Are State and Time Dependent Models Really Different?

Fernando E. Alvarez, Francesco Lippi, Juan Passadore

NBER Working Paper No. 22361
Issued in June 2016

---- Acknowledgments ----

First draft, February 2016. Prepared for the 31st NBER Macro Annual meeting. We benefited from the comments of our discussants John Leahy and Greg Kaplan, and of other conference participants. Part of the research for this paper was sponsored by the ERC advanced grant 324008. Joaquin Saldain and Jean Flemming provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Fernando E. Alvarez ----

I have visited, taught, or consulted for the following institutions, where I have received an honorarium and/or have been paid travel expenses:

EIEF, Rome, Italy. As research visitor.

Federal Reserve Bank of Chicago, US. As consultant to the Research Department.

Federal Reserve Bank of Minneapolis, US. As consultant to the Research Department.

European Central Bank, Frankfurt, Germany. As Duisenberg Fellow as regular research visitor to the MPR division.

Toulouse School of Economics, Toulouse, France. As a research visitor.

Cowles Foundation, Yale, US. As a research visitor.

Goldman Sachs, as a Goldman Sachs GMI fellow.

return to bibliography page