justiniano
Giorgio E. Primiceri

The Time Varying Volatility of Macroeconomic Fluctuations

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

w11999 Paola Sapienza
Luigi Zingales
Luigi Guiso

Does Culture Affect Economic Outcomes?

w11996 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

An Equilibrium Model of "Global Imbalances" and Low Interest Rates

w11995 Austan Goolsbee
Peter J. Klenow

Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet

w11993 Torsten Persson
Guido Tabellini

Democracy and Development: The Devil in the Details

w11992 Sergio Godoy
Joseph Stiglitz

Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later

w11988 John F. Helliwell
Haifang Huang

How's Your Government? International Evidence Linking Good Government and Well-Being

w11979 James Choi
David Laibson
Brigitte Madrian

Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment(TM)

w11978 Joseph Engelberg
Charles F. Manski
Jared Williams

Comparing the Point Predictions and Subjective Probability Distributions of Professional Forecasters

w11971 Mark Gertler
John Leahy

A Phillips Curve with an Ss Foundation

w11967 John Kennan
Private Information, Wage Bargaining and Employment Fluctuations

w11954 Edward Miguel
Gerard Roland

The Long Run Impact of Bombing Vietnam

w11948 Carol A. Corrado
Charles R. Hulten
Daniel E. Sichel

Intangible Capital and Economic Growth

w11946 Stephen G. Cecchetti
Alfonso Flores-Lagunes
Stefan Krause

Assessing the Sources of Changes in the Volatility of Real Growth

w11945 Jonathan Gruber
A Tax-Based Estimate of the Elasticity of Intertemporal Substitution

w11943 Steven Haider
Gary Solon

Life-Cycle Variation in the Association between Current and Lifetime Earnings

w11940 Daron Acemoglu
Modeling Inefficient Institutions

w11929 Refet Gurkaynak
Justin Wolfers

Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty, and Risk

w11928 Diego Comin
Bart Hobijn
Emilie Rovito

Five Facts You Need to Know About Technology Diffusion

w11913 Martin Uribe
On Overborrowing


2005
w11898 Michael Woodford
Central Bank Communication and Policy Effectiveness

w11896 Michael Woodford
Robustly Optimal Monetary Policy with Near Rational Expectations

w11889 William Nordhaus
Life After Kyoto: Alternative Approaches to Global Warming

w11888 Robert Shimer
Mismatch

w11874 Troy Davig
Eric M. Leeper

Generalizing the Taylor Principle

w11870 Adam Copeland
George Hall

The Response of Prices, Sales, and Output to Temporary Changes in Demand

w11869 David B. Gordon
Eric M. Leeper

Are Countercyclical Fiscal Policies Counterproductive?

w11862 Adi Brender
Allan Drazen

How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Cross-Section of Countries

w11854 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model

w11847 Jeffrey R. Campbell
Competition in Large Markets

w11845 Daron Acemoglu
Equilibrium Bias of Technology

w11842 Ian Dew-Becker
Robert J. Gordon

Where Did the Productivity Growth Go? Inflation Dynamics and the Distribution of Income

w11839 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Raymond Owens III

Firm Fragmentation and Urban Patterns

w11834 Ricardo Caballero
Arvind Krishnamurthy

Financial System Risk and Flight to Quality

w11826 George-Marios Angeletos
Alessandro Pavan

Efficiency and Welfare with Complementarities and Asymmetric Information

w11820 Ricardo Reis
Inattentive Producers

w11815 Jordi Gali
Tommaso Monacelli

Optimal Monetary and Fiscal Policy in a Currency Union

w11809 Jerry Hausman
Ephraim Leibtag

Consumer Benefits from Increased Competition in Shopping Outlets: Measuring the Effect of Wal-Mart

w11806 Olivier Blanchard
Jordi Gali

Real Wage Rigidities and the New Keynesian Model

w11800 Dale W. Jorgenson
Koji Nomura

The Industry Origins of Japanese Economic Growth

w11789 Edward L. Glaeser
Paternalism and Psychology

w11788 Jordi Gali
Mark Gertler
David Lopez-Salido

Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve

w11787 Roberto Chang
Linda Kaltani
Norman Loayza

Openness Can be Good for Growth: The Role of Policy Complementarities

w11778 Robert J. Gordon
The 1920s and the 1990s in Mutual Reflection

w11777 Robert J. Gordon
What Caused the Decline in U.S. Business Cycle Volatility?

w11776 Robert J. Gordon
Todd vanGoethem

A Century of Housing Shelter Prices: Is There a Downward Bias in the CPI?

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

w11764 Fernando Alvarez
Robert E. Lucas

General Equilibrium Analysis of the Eaton-Kortum Model of International Trade

w11755 Xavier Gabaix
David Laibson

Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets

w11750 Olivier Blanchard
European Unemployment: The Evolution of Facts and Ideas

w11736 Sean D. Campbell
Francis X. Diebold

Stock Returns and Expected Business Conditions: Half a Century of Direct Evidence

w11735 David K. Musto
Nicholas S. Souleles

A Portfolio View of Consumer Credit

w11733 Lars Svensson
Noah Williams

Monetary Policy with Model Uncertainty: Distribution Forecast Targeting

w11731 Erik Hurst
Arthur Kennickell
Annamaria Lusardi
Francisco Torralba

Precautionary Savings and the Importance of Business Owners

w11722 Xavier Gabaix
Parameswaran Gopikrishnan
Vasiliki Plerou
H. Eugene Stanley

Institutional Investors and Stock Market Volatility

w11699 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations

w11694 Neville Francis
Valerie A. Ramey

Measures of Per Capita Hours and their Implications for the Technology-Hours Debate

w11692 Dale T. Mortensen
Eva Nagypal

More on Unemployment and Vacancy Fluctuations

w11689 Robert Shimer
Ivan Werning

Liquidity and Insurance for the Unemployed

w11687 Hanno Lustig
Christopher Sleet
Sevin Yeltekin

Fiscal Hedging and the Yield Curve

w11684 Robert E. Hall
The Labor Market and Macro Volatility: A Nonstationary General-Equilibrium Analysis

w11679 Steven J. Davis
Luis Rivera-Batiz

The Climate for Business Development and Employment Growth in Puerto Rico

w11678 Robert E. Hall
Job Loss, Job Finding, and Unemployment in the U.S. Economy Over the Past Fifty Years

w11669 Sebastian Edwards
The End of Large Current Account Deficits, 1970-2002: Are There Lessons for the United States?

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

w11656 Marcela Eslava
John Haltiwanger
Adriana Kugler
Maurice Kugler

Factor Adjustments After Deregulation: Panel Evidence from Colombian Plants

w11655 Russell Cooper
Hubert Kempf
Dan Peled

Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation

w11651 Robert E. Hall
Separating the Business Cycle from Other Economic Fluctuations

w11646 Eric M. Leeper
Tack Yun

Monetary-Fiscal Policy Interactions and the Price Level: Background and Beyond

w11630 Benjamin M. Friedman
Deficits and Debt in the Short and Long Run

w11638 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

Modeling Exchange-Rate Passthrough After Large Devaluations

w11629 Jeremy Greenwood
Guillaume Vandenbroucke

Hours Worked: Long-Run Trends

w11628 David H. Autor
Lawrence F. Katz
Melissa S. Kearney

Rising Wage Inequality: The Role of Composition and Prices

w11627 David H. Autor
Lawrence F. Katz
Melissa S. Kearney

Trends in U.S. Wage Inequality: Re-Assessing the Revisionists

w11620 Peter Lorentzen
John McMillan
Romain Wacziarg

Death and Development

w11618 Ricardo J. Caballero
Arvind Krishnamurthy

Bubbles and Capital Flow Volatility: Causes and Risk Management

w11617 Christopher R. Berry
Edward L. Glaeser

The Divergence of Human Capital Levels Across Cities

w11601 Mark Aguiar
Erik Hurst

Lifecycle Prices and Production

w11600 Alberto Alesina
Guido Tabellini

Why is Fiscal Policy Often Procyclical?

w11596 Valerie A. Ramey
Daniel J. Vine

Declining Volatility in the U.S. Automobile Industry

w11593 Francesco Giavazzi
Tullio Jappelli
Marco Pagano
Marina Benedetti

Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence

w11588 Stephen H. Shore
Todd Sinai

Commitment, Risk, and Consumption: Do Birds of a Feather Have Bigger Nests?

w11580 Zsolt Darvas
Andrew K. Rose
György Szapáry

Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic

w11578 Jordi Galí
J. David López-Salido
Javier Vallés

Understanding the Effects of Government Spending on Consumption

w11574 Qiang Dai
Thomas Philippon

Fiscal Policy and the Term Structure of Interest Rates

w11573 Simi Kedia
Thomas Philippon

The Economics of Fraudulent Accounting

w11564 Hanno Lustig
Stijn Van Nieuwerburgh

The Returns on Human Capital: Good News on Wall Street is Bad News on Main Street

w11563 Pierre-Olivier Gourinchas
Hélène Rey

From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege

w11562 Marvin Goodfriend
Robert King

The Incredible Volcker Disinflation

w11560 Midori Wakabayashi
Charles Yuji Horioka

Borrowing Constraints and Consumption Behavior in Japan

w11555 Lucia Foster
John Haltiwanger
Chad Syverson

Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?

w11554 James J. Choi
David Laibson
Brigitte C. Madrian

$100 Bills on the Sidewalk: Suboptimal Investment in 401(k) Plans

w11551 Francesco Caselli
James Feyrer

The Marginal Product of Capital

w11548 Robert J. Gordon
Apparel Prices 1914-93 and the Hulten/Brueghel Paradox

w11546 Rasmus Lentz
Dale T. Mortensen

An Empirical Model of Growth Through Product Innovation

w11543 Aart Kraay
Jaume Ventura

The Dot-Com Bubble the Bush Deficits, and the U.S. Current Account

w11542 Philippe Aghion
Mathias Dewatripont
Jeremy C. Stein

Academic Freedom, Private-Sector Focus, and the Process of Innovation

w11538 Andrew Ang
Geert Bekaert
Min Wei

Do Macro Variables, Asset Markets or Surveys Forecast Inflation Better?

w11534 John Y. Campbell
João F. Cocco

How Do House Prices Affect Consumption? Evidence From Micro Data

w11528 Benjamin F. Jones
Benjamin A. Olken

The Anatomy of Start-Stop Growth

w11523 Andrew T. Levin
Alexei Onatski
John C. Williams
Noah Williams

Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models

w11519 César Alonso-Borrego
Jesús Fernández-Villaverde
José E. Galdón-Sánchez

Evaluating Labor Market Reforms: A General Equilibrium Approach

w11503 Diego Comin
Sunil Mulani

A Theory of Growth and Volatility at the Aggregate and Firm Level

w11496 Paul Beaudry
Franck Portier

The "News" View of Economic Fluctuations: Evidence from Aggregate Japanese Data and Sectoral U.S. Data

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

w11467 James H. Stock
Mark W. Watson

Implications of Dynamic Factor Models for VAR Analysis

w11458 Luis Garicano
Esteban Rossi-Hansberg

Organization and Inequality in a Knowledge Economy

w11455 David N. Weil
Accounting for the Effect of Health on Economic Growth

w11451 Paul Beaudry
Patrick Francois

Managerial Skill Acquisition and the Theory of Economic Development

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

w11408 Emmanuel Farhi
Ivan Werning

Inequality, Social Discounting and Estate Taxation

w11405 Kevin M. Murphy
Robert H. Topel

The Value of Health and Longevity

w11401 Sergio Rebelo
Real Business Cycle Models: Past, Present, and Future

w11398 Edward L. Glaeser
Urban Colossus: Why is New York America's Largest City?

w11392 Lars O. Svensson
Robert J. Tetlow

Optimal Policy Projections

w11388 Diego Comin
Thomas Philippon

The Rise in Firm-Level Volatility: Causes and Consequences

w11374 Laurence Ball
Fiscal Remedies for Japan's Slump

w11356 Daron Acemoglu
Pol Antràs
Elhanan Helpman

Contracts and the Division of Labor

w11354 William Nordhaus
The Sources of the Productivity Rebound and the Manufacturing Employment Puzzle

w11352 Michael W. Klein
Studying Texts: A Gemara of the Israeli Economy

w11349 Philippe Aghion
George-Marios Angeletos
Abhijit Banerjee
Kalina Manova

Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment

w11330 Jeffrey R. Campbell
Zvi Hercowitz

The Role of Collateralized Household Debt in Macroeconomic Stabilization

w11313 Jeff Dominitz
Charles F. Manski

Measuring and Interpreting Expectations of Equity Returns

w11310 Robert J. Barro
Rare Events and the Equity Premium

w11300 Robert J. Shiller
The Life-Cycle Personal Accounts Proposal for Social Security: A Review

w11297 Ricardo Reis
The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuation

w11296 Jaume Ventura
A Global View of Economic Growth

w11293 Ricardo Caballero
Stavros Panageas

A Quantitative Model of Sudden Stops and External Liquidity Management

w11285 Jean Boivin
Serena Ng

Understanding and Comparing Factor-Based Forecasts

w11278 Alberto Alesina
Edward L. Glaeser
Bruce Sacerdote

Work and Leisure in the U.S. and Europe: Why So Different?

w11277 David N. Figlio
Boys Named Sue: Disruptive Children and their Peers

w11275 Daron Acemoglu
Politics and Economics in Weak and Strong States

w11268 Raquel Fernandez
Alessandra Fogli

Culture: An Empirical Investigation of Beliefs, Work, and Fertility

w11262 Esteban Rossi-Hansberg
Mark L.J. Wright

Urban Structure and Growth

w11261 Esteban Rossi-Hansberg
Mark L.J. Wright

Firm Size Dynamics in the Aggregate Economy

w11257 Adam Copeland
Wendy Dunn
George Hall

Prices, Production and Inventories over the Automotive Model Year

w11250 Martin Feldstein
Rethinking Social Insurance

w11249 Martin Feldstein
The Euro and the Stability Pact

w11245 Robert E. Hall
Paul R. Milgrom

The Limited Influence of Unemployment on the Wage Bargain

w11237 Harold L. Cole
Lee E. Ohanian
Ron Leung

Deflation and the International Great Depression: A Productivity Puzzle

w11235 Daron Acemoglu
Constitutions, Politics and Economics: A Review Essay on Persson and Tabellini's "The Economic Effect of Constitutions"

w11224 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

SMEs, Growth, and Poverty

w11212 Troy Davig
Eric M. Leeper

Fluctuating Macro Policies and the Fiscal Theory

w11208 Roland Benabou
Jean Tirole

Belief in a Just World and Redistributive Politics

w11205 Daron Acemoglu
Simon Johnson
James Robinson
Pierre Yared

Income and Democracy

w11204 Daron Acemoglu
Simon Johnson
James A. Robinson
Pierre Yared

From Education to Democracy?

w11202 Chang-Tai Hsieh
Enrico Moretti

Did Iraq Cheat the United Nations? Underpricing, Bribes, and the Oil for Food Program

w11201 Daron Acemoglu
Asuman Ozdaglar

Competition and Efficiency in Congested Markets

w11193 John Cochrane
Financial Markets and the Real Economy

w11191 Christian Hellwig
Arijit Mukherji
Aleh Tsyvinski

Self-Fulfilling Currency Crises: The Role of Interest Rates

w11188 Torben G. Andersen
Tim Bollerslev
Peter F. Christoffersen
Francis X. Diebold

Volatility Forecasting

w11187 Ann M. Lawson
Brian C. Moyer
Sumiye Okubo
Mark A. Planting

Integrating Industry and National Economic Accounts: First Steps and Future Improvements

w11186 Robert E. Hall
The Amplification of Unemployment Fluctuations through Self-Selection

w11185 Mikhail Golosov
Aleh Tsyvinski

Optimal Taxation with Endogenous Insurance Markets

w11183 Robert E. Hall
Employment Efficiency and Sticky Wages: Evidence from Flows in the Labor Market

w11180 George-Marios Angeletos
UNINSURED IDIOSYNCRATIC INVESTMENT RISK

w11171 Torsten Persson
Forms of Democracy, Policy and Economic Development

w11163 John Laitner
Dan Silverman

Estimating Life-Cycle Parameters from Consumption Behavior at Retirement

w11161 James D. Hamilton
What's Real About the Business Cycle?

w11149 Michael Woodford
Firm-Specific Capital and the New-Keynesian Phillips Curve

w11146 Michele Boldrin
Mariacristina De Nardi
Larry E. Jones

Fertility and Social Security

w11145 Joshua Aizenman
Financial Liberalization in Latin-America in the 1990s: A Reassessment

w11137 Olivier Blanchard
Francesco Giavazzi
Filipa Sa

The U.S. Current Account and the Dollar

w11134 Torben G. Andersen
Tim Bollerslev
Francis X. Diebold
Jin (Ginger) Wu

A Framework for Exploring the Macroeconomic Determinants of Systematic Risk

w11133 V.V. Chari
Patrick Kehoe
Ellen R. McGrattan

Sudden Stops and Output Drops

w11130 Jordi Gali
Trends in Hours, Balanced Growth, and the Role of Technology in the Business Cycle

w11129 Edward L. Glaeser
Joseph Gyourko
Raven Saks

Why Have Housing Prices Gone Up?

w11125 Robert W. Fogel
RECONSIDERING EXPECTATIONS OF ECONOMIC GROWTH AFTER

w11110 Oriol Carbonell-Nicolau
Diego Comin

Testing out Contractual Incompleteness: Evidence from Soccer

w11107 John R. Baldwin
Tarek Harchaoui

The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead

w11106 Karen Wilson
The Architecture of the System of National Accounts: A Three Country Comparison, Canada, Australia, and United Kingdom

w11099 Joseph J. Doyle Jr.
Health Insurance, Treatment and Outcomes: Using Auto Accidents as Health Shocks

w11093 Boyan Jovanovic
Peter L. Rousseau

General Purpose Technologies

w11089 Francis X. Diebold
Monika Piazzesi
Glenn Rudebusch

Modeling Bond Yields in Finance and Macroeconomics

w11088 Mats Persson
Torsten Persson
Lars E.O. Svensson

Time Consistency of Fiscal and Monetary Policy: A Solution

w11085 Allan Drazen
Marcela Eslava

Electoral Manipulation via Expenditure Composition: Theory and Evidence

w11083 Andrew Atkeson
Harold Cole

A Dynamic Theory of Optimal Capital Structure and Executive Compensation

w11079 Rob Alessie
Agar Brugiavini
Guglielmo Weber

Saving and Cohabitation: The Economic Consequences of Living with One's Parents in Italy and the Netherlands

w11078 Simeon Djankov
Caralee McLiesh
Andrei Shleifer

Private Credit in 129 Countries

w11073 Brian Moyer
Marshall Reinsdorf
Robert Yuskavage

Aggregation Issues in Integrating and Accelerating BEA's Accounts: Improved Methods for Calculating GDP by Industry

w11065 Fabio Canova
Evi Pappa

Does it Cost to be Virtuous? The Macroeconomic Effects of Fiscal Constraints

w11064 Martin D.D. Evans
Where Are We Now? Real-Time Estimates of the Macro Economy

w11056 Bennett T. McCallum
A Monetary Policy Rule for Automatic Prevention of a Liquidity Trap

w11054 Dongchul Cho
Interest Rate, Inflation, and Housing Price: With an Emphasis on Chonsei Price in Korea

w11050 Claudio Michelacci
Vincenzo Quadrini

Financial Markets and Wages

w11045 Francesco Caselli
Silvana Tenreyro

Is Poland the Next Spain?

w11043 Peter J. Klenow
Oleksiy Kryvtsov

State-Dependent or Time-Dependent Pricing: Does it Matter for Recent U.S. Inflation?

w11034 David Altig
Lawrence Christiano
Martin Eichenbaum
Jesper Linde

Firm-Specific Capital, Nominal Rigidities and the Business Cycle

w11030 Marco Bassetto
Thomas Sargent

Politics and Efficiency of Separating Capital and Ordinary Government Budgets

w11029 Pierpaolo Benigno
Michael Woodford

Optimal Taxation in an RBC Model: A Linear-Quadratic Approach

w11024 Flavio Cunha
James J. Heckman
Salvador Navarro

Separating Uncertainty from Heterogeneity in Life Cycle Earnings

w11022 Diego Comin
Bart Hobijn

Lobbies and Technology Diffusion


2004
w11017 George-Marios Angeletos
Christian Hellwig
Alessandro Pavan

Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change

w11016 George-Marios Angeletos
Laurent-Emmanuel Calvet

Incomplete Market Dynamics in a Neoclassical Production Economy

w11015 George-Marios Angeletos
Ivan Werning

Crises and Prices: Information Aggregation, Multiplicity and Volatility

w11012 Morten O. Ravn
Stephanie Schmitt-Grohe
Martin Uribe

The Macroeconomics of Subsistence Points

w11010 Anthony W. Lynch
Sinan Tan

Labor Income Dynamics at Business-Cycle Frequencies: Implications for Portfolio Choice

w11009 Peter J. Klenow
Andres Rodriguez-Clare

Externalities and Growth

w11008 Harold L. Cole
Lee E. Ohanian
Alvaro Riascos
James A. Schmitz
Jr.

Latin America in the Rearview Mirror

w11000 N. Gregory Mankiw
Matthew Weinzierl

Dynamic Scoring: A Back-of-the-Envelope Guide

w10999 Philippe Aghion
Jeremy C. Stein

Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants

w10997 Daron Acemoglu
Philippe Aghion
Rachel Griffith
Fabrizio Zilibotti

Vertical Integration and Technology: Theory and Evidence

w10991 Alwyn Young
The Gift of the Dying: The Tragedy of AIDS and the Welfare of Future African Generations

w10986 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

Large Devaluations and the Real Exchange Rate

w10970 Raj Chetty
Adam Szeidl

Consumption Commitments: Neoclassical Foundations for Habit Formation

w10971 Michael Kremer
Edward Miguel
Rebecca Thornton

Incentives to Learn

w10953 Sita Nataraj
John B. Shoven

Has the Unified Budget Undermined the Federal Government Trust Funds?

w10950 William Nordhaus
Retrospective on the 1970s Productivity Slowdown

w10928 Allan Drazen
Nuno Limão
Thomas Stratman

Political Contribution Caps and Lobby Formation: Theory and Evidence

w10927 Allan Drazen
Peter Isard

Can Public Discussion Enhance Program Ownership?

w10926 Gadi Barlevy
The Cost of Business Cycles and the Benefits of Stabilization: A Survey

w10922 Diego Comin
Sunil Mulani

Diverging Trends in Macro and Micro Volatility: Facts

w10921 Charles I. Jones
Dean Scrimgeour

The Steady-State Growth Theorem: A Comment on Uzawa (1961)

w10916 William A. Brock
Steven N. Durlauf
Kenneth D. West

Model Uncertainty and Policy Evaluation: Some Theory and Empirics

w10915 Julio J. Rotemberg
Fair Pricing

w10910 Boyan Jovanovic
The Product Cycle and Inequality

w10909 Nobuhiro Kiyotaki
Kenneth D. West

Land Prices and Business Fixed Investments in Japan

w10903 Craig Burnside
Domenico Fanizza

Hiccups for HIPCs?

w10892 Casey B. Mulligan
Yona Rubinstein

The Closing of the Gender Gap as a Roy Model Illusion

w10889 Matthew B. Canzoneri
Robert E. Cumby
Behzad T. Diba

The Cost of Nominal Inertia in NNS Models

w10888 Arthur Kennickell
Annamaria Lusardi

Disentangling the Importance of the Precautionary Saving Mode

w10883 Ricardo Reis
Inattentive Consumers

w10879 Paul Willen
Igal Hendel
Joel Shapiro

Educational Opportunity and Income Inequality

w10878 Takatoshi Ito
Frederic S. Mishkin

Two Decades of Japanese Monetary Policy and the Deflation Problem

w10869 Maurice Obstfeld
Kenneth Rogoff

The Unsustainable US Current Account Position Revisited

w10867 Christopher Carroll
Theoretical Foundations of Buffer Stock Saving

w10855 Robert Barsky
Lutz Kilian

Oil and the Macroeconomy Since the 1970s

w10854 William A. Brock
M. Scott Taylor

Economic Growth and the Environment: A Review of Theory and Empirics

w10843 Maurice Obstfeld
External Adjustment

w10840 Gauti B. Eggertsson
Michael Woodford

Optimal Monetary and Fiscal Policy in a Liquidity Trap

w10839 Pierpaolo Benigno
Michael Woodford

Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State

w10838 Pierpaolo Benigno
Michael Woodford

Inflation Stabilization and Welfare: The Case of a Distorted Steady State

w10835 Edward L. Glaeser
Giacomo A. M. Ponzetto
Jesse M. Shapiro

Strategic Extremism: Why Republicans and Democrats Divide on Religious Values

w10831 Michael J. Geske
Valerie A. Ramey
Matthew D. Shapiro

Why Do Computers Depreciate?

w10828 Francesco Caselli
Accounting for Cross-Country Income Differences

w10821 Edward L. Glaeser
Raven Saks

Corruption in America

w10793 Jeremy Greenwood
Gokce Uysal

New Goods and the Transition to a New Economy

w10788 Silvia Ardagna
Francesco Caselli
Timothy Lane

Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries

w10787 Alan S. Blinder
Alan B. Krueger

What Does the Public Know about Economic Policy, and How Does It Know It?

w10786 Ricardo J. Caballero
Stavros Panageas

Contingent Reserves Management: An Applied Framework

w10784 David S. Johnson
Jonathan A. Parker
Nicholas S. Souleles

Household Expenditure and the Income Tax Rebates of 2001

w10778 Carol H. Shiue
Wolfgang Keller

Markets in China and Europe on the Eve of the Industrial Revolution

w10776 Paul Beaudry
Franck Portier

When Can Changes in Expectations Cause Business Cycle Fluctuations in Neo-Classical Settings?

w10772 Jeremy Greenwood
Nezih Guner

Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households

w10771 Boyan Jovanovic
The Pre-Producers

w10767 Charles I. Jones
Growth and Ideas

w10766 Ross Levine
Finance and Growth: Theory and Evidence

w10765 Jeremy Greenwood
Ananth Seshadri

Technological Progress and Economic Transformation

w10764 Thomas Sargent
Noah Williams
Tao Zha

Shocks and Government Beliefs: The Rise and Fall of American Inflation

w10752 Robert W. Fogel
High Performing Asian Economies

w10750 Roberto Rigobon
Dani Rodrik

Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships

w10749 Ha Yan Lee
Luca Antonio Ricci
Roberto Rigobon

Once Again, is Openness Good for Growth?

w10744 Ricardo J. Caballero
Kevin N. Cowan
Eduardo M.R.A. Engel
Alejandro Micco

Effective Labor Regulation and Microeconomic Flexibility

w10741 Gadi Barlevy
On the Timing of Innovation in Stochastic Schumpeterian Growth Models

w10737 Robert E. Hall
Charles I. Jones

The Value of Life and the Rise in Health Spending

w10734 Mark Aguiar
Gita Gopinath

Emerging Market Business Cycles: The Cycle is the Trend

w10733 Diego Comin
Bart Hobijn

Neoclassical Growth and the Adoption of Technologies

w10732 Simon Gilchrist
John C. Williams

Transition Dynamics in Vintage Capital Models: Explaining the Postwar Catch-Up of Germany and Japan

w10725 Marianne Baxter
Michael A. Kouparitsas

Determinants of Business Cycle Comovement: A Robust Analysis

w10724 Stephanie Schmitt-Grohe
Martin Uribe

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

w10723 Charles Engel
Kenneth D. West

Exchange Rates and Fundamentals

w10712 Jerry Hausman
Ephraim Leibtag

CPI Bias from Supercenters: Does the BLS Know that Wal-Mart Exists?

w10707 Markus K. Brunnermeier
Jonathan A. Parker

Optimal Expectations

w10703 Valerie A. Ramey
Daniel J. Vine

Why Do Real and Nominal Inventory-Sales Ratios Have Different Trends

w10694 Alan J. Auerbach
Budget Windows, Sunsets, and Fiscal Control

w10681 Eric M. Engen
R. Glenn Hubbard

Federal Government Debt and Interest Rates

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

w10673 Aasim M. Husain
Ashoka Mody
Kenneth S. Rogoff

Exchange Rate Regime Durability and Performance in Developing Countries Versus Advanced Economies

w10672 Andrew Ang
Monika Piazzesi
Min Wei

What Does the Yield Curve Tell us about GDP Growth?

w10669 Angus Deaton
Health in an Age of Globalization

w10662 Robert J. Gordon
Two Centuries of Economic Growth: Europe Chasing the American Frontier

w10661 Robert J. Gordon
Why was Europe Left at the Station When America's Productivity Locomotive Departed?

w10660 Robert J. Gordon
Five Puzzles in the Behavior of Productivity, Investment, and Innovation

w10655 Richard Rogerson
Robert Shimer
Randall Wright

Search-Theoretic Models of the Labor Market-A Survey

w10652 Aubhik Khan
Julia K. Thomas

Modeling Inventories Over the Business Cycle

w10646 Frederic S. Mishkin
Can Inflation Targeting Work in Emerging Market Countries?

w10642 Willem H. Buiter
Anne C. Sibert

Deflationary Bubbles

w10636 Jordi Gali
Pau Rabanal

Technology Shocks and Aggregate Fluctuations: How Well Does the RBS Model Fit Postwar U.S. Data?

w10631 Neville Francis
Valerie A. Ramey

The Source of Historical Economic Fluctuations: An Analysis using Long-Run Restrictions

w10627 Diego Comin
Using Investment Data to Assess the Importance of Price Mismeasurement

w10617 Martin Eichenbaum
Jonas D.M. Fisher

Evaluating the Calvo Model of Sticky Prices

w10616 Francis X. Diebold
Glenn D. Rudebusch
S. Boragan Aruoba

The Macroeconomy and the Yield Curve: A Dynamic Latent Factor Approach

w10612 Bennett T. McCallum
Edward Nelson

Targeting vs. Instrument Rules for Monetary Policy

w10606 Mark Bils
Measuring the Growth from Better and Better Goods

w10601 Herschel I. Grossman
Peace and War in Territorial Disputes

w10597 David Backus
Bryan Routledge
Stanley Zin

Exotic Preferences for Macroeconomists

w10592 Susanto Basu
John Fernald
Miles Kimball

Are Technology Improvements Contractionary?

w10590 Olivier Blanchard
Thomas Philippon

The Quality of Labor Relations and Unemployment

w10589 Raquel Fernandez
Alessandra Fogli
Claudia Olivetti

Preference Formation and the Rise of Women's Labor Force Participation: Evidence from WWII

w10584 Raphael Bergoeing
Norman Loayzaw
Andrea Repetto

Slow Recoveries

w10573 Boyan Jovanovic
Asymmetric Cycles

w10568 Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

Do Institutions Cause Growth?

w10566 Ricardo Hausmann
Lant Pritchett
Dani Rodrik

Growth Accelerations

w10565 Paul Beaudry
Fabrice Collard

Globalization, Returns to Accumulationa and the World Distribution of Output

w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment

w10560 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Growth Volatility and Financial Liberalization

w10557 William A. Brock
M. Scott Taylor

The Green Solow Model

w10556 Alessandro Barbarino
Boyan Jovanovic

Shakeouts and Market Crashes

w10548 Paul Beaudry
Franck Portier

Stock Prices, News and Economic Fluctuations

w10540 Fabio Ghironi
Marc J. Melitz

International Trade and Macroeconomic Dynamics with Heterogeneous Firms

w10539 Adi Brender
Allan Drazen

Political Budget Cycles in New versus Established Democracies

w10532 Ricardo J. Caballero
Arvind Krishnamurthy

Fiscal Policy and Financial Depth

w10527 Andrew Postlewaite
Larry Samuelson
Dan Silverman

Consumption, Commitmants and Preferences for Risk

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

w10523 Sangeeta Pratap
Carlos Urrutia

Firm Dynamics, Investment, and Debt Portfolio: Balance Sheet Effects of the Mexican Crisis of 1994

w10519 Ricardo Caballero
Kevin Cowan
Jonathan Kearns

Fear of Sudden Stops: Lessons from Australia and Chile

w10518 Ricardo Caballero
Emmanuel Farhi
Mohamad L. Hammour

Speculative Growth: Hints from the US Economy

w10517 Ricardo Caballero
Arvind Krishnamurthy

Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective

w10514 John Ameriks
Andrew Caplin
John Leahy
Tom Tyler

Measuring Self-Control

w10509 Steven J. Davis
Magnus Henrekson

Tax Effects on Work Activity, Industry Mix and Shadow Economy Size: Evidence from Rich-Country Comparisons

w10505 Hanno Lustig
Stijn Van Nieuwerburgh

How Much Does Household Collateral Constrain Regional Risk Sharing?

w10504 Justin Wolfers
Eric Zitzewitz

Prediction Markets

w10495 William A. Brock
Steven N. Durlauf

Elements of a Theory of Design Limits to Optimal Policy

w10487 Erik Hurst
James P. Ziliak

Do Welfare Asset Limits Affect Household Saving? Evidence from Welfare Reform

w10486 James J. Choi
David Laibson
Brigitte C. Madrian

Plan Design and 401(k) Savings Outcomes

w10485 Steven N. Durlauf
Marcel Fafchamps

Social Capital

w10481 Daron Acemoglu
Simon Johnson
James Robinson

Institutions as the Fundamental Cause of Long-Run Growth

w10469 Gadi Barlevy
Daniel Tsiddon

Earnings Inequality and the Business Cycle

w10460 Naci Mocan
What Determines Corruption? International Evidence from Micro Data

w10458 Marjorie Flavin
Shinobu Nakagawa

A Model of Housing in the Presence of Adjustment Costs: A Structural Interpretation of Habit Persistence

w10457 Charles I. Jones
The Shape of Production Function and the Direction of Technical Change

w10454 James J. Choi
David Laibson
Brigitte C. Madrian
Andrew Metrick

Consumption-Wealth Comovement of the Wrong Sign

w10443 Olivier Blanchard
Jean Tirole

The Optimal Design of Unemployment Insurance and Employment Protection. A First Pass

w10438 Robert J. Barro
Rachel M. McCleary

Which Countries Have State Religions?

w10433 William D. Nordhaus
Schumpeterian Profits in the American Economy: Theory and Measurement

w10430 Martin Eichenbaum
Jonas Fisher

Fiscal Policy in the Aftermath of 9/11

w10416 Tamim Bayoumi
Douglas Laxton
Paolo Pesenti

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assesment

w10415 Christopher L. House
Matthew D. Shapiro

Phased-In Tax Cuts and Economic Activity

w10400 Mervyn King
The Institutions of Monetary Policy

w10399 Wojciech Kopczuk
Emmanuel Saez

Top Wealth Shares in the United States: 1916-2000: Evidence from Estate Tax Returns

w10398 Ricardo J. Caballlero
Eduardo Engel
Alejandro Micco

Microeconomic Flexibility in Latin America

w10392 Jordi Gali
J. David Lopez-Salido
Javier Valles

Rule-of-Thumb Consumers and the Design of Interest Rate Rules

w10391 George-Marios Angeletos
Alessandro Pavan

Transparency of Information and Coordination in Economies with Investment Complementarities

w10389 Olivier Blanchard
Fiscal Dominance and Inflation Targeting: Lessons from Brazil

w10387 Pablo A. Neumeyer
Fabrizio Perri

Business Cycles in Emerging Economies: The Role of Interest Rates

w10384 Valerie A. Ramey
Daniel J. Vine

Tracking the Source of the Decline in GDP Volatility: An Analysis of the Automobile Industry

w10376 Dani Rodrik
Arvind Subramanian

From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition

w10375 Allan Drazen
Nuno Limão

Government Gains from Self-Restraint: A Bargaining Theory of Inefficient Redistribution

w10371 Roland Benabou
Inequality, Technology, and the Social Contract

w10368 Ricardo J. Caballero
Eduardo M.R.A. Engel

Three Strikes and You're Out: Reply to Cooper and Willis

w10367 Marcela Eslava
John Haltiwanger
Adriana Kugler
Maurice Kugler

The Effect of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia

w10362 Troy Davig
Eric M. Leeper
Hess Chung

Monetary and Fiscal Policy Switching

w10358 Philippe Aghion
Peter Howitt
David Mayer-Foulkes

The Effect of Financial Development on Convergence: Theory and Evidence

w10354 Raj Chetty
Interest Rates and Backward-Bending Investment

w10351 V.V. Chari
Patrick J. Kehoe
Ellen McGrattan

Business Cycle Accounting

w10347 Dirk Krueger
Jessica Tjornhom Donohue

On the Distributional Consequences of Child Labor Legislation

w10342 Alberto Alesina
Roberto Perotti

The European Union: A Politically Incorrect View

w10338 Orazio Attanasio
Erich Battistin
Hidehiko Ichimura

What Really Happened to Consumption Inequality in the US?

w10310 Olivier Blanchard
The Economic Future of Europe

w10326 Robert Shimer
The Consequences of Rigid Wages in Search Models

w10324 Michael Kremer
Edward Miguel

The Illusion of Sustainability

w10316 Edward C. Prescott
Why do Americans Work so Much More than Europeans?

w10313 Alberto Alesina
Eliana La Ferrara

Ethnic Diversity and Economic Performance

w10309 Peter N. Ireland
Technology Shocks in the New Keynesian Model

w10307 Mark Aguiar
Erik Hurst

Consumption vs. Expenditure

w10298 Boyan Jovanovic
Peter L. Rousseau

Interest Rates and Initial Public Offerings

w10297 Russel W. Cooper
John C. Haltiwanger
Jonathan Willis

Dynamics of Labor Demand: Evidence from Plant-level Observations and Aggregate Implications

w10296 Carmen M. Reinhart
Kenneth S. Rogoff

Serial Default and the "Paradox" of Rich to Poor Capital Flows

w10290 Alan Auerbach
Maurice Obstfeld

Monetary and Fiscal Remedies for Deflation

w10280 Kenneth D. West
Monetary Policy and the Volatility of Real Exchange Rates in New Zealand

w10272 Jess Benhabib
Stephanie Schmitt-Grohe
Martin Uribe

Chaotic Interest Rate Rules: Expanded Version

w10268 Andrew Atkeson
Patrick Kehoe

Deflation and Depression: Is There and Empirical Link?

w10263 John Y. Campbell
Tuomo Vuolteenaho

Inflation Illusion and Stock Prices

w10262 Casey B. Mulligan
What do Aggregate Consumption Euler Equations Say about the Capital Income Tax Burden?

w10261 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Deep Habits

w10257 Steven Haider
Melvin Stephens Jr.

Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations

w10255 Lawrence J. Christiano
Roberto Motto
Massimo Rostagno

The Great Depression and the Friedman-Schwartz Hypothesis

w10254 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology

w10248 Kevin Murphy
Andrei Shleifer

Persuasion in Politics

w10246 Philippe Aghion
Philippe Bacchetta
Abhijit Banerjee

Financial Development and the Instability of Open Economies

w10241 Alberto Alesina
Guido Tabellini

Bureaucrats or Politicians?

w10239 Russell Cooper
Hubert Kempf
Dan Peled

Is it is or is it Ain't my Obligation? Regional Debt in Monetary Unions

w10238 Ariel Burstein
Joao C. Neves
Sergio Rebelo

Investment Prices and Exchange Rates: Some Basic Facts

w10236 Raymond Fisman
Inessa Love

Financial Development and Growth in the Short and Long Run

w10234 Casey B. Mulligan
Andrei Shleifer

Population and Regulation

w10232 V.V. Chari
Patrick J. Kehoe

On the Desirability of Fiscal Constraints in a Monetary Union

w10231 Mikhail Golosov
Larry E. Jones
Michele Tertilt

Efficiency with Endogenous Population Growth

t0296 William R. Hauk
Romain Wacziarg

A Monte Carlo Study of Growth Regressions

w10216 John Ameriks
Andrew Caplin
John Leahy

The Absent-Minded Consumer

w10211 Raj Chetty
Consumption Commitments, Unemployment Durations, and Local Risk Aversion

w10210 Casey B. Mulligan
Robust Aggregate Implications of Stochastic Discount Factor Volatility

w10201 Jeffrey R. Campbell
Zvi Hercowitz

The Dynamics of Work and Debt


2003
w10194 Noah Williams
Small Noise Asymptotics for a Stochastic Growth Model

w10191 Edward L. Glaeser
Albert Saiz

The Rise of the Skilled City

w10187 Mikhail Golosov
Robert E. Lucas

Menu Costs and Phillips Curves

w10183 Robert J. Shiller
The Invention of Inflation-Indexed Bonds in Early America

w10180 Herschel I. Grossman
Choosing Between Peace and War

w10163 Willem H. Buiter
Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap

w10152 Romain Wacziarg
Karen Horn Welch

Trade Liberalization and Growth: New Evidence

w10151 Manuel Amador
Ivan Werning
George-Marios Angeletos

Commitment Vs. Flexibility

w10150 Robert E. Hall
Corporate Earnings Track the Competitive Benchmark

w10149 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy Under Imperfect Competition

w10147 Robert Barro
Rachel M. McCleary

International Determinants of Religiosity

w10146 Gadi Barlevy
Estimating Models of On-the-Job Search Using Record Statistics

w10136 Daron Acemoglu
James A. Robinson
Thierry Verdier

Kleptocracy and Divide-and-Rule: A Model of Personal Rule

w10135 Dirk Krueger
Harald Uhlig

Competitive Risk Sharing Contracts with One-Sided Commitment

w10132 Thomas Cooley
Ramon Marimon
Vincenzo Quadrini

Aggregate Consequences of Limited Contract Enforceability

w10130 Michael D. Bordo
Thomas Helbling

Have National Business Cycles Become More Synchronized?

w10128 Mark Gertler
Simon Gilchrist
Fabio Natalucci

External Constraints on Monetary Policy and the Financial Accelerator

w10124 Edward L. Glaeser
Joseph Gyourko
Raven Saks

Why is Manhattan So Expensive? Regulation and the Rise in House Prices

w10109 Susan Athey
Andrew Atkeson
Patrick Kehoe

The Optimal Degree of Discretion in Monetary Policy

w10099 Andrew B. Abel
Optimal Taxation When Consumers Have Endogenous Benchmark Levels of Consumption

w10098 Erik Hurst
Grasshoppers, Ants, and Pre-Retirement Wealth: A Test of Permanent Income

w10089 Eric Leeper
An "Inflation Reports" Report

w10078 Aubhik Khan
Julia Thomas

Inventories and the Business Cycle: An Equilibrium Analysis of (S,s) Policies

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

w10031 Lawrence J. Christiano
Jonas D. M. Fisher

Stock Market and Investment Goods Prices: Implications for Macroeconomics

w10025 William A. Brock
Steven N. Durlauf
Kenneth D. West

Policy Evaluation in Uncertain Economic Environments

w10023 Alan J. Auerbach
Fiscal Policy, Past and Present

w10018 Martin Uribe
Vivian Z. Yue

Country Spreads and Emerging Countries: Who Drives Whom?

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?

w10009 Peter F. Christoffersen
Francis X. Diebold

Financial Asset Returns, Direction-of-Change Forecasting, and Volatility Dynamics

w10006 Russell W. Cooper
Jonathan Willis

The Cost of Labor Adjustment: Inferences from the Gap

w10003 Diego Comin
Mark Gertler

Medium Term Business Cycles

w10001 Dirk Krueger
Krishna B. Kumar

US-Europe Differences in Technology-Driven Growth: Quantifying the Role of Education

w9993 Dirk Krueger
Fabrizio Perri

On the Welfare Consequences of the Increase in Inequality in the United States

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.

w9984 Ignazio Angeloni
Anil K. Kashyap
Benoit Mojon
Daniele Terlizzese

Monetary Transmission in the Euro Area: Does the Interest Rate Channel Explain it All?

w9976 Melvin Stephens Jr.
The Consumption Response to Predictable Changes in Discretionary Income: Evidence from the Repayment of Vehicle Loans

w9970 Gadi Barlevy
The Cost of Business Cycles Under Endogenous Growth

w9968 Gauti B. Eggertsson
Michael Woodford

Optimal Monetary Policy in a Liquidity Trap

w9967 Robert E. Hall
Wage Determination and Employment Fluctuations

w9961 Bennett T. McCallum
Is the Fiscal Theory of the Price Level Learnable?

w9960 Bennett T. McCallum
The Unique Minimum State Variable RE Solution is E-Stable in All Well Formulated Linear Models

w9946 Robert G. King
Julia K. Thomas

Partial Adjustment without Apology

w9939 Marc P. Giannoni
Michael Woodford

Optimal Inflation Targeting Rules

w9929 Robert G. King
Alexander L. Wolman

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

w9928 Francesco Caselli
Daniel Wilson

Importing Technology

w9926 Jeff Dominitz
Charles F. Manski

How Should We Measure Consumer Confidence (Sentiment)? Evidence from the Michigan Survey of Consumers

w9924 Jason G. Cummins
A New Approach to the Valuation of Intangible Capital

w9917 James Choi
David Laibson
Brigitte Madrian
Andrew Metrick

Passive Decisions and Potent Defaults

w9905 Pierpaolo Benigno
Michael Woodford

Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach

w9898 Ricardo J. Caballero
Eduardo Engel

Adjustment is Much Slower than You Think

w9886 Edward L. Glaeser
Janet E. Kohlhase

Cities, Regions and the Decline of Transport Costs

w9867 Sebastian Edwards
Eduardo Levy Yeyati

Flexible Exchange Rates as Shock Absorbers

w9866 Christina D. Romer
David H. Romer

A New Measure of Monetary Shocks: Derivation and Implications

w9865 Elsa V. Artadi
Xavier Sala-i-Martin

The Economic Tragedy of the XXth Century: Growth in Africa

w9859 James H. Stock
Mark W. Watson

Understanding Changes in International Business Cycle Dynamics

w9848 Martin Lettau
Sydney Ludvigson

Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption

w9840 Laurent Calvet
Martin Gonzalez-Eiras
Paolo Sodini

Financial Innovation, Market Participation and Asset Prices

w9839 Laurent Calvet
Adlai Fisher

Regime-Switching and the Estimation of Multifractal Processes

w9838 Bennett T. McCallum
Monetary Policy in Economies with Little or No Money

w9837 Bennett T. McCallum
Multiple-Solution Indeterminacies in Monetary Policy Analysis

w9832 Robert Barsky
Christopher L. House
Miles Kimball

Do Flexible Durable Goods Prices Undermine Sticky Price Models?

w9822 Angus Deaton
Measuring Poverty in a Growing World (or Measuring Growth in a Poor World)

w9819 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

What Happens After a Technology Shock?

w9814 Alan J. Auerbach
Maurice Obstfeld

The Case for Open-Market Purchases in a Liquidity Trap

w9809 Alberto Alesina
Alexander Wagner

Choosing (and reneging on) exchange rate regimes

w9804 Xavier Sala-i-Martin
Arvind Subramanian

Addressing the Natural Resource Curse: An Illustration from Nigeria

w9802 Daron Acemoglu
Michael Kremer
Atif Mian

Incentives in Markets, Firms and Governments

w9796 N. Gregory Mankiw
Ricardo Reis
Justin Wolfers

Disagreement about Inflation Expectations

w9794 Herschel I. Grossman
Distributional Disputes and Civil Conflict

w9793 Herschel I. Grossman
". . . and six hundred thousand men were dead."

w9786 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Government Finance in the Wake of Currency Crises

w9783 Patrick Bajari
C. Lanier Benkard
John Krainer

House Prices and Consumer Welfare

w9775 Rafael LaPorta
Florencio Lopez-de-Silane
Cristian Pop-Eleches
Andrei Shleifer

Judicial Checks and Balances

w9773 Jordi Gali
Roberto Perotti

Fiscal Policy and Monetary Integration in Europe

w9772 Craig Burnside
Martin Eichenbaum
Jonas Fisher

Fiscal Shocks and Their Consequences

w9778 Ricardo J. Caballero
Stavros Panageas

Hedging Sudden Stops and Precautionary Contractions

w9767 George-Marios Angeletos
Christian Hellwig
Alessandro Pavan

Coordination and Policy Traps

w9765 Gary S. Becker
Tomas J. Philipson
Rodrigo R. Soares

The Quantity and Quality of Life and the Evolution of World Inequality

w9764 George-Marios Angeletos
Laurent Calvet

Idiosyncratic Production Risk, Growth, and the Business Cycle

w9759 John Y. Campbell
Joao F. Cocco

Household Risk Management and Optimal Mortgage Choice

w9756 Simeon Djankov
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Juan Botero

The Regulation of Labor

w9747 Lars E. O. Svensson
Michael Woodford

Implementing Optimal Policy through Inflation-Forecast Targeting

w9741 Michael C. Davis
James D. Hamilton

Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices

w9712 Jaap H. Abbring
Jeffrey R. Campbell

A Structural Empirical Model of Firm Growth, Learning, and Survival

w9710 Donald Morgan
Philip Strahan

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries

w9704 Donald Morgan
Bertrand Rime
Philip Strahan

Bank Integration and State Business Cycles

w9701 Chang-Tai Hsieh
Peter J. Klenow

Relative Prices and Relative Prosperity

w9682 Robert J. Barro
Rachel McCleary

Religion and Economic Growth

w9672 Stephen G. Cecchetti
Junhan Kim

Inflation Targeting, Price-Path Targeting and Output Variability

w9667 Jiri Jonas
Frederic S. Mishkin

Inflation Targeting in Transition Countries: Experience and Prospects

w9658 V. V. Chari
Patrick J. Kehoe

Financial Crises as Herds: Overturning the Critiques

w9646 Kazuo Ogawa
Financial Distress and Employment: The Japanese Case in the 90s

w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan

w9643 Joe Peek
Eric S. Rosengren

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan

w9642 Yasushi Hamao
Jianping Mei
Yexiao Xu

Idiosyncratic Risk and the Creative Destruction in Japan

w9635 Herschel I. Grossman
"Fifty-four Forty or Fight!"

w9629 Christian Gollier
Richard Zeckhauser

Collective Investment Decision Making with Heterogeneous Time Preferences

w9619 Justin Wolfers
Is Business Cycle Volatility Costly? Evidence from Surveys of Subjective Wellbeing

w9618 Joshua Aizenman
Reuven Glick

Military Expenditure, Threats, and Growth

w9608 Simeon Djankov
Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

The New Comparative Economics

w9604 Rodolfo Manuelli
Ananth Seshadri

Frictionless Technology Diffusion: The Case of Tractors

w9599 Ricardo J. Caballero
Arvind Krishnamurthy

Inflation Targeting and Sudden Stops

w9587 Andrew Leigh
Justin Wolfers
Eric Zitzewitz

What Do Financial Markets Think of War in Iraq?

w9586 Michael Hurd
Susann Rohwedder

The Retirement-Consumption Puzzle: Anticipated and Actual Declines in Spending at Retirement

w9585 John Kennan
James R. Walker

The Effect of Expected Income on Individual Migration Decisions

w9582 Raymond Fisman
Inessa Love

Financial Dependence and Growth Revisited

w9581 Baruch Lev
Suresh Radhakrishnan

The Measurement of Firm-Specific Organization Capital

w9577 Laurence Ball
Niamh Sheridan

Does Inflation Targeting Matter?

w9583 Raymond Fisman
Inessa Love

Financial Development and the Composition of Industrial Growth

w9570 Ricardo J. Caballero
On the International Financial Architecture: Insuring Emerging Markets

w9566 Alexei Onatski
Noah Williams

Modeling Model Uncertainty

w9560 Alberto Alesina
Silvia Ardagna
Giuseppe Nicoletti
Fabio Schiantarelli

Regulation and Investment

w9558 Jess Behabib
Stephanie Schmitt-Grohe
Martin Uribe

Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing, and Macroeconomic Instability

w9552 Eric M. Leeper
Jennifer E. Roush

Putting 'M' back in Monetary Policy

w9547 John Y. Campbell
George Chacko
Jorge Rodriguez
Luis M. Viciera

Strategic Asset Allocation in a Continuous-Time VAR Model

w9538 Jonathan A. Parker
Christian Julliard

Consumption Risk and Cross-Sectional Returns

w9536 Robert Shimer
The Cyclical Behavior of Equilibrium Unemployment and Vacancies: Evidence and Theory

w9526 W. Erwin Diewert
Measuring Capital

w9506 Eric M. Leeper
Fiscal Policy and Inflation: Pondering the Imponderables

w9502 Alberto Alesina
George-Marios Angeletos

Fairness and Redistribution: U.S. versus Europe

w9491 Laurence Ball
N. Gregory Mankiw
Ricardo Reis

Monetary Policy for Inattentive Economies

w9490 Jeffrey D. Sachs
Institutions Don't Rule: Direct Effects of Geography on Per Capita Income

w9486 Lars E. O. Svensson
Monetary Policy and Real Stabilization

w9462 Todd Sinai
Nicholas S. Souleles

Owner-Occupied Housing as a Hedge Against Rent Risk

w9444 Albert Ando
Dimitrios Christelis
Tsutomu Miyagawa

Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan

w9442 Francesco Caselli
Nicola Gennaioli

Dynastic Management

w9437 Robert J. Gordon
Hi-tech Innovation and Productivity Growth: Does Supply Create Its Own Demand?

w9435 Silvana Tenreyro
Robert J. Barro

Economic Effects of Currency Unions

w9421 Lars E. O. Svensson
What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules

w9420 Marc P. Giannoni
Michael Woodford

Optimal Interest-Rate Rules: II. Applications

w9419 Marc P. Giannoni
Michael Woodford

Optimal Interest-Rate Rules: I. General Theory

w9411 Alberto Alesina
Arnaud Devleeschauwer
William Easterly
Sergio Kurlat
Romain Wacziarg

Fractionalization

w9410 Dirk Krueger
Felix Kubler

Pareto Improving Social Security Reform when Financial Markets are Incomplete?

w9408 Dirk Krueger
Krishna B. Kumar

Skill-specific rather then General Education: A Reason for US-Europe Growth Differences?


2002
w9402 Aubhik Khan
Robert G. King
Alexander L. Wolman

Optimal Monetary Policy

w9391 Pierre-Olivier Gourinchas
Aaron Tornell

Exchange Rate Dynamics, Learning and Misperception

w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects

w9385 Takero Doi
Takeo Hoshi

Paying for the FILP

w9384 Anil K. Kashyap
Sorting Out Japan's Financial Crisis

w9382 Jesus Fernandez-Villaverde
Dirk Krueger

Consumption over the Life Cycle: Facts from Consumer Expenditure Survey Data

w9381 Ricardo J. Caballero
Mohamad L. Hammour

Speculative Growth

w9378 Daron Acemoglu
Simon Johnson
James Robinson

The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth

w9377 Daron Acemoglu
Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics

w9375 N. Gregory Mankiw
Ricardo Reis

What Measure of Inflation Should a Central Bank Target?

w9374 Casey B. Mulligan
Capital Tax Incidence: First Impressions from the Time Series

w9373 Casey B. Mulligan
Capital, Interest, and Aggregate Intertemporal Substitution

w9370 V. V. Chari
Patrick J. Kehoe

Time Consistency and Free-Riding in a Monetary Union

w9367 Robert Dekle
The Deteriorating Fiscal Situation and an Aging Population

w9366 Mark Hugget
Gustavo Ventura
Amir Yaron

Human Capital and Earnings Distribution Dynamics

w9364 Joao Gomes
Amir Yaron
Lu Zhang

Asset Prices and Business Cycles with Costly External Finance

w9361 William D. Nordhaus
The Economic Consequences of a War in Iraq

w9356 Melvin Stephens Jr.
Paycheck Receipt and the Timing of Consumption

w9349 Wouter J. DenHaan
Temporary Shocks and Unavoidable Transistions to a High-Unemployment Regime

w9348 Jeeman Jung
Robert J. Shiller

One Simple Test of Samuelson's Dictum for the Stock Market

w9345 Maurice Obstfeld
Alan M. Taylor

Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31

w9333 Peter L. Rousseau
Historical Perspectives on Financial Development and Economic Growth

w9331 Steven J. Davis
Felix Kubler
Paul Willen

Borrowing Costs and the Demand for Equity Over the Life Cycle

w9325 Charles I. Jones
Why Have Health Expenditures as a Share fo GDP Risen So Much?

w9320 Julio J. Rotemberg
Customer Anger at Price Increases, Time Variation in the Frequency of Price Changes and Monetary Policy

w9308 Matthew D. Shapiro
Joel Slemrod

Did the 2001 Tax Rebate Stimulate Spending? Evidence from Taxpayer Surveys

w9306 Alan Auerbach
Is There a Role for Discretionary Fiscal Policy?

w9297 Stanley Fischer
Financial Crises and Reform of the International Financial System

w9294 Martin Uribe
Real Exchange Rate Targeting and Macroeconomic Instability

w9292 Jonathan Heathcote
Fabrizio Perri

Financial Globalization and Real Regionalization

w9291 Frederic S. Mishkin
The Role of Output Stabilization in the Conduct of Monetary Policy

w9284 Edward L. Glaeser
Jesse M. Shapiro

The Benefits of the Home Mortgage Interest Deduction

w9279 Boyan Jovanovic
Peter L. Rousseau

Mergers as Reallocation

w9276 Barry Eichengreen
Still Fettered After All These Years

w9274 Christina D. Romer
David H. Romer

The Evolution of Economic Understanding and Postwar Stabilization Policy

w9272 Sung-Bae Mun
M. Ishaq Nadiri

Information Technology Externalities: Empirical Evidence from 42 U.S. Industries

w9270 Stephanie Schmitt-Grohe
Martin Uribe

Closing Small Open Economy Models

w9269 Philippe Aghion
Nicholas Bloom
Richard Blundell
Rachel Griffith
Peter Howitt

Competition and Innovation: An Inverted U Relationship

w9261 George J. Hall
Exchange Rates and Casualties During the First World War

w9259 Stanley L Engerman
Kenneth L. Sokoloff

Factor Endowments, Inequality, and Paths of Development Among New World Economics

w9235 Laurence Ball
Short-Run Money Demand

w9234 Raquel Fernandez
Alessandra Fogli
Claudia Olivetti

Marrying Your Mom: Preference Transmission and Women's Labor and Education Choices

w9221 Martin Uribe
A Fiscal Theory of Sovereign Risk

w9220 Stephanie Schmitt-Grohe
Martin Uribe

Optimal Fiscal and Monetary Policy Under Sticky Prices

w9218 Bennett T. McCallum
Consistent Expectations, Rational Expectations, Multiple-Solution Indeterminacies, and Least-Squares Learnability

w9210 Andrew B. Abel
The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

w9208 Chang-Tai Hsieh
Enrico Moretti

Can Free Entry be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry

w9203 Martin Feldstein
The Role for Discretionary Fiscal Policy in a Low Interest Rate Environment

w9202 Dirk Krueger
Fabrizio Perri

Does Income Inequality Lead to Consumption Inequality? Evidence and Theory

w9150 Edward L. Glaeser
Andrei Shleifer

The Injustice of Inequality

w9196 Jonathan Parker
Bruce Preston

Precautionary Saving and Consumption Fluctuations

w9194 James J. Heckman
Flexibility and Job Creation: Lessons for Germany

w9192 Eric M. Leeper
Tao Zha

Modest Policy Interventions

w9191 Daron Acemoglu
Philippe Aghion
Fabrizio Zilibotti

Vertical Integration and Distance to Frontier

w9187 Joel Slemrod
Trust in Public Finance

w9178 John H. Cochrane
Monika Piazzesi

Bond Risk Premia

w9132 Alan J. Auerbach
Kevin A. Hassett

Optimal Long-Run Fiscal Policy: Constraints, Preferences and the Resolution of Uncertainty

w9127 James H. Stock
Mark W. Watson

Has the Business Cycle Changed and Why?

w9124 Daron Acemoglu
Simon Johnson
James Robinson
Yunyong Thaicharoen

Institutional Causes, Macroeconomic Symptoms: Volatility, Crises and Growth

w9120 Lucia Foster
John Haltiwanger
C.J. Krizan

The Link Between Aggregate and Micro Productivity Growth: Evidence from Retail Trade

w9118 Maurice Obstfeld
Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics

w9106 William Easterly
Ross Levine

Tropics, Germs, and Crops: How Endowments Influence Economic Development

w9104 Peter Howitt
David Mayer-Foulkes

R&D, Implementation and Stagnation: A Schumpeterian Theory of Convergence Clubs

w9100 Hali J. Edison
Michael W. Klein
Luca Ricci
Torsten Sloek

Capital Account Liberalization and Economic Performance: Survey and Synthesis

w9084 David B. Gordon
Eric M. Leeper

The Price Level, the Quantity Theory of Money, and the Fiscal Theory of the Price Level

w9077 Patrick J. Kehoe
Fabrizio Perri

Competitive Equilibria With Limited Enforcement

w9072 Alberto Alesina
Robert J. Barro
Silvana Tenreyro

Optimal Currency Areas

w9069 Mark Bils
Peter J. Klenow

Some Evidence on the Importance of Sticky Prices

w9066 Daron Acemoglu
Philippe Aghion
Fabrizio Zilibotti

Distance to Frontier, Selection, and Economic Growth

w9065 John F. Helliwell
How's Life? Combining Individual and National Variables to Explain Subjective Well-Being

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

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

w9006 Philippe Aghion
Alberto Alesina
Francesco Trebbi

Endogenous Political Institutions

w9005 Lawrence J. Christiano
Christopher Gust
Jorge Roldos

Monetary Policy in a Financial Crisis

w8992 Frederic S. Mishkin
Eugene N. White

U.S. Stock Market Crashes and Their Aftermath: Implications for Monetary Policy

w8987 John H. Cochrane
Stocks as Money: Convenience Yield and the Tech-Stock Bubble

w8972 Benjamin M. Friedman
The Use and Meaning of Words in Central Banking: Inflation Targeting, Credibility, and Transparency

w8966 Michael D. Bordo
Olivier Jeanne

Boom-Busts in Asset Prices, Economic Instability, and Monetary Policy

w8953 Michael Kremer
Seema Jayachandran

Odious Debt

w8951 Robert J. Barro
Jong-Wha Lee

IMF Programs: Who is Chosen and What Are the Effects?

w8948 Nathan D. Grawe
Casey B. Mulligan

Economic Interpretations of Intergenerational Correlations

w8941 Russell W. Cooper
Estimation and Identification of Structural Parameters in the Presence of Multiple Equilibria

w8940 Laurence Ball
N. Gregory Mankiw

The NAIRU in Theory and Practice

w8938 William D. Nordhaus
The Mildest Recession: Output, Profits, and Stock Prices as the U.S. Emerges from the 2001 Recession

w8937 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Shortages and Banking Crises

w8933 Xavier Sala-i-Martin
The World Distribution of Income (estimated from Individual Country Distributions)

w8931 Robert J. Barro
Rachel M. McCleary

Religion and Political Economy in an International Panel

w8930 Stanley Fischer
Ratna Sahay
Carlos A. Vegh

Modern Hyper- and High Inflations

w8920 John Ameriks
Andrew Caplin
John Leahy

Wealth Accumulation and the Propensity to Plan

w8919 Julio J. Rotemberg
Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles

w8912 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

Expectation Traps and Monetary Policy

w8907 Sean Nicholson
Nicholas S. Souleles

Physician Income Prediction Errors: Sources and Implications for Behavior

w8905 Jordi Gali
Tommaso Monacelli

Monetary Policy and Exchange Rate Volatility in a Small Open Economy

w8897 Sylvie Demurger
Jeffrey D. Sachs
Wing Thye Woo
Shuming Bao
Gene Chang
Andrew Mellinger

Geography, Economic Policy, and Regional Development in China

w8896 Annette Vissing-Jorgensen
Limited Asset Market Participation and the Elasticity of Intertemporal Substitution

w8892 Raphael Bergoeing
Patrick J. Kehoe
Timothy J. Kehoe
Raimundo Soto

Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s

w8889 Robert Gibbons
Lawrence F. Katz
Thomas Lemieux
Daniel Parent

Comparative Advantage, Learning, and Sectoral Wage Determination

w8882 Christian Jensen
Bennett C. McCallum

The Non-Optimality of Proposed Monetary Policy Rules Under Timeless-Perspective Commitment

w8865 Steinar Holden
The Costs of Price Stability - Downward Nominal Wage Rigidity in Europe

w8850 Jordi Gali
Mark Gertler
J. David Lopez-Salido

Markups, Gaps, and the Welfare Costs of Business Fluctuations

w8849 Robert E. Hall
Industry Dynamics with Adjustment Costs

w8839 John H. Cochrane
Monika Piazzesi

The Fed and Interest Rates: A High-Frequency Identification

w8832 Daron Acemoglu
Cross-Country Inequality Trends

w8831 Daron Acemoglu
James A. Robinson

Economic Backwardness in Political Perspective

w8823 Yoshiaki Azuma
Herschel I. Grossman

A Theory of the Informal Sector

w8818 William D. Nordhaus
The Health of Nations: The Contribution of Improved Health to Living Standards

w8801 David Card
Richard B. Freeman

What Have Two Decades of British Economic Reform Delivered?

w8800 Christina D. Romer
David H. Romer

A Rehabilitation of Monetary Policy in the 1950s

w8785 Laurence Ball
Robert Tchaidze

The Fed and the New 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

w8771 Robert J. Gordon
Technology and Economic Performance in the American Economy

w8768 Jordi Gali
J. David Lopez-Salido
Javier Valles

Technology Shocks and Monetary Policy: Assessing the Fed's Performance

w8767 Jordi Gali
New Perspectives on Monetary Policy, Inflation, and the Business Cycle

w8758 Ricardo J. Caballero
Arvind Krishnamurthy

A Dual Liquidity Model for Emerging Markets

w8748 Ariel Burstein
Martin Eichenbaum
Sergio Rebelo

Why Are Rates of Inflation So Low After Large Devaluations?

w8742 Sebnem Kalemli-Ozcan
David N. Weil

Mortality Change, the Uncertainty Effect, and Retirement

w8740 Boyan Jovanovic
Peter L. Rousseau

The Q-Theory of Mergers

w8736 Victor Zarnowitz
Ataman Ozyildirim

Time Series Decomposition and Measurement of Business Cycles, Trends and Growth Cycles

w8735 John Ameriks
Andrew Caplin
John Leahy

Retirement Consumption: Insights from a Survey

w8733 Herschel I. Grossman
Constitution or Conflict?

w8726 Neville Francis
Valerie A. Ramey

Is the Technology-Driven Real Business Cycle Hypothesis Dead?

w8722 Andrew Atkeson
Patrick J. Kehoe

Measuring Organization Capital

w8714 David E. Bloom
David Canning
Jaypee Sevilla

The Wealth of Nations: Fundamental Forces Versus Poverty Traps

w8713 David E. Bloom
David Canning
Jaypee Sevilla

Technological Diffusion, Conditional Convergence, and Economic Growth

w8712 David Hummels
Peter J. Klenow

The Variety and Quality of a Nation's Trade


2001
w8696 Edward L. Glaeser
Jesse M. Shapiro

Cities and Warfare: The Impact of Terrorism on Urban Form

w8681 Andrew Atkeson
Patrick J. Kehoe

The Advantage of Transparent Instruments of Monetary Policy

w8676 Andrew Atkeson
Patrick J. Kehoe

The Transition to a New Economy After the Second Industrial Revolution

w8674 Michael Woodford
Monetary Policy in the Information Economy

w8673 Michael Woodford
Imperfect Common Knowledge and the Effects of Monetary Policy

w8672 Matthew D. Shapiro
Joel Slemrod

Consumer Response to Tax Rebates

w8649 Andrew B. Abel
On the Invariance of the Rate of Return to Convex Adjustment Costs

w8647 Alberto Alesina
Ignazio Angeloni
Ludger Schuknecht

What Does the European Union Do?

w8646 Alberto Alesina
Ignazio Angeloni
Federico Etro

Institutional Rules for Federations

w8645 Alberto Alesina
Ignazio Angeloni
Federico Etro

The Political Economy of International Unions

w8635 Andrew B. Abel
On the Invariance of the Rate of Return to Convex Adjustment Costs

w8623 Ellen R. McGrattan
Edward C. Prescott

Taxes, Regulations, and Asset Prices

w8622 Ellen R. McGrattan
Edward C. Prescott

The Stock Market Crash of 1929: Irving Fisher Was Right!

w8617 Frederic S. Mishkin
The Transmission Mechanism and the Role of Asset Prices in Monetary Policy

w8614 N. Gregory Mankiw
Ricardo Reis

Sticky Information: A Model of Monetary Nonneutrality and Structural Slumps

w8613 Edward L. Glaeser
Public Ownership in the American City

w8606 Karl E. Case
Robert J. Shiller
John M. Quigley

Comparing Wealth Effects: The Stock Market Versus the Housing Market

w8604 Richard Clarida
Jordi Gali
Mark Gertler

Optimal Monetary Policy in Closed versus Open Economies: An Integrated Approach

w8600 Tilak Abeysinghe
Kristin J. Forbes

Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia

w8598 Edward L. Glaeser
Joseph Gyourko

Urban Decline and Durable Housing

w8591 Joydeep Bhattacharya
Casey B. Mulligan
Robert R. Reed III

Labor Market Search and Optimal Retirement Policy

w8590 Casey B. Mulligan
Charles G. Hunter

The Empirical Frequency of a Pivotal Vote

w8580 Raquel Fernandez
Nezih Guner
John Knowles

Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality

w8558 Jeffrey R. Campbell
Beverly Lapham

Real Exchange Rate Fluctuations and the Dynamics of Retail Trade Industries on the U.S.-Canada Border

w8539 Lawrence J. Christiano
Massimo Rostagno

Money Growth Monitoring and the Taylor Rule

w8536 Sean Nicholson
Nicholas S. Souleles

Physician Income Expectations and Specialty Choice

w8532 Francesco Caselli
Massimo Morelli

Bad Politicians

w8530 Alwyn Young
Demographic Fluctuations, Generational Welfare and Intergenerational Transfers

w8527 Russell W. Cooper
Jonathan L. Willis

The Economics of Labor Adjustment: Mind the Gap

w8526 Giuseppe Bertola
Francine D. Blau
Lawrence M. Kahn

Comparative Analysis of Labor Market Outcomes: Lessons for the US from International Long-Run Evidence

w8520 Raphael Bergoeing
Patrick J. Kehoe
Timothy J. Kehoe
Raimundo Soto

A Decade Lost and Found: Mexico and Chile in the 1980s

w8518 Donald R. Davis
David E. Weinstein

Market Size, Linkages, and Productivity: A Study of Japanese Regions

w8517 Donald R. Davis
David E. Weinstein

Bones, Bombs and Break Points: The Geography of Economic Activity

w8513 Katharine G. Abraham
Robert Shimer

Changes in Unemployment Duration and Labor Force Attachment

w8512 Stanley L. Engerman
Kenneth L. Sokoloff

The Evolution of Suffrage Institutions in the New World

w8501 Robert Shimer
The Assignment of Workers to Jobs In an Economy with Coordination Frictions

w8496 Christopher D. Carroll
Miles S. Kimball

Liquidity Constraints and Precautionary Saving

w8488 Douglas W. Elmendorf
Jeffrey B. Liebman
David W. Wilcox

Fiscal Policy and Social Security 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

w8471 N. Gregory Mankiw
U.S. Monetary Policy During the 1990s

w8463 Wouter Den Haan
Christian Haefke
Garey Ramey

Shocks and Institutions in a Job Matching Model

w8460 Daron Acemoglu
Simon Johnson
James A. Robinson

Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution

w8434 Steven J. Davis
The Quality Distribution of Jobs and the Structure of Wages in Search Equilibrium

w8430 Robert H. McGuckin
Ataman Ozyildirim
Victor Zarnowitz

The Composite Index of Leading Economic Indicators: How to Make It More Timely

w8428 Ricardo Caballero
Arvind Krishnamurthy

A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems

w8427 Ricardo Caballero
Arvind Krishnamurthy

Smoothing Sudden Stops

w8426 Robert Barsky
Mark Bergen
Shantanu Dutta
Daniel Levy

What Can the Price Gap between Branded and Private Label Products Tell Us about Markups?

w8423 Marvin Goodfriend
Robert G. King

The Case for Price Stability

w8421 Laurence Ball
Robert Moffitt

Productivity Growth and the Phillips Curve

w8410 Nicholas S. Souleles
Consumer Sentiment: Its Rationality and Usefulness in Forecasting Expenditure - Evidence from the Michigan Micro Data

w8409 David B. Gross
Nicholas S. Souleles

An Empirical Analysis of Personal Bankruptcy and Delinquency

w8407 Michael Dotsey
Robert G. King

Pricing, Production and Persistence

w8403 Lawrence J. Christiano
Martin Eichenbaum
Charles Evans

Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy

w8392 Marianne Baxter
Dorsey Farr

Variable Factor Utilization and International Business Cycles

w8390 Osmel Manzano
Roberto Rigobon

Resource Curse or Debt Overhang?

w8379 Ben S. Bernanke
Jean Boivin

Monetary Policy in a Data-Rich Environment

w8377 Raquel Fernandez
Education, Segregation and Marital Sorting: Theory and an Application to UK Data

w8369 Maurice Obstfeld
International Macroeconomics: Beyond the Mundell-Fleming Model

w8365 Ben S. Bernanke
Refet S. Gurkaynak

Is Growth Exogenous? Taking Mankiw, Romer and Weil Seriously

w8360 Fernando Alvarez
Urban J. Jermann

The Size of the Permanent Component of Asset Pricing Kernels

w8359 Susanto Basu
John G. Fernald
Matthew D. Shapiro

Productivity Growth in the 1990s: Technology, Utilization, or Adjustment?

w8330 Robert J. Barro
Economic Growth in East Asia Before and After the Financial Crisis

w8320 Douglas Staiger
James H. Stock
Mark W. Watson

Prices, Wages and the U.S. NAIRU in the 1990s

w8296 Kala Krishna
Cemile Yavas

Lumpy Consumer Durables, Market Power, and Endogenous Business Cycles

w8290 N. Gregory Mankiw
Ricardo Reis

Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve

w8287 Daron Acemoglu
Directed Technical Change

w8277 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

On the Fiscal Implications of Twin Crises

w8270 Laurence Ball
N. Gregory Mankiw

Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design

w8257 Michael Kremer
Benjamin A. Olken

A Biological Model of Unions

w8255 Lars E.O. Svensson
Michael Woodford

Indicator Variables for Optimal Policy under Asymmetric Information

w8250 Michael Kremer
Alexei Onatski
James Stock

Searching for Prosperity

w8245 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Does Financial Liberalization Spur Growth?

w8243 Martin N. Baily
Robert Lawrence

Do We Have A New E-Conomy?

w8226 Bennett T. McCallum
Should Monetary Policy Respond Strongly to Output Gaps?

w8225 Bennett T. McCallum
Inflation Targeting and the Liquidity Trap

w8221 John Y. Campbell
Robert J. Shiller

Valuation Ratios and the Long-Run Stock Market Outlook: An Update

w8219 Olivier Blanchard
Augustin Landier

The Perverse Effects of Partial Labor Market Reform: Fixed Duration Contracts in France

w8218 Jordi Gali
Mark Gertler
J. David Lopez-Salido

European Inflation Dynamics

w8206 Yoshiaki Azuma
Herschel I. Grossman

Educational Inequality

w8192 Edward E. Leamer
The Life Cycle of US Economic Expansions

w8182 Russell Cooper
Joao Ejarque

Exhuming Q: Market Power vs. Capital Market Imperfections

w8180 James H. Stock
Mark W. Watson

Forecasting Output and Inflation: The Role of Asset Prices

w8175 Bennett T. McCallum
Edward Nelson

Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices

w8174 Bennett T. McCallum
Monetary Policy Analysis in Models Without Money

w8159 Casey B. Mulligan
Aggregate Implications of Indivisible Labor

w8141 Ricardo J. Caballero
Arvind Krishnamurthy

International Liquidity Illusion: On the Risks of Sterilization

w8139 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

How Severe is the Time Inconsistency Problem in Monetary Policy?

w8131 Andrew B. Abel
Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?

w8120 Olivier Blanchard
Francesco Giavazzi

Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets

w8119 Jeffrey D. Sachs
Tropical Underdevelopment

w8117 Edward L. Glaeser
Matthew E. Kahn

Decentralized Employment and the Transformation of the American City

w8114 John W. McArthur
Jeffrey D. Sachs

Institutions and Geography: Comment on Acemoglu, Johnson and Robinson (2000)

w8113 Chang-Tai Hsieh
Christina D. Romer

Was the Federal Reserve Fettered? Devaluation Expectations in the 1932 Monetary Expansion

w8109 Herschel I. Grossman
Juan Mendoza

Annexation or Conquest? The Economics of Empire Building

w8107 Pierre-Olivier Gourinchas
Jonathan A. Parker

The Empirical Importance of Precautionary Saving

w8104 Aart Kraay
Jaume Ventura

Comparative Advantage and the Cross-section of Business Cycles

w8097 William D. Nordhaus
New Data and Output Concepts for Understanding Productivity Trends

w8096 William D. Nordhaus
Productivity Growth and the New Economy

w8095 William D. Nordhaus
Alternative Methods for Measuring Productivity Growth

w8077 Ellen R. McGrattan
Edward C. Prescott

Is the Stock Market Overvalued?

w8072 Michael Woodford
Fiscal Requirements for Price Stability

w8071 Michael Woodford
Inflation Stabilization and Welfare


2000
w8053 Edward L. Glaeser
Jose Scheinkman

Non-Market Interactions

w8043 Robert J. Barro
Silvana Tenreyro

Closed and Open Economy Models of Business Cycles with Marked Up and Sticky Prices

w8041 William A. Brock
Steven N.Durlauf

Growth Economics and Reality

w8040 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

The Welfare Cost of Business Cycles Revisited: Finite Lives and Cyclical Variation in Idiosyncratic Risk

w8033 Albert Ando
On the Japanese Economy and Japanese National Accounts

w8030 Christopher L. House
John V. Leahy

An sS Model with Adverse Selection

w8023 Michael J. Boskin
Lawrence J. Lau

Generalized Solow-Neutral Technical Progress and Postwar Economic Growth

w8022 Rodolfo E. Manuelli
Technological Change, the Labor Market and the Stock Market

w7995 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

Consumption and Risk Sharing Over the Life Cycle

w7981 Judith A. Chevalier
Anil K. Kashyap
Peter E. Rossi

Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data

w7988 Laurence Ball
Near-Rationality and Inflation in Two Monetary Regimes

w7978 Fernando Alvarez
Urban J. Jermann

Using Asset Prices to Measure the Cost of Business Cycles

w7971 Ricardo Caballero
Arvind Krishnamurthy

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

w7954 James D. Hamilton
Dong Heon Kim

A Re-examination of the Predictability of Economic Activity Using the Yield Spread

w7953 Lars E.O. Svensson
Michael Woodford

Indicator Variables for Optimal Policy

w7940 Susanto Basu
John Fernald

Why Is Productivity Procyclical? Why Do We Care?

w7936 Jeffrey R. Campbell
Jonas D.M.Fisher

Idiosyncratic Risk and Aggregate Employment Dynamics

w7925 Russell W. Cooper
John C. Haltiwanger

On the Nature of Capital Adjustment Costs

w7916 Bennett T. McCallum
The Present and Future of Monetary Policy Rules

w7915 Bennett T. McCallum
Edward Nelson

Timeless Perspectives vs. Discretionary Monetary Policy In Forward-Looking Models

w7912 Patric H. Hendershott
Bryan D. MacGregor
Raymond Y.C. Tse

Estimating the Rental Adjustment Process

w7911 Robert J. Barro
Jong-Wha Lee

International Data on Educational Attainment Updates and Implications

w7910 Laurence Ball
Policy Rules and External Shocks

w7908 Miguel Casares
Bennett T. McCallum

An Optimizing IS-LM Framework with Endogenous Investment

w7906 Karen E. Dynan
Jonathan Skinner
Stephen P. Zeldes

Do the Rich Save More?

w7904 Francesco Caselli
Wilbur John Coleman II

The World Technology Frontier

w7898 Herschel I. Grossman
Inventors and Pirates: Creative Activity and Intellectual Property Rights

w7897 Herschel I. Grossman
The Creation of Effective Property Rights

w7894 William M. Gentry
R. Glenn Hubbard

Entrepreneurship and Household Saving

w7884 N. Gregory Mankiw
The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment

w7879 David Laibson
Andrea Repetto
Jeremy Tobacman

A Debt Puzzle

w7871 Fernando Alvarez
Andrew Atkeson
Patrick J. Kehoe

Money, Interest Rates, and Exchange Rates with Endogenously Segmented Asset Markets

w7870 Patrick J. Kehoe
Fabrizio Perri

International Business Cycles with Endogenous Incomplete Markets

w7869 V.V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?

w7862 Ariel T. Burstein
Joao C. Neves
Sergio Rebelo

Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based-Stabilizations

w7856 Alwyn Young
Gold into Base Metals: Productivity Growth in the People's Republic of China during the Reform Period

w7853 Michael Woodford
Monetary Policy in a World Without Money

w7849 Ricardo J. Caballero
Mohamad L. Hammour

Creative Destruction and Development: Institutions, Crises, and Restructuring

w7847 James D. Hamilton
Oscar Jorda

A Model for the Federal Funds Rate Target

w7833 Robert J. Gordon
Does the "New Economy" Measure up to the Great Inventions of the Past?

w7828 Alwyn Young
The Razor's Edge: Distortions and Incremental Reform in the People's Republic of China

w7618 Frederic S. Mishkin
Inflation Targeting in Emerging Market Countries

w7809 Lawrence J. Christiano
Christopher J. Gust

The Expectations Trap Hypothesis

w7800 Daron Acemoglu
Technical Change, Inequality, and the Labor Market

w7799 George J. Borjas
Valerie A. Ramey

Market Responses to Interindustry Wage Differentials

w7796 Steven J. Davis
Jeremy Nalewaik
Paul Willen

On the Gains to International Trade in Risky Financial Assets

w7793 Abhijit V. Banerjee
Esther Duflo

Inequality and Growth: What Can the Data Say?

w7792 Ricardo J. Caballero
Arvind Krishnamurthy

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

w7790 Ed Glaeser
Jed Kolko
Albert Saiz

Consumer City

w7788 Aart Kraay
Jaume Ventura

Product Prices and the OECD Cycle

w7787 Robert W. Fogel
Simon S. Kuznets: April 30, 1901-July 9, 1985

w7785 Jerome Adda
Russell Cooper

The Dynamics of Car Sales: A Discrete Choice Approach

w7782 Ricardo J. Caballero
Macroeconomic Volatility in Latin America: A View and Three Case Studies

w7777 Maurice Obstfeld
Kenneth Rogoff

The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?

w7771 Daron Acemoglu
Simon Johnson
James A. Robinson

The Colonial Origins of Comparative Development: An Empirical Investigation

w7759 Robert J. Gordon
The Boskin Commission Report and its Aftermath

w7755 James D. Hamilton
What is an Oil Shock?

w7752 Robert J. Gordon
Interpreting the "One Big Wave" in U.S. Long-Term Productivity Growth

w7750 Gernot Doppelhofer
Ronald I. Miller
Xavier Sala-i-Martin

Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

w7740 Ricardo J. Caballero
Arvind Krishnamurthy

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

w7739 Andrew B. Abel
The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks

w7725 Bennett T. McCallum
Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan

w6675 Bennett T. McCallum
Edward Nelson

Nominal Income Targeting in an Open-Economy Optimizing Model

w7721 Victor Zarnowitz
The Old and the New in U.S. Economic Expansion of the 1990s

w7720 Ricardo J. Caballero
Mohamad L. Hammour

Institutions, Restructuring, and Macroeconomic Performance

w7695 Mark Bils
Peter J. Klenow

Quantifying Quality Growth

w7694 Orazio Attanasio
Pinelopi K. Goldberg
Ekaterini Kyriazidou

Credit Constraints in the Market for Consumer Durables: Evidence from Micro Data on Car Loans

w7680 Casey B. Mulligan
Can Monopoly Unionism Explain Publicly Induced Retirement?

w7677 Bennett T. McCallum
Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates

w7675 Marvin J. Barth III
Valerie A. Ramey

The Cost Channel of Monetary Transmission

w7672 John V. Leahy
Joseph Zeira

The Timing of Purchases and Aggregate Fluctuations

w7668 Lawrence J. Christiano
Terry J. Fitzgerald

Understanding the Fiscal Theory of the Price Level

w7664 Stanley Fischer
Ratna Sahay

The Transition Economies After Ten Years

w7662 Alan J. Auerbach
Daniel Feenberg

The Significance of Federal Taxes as Automatic Stabilizers

w7647 Benjamin M. Friedman
What Have We Learned from the Reagan Deficits and Their Disappearance?

w7633 Larry Jones
Rodolfo Manuelli
Henry Siu

Growth and Business Cycles

w6767 Gerardo della Paolera
Alan M. Taylor

Economic Recovery from the Argentine Great Depression: Institutions, Expectations, and the Change of Macroeconomic Regime

w7617 Frederic S. Mishkin
Miguel A. Savastano

Monetary Policy Strategies for Latin America

w7607 Russell W. Cooper
Hubert Kempf

Designing Stabilization Policy in a Monetary Union

w7591 Alan B. Krueger
Mikael Lindahl

Education for Growth: Why and For Whom?

w7590 John Y. Campbell
Martin Lettau
Burton G. Malkiel
Yexiao Xu

Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk

w7589 John Y. Campbell
Asset Pricing at the Millennium

w7575 Michael Kremer
Paras Mehta

Globalization and International Public Finance

w7087 Bennett T. McCallum
Role of the Minimal State Variable Criterion

w7571 N. Gregory Mankiw
The Savers-Spenders Theory of Fiscal Policy

w7559 Ben Bernanke
Mark Gertler

Monetary Policy and Asset Price Volatility

w7551 Jordi Gali
Mark Gertler

Inflation Dynamics: A Structural Econometric Analysis

w7550 Olivier Blanchard
What do we know about Macroeconomics that Fisher and Wicksell did not?

w7549 Mark Gertler
Cara S. Lown

The Information in the High Yield Bond Spread for the Business Cycle: Evidence and Some Implications

w7544 Daron Acemoglu
Labor- and Capital- Augmenting Technical Change

w7541 Desmond McCarthy
Holger Wolf
Yi Wu

The Growth Costs of Malaria

w7540 Dani Rodrik
Institutions for High-Quality Growth: What They are and How to Acquire Them

w7534 Robert G. King
Sergio T. Rebelo

Resuscitating Real Business Cycles

w7530 Michael Kremer
Daniel Chen

Income-distribution Dynamics with Endogenous Fertility

w7515 Craig Burnside
Martin Eichenbaum
Jonas D.M. Fisher

Fiscal Shocks in an Efficiency Wage Model

w7508 Raquel Fernandez
Richard Rogerson

Sorting and Long-Run Inequality

w7503 J. Vernon Henderson
The Effects of Urban Concentration on Economic Growth

w7490 Alexei Onatski
James H. Stock

Robust Monetary Policy Under Model Uncertainty in a Small Model of the U.S. Economy

w7465 Timothy Dunne
John Haltiwanger
Lucia Foster

Wage and Productivity Dispersion in U.S. Manufacturing: The Role of Computer Investment

w7459 Craig Burnside
Martin Eichenbaum
Jonas D.M. Fisher

Assessing the Effects of Fiscal Shocks


1999
w7448 Peter L. Rousseau
Richard Sylla

Emerging Financial Markets and Early U.S. Growth

w7444 Daron Acemoglu
Joshua Angrist

How Large are the Social Returns to Education? Evidence from Compulsory Schooling Laws

w7439 Julio J. Rotemberg
A Heuristic Method for Extracting Smooth Trends from Economic Time Series

w7425 Brett Katzman
John Kennan
Neil Wallace

Optimal Monetary Impulse-Response Functions in a Matching Model

w7420 Benjamin M. Friedman
The Future of Monetary Policy: The Central Bank as an Army With Only a Signal Corps

w7393 Bennett T. McCallum
Theoretical Issues Pertaining to Monetary Unions

w7375 Charles I. Jones
Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run

w7358 Vernon Henderson
Marshall's Economies

w7355 Ricardo J. Caballero
Mohamad L. Hammour

The Cost of Recessions Revisited: A Reverse-Liquidationist View

w7352 Daron Acemoglu
Robert Shimer

Productivity Gains from Unemployment Insurance

w7351 Taizo Motonishi
Hirshi Yoshikawa

Causes of the Long Stagnation of Japan During the 1990s: Financial or Real?

w7350 Tamim Bayoumi
The Morning After: Explaining the Slowdown in Japanese Growth in the 1990s

w7311 Mark Bils
Yongsung Chang

Understanding How Price Responds to Costs and Production

w7310 Mark Bils
James A. Kahn

What Inventory Behavior Tells Us About Business Cycles

w7309 Mark Bils
Yongsung Chang

Wages and the Allocation of Hours and Effort

w7306 Robert Shimer
The Impact of Young Workers on the Aggregate Labor Market

w7283 Charles I. Jones
John C. Williams

Too Much of a Good Thing? The Economics of Investment in R&D

w7282 Olivier Blanchard
Justin Wolfers

The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence

w6390 Frederic S. Mishkin
International Capital Movements, Financial Volatility and Financial Instability

w7271 Pierre-Olivier Gourinchas
Jonathan A. Parker

Consumption Over the Life Cycle

w7269 Olivier Blanchard
Roberto Perotti

An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output

w7261 Michael Woodford
Optimal Monetary Policy Inertia

w7257 Lawrence J. Christiano
Terry J. Fitzgerald

The Band Pass Filter

w7238 Jonathan A. Parker
Spendthrift in America? On Two Decades of Decline in the U.S. Saving Rate

w7237 John Y. Campbell
John H. Cochrane

Explaining the Poor Performance of Consumption-Based Asset Pricing Models

w7218 Wouter J. den Haan
Garey Ramey
Joel Watson

Job Destruction and the Experiences of Displaced Workers

w7181 Robert E. Hall
Reorganization

w7180 Robert E. Hall
The Stock Market and Capital Accumulation

w7170 John H. Cochrane
Portfolio Advice for a Multifactor World

w7169 John H. Cochrane
New Facts in Finance

w7161 Alan S. Blinder
Central Bank Credibility: Why Do We Care? How Do We Build It?

w7160 Robert J. Shiller
Designing Indexed Units of Account

w6564 Robert E. Hall
Charles I. Jones

Why Do Some Countries Produce So Much More Output per Worker than Others?

w7147 Richard Clarida
Jordi Gali
Mark Gertler

The Science of Monetary Policy: A New Keynesian Perspective

w7146 Jeffrey G. Williamson
The Impact of Globalization on Pre-Industrial, Technologically Quiescent Economies

w7145 William J. Collins
Jeffrey G. Williamson

Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950

w7143 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Hedging and Financial Fragility in Fixed Exchange Rate Regimes

w7132 Roland Benabou
Tax and Education Policy in a Heterogeneous Agent Economy: What Levels f Redistribution Maximize Growth and Efficiency?

w7103 Peter Diamond
Jean Geanakoplos

Social Security Investment in Equities I: Linear Case

w7095 Steven J. Davis
John Haltiwanger

Sectoral Job Creation and Destruction Responses to Oil Price Changes

w7090 Susanto Basu
Alan M. Taylor

Business Cycles in International Historical Perspective

w7088 Bennett T. McCallum
Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

w7072 Larry E. Jones
Rodolfo E. Manuelli

Volatile Policy and Private Information: The Case of Monetary Policy

w7063 Larry E. Jones
Rodolfo E. Manuelli
Ennio Stacchetti

Technology (and Policy) Shocks in Models of Endogenous Growth

w6367 Victor Zarnowitz
Has the Business Cycle Been Abolished?

w6283 Valerie A. Ramey
Matthew D. Shapiro

Costly Capital Reallocation and the Effects of Government Spending

w7060 Fernando Alvarez
Andrew Atkeson
Patrick J. Kehoe

Money and Interest Rates with Endogeneously Segmented Markets

w7057 Wouter den Haan
Garey Ramey
Joel Watson

Liquidity Flows and Fragility of Business Enterprises

w7046 Marianne Baxter
Urban J. Jermann

Household Production and the Excess Sensitivity of Consumption to Current Income

w7038 Robert J. Barro
Inequality, Growth, and Investment

w7036 Alan J. Auerbach
Kevin A. Hassett

Uncertainty and the Design of Long-Run Fiscal Policy

w7029 John Y. Campbell
Joao F. Cocco
Francisco J. Gomes
Pascal J. Maenhout

Investing Retirement Wealth: A Life-Cycle Model

w7027 Lawrence J. Christiano
Robert J. Vigfusson

Maximum Likelihood in the Frequency Domain: A Time to Build Example

w7025 Robert E. Hall
The Concentration of Job Destruction

w7023 James H. Stock
Mark W. Watson

Forecasting Inflation

w7017 Lawrence J. Christiano
Christopher J. Gust

Taylor Rules in a Limited Participation Model

w7011 Marjorie Flavin
Robust Estimation of the Joint Consumption / Asset Demand Decision

w7010 Victor Zarnowitz
Theory and History Behind Business Cycles: Are the 1990s the Onset of a Golden Age?

w6991 Andrew B. Abel
The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

w6987 Andrew Caplin
John Leahy

Durable Goods Cycles

w6973 Owen Lamont
Investment Plans and Stock Returns

w6972 Wouter J. den Haan
Garey Ramey
Joel Watson

Contract-Theoretic Approaches to Wages and Displacement

w6965 Frederic S. Mishkin
International Experiences with Different Monetary Policy Regimes

w6948 Christina D. Romer
Changes in Business Cycles: Evidence and Explanations

w6928 Francis X. Diebold
Lutz Kilian

Unit Root Tests Are Useful for Selecting Forecasting Models

w6926 Yin-Wong Cheung
Menzie D. Chinn

Are Macroeconomic Forecasts Informative? Cointegration Evidence from the ASA-NBER Surveys

w6914 Robert E. Hall
Controlling the Price Level

w6912 Robert E. Hall
Aggregate Job Destruction and Inventory Liquidation

w6909 Julio J. Rotemberg
Michael Woodford

The Cyclical Behavior of Prices and Costs

w6898 Russell Cooper
Alok Johri

Learning by Doing and Aggregate Fluctuations

w6891 V. V. Chari
Patrick J. Kehoe

Optimal Fiscal and Monetary Policy


1998
w6858 Gary D. Hansen
Edward C. Prescott

Malthus to Solow

w6828 Eduardo M.R.A. Engel
Alexander Galetovic
Claudio E. Raddatz

Taxes and Income Distribution in Chile: Some Unpleasant Redistributive Arithmetic

w6812 Simon Gilchrist
John C. Williams

Putty-Clay and Investment: A Business Cycle Analysis

w6811 Oded Galor
David N. Weil

Population, Technology, and Growth: From the Malthusian Regime to the Demographic Transition and Beyond

w6809 Jeffrey R. Campbell
Jonas D.M. Fisher

Organizational Flexibility and Employment Dynamics at Young and Old Plants

w6795 Roland Benabou
Efe A. Ok

Social Mobility and the Demand for Redistribution: The POUM Hypothesis

w6791 Russell Cooper
Hubert Kempf

Establishing a Monetary Union

w6775 Valerie A. Ramey
Matthew D. Shapiro

Displaced Capital

w6771 John H. Cochrane
Long-term Debt and Optimal Policy in the Fiscal Theory of the Price Level

w6768 John B. Taylor
An Historical Analysis of Monetary Policy Rules

w6763 John Y. Campbell
Sydney Ludvigson

Elasticities of Substitution in Real Business Cycle Models with Home Production

w6760 Laurence Ball
Policy Rules for Open Economies

w6758 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Prospective Deficits and the Asian Currency Crisis

w6754 John B. Taylor
Staggered Price and Wage Setting in Macroeconomics

w6737 Wendy Edelberg
Martin Eichenbaum
Jonas D.M. Fisher

Understanding the Effects of a Shock to Government Purchases

w6717 Ricardo J. Caballero
Mohamad L. Hammour

Improper Churn: Social Costs and Macroeconomic Consequences

w6702 James H. Stock
Mark W. Watson

Diffusion Indexes

w6700 Rui Albuquerque
Sergio Rebelo

On the Dynamics of Trade Reform

w6692 Peter Temin
The Causes of American Business Cycles: An Essay in Economic Historiography

w6663 Alwyn Young
Paasche vs. Laspeyres: The Elasticity of Substitution and Bias in Measures of TFP Growth

w6657 Alwyn Young
Alternative Estimates of Productivity Growth in the NICs: A Comment on the Findings of Chang-Tai Hsieh

w6654 Robert J. Barro
Notes on Growth Accounting

w6646 John H. Cochrane
A Frictionless View of U.S. Inflation

w6641 Robert J. Shiller
Social Security and Institutions for Intergenerational, Intragenerational, and International Risk Sharing

w6636 Olivier Blanchard
Pedro Portugal

What Hides Behind an Umemployment Rate: Comparing Portuguese and U.S. Unemployment

w6618 Julio J. Rotemberg
Michael Woodford

Interest-Rate Rules in an Estimated Sticky Price Model

w6608 Ben S. Bernanke
Ilian Mihov

The Liquidity Effect and Long-Run Neutrality

w6607 James H. Stock
Mark W. Watson

A Comparison of Linear and Nonlinear Univariate Models for Forecasting Macroeconomic Time Series

w6599 Bennett T. McCallum
Edward Nelson

Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model

w6597 Laurence Ball
Another Look at Long-Run Money Demand

w6596 Jagadeesh Gokhale
Laurence J. Kotlikoff

Medicare from the Perspective of Generational Accounting

w6593 Orazio Attanasio
Luigi Guiso
Tuillo Jappelli

The Demand for Money, Financial Innovation, and the Welfare Cost of Inflation: An Analysis with Household Data

w6567 Orazio Attanasio
James Banks
Sarah Tanner

Asset Holding and Consumption Volatility

w6566 Olivier Blanchard
Revisiting European Unemployment: Unemployment, Capital Accumulation, and Factor Prices

w6560 Orazio P. Attanasio
Tullio Jappelli

Intertemporal Choice and the Cross-Sectional Variance of Marginal Utility

w6551 Elhanan Helpman
Antonio Rangel

Adjusting to a New Technology: Experience and Training

w6528 James H. Stock
Mark W. Watson

Business Cycle Fluctuations in U.S. Macroeconomic Time Series

w6501 Robert E. Hall
Labor-Market Frictions and Employment Fluctuations

w6485 John Y. Campbell
Asset Prices, Consumption, and the Business Cycle

w6480 Atish R. Ghosh
Holger Wolf

Thresholds and Context Dependence in Growth

w6470 Douglas W. Elmendorf
N. Gregory Mankiw

Government Debt

w6466 Orazio P. Attanasio
Consumption Demand

w6456 Bennett T. McCallum
Indeterminacy, Bubbles, and the Fiscal Theory of Price Level Determination

w6455 Ben Bernanke
Mark Gertler
Simon Gilchrist

The Financial Accelerator in a Quantitative Business Cycle Framework

w6445 Julio J. Rotemberg
Cyclical Movements in Wages and Consumption in a Bargaining Model of Unemployment

w6442 Richard Clarida
Jordi Gali
Mark Gertler

Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory

w6422 Steven N. Durlauf
Danny T. Quah

The New Empirics of Economic Growth

w6420 Ricardo J. Caballero
Eduardo M.R.A. Engel

Nonlinear Aggregate Investment Dynamics: Theory and Evidence

w6403 Herschel I. Grossman
Minseong Kim

Human Capital and Predation: A Positive Theory of Educational Policy

w6400 Lawrence J. Christiano
Martin Eichenbaum
Charles L. Evans

Monetary Policy Shocks: What Have We Learned and to What End?

w6397 Dan Ben-David
Robin L. Lumsdaine
David H. Papell

Unit Roots, Postwar Slowdowns and Long-Run Growth: Evidence from Two Structural Breaks

w6393 Mark Bils
Peter J. Klenow

Does Schooling Cause Growth or the Other Way Around?

w6392 Austan Goolsbee
The Business Cycle, Financial Performance, and the Retirement of Capital Goods

w6207 John H. Cochrane
Where is the Market Going? Uncertain Facts and Novel Theories

w6150 Martin Feldstein
The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability

w6126 Frederic S. Mishkin
Adam S. Posen

Inflation Targeting: Lessons from Four Countries

w6122 Frederic S. Mishkin
Strategies for Controlling Inflation

w6389 Marjorie Flavin
Takashi Yamashita

Owner-Occupied Housing and the Composition of the Household Portfolio Over the Life-Cycle

w6371 Lawrence J. Christiano
Martin Eichenbaum
Charles L. Evans

Modeling Money

w6350 Dani Rodrik
Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses


1997
w6342 Austan Goolsbee
David B. Gross

Estimating Adjustment Costs with Data on Heterogeneous Capital Goods

w6317 Robert J. Barro
Myopia and Inconsistency in the Neoclassical Growth Model

w6315 Valerie A. Ramey
Kenneth D. West

Inventories

w6298 Christopher D. Carroll
Death to the Log-Linearized Consumption Euler Equation! (And Very Poor Health to the Second-Order Approximation)

w6291 Bennett T. McCallum
The Alleged Instability of Nominal Income Targeting

w6290 Francis X. Diebold
The Past, Present, and Future of Macroeconomic Forecasting

w6289 Herschel I. Grossman
"Make Us a King": Anarchy, Predation, and the State

w6288 Joshua L. Rosenbloom
William A. Sundstrom

The Sources of Regional Variation in the Severity of the Great Depression: Evidence from U.S. Manufacturing, 1919-1937

w6285 Charles I. Jones
Population and Ideas: A Theory of Endogenous Growth

w6284 Charles I. Jones
The Upcoming Slowdown in U.S. Economic Growth

w6275 Wouter J. den Haan
Garey Ramey
Joel Watson

Job Destruction and Propagation of Shocks

w6268 David E. Bloom
Jeffrey G. Williamson

Demographic Transitions and Economic Miracles in Emerging Asia

w6267 Dan Ben-David
Convergence Clubs and Subsistence Economies

w6266 Dan Ben-David
David H. Papell

Slowdowns and Meltdowns: Postwar Growth Evidence from 74 Countries

w6264 Ricardo J. Caballero
Aggregate Investment

w6254 Richard Clarida
Jordi Gali
Mark Gertler

Monetary Policy Rules in Practice: Some International Evidence

w6252 Xavier X. Sala-i-Martin
I Just Ran Four Million Regressions

w6230 Victor Zarnowitz
Business Cycles Observed and Assessed: Why and How They Matter

w6228 Francis X. Diebold
Anthony S. Tay
Kenneth F. Wallis

Evaluating Density Forecasts of Inflation: The Survey of Professional Forecasters

w6221 Ricardo J. Caballero
Mohamad L. Hammour

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

t0218 Lawrence J. Christiano
Jonas D.M. Fisher

Algorithms for Solving Dynamic Models with Occasionally Binding Constraints

t0217 Peter F. Christoffersen
Francis X. Diebold

Cointegration and Long-Horizon Forecasting

t0215 Francis X. Diebold
Todd A. Gunther
Anthony S. Tay

Evaluating Density Forecasts

w6200 Martin Feldstein
Capital Income Taxes and the Benefit of Price Stability

w6197 Robert J. Barro
Optimal Management of Indexed and Nominal Debt

w6188 Michael Woodford
Doing Without Money: Controlling Inflation in a Post-Monetary World

w6172 Fumio Hayashi
The Main Bank System and Corporate Investment: An Empirical Reassessment

w6168 Sergio Rebelo
What Happens When Countries Peg Their Exchange Rates? (The Real Side of Monetary Reforms)

w6163 Alberto Alesina
Enrico Spolaore
Romain Wacziarg

Economic Integration and Political Disintegration

w6161 Ben Broadbent
Michael Kremer

Does Favorable Tax-Treatment of Housing Reduce Equipment Investment?

w6159 Piyabha Kongsamut
Sergio Rebelo
Danyang Xie

Beyond Balanced Growth

w6157 Ben S. Bernanke
Michael Woodford

Inflation Forecasts and Monetary Policy

w6149 Martin Feldstein
Transition to a Fully Funded Pension System: Five Economic Issues

w6148 Andrew B. Abel
Janice C. Eberly

The Mix and Scale of Factors with Irreversibility and Fixed Costs of Investment

t0213 Francis X. Diebold
Lutz Kilian

Measuring Predictability: Theory and Macroeconomic Applications

w6117 David Romer
Misconceptions and Political Outcomes

w6094 Russell Cooper
Dean Corbae

Financial Fragility and the Great Depression

w6081 Christopher D. Carroll
Wendy E. Dunn

Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets

w6070 Ann L. Owen
David N. Weil

Intergenerational Earnings Mobility, Inequality, and Growth

w6056 Anil K Kashyap
Jeremy C. Stein

What Do a Million Banks Have to Say About the Transmission of Monetary Policy?

w6055 Martin Feldstein
Andrew Samwick

The Economics of Prefunding Social Security and Medicare Benefits

w6048 Jerome Adda
Russell Cooper

Balladurette and Juppette: A Discrete Analysis of Scrapping Subsidies

w6046 Darrel Cohen
Kevin A. Hassett
R. Glenn Hubbard

Inflation and the User Cost of Capital: Does Inflation Still Matter?

w6038 Ramon Marimon
Fabrizio Zilibotti

Unemployment vs. Mismatch of Talents: Reconsidering Unemployment Benefits

w6024 Alberto Alesina
Romain Wacziarg

Openness, Country Size and the Government

w6016 Bennett T. McCallum
Issues in the Design of Monetary Policy Rules

w6008 Duncan Black
Vernon Henderson

Urban Growth

w6005 Andrew Atkeson
Patrick Kehoe

Industry Evolution and Transition: A Neoclassical Benchmark

w5997 Herschel I. Grossman
Taejoon Han

Sovereign Debt and Consumption Smoothing

w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment

w5994 Russell W. Cooper
Business Cycles: Theory, Evidence and Implications

w5984 Robin L. Lumsdaine
Eswar S. Prasad

Identifying the Common Component in International Economic Fluctuations

w5980 Matthew D. Shapiro
David W. Wilcox

Alternative Strategies for Aggregating Prices in the CPI

w5955 Jeffrey R. Campbell
Entry, Exit, Embodied Technology, and Business Cycles

w5954 Casey B. Mulligan
Xavier X. Sala-i-Martin

The Optimum Quantity of Money: Theory and Evidence

w5952 Laurence Ball
Efficient Rules for Monetary Policy

w5951 Patrick K. Asea
S. Brock Blomberg

Lending Cycles

w5947 Sergio Rebelo
Danyang Xie

On the Optimality of Interest Rate Smoothing

w5935 Jeffrey D. Sachs
Wing Thye Woo

Understanding China's Economic Performance

w5933 Robert E. Hall
Macroeconomic Fluctuations and the Allocation of Time

w5930 Raquel Fernandez
Jordi Gali

To Each According To...? Markets, Tournaments, and the Matching Problem with Borrowing Constraints

w5922 Joao Gomes
Jeremy Greenwood
Sergio Rebelo

Equilibrium Unemployment

w5915 Susanto Basu
Miles S. Kimball

Cyclical Productivity with Unobserved Input Variation

w5914 Dani Rodrik
TFPG Controversies, Institutions, and Economic Performance in East Asia

w5893 Ben S. Bernanke
Frederic S. Mishkin

Inflation Targeting: A New Framework for Monetary Policy?

w5892 Allan Drazen
Policy Signaling in the Open Economy: A Re-Examination

w5884 Albert Ando
John Hancock
Gary Sawchuk

Cost of Capital for the United States, Japan, and Canada: An Attempt at Measurement Based on Individual Company Records and Aggregate National Acccoun

w5876 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles

w5875 Bennett T. McCallum
Edward Nelson

An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis


1996
w5865 Susanto Basu
David N. Weil

Appropriate Technology and Growth

w5857 John Y. Campbell
Luis M. Viceira

Consumption and Portfolio Decisions When Expected Returns are Time Varying

w5856 Timothy Frye
Andrei Shleifer

The Invisible Hand and the Grabbing Hand

w5849 Frederic S. Mishkin
Bank Consolidation: A Central Banker's Perspective

w5845 Arturo Estrella
Frederic S. Mishkin

Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?

w5844 Bennett T. McCallum
Neoclassical vs. Endogenous Growth Analysis: An Overview

w5828 Giuseppe Bertola
Richard Rogerson

Institutions and Labor Reallocation

w5822 Olivier Blanchard
Lawrence F. Katz

What We Know and Do Not Know About the Natural Rate of Unemployment

w5812 Robert E. Hall
Charles I. Jones

The Productivity of Nations

w5809 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?

w5804 Lawrence J. Christiano
Martin Eichenbaum
Charles L. Evans

Sticky Price and Limited Participation Models of Money: A Comparison

w5792 Wouter J. Den Haan
Understanding Equilibrium Models with a Small and a Large Number of Agents

w5788 Christopher D. Carroll
Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis

w5782 Dennis W. Carlton
A Critical Assessment of the Role of Imperfect Competition in Macroeconomics

w5775 Steven J. Davis
John Haltiwanger

On the Driving Forces Behind Cyclical Movement, in Employment and Job Reallocation

w5767 Jeffrey R. Campbell
Jonas D.M. Fisher

Aggregate Employment Fluctuations with Microeconomic Asymmetries

w5764 Ben S. Bernanke
Ilian Mihov

What Does the Bundesbank Target?

w5758 Raghuram G. Rajan
Luigi Zingales

Financial Dependence and Growth

w5757 Ricardo J. Caballero
Mohamad L. Hammour

The Macroeconomics of Specificity

w5739 Robert J. Gordon
Macroeconomic Policy in the Presence of Structural Maladjustment

t0203 Steven N. Durlauf
Statistical Mechanics Approaches to Socioeconomic Behavior

w5735 Robert J. Gordon
The Time-Varying NAIRU and its Implications for Economic Policy

w5732 Jeffrey A. Frankel
David Romer
Teresa Cyrus

Trade and Growth in East Asian Countries: Cause and Effect?

w5721 Jordi Gali
Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations

w5718 Michael Kremer
Eric Maskin

Wage Inequality and Segregation by Skill

w5704 Herschel I. Grossman
Minseong Kim

Inequality, Predation and Welfare

w5703 Lawrence J. Christiano
Sharon G. Harrison

Chaos, Sunspots, and Automatic Stabilizers

w5698 Robert J. Barro
Determinants of Economic Growth: A Cross-Country Empirical Study

w5692 Christina D. Romer
David H. Romer

Federal Reserve Private Information and the Behavior of Interest Rates

w5691 Russell Cooper
Alok Johri

Dynamic Complementarities: A Quantitative Analysis

w5684 Michael Woodford
Control of the Public Debt: A Requirement for Price Stability?

w5683 Kevin A. Hassett
R. Glenn Hubbard

Tax Policy and Investment

w5674 Michael Kremer
Charles Morcom

Elephants

w5659 George Evans
Seppo Honkapohja
Paul Romer

Growth Cycles

w5658 Roland Benabou
Inequality and Growth

w5656 Timothy Dunne
John Haltiwanger
Kenneth R. Troske

Technology and Jobs: Secular Changes and Cyclical Dynamics

t0198 James H. Stock
Jonathan Wright

Asymptotics for GMM Estimators with Weak Instruments

w5634 Julio J. Rotemberg
Michael Woodford

Imperfect Competition and the Effects of Energy Price Increases on Economic Activity

w5624 Julio J. Rotemberg
Perceptions of Equity and the Distribution of Income

w5610 John Y. Campbell
Consumption and the Stock Market: Interpreting International Experience

w5607 N. Gregory Mankiw
James M. Poterba

Stock Market Yields and the Pricing of Municipal Bonds

t0197 Wouter J. Den Haan
Andrew T. Levin

A Practitioner's Guide to Robust Covariance Matrix Estimation

w5600 Frederic S. Mishkin
Understanding Financial Crises: A Developing Country Perspective

w5597 Bennett T. McCallum
Crucial Issues Concerning Central Bank Independence

w5590 Matthew D. Shapiro
David W. Wilcox

Mismeasurement in the Consumer Price Index: An Evaluation

w5587 John Y. Campbell
Robert J. Shiller

A Scorecard for Indexed Government Debt

w5583 Roland Benabou
Unequal Societies

w5579 Bennett T. McCallum
Inflation Targeting in Canada, New Zealand, Sweden, the United Kingdom, and in General

w5575 Christina D. Romer
Inflation and the Growth Rate of Output

w5571 Jagadeesh Gokhale
Laurence J. Kotlikoff
John Sabelhaus

Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis

w5570 Christopher J. Ruhm
Are Recessions Good For Your Health?

w5566 Michael Kremer
How Much Does Sorting Increase Inequality?

w5562 Jess Gaspar
Edward Glaeser

Information Technology and the Future of Cities

t0195 Wouter J. Den Haan
Andrew Levin

Inferences from Parametric and Non-Parametric Covariance Matrix Estimation Procedures

w5553 Wouter J. Den Haan
The Comovements Between Real Activity and Prices at Different Business Cycle Frequencies

w5546 Nobuhiro Kiyotaki
Kenneth D. West

Business Fixed Investment and the Recent Business Cycle in Japan

w5541 V. V. Chari
Lawrence J. Christiano
Martin Eichenbaum

Expectation Traps and Discretion

w5538 David Card
Dean Hyslop

Does Inflation "Grease the Wheels of the Labor Market"?

t0194 Francis X. Diebold
Til Schuermann

Exact Maximum Likelihood Estimation of Observation-Driven Econometric Models

w5520 Laurence Ball
Disinflation and the NAIRU

w5508 Ricardo J. Caballero
John V. Leahy

Fixed Costs: The Demise of Marginal q

w5507 Robert G. King
Alexander L. Wolman

Inflation Targeting in a St. Louis Model of the 21st Century

w5503 Martin Neil Baily
Eric J. Bartelsman
John Haltiwanger

Labor Productivity: Structural Change and Cyclical Dynamics

w5502 Robert J. Barro
Reflections on Ricardian Equivalence

w5482 Antulio N. Bomfim
Francis X. Diebold

Bounded Rationality and Strategic Complementarity in a Macroeconomic Model: Policy Effects, Persistence and Multipliers

w5481 Francis X. Diebold
Abdelhak S. Senhadji

Deterministic vs. Stochastic Trend in U.S. GNP, Yet Again

w5477 Douglas Staiger
James H. Stock
Mark W. Watson

How Precise are Estimates of the Natural Rate of Unemployment?

w5476 Jeffrey A. Frankel
David Romer

Trade and Growth: An Empirical Investigation

t0192 Francis X. Diebold
Jose A. Lopez

Forecast Evaluation and Combination

w5471 Ricardo J. Caballero
Mohamad L. Hammour

The "Fundamental Transformation" in Macroeconomics

w5470 John F. Helliwell
Economic Growth and Social Capital in Asia

w5464 Frederic S. Mishkin
The Channels of Monetary Transmission: Lessons for Monetary Policy

w5447 Gene M. Grossman
Elhanan Helpman

Intergenerational Redistribution with Short-Lived Governments

w5443 Paul M. Romer
Why, indeed, in America? Theory, History, and the Origins of Modern Economic Growth

w5439 Ben S. Bernanke
Kevin Carey

Nominal Wage Stickiness and Aggregate Supply in the Great Depression

w5414 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

The Poverty of Nations: A Quantitative Exploration

w5412 Tianlun Jian
Jeffrey D. Sachs
Andrew M. Warner

Trends in Regional Inequality in China

w5404 Jeffrey D. Sachs
Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences


1995
w5398 Jeffrey D. Sachs
Andrew M. Warner

Natural Resource Abundance and Economic Growth

w5382 Susanto Basu
John G. Fernald

Aggregate Productivity and the Productivity of Aggregates

w5379 Arturo Estrella
Frederic S. Mishkin

Predicting U.S. Recessions: Financial Variables as Leading Indicators

w5363 Andrew B. Abel
Janice C. Eberly

The Effects of Irreversibility and Uncertainty on Capital Accumulation

w5357 Herschel I. Grossman
Minseong Kim

Predation and Accumulation

w5350 Orazio P. Attanasio
James Banks
Costas Meghir
Guglielmo Weber

Humps and Bumps in Lifetime Consumption

w5344 Laurence Ball
Dean Croushore

Expectations and the Effects of Monetary Policy

w5339 Dani Rodrik
Trade Strategy, Investment, and Exports: Another Look at East Asia

w5337 Jordi Gali
Non-Walrasian Unemployment Fluctuations

w5336 Susanto Basu
Procyclical Productivity: Increasing Returns or Cyclical Utilization?

w5327 Robert J. Barro
Optimal Debt Management

w5326 Robert J. Barro
Inflation and Economic Growth

w5292 Lawrence J. Christiano
Jonas Fisher

Tobin's q and Asset Returns: Implications for Business Cycle Analysis

w5291 William A. Brock
Steven N. Durlauf

Discrete Choice with Social Interactions I: Theory

w5286 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Sectoral Solow Residuals

w5282 Orazio P. Attanasio
Consumer Durables and Inertial Behavior: Estimation and Aggregation of (S,s) Rules

w5269 V. V. Chari
Lawrence J. Christiano
Martin Eichenbaum

Inside Money, Outside Money and Short Term Interest Rates

w5263 Laurence Ball
N. Gregory Mankiw

What Do Budget Deficits Do?

w5262 Michele Boldrin
Lawrence J. Christiano
Jonas D.M. Fisher

Asset Pricing Lessons for Modeling Business Cycles

w5261 Albert Ando
Andrea Moro

Demographic Dynamics, Labor Force Participation and Household Asset Accumulation: Case of Japan

w5260 Russell Cooper
John Haltiwanger
Laura Power

Machine Replacement and the Business Cycle: Lumps and Bumps

w5258 Jeffrey A. Miron
J. Joseph Beaulieu

What Have Macroeconomists Learned about Business Cycles from the Study of Seasonal Cycles?

w5254 Robert J. Shiller
Ryan Schneider

Labor Income Indices Designed for Use in Contracts Promoting Income Risk Management

w5227 Andrew B. Abel
Avinash K. Dixit
Janice C. Eberly
Robert S. Pindyck

Options, the Value of Capital, and Investment

w5217 Jeremy C. Stein
An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy

w5216 William H. Dow
Jessica Holmes
Tomas Philipson
Xavier Sala-i-Martin

Disease Complementarities and the Evaluation of Public Health Interventions

w5213 Robert B. Barsky
Miles S. Kimball
F. Thomas Juster
Matthew D. Shapiro

Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Survey

w5211 Alwyn Young
Growth Without Scale Effects

w5207 Jonathan Eaton
Samuel Kortum

Engines of Growth: Domestic and Foreign Sources of Innovation

w5205 Larry E. Jones
Rodolfo E. Manuelli

A Positive Model of Growth and Pollution Controls

w5204 Michael Woodford
Price Level Determinacy Without Control of a Monetary Aggregate

w5198 Ricardo J. Caballero
Mohamad L. Hammour

On the Ills of Adjustment

w5197 Sergio Rebelo
Carlos A. Vegh

Real Effects of Exchange Rate-Based Stabilization: An Analysis of Competing Theories

w5194 Christopher D. Carroll
Andrew A. Samwick

How Important is Precautionary Saving?

w5193 Christopher D. Carroll
Andrew A. Samwick

The Nature of Precautionary Wealth

w5186 Daniel Feenberg
Jeffrey A. Miron

Improving the Accessibility of the NBER's Historical Data

w5163 David M. Cutler
Edward L. Glaeser

Are Ghettos Good or Bad?

w5154 John H. Cochrane
What do the VARs Mean?: Measuring the Output Effects of Monetary Policy

w5151 Robert J. Barro
Xavier Sala-i-Martin

Technological Diffusion, Convergence, and Growth

w5146 Ben S. Bernanke
Mark Gertler

Inside the Black Box: The Credit Channel of Monetary Policy Transmission

w5135 Assaf Razin
Chi-Wa Yuen

Factor Mobility and Income Growth: Two Convergence Hypotheses

w5130 Russell Cooper
Joao Ejarque

Financial Intermediation and The Great Depression: A Multiple Equilibrium Interpretation

w5126 Orazio P. Attanasio
Hilary W. Hoynes

Differential Mortality and Wealth Accumulation

w5125 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Capital Utilization and Returns to Scale

w5122 Robert C. Feenstra
Gordon H. Hanson

Foreign Direct Investment and Relative Wages: Evidence from Mexico's Maquiladoras

w5109 Herschel I. Grossman
American Fiscal Policy in the 1990's

w5091 Andrew B. Abel
Janice C. Eberly

Optimal Investment with Costly Reversibility

w5083 Nobuhiro Kiyotaki
John Moore

Credit Cycles

w5081 Robert J. Gordon
Is There a Tradeoff between Unemployment and Productivity Growth?

w5080 Frederic S. Mishkin
John Simon

An Empirical Examination of the Fisher Effect in Australia

w5075 Bennett T. McCallum
Two Fallacies Concerning Central Bank Independence

w5073 Susanto Basu
John G. Fernald

Are Apparent Productive Spillovers a Figment of Specification Error?

w5060 Jong-Wha Lee
Government Interventions and Productivity Growth in Korean ManufacturingIndustries

w5059 Theofanis P. Mamuneas
M. Ishaq Nadiri

Public R&D Policies and Cost Behavior of the US Manufacturing Industries

w5057 Eduardo Borensztein
Jose De Gregorio
Jong-Wha Lee

How Does Foreign Direct Investment Affect Economic Growth?

w5056 Kyle Bagwell
Robert W. Staiger

Collusion over the Business Cycle

w5049 Jonathan Eaton
Samuel Kortum

Trade in Ideas: Patenting and Productivity in the OECD

t0177 Lawrence J. Christiano
Wouter J. Den Haan

Small Sample Properties of GMM for Business Cycle Analysis

t0176 Kenneth D. West
David W. Wilcox

A Comparison of Alternative Instruments Variables Estimators of a Dynamic Linear Model

w5046 Miles S. Kimball
The Quantitative Analytics of the Basic Neomonetarist Model

w5043 Frederic S. Mishkin
The Rational Expectations Revolution: A Review Article of: Preston J. Miller, ed.:The Rational Expectations Revolution, Readings from the Front Line

w5042 Ricardo J. Caballero
Eduardo M.R.A. Engel
John Haltiwanger

Aggregate Employment Dynamics: Building From Microeconomic Evidence

w5039 Jeffrey D. Sachs
Andrew M. Warner

Economic Convergence and Economic Policies

w5033 Fumio Hayashi
Is the Japanese Extended Family Altruistically Linked? A Test based on Engel Curves

w5026 Edward L. Glaeser
Bruce Sacerdote
Jose A. Scheinkman

Crime and Social Interactions

w5025 Marianne Baxter
International Trade and Business Cycles

w5022 Marianne Baxter
Robert G. King

Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series

w5018 Casey B. Mulligan
Xavier Sala-i-Martin

A Labor-Income-Based Measure of the Value of Human Capital: An Application to the States of the United States

w5016 Casey B. Mulligan
Xavier Sala-i-Martin

Measuring Aggregate Human Capital

w5015 Laurence Ball
Douglas W. Elmendorf
N. Gregory Mankiw

The Deficit Gamble

w5013 Edward L. Glaeser
Jose A. Scheinkman
Andrei Shleifer

Economic Growth in a Cross-Section of Cities

w5011 Stephen G. Cecchetti
Anil K Kashyap
David W. Wilcox

Do Firms Smooth the Seasonal in Production in a Boom? Theory and Evidence

t0174 Francis X. Diebold
Lee E. Ohanian
Jeremy Berkowitz

Dynamic Equilibrium Economies: A Framework for Comparing Models and Data

t0173 Francis X. Diebold
Jose A. Lopez

Measuring Volatility Dynamics

t0144 Kenneth D. West
Whitney K. Newey

Automatic Lag Selection in Covariance Matrix Estimation

w4995 John Y. Campbell
John H. Cochrane

By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior

w4987 Edward L. Glaeser
The Incentive Effects of Property Taxes on Local Governments

w4986 John V. Leahy
Toni M. Whited

The Effect of Uncertainty on Investment: Some Stylized Facts

t0120 Maurice Obstfeld
Evaluating Risky Consumption Paths: The Role of Intertemporal Substitutability


1994
w4973 James E. Rauch
Bureaucracy, Infrastructure, and Economic Growth: Evidence from U.S. Cities During the Progressive Era

w4964 Dani Rodrik
Getting Interventions Right: How South Korea and Taiwan Grew Rich

w4959 Garey Ramey
Valerie A. Ramey

Cross-Country Evidence on the Link Between Volatility and Growth

w4954 Edward L. Glaeser
Jose A. Scheinkman

Neither a Borrower nor a Lender Be: An Economic Analysis of Interest Restrictions and Usury Laws

w4948 Julio J. Rotemberg
Prices, Output and Hours: An Empirical Analysis Based on a Sticky Price Model

t0171 Michael T. K. Horvath
Mark W. Watson

Testing for Cointegration When Some of the Contributing Vectors are Known

w4938 Bennett T. McCallum
Monetary Policy and the Term Structure of Interest Rates

w4935 Charles W. Calomiris
Christopher Hanes

Historical Macroeconomics and American Macroeconomic History

w4931 Jonathan Eaton
Samuel Kortum

International Patenting and Technology Diffusion

t0169 Francis X. Diebold
Robert S. Mariano

Comparing Predictive Accuracy

w4909 Robert J. Barro
Democracy & Growth

w4889 Mark Hooker
Michael Knetter

Unemployment Effects of Military Spending: Evidence from a Panel of States

w4888 James H. Stock
Martin Feldstein

Measuring Money Growth When Financial Markets Are Changing

w4887 Ricardo J. Caballero
Eduardo M.R.A. Engel

Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach

t0167 Peter F. Christoffersen
Francis X. Diebold

Optimal Prediction Under Asymmetric Loss

h0060 Alan M. Taylor
Three Phases of Argentine Economic Growth

t0165 Eugene Canjels
Mark W. Watson

Estimating Deterministic Trends in the Presence of Serially Correlated Errors

t0164 James H. Stock
Mark W. Watson

Evidence on Structural Instability in Macroeconomic Time Series Relations

w4840 Glenn Ellison
Edward L. Glaeser

Geographic Concentration in U.S. Manufacturing Industries: A Dartboard Approach

w4833 Andrew Atkeson
Patrick J. Kehoe

Models of Energy Use: Putty-Putty versus Putty-Clay

w4827 Michael Kremer
Jim Thomson

Young Workers, Old Workers, and Convergence

w4819 Russell Cooper
Joao Ejarque

Financial Intermediation and Aggregate Fluctuations: A Quantative Analysis

w4814 Ben S. Bernanke
The Macroeconomics of the Great Depression: A Comparative Approach

w4811 Orazio P. Attanasio
The Intertemporal Allocation of Consumption: Theory and Evidence

w4795 Orazio P. Attanasio
Guglielmo Weber

Is Consumption Growth Consistent with Intertemporal Optimization? Evidence from the Consumer Expenditure Survey

w4771 Orazio Attanasio
Steven J. Davis

Relative Wage Movements and the Distribution of Consumption

w4768 Ricardo J. Caballero
Mohamad L. Hammour

On the Timing and Efficiency of Creative Destruction

w4766 Andrew Caplin
John Leahy

Mass Layoffs and Unemployment

w4765 Christina D. Romer
David H. Romer

What Ends Recessions?

w4761 Eric M. Leeper
Christopher A. Sims

Toward a Modern Macroeconomic Model Usable for Policy Analysis

t0159 Andrew B. Bernard
Steven N. Durlauf

Interpreting Tests of the Convergence Hypothesis

w4752 Dan Ben-David
David H. Papell

The Great Wars, The Great Crash, and the Unit Root Hypothesis: Some New Evidence About an Old Stylized Fact

w4741 Martin Neil Baily
Eric J. Bartelsman
John Haltiwanger

Downsizing and Productivity Growth: Myth or Reality?

w4736 Philippe Aghion
Olivier Jean Blanchard

On the Speed of Transition Central Europe

w4735 William Easterly
Stanley Fischer

The Soviet Economic Decline: Historical and Republican Data

w4728 Edward L. Glaeser
David C. Mare

Cities and Skills

w4726 John Baldwin
Timothy Dunne
John Haltiwanger

A Comparison of Job Creation and Job Destruction in Canada and the United States

t0155 Craig Burnside
Martin Eichenbaum

Small Sample Properties of Generalized Method of Moments Based Wald Tests

w4725 Jong-Wha Lee
Capital Goods Imports and Long-Run Growth

w4719 Andrew Atkeson
Christopher Phelan

Reconsidering the Costs of Business Cycles with Incomplete Markets

w4715 Alberto F. Ades
Edward L. Glaeser

Trade and Circuses: Explaining Urban Giants

w4714 Alberto F. Ades
Edward L. Glaeser

Evidence on Growth, Increasing Returns and the Extent of the Market

w4709 Alan J. Auerbach
The U.S. Fiscal Problem: Where We Are, How We Got Here and Where We're Going

w4706 Bennett T. McCallum
A Semi-Classical Model of Price Level Adjustment

w4699 Lawrence J. Christiano
Martin Eichenbaum
Charles Evans

The Effects of Monetary Policy Shocks: Some Evidence from the Flow of Funds

w4698 John H. Cochrane
Shocks

w4687 Andrew Caplin
John Leahy

The Economics of Adjustment

w4681 William Easterly
Robert King
Ross Levine
Sergio Rebelo

Policy, Technology Adoption, and Growth

w4680 Alwyn Young
The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience

w4677 Laurence Ball
N. Gregory Mankiw

A Sticky-Price Manifesto

w4675 Craig Burnside
Martin Eichenbaum

Factor Hoarding and the Propagation of Business Cycles Shocks

w4650 Julio J. Rotemberg
Michael Woodford

Is the Business Cycles a Necessary Consequence of Stochastic Growth?

w4643 Francis X. Diebold
Glenn D. Rudebusch

Measuring Business Cycles: A Modern Perspective

w4638 Robert W. Fogel
Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy

w4610 Robert J. Barro
Xavier Sala-i-Martin

Quality Improvements in Models of Growth


1993
w4603 Philippe Aghion
Gilles Saint-Paul

Uncovering Some Causal Relationships between Productivity Growth and the Structure of Economic Fluctuations: A Tentative Survey

w4578 Laurence Ball
The Dynamics of High Inflation

w4577 Russell Cooper
John Haltiwanger

Evidence on Macroeconomic Complementarities

w4576 Julio J. Rotemberg
Michael Woodford

Energy Taxes and Aggregate Economic Activity

w4569 Albert Ando
Luigi Guiso
Daniele Terlizzese

Dissaving by the Elderly, Transfer Motives and Liquidity Constraints

w4568 Albert Ando
Flint Brayton

Prices, Wages, and Employment in the U.S. Economy: A Traditional Model and Tests of Some Alternatives

w4565 Stanley Fischer
The Role of Macroeconomic Factors in Growth

w4562 Satyajit Chatterjee
Russell Cooper

Entry and Exit, Product Variety and the Business Cycle

w4550 Oded Galor
David N. Weil

The Gender Gap, Fertility, and Growth

w4531 Andrew Caplin
Charles Freeman
Joseph Tracy

Collateral Damage: How Refinancing Constraints Exacerbate Regional Recessions

w4529 Robert F. Engle
Joao Victor Issler

Estimating Sectoral Cycles Using Cointegration and Common Features

w4527 Gene M. Grossman
Elhanan Helpman

Endogenous Innovation in the Theory of Growth

w4523 Larry E. Jones
Rodolfo E. Manuelli

Growth and the Effects of Inflation

w4516 R. Glenn Hubbard
Jonathan Skinner
Stephen P. Zeldes

The Importance of Precautionary Motives in Explaining Individual and Aggregate Saving

w4502 Julio J. Rotemberg
Michael Woodford

Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets

w4499 William Easterly
Sergio Rebelo

Fiscal Policy and Economic Growth: An Empirical Investigation

w4492 Steven J. Davis
John Haltiwanger
Scott Schuh

Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts

w4490 V. V. Chari
Lawrence J. Christiano
Patrick J. Kehoe

Optimal Fiscal Policy in a Business Cycle Model

w4487 Steven N. Durlauf
Louis J. Maccini

Measuring Noise in Inventory Models

w4485 Christina D. Romer
David H. Romer

Credit Channel or Credit Actions? An Interpretation of the Postwar Transmission Mechanism

w4482 Alwyn Young
Lessons from the East Asian NICs: A Contrarian View

t0145 Lars Peter Hansen
John Heaton
Erzo Luttmer

Econometric Evaluation of Asset Pricing Models

w4474 William Easterly
Michael Kremer
Lant Pritchett
Lawrence H. Summers

Good Policy or Good Luck? Country Growth Performance and Temporary Shocks

w4472 Giuseppe Bertola
Ricardo J. Caballero

Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment

w4470 Christopher D. Carroll
David N. Weil

Saving and Growth: A Reinterpretation

w4455 Boyan Jovanovic
Saul Lach

Diffusion Lags and Aggregate Fluctuations. New Name: Product Innovation and the Business Cycle.

w4454 Orazio P. Attanasio
A Cohort Analysis of Saving Behavior by U.S. Households

w4453 Orazio P. Attanasio
Martin Browning

Consumption over the Life Cycle and over the Business Cycle

w4452 Paul M. Romer
New Goods, Old Theory, and the Welfare Costs of Trade Restrictions

w4449 Bennett T. McCallum
Specification and Analysis of a Monetary Policy Rule for Japan

t0143 Kenneth D. West
Inventory Models

w4443 V. V. Chari
Lawrence J. Christiano
Patrick J. Kehoe

Optimality of the Friedman Rule in Economies with Distorting Taxes

w4439 Robert E. Hall
N. Gregory Mankiw

Nominal Income Targeting

w4433 Magnus Blomstrom
Edward N. Wolff

Growth in a Dual Economy

w4426 Nancy L. Stokey
Sergio Rebelo

Growth Effects of Flat-Rate Taxes

w4411 Andrew Atkeson
Patrick J. Kehoe

Social Insurance and Transition

w4405 Alan J. Auerbach
Kevin A. Hassett
Stephen D. Oliner

Reassessing the Social Returns to Equipment Investment

w4403 Sherwin Rosen
Kevin M. Murphy
Jose A. Scheinkman

Cattle Cycles

w4396 Robert J. Shiller
Aggregate Income Risks and Hedging Mechanisms

t0139 Kenneth D. West
David W. Wilcox

Some Evidence on Finite Sample Behavior of an Instrumental Variables Estimator of the Linear Quadtratic Inventory Model

w4383 Michael W. Klein
Timing is All: Elections and the Duration of United States Business Cycles

w4381 Andrew Atkeson
Robert E. Lucas
Jr.

Effciency and Equality in a Simple Model of Unemployment Insurance

w4380 Robert S. Pindyck
Andres Solimano

Economic Instability and Aggregate Investment

h0048 Jeffrey G
Williamson
Kevin O'Rourke
Timothy J. Hatton

Mass Migration, Commodity Market Integration and Real Wage Convergence: The Late Nineteenth Century Atlantic Economy

w4372 Andrei Shleifer
Robert W. Vishny

Corruption

w4370 Ricardo J. Caballero
Adam B. Jaffe

How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth

w4368 Bennett T. McCallum
Unit Roots in Macroeconomic Time Series: Some Critical Issues

w4367 Bennett T. McCallum
Macroeconomics After Two Decades of Rational Expectations

w4363 Antonio Ciccone
Kiminori Matsuyama

Start-Up Costs and Pecuniary Externalities as Barriers to Economic Development

w4362 Willem H. Buiter
Public Debt in the USA: How Much, How Bad and Who Pays?

w4357 Barry Nalebuff
Andres Rodriguez
Joseph E. Stiglitz

Equilibrium Unemployment as a Worker Screening Device

w4354 Aaron Tornell
Economic Growth and Decline with Endogenous Property Rights

t0135 Roland Benabou
Jerzy Konieczny

On Inflation and Output with Costly Price Changes: A Simple Unifying Result

w4349 Robert J. Barro
Jong-Wha Lee

International Comparisons of Educational Attainment

w4344 Matthew D. Shapiro
Joel Slemrod

Consumer Response to the Timing of Income: Evidence from a Change in Tax Withholding

w4342 Matthew D. Shapiro
Federal Reserve Policy: Cause and Effect

w4341 Robert J. Barro
Jong-Wha Lee

Losers and Winners in Economic Growth

w4336 Assaf Razin
Chi-Wa Yuen

Convergence in Growth Rates: A Quantitative Assessment of the Role of Capital Mobility and International Taxation

w4328 Angus Deaton
Christina Paxson

Intertemporal Choice and Inequality

w4325 Martin Feldstein
The Dollar and the Trade Deficit in the 1980s: A Personal View

w4324 Martin Feldstein
Government Spending and Budget Deficits in the 1980s: A Personal View

w4322 Martin Feldstein
Monetary Policy and Inflation in the 1980s: A Personal View

w4318 Stephen A. O'Connell
Stephen P. Zeldes

Dynamic Efficiency in the Gifts Economy

w4313 Antonio Ciccone
Robert E. Hall

Productivity and the Density of Economic Activity

w4312 James E. Rauch
Does History Matter Only When it Matters Little? The Case of City-Indu try Location

w4311 Roland Benabou
Heterogeneity, Stratification, and Growth

w4306 Laurence Ball
What Determines the Sacrifice Ratio?

w4304 Martin Feldstein
James H. Stock

The Use of Monetary Aggregate to Target Nominal GDP

w4296 Andrew B. Abel
Janice C. Eberly

A Unified Model of Investment Under Uncertainty

w4292 Wolfgang Franz
Robert J. Gordon

German and American Wage and Price Dynamics: Differences and Common Thenes

w4286 Joseph E. Stiglitz
Endogenous Growth and Cycles

w4285 Valerie A. Ramey
How Important is the Credit Channel in the Transmission of Monetary Policy?

w4275 Toru Konishi
Valerie A. Ramey
Clive W.J. Granger

Stochastic Trends and Short-Run Relationships Between Financial Variables and Real Activity

w4274 J. Bradford De Long
Andrei Shleifer

Princes and Merchants: European City Growth before the Industrial Revolution

w4270 James A. Brander
Steve Dowrick

The Role of Fertility and Population in Economic Growth: Empirical ResultsFrom Aggregate Cross-National Data

w4267 Laurence Ball
David Romer

Inflation and the Informativeness of Prices

w4256 Alwyn Young
Substitution and Complementarity in Endogenous Innovation

w4250 Robert E. Lucas
Jr.
Michael Woodford

Real Effects of Monetary Shocks in an Economy with Sequential Purchases

w4249 John Heaton
Deborah Lucas

Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing


1992
w4241 Peter Bak
Kan Chen
Jose Scheinkman
Michael Woodford

Aggregate Fluctuations from Independent Sectoral Shocks: Self-Organized Criticality in a Model of Production and Inventory Dynamics

w4226 John F. Helliwell
Trade and Technical Progress

w4223 Eric M. Engen
Jonathan Skinner

Fiscal Policy and Economic Growth

t0130 Graham Elliott
Thomas J. Rothenberg
James H. Stock

Efficient Tests for an Autoregressive Unit Root

w4220 Willem H. Buiter
Kenneth M. Kletzer

Permanent International Productivity Growth Differentials in an Integrated Global Economy

w4214 Assaf Razin
Chi-Wa Yuen

Convergence in Growth Rates: The Role of Capital Mobility and International Taxation

w4206 Robert J. Barro
N. Gregory Mankiw
Xavier Sala-i-Martin

Capital Mobility in Neoclassical Models of Growth

w4202 Gary Solon
Robert Barsky
Jonathan A. Parker

Measuring the Cyclicality of Real Wages: How Important is Composition Bias

w4188 John Y. Campbell
Inspecting the Mechanism: An Analytical Approach to the Stochastic Growth Model

w4186 Xavier Sala-i-Martin
Transfers

w4178 J. Vernon Henderson
Ari Kuncoro
Matthew Turner

Industrial Development in Cities

w4173 Alberto Alesina
Sule Ozler
Nouriel Roubini
Phillip Swagel

Political Instability and Economic Growth

w4168 Laurence Ball
N. Gregory Mankiw

Relative-Price Changes as Aggregate Supply Shocks

w4162 Ricardo J. Caballero
Eduardo M.R.A. Engel

Microeconomic Rigidities and Aggregate Price Dynamics

w4161 Frank R. Lichtenberg
R&D Investment and International Productivity Differences

w4160 Ricardo J. Caballero
Robert S. Pindyck

Uncertainty, Investment, and Industry Evolution

w4156 Robert King
Mark W. Watson

Testing Long Run Neutrality

w4150 Christina D. Romer
Remeasuring Business Cycles

w4132 Magnus Blomstrom
Robert E. Lipsey
Mario Zejan

What Explains Developing Country Growth?

w4130 Mark Bils
Kenneth J. McLaughlin

Inter-Industry Mobility and the Cyclical Upgrading of Labor

t0126 J. Joseph Beaulieu
Jeffrey A. Miron

Seasonal Unit Roots in Aggregate U.S. Data

w3157 John H. Cochrane
Explaining the Variance of Price Dividend Ratios

w4105 Timothy F. Bresnahan
Valerie A. Ramey

Output Fluctuations at the Plant Level

w4100 Russell Cooper
John Haltiwanger

Autos and the National Industrial Recovery Act: Evidence on Industry Complementarities

w4093 Maurice Obstfeld
Risk-Taking, Global Diversification, and Growth

w4091 Ricardo J. Caballero
Eduardo M.R.A. Engel

Price Rigidities, Asymmetries, and Output Fluctuations

w4090 Ricardo J. Caballero
Eduardo M.R.A. Engel

Microeconomic Adjustment Hazards and Aggregate Dynamics

w4089 Laurence Ball
N. Gregory Mankiw

Asymmetric Price Adjustment and Economic Fluctuations

w4088 John H. Cochrane
Lars Peter Hansen

Asset Pricing Explorations for Macroeconomics

w4085 Steven J. Davis
Cross-Country Patterns of Change in Relative Wages

w4082 Ben Bernanke
Frederic Mishkin

Central Bank Behavior and the Strategy of Monetary Policy: Observations From Six Industrialized Countries

w4077 Stanley Fischer
Russia and the Soviet Union Then and Now

w4066 John F. Helliwell
Empirical Linkages Between Democracy and Economic Growth

w4062 Nouriel Roubini
Xavier Sala-i-Martin

A Growth Model of Inflation, Tax Evasion, and Financial Repression

w4056 Steven N. Durlauf
A Theory of Persistent Income Inequality

w4045 Richard E. Baldwin
On the Growth Effects of Import Competition

t0090 Steven N. Durlauf
Spectral Based Testing of the Martingale Hypothesis

w4038 Robert J. Barro
Xavier Sala-i-Martin

Regional Growth and Migration: A Japan-U.S. Comparison

w4035 Ricardo J. Caballero
Near-Rationality, Heterogeneity and Aggregate Consumption

w4031 Bruce Russett
Joel Slemrod

Diminished Expectations of Nuclear War and Increased Personal Savings: Evidence From Individual Survey Data

w4022 Benjamin M. Friedman
Learning From the Reagan Deficits

w4014 James H. Stock
Mark W. Watson

A Procedure for Predicting Recessions With Leading Indicators: Econometric Issues and Recent Experience

w4005 Mark W. Watson
Business Cycle Durations and Postwar Stabilization of the U.S. Economy

w4004 Noriyuki Yanagawa
Gene M. Grossman

Asset Bubbles and Endogenous Growth

w4000 Olivier Jean Blanchard
Peter Diamond

The Flow Approach to Labor Markets

w3996 Steven N. Durlauf
Paul A. Johnson

Local Versus Global Convergence Across National Economies

w3992 Olivier Jean Blanchard
Philippe Weil

Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty

w3990 Ray C. Fair
The Cowles Commission Approach, Real Business Cycle Theories, and New Keynesian Economics

w3989 John Y. Campbell
Intertemporal Asset Pricing Without Consumption Data

w3986 Casey B. Mulligan
Xavier Sala-i-Martin

Transitional Dynamics in Two-Sector Models of Endogenous Growth

w3983 Laurence Ball
Disinflation With Imperfect Credibility

h0036 Jeffrey G. Williamson
The Evolution of Global Labor Markets Since 1830 Background Evidence and Hypotheses

w3966 Martin Feldstein
The Budget and Trade Deficits Aren't Really Twins

w3974 Lawrence J. Christiano
Martin Eichenbaum

Liquidity Effects and the Monetary Transmission Mechanism

w3969 Robert J. Gordon
Measuring the Aggregate Price Level: Implications For Economic Performance and Policy

w3948 John F. Helliwell
Alan Chung

Convergence and Growth Linkages Between North and South


1991
w3944 Alessandro Missale
Olivier Jean Blanchard

The Debt Burden and Debt Maturity

w3936 David Romer
Openness and Inflation: Theory and Evidence

w3922 Ricardo J. Caballero
Mohamad L. Hammour

The Cleansing Effect of Recessions

w3921 Russell Cooper
Thomas W. Ross

Bank Runs: Liquidity and Incentives

w3920 Lawrence J. Christiano
Martin Eichenbaum

Identification and the Liquidity Effect of a Monetary Policy Shock

w3907 Eun Young Chah
Valerie A. Ramey
Ross M. Starr

Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods

w3905 James E. Rauch
Productivity Gains From Geographic Concentration of human Capital: Evidence From the Cities

w3903 J. Bradford De Long
Productivity and Machinery Investment: A Long Run Look 1870-1980

w3896 Rudiger Dornbusch
Stanley Fischer

Moderate Inflation

t0116 Casey B. Mulligan
Xavier Sala-i-Martin

A Note on the Time-Elimination Method For Solving Recursive Dynamic Economic Models

w3885 N. Gregory Mankiw
The Reincarnation of Keynesian Economics

w3876 Nouriel Roubini
Xavier Sala-i-Martin

Financial Repression and Economic Growth

w3869 Elhanan Helpman
Endogenous Macroeconomic Growth Theory

w3867 Victor Zarnowitz
Has Macro-Forecasting Failed?

w3866 Giuseppe Bertola
Labor Turnover Costs and Average Labor Demand

w3865 Giuseppe Bertola
Ricardo J. Caballero

Irreversibility and Aggregate Investment

w3864 Giuseppe Bertola
Flexibility, Investment, and Growth

w3863 Victor Zarnowitz
What is a Business Cycle?

w3125 Frederic S. Mishkin
A Multi-Country Study of the Information in the Term Structure about Future Inflation

r1645 John Y. Campbell
N. Gregory Mankiw

The Response of Consumption to Income

t0078 Ray C. Fair
John B. Taylor

Full Information Estimation and Stochastic Simulation of Models with Rational Expectations

w3851 Giuseppe Bertola
Factor Shares and Savings in Endogenous Growth

w3849 Robert J. Barro
World Interest Rates and Investment

w3844 Giuseppe Bertola
Allan Drazen

Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity

w3834 Fumio Hayashi
Joseph Altonji
Laurence Kotlikoff

Risk-Sharing, Altruism, and the Factor Structure of Consumption

w3833 Roland Benabou
Robert Gertner

The Informativeness of Prices: Search With Learning and Cost Uncertainty

w3829 Christina D. Romer
What Ended the Great Depression?

w3810 Eric J. Bartelsman
Ricardo J. Caballero
Richard K. Lyons

Short and Long Run Externalities

w3802 Marjorie A. Flavin
The Joint Consumption/Asset Demand Decision: A Case Study in Robust Estimation

t0111 Ray C. Fair
Estimating Event Probabilities from Macroeconomic Models Using Stochastic Simulation

w3787 Edward L. Glaeser
Hedi D. Kallal
Jose A. Scheinkman
Andrei Shleifer

Growth in Cities

w3786 Dennis W. Carlton
The Theory of Allocation and Its Implications for Marketing and Industrial Structure

w3763 Kenneth D. West
Sources of Cycles in Japan, 1975-1987

w3762 Kenneth D. West
A Comparison of the Behavior of Japanese and U.S. Inventories

w3756 Valerie A. Ramey
The Source of Fluctuations in Money: Evidence From Trade Credit

w3755 Garey Ramey
Valerie A. Ramey

Technology Commitment and the Cost of Economic Fluctuations

w3748 Ricardo J. Caballero
Durable Goods: An Explanation for Their Slow Adjustment

w3738 Leonardo Leiderman
Assaf Razin

Determinants of External Imbalances: The Role Taxes, Government Spending and Productivity

w3735 Ricardo J. Caballero
A Fallacy of Composition

w3734 Ricardo J. Caballero
Eduardo M.R.A. Engel

Dynamic (S,s) Economies

w3733 Stephen L. Parente
Edward C. Prescott

Technology Adoption and Growth

w3732 Boyan Jovanovic
Saul Lach

The Diffusion of Technology and Inequality Among Nations

w3729 Ricardo J. Caballero
Eduardo M.R.A. Engel

Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy

w3728 Steve J. Davis
John Haltiwanger

Gross Job Creation, Gross Job Destruction and Employment Reallocation

w3726 John Dagsvik
Boyan Jovanovic

Was the Great Depression a Low-Level Equilibrium?

t0106 Danny Quah
The Relative Importance of Permanent and Transitory Components: Identi- fication and Some Theoretical Bounds

w3720 Laurence Ball
Externalities from Labor Mobility

w3719 Steven N. Durlauf
Nonergodic Economic Growth

w3718 Steven N. Durlauf
Path Dependence in Aggregate Output

w3717 Andrew B. Bernard
Steven N. Durlauf

Convergence of International Output Movements

w3712 Alwyn Young
Invention and Bounded Learning by Doing

w3706 Dan Ben-David
Equalizing Exchange: A Study of the Effects of Trade Liberalization

w3702 Stanley Fischer
Growth, Macroeconomics, and Development

t0105 James H. Stock
Confidence Intervals for the Largest Autoresgressive Root in U.S. Macroeconomic Time Series

w3690 Robert Dekle
Lawrence H. Summers

Japan's High Saving Rate Reaffirmed

w3686 Herschel I. Grossman
Monetary Economics: A Review Essay

t0100 John Y. Campbell
Pierre Perron

Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots

w3668 Alberto Alesina
Dani Rodrik

Distributive Politics and Economic Growth

w3664 Olivier Jean Blanchard
Wage Bargaining and Unemployment Persistence

w3646 Alan S. Blinder
Why are Prices Sticky? Preliminary Results from an Interview Study

r1547 Olivier Blanchard
Jean-Claude Chouraqui
Robert P. Hagemann
Nicola Sartor

The Sustainability of Fiscal Policy: New Answers to an Old Question

w3635 J. Joseph Beaulieu
Jeffrey K. MacKie-Mason
Jeffrey A. Miron

Why Do Countries and Industries with Large Seasonal Cycles Also Have Large Business Cycles?

w3629 Steven N. Durlauf
Multiple Equilibria and Persistence in Aggregate Fluctuations

w3621 Laurence Ball
The Genesis of Inflation and the Costs of Disinflation

r1523 Martin Neil Baily
Charles L. Schultze

The Productivity of Capital in a Period of Slower Growth

r1522 Laurence Ball
Stephen G. Cecchetti

Inflation and Uncertainty at Short and Long Horizons

r1513 Robert J. Gordon
What Is New-Keynesian Economics?

r1500 Christina D. Romer
David H. Romer

New Evidence on the Monetary Transmission Mechanism

w3606 Kiminori Matsuyama
Agricultural Productivity, Comparative Advantage and Economic Growth

w3599 Torsten Persson
Guido Tabellini

Is Inequality Harmful for Growth? Theory and Evidence

w3595 Stanley Fischer
Money, Interest and Prices

w3594 Luis A. Rivera-Batiz
Paul M. Romer

International Trade with Endogenous Technological Change

w3591 John H. Cochrane
Volatility Tests and Efficient Markets: A Review Essay

w3589 Alan J. Auerbach
Jagadeesh Gokhale
Laurence J. Kotlikoff

Generational Accounts - A Meaningful Alternative to Deficit Accounting

w3580 Joseph E. Stiglitz
Methodological Issues and the New Keynesian Economics

w3577 Alwyn Young
Learning by Doing and the Dynamic Effects of International Trade

w3126 Frederic S. Mishkin
The Information in the Longer Maturity Term Structure about Future Inflation

w2436 John Y. Campbell
N. Gregory Mankiw

Permanent Income, Current Income, and Consumption

r1496 Paul Romer
Capital, Labor, and Productivity

r1489 Danny Quah
Permanent and Transitory Movements in Labor Income: An Explanation for "Excess Smoothness" in Consumption

r1478 Robert J. Gordon
The Role of Wages in the Inflation Process


1990
w3545 Anne O. Krueger
David Orsmond

Impact of Government on Growth and Trade

w3534 Julio J. Rotemberg
Michael Woodford

Cyclical Markups: Theories and Evidence

w3530 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

The Allocation of Talent: Implications for Growth

w3529 Laurence M. Ball
Time-Consistent Policy and Persistent Changes in Inflation

w3528 Luis A. Rivera-Batiz
Paul M. Romer

Economic Integration and Endogenous Growth

w3522 Jeffrey A. Miron
The Economics of Seasonal Cycles

w3521 Michael J. Boskin
Lawrence J. Lau

Post-War Economic Growth in the Group-of-Five Countries: A New Analysis

w3564 Xavier Sala-i-Martin
Lecture Notes on Economic Growth(II): Five Prototype Models of Endogenous Growth

w3563 Xavier Sala-i-Martin
Lecture Notes on Economic Growth(I): Introduction to the Literature and Neoclassical Models

w3556 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Labor Hoarding and the Business Cycle

w3555 Laurence Ball
Credible Disinflation with Staggered Price Setting

w3552 Russell Cooper
John Haltiwanger

The Aggregate Implications of Machine Replacement: Theory and Evidence

w3541 N. Gregory Mankiw
David Romer
David N. Weil

A Contribution to the Empirics of Economic Growth

w3533 Bruce C. Greenwald
Joseph E. Stiglitz

Macroeconomic Models with Equity and Credit Rationing

w3515 J. Bradford De Long
Lawrence H. Summers

Equipment Investment and Economic Growth

w3510 Anindya Banerjee
Robin L. Lumsdaine
James H. Stock

Recursive and Sequential Tests of the Unit Root and Trend Break Hypothesis: Theory and International Evidence

w3503 Ben S. Bernanke
Martin L. Parkinson

Procyclical Labor Productivity and Competing Theories of the Business Cycle: Some Evidence from Interwar U.S. Manufacturing Industries

w3495 Mark Gertler
R. Glenn Hubbard
Anil Kashyap

Interest Rate Spreads, Credit Constraints, and Investment Fluctuations: An Empirical Investigation

t0093 Joseph Stiglitz
Andrew Weiss

Sorting Out the Differences Between Signaling and Screening Models

w3488 Ben Bernanke
Harold James

The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison

w3487 Ben Bernanke
The Federal Funds Rate and the Channels of Monetary Transnission

w3486 Ben Bernanke
On the Predictive Power of Interest Rates and Interest Rate Spreads

w3485 Gene M. Grossman
Elhanan Helpman

Trade, Knowledge Spillovers, and Growth

w3479 Lars Peter Hansen
Thomas J. Sargent

Recursive Linear Models of Dynamic Economies

w3469 Larry E. Jones
Rodolfo E. Manuelli

Finite Lifetimes and Growth

w3459 J. Joseph Beaulieu
Jeffrey A. Miron

A Cross Country Comparison of Seasonal Cycles and Business Cycles

r1455 Raaj Kumar Sah
Joseph E. Stiglitz

Sources of Technological Divergence between Developed and Less Developed Economies

w3450 J. Joseph Beaulieu
Jeffrey A. Miron

The Seasonal Cycle in U.S. Manufacturing

w3439 Angus Deaton
Guy Laroque

On The Behavior of Commodity Prices

w3438 Satyajit Chatterjee
Russell Cooper
B. Ravikumar

Participation Dynamics: Sunspots and Cycles

w3432 Martin Eichenbaum
Real Business Cycle Theory: Wisdom or Whimsy?

w3431 Oliver Hart
John Moore

A Theory of Corporate Financial Structure Based on the Seniority of Claims

w3427 John H. Cochrane
Univariate vs. Multivariate Forecasts of GNP Growth and Stock Returns: Evidence and Implications for the Persistence of Shocks, Detrending Methods

w3117 John B. Taylor
Harald Uhlig

Solving Nonlinear Stochastic Growth Models: A Comparison of Alternative Solution Methods

w3419 Robert J. Barro
Xavier Sala-i-Martin

Economic Growth and Convergence across The United States

w3414 Gary S. Becker
Kevin M. Murphy
Robert F. Tamura

Human Capital, Fertility, and Economic Growth

w3413 Nancy L. Stokey
Human Capital, Product Quality, And Growth

w3408 Alan S. Blinder
Louis J. Maccini

The Resurgence of Inventory Research: What Have We Learned?

w3402 N. Gregory Mankiw
Stephen P. Zeldes

The Consumption of Stockholders and Non-Stockholders

w3400 Frederic S. Mishkin
Asymmetric Information and Financial Crises: A Historical Perspective

r1424 Robert J. Gordon
Hysteresis in History: Was There Ever a Phillips Curve?

w3394 Lars E.O. Svensson
The Simplest Test of Target Zone Credibility

w3393 Robert J. Gordon
The Phillips Curve Now and Then

w3388 N. Gregory Mankiw
Jeffrey A. Miron

Should The Fed Smooth Interest Rates? The Case of Seasonal Monetary Policy

w3387 Olivier Jean Blanchard
Peter Diamond

Ranking, Unemployment Duration, and Wages

w3385 George A. Akerlof
Andrew K. Rose
Janet L. Yellen

Waiting for Work

w3376 James H. Stock
Mark W. Watson

Business Cycle Properties of Selected U.S. Economic Time Series, 1959-1988

w2881 John B. Taylor
Policy Analysis With a Multicountry Model

w3362 Robert J. Barro
Xavier Sala-i-Martin

Public Finance in Models of Economic Growth

w3361 Michael Woodford
Self-Fulfilling Expectations and Fluctuations in Aggregate Demand

w3360 Michael Woodford
Equilibrium Models of Endogenous Fluctuations: an Introduction

w3349 David S. Bizer
Steven N. Durlauf

Testing the Positive Theory of Government Finance

r1405 Olivier Jean Blanchard
Peter Diamond

The Beveridge Curve

t0089 Lars Peter Hansen
Ravi Jagannathan

Implications of Security Market Data for Models of Dynamic Economies

w3344 Jess Benhabib
Randall Wright
Richard Rogerson

Homework in Macoreconomics I: Basic Theory (Part I of II)

w3340 Anne O. Krueger
Government Failures in Development

w3339 R. Glenn Hubbard
Anil Kashyap

Internal Net Worth and the Investment Process: An Application to U.S. Agriculture

w3338 Robert G. King
Sergio Rebelo

Public Policy and Economic Growth: Developing Neoclassical Implications

w3330 S. Rao Aiyagari
Lawrence J. Christiano
Martin Eichenbaum

The Output, Employment, and Interest Rate Effects of Government Consumption

w3325 Sergio T. Rebelo
Long Run Policy Analysis and Long Run Growth

w3317 Robert J. Barro
Xavier Sala-i-Martin

World Real Interest Rates

w2144 James M. Poterba
Lawrence H. Summers

Recent Evidence on Budget Deficits and National Savings

w1448 Lawrence H. Summers
Estimating the Long-Run Relationship Between Interest Rates and Inflation: A Response to McCallum

w3054 Susanto Basu
Miles S. Kimball
N. Gregory Mankiw
David N. Weil

Optimal Advice for Monetary Policy

w2877 Ray C. Fair
The Production Smoothing Model is Alive and Well

t0087 Darrell Duffie
Kenneth J. Singleton

Simulated Moments Estimation of Markov Models of Asset Prices

w3271 Paul Romer
Are Nonconvexities Important For Understanding Growth?

w3256 N. Gregory Mankiw
A Quick Refresher Course in Macroeconomics

w2938 Bruce C. Greenwald
Joseph E. Stiglitz

Toward a Theory of Rigidities

w3243 David M. Cutler
James M. Poterba
Lawrence H. Summers

Speculative Dynamics and the Role of Feedback Traders

w3242 David M. Cutler
James M. Poterba
Lawrence H. Summers

Speculative Dynamics

w3241 Larry E. Jones
Rodolfo Manuelli

A Convex Model of Equilibrium Growth

w3229 Daniel S. Hamermesh
Aggregate Employment Dynamcis and Lumpy Adjustment Costs

w3224 Laurence Ball
Why Does High Inflation Raise Inflation Uncertainty?

w3223 Philippe Aghion
Peter Howitt

A Model of Growth Through Creative Destruction

w2953 Andrew B. Abel
Birth, Death and Taxes


1989
w3214 William Easterly
Policy Distortions, Size of Government, and Growth

w3212 John H. Cochrane
Using Production Based Asset Pricing to Explain the Behavior of Stock Returns Over the Business Cycle

w3210 Paul Romer
Endogenous Technological Change

w3206 Julio J. Rotemberg
Michael Woodford

Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity

w3202 Mark L. Gertler
R. Glenn Hubbard

Taxation, Corporate Capital Structure, and Financial Distress

w3201 Gene M. Grossman
Elhanan Helpman

Quality Ladders and Product Cycles

w3196 Angus Deaton
Saving and Liquidity Constraints

w2799 Catherine J. Morrison
Markups in U.S. and Japanese Manufacturing: A Short Run Econometric Analysis

r1332 Matthew D. Shapiro
Assessing the Federal Reserve's Measures of Capacity and Utilization

t0083 James H. Stock
Mark W. Watson

A Simple MLE of Cointegrating Vectors in Higher Order Integrated Systems

w3190 Jess Benhabib
Boyan Jovanovic

Externalities and Growth Accounting

w3189 Jeremy Greenwood
Boyan Jovanovic

Financial Development, Growth, and the Distribution of Income

w3185 Robert G. King
Sergio T. Rebelo

Transitional Dynamics and Economic Growth in the Neoclassical Model

w3175 Olivier Jean Blanchard
Peter A. Diamond

The Aggregate Matching Function

w3173 Paul M. Romer
Human Capital And Growth: Theory and Evidence

w3172 Christina Romer
Jeffrey A. Miron

A New Monthly Index of Industrial Production, 1884-1940

w3168 Olivier Jean Blanchard
Two Tools for Analyzing Unemployment

w3162 Bennett T. McCallum
Could A Monetary Base Rule Have Prevented the Great Depression?

w3158 James M. Boughton
William H. Branson
Alphecca Muttardy

Commodity Prices and Inflation: Evidence From Seven Large Industrial Countries

t0082 James A. Kahn
Steve Landsburg
Alan C. Stockman

The Positive Economics of Methodology

w3152 Assaf Razin
Efraim Sadka

International Tax Competition and Gains from Tax Harmonization

w3151 Mervyn A. King
Mark Robson

Endogenous Growth and the role of History

w3150 Alan J. Auerbach
Laurence J. Kotlikoff

Demographics, Fiscal Policy, and U.S. Saving in the 1980s and Beyond

w3146 Elhanan Helpman
Leonardo Leiderman

Real Wages, Monetary Accommodation, and Inflation

w3145 Robert E. Hall
A Framework for studying Monetary Non-Neutrality

w3144 Robert E. Hall
Spontaneous Volatility of Output and Investment

w3143 Robert E. Hall
Temporal Agglomeration

w3134 David Romer
Staggered Price Setting with Endogenous Frequency of Adjustment

w3132 Victor Zarnowitz
Cost and Price Movements in Business Cycle Theories and Experience: Causes and Effects of OBserved Changes (SEE ALSO WP3131-Send out together)

w3131 Victor Zarnowitz
Cost and Price Movements in Business Cycle Theories and Experience: Hypotheses of Sticky Wages and Prices (SEE ALSO WP3132-send out together)

w3130 Lawrence J. Christiano
Martin Eichenbaum

Unit Roots in Real GNP: Do We Know, and Do We Care?

w2882 N. Gregory Mankiw
Real Business Cycles: A New Keynesian Perspective

t0079 Donald W.K. Andrews
Ray C. Fair

Estimation of Polynomial Distributed Lags and Leads with End Point Constraints

w3120 Robert J. Barro
Economic Growth in a Cross Section of Countries

w3105 Alan S. Blinder
Don H. Choi

A Shred of Evidence on Theories of Wage Stickiness

w3102 Ray C. Fair
Inflationary Expectations and Price Setting Behavior

w3099 Gene M. Grossman
Elhanan Helpman

Quality Ladders in the Theory of Growth

w3098 Paul M. Romer
Increasing Returns and New Developments in the Theory of Growth

w3090 Chris Carroll
Lawrence H. Summers

Consumption Growth Parallels Income Growth: Some New Evidence

w2894 Jacob A. Frenkel
Morris Goldstein

Exchange Rate Volatility and Misalignment: Evaluating Some Proposals for Reform

w3051 Mark Bils
Testing for Contracting Effects on Employment

w3050 Mark Bils
Cyclical Pricing of Durable Goods

w3045 Ray C. Fair
Does Monetary Policy Matter? Narrative Versus Structural Approaches

w3034 Robert E. Hall
Invariance Properties of Solow's Productivity Residual

w3033 Ricardo J. Caballero
Richard K. Lyons

The Role of External Economies in U.S. Manufacturing

w3028 Maurice Obstfeld
Intertemporal Dependence, Impatience, and Dynamics

w3014 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

Increasing Returns, Durables and Economic Fluctuations

w3004 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

Building Blocks of Market Clearing Business Cycle Models

w2992 Kenneth D. West
The Sources of Fluctuations in Aggregate Inventories and GNP

r1210 David Romer
What Are the Costs of Excessive Deficits?

r1209 Kevin M. Murphy
Robert H. Topel

The Evolution of Unemployment in the United States: 1968-1985

r1199 Martin Neil Baily
Robert J. Gordon

The Productivity Slowdown, Measurement Issues, and the Explosion of Computer Power

w2982 Robert J. Barro
New Classicals and Keynesians, or the Good Guys and the Bad Guys

w2976 Russell Cooper
John C. Haltiwanger

Macroeconomic Implications of Production Bunching

w2967 Miles S. Kimball
Labor Market Dynamics When Unemployment Is A Worker Discipline Device

w2966 Christina D. Romer
David H. Romer

Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz