NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Economic Fluctuations and Growth Archive

NBER Papers in Economic Fluctuations and Growth


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
Identification with Taylor Rules: A Critical Review

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

w13406 Roger E. A. Farmer
Aggregate Demand and Supply

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

Factor Analysis in a Model with Rational Expectations

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

On the Optimal Choice of a Monetary Policy Instrument

w13397 Jon Faust
Jonathan H. Wright

Comparing Greenbook and Reduced Form Forecasts using a Large Realtime Dataset

w13394 Fatih Guvenen
An Empirical Investigation of Labor Income Processes

w13392 Kerwin Kofi Charles
Erik Hurst
Nikolai Roussanov

Conspicuous Consumption and Race

w13391 Alan S. Blinder
John Morgan

Leadership in Groups: A Monetary Policy Experiment

w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete

w13385 Nicholas Bloom
The Impact of Uncertainty Shocks

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

w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

w13368 Olivier J. Blanchard
Jordi Gali

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

w13366 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Immobility and the Home Bias Puzzle

w13363 Igor Livshits
James MacGee
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 Garcia-Cicco
Roberto Pancrazi
Martin 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 %u201CQuasi-Fixed%u201D 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
Christian 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 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 into 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

c11059 Maurice Obstfeld
Kenneth Rogoff

The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?

c11058 Francisco Rodriguez
Dani Rodrik

Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-National Evidence

c11057 Harold L. Cole
Lee E. Ohanian

Re-Examining the Contributions of Money and Banking Shocks to the U.S. Great Depression

c11056 Stephen Morris
Hyun Song Shin

Rethinking Multiple Equilibria in Macroeconomic Modeling

c11055 Allan Drazen
The Political Business Cycle After 25 Years

c11054 Daron Acemoglu
Joshua Angrist

How Large are Human-Capital Externalities? Evidence from Compulsory-Schooling Laws

c11053 Ben S. Bernanke
Kenneth Rogoff

Abstracts

c11052 Ben S. Bernanke
Kenneth Rogoff

Editorial in "NBER Macroeconomics Annual 2000, Volume 15"

c11051 Ben S. Bernanke
Kenneth Rogoff

Front matter, table of contents

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

w5875 Bennett T. McCallum
Edward Nelson

An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis

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

w6046 Darrel Cohen
Kevin A. Hassett
R. Glenn Hubbard

Inflation and the User Cost of Capital: Does Inflation Still Matter?

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?

w5379 Arturo Estrella
Frederic S. Mishkin

Predicting U.S. Recessions: Financial Variables as Leading Indicators

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 QuiescentEconomies

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

w5980 Matthew D. Shapiro
David W. Wilcox

Alternative Strategies for Aggregating Prices in the CPI

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

w5849 Frederic S. Mishkin
Bank Consolidation: A Central Banker's Perspective

w5336 Susanto Basu
Procyclical Productivity: Increasing Returns or Cyclical Utilization?

w5073 Susanto Basu
John G. Fernald

Are Apparent Productive Spillovers a Figment of Specification Error?

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

w5135 Assaf Razin
Chi-Wa Yuen

Factor Mobility and Income Growth: Two Convergence Hypotheses

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

w5933 Robert E. Hall
Macroeconomic Fluctuations and the Allocation of Time

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

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

w5683 Kevin A. Hassett
R. Glenn Hubbard

Tax Policy and Investment

w5579 Bennett T. McCallum
Inflation Targeting in Canada, New Zealand, Sweden, the United Kingdom, and in General

w5081 Robert J. Gordon
Is There a Tradeoff between Unemployment and Productivity Growth?

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

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

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

w5893 Ben S. Bernanke
Frederic S. Mishkin

Inflation Targeting: A New Framework for Monetary Policy?

w5080 Frederic S. Mishkin
John Simon

An Empirical Examination of the Fisher Effect in Australia

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

w5600 Frederic S. Mishkin
Understanding Financial Crises: A Developing Country Perspective

w5546 Nobuhiro Kiyotaki
Kenneth D. West

Business Fixed Investment and the Recent Business Cycle in Japan

w5059 Theofanis P. Mamuneas
M. Ishaq Nadiri

Public R&D Policies and Cost Behavior of the US Manufacturing Industries

w6048 Jerome Adda
Russell Cooper

Balladurette and Juppette: A Discrete Analysis of Scrapping Subsidies

w6038 Ramon Marimon
Fabrizio Zilibotti

Unemployment vs. Mismatch of Talents: Reconsidering Unemployment Benefits

w5844 Bennett T. McCallum
Neoclassical vs. Endogenous Growth Analysis: An Overview

w5735 Robert J. Gordon
The Time-Varying NAIRU and its Implications for Economic Policy

w5658 Roland Benabou
Inequality and Growth

w5590 Matthew D. Shapiro
David W. Wilcox

Mismeasurement in the Consumer Price Index: An Evaluation

w5049 Jonathan Eaton
Samuel Kortum

Trade in Ideas: Patenting and Productivity in the OECD

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

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

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

w5357 Herschel I. Grossman
Minseong Kim

Predation and Accumulation

w5892 Allan Drazen
Policy Signaling in the Open Economy: A Re-Examination

w5876 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles


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

w5845 Arturo Estrella
Frederic S. Mishkin

Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?

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

w5227 Andrew B. Abel
Avinash K. Dixit
Janice C. Eberly
Robert S. Pindyck

Options, the Value of Capital, and Investment

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

w4311 Roland Benabou
Heterogeneity, Stratification, and Growth

w4160 Ricardo J. Caballero
Robert S. Pindyck

Uncertainty, Investment, and Industry Evolution

t0203 Steven N. Durlauf
Statistical Mechanics Approaches to Socioeconomic Behavior

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?

w5674 Michael Kremer
Charles Morcom

Elephants

w5659 George Evans
Seppo Honkapohja
Paul Romer

Growth Cycles

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

w5597 Bennett T. McCallum
Crucial Issues Concerning Central Bank Independence

w5587 John Y. Campbell
Robert J. Shiller

A Scorecard for Indexed Government Debt

w5583 Roland Benabou
Unequal Societies

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

w5553 Wouter J. Den Haan
The Comovements Between Real Activity and Prices at Different Business Cycle Frequencies

w5464 Frederic S. Mishkin
The Channels of Monetary Transmission: Lessons for Monetary Policy

w4313 Antonio Ciccone
Robert E. Hall

Productivity and the Density of Economic Activity

t0195 Wouter J. Den Haan
Andrew Levin

Inferences from Parametric and Non-Parametric Covariance Matrix Estimation Procedures

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"?

w5263 Laurence Ball
N. Gregory Mankiw

What Do Budget Deficits Do?

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

w5046 Miles S. Kimball
The Quantitative Analytics of the Bas