NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

Archive of NBER Papers on Economic Fluctuations and Growth Program

browse recent papers

2019
w26594 Richard Hornbeck
Martin Rotemberg

Railroads, Reallocation, and the Rise of American Manufacturing
w26593 Ulrich K. Müller
James H. Stock
Mark W. Watson

An Econometric Model of International Long-run Growth Dynamics
w26588 Andreas Fagereng
Martin Blomhoff Holm
Benjamin Moll
Gisle Natvik

Saving Behavior Across the Wealth Distribution: The Importance of Capital Gains
w26583 Zhengyang Jiang
Hanno Lustig
Stijn Van Nieuwerburgh
Mindy Z. Xiaolan

The U.S. Public Debt Valuation Puzzle
w26580 Patrick J. Kehoe
Pierlauro Lopez
Virgiliu Midrigan
Elena Pastorino

Asset Prices and Unemployment Fluctuations
w26569 Laura Liu
Hyungsik Roger Moon
Frank Schorfheide

Forecasting with a Panel Tobit Model
w26565 Sergio Salgado
Fatih Guvenen
Nicholas Bloom

Skewed Business Cycles
w26561 Saki Bigio
Adrien d'Avernas

Financial Risk Capacity
w26560 Josh Davis
Cristian Fuenzalida
Alan M. Taylor

The Natural Rate Puzzle: Global Macro Trends and the Market-Implied r*
w26558 Alessandro Rebucci
Chang Ma

Capital Controls: A Survey of the New Literature
w26557 Roger Farmer
The Importance of Beliefs in Shaping Macroeconomic Outcomes
w26554 Alexander Bick
Nicola Fuchs-Schündeln
David Lagakos
Hitoshi Tsujiyama

Why are Average Hours Worked Lower in Richer Countries?
w26548 German Cubas
Chinhui Juhn
Pedro Silos

Coordinated Work Schedules and the Gender Wage Gap
w26547 Adrien G. Bilal
Niklas Engbom
Simon Mongey
Giovanni L. Violante

Firm and Worker Dynamics in a Frictional Labor Market
w26538 Lu Zhang
Q-factors and Investment CAPM
w26535 John H. Cochrane
Rethinking Production Under Uncertainty
w26526 Marius Brülhart
Klaus Desmet
Gian-Paolo Klinke

The Shrinking Advantage of Market Potential
w26520 Hui Chen
Zhuo Chen
Zhiguo He
Jinyu Liu
Rengming Xie

Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets
w26519 Simon Jäger
Benjamin Schoefer
Jörg Heining

Labor in the Boardroom
w26507 Christian vom Lehn
Thomas Winberry

The Investment Network, Sectoral Comovement, and the Changing U.S. Business Cycle
w26501 Gabriel Chodorow-Reich
Regional Data in Macroeconomics: Some Advice for Practitioners
w26477 Paul Gaggl
Rowena Gray
Ioana Marinescu
Miguel Morin

Does Electricity Drive Structural Transformation? Evidence from the United States
w26474 Pascal Michaillat
Emmanuel Saez

Beveridgean Unemployment Gap
w26470 Wen-Tai Hsu
Raymond G. Riezman
Ping Wang

Innovation, Growth, and Dynamic Gains from Trade
w26468 Ching-mu Chen
Wan-Jung Cheng
Shin-Kun Peng
Raymond Riezman
Ping Wang

Trade Wars, Technology and Productivity
w26466 Chunzan Wu
Dirk Krueger

Consumption Insurance Against Wage Risk: Family Labor Supply and Optimal Progressive Income Taxation
w26464 Yang You
Kenneth S. Rogoff

Redeemable Platform Currencies
w26461 Chang-Tai Hsieh
Peter J. Klenow
Ishan B. Nath

A Global View of Creative Destruction
w26457 Zhenyu Gao
Michael Sockin
Wei Xiong

Economic Consequences of Housing Speculation
w26451 Alessandro Dovis
Rishabh Kirpalani

Rules without Commitment: Reputation and Incentives
w26450 Laurence M. Ball
Sandeep Mazumder

A Phillips Curve for the Euro Area
w26448 Philippe Aghion
Antonin Bergeaud
Timo Boppart
Peter J. Klenow
Huiyu Li

A Theory of Falling Growth and Rising Rents
w26446 Kenichi Ueda
Somnath Sharma

Listing Advantages Around the World
w26435 Josh Davis
Alan M. Taylor

The Leverage Factor: Credit Cycles and Asset Returns
w26427 Carlos Garriga
Finn E. Kydland
Roman Šustek

MoNK: Mortgages in a New-Keynesian Model
w26425 Chao Fu
Shoya Ishimaru
John Kennan

Government Expenditure on the Public Education System
w26413 George-Marios Angeletos
Karthik Sastry

Inattentive Economies
w26410 Jeremy Greenwood
Nezih Guner
Karen A. Kopecky

The Wife's Protector: A Quantitative Theory Linking Contraceptive Technology with the Decline in Marriage
w26405 Henrik Kleven
The EITC and the Extensive Margin: A Reappraisal
w26402 Sergio de Ferra
Kurt Mitman
Federica Romei

Household Heterogeneity and the Transmission of Foreign Shocks
w26397 Gianluca Benigno
Huigang Chen
Christopher Otrok
Alessandro Rebucci
Eric R. Young

Optimal Policy for Macro-Financial Stability
w26396 Alberto Cavallo
Gita Gopinath
Brent Neiman
Jenny Tang

Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy
w26391 Emmanuel Saez
Benjamin Schoefer
David Seim

Hysteresis from Employer Subsidies
w26378 C. Y. Kelvin Yuen
Ping Wang

Minimum Wage in a Multi-Tier Search and Wage-Posting Model with Cross-Market Substitutions
w26372 Hang Bai
Erica X.N. Li
Chen Xue
Lu Zhang

Does Costly Reversibility Matter for U.S. Public Firms?
w26365 Alan J. Auerbach
Yuriy Gorodnichenko
Daniel Murphy

Macroeconomic Frameworks
w26359 Marek Kapička
Finn Kydland
Carlos Zarazaga

Exploring The Role of Limited Commitment Constraints in Argentina's "Missing Capital"
w26336 Zhao Chen
Xian Jiang
Zhikuo Liu
Juan Carlos Suárez Serrato
Daniel Xu

Tax Policy and Lumpy Investment Behavior: Evidence from China's VAT Reform
w26353 Michael E. Waugh
The Consumption Response to Trade Shocks: Evidence from the US-China Trade War
w26351 Stéphane Dupraz
Emi Nakamura
Jón Steinsson

A Plucking Model of Business Cycles
w26348 Carolyn Sloane
Erik Hurst
Dan Black

A Cross-Cohort Analysis of Human Capital Specialization and the College Gender Wage Gap
w26340 Antoine Arnoud
Fatih Guvenen
Tatjana Kleineberg

Benchmarking Global Optimizers
w26337 Guillermo Ordoñez
Facundo Piguillem

Retirement in the Shadow (Banking)
w26331 Fernando M. Aragon Sanchez
Diego Restuccia
Juan Pablo Rud

Are Small Farms Really more Productive than Large Farms?
w26327 Javier Cravino
Andrei A. Levchenko
Marco Rojas

Population Aging and Structural Transformation
w26324 John V. Leahy
Aditi Thapar

Demographic Effects on the Impact of Monetary Policy
w26318 William Easterly
In Search of Reforms for Growth: New Stylized Facts on Policy and Growth Outcomes
w26308 Francesco Bianchi
Thilo Kind
Howard Kung

Threats to Central Bank Independence: High-Frequency Identification with Twitter
w26307 Javier Bianchi
Pablo Ottonello
Ignacio Presno

Fiscal Stimulus under Sovereign Risk
w26302 Jesús Fernández-Villaverde
Samuel Hurtado
Galo Nuño

Financial Frictions and the Wealth Distribution
w26301 Job Boerma
Loukas Karabarbounis

Labor Market Trends and the Changing Value of Time
w26297 Ṣebnem Kalemli-Özcan
U.S. Monetary Policy and International Risk Spillovers
w26296 Daron Acemoglu
Ali Makhdoumi
Azarakhsh Malekian
Asuman Ozdaglar

Too Much Data: Prices and Inefficiencies in Data Markets
w26290 Carolin Pflueger
Emil Siriwardane
Adi Sunderam

Financial Market Risk Perceptions and the Macroeconomy
w26284 Fatih Guvenen
Gueorgui Kambourov
Burhanettin Kuruscu
Sergio Ocampo-Diaz
Daphne Chen

Use It or Lose It: Efficiency Gains from Wealth Taxation
w26281 Richard Blundell
Ran Gu
Søren Leth-Petersen
Hamish Low
Costas Meghir

Durables and Lemons: Private Information and the Market for Cars
w26279 Francesco Bianchi
Leonardo Melosi
Matthias Rottner

Hitting the Elusive Inflation Target
w26267 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Felipe Schwartzman

Cognitive Hubs and Spatial Redistribution
w26262 Òscar Jordà
Alan M. Taylor

Riders on the Storm
w26260 Charles I. Jones
Christopher Tonetti

Nonrivalry and the Economics of Data
w26253 Aditya Aladangady
Shifrah Aron-Dine
Wendy Dunn
Laura Feiveson
Paul Lengermann
Claudia Sahm

From Transactions Data to Economic Statistics: Constructing Real-time, High-frequency, Geographic Measures of Consumer Spending
w26249 Jordi Galí
The Effects of a Money-Financed Fiscal Stimulus
w26248 Ravi Bansal
Mariano Max Croce
Wenxi Liao
Samuel Rosen

Uncertainty-Induced Reallocations and Growth
w26243 Steven J. Davis
Rising Policy Uncertainty
w26239 Gregor Jarosch
Jan Sebastian Nimczik
Isaac Sorkin

Granular Search, Market Structure, and Wages
w26237 Francesco D’Acunto
Ulrike Malmendier
Juan Ospina
Michael Weber

Exposure to Daily Price Changes and Inflation Expectations
w26236 Fernando Arce
Julien Bengui
Javier Bianchi

A Macroprudential Theory of Foreign Reserve Accumulation
w26231 Simon Mongey
Giovanni L. Violante

Macro Recruiting Intensity from Micro Data
w26229 Markus K. Brunnermeier
Ricardo Reis

A Crash Course on the Euro Crisis
w26216 Adam M. Guren
Timothy J. McQuade

How Do Foreclosures Exacerbate Housing Downturns?
w26212 George A. Alessandria
Horag Choi

Entry, Trade, and Exporting over the Cycle
w26210 Jesús Fernández-Villaverde
Federico Mandelman
Yang Yu
Francesco Zanetti

Search Complementarities, Aggregate Fluctuations, and Fiscal Policy
w26198 Łukasz Rachel
Lawrence H. Summers

On Secular Stagnation in the Industrialized World
w26196 Ufuk Akcigit
Emin Dinlersoz
Jeremy Greenwood
Veronika Penciakova

Synergizing Ventures
w26181 Kjetil Storesletten
Bo Zhao
Fabrizio Zilibotti

Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
w26175 Alisdair McKay
Johannes F. Wieland

Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy
w26167 Matthew E. Kahn
Kamiar Mohaddes
Ryan N.C. Ng
M. Hashem Pesaran
Mehdi Raissi
Jui-Chung Yang

Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
w26165 Stefania Albanesi
Domonkos F. Vamossy

Predicting Consumer Default: A Deep Learning Approach
w26154 Joao Guerreiro
Sergio Rebelo
Pedro Teles

What is the Optimal Immigration Policy? Migration, Jobs and Welfare
w26143 Alessandra Fogli
Veronica Guerrieri

The End of the American Dream? Inequality and Segregation in US Cities
w26142 Victor Couture
Cecile Gaubert
Jessie Handbury
Erik Hurst

Income Growth and the Distributional Effects of Urban Spatial Sorting
w26141 Jaume Ventura
Sharing a Government
w26136 Gilbert Cette
Lorraine Koehl
Thomas Philippon

Labor Shares in Some Advanced Economies
w26134 Brent Neiman
Joseph S. Vavra

The Rise of Niche Consumption
w26131 Christopher D. Carroll
Jiri Slacalek
Martin Sommer

Dissecting Saving Dynamics: Measuring Wealth, Precautionary, and Credit Effects
w26123 Adrien Auclert
Bence Bardóczy
Matthew Rognlie
Ludwig Straub

Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models
w26117 Ruediger Bachmann
Gabriel Ehrlich
Ying Fan
Dimitrije Ruzic
Benjamin Leard

Firms and Collective Reputation: a Study of the Volkswagen Emissions Scandal
w26116 Gabriel Ehrlich
John Haltiwanger
Ron Jarmin
David Johnson
Matthew D. Shapiro

Re-engineering Key National Economic Indicators
w26108 David Baqaee
Emmanuel Farhi

Networks, Barriers, and Trade
w26106 Olivier Coibion
Dimitris Georgarakos
Yuriy Gorodnichenko
Maarten van Rooij

How Does Consumption Respond to News about Inflation? Field Evidence from a Randomized Control Trial
w26102 Moritz Lenel
Monika Piazzesi
Martin Schneider

The Short Rate Disconnect in a Monetary Economy
w26090 John H. Cochrane
The Value of Government Debt
w26087 Pamela Giustinelli
Matthew D. Shapiro

SeaTE: Subjective ex ante Treatment Effect of Health on Retirement
w26076 Cristina Arellano
Xavier Mateos-Planas
José-Víctor Ríos-Rull

Partial Default
w26074 Tri Vi Dang
Gary B. Gorton
Bengt R. Holmstrom

The Information View of Financial Crises
w26071 Christopher L. House
Christian Proebsting
Linda L. Tesar

Regional Effects of Exchange Rate Fluctuations
w26067 Eric R. Sims
Jing Cynthia Wu

The Four Equation New Keynesian Model
w26063 Anmol Bhandari
Serdar Birinci
Ellen McGrattan
Kurt See

What Do Survey Data Tell Us about US Businesses?
w26060 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

Security Analysis: An Investment Perspective
w26057 Susanto Basu
Are Price-Cost Markups Rising in the United States? A Discussion of the Evidence
w26053 Lilia Maliar
John B. Taylor

Forward Guidance: Is It Useful Away from the Lower Bound?
w26046 Andrew Lilley
Matteo Maggiori
Brent Neiman
Jesse Schreger

Exchange Rate Reconnect
w26040 Eric R. Sims
Jing Cynthia Wu

Evaluating Central Banks' Tool Kit: Past, Present, and Future
w26033 Tomaz Cajner
Leland D. Crane
Ryan A. Decker
Adrian Hamins-Puertolas
Christopher Kurz

Improving the Accuracy of Economic Measurement with Multiple Data Sources: The Case of Payroll Employment Data
w26032 David W. Berger
Luigi Bocola
Alessandro Dovis

Imperfect Risk-Sharing and the Business Cycle
w26031 Ricardo J. Caballero
Gunes Kamber

On the Global Impact of Risk-off Shocks and Policy-put Frameworks
w26029 Michael Bailey
Patrick Farrell
Theresa Kuchler
Johannes Stroebel

Social Connectedness in Urban Areas
w26026 Joseba Martinez
Thomas Philippon
Markus Sihvonen

Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets
w26019 Michael J. Pries
Richard Rogerson

Declining Worker Turnover: the Role of Short Duration Employment Spells
w26003 David E. Bloom
David Canning
Rainer Kotschy
Klaus Prettner
Johannes J. Schünemann

Health and Economic Growth: Reconciling the Micro and Macro Evidence
w26000 Juan Carlos Conesa
Timothy J. Kehoe
Vegard M. Nygaard
Gajendran Raveendranathan

Implications of Increasing College Attainment for Aging in General Equilibrium
w25999 Dimitris Christelis
Dimitris Georgarakos
Tullio Jappelli
Luigi Pistaferri
Maarten van Rooij

Wealth Shocks and MPC Heterogeneity
w25998 Pedro Bento
Diego Restuccia

The Role of Nonemployers in Business Dynamism and Aggregate Productivity
w25992 Federico Droller
Martin Fiszbein

Staple Products, Linkages, and Development: Evidence from Argentina
w25987 James H. Stock
Mark W. Watson

Slack and Cyclically Sensitive Inflation
w25977 Ricardo J. Caballero
Alp Simsek

Prudential Monetary Policy
w25968 Chang-Tai Hsieh
Esteban Rossi-Hansberg

The Industrial Revolution in Services
w25965 George A. Alessandria
Shafaat Y. Khan
Armen Khederlarian

Taking Stock of Trade Policy Uncertainty: Evidence from China's Pre-WTO Accession
w25959 Gabriel Chodorow-Reich
Plamen T. Nenov
Alp Simsek

Stock Market Wealth and the Real Economy: A Local Labor Market Approach
w25956 David Altig
Jose Maria Barrero
Nicholas Bloom
Steven J. Davis
Brent H. Meyer
Nicholas Parker

Surveying Business Uncertainty
w25952 Corina Boar
Virgiliu Midrigan

Markups and Inequality
w25931 Nir Jaimovich
Sergio Rebelo
Arlene Wong
Miao Ben Zhang

Trading Up and the Skill Premium
w25930 Richard K. Crump
Stefano Eusepi
Marc Giannoni
Ayşegül Şahin

A Unified Approach to Measuring u*
w25927 Douglas A. Irwin
Does Trade Reform Promote Economic Growth? A Review of Recent Evidence
w25923 Matthias Kehrig
Nicolas Vincent

Good Dispersion, Bad Dispersion
w25906 Jack Favilukis
Pierre Mabille
Stijn Van Nieuwerburgh

Affordable Housing and City Welfare
w25900 Gabriel Chodorow-Reich
Loukas Karabarbounis
Rohan Kekre

The Macroeconomics of the Greek Depression
w25899 Rishab Guha
Serena Ng

A Machine Learning Analysis of Seasonal and Cyclical Sales in Weekly Scanner Data
w25887 Jérôme Dugast
Semih Üslü
Pierre-Olivier Weill

A Theory of Participation in OTC and Centralized Markets
w25879 Roger E.A. Farmer
The Indeterminacy School in Macroeconomics
w25874 Fatih Karahan
Benjamin Pugsley
Ayşegül Şahin

Demographic Origins of the Startup Deficit
w25869 Nicolas Crouzet
Janice C. Eberly

Understanding Weak Capital Investment: the Role of Market Concentration and Intangibles
w25868 Alonso de Gortari
Disentangling Global Value Chains
w25867 Andrew Foerster
Andreas Hornstein
Pierre-Daniel Sarte
Mark W. Watson

Aggregate Implications of Changing Sectoral Trends
w25843 Michael Bailey
Drew M. Johnston
Theresa Kuchler
Johannes Stroebel
Arlene Wong

Peer Effects in Product Adoption
w25839 Chong-En Bai
Chang-Tai Hsieh
Zheng Michael Song

Special Deals with Chinese Characteristics
w25838 Yosef Bonaparte
Russell Cooper
Mengli Sha

Rationalizing Trading Frequency and Returns: Maybe Trading is Good for You
w25826 Robert J. Barro
Double-Counting of Investment
w25824 Christoph E. Boehm
Aaron Flaaen
Nitya Pandalai-Nayar

Multinationals, Offshoring and the Decline of U.S. Manufacturing
w25821 Stefan Steinerberger
Aleh Tsyvinski

Tax Mechanisms and Gradient Flows
w25820 Davide Debortoli
Jordi Galí
Luca Gambetti

On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint
w25811 John H. Cochrane
The Fiscal Roots of Inflation
w25808 Saki Bigio
Galo Nuño
Juan Passadore

Debt-Maturity Management with Liquidity Costs
w25804 Stefania Garetto
Lindsay Oldenski
Natalia Ramondo

Multinational Expansion in Time and Space
w25801 Mi Luo
Simon Mongey

Assets and Job Choice: Student Debt, Wages and Amenities
w25793 Matthias Schlegl
Christoph Trebesch
Mark L.J. Wright

The Seniority Structure of Sovereign Debt
w25792 Peter Hooper
Frederic S. Mishkin
Amir Sufi

Prospects for Inflation in a High Pressure Economy: Is the Phillips Curve Dead or is It Just Hibernating?
w25790 Felipe Benguria
Alan M. Taylor

After the Panic: Are Financial Crises Demand or Supply Shocks? Evidence from International Trade
w25783 Been-Lon Chen
Hung-Ju Chen
Ping Wang

Long-Run Tax Incidence in a Human Capital-based Endogenous Growth Model with Labor-Market Frictions
w25782 Pierre-Olivier Gourinchas
Hélène Rey
Maxime Sauzet

The International Monetary and Financial System
w25780 Tasso Adamopoulos
Diego Restuccia

Land Reform and Productivity: A Quantitative Analysis with Micro Data
w25778 James D. Hamilton
Measuring Global Economic Activity
w25769 Daniel L. Greenwald
Martin Lettau
Sydney C. Ludvigson

How the Wealth Was Won: Factors Shares as Market Fundamentals
w25768 Christina D. Romer
David H. Romer

Fiscal Space and the Aftermath of Financial Crises: How It Matters and Why
w25764 Eric T. Swanson
Implications of Labor Market Frictions for Risk Aversion and Risk Premia
w25761 Daniel Cooper
María José Luengo-Prado
Jonathan A. Parker

The Local Aggregate Effects of Minimum Wage Increases
w25757 Michael Gelman
Shachar Kariv
Matthew D. Shapiro
Dan Silverman

Rational Illiquidity and Consumption: Theory and Evidence from Income Tax Withholding and Refunds
w25756 Ufuk Akcigit
Sina T. Ates

What Happened to U.S. Business Dynamism?
w25755 Ufuk Akcigit
Sina T. Ates

Ten Facts on Declining Business Dynamism and Lessons from Endogenous Growth Theory
w25754 Wei Chen
Xilu Chen
Chang-Tai Hsieh
Zheng Song

A Forensic Examination of China's National Accounts
w25744 Stefano Giglio
Matteo Maggiori
Johannes Stroebel
Stephen Utkus

Five Facts about Beliefs and Portfolios
w25743 Roger Farmer
Giovanni Nicolò

Some International Evidence for Keynesian Economics without the Phillips Curve
w25741 Kevin Hjortshøj O'Rourke
Ahmed Rahman
Alan M. Taylor

Trade, Technology, and the Great Divergence
w25734 Robert F. Engle III
Stefano Giglio
Bryan T. Kelly
Heebum Lee
Johannes Stroebel

Hedging Climate Change News
w25732 Paolo Acciari
Alberto Polo
Giovanni L. Violante

"And Yet It Moves": Intergenerational Mobility in Italy
w25725 Charles I. Jones
Taxing Top Incomes in a World of Ideas
w25720 Scott R. Baker
Nicholas Bloom
Steven J. Davis
Kyle J. Kost

Policy News and Stock Market Volatility
w25719 David W. Berger
Kyle F. Herkenhoff
Simon Mongey

Labor Market Power
w25714 Charles W. Calomiris
Harry Mamaysky

Monetary Policy and Exchange Rate Returns: Time-Varying Risk Regimes
w25707 Andrew Caplin
John V. Leahy

Wishful Thinking
w25703 Robert J. Gordon
Hassan Sayed

The Industry Anatomy of the Transatlantic Productivity Growth Slowdown
w25702 Itzhak Ben-David
Pascal Towbin
Sebastian Weber

Inferring Expectations from Observables: Evidence from the Housing Market
w25698 Adriano A. Rampini
S. Viswanathan
Guillaume Vuillemey

Risk Management in Financial Institutions
w25695 Erik Brynjolfsson
Avinash Collis
W. Erwin Diewert
Felix Eggers
Kevin J. Fox

GDP-B: Accounting for the Value of New and Free Goods in the Digital Economy
w25690 Ravi Bansal
Shane Miller
Dongho Song
Amir Yaron

The Term Structure of Equity Risk Premia
w25688 David Baqaee
Emmanuel Farhi

A Short Note on Aggregating Productivity
w25685 Adrien Auclert
Will S. Dobbie
Paul Goldsmith-Pinkham

Macroeconomic Effects of Debt Relief: Consumer Bankruptcy Protections in the Great Recession
w25667 Zheng Liu
Pengfei Wang
Tao Zha

A Theory of Housing Demand Shocks
w25662 Eduardo Dávila
Cecilia Parlatore

Trading Costs and Informational Efficiency
w25660 Wyatt J. Brooks
Joseph P. Kaboski
Yao Amber Li
Wei Qian

Exploitation of Labor? Classical Monopsony Power and Labor's Share
w25658 Eric M. Leeper
Campbell B. Leith
Ding Liu

Optimal Time-Consistent Monetary, Fiscal and Debt Maturity Policy
w25655 Stefania Albanesi
Changing Business Cycles: The Role of Women's Employment
w25653 Òscar Jordà
Moritz Schularick
Alan M. Taylor

The Total Risk Premium Puzzle
w25629 Margaret M. Jacobson
Eric M. Leeper
Bruce Preston

Recovery of 1933
w25628 John Grigsby
Erik Hurst
Ahu Yildirmaz

Aggregate Nominal Wage Adjustments: New Evidence from Administrative Payroll Data
w25625 Robert E. Hall
Marianna Kudlyak

Job-Finding and Job-Losing: A Comprehensive Model of Heterogeneous Individual Labor-Market Dynamics
w25621 Olivier J. Blanchard
Public Debt and Low Interest Rates
w25617 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Optimal Progressivity with Age-Dependent Taxation
w25610 Paul Dolfen
Liran Einav
Peter J. Klenow
Benjamin Klopack
Jonathan D. Levin
Laurence Levin
Wayne Best

Assessing the Gains from E-Commerce
w25609 Germán Gutiérrez
Callum Jones
Thomas Philippon

Entry Costs and the Macroeconomy
w25606 Isaac Baley
Laura Veldkamp
Michael E. Waugh

Might Global Uncertainty Promote International Trade?
w25599 Daniel Sichel
Eric von Hippel

Household Innovation, R&D, and New Measures of Intangible Capital
w25585 Seth G. Benzell
Erik Brynjolfsson

Digital Abundance and Scarce Genius: Implications for Wages, Interest Rates, and Growth
w25573 Hui Chen
Scott Joslin
Sophie X. Ni

Demand for Crash Insurance, Intermediary Constraints, and Risk Premia in Financial Markets
w25571 Marcus Hagedorn
Iourii Manovskii
Kurt Mitman

The Fiscal Multiplier
w25563 George A. Alessandria
Horag Choi

The Dynamics of the U.S. Trade Balance and Real Exchange Rate: The J Curve and Trade Costs?
w25558 Daniel E. Sichel
Productivity Measurement: Racing to Keep Up
w25550 Marcela Eslava
John C. Haltiwanger
Alvaro Pinzón

Job creation in Colombia vs the U.S.: "up or out dynamics" meets "the life cycle of plants".
w25546 Daniel G. Garrett
Eric C. Ohrn
Juan Carlos Suárez Serrato

Tax Policy and Local Labor Market Behavior
w25540 Victor Stango
Jonathan Zinman

We are all Behavioral, More or Less: Measuring and Using Consumer-level Behavioral Sufficient Statistics
w25536 Robert J. Shiller
Narratives about Technology-Induced Job Degradations Then and Now
w25531 Valerie A. Ramey
Ten Years after the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?
w25529 Germán Gutiérrez
Thomas Philippon

Fading Stars
w25523 Timothy J. Kehoe
Carlos Gustavo Machicado
José Peres-Cajías

The Monetary and Fiscal History of Bolivia, 1960-2017
w25520 Eduardo Dávila
Benjamin M. Hébert

Optimal Corporate Taxation Under Financial Frictions
w25519 John B. Donaldson
Rajnish Mehra

Average Crossing Time: An Alternative Characterization of Mean Aversion and Reversion
w25515 Maryam Farboodi
Roxana Mihet
Thomas Philippon
Laura Veldkamp

Big Data and Firm Dynamics
w25511 Olivier Coibion
Yuriy Gorodnichenko
Mauricio Ulate

Is Inflation Just Around the Corner? The Phillips Curve and Global Inflationary Pressures
w25508 Robert J. Barro
Brian Wheaton

Incorporation, and Productivity
w25505 Ernest Liu
Atif Mian
Amir Sufi

Low Interest Rates, Market Power, and Productivity Growth
w25502 Anders Jensen
Employment Structure and the Rise of the Modern Tax System
w25498 Finn Kydland
Nick Pretnar

The Costs and Benefits of Caring: Aggregate Burdens of an Aging Population
w25496 Francesco D’Acunto
Daniel Hoang
Maritta Paloviita
Michael Weber

IQ, Expectations, and Choice
w25493 Alexander M. Bell
Raj Chetty
Xavier Jaravel
Neviana Petkova
John Van Reenen

Do Tax Cuts Produce More Einsteins? The Impacts of Financial Incentives vs. Exposure to Innovation on the Supply of Inventors
w25492 Simon Jäger
Benjamin Schoefer
Josef Zweimüller

Marginal Jobs and Job Surplus: A Test of the Efficiency of Separations
w25490 Guillaume Blanc
Romain Wacziarg

Change and Persistence in the Age of Modernization: Saint-Germain-d'Anxure 1730-1895
w25482 Olivier Coibion
Yuriy Gorodnichenko
Michael Weber

Monetary Policy Communications and their Effects on Household Inflation Expectations
w25478 Rava Azeredo da Silveira
Michael Woodford

Noisy Memory and Over-Reaction to News
w25477 Ana Babus
Kinda Cheryl Hachem

Markets for Financial Innovation
w25476 Jordi Galí
Luca Gambetti

Has the U.S. Wage Phillips Curve Flattened? A Semi-Structural Exploration
w25470 Ekaterina S. Jardim
Gary Solon
Jacob L. Vigdor

How Prevalent Is Downward Rigidity in Nominal Wages? Evidence from Payroll Records in Washington State
w25469 Emmanuel Farhi
Matteo Maggiori

China vs. U.S.: IMS Meets IPS
w25466 Steven J. Davis
John C. Haltiwanger

Dynamism Diminished: The Role of Housing Markets and Credit Conditions
w25465 Gabriel Ehrlich
John C. Haltiwanger
Ron S. Jarmin
David Johnson
Matthew D. Shapiro

Minding Your Ps and Qs: Going from Micro to Macro in Measuring Prices and Quantities
w25463 Marina Halac
Pierre Yared

Fiscal Rules and Discretion under Limited Enforcement
w25462 Gabriel Zucman
Global Wealth Inequality
w25459 Laura Alfaro
Gonzalo Asis
Anusha Chari
Ugo Panizza

Corporate Debt, Firm Size and Financial Fragility in Emerging Markets
w25458 Laura Alfaro
Manuel García-Santana
Enrique Moral-Benito

On the Direct and Indirect Real Effects of Credit Supply Shocks
w25457 Alan J. Auerbach
Yuriy Gorodnichenko
Daniel Murphy

Local Fiscal Multipliers and Fiscal Spillovers in the United States
w25452 Gary Gorton
Toomas Laarits
Tyler Muir

1930: First Modern Crisis
w25447 Jonathan I. Dingel
Kyle C. Meng
Solomon M. Hsiang

Spatial Correlation, Trade, and Inequality: Evidence from the Global Climate
w25445 Roger E.A. Farmer
Pawel Zabczyk

A Requiem for the Fiscal Theory of the Price Level
w25442 Matthew Smith
Danny Yagan
Owen M. Zidar
Eric Zwick

Capitalists in the Twenty-First Century
w25433 Eduardo Dávila
Cecilia Parlatore

Volatility and Informativeness
w25424 Dean Corbae
Pablo D'Erasmo

Capital Requirements in a Quantitative Model of Banking Industry Dynamics
w25421 Joao Ayres
Marcio Garcia
Diogo A. Guillén
Patrick J. Kehoe

The Monetary and Fiscal History of Brazil, 1960-2016
w25418 Gregor Jarosch
Ezra Oberfield
Esteban Rossi-Hansberg

Learning from Coworkers
w25417 Peter Ganong
Pascal J. Noel

Consumer Spending During Unemployment: Positive and Normative Implications
w25416 Gauti B. Eggertsson
Ragnar E. Juelsrud
Lawrence H. Summers
Ella Getz Wold

Negative Nominal Interest Rates and the Bank Lending Channel
2018
w25412 Olivier Coibion
Yuriy Gorodnichenko
Tiziano Ropele

Inflation Expectations and Firm Decisions: New Causal Evidence
w25410 Matteo Maggiori
Brent Neiman
Jesse Schreger

The Rise of the Dollar and Fall of the Euro as International Currencies
w25404 George-Marios Angeletos
Karthik A. Sastry

Managing Expectations: Instruments vs. Targets
w25393 Michael W. Elsby
Gary Solon

How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips
w25386 Francesco Bianchi
Howard Kung
Mikhail Tirskikh

The Origins and Effects of Macroeconomic Uncertainty
w25385 Pablo Kurlat
Deposit Spreads and the Welfare Cost of Inflation
w25382 Hugo Hopenhayn
Julian Neira
Rish Singhania

From Population Growth to Firm Demographics: Implications for Concentration, Entrepreneurship and the Labor Share
w25380 Stephanie Schmitt-Grohé
Martín Uribe

Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks
w25376 Marco Bassetto
Zhen Huo
José-Víctor Ríos-Rull

Organizational Equilibrium with Capital
w25370 Gabriel Chodorow-Reich
Gita Gopinath
Prachi Mishra
Abhinav Narayanan

Cash and the Economy: Evidence from India's Demonetization
w25363 Daron Acemoglu
Martin Kaae Jensen

Equilibrium Analysis in the Behavioral Neoclassical Growth Model
w25350 Ross Levine
Yona Rubinstein

Selection into Entrepreneurship and Self-Employment
w25347 Christopher L. House
Christian Proebsting
Linda L. Tesar

Quantifying the Benefits of Labor Mobility in a Currency Union
w25340 Javier Bianchi
Jorge Mondragon

Monetary Independence and Rollover Crises
w25336 Itzhak Ben-David
Elyas Fermand
Camelia M. Kuhnen
Geng Li

Expectations Uncertainty and Household Economic Behavior
w25325 Xavier Giroud
Holger M. Mueller

Firm Leverage and Regional Business Cycles
w25321 Andrew Atkeson
Ariel Burstein
Manolis Chatzikonstantinou

Transitional Dynamics in Aggregate Models of Innovative Investment
w25317 Harjoat S. Bhamra
Christian Dorion
Alexandre Jeanneret
Michael Weber

Low Inflation: High Default Risk AND High Equity Valuations
w25311 Masao Fukui
Emi Nakamura
Jón Steinsson

Women,Wealth Effects, and Slow Recoveries
w25303 Ernesto Pastén
Raphael Schoenle
Michael Weber

The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy
w25296 Wei Xiong
The Mandarin Model of Growth
w25294 Andreas I. Mueller
Johannes Spinnewijn
Giorgio Topa

Job Seekers' Perceptions and Employment Prospects: Heterogeneity, Duration Dependence and Bias
w25293 David Baqaee
Emmanuel Farhi

The Microeconomic Foundations of Aggregate Production Functions
w25289 Oded Galor
Ömer Özak
Assaf Sarid

Geographical Roots of the Coevolution of Cultural and Linguistic Traits
w25288 Kurt G. Lunsford
Kenneth D. West

Some Evidence on Secular Drivers of U.S. Safe Real Rates
w25285 Josue Cox
Sydney C. Ludvigson

Drivers of the Great Housing Boom-Bust: Credit Conditions, Beliefs, or Both?
w25282 Emmanuel Farhi
François Gourio

Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia
w25278 Stelios Michalopoulos
Elias Papaioannou

Historical Legacies and African Development
w25276 Riccardo Colacito
Mariano Max Croce
Yang Liu
Ivan Shaliastovich

Volatility Risk Pass-through
w25275 Matthias Kehrig
Nicolas Vincent

The Micro-Level Anatomy of the Labor Share Decline
w25273 Oded Galor
Viacheslav Savitskiy

Climatic Roots of Loss Aversion
w25269 John Ameriks
Gábor Kézdi
Minjoon Lee
Matthew D. Shapiro

Heterogeneity in Expectations, Risk Tolerance, and Household Stock Shares: The Attenuation Puzzle
w25266 Bryan Kelly
Dimitris Papanikolaou
Amit Seru
Matt Taddy

Measuring Technological Innovation over the Long Run
w25251 Robert E. Hall
Using Empirical Marginal Cost to Measure Market Power in the US Economy
w25242 Wen Chen
Bart Los
Marcel P. Timmer

Factor Incomes in Global Value Chains: The Role of Intangibles
w25236 Kory Kroft
Fabian Lange
Matthew J. Notowidigdo
Matthew Tudball

Long Time Out: Unemployment and Joblessness in Canada and the United States
w25230 Simon Jäger
Benjamin Schoefer
Samuel G. Young
Josef Zweimüller

Wages and the Value of Nonemployment
w25226 Emin Dinlersoz
Sebnem Kalemli-Ozcan
Henry Hyatt
Veronika Penciakova

Leverage over the Life Cycle and Implications for Firm Growth and Shock Responsiveness
w25222 Kaiji Chen
Tao Zha

Macroeconomic Effects of China's Financial Policies
w25220 Guillaume Rocheteau
Pierre-Olivier Weill
Tsz-Nga Wong

An Heterogeneous-Agent New-Monetarist Model with an Application to Unemployment
w25212 Scott R. Baker
Lorenz Kueng
Leslie McGranahan
Brian T. Melzer

Do Household Finances Constrain Unconventional Fiscal Policy?
w25210 Eduardo Dávila
Cecilia Parlatore

Identifying Price Informativeness
w25200 Daniel J. Benjamin
Errors in Probabilistic Reasoning and Judgment Biases
w25196 João Granja
Christian Leuz
Raghuram Rajan

Going the Extra Mile: Distant Lending and Credit Cycles
w25189 Solomon Hsiang
Robert E. Kopp

An Economist's Guide to Climate Change Science
w25188 David Byrne
Carol Corrado
Daniel E. Sichel

The Rise of Cloud Computing: Minding Your P's, Q's and K's
w25180 Jing Cynthia Wu
Fan Dora Xia

Negative Interest Rate Policy and the Yield Curve
w25179 Kyle Herkenhoff
Jeremy Lise
Guido Menzio
Gordon M. Phillips

Production and Learning in Teams
w25177 Hannah Druckenmiller
Solomon Hsiang

Accounting for Unobservable Heterogeneity in Cross Section Using Spatial First Differences
w25171 Ying Feng
David Lagakos
James E. Rauch

Unemployment and Development
w25170 Gabriel Garber
Atif Mian
Jacopo Ponticelli
Amir Sufi

Household Debt and Recession in Brazil
w25164 Dani Rodrik
New Technologies, Global Value Chains, and Developing Economies
w25157 David W. Berger
Konstantin Milbradt
Fabrice Tourre
Joseph Vavra

Mortgage Prepayment and Path-Dependent Effects of Monetary Policy
w25152 Martin Eichenbaum
Sergio Rebelo
Arlene Wong

State Dependent Effects of Monetary Policy: the Refinancing Channel
w25148 Erik Brynjolfsson
Daniel Rock
Chad Syverson

The Productivity J-Curve: How Intangibles Complement General Purpose Technologies
w25147 Raj Chetty
John N. Friedman
Nathaniel Hendren
Maggie R. Jones
Sonya R. Porter

The Opportunity Atlas: Mapping the Childhood Roots of Social Mobility
w25136 Ufuk Akcigit
Salomé Baslandze
Francesca Lotti

Connecting to Power: Political Connections, Innovation, and Firm Dynamics
w25123 Eric T. Swanson
The Federal Reserve Is Not Very Constrained by the Lower Bound on Nominal Interest Rates
w25119 Michael Kremer
Christopher M. Snyder

Worst-Case Bounds on R&D and Pricing Distortions: Theory with an Application Assuming Consumer Values Follow the World Income Distribution
w25118 Andreas I. Mueller
Damian Osterwalder
Josef Zweimüller
Andreas Kettemann

Vacancy Durations and Entry Wages: Evidence from Linked Vacancy-Employer-Employee Data
w25108 Maarten Meeuwis
Jonathan A. Parker
Antoinette Schoar
Duncan I. Simester

Belief Disagreement and Portfolio Choice
w25106 Ricardo Lagos
Shengxing Zhang

Turnover Liquidity and the Transmission of Monetary Policy
w25103 Arnaud Costinot
Iván Werning

Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation
w25102 Laura Liu
Hyungsik Roger Moon
Frank Schorfheide

Forecasting with Dynamic Panel Data Models
w25089 Martín Uribe
The Neo-Fisher Effect: Econometric Evidence from Empirical and Optimizing Models
w25086 Brian Baugh
Itzhak Ben-David
Hoonsuk Park
Jonathan A. Parker

Asymmetric Consumption Smoothing
w25085 Andrea L. Eisfeldt
Yu Shi

Capital Reallocation
w25082 Miguel Ampudia
Russell Cooper
Julia Le Blanc
Guozhong Zhu

MPC Heterogeneity in Europe: Sources and Policy Implications
w25081 Fabian Kindermann
Lukas Mayr
Dominik Sachs

Inheritance Taxation and Wealth Effects on the Labor Supply of Heirs
w25078 Scott R. Baker
Lorenz Kueng
Steffen Meyer
Michaela Pagel

Measurement Error in Imputed Consumption
w25074 Andri Chassamboulli
Giovanni Peri

The Economic Effect of Immigration Policies: Analyzing and Simulating the U.S. Case
w25073 Pablo D'Erasmo
Enrique G. Mendoza

History Remembered: Optimal Sovereign Default on Domestic and External Debt
w25071 Nelson Lind
Natalia Ramondo

Innovation, Knowledge Diffusion, and Globalization
w25066 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Nicholas Trachter

Diverging Trends in National and Local Concentration
w25065 David J. Deming
Kadeem L. Noray

STEM Careers and the Changing Skill Requirements of Work
w25054 Efraim Benmelech
Nittai Bergman

Debt, Information, and Illiquidity
w25048 Julien Bengui
Javier Bianchi

Macroprudential Policy with Leakages
w25031 Sergio Rebelo
Neng Wang
Jinqiang Yang

Rare Disasters, Financial Development, and Sovereign Debt
w25020 Adrien Auclert
Matthew Rognlie
Ludwig Straub

The Intertemporal Keynesian Cross
w25011 Marina Azzimonti
Vincenzo Quadrini

International Spillovers and 'Ex-ante' Efficient Bailouts
w25005 Dean Corbae
Andrew Glover

Employer Credit Checks: Poverty Traps versus Matching Efficiency
w24989 Björn Richter
Moritz Schularick
Ilhyock Shim

The Costs of Macroprudential Policy
w24988 John J. Conlon
Laura Pilossoph
Matthew Wiswall
Basit Zafar

Labor Market Search With Imperfect Information and Learning
w24987 Olivier Coibion
Yuriy Gorodnichenko
Saten Kumar
Jane Ryngaert

Do You Know That I Know That You Know...? Higher-Order Beliefs in Survey Data
w24985 Yongsung Chang
Sun-Bin Kim
Kyooho Kwon
Richard Rogerson

Individual and Aggregate Labor Supply in Heterogeneous Agent Economies with Intensive and Extensive Margins
w24984 Jess Benhabib
Xuewen Liu
Pengfei Wang

Financial Markets, the Real Economy, and Self-fulfilling Uncertainties
w24981 Luigi Bocola
Gideon Bornstein
Alessandro Dovis

Quantitative Sovereign Default Models and the European Debt Crisis
w24979 Pierre Yared
Rising Government Debt: Causes and Solutions for a Decades-Old Trend
w24978 Mel Win Khaw
Ziang Li
Michael Woodford

Cognitive Imprecision and Small-Stakes Risk Aversion
w24973 Gabriel Chodorow-Reich
Andra Ghent
Valentin Haddad

Asset Insulators
w24972 Hengjie Ai
Anmol Bhandari

Asset Pricing with Endogenously Uninsurable Tail Risk
w24971 Pascal Michaillat
Emmanuel Saez

Resolving New Keynesian Anomalies with Wealth in the Utility Function
w24968 Pedro Bento
Diego Restuccia

On Average Establishment Size across Sectors and Countriesy
w24967 Francis X. Diebold
Minchul Shin

Machine Learning for Regularized Survey Forecast Combination: Partially-Egalitarian Lasso and its Derivatives
w24960 Ping Wang
Tsz-Nga Wong
Chong K. Yip

Mismatch and Assimilation
w24956 Julien Hugonnier
Benjamin Lester
Pierre-Olivier Weill

Frictional Intermediation in Over-the-counter Markets
w24952 Edward L. Glaeser
Hyunjin Kim
Michael Luca

Measuring Gentrification: Using Yelp Data to Quantify Neighborhood Change
w24949 Lawrence Christiano
Yuta Takahashi

Discouraging Deviant Behavior in Monetary Economics
w24937 Johannes Boehm
Ezra Oberfield

Misallocation in the Market for Inputs: Enforcement and the Organization of Production
w24936 Charles W. Calomiris
Sophia Chen

The Spread of Deposit Insurance and the Global Rise in Bank Asset Risk since the 1970s
w24934 Stefania Albanesi
Jaromir Nosal

Insolvency After the 2005 Bankruptcy Reform
w24932 Pedro Bordalo
Nicola Gennaioli
Yueran Ma
Andrei Shleifer

Over-reaction in Macroeconomic Expectations
w24918 Klaus Desmet
Robert E. Kopp
Scott A. Kulp
Dávid Krisztián Nagy
Michael Oppenheimer
Esteban Rossi-Hansberg
Benjamin H. Strauss

Evaluating the Economic Cost of Coastal Flooding
w24915 Jennifer Bruner
Dylan G. Rassier
Kim J. Ruhl

Multinational Profit Shifting and Measures throughout Economic Accounts
w24914 Nicolas S. Lambert
Giorgio Martini
Michael Ostrovsky

Quadratic Games
w24909 Roberto Perotti
The Human Side of Austerity: Health Spending and Outcomes During the Greek Crisis
w24905 Charles F. Manski
The Lure of Incredible Certitude
w24902 Gauti B. Eggertsson
Manuel Lancastre
Lawrence H. Summers

Aging, Output Per Capita and Secular Stagnation
w24895 Jonathan H. Wright
Seasonal Adjustment of NIPA data
w24893 Laura Bakkensen
Lint Barrage

Climate Shocks, Cyclones, and Economic Growth: Bridging the Micro-Macro Gap
w24891 Robert J. Gordon
Friedman and Phelps on the Phillips Curve Viewed from a Half Century's Perspective
w24890 Harold Cole
Daniel Neuhann
Guillermo Ordoñez

A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information
w24877 Yukun Liu
Aleh Tsyvinski

Risks and Returns of Cryptocurrency
w24875 George-Marios Angeletos
Fabrice Collard
Harris Dellas

Business Cycle Anatomy
w24873 Edward P. Lazear
Kristin McCue

What Causes Labor Turnover To Vary?
w24871 David Autor
Anna Salomons

Is Automation Labor-Displacing? Productivity Growth, Employment, and the Labor Share
w24868 C. Jara Figueroa
Bogang Jun
Edward L. Glaeser
César Hidalgo

The Role of Industry, Occupation, and Location-Specific Knowledge in the Survival of New Firms
w24867 Adrien Bilal
Esteban Rossi-Hansberg

Location as an Asset
w24866 Gary Gorton
Toomas Laarits
Andrew Metrick

The Run on Repo and the Fed's Response
w24845 Jordi Galí
The State of New Keynesian Economics: A Partial Assessment
w24825 Jan David Bakker
Stephan Maurer
Jörn-Steffen Pischke
Ferdinand Rauch

Of Mice and Merchants: Trade and Growth in the Iron Age
w24823 Atif Mian
Amir Sufi

Credit Supply and Housing Speculation
w24811 Lawrence J. Christiano
Martin S. Eichenbaum
Mathias Trabandt

On DSGE Models
w24808 Jeremy Greenwood
Pengfei Han
Juan M. Sanchez

Financing Ventures
w24807 Cecile Gaubert
Oleg Itskhoki

Granular Comparative Advantage
w24800 Chris Edmond
Virgiliu Midrigan
Daniel Yi Xu

How Costly Are Markups?
w24794 Doireann Fitzgerald
Anthony Priolo

How Do Firms Build Market Share?
w24788 Olivier Coibion
Yuriy Gorodnichenko
Saten Kumar
Mathieu Pedemonte

Inflation Expectations as a Policy Tool?
w24784 Spencer G. Lyon
Michael E. Waugh

Redistributing the Gains From Trade Through Progressive Taxation
w24776 Mari Tanaka
Nicholas Bloom
Joel M. David
Maiko Koga

Firm Performance and Macro Forecast Accuracy
w24758 Giorgio Chiovelli
Stelios Michalopoulos
Elias Papaioannou

Landmines and Spatial Development
w24757 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

A Macroeconomic Model with Financially Constrained Producers and Intermediaries
w24752 Pablo Kurlat
How I Learned to Stop Worrying and Love Fire Sales
w24746 Mark Gertler
Simon Gilchrist

What Happened: Financial Factors in the Great Recession
w24744 Douglas Gollin
Casper Worm Hansen
Asger Wingender

Two Blades of Grass: The Impact of the Green Revolution
w24743 Eric M. Leeper
Sweden's Fiscal Framework and Monetary Policy
w24741 Patrick J. Kehoe
Virgiliu Midrigan
Elena Pastorino

Evolution of Modern Business Cycle Models: Accounting for the Great Recession
w24738 Greg Kaplan
Sam Schulhofer-Wohl

The Changing (Dis-)Utility of Work
w24734 Greg Kaplan
Giovanni L. Violante

Microeconomic Heterogeneity and Macroeconomic Shocks
w24729 Adam M. Guren
Alisdair McKay
Emi Nakamura
Jón Steinsson

Housing Wealth Effects: The Long View
w24727 Klaus Desmet
Avner Greif
Stephen Parente

Spatial Competition, Innovation and Institutions: The Industrial Revolution and the Great Divergence
w24722 Miles S. Kimball
Matthew D. Shapiro
Tyler Shumway
Jing Zhang

Portfolio Rebalancing in General Equilibrium
w24718 Nicholas Bloom
Kalina Manova
John Van Reenen
Stephen Teng Sun
Zhihong Yu

Managing Trade: Evidence from China and the US
w24714 Jing Cynthia Wu
Ji Zhang

Global Effective Lower Bound and Unconventional Monetary Policy
w24710 Anmol Bhandari
David Evans
Mikhail Golosov
Thomas J. Sargent

Inequality, Business Cycles, and Monetary-Fiscal Policy
w24709 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

q⁵
w24702 Omar Barbiero
Emmanuel Farhi
Gita Gopinath
Oleg Itskhoki

The Macroeconomics of Border Taxes
w24700 Germán Gutiérrez
Thomas Philippon

How European Markets Became Free: A Study of Institutional Drift
w24699 Bronson Argyle
Taylor D. Nadauld
Christopher Palmer
Ryan D. Pratt

The Capitalization of Consumer Financing into Durable Goods Prices
w24692 Michael Woodford
Monetary Policy Analysis when Planning Horizons are Finite
w24685 Paul Beaudry
Tim Willems

On the Macroeconomic Consequences of Over-Optimism
w24684 David Rezza Baqaee
Emmanuel Farhi

Macroeconomics with Heterogeneous Agents and Input-Output Networks
w24683 Mark A. Aguiar
Manuel Amador

Self-Fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models
w24682 Manuel Amador
Christopher Phelan

Reputation and Sovereign Default
w24680 Sara Fisher Ellison
Christopher Snyder
Hongkai Zhang

Costs of Managerial Attention and Activity as a Source of Sticky Prices: Structural Estimates from an Online Market
w24673 Matteo Maggiori
Brent Neiman
Jesse Schreger

International Currencies and Capital Allocation
w24665 Martin Ravallion
Dean Jolliffe
Juan Margitic

Social Protection and Economic Development: Are the Poorest Being Lifted-Up or Left-Behind?
w24661 Richard Hornbeck
Enrico Moretti

Who Benefits From Productivity Growth? Direct and Indirect Effects of Local TFP Growth on Wages, Rents, and Inequality
w24654 Javier Cravino
Ting Lan
Andrei A. Levchenko

Price Stickiness along the Income Distribution and the Effects of Monetary Policy
w24649 Austan D. Goolsbee
Peter J. Klenow

Internet Rising, Prices Falling: Measuring Inflation in a World of E-Commerce
w24643 Narayana R. Kocherlakota
Practical Policy Evaluation
w24629 Klaus Adam
Michael Woodford

Leaning Against Housing Prices as Robustly Optimal Monetary Policy
w24622 Brian Lucking
Nicholas Bloom
John Van Reenen

Have R&D Spillovers Changed?
w24612 Lawrence Christiano
Martin S. Eichenbaum
Benjamin K. Johannsen

Does the New Keynesian Model Have a Uniqueness Problem?
w24600 Philippe Aghion
Antonin Bergeaud
Matthieu Lequien
Marc J. Melitz

The Heterogeneous Impact of Market Size on Innovation: Evidence from French Firm-Level Exports
w24597 Christiane Baumeister
James D. Hamilton

Inference in Structural Vector Autoregressions When the Identifying Assumptions are Not Fully Believed: Re-evaluating the Role of Monetary Policy in Economic Fluctuations
w24574 Robert E. Hall
New Evidence on the Markup of Prices over Marginal Costs and the Role of Mega-Firms in the US Economy
w24571 Iván Alfaro
Nicholas Bloom
Xiaoji Lin

The Finance Uncertainty Multiplier
w24570 Nancy L. Stokey
Technology and Skill: Twin Engines of Growth
w24569 Christopher Busch
David Domeij
Fatih Guvenen
Rocio Madera

Asymmetric Business-Cycle Risk and Social Insurance
w24568 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Structural Change in Investment and Consumption: A Unified Approach
w24561 Jesús Fernández-Villaverde
David Zarruk Valencia

A Practical Guide to Parallelization in Economics
w24560 Felipe Benguria
Felipe Saffie
Sergio Urzúa

The Transmission of Commodity Price Super-Cycles
w24555 Ṣebnem Kalemli-Özcan
Luc Laeven
David Moreno

Debt Overhang, Rollover Risk, and Corporate Investment: Evidence from the European Crisis
w24554 Robert J. Gordon
Why Has Economic Growth Slowed When Innovation Appears to be Accelerating?
w24550 Juliane Begenau
Maryam Farboodi
Laura Veldkamp

Big Data in Finance and the Growth of Large Firms
w24549 Mathias Drehmann
Mikael Juselius
Anton Korinek

Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms
w24546 Ashantha Ranasinghe
Diego Restuccia

Financial Frictions and the Rule of Law
w24545 George-Marios Angeletos
Zhen Huo

Myopia and Anchoring
w24543 Ufuk Akcigit
Sina T. Ates
Giammario Impullitti

Innovation and Trade Policy in a Globalized World
w24541 Ajay Agrawal
John McHale
Alex Oettl

Finding Needles in Haystacks: Artificial Intelligence and Recombinant Growth
w24534 Marina Azzimonti
Pierre Yared

The Optimal Public and Private Provision of Safe Assets
w24533 Giacomo A.M. Ponzetto
Ugo Troiano

Social Capital, Government Expenditures and Growth
w24532 Tasso Adamopoulos
Diego Restuccia

Geography and Agricultural Productivity: Cross-Country Evidence from Micro Plot-Level Data
w24529 Carolin Pflueger
Emil Siriwardane
Adi Sunderam

A Measure of Risk Appetite for the Macroeconomy
w24524 Chong Xiang
Stephen Yeaple

The Production of Cognitive and Non-cognitive Human Capital in the Global Economy
w24522 Davide Debortoli
Ricardo Nunes
Pierre Yared

Optimal Fiscal Policy without Commitment: Beyond Lucas-Stokey
w24521 Marcus Hagedorn
Jinfeng Luo
Iourii Manovskii
Kurt Mitman

Forward Guidance
w24520 Anmol Bhandari
Ellen R. McGrattan

Sweat Equity in U.S. Private Business
w24518 Paolo Martellini
Guido Menzio

Declining Search Frictions, Unemployment and Growth
w24514 Erik Brynjolfsson
Felix Eggers
Avinash Gannamaneni

Using Massive Online Choice Experiments to Measure Changes in Well-being
w24509 Juan Ospina
Harald Uhlig

Mortgage-Backed Securities and the Financial Crisis of 2008: a Post Mortem
w24498 Roger Farmer
The Role of Financial Policy
w24496 Marina Halac
Pierre Yared

Instrument-Based vs. Target-Based Rules
w24485 Gita Gopinath
Jeremy C. Stein

Banking, Trade, and the making of a Dominant Currency
w24483 Linda Schilling
Harald Uhlig

Some Simple Bitcoin Economics
w24474 Norman Loayza
Amine Ouazad
Romain Rancière

Financial Development, Growth, and Crisis: Is There a Trade-Off?
w24472 Chunzan Wu
Dirk Krueger

How Much Consumption Insurance in Bewley Models with Endogenous Family Labor Supply?
w24468 Kerwin Kofi Charles
Erik Hurst
Mariel Schwartz

The Transformation of Manufacturing and the Decline in U.S. Employment
w24466 Ufuk Akcigit
Santiago Caicedo
Ernest Miguelez
Stefanie Stantcheva
Valerio Sterzi

Dancing with the Stars: Innovation Through Interactions
w24462 Marina Azzimonti
Marcos Fernandes

Social Media Networks, Fake News, and Polarization
w24446 Adam M. Guren
Arvind Krishnamurthy
Timothy J. McQuade

Mortgage Design in an Equilibrium Model of the Housing Market
w24444 Yuriy Gorodnichenko
Debora Revoltella
Jan Svejnar
Christoph T. Weiss

Resource Misallocation in European Firms: The Role of Constraints, Firm Characteristics and Managerial Decisions
w24439 Zhengyang Jiang
Arvind Krishnamurthy
Hanno Lustig

Foreign Safe Asset Demand and the Dollar Exchange Rate
w24436 Yan Bai
Dan Lu
Xu Tian

Do Financial Frictions Explain Chinese Firms' Saving and Misallocation?
w24434 Eric Anderson
Sergio Rebelo
Arlene Wong

Markups Across Space and Time
w24421 Daron Acemoglu
Pascual Restrepo

Demographics and Automation
w24420 Lucia Foster
Cheryl Grim
John C. Haltiwanger
Zoltan Wolf

Innovation, Productivity Dispersion, and Productivity Growth
w24419 Maxim Pinkovskiy
Xavier Sala-i-Martin

Shining a Light on Purchasing Power Parities
w24411 Daron Acemoglu
Will Rafey

Mirage on the Horizon: Geoengineering and Carbon Taxation Without Commitment
w24408 Paul Goldsmith-Pinkham
Isaac Sorkin
Henry Swift

Bartik Instruments: What, When, Why, and How
w24406 Arun G. Chandrasekhar
Robert Townsend
Juan Pablo Xandri

Financial Centrality and Liquidity Provision
w24404 Loukas Karabarbounis
Brent Neiman

Accounting for Factorless Income
w24400 Ricardo J. Caballero
Alp Simsek

Reach for Yield and Fickle Capital Flows
w24393 Roger Farmer
Pawel Zabczyk

The Household Fallacy
w24386 Andreas Fuster
Greg Kaplan
Basit Zafar

What Would You Do With $500? Spending Responses to Gains, Losses, News and Loans
w24377 Christopher D. Carroll
Edmund Crawley
Jiri Slacalek
Kiichi Tokuoka
Matthew N. White

Sticky Expectations and Consumption Dynamics
w24373 Alexandr Kopytov
Nikolai Roussanov
Mathieu Taschereau-Dumouchel

Short-Run Pain, Long-Run Gain? Recessions and Technological Transformation
w24364 Kimberly Bayard
Emin Dinlersoz
Timothy Dunne
John Haltiwanger
Javier Miranda
John Stevens

Early-Stage Business Formation: An Analysis of Applications for Employer Identification Numbers
w24362 Julian Kozlowski
Laura Veldkamp
Venky Venkateswaran

The Tail that Keeps the Riskless Rate Low
w24357 Sangmin Aum
Sang Yoon (Tim) Lee
Yongseok Shin

Computerizing Industries and Routinizing Jobs: Explaining Trends in Aggregate Productivity
w24355 Kasey Buckles
Daniel Hungerman
Steven Lugauer

Is Fertility a Leading Economic Indicator?
w24335 Dirk Krueger
Alexander Ludwig

Optimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk
w24331 Kenneth R. Ahern
The Importance of Psychology in Economic Activity: Evidence from Terrorist Attacks
w24328 Philippe Andrade
Jordi Galí
Hervé Le Bihan
Julien Matheron

The Optimal Inflation Target and the Natural Rate of Interest
w24325 Ambrogio Cesa-Bianchi
M. Hashem Pesaran
Alessandro Rebucci

Uncertainty and Economic Activity: A Multi-Country Perspective
w24322 Atif R. Mian
Amir Sufi

Finance and Business Cycles: The Credit-Driven Household Demand Channel
w24321 Daron Acemoglu
Pascual Restrepo

Modeling Automation
w24307 Efraim Benmelech
Nittai Bergman
Hyunseob Kim

Strong Employers and Weak Employees: How Does Employer Concentration Affect Wages?
w24298 Gary B. Gorton
Toomas Laarits

Collateral Damage
w24280 Adrien Auclert
Matthew Rognlie

Inequality and Aggregate Demand
w24274 Guido Matias Cortes
Nir Jaimovich
Henry E. Siu

The "End of Men" and Rise of Women in the High-Skilled Labor Market
w24263 Richard Rogerson
Johanna Wallenius

Household Time Use Among Older Couples: Evidence and Implications for Labor Supply Parameters
w24261 Roger Farmer
Pricing Assets in a Perpetual Youth Model
w24257 Dan Cao
Iván Werning

Saving and Dissaving with Hyperbolic Discounting
w24256 John B. Donaldson
Christos Koulovatianos
Jian Li
Rajnish Mehra

Demographics and FDI: Lessons from China's One-Child Policy
w24249 Nicholas Bloom
Aprajit Mahajan
David McKenzie
John Roberts

Do Management Interventions Last? Evidence from India
w24244 Francesco D’Acunto
Daniel Hoang
Michael Weber

Unconventional Fiscal Policy
w24236 Ryan A. Decker
John C. Haltiwanger
Ron S. Jarmin
Javier Miranda

Changing Business Dynamism and Productivity: Shocks vs. Responsiveness
w24234 Alberto Martin
Jaume Ventura

The Macroeconomics of Rational Bubbles: A User's Guide
w24230 Zheng Michael Song
Wei Xiong

Risks in China's Financial System
w24223 Paul Beaudry
Franck Portier

Real Keynesian Models and Sticky Prices
w24221 Pablo Ottonello
Thomas Winberry

Financial Heterogeneity and the Investment Channel of Monetary Policy
w24220 Lance Lochner
Youngmin Park
Youngki Shin

Wage Dynamics and Returns to Unobserved Skill
w24216 James H. Stock
Mark W. Watson

Identification and Estimation of Dynamic Causal Effects in Macroeconomics Using External Instruments
w24209 Jacob Moscona
Nathan Nunn
James A. Robinson

Kinship and Conflict: Evidence from Segmentary Lineage Societies in Sub-Saharan Africa
w24205 Sebastian Di Tella
A Neoclassical Theory of Liquidity Traps
w24200 Gregor Jarosch
Laura Pilossoph

Statistical Discrimination and Duration Dependence in the Job Finding Rate
w24199 John Haltiwanger
Robert Kulick
Chad Syverson

Misallocation Measures: The Distortion That Ate the Residual
w24196 Daron Acemoglu
Pascual Restrepo

Artificial Intelligence, Automation and Work
w24193 David Lagakos
Ahmed Mushfiq Mobarak
Michael E. Waugh

The Welfare Effects of Encouraging Rural-Urban Migration
w24187 Nathan Nunn
Nancy Qian
Jaya Wen

Distrust and Political Turnover during Economic Crises
2017
w24179 Olivier J. Blanchard
Lawrence H. Summers

Rethinking Stabilization Policy: Evolution or Revolution?
w24178 George-Marios Angeletos
Frictional Coordination
w24174 Anton Korinek
Joseph E. Stiglitz

Artificial Intelligence and Its Implications for Income Distribution and Unemployment
w24171 Maryam Farboodi
Gregor Jarosch
Guido Menzio

Intermediation as Rent Extraction
w24167 Christiane J.S. Baumeister
James D. Hamilton

Structural Interpretation of Vector Autoregressions with Incomplete Identification: Revisiting the Role of Oil Supply and Demand Shocks
w24166 Job Boerma
Loukas Karabarbounis

Inferring Inequality with Home Production
w24152 Anton Korinek
Regulating Capital Flows to Emerging Markets: An Externality View
w24149 John B. Taylor
Rules Versus Discretion: Assessing the Debate Over the Conduct of Monetary Policy
w24148 Robert E. Hall
Thomas J. Sargent

Short-Run and Long-Run Effects of Milton Friedman's Presidential Address
w24138 Timo Boppart
Per Krusell
Kurt Mitman

Exploiting MIT Shocks in Heterogeneous-Agent Economies: The Impulse Response as a Numerical Derivative
w24135 Frederic S. Mishkin
Making Discretion in Monetary Policy More Rule-Like
w24132 Eduardo Dávila
Ansgar Walther

Does Size Matter? Bailouts with Large and Small Banks
w24126 Mark Gertler
Nobuhiro Kiyotaki
Andrea Prestipino

A Macroeconomic Model with Financial Panics
w24123 Felix Bierbrauer
Aleh Tsyvinski
Nicolas D. Werquin

Taxes and Turnout
w24122 Yuriy Gorodnichenko
Walker Ray

The Effects of Quantitative Easing: Taking a Cue from Treasury Auctions
w24116 Daron Acemoglu
Pablo D. Azar

Endogenous Production Networks
w24112 Òscar Jordà
Katharina Knoll
Dmitry Kuvshinov
Moritz Schularick
Alan M. Taylor

The Rate of Return on Everything, 1870-2015
w24110 Philippe Aghion
Ufuk Akcigit
Ari Hyytinen
Otto Toivanen

The Social Origins of Inventors
w24108 Anusha Chari
Ryan Leary
Toan Phan

The Costs of (sub)Sovereign Default Risk: Evidence from Puerto Rico
w24096 Xavier Gabaix
Behavioral Inattention
w24093 Mario J. Crucini
Nam T. Vu

Did the American Recovery and Reinvestment Act Help Counties Most Affected by the Great Recession?
w24091 Michael Bailey
Eduardo Dávila
Theresa Kuchler
Johannes Stroebel

House Price Beliefs And Mortgage Leverage Choice
w24088 Stelios Michalopoulos
Elias Papaioannou

Spatial Patterns of Development: A Meso Approach
w24086 Narayana R. Kocherlakota
The L-Shaped Phillips Curve: Theoretical Justification and Empirical Implications
w24077 Aaron B. Flaaen
Matthew D. Shapiro
Isaac Sorkin

Reconsidering the Consequences of Worker Displacements: Firm versus Worker Perspective
w24076 Sebastian Di Tella
Pablo Kurlat

Why are Banks Exposed to Monetary Policy?
w24074 Katarína Borovičková
Robert Shimer

High Wage Workers Work for High Wage Firms
w24072 Tatyana Deryugina
Solomon Hsiang

The Marginal Product of Climate
w24062 Alexander M. Bell
Raj Chetty
Xavier Jaravel
Neviana Petkova
John Van Reenen

Who Becomes an Inventor in America? The Importance of Exposure to Innovation
w24057 Olivier J. Blanchard
Should we Get rid of the Natural Rate Hypothesis?
w24050 Gideon Bornstein
Guido Lorenzoni

Moral Hazard Misconceptions: the Case of the Greenspan Put
w24046 Daron Acemoglu
Ali Makhdoumi
Azarakhsh Malekian
Asuman Ozdaglar

Fast and Slow Learning From Reviews
w24043 N. Gregory Mankiw
Ricardo Reis

Friedman's Presidential Address in the Evolution of Macroeconomic Thought
w24034 Chaoran Chen
Diego Restuccia
Raül Santaeulàlia-Llopis

The Effects of Land Markets on Resource Allocation and Agricultural Productivity
w24029 Tarek A. Hassan
Stephan Hollander
Laurence van Lent
Ahmed Tahoun

Firm-Level Political Risk: Measurement and Effects
w24023 Philippe Aghion
Antonin Bergeaud
Timo Boppart
Peter J. Klenow
Huiyu Li

Missing Growth from Creative Destruction
w24010 Edward L. Glaeser
Hyunjin Kim
Michael Luca

Nowcasting the Local Economy: Using Yelp Data to Measure Economic Activity
w24008 John Ameriks
Joseph S. Briggs
Andrew Caplin
Minjoon Lee
Matthew D. Shapiro
Christopher Tonetti

Older Americans Would Work Longer If Jobs Were Flexible
w24007 David Rezza Baqaee
Emmanuel Farhi

Productivity and Misallocation in General Equilibrium
w24006 Richard Blundell
Luigi Pistaferri
Itay Saporta-Eksten

Children, Time Allocation and Consumption Insurance
w24001 Erik Brynjolfsson
Daniel Rock
Chad Syverson

Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics
w23998 Yuriy Gorodnichenko
Byoungchan Lee

A Note on Variance Decomposition with Local Projections
w23996 Stefano DellaVigna
Matthew Gentzkow

Uniform Pricing in US Retail Chains
w23988 Emine Boz
Gita Gopinath
Mikkel Plagborg-Møller

Global Trade and the Dollar
w23986 Bruno Biais
Johan Hombert
Pierre-Olivier Weill

Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing
w23984 Luigi Bocola
Guido Lorenzoni

Financial Crises, Dollarization, and Lending of Last Resort in Open Economies
w23979 Margarida Duarte
Diego Restuccia

Relative Prices and Sectoral Productivity
w23977 Martín Uribe
The Neo-Fisher Effect in the United States and Japan
w23970 Burak R. Uras
Ping Wang

Production Flexibility, Misallocation and Total Factor Productivity
w23968 Emi Nakamura
Jón Steinsson

Identification in Macroeconomics
w23964 Bruno Pellegrino
Luigi Zingales

Diagnosing the Italian Disease
w23960 Matteo Cacciatore
Romain Duval
Giuseppe Fiori
Fabio Ghironi

Market Reforms at the Zero Lower Bound
w23958 Marianne Andries
Valentin Haddad

Information Aversion
w23943 Armin Falk
Anke Becker
Thomas Dohmen
Benjamin Enke
David B. Huffman
Uwe Sunde

Global Evidence on Economic Preferences
w23942 Alessandro Dovis
Rishabh Kirpalani

Fiscal Rules, Bailouts, and Reputation in Federal Governments
w23939 Pei-Ju Liao
Ping Wang
Yin-Chi Wang
Chong Kee Yip

Educational Choice, Rural-urban Migration and Economic Development
w23938 Isaac Sorkin
Ranking Firms Using Revealed Preference
w23937 T. Terry Cheung
Theodore Palivos
Ping Wang
Yin-Chi Wang
Chong K. Yip

Dynamic Trade, Endogenous Institutions and the Colonization of Hong Kong: A Staged Development Framework
w23936 Raphaël Franck
Stelios Michalopoulos

Emigration during the French Revolution: Consequences in the Short and Longue Durée
w23934 Davide Cantoni
Jeremiah Dittmar
Noam Yuchtman

Religious Competition and Reallocation: The Political Economy of Secularization in the Protestant Reformation
w23931 Christina D. Romer
David H. Romer

Why Some Times Are Different: Macroeconomic Policy and the Aftermath of Financial Crises
w23930 Emmanuel Farhi
Jean Tirole

Shadow Banking and the Four Pillars of Traditional Financial Intermediation
w23928 Philippe Aghion
Benjamin F. Jones
Charles I. Jones

Artificial Intelligence and Economic Growth
w23921 Anusha Chari
Peter Blair Henry
Racha Moussa

Does Capital Scarcity Matter?
w23920 Jonathan A. Parker
Nicholas S. Souleles

Reported Effects vs. Revealed-Preference Estimates: Evidence from the propensity to spend tax rebates
w23919 Marina Halac
Pierre Yared

Fiscal Rules and Discretion under Self-Enforcement
w23917 Ian Dew-Becker
Charles G. Nathanson

Directed Attention and Nonparametric Learning
w23916 Douglas Gollin
Martina Kirchberger
David Lagakos

In Search of a Spatial Equilibrium in the Developing World
w23910 Andrei S. Gonçalves
Chen Xue
Lu Zhang

Does the Investment Model Explain Value and Momentum Simultaneously?
w23906 Alexandre Mas
Amanda Pallais

Labor Supply and the Value of Non-Work Time: Experimental Estimates from the Field
w23899 Jess Benhabib
Mark M. Spiegel

Sentiments and Economic Activity: Evidence from U.S. States
w23884 Randall Wright
Philipp Kircher
Benoit Julîen
Veronica Guerrieri

Directed Search: A Guided Tour
w23879 Gabriel Chodorow-Reich
Antonio Falato

The Loan Covenant Channel: How Bank Health Transmits to the Real Economy
w23875 Titan Alon
David Berger
Robert Dent
Benjamin Pugsley

Older and Slower: The Startup Deficit's Lasting Effects on Aggregate Productivity Growth
w23861 James Cloyne
Kilian Huber
Ethan Ilzetzki
Henrik Kleven

The Effect of House Prices on Household Borrowing: A New Approach
w23854 Laura A. Bakkensen
Lint Barrage

Flood Risk Belief Heterogeneity and Coastal Home Price Dynamics: Going Under Water?
w23853 Gene M. Grossman
Elhanan Helpman
Ezra Oberfield
Thomas Sampson

The Productivity Slowdown and the Declining Labor Share: A Neoclassical Exploration
w23850 Arvind Krishnamurthy
Tyler Muir

How Credit Cycles across a Financial Crisis
w23844 Danny Yagan
Employment Hysteresis from the Great Recession
w23841 Ambrogio Cesa-Bianchi
Andrea Ferrero
Alessandro Rebucci

International Credit Supply Shocks
w23837 Roger E.A. Farmer
Giovanni Nicolò

Keynesian Economics without the Phillips Curve
w23836 Fabio Ghironi
Macro Needs Micro
w23819 Carlos Garriga
Aaron Hedlund
Yang Tang
Ping Wang

Rural-Urban Migration, Structural Transformation, and Housing Markets in China
w23817 Pablo Kurlat
Florian Scheuer

Signaling to Experts
w23806 Joao Guerreiro
Sergio Rebelo
Pedro Teles

Should Robots be Taxed?
w23802 Atif Mian
Amir Sufi
Emil Verner

How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s
w23801 John Asker
Allan Collard-Wexler
Jan De Loecker

Market Power, Production (Mis)Allocation and OPEC
w23796 David Berger
Ian Dew-Becker
Stefano Giglio

Uncertainty Shocks as Second-Moment News Shocks
w23794 Joseph E. Stiglitz
Structural Transformation, Deep Downturns, and Government Policy
w23790 Kyle F. Herkenhoff
Lee E. Ohanian
Edward C. Prescott

Tarnishing the Golden and Empire States: Land-Use Restrictions and the U.S. Economic Slowdown
w23789 Alan J. Auerbach
Yuriy Gorodnichenko

Fiscal Stimulus and Fiscal Sustainability
w23787 Benjamin Hébert
Michael Woodford

Rational Inattention and Sequential Information Sampling
w23785 Francesco D’Acunto
Marcel Prokopczuk
Michael Weber

Historical Antisemitism, Ethnic Specialization, and Financial Development
w23784 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

The Mortgage Rate Conundrum
w23782 Nicholas Bloom
Charles I. Jones
John Van Reenen
Michael Webb

Are Ideas Getting Harder to Find?
w23766 V.V. Chari
Lawrence Christiano

Financialization in Commodity Markets
w23754 Jeffrey A. Frankel
Ayako Saiki

Does It Matter If Statistical Agencies Frame the Month's CPI Reporton a 1-Month or 12-month Basis?
w23750 Ernesto Pasten
Raphael Schoenle
Michael Weber

Price Rigidity and the Origins of Aggregate Fluctuations
w23743 Stefania Albanesi
Ayşegül Şahin

The Gender Unemployment Gap
w23741 Russell Cooper
Guozhong Zhu

Household Finance in China
w23740 Stefania Albanesi
Giacomo De Giorgi
Jaromir Nosal

Credit Growth and the Financial Crisis: A New Narrative
w23733 Randall Akee
Maggie R. Jones
Sonya R. Porter

Race Matters: Income Shares, Income Inequality, and Income Mobility for All U.S. Races
w23732 Yves Achdou
Jiequn Han
Jean-Michel Lasry
Pierre-Louis Lions
Benjamin Moll

Income and Wealth Distribution in Macroeconomics: A Continuous-Time Approach
w23731 R. Jason Faberman
Andreas I. Mueller
Ayşegül Şahin
Giorgio Topa

Job Search Behavior among the Employed and Non-Employed
w23725 Jasmina Arifovic
Stephanie Schmitt-Grohé
Martín Uribe

Learning to Live in a Liquidity Trap
w23716 Thomas Drechsel
Silvana Tenreyro

Commodity Booms and Busts in Emerging Economies
w23712 Filip Novokmet
Thomas Piketty
Gabriel Zucman

From Soviets to Oligarchs: Inequality and Property in Russia, 1905-2016
w23707 Mark Gertler
Rethinking the Power of Forward Guidance: Lessons from Japan
w23706 Andreas Fuster
Stephanie H. Lo
Paul S. Willen

The Time-Varying Price of Financial Intermediation in the Mortgage Market
w23704 João F. Gomes
Marco Grotteria
Jessica A. Wachter

Cyclical Dispersion in Expected Defaults
w23701 Raphaël Franck
Oded Galor

Flowers of Evil? Industrial Development and Long-Run Prosperity
w23694 Greg Kaplan
Kurt Mitman
Giovanni L. Violante

The Housing Boom and Bust: Model Meets Evidence
w23693 John Haltiwanger
Henry Hyatt
Erika McEntarfer

Who Moves Up the Job Ladder?
w23688 Russell Cooper
Moritz Meyer
Immo Schott

The Employment and Output Effects of Short-Time Work in Germany
w23687 Jan De Loecker
Jan Eeckhout

The Rise of Market Power and the Macroeconomic Implications
w23685 Francis X. Diebold
Laura Liu
Kamil Yilmaz

Commodity Connectedness
w23676 Jose Maria Barrero
Nicholas Bloom
Ian Wright

Short and Long Run Uncertainty
w23675 Seth G. Benzell
Laurence J. Kotlikoff
Guillermo LaGarda

Simulating Business Cash Flow Taxation: An Illustration Based on the "Better Way" Corporate Tax Reform
w23672 Yuriy Gorodnichenko
Serena Ng

Level and Volatility Factors in Macroeconomic Data
w23666 Lucia S. Foster
Cheryl A. Grim
John Haltiwanger
Zoltan Wolf

Macro and Micro Dynamics of Productivity: From Devilish Details to Insights
w23665 Scott R. Baker
Stephanie Johnson
Lorenz Kueng

Shopping for Lower Sales Tax Rates
w23658 François Gourio
Anil K. Kashyap
Jae Sim

The Tradeoffs in Leaning Against the Wind
w23655 Bruce D. Meyer
James X. Sullivan

Consumption and Income Inequality in the U.S. Since the 1960s
w23654 Emilia Bonaccorsi di Patti
Anil Kashyap

Which Banks Recover From Large Adverse Shocks?
w23652 Andrew Caplin
Mark Dean
John Leahy

Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy
w23647 Thorsten Drautzburg
Jesús Fernández-Villaverde
Pablo Guerrón-Quintana

Bargaining Shocks and Aggregate Fluctuations
w23636 Andrés Erosa
Luisa Fuster
Gueorgui Kambourov
Richard Rogerson

Hours, Occupations, and Gender Differences in Labor Market Outcomes
w23625 Victor Stango
Joanne Yoong
Jonathan Zinman

Quicksand or Bedrock for Behavioral Economics? Assessing Foundational Empirical Questions
w23616 Sumit Agarwal
J. Bradford Jensen
Ferdinando Monte

Consumer Mobility and the Local Structure of Consumption Industries
w23614 Ricardo J. Caballero
Alp Simsek

A Risk-centric Model of Demand Recessions and Speculation
w23608 Michael Bailey
Ruiqing (Rachel) Cao
Theresa Kuchler
Johannes Stroebel
Arlene Wong

Measuring Social Connectedness
w23606 Charles Angelucci
Simone Meraglia
Nico Voigtländer

How Merchant Towns Shaped Parliaments: From the Norman Conquest of England to the Great Reform Act
w23605 Francesco Bianchi
Leonardo Melosi

The Dire Effects of the Lack of Monetary and Fiscal Coordination
w23599 Jesús Fernández-Villaverde
Tano Santos

Institutions and Political Party Systems: The Euro Case
w23598 Zhuo Chen
Zhiguo He
Chun Liu

The Financing of Local Government in China: Stimulus Loan Wanes and Shadow Banking Waxes
w23592 Juan Carlos Conesa
Timothy J. Kehoe

Productivity, Taxes, and Hours Worked in Spain: 1970-2015
w23586 Sebastian Di Tella
Optimal Regulation of Financial Intermediaries
w23583 Germán Gutiérrez
Thomas Philippon

Declining Competition and Investment in the U.S.
w23581 Giulia Brancaccio
Myrto Kalouptsidi
Theodore Papageorgiou

Geography, Search Frictions and Endogenous Trade Costs
w23580 Olivier Coibion
Yuriy Gorodnichenko
Mauricio Ulate

The Cyclical Sensitivity in Estimates of Potential Output
w23577 Gabriel Chodorow-Reich
Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?
w23570 Efraim Benmelech
Adam Guren
Brian T. Melzer

Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment
w23552 Mark Aguiar
Mark Bils
Kerwin Kofi Charles
Erik Hurst

Leisure Luxuries and the Labor Supply of Young Men
w23547 Robert E. Lucas
Jr.

What Was the Industrial Revolution?
w23546 Nittai K. Bergman
Rajkamal Iyer
Richard T. Thakor

The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis
w23543 John G. Fernald
Robert E. Hall
James H. Stock
Mark W. Watson

The Disappointing Recovery of Output after 2009
w23533 Sun Ling Wang
Eldon Ball
Richard Nehring
Ryan Williams
Truong Chau

Impacts of Climate Change and Extreme Weather on U.S. Agricultural Productivity: Evidence and Projection
w23521 Francesco Bianchi
Giovanni Nicolò

A Generalized Approach to Indeterminacy in Linear Rational Expectations Models
w23520 C. Justin Cook
Jason M. Fletcher

High School Genetic Diversity and Later-life Student Outcomes: Micro-level Evidence from the Wisconsin Longitudinal Study
w23515 Dean Corbae
Pablo D'Erasmo

Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics
w23512 Efraim Benmelech
Nittai K. Bergman

Credit Market Freezes
w23511 Bruce Carlin
William Mann

Finance, farms, and the Fed's early years
w23509 Aleh Tsyvinski
Nicolas Werquin

Generalized Compensation Principle
w23494 SeHyoun Ahn
Greg Kaplan
Benjamin Moll
Thomas Winberry
Christian Wolf

When Inequality Matters for Macro and Macro Matters for Inequality
w23485 John Haltiwanger
Henry Hyatt
Lisa B. Kahn
Erika McEntarfer

Cyclical Job Ladders by Firm Size and Firm Wage
w23480 Michael D. Bauer
James D. Hamilton

Robust Bond Risk Premia
w23476 Andrea L. Eisfeldt
Hanno Lustig
Lei Zhang

Complex Asset Markets
w23457 Maryam Farboodi
Laura Veldkamp

Long Run Growth of Financial Technology
w23456 Pol Antràs
Alonso de Gortari

On the Geography of Global Value Chains
w23451 Adrien Auclert
Monetary Policy and the Redistribution Channel
w23449 Anthony A. DeFusco
Charles G. Nathanson
Eric Zwick

Speculative Dynamics of Prices and Volume
w23448 Edward Herbst
Frank Schorfheide

Tempered Particle Filtering
w23429 James D. Hamilton
Why You Should Never Use the Hodrick-Prescott Filter
w23424 Ali Ozdagli
Michael Weber

Monetary Policy through Production Networks: Evidence from the Stock Market
w23423 Gideon Bornstein
Per Krusell
Sergio Rebelo

A World Equilibrium Model of the Oil Market
w23422 Diego Restuccia
Richard Rogerson

The Causes and Costs of Misallocation
w23419 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Imperfect Financial Markets and Shareholder Incentives in Partial and General Equilibrium
w23418 Charles F. Manski
Survey Measurement of Probabilistic Macroeconomic Expectations: Progress and Promise
w23411 Elif C. Arbatli
Steven J. Davis
Arata Ito
Naoko Miake

Policy Uncertainty In Japan
w23401 Oleg Itskhoki
Dmitry Mukhin

Exchange Rate Disconnect in General Equilibrium
w23394 Kewei Hou
Chen Xue
Lu Zhang

Replicating Anomalies
w23391 Christopher L. House
Ana-Maria Mocanu
Matthew D. Shapiro

Stimulus Effects of Investment Tax Incentives: Production versus Purchases
w23389 Juan Carlos Conesa
Daniela Costa
Parisa Kamali
Timothy J. Kehoe
Vegard M. Nygard
Gajendran Raveendranathan
Akshar Saxena

Macroeconomic Effects of Medicare
w23387 Michael E. Waugh
Firm Dynamics and Immigration: The Case of High-Skilled Immigration
w23379 George-Marios Angeletos
Chen Lian

Dampening General Equilibrium: From Micro to Macro
w23378 Margaret McMillan
Dani Rodrik
Claudia Sepulveda

Structural Change, Fundamentals and Growth: A Framework and Case Studies
w23377 Kaiji Chen
Jue Ren
Tao Zha

The Nexus of Monetary Policy and Shadow Banking in China
w23371 Fatih Guvenen
Greg Kaplan
Jae Song
Justin Weidner

Lifetime Incomes in the United States over Six Decades
w23370 Laura Alfaro
Fabio Kanczuk

Fiscal Rules and Sovereign Default
w23369 David Byrne
Stephen Oliner
Daniel Sichel

Prices of High-Tech Products, Mismeasurement, and Pace of Innovation
w23368 Thomas Piketty
Li Yang
Gabriel Zucman

Capital Accumulation, Private Property and Rising Inequality in China, 1978-2015
w23357 Olivier Coibion
Yuriy Gorodnichenko
Dmitri Koustas

Consumption Inequality and the Frequency of Purchases
w23354 Philippe Aghion
Nicholas Bloom
Brian Lucking
Raffaella Sadun
John Van Reenen

Turbulence, Firm Decentralization and Growth in Bad Times
w23349 K.E. McConnell
Juha V. Siikamäki
V. Kerry Smith

A Strategy for Evaluating the Opportunity Cost of Time Estimates from New Choice Margins
w23345 Corina Boar
Denis Gorea
Virgiliu Midrigan

Liquidity Constraints in the U.S. Housing Market
w23343 Stephen Broadberry
John Joseph Wallis

Growing, Shrinking, and Long Run Economic Performance: Historical Perspectives on Economic Development
w23339 José-María Da-Rocha
Marina Mendes Tavares
Diego Restuccia

Policy Distortions and Aggregate Productivity with Endogenous Establishment-Level Productivity
w23332 Lorenzo Caliendo
Fernando Parro
Aleh Tsyvinski

Distortions and the Structure of the World Economy
w23324 Fatih Guvenen
Raymond J. Mataloni
Jr.
Dylan G. Rassier
Kim J. Ruhl

Offshore Profit Shifting and Domestic Productivity Measurement
w23323 Hunter Clark
Maxim Pinkovskiy
Xavier Sala-i-Martin

China's GDP Growth May be Understated
w23321 Fatih Guvenen
Greg Kaplan

Top Income Inequality in the 21st Century: Some Cautionary Notes
w23314 Cristina Arellano
Yan Bai
Luigi Bocola

Sovereign Default Risk and Firm Heterogeneity
w23312 Mark Aguiar
Satyajit Chatterjee
Harold Cole
Zachary Stangebye

Self-Fulfilling Debt Crises, Revisited
w23311 Eric T. Swanson
Measuring the Effects of Federal Reserve Forward Guidance and Asset Purchases on Financial Markets
w23306 Martin S. Feldstein
Underestimating the Real Growth of GDP, Personal Income and Productivity
w23304 Olivier Coibion
Yuriy Gorodnichenko
Rupal Kamdar

The Formation of Expectations, Inflation and the Phillips Curve
w23302 Adriano A. Rampini
S. Viswanathan

Financial Intermediary Capital
w23301 Oded Galor
Marc Klemp

Roots of Autocracy
w23294 Mel Win Khaw
Ziang Li
Michael Woodford

Risk Aversion as a Perceptual Bias
w23287 Òscar Jordà
Björn Richter
Moritz Schularick
Alan M. Taylor

Bank Capital Redux: Solvency, Liquidity, and Crisis
w23285 Daron Acemoglu
Pascual Restrepo

Robots and Jobs: Evidence from US Labor Markets
w23283 Sang Yoon (Tim) Lee
Yongseok Shin

Horizontal and Vertical Polarization: Task-Specific Technological Change in a Multi-Sector Economy
w23281 Emmanuel Farhi
Iván Werning

Monetary Policy, Bounded Rationality, and Incomplete Markets
w23270 Martin Beraja
Andreas Fuster
Erik Hurst
Joseph Vavra

Regional Heterogeneity and Monetary Policy
w23266 Manuel Amador
Javier Bianchi
Luigi Bocola
Fabrizio Perri

Exchange Rate Policies at the Zero Lower Bound
w23254 Xavier Gabaix
David Laibson

Myopia and Discounting
w23253 Joan Hamory Hicks
Marieke Kleemans
Nicholas Y. Li
Edward Miguel

Reevaluating Agricultural Productivity Gaps with Longitudinal Microdata
w23249 Juliane Begenau
Berardino Palazzo

Firm Selection and Corporate Cash Holdings
w23245 Nuno Coimbra
Hélène Rey

Financial Cycles with Heterogeneous Intermediaries
w23235 Patrick J. Kehoe
Elena Pastorino

Financial Markets and Fiscal Unions
w23234 Maryam Farboodi
Gregor Jarosch
Robert Shimer

The Emergence of Market Structure
w23233 Ellen R. McGrattan
Intangible Capital and Measured Productivity
w23228 Ulrike Malmendier
Stefan Nagel
Zhen Yan

The Making of Hawks and Doves: Inflation Experiences on the FOMC
w23226 Lu Zhang
The Investment CAPM
w23225 Sydney C. Ludvigson
Sai Ma
Serena Ng

Shock Restricted Structural Vector-Autoregressions
w23221 Martin S. Feldstein
Why is Growth better in the United States than in other Industrial Countries
w23217 Ellen R. McGrattan
Andrea Waddle

The Impact of Brexit on Foreign Investment and Production
w23216 Efraim Benmelech
Carola Frydman
Dimitris Papanikolaou

Financial Frictions and Employment during the Great Depression
w23207 Nathan Nunn
Raul Sanchez de la Sierra

Why Being Wrong can be Right: Magical Warfare Technologies and the Persistence of False Beliefs
w23202 Jose Asturias
Sewon Hur
Timothy J. Kehoe
Kim J. Ruhl

Firm Entry and Exit and Aggregate Growth
w23199 Quamrul H. Ashraf
Oded Galor

The Macrogenoeconomics of Comparative Development
w23197 Raphaël Franck
Oded Galor

Technology-Skill Complementarity in Early Phases of Industrialization
w23196 Jacob Moscona
Nathan Nunn
James A. Robinson

Keeping It in the Family: Lineage Organization and the Scope of Trust in Sub-Saharan Africa
w23194 Markus K. Brunnermeier
Michael Sockin
Wei Xiong

China's Gradualistic Economic Approach and Financial Markets
w23186 Ulrich K. Müller
Mark W. Watson

Long-Run Covariability
w23185 Nir Jaimovich
Henry E. Siu

High-Skilled Immigration, STEM Employment, and Non-Routine-Biased Technical Change
w23184 Lubos Pastor
Pietro Veronesi

Political Cycles and Stock Returns
w23182 Andreas Fagereng
Luigi Guiso
Luigi Pistaferri

Firm-Related Risk and Precautionary Saving Response
w23176 Xavier Giroud
Holger M. Mueller

Firms' Internal Networks and Local Economic Shocks
w23172 Joshua K. Hausman
Paul W. Rhode
Johannes F. Wieland

Recovery from the Great Depression: The Farm Channel in Spring 1933
w23167 Kyriakos T. Chousakos
Gary B. Gorton

Bank Health Post-Crisis
w23163 Fatih Guvenen
Sam Schulhofer-Wohl
Jae Song
Motohiro Yogo

Worker Betas: Five Facts about Systematic Earnings Risk
w23160 Olivier Blanchard
Guido Lorenzoni
Jean-Paul L'Huillier

Short-Run Effects of Lower Productivity Growth. A Twist on the Secular Stagnation Hypothesis
w23158 Martin Eichenbaum
Benjamin K. Johannsen
Sergio Rebelo

Monetary Policy and the Predictability of Nominal Exchange Rates
w23156 Roger E.A. Farmer
The End of Alchemy: A Review Essay
w23154 Andrew Fieldhouse
Karel Mertens
Morten O. Ravn

The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy
w23149 Julian di Giovanni
Sebnem Kalemli-Ozcan
Mehmet Fatih Ulu
Yusuf Soner Baskaya

International Spillovers and Local Credit Cycles
w23147 Christopher L. House
Christian Proebsting
Linda L. Tesar

Austerity in the Aftermath of the Great Recession
w23146 Raymond Owens III
Esteban Rossi-Hansberg
Pierre-Daniel Sarte

Rethinking Detroit
w23145 David Rezza Baqaee
Emmanuel Farhi

The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem
w23143 David Berger
Joseph Vavra

Shocks vs. Responsiveness: What Drives Time-Varying Dispersion?
w23142 André Kurmann
Eric Sims

Revisions in Utilization-Adjusted TFP and Robust Identification of News Shocks
w23140 Mert Demirer
Francis X. Diebold
Laura Liu
Kamil Yılmaz

Estimating Global Bank Network Connectedness
w23137 Ufuk Akcigit
John Grigsby
Tom Nicholas

Immigration and the Rise of American Ingenuity
w23136 Sushant Acharya
Jess Benhabib
Zhen Huo

The Anatomy of Sentiment-Driven Fluctuations
w23133 Peter Chen
Loukas Karabarbounis
Brent Neiman

The Global Rise of Corporate Saving
w23132 Xinshen Diao
Margaret McMillan
Dani Rodrik

The Recent Growth Boom in Developing Economies: A Structural Change Perspective
w23129 Joel M. David
Venky Venkateswaran

The Sources of Capital Misallocation
w23128 Diego Restuccia
Raul Santaeulalia-Llopis

Land Misallocation and Productivity
w23127 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares
w23111 Daniel J. Benjamin
Kristen Cooper
Ori Heffetz
Miles S. Kimball

Challenges in Constructing a Survey-Based Well-Being Index
w23109 Roger E.A. Farmer
Post Keynesian Dynamic Stochastic General Equilibrium Theory
w23103 Jeremy Greenwood
Nezih Guner
Guillaume Vandenbroucke

Family Economics Writ Large
w23102 Chinhui Juhn
Kristin McCue
Holly Monti
Brooks Pierce

Firm Performance and the Volatility of Worker Earnings
w23101 Benjamin Faber
Thibault Fally

Firm Heterogeneity in Consumption Baskets: Evidence from Home and Store Scanner Data
w23095 Jess Benhabib
Jesse Perla
Christopher Tonetti

Reconciling Models of Diffusion and Innovation: A Theory of the Productivity Distribution and Technology Frontier
w23083 Thomas Philippon
Pierre Pessarossi
Boubacar Camara

Backtesting European Stress Tests
w23081 Tom Vogl
Aggregating the Fertility Transition: Intergenerational Dynamics in Quality and Quantity
w23077 Daron Acemoglu
Pascual Restrepo

Secular Stagnation? The Effect of Aging on Economic Growth in the Age of Automation
w23075 Robert J. Shiller
Narrative Economics
w23074 Òscar Jordà
Moritz Schularick
Alan M. Taylor

The effects of quasi-random monetary experiments
w23066 Francesco D’Acunto
Ryan Liu
Carolin Pflueger
Michael Weber

Flexible Prices and Leverage
w23057 Victor Stango
Joanne Yoong
Jonathan Zinman

The Quest for Parsimony in Behavioral Economics: New Methods and Evidence on Three Fronts
w23055 Douglas W. Diamond
Yunzhi Hu
Raghuram G. Rajan

Pledgeability, Industry Liquidity, and Financing Cycles
w23048 John Kennan
Open Borders in the European Union and Beyond: Migration Flows and Labor Market Implications
w23047 Ufuk Akcigit
John Grigsby
Tom Nicholas

The Rise of American Ingenuity: Innovation and Inventors of the Golden Age
w23039 Tasso Adamopoulos
Loren Brandt
Jessica Leight
Diego Restuccia

Misallocation, Selection and Productivity: A Quantitative Analysis with Panel Data from China
w23030 Charles G. Nathanson
Eric Zwick

Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market
2016
w23014 Ricardo Reis
Can the Central Bank Alleviate Fiscal Burdens?
w23011 Joachim Hubmer
Per Krusell
Anthony A. Smith
Jr.

The Historical Evolution of the Wealth Distribution: A Quantitative-Theoretic Investigation
w23008 José-María Da-Rocha
Marina Mendes Tavares
Diego Restuccia

Firing Costs, Misallocation, and Aggregate Productivity
w23004 Anton Korinek
Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation
w23000 Shoumitro Chatterjee
Tom Vogl

Growth and Childbearing in the Short- and Long-Run
w22990 Cristina Arellano
Yan Bai
Patrick J. Kehoe

Financial Frictions and Fluctuations in Volatility
w22985 Christopher L. Foote
Lara Loewenstein
Paul S. Willen

Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence and Implications
w22979 John H. Cochrane
Stepping on a Rake: the Fiscal Theory of Monetary Policy
w22978 Mel Win Khaw
Luminita Stevens
Michael Woodford

Discrete Adjustment to a Changing Environment: Experimental Evidence
w22975 Rafael Di Tella
Julio J. Rotemberg

Populism and the Return of the "Paranoid Style": Some Evidence and a Simple Model of Demand for Incompetence as Insurance against Elite Betrayal
w22971 Stephanie Schmitt-Grohé
Martín Uribe

Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints
w22969 Michael Gelman
Yuriy Gorodnichenko
Shachar Kariv
Dmitri Koustas
Matthew D. Shapiro
Dan Silverman
Steven Tadelis

The Response of Consumer Spending to Changes in Gasoline Prices
w22965 Peter A. Diamond
Ayşegül Şahin

Disaggregating the Matching Function
w22958 Cosmin L. Ilut
Hikaru Saijo

Learning, Confidence, and Business Cycles
w22954 Xavier Gabaix
A Behavioral New Keynesian Model
w22953 Daniel Garcia-Macia
Chang-Tai Hsieh
Peter J. Klenow

How Destructive is Innovation?
w22948 Laurence Ball
Anusha Chari
Prachi Mishra

Understanding Inflation in India
w22947 Wyatt J. Brooks
Joseph P. Kaboski
Yao Amber Li

Growth Policy, Agglomeration, and (the Lack of) Competition
w22943 Gita Gopinath
Emine Boz
Camila Casas
Federico J. Díez
Pierre-Olivier Gourinchas
Mikkel Plagborg-Møller

Dominant Currency Paradigm
w22941 Guido Ascari
Louis Phaneuf
Eric Sims

Business Cycles, Investment Shocks, and the "Barro-King" Curse
w22938 Moira Daly
Dmytro Hryshko
Iourii Manovskii

Improving the Measurement of Earnings Dynamics
w22936 Marina Halac
Pierre Yared

Commitment vs. Flexibility with Costly Verification
w22918 Guido Matias Cortes
Nir Jaimovich
Henry E. Siu

Disappearing Routine Jobs: Who, How, and Why?
w22915 R. Jason Faberman
Guido Menzio

Evidence on the Relationship between Recruiting and Starting Wage
w22914 Erik Gilje
Robert Ready
Nikolai Roussanov

Fracking, Drilling, and Asset Pricing: Estimating the Economic Benefits of the Shale Revolution
w22910 Raj Chetty
David Grusky
Maximilian Hell
Nathaniel Hendren
Robert Manduca
Jimmy Narang

The Fading American Dream: Trends in Absolute Income Mobility Since 1940
w22905 Tano Santos
Pietro Veronesi

Leverage
w22897 Germán Gutiérrez
Thomas Philippon

Investment-less Growth: An Empirical Investigation
w22891 Jon Cohen
Kinda Cheryl Hachem
Gary Richardson

Relationship Lending and the Great Depression
w22883 Andreas Fagereng
Luigi Guiso
Luigi Pistaferri

Portfolio Choices, Firm Shocks and Uninsurable Wage Risk
w22882 Paolo Sodini
Stijn Van Nieuwerburgh
Roine Vestman
Ulf von Lilienfeld-Toal

Identifying the Benefits from Home Ownership: A Swedish Experiment
w22878 Daniel Green
Brian T. Melzer
Jonathan A. Parker
Arcenis Rojas

Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand
w22866 Martín Uribe
Is The Monetarist Arithmetic Unpleasant?
w22856 Jing Cynthia Wu
Ji Zhang

A Shadow Rate New Keynesian Model
w22851 Peter Diep
Andrea L. Eisfeldt
Scott Richardson

Prepayment Risk and Expected MBS Returns
w22850 David Card
Ana Rute Cardoso
Jörg Heining
Patrick Kline

Firms and Labor Market Inequality: Evidence and Some Theory
w22847 Mark Aguiar
Manuel Amador
Hugo Hopenhayn
Iván Werning

Take the Short Route: Equilibrium Default and Debt Maturity
w22840 Lorenz Kueng
Nicholas Li
Mu-Jeung Yang

The Impact of Emerging Market Competition on Innovation and Business Strategy
w22838 Martin Guzman
Joseph E. Stiglitz

Pseudo-wealth and Consumption Fluctuations
w22837 Joseph E. Stiglitz
The Theory of Credit and Macro-economic Stability
w22833 Andrés Fernández
Stephanie Schmitt-Grohé
Martín Uribe

World Shocks, World Prices, and Business Cycles: An Empirical Investigation
w22831 Andreas Neuhierl
Michael Weber

Monetary Policy and the Stock Market: Time-Series Evidence
w22827 Simon Gilchrist
Raphael Schoenle
Jae Sim
Egon Zakrajšek

Inflation Dynamics During the Financial Crisis
w22825 Paul Beaudry
Dana Galizia
Franck Portier

Putting the Cycle Back into Business Cycle Analysis
w22822 Andreas Fagereng
Luigi Guiso
Davide Malacrino
Luigi Pistaferri

Heterogeneity and Persistence in Returns to Wealth
w22816 David Albouy
Gabriel Ehrlich
Yingyi Liu

Housing Demand, Cost-of-Living Inequality, and the Affordability Crisis
w22809 Pedro Bento
Diego Restuccia

Misallocation, Establishment Size, and Productivity
w22801 Chong-En Bai
Chang-Tai Hsieh
Zheng Michael Song

The Long Shadow of a Fiscal Expansion
w22800 Eric M. Leeper
Should Central Banks Care About Fiscal Rules?
w22794 George-Marios Angeletos
Fabrice Collard
Harris Dellas

Public Debt as Private Liquidity: Optimal Policy
w22790 Tarek A. Hassan
Thomas M. Mertens
Tony Zhang

Currency Manipulation
w22789 Edward Glaeser
Wei Huang
Yueran Ma
Andrei Shleifer

A Real Estate Boom with Chinese Characteristics
w22787 Gary Gorton
Guillermo Ordoñez

Fighting Crises
w22785 George-Marios Angeletos
Chen Lian

Forward Guidance without Common Knowledge
w22783 Daron Acemoglu
Ufuk Akcigit
William Kerr

Innovation Network
w22762 Brad Hershbein
Lisa B. Kahn

Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings
w22761 Robert E. Hall
Ricardo Reis

Achieving Price Stability by Manipulating the Central Bank's Payment on Reserves
w22751 Ricardo J. Caballero
Alp Simsek

A Model of Fickle Capital Flows and Retrenchment
w22743 Òscar Jordà
Moritz Schularick
Alan M. Taylor

Macrofinancial History and the New Business Cycle Facts
w22740 Steven J. Davis
An Index of Global Economic Policy Uncertainty
w22735 Alan S. Blinder
Michael Ehrmann
Jakob de Haan
David-Jan Jansen

Necessity as the Mother of Invention: Monetary Policy after the Crisis
w22734 Russell Cooper
Money or Grit? Determinants of MisMatch
w22726 John Ameriks
Joseph Briggs
Andrew Caplin
Matthew D. Shapiro
Christopher Tonetti

The Long-Term-Care Insurance Puzzle: Modeling and Measurement
w22723 Sang Byung Seo
Jessica A. Wachter

Do Rare Events Explain CDX Tranche Spreads?
w22706 Timothy J. Kehoe
Pau S. Pujolas
Jack Rossbach

Quantitative Trade Models: Developments and Challenges
w22703 Boyan Jovanovic
Julien Prat

Reputation Cycles
w22694 Luigi Bocola
Alessandro Dovis

Self-Fulfilling Debt Crises: A Quantitative Analysis
w22687 Yoko Niimi
Charles Yuji Horioka

The Impact of Intergenerational Transfers on Household Wealth Inequality in Japan and the United States
w22677 Alessandro Gavazza
Simon Mongey
Giovanni L. Violante

Aggregate Recruiting Intensity
w22676 Pol Antràs
Alonso de Gortari
Oleg Itskhoki

Globalization, Inequality and Welfare
w22674 Francisco J. Buera
Joseph P. Kaboski
Yongseok Shin

Taking Stock of the Evidence on Micro-Financial Interventions
w22672 Ioana Marinescu
Roland Rathelot

Mismatch Unemployment and the Geography of Job Search
w22665 Katharine G. Abraham
John C. Haltiwanger
Kristin Sandusky
James Spletzer

The Consequences of Long-Term Unemployment: Evidence from Linked Survey and Administrative Data
w22663 Pedro Brinca
V. V. Chari
Patrick J. Kehoe
Ellen McGrattan

Accounting for Business Cycles
w22662 Eric M. Leeper
Bing Li

Surplus-Debt Regressions
w22657 Eric A. Hanushek
Guido Schwerdt
Simon Wiederhold
Ludger Woessmann

Coping with Change: International Differences in the Returns to Skills
w22653 Filipe Campante
David Yanagizawa-Drott

Long-Range Growth: Economic Development in the Global Network of Air Links
w22651 Barney Hartman-Glaser
Hanno Lustig
Mindy Z. Xiaolan

Capital Share Dynamics When Firms Insure Workers
w22650 Kaiji Chen
Patrick Higgins
Daniel F. Waggoner
and Tao Zha

Impacts of Monetary Stimulus on Credit Allocation and the Macroeconomy: Evidence from China
w22649 Andrew B. Bernard
Toshihiro Okubo

Product Switching and the Business Cycle
w22646 Dominik Sachs
Aleh Tsyvinski
Nicolas Werquin

Nonlinear Tax Incidence and Optimal Taxation in General Equilibrium
w22639 Vladimir Asriyan
Luca Fornaro
Alberto Martin
Jaume Ventura

Monetary Policy for a Bubbly World
w22638 Marco Di Maggio
Amir Kermani
Christopher Palmer

How Quantitative Easing Works: Evidence on the Refinancing Channel
w22618 Pierre-Olivier Gourinchas
Hélène Rey

Real Interest Rates, Imbalances and the Curse of Regional Safe Asset Providers at the Zero Lower Bound
w22625 Marco Di Maggio
Amir Kermani

The Importance of Unemployment Insurance as an Automatic Stabilizer
w22619 Gary Gorton
Tyler Muir

Mobile Collateral versus Immobile Collateral
w22615 Francis X. Diebold
Frank Schorfheide
Minchul Shin

Real-Time Forecast Evaluation of DSGE Models with Stochastic Volatility
w22614 Patrick Kehoe
Elena Pastorino
Virgiliu Midrigan

Debt Constraints and Employment
w22599 Gary Gorton
Ping He

Optimal Monetary Policy in a Collateralized Economy
w22594 Julien Bengui
Javier Bianchi
Louphou Coulibaly

Financial Safety Nets
w22572 Francesco Bianchi
Martin Lettau
Sydney C. Ludvigson

Monetary Policy and Asset Valuation
w22555 Canyon Bosler
Mary C. Daly
John G. Fernald
Bart Hobijn

The Outlook for U.S. Labor-Quality Growth
w22536 Kyle C. Meng
Estimating Path Dependence in Energy Transitions
w22533 Markus K. Brunnermeier
Yuliy Sannikov

The I Theory of Money
w22529 Ravi Bansal
Dana Kiku
Marcelo Ochoa

Price of Long-Run Temperature Shifts in Capital Markets
w22527 Hengjie Ai
Ravi Bansal

Risk Preferences and The Macro Announcement Premium
w22516 Francis X. Diebold
Minchul Shin

Assessing Point Forecast Accuracy by Stochastic Error Distance
w22514 Timothy J. Kehoe
Pau S. Pujolas
Kim J. Ruhl

The Opportunity Costs of Entrepreneurs in International Trade
w22510 Marc Dordal-i-Carreras
Olivier Coibion
Yuriy Gorodnichenko
Johannes Wieland

Infrequent but Long-Lived Zero-Bound Episodes and the Optimal Rate of Inflation
w22505 Emi Nakamura
Jón Steinsson
Patrick Sun
Daniel Villar

The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation
w22496 Jörn-Steffen Pischke
Wage Flexibility and Employment Fluctuations: Evidence from the Housing Sector
w22490 Cosmin L. Ilut
Rosen Valchev
Nicolas Vincent

Paralyzed by Fear: Rigid and Discrete Pricing under Demand Uncertainty
w22489 Jordi Galí
Tommaso Monacelli

Understanding the Gains from Wage Flexibility: The Exchange Rate Connection
w22485 John H. Cochrane
Macro-Finance
w22481 Stephanie Schmitt-Grohé
Martín Uribe

Is Optimal Capital-Control Policy Countercyclical In Open-Economy Models With Collateral Constraints?
w22476 Thomas Philippon
The FinTech Opportunity
w22475 Luca Benati
Robert E. Lucas
Jr.
Juan Pablo Nicolini
Warren Weber

International Evidence on Long Run Money Demand
w22473 Wendy C.Y. Li
Bronwyn H. Hall

Depreciation of Business R&D Capital
w22461 Nina Boyarchenko
David O. Lucca
Laura Veldkamp

Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Markets
w22460 Kan Chen
Mario Crucini

Trends and Cycles in Small Open Economies: Making The Case For A General Equilibrium Approach
w22458 Dirk Krueger
Kurt Mitman
Fabrizio Perri

On the Distribution of the Welfare Losses of Large Recessions
w22453 Dale W. Jorgenson
Mun S. Ho
Jon D. Samuels

Education, Participation, and the Revival of U.S. Economic Growth
w22452 Nicole Maestas
Kathleen J. Mullen
David Powell

The Effect of Population Aging on Economic Growth, the Labor Force and Productivity
w22451 Hie Joo Ahn
James D. Hamilton

Heterogeneity and Unemployment Dynamics
w22444 Eduardo Dávila
Anton Korinek

Pecuniary Externalities in Economies with Financial Frictions
w22432 Erling Barth
James Davis
Richard B. Freeman
Sari Pekkala Kerr

Weathering the Great Recession: Variation in Employment Responses by Establishments and Countries
w22425 Juan Carlos Suárez Serrato
Philippe Wingender

Estimating Local Fiscal Multipliers
w22422 Edward C. Prescott
RBC Methodology and the Development of Aggregate Economic Theory
w22416 Rhys Bidder
Ian Dew-Becker

Long-Run Risk is the Worst-Case Scenario
w22412 Charles Yuji Horioka
Akiko Terada-Hagiwara

The Impact of Pre-marital Sex Ratios on Household Saving in Two Asian Countries: The Competitive Saving Motive Revisited
w22411 Andrew C. Johnston
Alexandre Mas

Potential Unemployment Insurance Duration and Labor Supply: The Individual and Market-Level Response to a Benefit Cut
w22402 Patrick Higgins
Tao Zha
Karen Zhong

Forecasting China's Economic Growth and Inflation
w22396 Xavier Giroud
Holger M. Mueller

Redistribution of Local Labor Market Shocks through Firms' Internal Networks
w22392 Emi Nakamura
Jósef Sigurdsson
Jón Steinsson

The Gift of Moving: Intergenerational Consequences of a Mobility Shock
w22388 Olivier Blanchard
Currency Wars, Coordination, and Capital Controls
w22384 Nicholas Kozeniauskas
Anna Orlik
Laura Veldkamp

The Common Origin of Uncertainty Shocks
w22374 Antonio Fatás
Lawrence H. Summers

The Permanent Effects of Fiscal Consolidations
w22370 Pierre-Olivier Gourinchas
Thomas Philippon
Dimitri Vayanos

The Analytics of the Greek Crisis
w22368 Antonio Ciccone
Elias Papaioannou

Estimating Cross-Industry Cross-Country Interaction Models Using Benchmark Industry Characteristics
w22364 Jaroslav Borovička
Lars Peter Hansen

Term Structure of Uncertainty in the Macroeconomy
w22359 Alisdair McKay
Ricardo Reis

Optimal Automatic Stabilizers
w22357 Giacomo De Giorgi
Anders Frederiksen
Luigi Pistaferri

Consumption Network Effects
w22356 John B. Taylor
The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics
w22354 Monika Piazzesi
Martin Schneider

Housing and Macroeconomics
w22341 Mark Gertler
Christopher Huckfeldt
Antonella Trigari

Unemployment Fluctuations, Match Quality, and the Wage Cyclicality of New Hires
w22331 Greg Kaplan
Sam Schulhofer-Wohl

Inflation at the Household Level
w22330 Harold Cole
Daniel Neuhann
Guillermo Ordoñez

Information Spillovers in Sovereign Debt Markets
w22327 Nicholas Bloom
Raffaella Sadun
John Van Reenen

Management as a Technology?
w22324 Adriano A. Rampini
Financing Durable Assets
w22319 Dirk Krueger
Kurt Mitman
Fabrizio Perri

Macroeconomics and Household Heterogeneity
w22311 Julio Garín
Robert Lester
Eric Sims

Are Supply Shocks Contractionary at the ZLB? Evidence from Utilization-Adjusted TFP Data
w22299 Gauti B. Eggertsson
Neil R. Mehrotra
Sanjay R. Singh
Lawrence H. Summers

A Contagious Malady? Open Economy Dimensions of Secular Stagnation
w22298 Manuel Amador
Javier Bianchi
Luigi Bocola
Fabrizio Perri

Reverse Speculative Attacks
w22297 George-Marios Angeletos
Chen Lian

Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination
w22295 Emmanuel Farhi
Matteo Maggiori

A Model of the International Monetary System
w22294 Hashmat Khan
Christopher R. Knittel
Konstantinos Metaxoglou
Maya Papineau

Carbon Emissions and Business Cycles
w22293 Adriano A. Rampini
S. Viswanathan

Household Risk Management
w22289 Jeffrey R. Campbell
Thomas Hubbard

The Economics of "Radiator Springs:" Industry Dynamics, Sunk Costs, and Spatial Demand Shifts
w22280 Marcus Hagedorn
Iourii Manovskii
Kurt Mitman

Interpreting Recent Quasi-Experimental Evidence on the Effects of Unemployment Benefit Extensions
w22279 Susanto Basu
Christopher L. House

Allocative and Remitted Wages: New Facts and Challenges for Keynesian Models
w22275 Paul Beaudry
Dana Galizia
Franck Portier

Is the Macroeconomy Locally Unstable and Why Should We Care?
w22271 Zhiguo He
Arvind Krishnamurthy
Konstantin Milbradt

A Model of Safe Asset Determination
w22270 Benjamin Hébert
Jesse Schreger

The Costs of Sovereign Default: Evidence from Argentina
w22266 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Diagnostic Expectations and Credit Cycles
w22259 Marco Del Negro
Gauti Eggertsson
Andrea Ferrero
Nobuhiro Kiyotaki

The Great Escape? A Quantitative Evaluation of the Fed's Liquidity Facilities
w22258 Michael Bailey
Ruiqing Cao
Theresa Kuchler
Johannes Stroebel

Social Networks and Housing Markets
w22256 Atif Mian
Amir Sufi

Who Bears the Cost of Recessions? The Role of House Prices and Household Debt
w22252 Daron Acemoglu
Pascual Restrepo

The Race Between Machine and Man: Implications of Technology for Growth, Factor Shares and Employment
w22239 Lee E. Ohanian
The Great Recession in the Shadow of the Great Depression: A Review Essay on "Hall of Mirrors: The Great Depression, The Great Recession and the Uses and Misuses Of History"
w22232 Greg Kaplan
Kurt Mitman
Giovanni L. Violante

Non-durable Consumption and Housing Net Worth in the Great Recession: Evidence from Easily Accessible Data
w22230 Robert E. Hall
Macroeconomics of Persistent Slumps
w22228 Roger E.A. Farmer
Pricing Assets in an Economy with Two Types of People
w22225 Anmol Bhandari
Jaroslav Borovička
Paul Ho

Identifying Ambiguity Shocks in Business Cycle Models Using Survey Data
w22224 Gianluca Benigno
Huigang Chen
Christopher Otrok
Alessandro Rebucci
Eric R. Young

Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective
w22216 Maxim Pinkovskiy
Xavier Sala-i-Martin

Newer Need Not be Better: Evaluating the Penn World Tables and the World Development Indicators Using Nighttime Lights
w22215 Timo Boppart
Per Krusell

Labor Supply in the Past, Present, and Future: a Balanced-Growth Perspective
w22212 Saki Bigio
Jennifer La’O

Distortions in Production Networks
w22211 John Komlos
Growth of income and welfare in the U.S, 1979-2011
w22196 Robert E. Hall
The Role of the Growth of Risk-Averse Wealth in the Decline of the Safe Real Interest Rate
w22188 Fernando E. Alvarez
Katarína Borovičková
Robert Shimer

Decomposing Duration Dependence in a Stopping Time Model
w22183 Drew D. Creal
Jing Cynthia Wu

Bond Risk Premia in Consumption-based Models
w22181 Solomon M. Hsiang
Climate Econometrics
w22177 Julio Garín
Robert Lester
Eric Sims

Raise Rates to Raise Inflation? Neo-Fisherianism in the New Keynesian Model
w22176 Nancy L. Stokey
Technology, Skill and the Wage Structure
w22172 Gauti B. Eggertsson
Neil R. Mehrotra
Lawrence H. Summers

Secular Stagnation in the Open Economy
w22163 Gabriel Chodorow-Reich
Loukas Karabarbounis

The Limited Macroeconomic Effects of Unemployment Benefit Extensions
w22157 Jesús Fernández-Villaverde
Daniel Sanches

Can Currency Competition Work?
w22154 Eric R. Sims
Differences in Quarterly Utilization-Adjusted TFP by Vintage, with an Application to News Shocks
w22153 Ross Levine
Chen Lin
Wensi Xie

Corporate Resilience to Banking Crises: The Roles of Trust and Trade Credit
w22151 Santiago Caicedo
Robert E. Lucas
Jr.
Esteban Rossi-Hansberg

Learning, Career Paths, and the Distribution of Wages
w22148 Efraim Benmelech
Ralf R. Meisenzahl
Rodney Ramcharan

The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles
w22147 Michael E. Waugh
B. Ravikumar

Measuring Openness to Trade
w22145 J. Vernon Henderson
Adam Storeygard
Tim L. Squires
David N. Weil

The Global Spatial Distribution of Economic Activity: Nature, History, and the Role of Trade
w22141 Johannes F. Wieland
Mu-Jeung Yang

Financial Dampening
w22140 Jérémie Cohen-Setton
Joshua K. Hausman
Johannes F. Wieland

Supply-Side Policies in the Depression: Evidence from France
w22136 Roger E.A. Farmer
Konstantin Platonov

Animal Spirits in a Monetary Model
w22135 Roger Farmer
Pawel Zabczyk

The Theory of Unconventional Monetary Policy
w22133 Markus K. Brunnermeier
Yuliy Sannikov

On the Optimal Inflation Rate
w22131 David de la Croix
Matthias Doepke
Joel Mokyr

Clans, Guilds, and Markets: Apprenticeship Institutions and Growth in the Pre-Industrial Economy
w22129 Alisdair McKay
Emi Nakamura
Jón Steinsson

The Discounted Euler Equation: A Note
w22128 Matteo Cacciatore
Romain Duval
Giuseppe Fiori
Fabio Ghironi

Market Reforms in the Time of Imbalance
w22125 Mark Aguiar
Satyajit Chatterjee
Harold Cole
Zachary Stangebye

Quantitative Models of Sovereign Debt Crises
w22122 Gary D. Hansen
Lee E. Ohanian

Neoclassical Models in Macroeconomics
w22095 Jorge Guzman
Scott Stern

The State of American Entrepreneurship: New Estimates of the Quality and Quantity of Entrepreneurship for 32 US States, 1988-2014
w22076 Florian Scheuer
Iván Werning

Mirrlees meets Diamond-Mirrlees
w22072 Matthias Doepke
Fabian Kindermann

Bargaining over Babies: Theory, Evidence, and Policy Implications
w22069 Chang-Tai Hsieh
Nicholas Li
Ralph Ossa
Mu-Jeung Yang

Gains from Trade with Flexible Extensive Margin Adjustment
w22068 Matthias Doepke
Michèle Tertilt

Families in Macroeconomics
w22064 Gary Gorton
Ellis W. Tallman

Too-Big-To-Fail Before the Fed
w22058 Dario Caldara
Cristina Fuentes-Albero
Simon Gilchrist
Egon Zakrajšek

The Macroeconomic Impact of Financial and Uncertainty Shocks
w22047 Pablo Kurlat
The Social Value of Financial Expertise
w22046 Gino Gancia
Giacomo A.M. Ponzetto
Jaume Ventura

Globalization and Political Structure
w22044 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Safe Asset Scarcity and Aggregate Demand
w22036 Gary Gorton
Ellis W. Tallman

How Did Pre-Fed Banking Panics End?
w22027 Maxim Boycko
Robert J. Shiller

Popular Attitudes towards Markets and Democracy: Russia and United States Compared 25 Years Later
w22023 Hanno Lustig
Adrien Verdelhan

Does Incomplete Spanning in International Financial Markets Help to Explain Exchange Rates?
w22012 Mikhail Golosov
Aleh Tsyvinski
Nicolas Werquin

Recursive Contracts and Endogenously Incomplete Markets
w22010 Russell Cooper
Huacong Liu

MisMatch in Human Capital Accumulation
w22009 Narayana R. Kocherlakota
Sluggish Inflation Expectations: A Markov Chain Analysis
w22008 Gary Gorton
Guillermo Ordoñez

Good Booms, Bad Booms
w22007 Dan Cao
Iván Werning

Dynamic Savings Choices with Disagreements
w21997 Jesús Fernández-Villaverde
Oren Levintal

Solution Methods for Models with Rare Disasters
w21984 Paolo Bertoletti
Federico Etro
Ina Simonovska

International Trade with Indirect Additivity
w21978 Valerie A. Ramey
Macroeconomic Shocks and Their Propagation
w21974 Chad Syverson
Challenges to Mismeasurement Explanations for the U.S. Productivity Slowdown
w21967 Grey Gordon
Aaron Hedlund

Accounting for the Rise in College Tuition
w21956 Martin Beraja
Erik Hurst
Juan Ospina

The Aggregate Implications of Regional Business Cycles
w21948 Alessandro Dovis
Mikhail Golosov
Ali Shourideh

Political Economy of Sovereign Debt: A Theory of Cycles of Populism and Austerity
w21942 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

A Simple Model of Subprime Borrowers and Credit Growth
w21935 Doireann Fitzgerald
Stefanie Haller
Yaniv Yedid-Levi

How Exporters Grow
w21931 Greg Kaplan
Guido Menzio
Leena Rudanko
Nicholas Trachter

Relative Price Dispersion: Evidence and Theory
w21928 Philippe Aghion
Ufuk Akcigit
Julia Cagé
William R. Kerr

Taxation, Corruption, and Growth
w21924 Jess Benhabib
Alberto Bisin

Skewed Wealth Distributions: Theory and Empirics
w21920 Zhiguo He
Bryan Kelly
Asaf Manela

Intermediary Asset Pricing: New Evidence from Many Asset Classes
w21914 David Lagakos
Benjamin Moll
Tommaso Porzio
Nancy Qian
Todd Schoellman

Life-Cycle Human Capital Accumulation Across Countries: Lessons From U.S. Immigrants
w21907 Stelios Michalopoulos
Louis Putterman
David N. Weil

The Influence of Ancestral Lifeways on Individual Economic Outcomes in Sub-Saharan Africa
w21905 Ufuk Akcigit
Harun Alp
Michael Peters

Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries
w21898 Jonathan Heathcote
Fabrizio Perri

On the Desirability of Capital Controls
w21897 Greg Kaplan
Benjamin Moll
Giovanni L. Violante

Monetary Policy According to HANK
w21896 Simon H. Boserup
Wojciech Kopczuk
Claus T. Kreiner

The Role of Bequests in Shaping Wealth Inequality: Evidence from Danish Wealth Records
w21892 Mark Gertler
Nobuhiro Kiyotaki
Andrea Prestipino

Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises
w21890 Kaiji Chen
Jue Ren
Tao Zha

What We Learn from China's Rising Shadow Banking: Exploring the Nexus of Monetary Tightening and Banks' Role in Entrusted Lending
w21888 Robert J. Barro
Gordon Y. Liao

Options-Pricing Formula with Disaster Risk
w21887 Claudia Olivetti
Barbara Petrongolo

The Evolution of Gender Gaps in Industrialized Countries
w21880 Kinda Cheryl Hachem
Zheng Michael Song

Liquidity Rules and Credit Booms
w21874 Alexander Bick
Nicola Fuchs-Schündeln
David Lagakos

How do Hours Worked Vary with Income? Cross-Country Evidence and Implications
w21872 Robert J. Barro
Economic Growth and Convergence, Applied Especially to China
w21871 Robert J. Barro
Tao Jin

Rare Events and Long-Run Risks
w21867 Eric M. Leeper
Campbell Leith

Understanding Inflation as a Joint Monetary-Fiscal Phenomenon
w21866 Narayana Kocherlakota
Fragility of Purely Real Macroeconomic Models
w21864 Gabriel Chodorow-Reich
Johannes Wieland

Secular Labor Reallocation and Business Cycles
w21863 James D. Hamilton
Macroeconomic Regimes and Regime Shifts
w21862 Jesús Fernández-Villaverde
Juan F. Rubio Ramírez
Frank Schorfheide

Solution and Estimation Methods for DSGE Models
w21861 Gene M. Grossman
Elhanan Helpman
Ezra Oberfield
Thomas Sampson

Balanced Growth Despite Uzawa
w21856 Joseph Davis
Marc D. Weidenmier

America's First Great Moderation
w21848 Xavier Gabaix
Behavioral Macroeconomics Via Sparse Dynamic Programming
w21844 Francisco J. Buera
Ezra Oberfield

The Global Diffusion of Ideas
w21843 Emmanuel Farhi
Jean Tirole

Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops
w21840 Jose Asturias
Sewon Hur
Timothy J. Kehoe
Kim J. Ruhl

The Interaction and Sequencing of Policy Reforms
2015
w21838 Susanto Basu
Brent Bundick

Endogenous Volatility at the Zero Lower Bound: Implications for Stabilization Policy
w21830 Jeffrey Clemens
The Minimum Wage and the Great Recession: Evidence from the Current Population Survey
w21822 Eric M. Leeper
Fiscal Analysis is Darned Hard
w21820 Vasco Cúrdia
Michael Woodford

Credit Frictions and Optimal Monetary Policy
w21816 Eric T. Swanson
Measuring the Effects of Unconventional Monetary Policy on Asset Prices
w21814 Saten Kumar
Hassan Afrouzi
Olivier Coibion
Yuriy Gorodnichenko

Inflation Targeting Does Not Anchor Inflation Expectations: Evidence from Firms in New Zealand
w21804 Andrea Eisfeldt
Andrew Demers

Total Returns to Single Family Rentals
w21803 Sydney C. Ludvigson
Sai Ma
Serena Ng

Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?
w21799 George J. Hall
Thomas J. Sargent

A History of U.S. Debt Limits
w21795 Carola Frydman
Dimitris Papanikolaou

In Search of Ideas: Technological Innovation and Executive Pay Inequality
w21794 Edward L. Glaeser
Giacomo A. M. Ponzetto
Yimei Zou

Urban Networks: Connecting Markets, People, and Ideas
w21784 Matteo Cacciatore
Romain Duval
Giuseppe Fiori
Fabio Ghironi

Short-Term Pain for Long-Term Gain: Market Deregulation and Monetary Policy in Small Open Economies
w21779 Guillaume Rocheteau
Pierre-Olivier Weill
Tsz-Nga Wong

Working through the Distribution: Money in the Short and Long Run
w21776 Ryan A. Decker
John Haltiwanger
Ron S. Jarmin
Javier Miranda

Where Has All The Skewness Gone? The Decline In High-Growth (Young) Firms In The U.S.
w21774 Jonathan Eaton
Samuel S. Kortum
Brent Neiman

Obstfeld and Rogoff's International Macro Puzzles: A Quantitative Assessment
w21772 Lorenz Kueng
Explaining Consumption Excess Sensitivity with Near-Rationality: Evidence from Large Predetermined Payments
w21770 Eric A. Hanushek
Jens Ruhose
Ludger Woessmann

Economic Gains for U.S. States from Educational Reform
w21767 Stefano Giglio
Matteo Maggiori
Johannes Stroebel
Andreas Weber

Climate Change and Long-Run Discount Rates: Evidence from Real Estate
w21764 Robert E. Hall
Andreas I. Mueller

Wage Dispersion and Search Behavior: The Importance of Non-Wage Job Values
w21760 Pablo D. Fajgelbaum
Eduardo Morales
Juan Carlos Suárez Serrato
Owen M. Zidar

State Taxes and Spatial Misallocation
w21744 Lee E. Ohanian
Paulina Restrepo-Echavarria
Mark L. J. Wright

Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
w21743 Mikhail Golosov
Guido Menzio

Agency Business Cycles
w21738 Pooyan Amir Ahmadi
Harald Uhlig

Sign Restrictions in Bayesian FaVARs with an Application to Monetary Policy Shocks
w21734 Charles Yuji Horioka
Akiko Terada-Hagiwara
Takaaki Nomoto

Explaining Foreign Holdings of Asia's Debt Securities: The Feldstein-Horioka Paradox Revisited
w21732 David Berger
Joseph Vavra

Dynamics of the U.S. Price Distribution
w21724 Sang Yoon (Tim) Lee
Yongseok Shin
Donghoon Lee

The Option Value of Human Capital: Higher Education and Wage Inequality
w21721 Jess Benhabib
Alberto Bisin
Mi Luo

Wealth Distribution and Social Mobility in the US: A Quantitative Approach
w21719 Julian Kozlowski
Laura Veldkamp
Venky Venkateswaran

The Tail that Wags the Economy: Beliefs and Persistent Stagnation
w21717 Ingvild Almås
Alex Armand
Orazio Attanasio
Pedro Carneiro

Measuring and Changing Control: Women's Empowerment and Targeted Transfers
w21702 Rasmus Lentz
Nicolas Roys

Training and Search On the Job
w21699 Isaac Ehrlich
Jinyoung Kim

Immigration, Human Capital Formation and Endogenous Economic Growth
w21686 Felipe S. Iachan
Plamen T. Nenov
Alp Simsek

The Choice Channel of Financial Innovation
w21672 Yaguang Zhang
Guo Fan
John Whalley

Economic Cycles in Ancient China
w21670 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Global Imbalances and Policy Wars at the Zero Lower Bound
w21667 David Berger
Veronica Guerrieri
Guido Lorenzoni
Joseph Vavra

House Prices and Consumer Spending
w21646 Gita Gopinath
The International Price System
w21644 Erik G. Hurst
Benjamin W. Pugsley

Wealth, Tastes, and Entrepreneurial Choice
w21634 Ross Levine
Chen Lin
Lai Wei

Insider Trading and Innovation
w21633 Scott R. Baker
Nicholas Bloom
Steven J. Davis

Measuring Economic Policy Uncertainty
w21630 Kristopher Gerardi
Kyle F. Herkenhoff
Lee E. Ohanian
Paul S. Willen

Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default
w21626 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

Phasing Out the GSEs
w21624 James Feyrer
Erin T. Mansur
Bruce Sacerdote

Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution
w21614 Mariana García-Schmidt
Michael Woodford

Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis
w21604 Christopher J. Ruhm
Health Effects of Economic Crises
w21599 Louis Phaneuf
Eric R. Sims
Jean Gardy Victor

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

Structural Change with Long-run Income and Price Effects
w21581 Atif R. Mian
Amir Sufi
Emil Verner

Household Debt and Business Cycles Worldwide
w21575 Mete Kilic
Jessica A. Wachter

Risk, Unemployment, and the Stock Market: A Rare-Event-Based Explanation of Labor Market Volatility
w21569 Jeremy C. Stein
Adi Sunderam

Gradualism in Monetary Policy: A Time-Consistency Problem?
w21567 Sumit Agarwal
Souphala Chomsisengphet
Neale Mahoney
Johannes Stroebel

Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?
w21566 Steven N. Durlauf
Salvador Navarro
David A. Rivers

Model Uncertainty and the Effect of Shall-Issue Right-to-Carry Laws on Crime
w21558 Sebnem Kalemli-Ozcan
Bent Sorensen
Carolina Villegas-Sanchez
Vadym Volosovych
Sevcan Yesiltas

How to Construct Nationally Representative Firm Level Data from the Orbis Global Database: New Facts and Aggregate Implications
w21550 Andrew B. Abel
Crowding Out in Ricardian Economies
w21549 Andrew B. Abel
The Analytics of Investment, q, and Cash Flow
w21547 William D. Nordhaus
Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth
w21539 Nir Jaimovich
Sergio Rebelo
Arlene Wong

Trading Down and the Business Cycle
w21538 Dirk Krueger
Alexander Ludwig

On the Optimal Provision of Social Insurance: Progressive Taxation versus Education Subsidies in General Equilibrium
w21532 Kyle F. Herkenhoff
Lee E. Ohanian

The Impact of Foreclosure Delay on U.S. Employment
w21524 Emmanuel Farhi
Xavier Gabaix

Optimal Taxation with Behavioral Agents
w21512 Sumit Agarwal
Gene Amromin
Souphala Chomsisengphet
Tim Landvoigt
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program
w21508 Björn Brügemann
Pieter Gautier
Guido Menzio

Intra Firm Bargaining and Shapley Values
w21506 Stelios Michalopoulos
Alireza Naghavi
Giovanni Prarolo

Islam, Inequality and Pre-Industrial Comparative Development
w21498 Francesco Caselli
Miklós Koren
Milan Lisicky
Silvana Tenreyro

Diversification through Trade
w21495 Robert Shimer
Iván Werning

Efficiency and Information Transmission in Bilateral Trading
w21493 Guido Menzio
Nicholas Trachter

Equilibrium Price Dispersion Across and Within Stores
w21492 Marina Halac
Pierre Yared

Fiscal Rules and Discretion in a World Economy
w21486 Òscar Jordà
Moritz Schularick
Alan M. Taylor

Leveraged Bubbles
w21480 Joel M. David
Ina Simonovska

Correlated Beliefs, Returns, and Stock Market Volatility
w21476 James D. Hamilton
Ethan S. Harris
Jan Hatzius
Kenneth D. West

The Equilibrium Real Funds Rate: Past, Present and Future
w21466 Paul Beaudry
Patrick Fève
Alain Guay
Franck Portier

When is Nonfundamentalness in VARs a Real Problem? An Application to News Shocks
w21458 Sari Kerr
William R. Kerr
Ramana Nanda

House Prices, Home Equity and Entrepreneurship: Evidence from U.S. Census Micro Data
w21456 Cristina Arellano
Andrew Atkeson
Mark Wright

External and Public Debt Crises
w21453 Gita Gopinath
Sebnem Kalemli-Ozcan
Loukas Karabarbounis
Carolina Villegas-Sanchez

Capital Allocation and Productivity in South Europe
w21449 Mila Getmansky
Peter A. Lee
Andrew W. Lo

Hedge Funds: A Dynamic Industry In Transition
w21448 Iván Werning
Incomplete Markets and Aggregate Demand
w21446 Jean-Pierre Dubé
Günter J. Hitsch
Peter E. Rossi

Income and Wealth Effects on Private-Label Demand: Evidence From the Great Recession
w21445 Tarek Alexander Hassan
Thomas Mertens
Tony Zhang

Not so Disconnected: Exchange Rates and the Capital Stock
w21444 Joseph E. Stiglitz
Towards a General Theory of Deep Downturns
w21433 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis
w21430 Jordi Galí
Hysteresis and the European Unemployment Problem Revisited
w21427 Olivier Blanchard
Gustavo Adler
Irineu de Carvalho Filho

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?
w21426 Olivier Blanchard
Christopher J. Erceg
Jesper Lindé

Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
w21420 Julio Garín
Robert Lester
Eric Sims

On the Desirability of Nominal GDP Targeting
w21397 Anton Cheremukhin
Mikhail Golosov
Sergei Guriev
Aleh Tsyvinski

The Economy of People's Republic of China from 1953
w21392 Guido Ascari
Louis Phaneuf
Eric Sims

On the Welfare and Cyclical Implications of Moderate Trend Inflation
w21390 Orazio Attanasio
Arlen Guarín
Carlos Medina
Costas Meghir

Long Term Impacts of Vouchers for Vocational Training: Experimental Evidence for Colombia
w21377 James E. Anderson
Mario Larch
Yoto V. Yotov

Growth and Trade with Frictions: A Structural Estimation Framework
w21376 Fatih Guvenen
Burhanettin Kuruscu
Satoshi Tanaka
David Wiczer

Multidimensional Skill Mismatch
w21369 Jonathan A. Parker
Why Don't Households Smooth Consumption? Evidence from a 25 Million Dollar Experiment
w21363 Xavier Gabaix
Jean-Michel Lasry
Pierre-Louis Lions
Benjamin Moll

The Dynamics of Inequality
w21358 Casey B. Mulligan
Fiscal Policies and the Prices of Labor: A Comparison of the U.K. and U.S.
w21349 Wolfgang Keller
Carol H. Shiue
Xin Wang

Capital Markets in China and Britain, 18th and 19th Century: Evidence from Grain Prices
w21344 Daron Acemoglu
Ufuk Akcigit
William Kerr

Networks and the Macroeconomy: An Empirical Exploration
w21334 Juliane Begenau
Monika Piazzesi
Martin Schneider

Banks' Risk Exposures
w21328 Fernando Alvarez
Gadi Barlevy

Mandatory Disclosure and Financial Contagion
w21327 Joseph E. Stiglitz
The Measurement of Wealth: Recessions, Sustainability and Inequality
w21322 Pascal Michaillat
Emmanuel Saez

The Optimal Use of Government Purchases for Stabilization
w21320 Manuel Adelino
Antoinette Schoar
Felipe Severino

Loan Originations and Defaults in the Mortgage Crisis: Further Evidence
w21318 Aviv Nevo
Arlene Wong

The Elasticity of Substitution Between Time and Market Goods: Evidence from the Great Recession
w21316 Atif Mian
Amir Sufi
Nasim Khoshkhou

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

Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply
w21295 Eric A. Hanushek
Jens Ruhose
Ludger Woessmann

Knowledge Capital and Aggregate Income Differences: Development Accounting for U.S. States
w21294 Jess Benhabib
Xuewen Liu
Pengfei Wang

Sentiments, Financial Markets, and Macroeconomic Fluctuations
w21284 Barbara M. Fraumeni
Michael S. Christian
Jon D. Samuels

The Accumulation of Human and Nonhuman Capital, Revisited
w21282 James H. Stock
Mark W. Watson

Core Inflation and Trend Inflation
w21280 Jaume Ventura
Hans-Joachim Voth

Debt into Growth: How Sovereign Debt Accelerated the First Industrial Revolution
w21273 Marina Azzimonti
Partisan Conflict and Private Investment
w21261 Fernando Ferreira
Joseph Gyourko

A New Look at the U.S. Foreclosure Crisis: Panel Data Evidence of Prime and Subprime Borrowers from 1997 to 2012
w21260 Nicola Gennaioli
Yueran Ma
Andrei Shleifer

Expectations and Investment
w21258 Robert C. Merton
Richard T. Thakor

Customers and Investors: A Framework for Understanding Financial Institutions
w21252 Regis Barnichon
Andrew Figura

Declining Desire to Work and Downward Trends in Unemployment and Participation
w21251 Dominick Bartelme
Yuriy Gorodnichenko

Linkages and Economic Development
w21247 Philippe Aghion
Ufuk Akcigit
Antonin Bergeaud
Richard Blundell
David Hémous

Innovation and Top Income Inequality
w21244 Chun Chang
Kaiji Chen
Daniel F. Waggoner
Tao Zha

Trends and Cycles in China's Macroeconomy
w21241 Paul Beaudry
Dana Galizia
Franck Portier

Reviving the Limit Cycle View of Macroeconomic Fluctuations
w21238 Mark Huggett
Greg Kaplan

How Large is the Stock Component of Human Capital?
w21235 John Haltiwanger
Henry Hyatt
Erika McEntarfer

Cyclical Reallocation of Workers Across Employers by Firm Size and Firm Wage
w21228 Nicola Fuchs-Schuendeln
Tarek Alexander Hassan

Natural Experiments in Macroeconomics
w21220 Claudia R. Sahm
Matthew D. Shapiro
Joel Slemrod

Balance-Sheet Households and Fiscal Stimulus: Lessons from the Payroll Tax Cut and Its Expiration
w21203 Atif Mian
Amir Sufi

Household Debt and Defaults from 2000 to 2010: Facts from Credit Bureau Data
w21201 Miguel Faria-e-Castro
Joseba Martinez
Thomas Philippon

Runs versus Lemons: Information Disclosure and Fiscal Capacity
w21199 Jae Song
David J. Price
Fatih Guvenen
Nicholas Bloom
Till von Wachter

Firming Up Inequality
w21182 Ian Dew-Becker
Stefano Giglio
Anh Le
Marius Rodriguez

The Price of Variance Risk
w21179 Guillaume Rocheteau
Pierre-Olivier Weill
Tsz-Nga Wong

A Tractable Model of Monetary Exchange with Ex-post Heterogeneity
w21173 Robert E. Hall
Ricardo Reis

Maintaining Central-Bank Financial Stability under New-Style Central Banking
w21165 Francisco J. Buera
Joseph P. Kaboski
Richard Rogerson

Skill Biased Structural Change
w21155 Lilia Maliar
Serguei Maliar
John Taylor
Inna Tsener

A Tractable Framework for Analyzing a Class of Nonstationary Markov Models
w21154 Chang-Tai Hsieh
Enrico Moretti

Housing Constraints and Spatial Misallocation
w21151 S. Borağan Aruoba
Allan Drazen
Razvan Vlaicu

A Structural Model of Electoral Accountability
w21142 Charles I. Jones
The Facts of Economic Growth
w21118 Pablo Kurlat
Liquidity as Social Expertise
w21112 Hanming Fang
Quanlin Gu
Wei Xiong
Li-An Zhou

Demystifying the Chinese Housing Boom
w21110 Fernando Alvarez
Francesco Lippi

Cash burns: An inventory model with a cash-credit choice
w21107 Francisco J. Buera
Joseph P. Kaboski
Yongseok Shin

Entrepreneurship and Financial Frictions: A Macro-Development Perspective
w21105 Roland Bénabou
Davide Ticchi
Andrea Vindigni

Forbidden Fruits: The Political Economy of Science, Religion, and Growth
w21100 Alan J. Auerbach
Yuriy Gorodnichenko

Effects of Fiscal Shocks in a Globalized World
w21092 Olivier Coibion
Yuriy Gorodnichenko
Saten Kumar

How Do Firms Form Their Expectations? New Survey Evidence
w21091 Jeffrey D. Sachs
Seth G. Benzell
Guillermo LaGarda

Robots: Curse or Blessing? A Basic Framework
w21087 Klaus Desmet
Dávid Krisztián Nagy
Esteban Rossi-Hansberg

The Geography of Development: Evaluating Migration Restrictions and Coastal Flooding
w21086 Nittai K. Bergman
Rajkamal Iyer
Richard T. Thakor

Financial Accelerator at Work: Evidence from Corn Fields
w21079 Cemal Eren Arbatlı
Quamrul H. Ashraf
Oded Galor
Marc Klemp

Diversity and Conflict
w21076 Xavier Giroud
Holger M. Mueller

Firm Leverage and Unemployment during the Great Recession
w21074 David M. Byrne
Stephen D. Oliner
Daniel E. Sichel

How Fast are Semiconductor Prices Falling?
w21069 Philippe Aghion
Ufuk Akcigit
Angus Deaton
Alexandra Roulet

Creative Destruction and Subjective Wellbeing
w21065 John Kennan
Spatial Variation in Higher Education Financing and the Supply of College Graduates
w21064 Gian Luca Clementi
Berardino Palazzo

Investment and The Cross-Section of Equity Returns
w21056 Francesco Bianchi
The Great Depression and the Great Recession: A View from Financial Markets
w21052 Roland Bénabou
Davide Ticchi
Andrea Vindigni

Religion and Innovation
w21039 Alan M. Taylor
Credit, Financial Stability, and the Macroeconomy
w21037 Edward L. Glaeser
Charles G. Nathanson

An Extrapolative Model of House Price Dynamics
w21035 Owen M. Zidar
Tax Cuts For Whom? Heterogeneous Effects of Income Tax Changes on Growth and Employment
w21030 Christopher L. Foote
Richard W. Ryan

Labor Market Polarization Over the Business Cycle
w21026 Juan Carlos Conesa
Timothy J. Kehoe

Gambling for Redemption and Self-Fulfilling Debt Crises
w21025 Michael Gelman
Shachar Kariv
Matthew D. Shapiro
Dan Silverman
Steven Tadelis

How Individuals Respond to a Liquidity Shock: Evidence from the 2013 Government Shutdown
w21021 Christina D. Romer
David H. Romer

New Evidence on the Impact of Financial Crises in Advanced Countries
w21018 Xinshen Diao
Margaret McMillan

Toward an Understanding of Economic Growth in Africa: A Re-Interpretation of the Lewis Model
w21016 Hang Bai
Kewei Hou
Howard Kung
Lu Zhang

The CAPM Strikes Back? An Investment Model with Disasters
w21010 Andrei A. Levchenko
Nitya Pandalai-Nayar

TFP, News, and "Sentiments:" The International Transmission of Business Cycles
w21007 Erik Hurst
Benjamin J. Keys
Amit Seru
Joseph S. Vavra

Regional Redistribution Through the U.S. Mortgage Market
w21006 Chang-Tai Hsieh
Zheng (Michael) Song

Grasp the Large, Let Go of the Small: The Transformation of the State Sector in China
w21001 Andrew Caplin
John Leahy
Filip Matějka

Social Learning and Selective Attention
w20994 Jonathan Heathcote
Fabrizio Perri

Wealth and Volatility
w20973 John Ameriks
Joseph S. Briggs
Andrew Caplin
Matthew D. Shapiro
Christopher Tonetti

Long-Term-Care Utility and Late-in-Life Saving
w20972 John Ameriks
Andrew Caplin
Minjoon Lee
Matthew D. Shapiro
Christopher Tonetti

The Wealth of Wealthholders
w20963 Stefano Giglio
Bryan T. Kelly
Seth Pruitt

Systemic Risk and the Macroeconomy: An Empirical Evaluation
w20957 Jennifer N. Carpenter
Fangzhou Lu
Robert F. Whitelaw

The Real Value of China's Stock Market
w20947 Atif R. Mian
Amir Sufi

Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005
w20941 Seth G. Benzell
Laurence J. Kotlikoff
Guillermo LaGarda
Jeffrey D. Sachs

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

Measuring Job-Finding Rates and Matching Efficiency with Heterogeneous Jobseekers
w20935 Dani Rodrik
Premature Deindustrialization
w20933 Jaume Ventura
Alberto Martin

The International Transmission of Credit Bubbles: Theory and Policy
w20931 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Networks, Shocks, and Systemic Risk
w20926 Jerry Tsai
Jessica A. Wachter

Disaster Risk and its Implications for Asset Pricing
w20919 David N. Weil
Capital and Wealth in the 21st Century
w20913 Fatih Guvenen
Fatih Karahan
Serdar Ozkan
Jae Song

What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?
w20898 Pranjul Bhandari
Jeffrey A. Frankel

Nominal GDP Targeting for Developing Countries
w20885 Sara Lowes
Nathan Nunn
James A. Robinson
Jonathan Weigel

Understanding Ethnic Identity in Africa: Evidence from the Implicit Association Test (IAT)
w20884 Marcus Hagedorn
Iourii Manovskii
Kurt Mitman

The Impact of Unemployment Benefit Extensions on Employment: The 2014 Employment Miracle?
w20883 Christopher Phelan
Aldo Rustichini

Pareto Efficiency and Identity
w20882 Alisdair McKay
Emi Nakamura
Jón Steinsson

The Power of Forward Guidance Revisited
w20881 Jesse Perla
Christopher Tonetti
Michael E. Waugh

Equilibrium Technology Diffusion, Trade, and Growth
w20874 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Credit Supply and the Housing Boom
w20872 Alessandra Fogli
Fabrizio Perri

Macroeconomic Volatility and External Imbalances
w20865 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Microeconomic Origins of Macroeconomic Tail Risks
w20863 Ross Levine
Chen Lin
Wensi Xie

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries
w20862 Martin S. Feldstein
Ending the Euro Crisis?
w20858 Rui Albuquerque
Martin Eichenbaum
Dimitris Papanikolaou
Sergio Rebelo

Long-run Bulls and Bears
w20857 Rabah Arezki
Valerie A. Ramey
Liugang Sheng

News Shocks in Open Economies: Evidence from Giant Oil Discoveries
w20856 Harold L. Cole
Jeremy Greenwood
Juan M. Sanchez

Why Doesn't Technology Flow from Rich to Poor Countries?
w20855 Ariel Burstein
Eduardo Morales
Jonathan Vogel

Accounting for Changes in Between-Group Inequality
w20848 Manuel Adelino
Antoinette Schoar
Felipe Severino

Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class
w20845 Bryan Hong
Lorenz Kueng
Mu-Jeung Yang

Estimating Management Practice Complementarity between Decentralization and Performance Pay
w20838 Patrick Kline
Melissa Tartari

Bounding the Labor Supply Responses to a Randomized Welfare Experiment: A Revealed Preference Approach
w20831 Roger E.A. Farmer
Global Sunspots and Asset Prices in a Monetary Economy
w20823 Monika Piazzesi
Martin Schneider
Johannes Stroebel

Segmented Housing Search
2014
w20819 Yuriy Gorodnichenko
Viacheslav Sheremirov
Oleksandr Talavera

Price Setting in Online Markets: Does IT Click?
w20817 Fernando Alvarez
Francesco Lippi
Luigi Paciello

Monetary Shocks in Models with Inattentive Producers
w20813 Boyan Jovanovic
Viktor Tsyrennikov

Trading on Sunspots
w20807 George-Marios Angeletos
Fabrice Collard
Harris Dellas

Quantifying Confidence
w20805 Anton Korinek
Damiano Sandri

Capital Controls or Macroprudential Regulation?
w20803 Markus K. Brunnermeier
Yuliy Sannikov

International Credit Flows and Pecuniary Externalities
w20796 Lars E.O. Svensson
Forward Guidance
w20786 Raquel Fernández
Alberto Martin

The Long and the Short of It: Sovereign Debt Crises and Debt Maturity
w20780 Mikhail Golosov
Aleh Tsyvinski
Nicolas Werquin

A Variational Approach to the Analysis of Tax Systems
w20770 Supreet Kaur
Nominal Wage Rigidity in Village Labor Markets
w20769 Joel M. David
Espen Henriksen
Ina Simonovska

The Risky Capital of Emerging Markets
w20766 Daron Acemoglu
James A. Robinson

The Rise and Decline of General Laws of Capitalism
w20758 Martin Goetz
Luc Laeven
Ross Levine

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

To Cut or Not to Cut? On the Impact of Corporate Taxes on Employment and Income
w20751 Raphael Corbi
Elias Papaioannou
Paolo Surico

Regional Transfers
w20750 Tatyana Deryugina
Solomon M. Hsiang

Does the Environment Still Matter? Daily Temperature and Income in the United States
w20748 Gregory Colman
Dhaval Dave

Unemployment and Health Behaviors Over the Business Cycle: a Longitudinal View
w20746 Julien Hugonnier
Benjamin Lester
Pierre-Olivier Weill

Heterogeneity in Decentralized Asset Markets
w20744 Martin Lettau
Sydney C. Ludvigson
Sai Ma

Capital Share Risk in U.S. Asset Pricing
w20743 Daron Acemoglu
Ufuk Akcigit
Douglas Hanley
William Kerr

Transition to Clean Technology
w20742 Charles I. Jones
Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality
w20741 Christiane Baumeister
James D. Hamilton

Sign Restrictions, Structural Vector Autoregressions, and Useful Prior Information
w20737 Frederic S. Mishkin
Eugene N. White

Unprecedented Actions: The Federal Reserve's Response to the Global Financial Crisis in Historical Perspective
w20730 Fiorella De Fiore
Harald Uhlig

Corporate Debt Structure and the Financial Crisis
w20725 Francesco Bianchi
Howard Kung
Gonzalo Morales

Growth, Slowdowns, and Recoveries
w20719 Valerie A. Ramey
Sarah Zubairy

Government Spending Multipliers in Good Times and in Bad: Evidence from U.S. Historical Data
w20715 Laurence Ball
Sandeep Mazumder

A Phillips Curve with Anchored Expectations and Short-Term Unemployment
w20710 Johannes Stroebel
Joseph Vavra

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

Accounting for Post-Crisis Inflation and Employment: A Retro Analysis
w20704 Michael Greenstone
Alexandre Mas
Hoai-Luu Nguyen

Do Credit Market Shocks affect the Real Economy? Quasi-Experimental Evidence from the Great Recession and 'Normal' Economic Times
w20703 Frédéric Boissay
Russell Cooper

The Collateral Trap
w20698 Lisa B. Kahn
Erika McEntarfer

Employment Cyclicality and Firm Quality
w20691 Markus K. Brunnermeier
Alp Simsek
Wei Xiong

A Welfare Criterion for Models with Distorted Beliefs
w20688 Hans A. Holter
Dirk Krueger
Serhiy Stepanchuk

How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves?
w20684 Russell Cooper
Guozhong Zhu

Household Finance over the Life-Cycle: What does Education Contribute?
w20682 Kewei Hou
Haitao Mo
Chen Xue
Lu Zhang

Which Factors?
w20666 Robert B. Barsky
Susanto Basu
Keyoung Lee

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

The Power of the Street: Evidence from Egypt's Arab Spring
w20650 Russell Cooper
Antoine Camous

Monetary Policy and Debt Fragility
w20642 Jess Benhabib
Feng Dong
Pengfei Wang

Adverse Selection and Self-fulfilling Business Cycles
w20637 Charles I. Jones
Jihee Kim

A Schumpeterian Model of Top Income Inequality
w20633 Mikhail Golosov
Luigi Iovino

Social Insurance, Information Revelation, and Lack of Commitment
w20632 Davide Debortoli
Ricardo Nunes
Pierre Yared

Optimal Time-Consistent Government Debt Maturity
w20628 Martin Gervais
Nir Jaimovich
Henry E. Siu
Yaniv Yedid-Levi

What Should I Be When I Grow Up? Occupations and Unemployment over the Life Cycle
w20623 Veronica Guerrieri
Robert Shimer

Markets with Multidimensional Private Information
w20621 Lorenz Kueng
Mu-Jeung Yang
Bryan Hong

Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects
w20617 Makoto Nakajima
José-Víctor Ríos-Rull

Credit, Bankruptcy, and Aggregate Fluctuations
w20616 George Alessandria
Horag Choi
Joseph P. Kaboski
Virgiliu Midrigan

Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations
w20613 John H. Cochrane
Monetary Policy with Interest on Reserves
w20611 Hess Chung
Edward Herbst
Michael T. Kiley

Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination
w20610 Patrick Bolton
Neng Wang
Jinqiang Yang

Investment under Uncertainty with Financial Constraints
w20608 Benjamin Lester
Guillaume Rocheteau
Pierre-Olivier Weill

Competing for Order Flow in OTC Markets
w20607 Luis Garicano
Esteban Rossi-Hansberg

Knowledge-based Hierarchies: Using Organizations to Understand the Economy
w20606 Loukas Karabarbounis
Brent Neiman

Capital Depreciation and Labor Shares Around the World: Measurement and Implications
w20601 Fabian Kindermann
Dirk Krueger

High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk
w20581 John Graham
Mark T. Leary
Michael R. Roberts

How Does Government Borrowing Affect Corporate Financing and Investment?
w20580 Casey B. Mulligan
The New Full-time Employment Taxes
w20575 Marco Del Negro
Raiden B. Hasegawa
Frank Schorfheide

Dynamic Prediction Pools: An Investigation of Financial Frictions and Forecasting Performance
w20573 Lant Pritchett
Lawrence H. Summers

Asiaphoria Meets Regression to the Mean
w20572 Philippe Martin
Thomas Philippon

Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
w20569 Alp Simsek
Andrei Shleifer
Matthew Rognlie

Investment Hangover and the Great Recession
w20568 Paul Beaudry
David A. Green
Benjamin M. Sand

In Search of Labor Demand
w20561 Benjamin J. Keys
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Rates, Household Balance Sheets, and the Real Economy
w20560 Fatih Guvenen
Greg Kaplan
Jae Song

The Glass Ceiling and The Paper Floor: Gender Differences among Top Earners, 1981-2012
w20555 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Resurrecting the Role of the Product Market Wedge in Recessions
w20550 Paul Beaudry
Alban Moura
Franck Portier

Reexamining the Cyclical Behavior of the Relative Price of Investment
w20547 John Laitner
Daniel Silverman
Dmitriy Stolyarov

Annuitized Wealth and Post-Retirement Saving
w20538 Simeon Alder
David Lagakos
Lee Ohanian

Competitive Pressure and the Decline of the Rust Belt: A Macroeconomic Analysis
w20518 John Fernald
Mark M. Spiegel
Eric T. Swanson

Monetary Policy Effectiveness in China: Evidence from a FAVAR Model
w20517 Joseph E. Stiglitz
Reconstructing Macroeconomic Theory to Manage Economic Policy
w20442 Andrea L. Eisfeldt
Tyler Muir

Aggregate External Financing and Savings Waves
w20513 Stelios Michalopoulos
Elias Papaioannou

On the Ethnic Origins of African Development Chiefs and Pre-colonial Political Centralization
w20502 Gene M. Grossman
Elhanan Helpman

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

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

International Trade and Intertemporal Substitution
w20490 Javier Bianchi
Saki Bigio

Banks, Liquidity Management and Monetary Policy
w20486 Eric T. Swanson
John C. Williams

Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates
w20479 Steven J. Davis
John Haltiwanger

Labor Market Fluidity and Economic Performance
w20477 Abhijit Banerjee
Esther Duflo
Richard Hornbeck

How Much do Existing Borrowers Value Microfinance? Evidence from an Experiment on Bundling Microcredit and Insurance
w20474 Oded Galor
Marc Klemp

The Biocultural Origins of Human Capital Formation
w20473 Cosmin Ilut
Matthias Kehrig
Martin Schneider

Slow to Hire, Quick to Fire: Employment Dynamics with Asymmetric Responses to News
w20467 Richard Hornbeck
Daniel Keniston

Creative Destruction: Barriers to Urban Growth and the Great Boston Fire of 1872
w20457 Hyeok Jeong
Yong Kim
Iourii Manovskii

The Price of Experience
w20452 Ezra Oberfield
Devesh Raval

Micro Data and Macro Technology
w20445 Anna Orlik
Laura Veldkamp

Understanding Uncertainty Shocks and the Role of Black Swans
w20441 Ludwig Straub
Iván Werning

Positive Long Run Capital Taxation: Chamley-Judd Revisited
w20440 William Goetzmann
Elena Mamonova
Christophe Spaenjers

The Economics of Aesthetics and Three Centuries of Art Price Records
w20438 Oded Galor
Ömer Özak

The Agricultural Origins of Time Preference
w20437 Lorenz Kueng
Tax News: The Response of Household Spending to Changes in Expected Taxes
w20427 Lucia Foster
Cheryl Grim
John Haltiwanger

Reallocation in the Great Recession: Cleansing or Not?
w20426 Edward L. Glaeser
Charles G. Nathanson

Housing Bubbles
w20423 Robert J. Gordon
A New Method of Estimating Potential Real GDP Growth: Implications for the Labor Market and the Debt/GDP Ratio
w20416 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Entry and Exit in OTC Derivatives Markets
w20406 Yuriy Gorodnichenko
Oleksandr Talavera

Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-border Integration
w20404 Hugo A. Hopenhayn
On the Measure of Distortions
w20391 Peter Benczur
Cosmin L. Ilut

Evidence for Relational Contracts in Sovereign Bank Lending
w20390 Andrew Foerster
Juan Rubio-Ramírez
Daniel F. Waggoner
Tao Zha

Perturbation Methods for Markov-Switching DSGE Models
w20379 John Komlos
Has Creative Destruction Become More Destructive?
w20377 Jianjun Miao
Pengfei Wang
Tao Zha

Discount Shock, Price-Rent Dynamics, and the Business Cycle
w20370 Oliver D. Bunn
Robert J. Shiller

Changing Times, Changing Values: A Historical Analysis of Sectors within the US Stock Market 1872-2013
w20365 Kinda Hachem
Inefficiently Low Screening with Walrasian Markets
w20352 Solomon M. Hsiang
Amir S. Jina

The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth: Evidence From 6,700 Cyclones
w20351 Nathaniel Hendren
Measuring Economic Efficiency Using Inverse-Optimum Weights
w20346 Helios Herrera
Guillermo Ordoñez
Christoph Trebesch

Political Booms, Financial Crises
w20340 Joel M. David
Hugo A. Hopenhayn
Venky Venkateswaran

Information, Misallocation and Aggregate Productivity
w20339 Jens Hilscher
Alon Raviv
Ricardo Reis

Inflating Away the Public Debt? An Empirical Assessment
w20335 Alan Moreira
Alexi Savov

The Macroeconomics of Shadow Banking
w20328 YiLi Chien
Harold L. Cole
Hanno Lustig

Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
w20324 Alan S. Blinder
Mark W. Watson

Presidents and the U.S. Economy: An Econometric Exploration
w20319 David Backus
Axelle Ferriere
Stanley Zin

Risk and Ambiguity in Models of Business Cycles
w20314 Seunghoon Na
Stephanie Schmitt-Grohé
Martin Uribe
Vivian Z. Yue

The Twin Ds: Optimal Default and Devaluation
w20307 Guido Matias Cortes
Nir Jaimovich
Christopher J. Nekarda
Henry E. Siu

The Micro and Macro of Disappearing Routine Jobs: A Flows Approach
w20304 Orazio Attanasio
Britta Augsburg

Holy Cows or Cash Cows?
w20303 Frank Schorfheide
Dongho Song
Amir Yaron

Identifying Long-Run Risks: A Bayesian Mixed-Frequency Approach
w20298 Lorenz Kueng
Evgeny Yakovlev

The Long-Run Effects of a Public Policy on Alcohol Tastes and Mortality
w20291 Edward L. Glaeser
Joshua D. Gottlieb
Oren Ziv

Unhappy Cities
w20287 Morris A. Davis
Stijn Van Nieuwerburgh

Housing, Finance and the Macroeconomy
w20277 Mark Aguiar
Manuel Amador
Emmanuel Farhi
Gita Gopinath

Coordination and Crisis in Monetary Unions
w20273 Kory Kroft
Fabian Lange
Matthew J. Notowidigdo
Lawrence F. Katz

Long-Term Unemployment and the Great Recession: The Role of Composition, Duration Dependence, and Non-Participation
w20263 S. Borağan Aruoba
Jesús Fernández-Villaverde

A Comparison of Programming Languages in Economics
w20260 David Neumark
Jennifer Muz

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

Banks as Secret Keepers
w20254 Efraim Benmelech
Nittai Bergman
Anna Milanez
Vladimir Mukharlyamov

The Agglomeration of Bankruptcy
w20251 Raquel Fernández
Joyce Cheng Wong

Free to Leave? A Welfare Analysis of Divorce Regimes
w20246 Marcin Kacperczyk
Jaromir B. Nosal
Luminita Stevens

Investor Sophistication and Capital Income Inequality
w20244 Angus Deaton
Bettina Aten

Trying to Understand the PPPs in ICP2011: Why are the Results so Different?
w20238 Francesco Bianchi
Leonardo Melosi

Escaping the Great Recession
w20237 Christoph E. Boehm
Christopher L. House

Optimal Taylor Rules in New Keynesian Models
w20224 Mark Gertler
Peter Karadi

Monetary Policy Surprises, Credit Costs and Economic Activity
w20219 Mara P. Squicciarini
Nico Voigtländer

Human Capital and Industrialization: Evidence from the Age of Enlightenment
w20215 Ian W.R. Martin
Robert S. Pindyck

Averting Catastrophes: The Strange Economics of Scylla and Charybdis
w20214 Matthias Doepke
Fabrizio Zilibotti

Parenting with Style: Altruism and Paternalism in Intergenerational Preference Transmission
w20205 Rafael La Porta
Andrei Shleifer

Informality and Development
w20194 Francesco Bianchi
Cosmin Ilut

Monetary/Fiscal Policy Mix and Agents' Beliefs
w20185 Laurence M. Ball
Long-Term Damage from the Great Recession in OECD Countries
w20183 Robert E. Hall
Quantifying the Lasting Harm to the U.S. Economy from the Financial Crisis
w20179 Roberto Perotti
Defense Government Spending Is Contractionary, Civilian Government Spending Is Expansionary
w20175 David Berger
Joseph Vavra

Consumption Dynamics During Recessions
w20168 Lorenzo Caliendo
Fernando Parro
Esteban Rossi-Hansberg
Pierre-Daniel Sarte

The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy
w20165 Anil K. Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

How does macroprudential regulation change bank credit supply?
w20161 Kinda Hachem
Jing Cynthia Wu

Inflation Announcements and Social Dynamics
w20158 Charles Yuji Horioka
Are Americans and Indians More Altruistic than the Japanese and Chinese? Evidence from a New International Survey of Bequest Plans
w20157 Jess Benhabib
Alberto Bisin
Shenghao Zhu

The Wealth Distribution in Bewley Models with Investment Risk
w20155 Fernando Alvarez
Hervé Le Bihan
Francesco Lippi

Small and Large Price Changes and the Propagation of Monetary Shocks
w20154 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

No-Bubble Condition: Model-free Tests in Housing Markets
w20152 Atif Mian
Amir Sufi

House Price Gains and U.S. Household Spending from 2002 to 2006
w20151 Emin Dinlersoz
Jeremy Greenwood
Henry Hyatt

Who do Unions Target? Unionization over the Life-Cycle of U.S. Businesses
w20133 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

Very Long-Run Discount Rates
w20122 Christian Broda
Jonathan A. Parker

The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption
w20117 Jing Cynthia Wu
Fan Dora Xia

Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound
w20102 Nicholas Bloom
Renata Lemos
Raffaella Sadun
Daniela Scur
John Van Reenen

The New Empirical Economics of Management
w20101 Paul Beaudry
Dana Galizia
Franck Portier

Reconciling Hayek's and Keynes Views of Recessions
w20100 Paul S. Willen
Evaluating Policies to Prevent another Crisis: An Economist's View
w20099 Paul Bergin
Ling Feng
Ching-Yi Lin

Financial Frictions and Firm Dynamics
w20098 Charles F. Manski
Communicating Uncertainty in Official Economic Statistics
w20087 Christina D. Romer
David H. Romer

Transfer Payments and the Macroeconomy: The Effects of Social Security Benefit Changes, 1952-1991
w20081 Francesco Bianchi
Cosmin L. Ilut
Martin Schneider

Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle
w20080 Paul S. Willen
Lauren Lambie-Hanson
Lynn M. Fisher

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

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

Financial Health Economics
w20073 Greg Kaplan
Giovanni L. Violante
Justin Weidner

The Wealthy Hand-to-Mouth
w20070 John Y. Campbell
Carolin Pflueger
Luis M. Viceira

Macroeconomic Drivers of Bond and Equity Risks
w20066 Fredrik Andersson
John C. Haltiwanger
Mark J. Kutzbach
Henry O. Pollakowski
Daniel H. Weinberg

Job Displacement and the Duration of Joblessness: The Role of Spatial Mismatch
w20064 Daron Acemoglu
Simon Johnson

Disease and Development: A Reply to Bloom, Canning, and Fink
w20065 Raven Molloy
Christopher L. Smith
Abigail K. Wozniak

Declining Migration within the U.S.: The Role of the Labor Market
w20061 Julian di Giovanni
Andrei Levchenko
Isabelle Mejean

Firms, Destinations, and Aggregate Fluctuations
w20060 Daron Acemoglu
Localized and Biased Technologies: Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change
w20058 Mariacristina De Nardi
Fang Yang

Bequests and Heterogeneity in Retirement Wealth
w20055 Marco Del Negro
Marc P. Giannoni
Frank Schorfheide

Inflation in the Great Recession and New Keynesian Models
w20050 Abhijit Banerjee
Xin Meng
Tommaso Porzio
Nancy Qian

Aggregate Fertility and Household Savings: A General Equilibrium Analysis using Micro Data
w20043 Florian Scheuer
Alexander Wolitzky

Capital Taxation under Political Constraints
w20041 Simon Gilchrist
Benoît Mojon

Credit Risk in the Euro Area
w20040 Lawrence J. Christiano
Martin S. Eichenbaum
Mathias Trabandt

Understanding the Great Recession
w20038 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Uncertainty, Financial Frictions, and Investment Dynamics
w20031 Jesper Bagger
Rasmus Lentz

An Empirical Model of Wage Dispersion with Sorting
w20027 Gary B. Gorton
Andrew Metrick
Lei Xie

The Flight from Maturity
w20025 Vasco M. Carvalho
Nico Voigtländer

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

Using Social Media to Measure Labor Market Flows
w20004 Daron Acemoglu
Suresh Naidu
Pascual Restrepo
James A. Robinson

Democracy Does Cause Growth
w20003 Ron Alquist
Saroj Bhattarai
Olivier Coibion

Commodity-Price Comovement and Global Economic Activity
w19997 Francisco J. Buera
Roberto Fattal-Jaef
Yongseok Shin

Anatomy of a Credit Crunch: From Capital to Labor Markets
w19994 Oleg Itskhoki
Benjamin Moll

Optimal Development Policies with Financial Frictions
w19990 Guido Menzio
Nicholas Trachter

Large and Small Sellers: A Theory of Equilibrium Price Dispersion with Sequential Search
w19988 Rasmus Lentz
Optimal Employment Contracts with Hidden Search
w19981 Jordi Gali
Luca Gambetti

The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence
w19973 Pablo Fajgelbaum
Edouard Schaal
Mathieu Taschereau-Dumouchel

Uncertainty Traps
w19972 Harold L. Cole
Thomas F. Cooley

Rating Agencies
w19970 Anton Korinek
Alp Simsek

Liquidity Trap and Excessive Leverage
w19966 Chang-Tai Hsieh
Benjamin A. Olken

The Missing "Missing Middle"
w19960 Jaume Ventura
Alberto Martin

Managing Credit Bubbles
w19958 Roger Farmer
Asset Prices in a Lifecycle Economy
w19951 Nicholas Bloom
Paul M. Romer
Stephen J. Terry
John Van Reenen

Trapped Factors and China's Impact on Global Growth
w19936 Casey B. Mulligan
The Economics of Work Schedules under the New Hours and Employment Taxes
w19941 Dennis Novy
Alan M. Taylor

Trade and Uncertainty
w19934 Anusha Chari
Peter Blair Henry

Learning From the Doers: Developing Country Lessons for Advanced Economy Growth
w19926 Gregory Clark
Kevin Hjortshøj O'Rourke
Alan M. Taylor

The Growing Dependence of Britain on Trade during the Industrial Revolution
w19924 Alan M. Taylor
The Argentina Paradox: Microexplanations and Macropuzzles
w19917 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

Foreign Ownership of U.S. Safe Assets: Good or Bad?
w19911 Alan J. Auerbach
Yuriy Gorodnichenko

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

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

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

Optimal Tax Progressivity: An Analytical Framework
w19897 Michael Woodford
An Optimizing Neuroeconomic Model of Discrete Choice
w19895 Robert J. Gordon
The Demise of U.S. Economic Growth: Restatement, Rebuttal, and Reflections
w19894 Daron Acemoglu
Ufuk Akcigit
Murat Alp Celik

Young, Restless and Creative: Openness to Disruption and Creative Innovations
w19893 Emi Nakamura
Jón Steinsson
Miao Liu

Are Chinese Growth and Inflation Too Smooth? Evidence from Engel Curves
w19888 Matthias Doepke
Michèle Tertilt

Does Female Empowerment Promote Economic Development?
w19885 Zhiguo He
Arvind Krishnamurthy

A Macroeconomic Framework for Quantifying Systemic Risk
w19877 Greg Kaplan
Guido Menzio

The Morphology of Price Dispersion
w19871 Robert E. Hall
High Discounts and High Unemployment
w19869 Raquel Fernández
Joyce C. Wong

Divorce Risk, Wages, and Working Wives: A Quantitative Life-Cycle Analysis of Female Labor Force Participation
w19864 Fatih Guvenen
Greg Kaplan
Jae Song

How Risky Are Recessions for Top Earners?
w19862 Philip J. Cook
Kenneth Dodge
George Farkas
Roland G. Fryer
Jr
Jonathan Guryan
Jens Ludwig
Susan Mayer
Harold Pollack
Laurence Steinberg

The (Surprising) Efficacy of Academic and Behavioral Intervention with Disadvantaged Youth: Results from a Randomized Experiment in Chicago
w19856 Isaac Ehrlich
Yong Yin

Equilibrium Health Spending and Population Aging in a Model of Endogenous Growth - Will the GDP Share of Health Spending Keep Rising?
w19854 Xavier Gabaix
Matteo Maggiori

International Liquidity and Exchange Rate Dynamics
w19850 Olivier Coibion
Yuriy Gorodnichenko
Marianna Kudlyak
John Mondragon

Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
w19844 Raj Chetty
Nathaniel Hendren
Patrick Kline
Emmanuel Saez
Nicholas Turner

Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility
w19843 Raj Chetty
Nathaniel Hendren
Patrick Kline
Emmanuel Saez

Where is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States
w19840 Anusha Chari
Peter Blair Henry

Two Tales of Adjustment: East Asian Lessons for European Growth
w19837 Daron Acemoglu
David Autor
David Dorn
Gordon H. Hanson
Brendan Price

Return of the Solow Paradox? IT, Productivity, and Employment in U.S. Manufacturing
w19831 Maxim Pinkovskiy
Xavier Sala-i-Martin

Lights, Camera,... Income!: Estimating Poverty Using National Accounts, Survey Means, and Lights
w19830 John G. Fernald
Charles I. Jones

The Future of U.S. Economic Growth
w19829 Jeremy Greenwood
Nezih Guner
Georgi Kocharkov
Cezar Santos

Marry Your Like: Assortative Mating and Income Inequality
w19826 Scott R. Baker
Nicholas Bloom
Brandice Canes-Wrone
Steven J. Davis
Jonathan A. Rodden

Why Has U.S. Policy Uncertainty Risen Since 1960?
w19822 Casey Rothschild
Florian Scheuer

A Theory of Income Taxation under Multidimensional Skill Heterogeneity
w19821 Mark Bils
Yongsung Chang
Sun-Bin Kim

How Sticky Wages in Existing Jobs Can Affect Hiring
w19818 Daniel L. Greenwald
Martin Lettau
Sydney C. Ludvigson

Origins of Stock Market Fluctuations
w19812 Bryan Kelly
Lubos Pastor
Pietro Veronesi

The Price of Political Uncertainty: Theory and Evidence from the Option Market
w19802 Alan Fernihough
Kevin Hjortshøj O'Rourke

Coal and the European Industrial Revolution
w19792 Xu Cheng
Zhipeng Liao
Frank Schorfheide

Shrinkage Estimation of High-Dimensional Factor Models with Structural Instabilities
w19790 Joseph S. Vavra
Time-Varying Phillips Curves
w19789 Liana Fox
Irwin Garfinkel
Neeraj Kaushal
Jane Waldfogel
Christopher Wimer

Waging War on Poverty: Historical Trends in Poverty Using the Supplemental Poverty Measure
w19788 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Dynamic Dispersed Information and the Credit Spread Puzzle
w19777 Pascal Michaillat
Emmanuel Saez

An Economical Business-Cycle Model
2013
w19771 Casey B. Mulligan
Trevor S. Gallen

Wedges, Wages, and Productivity under the Affordable Care Act
w19768 Filipe R. Campante
David H. Yanagizawa-Drott

Does Religion Affect Economic Growth and Happiness? Evidence from Ramadan
w19767 Martin Gervais
Nir Jaimovich
Henry E. Siu
Yaniv Yedid-Levi

Technological Learning and Labor Market Dynamics
w19763 Ufuk Akcigit
Murat Alp Celik
Jeremy Greenwood

Buy, Keep or Sell: Economic Growth and the Market for Ideas
w19749 Eric Sims
Jonathan Wolff

The Output and Welfare Effects of Government Spending Shocks over the Business Cycle
w19744 Carlos Garriga
Finn E. Kydland
Roman Sustek

Mortgages and Monetary Policy
w19728 Jennie Bai
Thomas Philippon
Alexi Savov

Have Financial Markets Become More Informative?
w19717 Mark Aguiar
Manuel Amador

Take the Short Route: How to Repay and Restructure Sovereign Debt with Multiple Maturities
w19715 Russell W. Cooper
Immo Schott

Capital Reallocation and the Cyclicality of Aggregate Productivity
w19714 Nicholas Bloom
Fluctuations in Uncertainty
w19712 Frank Schorfheide
Dongho Song

Real-Time Forecasting with a Mixed-Frequency VAR
w19711 Aloísio Araújo
Susan Schommer
Michael Woodford

Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
w19705 Pierre Collin-Dufresne
Michael Johannes
Lars A. Lochstoer

Parameter Learning in General Equilibrium: The Asset Pricing Implications
w19704 Javier Bianchi
Enrique G. Mendoza

Optimal Time-Consistent Macroprudential Policy
w19693 S. Borağan Aruoba
Luigi Bocola
Frank Schorfheide

Assessing DSGE Model Nonlinearities
w19692 Timothy J. Kehoe
Jack M. Rossbach
Kim J. Ruhl

Using the New Products Margin to Predict the Industry-Level Impact of Trade Reform
w19686 Eric M. Leeper
Xuan Zhou

Inflation's Role in Optimal Monetary-Fiscal Policy
w19684 Efstathios Avdis
Jessica A. Wachter

Maximum likelihood estimation of the equity premium
w19682 Jonathan Zinman
Consumer Credit: Too Much or Too Little (or Just Right)?
w19678 Gabriel Chodorow-Reich
Loukas Karabarbounis

The Cyclicality of the Opportunity Cost of Employment
w19676 Fernando Broner
Aitor Erce
Alberto Martin
Jaume Ventura

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects
w19671 Andrés Fernández
Alessandro Rebucci
Martín Uribe

Are Capital Controls Prudential? An Empirical Investigation
w19667 Fernando E. Alvarez
Francisco J. Buera
Robert E. Lucas
Jr.

Idea Flows, Economic Growth, and Trade
w19662 David Dollar
Benjamin F. Jones

China: An Institutional View of an Unusual Macroeconomy
w19661 Carol H. Shiue
Human Capital and Fertility in Chinese Clans Before Modern Growth
w19657 William R. Kerr
Heterogeneous Technology Diffusion and Ricardian Trade Patterns
w19651 David Berger
Joseph S. Vavra

Volatility and Pass-through
w19647 David S. Abrams
Ufuk Akcigit
Jillian Grennan

Patent Value and Citations: Creative Destruction or Strategic Disruption?
w19640 Shigeru Fujita
Giuseppe Moscarini

Recall and Unemployment
w19638 Yuriy Gorodnichenko
Jae Song
Dmitriy Stolyarov

Macroeconomic Determinants of Retirement Timing
w19635 Alejandro Justiniano
Giorgio Primiceri
Andrea Tambalotti

The Effects of the Saving and Banking Glut on the U.S. Economy
w19630 Nancy L. Stokey
Wait-and-See: Investment Options under Policy Uncertainty
w19628 Douglas Gollin
David Lagakos
Michael E. Waugh

The Agricultural Productivity Gap
w19623 Hanno Lustig
Andreas Stathopoulos
Adrien Verdelhan

The Term Structure of Currency Carry Trade Risk Premia
w19603 Emilio Depetris-Chauvin
David N. Weil

Malaria and Early African Development: Evidence from the Sickle Cell Trait
w19600 Olivier Coibion
Yuriy Gorodnichenko
Dmitri Koustas

Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
w19598 Olivier Coibion
Yuriy Gorodnichenko

Is The Phillips Curve Alive and Well After All? Inflation Expectations and the Missing Disinflation
w19593 Frank R. Lichtenberg
The Impact of Biomedical Knowledge Accumulation on Mortality: A Bibliometric Analysis of Cancer Data
w19589 John Sabelhaus
David Johnson
Stephen Ash
David Swanson
Thesia Garner
John Greenlees
Steve Henderson

Is the Consumer Expenditure Survey Representative by Income?
w19582 Caitlin Blair
Constructing a PCE-Weighted Consumer Price Index
w19578 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

What Do We Learn from the Weather? The New Climate-Economy Literature
w19572 Anton Korinek
Jonathan Kreamer

The Redistributive Effects of Financial Deregulation
w19565 Frank Schorfheide
Kenneth I. Wolpin

To Hold Out or Not to Hold Out
w19561 Ángel Estrada
Jordi Galí
David López-Salido

Patterns of Convergence and Divergence in the Euro Area
w19556 Jeremy Greenwood
David Weiss

Mining Surplus: Modeling James A. Schmitz's Link Between Competition and Productivity
w19553 Casey B. Mulligan
Uncertainty, Redistribution, and the Labor Market
w19548 Cristina Arellano
Yan Bai

Linkages across Sovereign Debt Markets
w19544 Garry Barrett
Peter Levell
Kevin Milligan

A Comparison of Micro and Macro Expenditure Measures Across Countries Using Differing Survey Methods
w19541 Larry G. Epstein
Emmanuel Farhi
Tomasz Strzalecki

How Much Would You Pay to Resolve Long-Run Risk?
w19537 Matthias Doepke
Martin Schneider

Money as a Unit of Account
w19499 Marcus Hagedorn
Fatih Karahan
Iourii Manovskii
Kurt Mitman

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

Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
w19506 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

Sovereigns versus Banks: Credit, Crises, and Consequences
w19504 Jessie Handbury
Tsutomu Watanabe
David E. Weinstein

How Much Do Official Price Indexes Tell Us about Inflation?
w19491 Alexander M. Gelber
Damon Jones
Daniel W. Sacks

Estimating Earnings Adjustment Frictions: Method and Evidence from the Social Security Earnings Test
w19483 Jie Bai
Seema Jayachandran
Edmund J. Malesky
Benjamin A. Olken

Does Economic Growth Reduce Corruption? Theory and Evidence from Vietnam
w19478 Michael W. Elsby
Donggyun Shin
Gary Solon

Wage Adjustment in the Great Recession
w19476 John H. Cochrane
The New-Keynesian Liquidity Trap
w19475 Scott R. Baker
Nicholas Bloom

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments
w19473 Ufuk Akcigit
Douglas Hanley
Nicolas Serrano-Velarde

Back to Basics: Basic Research Spillovers, Innovation Policy and Growth
w19470 Anmol Bhandari
David Evans
Mikhail Golosov
Thomas J. Sargent

Taxes, Debts, and Redistributions with Aggregate Shocks
w19467 Patrick Bolton
Xavier Freixas
Leonardo Gambacorta
Paolo Emilio Mistrulli

Relationship and Transaction Lending in a Crisis
w19466 Bernard Herskovic
Bryan Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Firm Volatility in Granular Networks
w19458 Steven J. Davis
John C. Haltiwanger
Kyle Handley
Ron S. Jarmin
Josh Lerner
Javier Miranda

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

Solving and Estimating Indeterminate DSGE Models
w19456 Kyle Jurado
Sydney C. Ludvigson
Serena Ng

Measuring Uncertainty
w19455 Russell Cooper
Guozhong Zhu

Household Finance: Education, Permanent Income and Portfolio Choice
w19443 Zhen Huo
José-Víctor Ríos-Rull

Paradox of Thrift Recessions
w19431 Gary Hansen
Selo Imrohoroglu

Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective
w19425 Anton Cheremukhin
Mikhail Golosov
Sergei Guriev
Aleh Tsyvinski

Was Stalin Necessary for Russia's Economic Development?
w19421 Hui Chen
Michael Michaux
Nikolai Roussanov

Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty
w19416 Ian Dew-Becker
Stefano Giglio

Asset Pricing in the Frequency Domain: Theory and Empirics
w19414 Òscar Jordà
Alan M. Taylor

The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
w19411 Paul Beaudry
Franck Portier

News Driven Business Cycles: Insights and Challenges
w19408 Jonathan N. Millar
Stephen D. Oliner
Daniel E. Sichel

Time-To-Plan Lags for Commercial Construction Projects
w19391 Roger Farmer
The Stock Market Crash Really Did Cause the Great Recession
w19390 Robert J. Gordon
The Phillips Curve is Alive and Well: Inflation and the NAIRU During the Slow Recovery
w19388 Mark Aguiar
Manuel Amador

Sovereign Debt: A Review
w19386 Rong Hai
Dirk Krueger
Andrew Postlewaite

On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
w19382 Zheng Liu
Jianjun Miao
Tao Zha

Land Prices and Unemployment
w19381 Nicolae Gârleanu
Stavros Panageas
Jianfeng Yu

Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion
w19372 Francisco J. Buera
Joseph P. Kaboski
Min Qiang Zhao

The Rise of Services: the Role of Skills, Scale, and Female Labor Supply
w19371 Robert Ready
Nikolai Roussanov
Colin Ward

Commodity Trade and the Carry Trade: a Tale of Two Countries
w19368 Michael Woodford
Macroeconomic Analysis without the Rational Expectations Hypothesis
w19366 Casey B. Mulligan
Is the Affordable Care Act Different from Romneycare? A Labor Economics Perspective
w19365 Casey B. Mulligan
Average Marginal Labor Income Tax Rates under the Affordable Care Act
w19355 Joshua D. Angrist
Òscar Jordà
Guido Kuersteiner

Semiparametric Estimates of Monetary Policy Effects: String Theory Revisited
w19361 Enrico Spolaore
Romain Wacziarg

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

Identifying monetary policy in macro-finance models
w19350 Eric Anderson
Benjamin A. Malin
Emi Nakamura
Duncan Simester
Jón Steinsson

Informational Rigidities and the Stickiness of Temporary Sales
w19345 Andreas Fuster
Paul S. Willen

Payment Size, Negative Equity, and Mortgage Default
w19343 Harald Uhlig
Sovereign Default Risk and Banks in a Monetary Union
w19339 Timothy J. Kehoe
Kim J. Ruhl
Joseph B. Steinberg

Global Imbalances and Structural Change in the United States
w19327 Xioaji Lin
Chong Wang
Neng Wang
Jinqiang Yang

Investment, Tobin's q, and Interest Rates
w19324 Russell Cooper
Guan Gong
Ping Yan

Costly Labor Adjustment: General Equilibrium Effects of China's Employment Regulations
w19323 Dean Corbae
Erwan Quintin

Leverage and the Foreclosure Crisis
w19319 Chong Wang
Neng Wang
Jinqiang Yang

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

Behavioral Implications of Rational Inattention with Shannon Entropy
w19313 Emmanuel Farhi
Iván Werning

A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
w19297 David Greenlaw
James D. Hamilton
Peter Hooper
Frederic S. Mishkin

Crunch Time: Fiscal Crises and the Role of Monetary Policy
w19296 Marco Bassetto
Marco Cagetti
Mariacristina De Nardi

Credit Crunches and Credit Allocation in a Model of Entrepreneurship
w19288 Ricardo Reis
The Portuguese Slump and Crash and the Euro Crisis
w19287 Christopher J. Ruhm
Recessions, Healthy No More?
w19278 Russell Cooper
Kalin Nikolov

Government Debt and Banking Fragility: The Spreading of Strategic Uncertainty
w19267 Roger E.A. Farmer
The Natural Rate Hypothesis: An idea past its sell-by date
w19265 Lawrence J. Christiano
Martin S. Eichenbaum
Mathias Trabandt

Unemployment and Business Cycles
w19263 Yin-Chi Wang
Ping Wang

Barriers to Health and the Poverty Trap
w19260 Emi Nakamura
Jón Steinsson

High Frequency Identification of Monetary Non-Neutrality: The Information Effect
w19258 Robert J. Barro
Environmental Protection, Rare Disasters, and Discount Rates
w19255 Robert C. Feenstra
Robert Inklaar
Marcel Timmer

The Next Generation of the Penn World Table
w19249 Thomas J. Holmes
Ellen R. McGrattan
Edward C. Prescott

Quid Pro Quo: Technology Capital Transfers for Market Access in China
w19248 S. Borağan Aruoba
Pablo Cuba-Borda
Frank Schorfheide

Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries
w19246 Robin Greenwood
Samuel Hanson

Waves in Ship Prices and Investment
w19187 Ricardo Reis
Central Bank Design
w19238 Matthias Fleckenstein
Francis A. Longstaff
Hanno Lustig

Deflation Risk
w19235 Florian Scheuer
Entrepreneurial Taxation with Endogenous Entry
w19233 James Feyrer
Dimitra Politi
David N. Weil

The Cognitive Effects of Micronutrient Deficiency: Evidence from Salt Iodization in the United States
w19230 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

The Network Origins of Large Economic Downturns
w19228 Guido Lorenzoni
Ivan Werning

Slow Moving Debt Crises
w19221 David K. Levine
Salvatore Modica

Conflict, Evolution, Hegemony, and the Power of the State
w19217 Gian Luca Clementi
Berardino Palazzo

Entry, Exit, Firm Dynamics, and Aggregate Fluctuations
w19213 Dave Donaldson
Richard Hornbeck

Railroads and American Economic Growth: A "Market Access" Approach
w19212 Lawrence E. Blume
William A. Brock
Steven N. Durlauf
Rajshri Jayaraman

Linear Social Interactions Models
w19208 Nicolas Petrosky-Nadeau
Lu Zhang

Solving the DMP Model Accurately
w19207 Nicolas Petrosky-Nadeau
Lu Zhang

Unemployment Crises
w19204 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Measuring the Financial Soundness of U.S. Firms, 1926-2012
w19192 V.V. Chari
Patrick J. Kehoe

Bailouts, Time Inconsistency, and Optimal Regulation
w19184 Oliver D. Hart
Luigi Zingales

Liquidity and Inefficient Investment
w19180 Ruediger Bachmann
Benjamin Born
Steffen Elstner
Christian Grimme

Time-Varying Business Volatility and the Price Setting of Firms
w19152 Edward P. Herbst
Frank Schorfheide

Sequential Monte Carlo Sampling for DSGE Models
w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy
w19141 Matthias Doepke
Fabrizio Zilibotti

Culture, Entrepreneurship, and Growth
w19134 Teresa C. Fort
John Haltiwanger
Ron S. Jarmin
Javier Miranda

How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size
w19136 Loukas Karabarbounis
Brent Neiman

The Global Decline of the Labor Share
w19132 Russell Cooper
Hubert Kempf

Deposit Insurance and Orderly Liquidation without Commitment: Can we Sleep Well?
w19131 Claudia Olivetti
The Female Labor Force and Long-run Development: The American Experience in Comparative Perspective
w19129 Mark Gertler
Nobuhiro Kiyotaki

Banking, Liquidity and Bank Runs in an Infinite-Horizon Economy
w19128 Tom Vogl
Differential Fertility, Human Capital, and Development
w19118 Paul Beaudry
David A. Green
Benjamin M. Sand

Spatial Equilibrium with Unemployment and Wage Bargaining: Theory and Estimation
w19117 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Finance and the Preservation of Wealth
w19099 Christopher J. Nekarda
Valerie A. Ramey

The Cyclical Behavior of the Price-Cost Markup
w19094 Kenneth Burdett
Guido Menzio

(Q,S,s) Pricing Rules
w19085 Kfir Eliaz
Rani Spiegler

Reference-Dependence and Labor-Market Fluctuations
w19067 Joshua Aizenman
Ilan Noy

Saving and the Long Shadow of Macroeconomic Shocks
w19062 Philippe Bacchetta
Eric van Wincoop

The Great Recession: A Self-Fulfilling Global Panic
w19058 Mark L. Egan
Casey B. Mulligan
Tomas J. Philipson

Adjusting National Accounting for Health: Is the Business Cycle Countercyclical?
w19052 Diego A. Comin
Martí Mestieri

Technology Diffusion: Measurement, Causes and Consequences
w19047 Menzie D. Chinn
Laurent Ferrara
Valérie Mignon

Post-recession US Employment through the Lens of a Non-linear Okun's law
w19037 Eugenio S. A. Bobenrieth
Juan R. A. Bobenrieth
Brian D. Wright

Bubble Troubles? Rational Storage, Mean Reversion and Runs in Commodity Prices.
w19035 Liran Einav
Jonathan D. Levin

The Data Revolution and Economic Analysis
w19025 Matteo Cacciatore
Giuseppe Fiori
Fabio Ghironi

Market Deregulation and Optimal Monetary Policy in a Monetary Union
w19024 Manmohan Agarwal
John Whalley

The 1991 Reforms, Indian Economic Growth, and Social Progress
w19022 Guillermo Ordonez
Sustainable Shadow Banking
w19015 Loukas Karabarbounis
The Labor Wedge: MRS vs. MPN
w19010 Diego A. Comin
Martí Mestieri Ferrer

If Technology Has Arrived Everywhere, Why has Income Diverged?
w19008 George J. Hall
Thomas J. Sargent

Fiscal Discriminations in Three Wars
w19000 Alisdair McKay
Ricardo Reis

The Role of Automatic Stabilizers in the U.S. Business Cycle
w18996 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Growth and Structural Transformation
w18992 Betsey Stevenson
Justin Wolfers

Subjective Well-Being and Income: Is There Any Evidence of Satiation?
w18990 Rüdiger Bachmann
Peter Zorn

What Drives Aggregate Investment? Evidence from German Survey Data
w18989 Rüdiger Bachmann
Steffen Elstner

Firms' Optimism and Pessimism
w18983 Martin M. Andreasen
Jesús Fernández-Villaverde
Juan Rubio-Ramírez

The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications
w18980 Elliot Anenberg
Patrick Bayer

Endogenous Sources of Volatility in Housing Markets: The Joint Buyer-Seller Problem
w18979 Fatih Guvenen
Michelle Rendall

Women's Emancipation Through Education: A Macroeconomic Analysis
w18978 Francesco Caselli
Massimo Morelli
Dominic Rohner

The Geography of Inter-State Resource Wars
w18959 Garth Heutel
Christopher J. Ruhm

Air Pollution and Procyclical Mortality
w18956 Jonathan Heathcote
Fabrizio Perri

Assessing International Efficiency
w18954 S. Boraǧan Aruoba
Francis X. Diebold
Jeremy Nalewaik
Frank Schorfheide
Dongho Song

Improving GDP Measurement: A Measurement-Error Perspective
w18953 Jeremy Greenwood
Philipp Kircher
Cezar Santos
Michèle Tertilt

An Equilibrium Model of the African HIV/AIDS Epidemic
w18951 Christopher R. Knittel
Robert S. Pindyck

The Simple Economics of Commodity Price Speculation
w18949 Kerwin Kofi Charles
Erik Hurst
Matthew J. Notowidigdo

Housing Booms, Manufacturing Decline, and Labor Market Outcomes
w18946 Martin Čihák
Asli Demirgüč-Kunt
Erik Feyen
Ross Levine

Financial Development in 205 Economies, 1960 to 2010
w18944 John H. Cochrane
Finance: Function Matters, not Size.
w18941 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Household Leveraging and Deleveraging
w18937 Nicola Gennaioli
Rafael La Porta
Florencio Lopez de Silanes
Andrei Shleifer

Growth in Regions
w18930 Gerald Carlino
Robert P. Inman

Local Deficits and Local Jobs: Can U.S. States Stabilize Their Own Economies?
w18928 David Neumark
Diego Grijalva

The Employment Effects of State Hiring Credits During and After the Great Recession
w18912 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

The Market for OTC Derivatives
w18901 Paul Beaudry
David A. Green
Benjamin M. Sand

The Great Reversal in the Demand for Skill and Cognitive Tasks
w18899 Jesus Fernandez-Villaverde
Luis Garicano
Tano Santos

Political Credit Cycles: The Case of the Euro Zone
w18890 Mary Amiti
David E. Weinstein

How Much do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data
w18883 Marianne Bertrand
Adair Morse

Trickle-Down Consumption
w18878 Jess Benhabib
Pengfei Wang
Yi Wen

Uncertainty and Sentiment-Driven Equilibria
w18877 Eric M. Leeper
Fiscal Limits and Monetary Policy
w18870 Ulrich Mueller
Mark W. Watson

Measuring Uncertainty about Long-Run Prediction
w18868 Manuel Adelino
Antoinette Schoar
Felipe Severino

House Prices, Collateral and Self-Employment
w18864 Marco Bassetto
Christopher Phelan

Speculative Runs on Interest Rate Pegs
w18862 Michael Kremer
Christopher M. Snyder

When Is Prevention More Profitable than Cure? The Impact of Time-Varying Consumer Heterogeneity
w18860 Yuriy Gorodnichenko
Michael Weber

Are Sticky Prices Costly? Evidence From The Stock Market
w18855 Michael Tomz
Mark L. J. Wright

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

Patent Rights, Product Market Reforms, and Innovation
w18829 Ariel Burstein
Gita Gopinath

International Prices and Exchange Rates
w18826 Pascal Michaillat
Emmanuel Saez

Aggregate Demand, Idle Time, and Unemployment
w18825 Edward L. Glaeser
A Nation Of Gamblers: Real Estate Speculation And American History
w18824 Philippe Aghion
Ufuk Akcigit
Peter Howitt

What Do We Learn From Schumpeterian Growth Theory?
w18823 Harold L. Cole
Lee E. Ohanian

The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression
w18821 Matthew Chambers
Carlos Garriga
Donald E. Schlagenhauf

Did Housing Policies Cause the Postwar Boom in Homeownership?
w18808 Wolfgang Keller
Carol H. Shiue

The Link Between Fundamentals and Proximate Factors in Development
w18806 Jordi Galí
Monetary Policy and Rational Asset Price Bubbles
w18800 George-Marios Angeletos
Fabrice Collard
Harris Dellas
Behzad Diba

Optimal Public Debt Management and Liquidity Provision
w18797 Robert E. Hall
Fiscal Stability of High-Debt Nations under Volatile Economic Conditions
w18794 Garth Heutel
Carolyn Fischer

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

Estate Taxation with Altruism Heterogeneity
w18782 Brant Abbott
Giovanni Gallipoli
Costas Meghir
Giovanni L. Violante

Education Policy and Intergenerational Transfers in Equilibrium
w18779 Olivier J. Blanchard
Daniel Leigh

Growth Forecast Errors and Fiscal Multipliers
w18777 Greg Kaplan
Guido Menzio

Shopping Externalities and Self-Fulfilling Unemployment Fluctuations
w18774 Urban Jermann
A Production-Based Model for the Term Structure
w18769 Michael T. Owyang
Valerie A. Ramey
Sarah Zubairy

Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data
w18766 Jaromir Nosal
Guillermo Ordoñez

Uncertainty as Commitment
w18765 Quamrul Ashraf
Stelios Michalopoulos

Climatic Fluctuations and the Diffusion of Agriculture
w18761 Peter A. Diamond
Cyclical Unemployment, Structural Unemployment
w18760 Ellen R. McGrattan
Edward C. Prescott

On Financing Retirement with an Aging Population
w18759 Robert J. Barro
Sanjay P. Misra

Gold Returns
w18751 Kathryn M.E. Dominguez
Matthew D. Shapiro

Forecasting the Recovery from the Great Recession: Is This Time Different?
w18747 Wojciech Kopczuk
Incentive Effects of Inheritances and Optimal Estate Taxation
w18746 Christina D. Romer
David H. Romer

The Missing Transmission Mechanism in the Monetary Explanation of the Great Depression
w18738 Quamrul Ashraf
Oded Galor

Genetic Diversity and the Origins of Cultural Fragmentation
w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
w18732 Gary B. Gorton
Guillermo Ordoñez

The Supply and Demand for Safe Assets
w18730 Ricardo Reis
The Mystique Surrounding the Central Bank's Balance Sheet, Applied to the European Crisis
w18727 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Systemic Risk and Stability in Financial Networks
w18718 Bruce D. Meyer
James X. Sullivan

Winning the War: Poverty from the Great Society to the Great Recession
w18716 John B. Taylor
International Monetary Coordination and the Great Deviation
w18705 Emi Nakamura
Jón Steinsson

Price Rigidity: Microeconomic Evidence and Macroeconomic Implications
w18667 Karl E. Case
John M. Quigley
Robert J. Shiller

Wealth Effects Revisited: 1975-2012
haub10-1 Joseph G. Haubrich and Andrew W. Lo
editors

Quantifying Systemic Risk
w18693 Chang-Tai Hsieh
Erik Hurst
Charles I. Jones
Peter J. Klenow

The Allocation of Talent and U.S. Economic Growth
w18688 Lawrence Christiano
Daisuke Ikeda

Leverage Restrictions in a Business Cycle Model
w18682 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Risk Shocks
w18675 Olivier Jeanne
Anton Korinek

Macroprudential Regulation Versus Mopping Up After the Crash
w18671 Leonid Kogan
Dimitris Papanikolaou
Noah Stoffman

Winners and Losers: Creative Destruction and the Stock Market
w18669 Annamaria Lusardi
Pierre-Carl Michaud
Olivia S. Mitchell

Optimal Financial Knowledge and Wealth Inequality
w18668 Laurence M. Ball
Daniel Leigh
Prakash Loungani

Okun's Law: Fit at Fifty?
w18666 Nicola Pavoni
Ofer Setty
Giovanni L. Violante

Search and Work in Optimal Welfare Programs
w18665 David Card
Stefano DellaVigna

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

Identifying Equilibrium Models of Labor Market Sorting
w18654 Nancy L. Stokey
Catching Up and Falling Behind
w18651 Jordi Galí
Notes for a New Guide to Keynes (I): Wages, Aggregate Demand, and Employment
w18650 Laura Alfaro
Anusha Chari

Deregulation, Misallocation, and Size: Evidence from India
w18647 Roger E.A. Farmer
Carine Nourry
Alain Venditti

The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in the Real World
w18646 A. Craig Burnside
Jeremy J. Graveline

On the Asset Market View of Exchange Rates
w18643 Daiji Kawaguchi
Jungmin Lee
Daniel S. Hamermesh

A Gift of Time
w18638 Julio J. Rotemberg
Prominent Job Advertisements, Group Learning and Wage Dispersion
w18628 Javier Bianchi
Juan Carlos Hatchondo
Leonardo Martinez

International Reserves and Rollover Risk
w18611 Gary Gorton
Andrew Metrick

Securitization
w18603 Michael C. Burda
Daniel S. Hamermesh
Jay Stewart

Cyclical Variation in Labor Hours and Productivity Using the ATUS
w18602 David Lagakos
Benjamin Moll
Tommaso Porzio
Nancy Qian
Todd Schoellman

Experience Matters: Human Capital and Development Accounting
w18584 Wojciech Kopczuk
Taxation of Intergenerational Transfers and Wealth
w18578 Alan J. Auerbach
Yuriy Gorodnichenko

Output Spillovers from Fiscal Policy
w18572 Harold L. Cole
Soojin Kim
Dirk Krueger

Analyzing the Effects of Insuring Health Risks: On the Trade-off between Short Run Insurance Benefits vs. Long Run Incentive Costs
w18565 Raj Chetty
John N. Friedman
Soren Leth-Petersen
Torben Nielsen
Tore Olsen

Active vs. Passive Decisions and Crowdout in Retirement Savings Accounts: Evidence from Denmark
w18563 Alberto Cavallo
Brent Neiman
Roberto Rigobon

Currency Unions, Product Introductions, and the Real Exchange Rate
w18556 Geert Bekaert
Alexander Popov

On the Link Between the Volatility and Skewness of Growth
w18550 Simon Gilchrist
Jae W. Sim
Egon Zakrajšek

Misallocation and Financial Frictions: Some Direct Evidence From the Dispersion in Borrowing Costs
w18546 Klaus Desmet
Esteban Rossi-Hansberg

On the Spatial Economic Impact of Global Warming
w18545 Marina Halac
Pierre Yared

Fiscal Rules and Discretion under Persistent Shocks
w18544 Stephanie Schmitt-Grohé
Martín Uribe

The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery
w18534 Diego A. Comin
Mikhail Dmitriev
Esteban Rossi-Hansberg

The Spatial Diffusion of Technology
w18532 Natalia Ramondo
Andrés Rodríguez-Clare
Milagro Saborío-Rodríguez

Trade, Domestic Frictions, and Scale Effects
w18529 Gary D. Hansen
Minchung Hsu
Junsang Lee

Health Insurance Reform: The Impact of a Medicare Buy-In
w18522 David Card
Jörg Heining
Patrick Kline

Workplace Heterogeneity and the Rise of West German Wage Inequality
w18520 Robert A. Moffitt
The U.S. Employment-Population Reversal in the 2000s: Facts and Explanations
w18512 Alberto F. Alesina
Stelios Michalopoulos
Elias Papaioannou

Ethnic Inequality
w18510 Jonathan A. Parker
LEADS on Macroeconomic Risks to and from the Household Sector
w18507 Greg Kaplan
Sam Schulhofer-Wohl

Understanding the Long-Run Decline in Interstate Migration
w18501 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

Merging Simulation and Projection Approaches to Solve High-Dimensional Problems
w18493 Elizabeth M. Caucutt
Lance Lochner

Early and Late Human Capital Investments, Borrowing Constraints, and the Family
w18490 Alwyn Young
The African Growth Miracle
w18473 Nir Jaimovich
Sergio Rebelo

Non-linear Effects of Taxation on Growth
w18471 Nick Netzer
Florian Scheuer

A Game Theoretic Foundation of Competitive Equilibria with Adverse Selection
w18470 Alessandra Fogli
Laura Veldkamp

Germs, Social Networks and Growth
w18467 Domenico Giannone
Michele Lenza
Giorgio E. Primiceri

Prior Selection for Vector Autoregressions
w18456 John Hassler
Per Krusell
Conny Olovsson

Energy-Saving Technical Change
w18451 Pierre Collin-Dufresne
Vyacheslav Fos

Insider Trading, Stochastic Liquidity and Equilibrium Prices
w18450 Frederico Belo
Pierre Collin-Dufresne
Robert S. Goldstein

Endogenous Dividend Dynamics and the Term Structure of Dividend Strips
w18447 Alessandra Fogli
Enoch Hill
Fabrizio Perri

The Geography of the Great Recession
w18438 Stelios Michalopoulos
Alireza Naghavi
Giovanni Prarolo

Trade and Geography in the Origins and Spread of Islam
w18435 Kewei Hou
Chen Xue
Lu Zhang

Digesting Anomalies: An Investment Approach
w18432 Finn E. Kydland
Peter Rupert
Roman Sustek

Housing Dynamics over the Business Cycle
w18431 Luis Felipe Céspedes
Roberto Chang
Andrés Velasco

Financial Intermediation, Exchange Rates, and Unconventional Policy in an Open Economy
w18421 Roger E.A. Farmer
Qualitative Easing: How it Works and Why it Matters
w18420 Susanto Basu
Brent Bundick

Uncertainty Shocks in a Model of Effective Demand
w18416 Richard Hornbeck
Pinar Keskin

Does Agriculture Generate Local Economic Spillovers? Short-run and Long-run Evidence from the Ogallala Aquifer
w18413 Jess Benhabib
Pengfei Wang
Yi Wen

Sentiments and Aggregate Demand Fluctuations
w18408 Zhiguo He
Konstantin Milbradt

Endogenous Liquidity and Defaultable Bonds
w18406 Florian Scheuer
Adverse Selection In Credit Markets and Regressive Profit Taxation
w18400 Karl E. Case
Robert J. Shiller
Anne Thompson

What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets
w18399 Jesus Fernandez-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Estimating Dynamic Equilibrium Models with Stochastic Volatility
w18397 Gary B. Gorton
Some Reflections on the Recent Financial Crisis
w18391 Francis X. Diebold
Comparing Predictive Accuracy, Twenty Years Later: A Personal Perspective on the Use and Abuse of Diebold-Mariano Tests
w18381 Emmanuel Farhi
Iván Werning

Fiscal Multipliers: Liquidity Traps and Currency Unions
w18377 Russell Cooper
Debt Fragility and Bailouts
w18360 Guillermo Ordoñez
The Asymmetric Effects of Financial Frictions
w18370 Robert E. Hall
The Cyclical Response of Advertising Refutes Counter-Cyclical Profit Margins in Favor of Product-Market Frictions
w18366 Loukas Karabarbounis
Home Production, Labor Wedges, and International Real Business Cycles
w18362 Hideaki Hirata
M. Ayhan Kose
Christopher Otrok
Marco E. Terrones

Global House Price Fluctuations: Synchronization and Determinants
w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses
w18354 Laurence Ales
Pricila Maziero
Pierre Yared

A Theory of Political and Economic Cycles
w18353 Kristopher Gerardi
Eric Rosenblatt
Paul S. Willen
Vincent Yao

Foreclosure externalities: Some new evidence
w18348 Seonghoon Cho
Bennett T. McCallum

Refining Linear Rational Expectations Models and Equilibria
w18311 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Tomasz Piskorski
Amit Seru

Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
w18334 Nir Jaimovich
Henry E. Siu

Job Polarization and Jobless Recoveries
w18333 Edward L. Glaeser
Sari Pekkala Kerr
William R. Kerr

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines
w18315 Robert J. Gordon
Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds
w18323 Bennett T. McCallum
A Continuity Refinement for Rational Expectations Solutions
w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers
w18308 Adam Bee
Bruce D. Meyer
James X. Sullivan

The Validity of Consumption Data: Are the Consumer Expenditure Interview and Diary Surveys Informative?
w18307 John Kennan
Open Borders
w18305 Ravi Bansal
Dana Kiku
Amir Yaron

Risks For the Long Run: Estimation with Time Aggregation
w18304 Efraim Benmelech
An Empirical Analysis of the Fed's Term Auction Facility
w18296 Richard Hornbeck
Suresh Naidu

When the Levee Breaks: Black Migration and Economic Development in the American South
w18295 Robert J. Barro
Convergence and Modernization Revisited
w18284 Roger E.A. Farmer
The Evolution of Endogenous Business Cycles
w18283 Jeffrey A. Frankel
Jesse Schreger

Over-optimistic Official Forecasts in the Eurozone and Fiscal Rules
w18278 Bruce A. Blonigen
Anca D. Cristea

Airports and Urban Growth: Evidence from a Quasi-Natural Policy Experiment
w18280 Ivan Werning
Emmanuel Farhi

Fiscal Unions
w18276 S. Boragan Aruoba
Morris A. Davis
Randall Wright

Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes
w18275 Stelios Michalopoulos
Elias Papaioannou

National Institutions and Subnational Development in Africa
w18273 Olivier Coibion
Yuriy Gorodnichenko
Gee Hee Hong

The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications
w18268 Alberto Chong
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Letter Grading Government Efficiency
w18265 Ayşegül Şahin
Joseph Song
Giorgio Topa
Giovanni L. Violante

Mismatch Unemployment
w18259 Lorenzo Caliendo
Ferdinando Monte
Esteban Rossi-Hansberg

The Anatomy of French Production Hierarchies
w18245 Nicholas Bloom
Max Floetotto
Nir Jaimovich
Itay Saporta-Eksten
Stephen J. Terry

Really Uncertain Business Cycles
w18235 Frank R. Lichtenberg
Pharmaceutical Innovation and Longevity Growth in 30 Developing and High-income Countries, 2000-2009
w18228 Casey Rothschild
Florian Scheuer

Redistributive Taxation in the Roy Model
w18225 Quamrul Ashraf
Boris Gershman
Peter Howitt

How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation
w18224 Stelios Michalopoulos
Elias Papaioannou

Pre-colonial Ethnic Institutions and Contemporary African Development
w18222 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Prediction Markets for Economic Forecasting
w18220 Brigitte C. Madrian
Matching Contributions and Savings Outcomes: A Behavioral Economics Perspective
w18218 Per Krusell
Leena Rudanko

Unions in a Frictional Labor Market
w18217 Zhiguo He
Péter Kondor

Inefficient Investment Waves
w18215 Bennett T. McCallum
Determinacy, Learnability, Plausibility, and the Role of Money in New Keynesian Models
w18213 Etienne Gagnon
David López-Salido
Nicolas Vincent

Individual Price Adjustment along the Extensive Margin
w18199 Emmanuel Farhi
Ivan Werning

Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates
w18193 Francesc Ortega
Giovanni Peri

The Effect of Trade and Migration on Income
w18191 George Alessandria
Joseph Kaboski
Virgiliu Midrigan

Trade Wedges, Inventories, and International Business Cycles
w18181 John H. Cochrane
Continuous-Time Linear Models
w18178 Daron Acemoglu
Martin Kaae Jensen

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

Finding Eldorado: Slavery and Long-run Development in Colombia
w18170 Olivier Coibion
Yuriy Gorodnichenko
Lorenz Kueng
John Silvia

Innocent Bystanders? Monetary Policy and Inequality in the U.S.
w18162 William Easterly
Ross Levine

The European Origins of Economic Development
w18154 Loukas Karabarbounis
Brent Neiman

Declining Labor Shares and the Global Rise of Corporate Saving
w18152 Fernando Alvarez
Francesco Lippi

The Demand of Liquid Assets with Uncertain Lumpy Expenditures
w18151 Mikhail Golosov
Pricila Maziero
Guido Menzio

Taxation and Redistribution of Residual Income Inequality
w18149 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Testing for Keynesian Labor Demand
w18142 Miles S. Kimball
"Getting the Biggest Bang for the Buck in Fiscal Policy"
w18139 Daniel Berkowitz
Mark Hoekstra
Koen Schoors

Does Finance Cause Growth? Evidence from the Origins of Banking in Russia
w18133 Chang-Tai Hsieh
Peter J. Klenow

The Life Cycle of Plants in India and Mexico
w18130 Enrico Spolaore
Romain Wacziarg

How Deep Are the Roots of Economic Development?
w18128 Emi Nakamura
Dmitriy Sergeyev
Jón Steinsson

Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence
w18124 Dana Medianu
John Whalley

Water Availability as a Constraint on China's Future Growth
w18102 Markus K. Brunnermeier
Thomas M. Eisenbach
Yuliy Sannikov

Macroeconomics with Financial Frictions: A Survey
w18114 Jess Benhabib
George W. Evans
Seppo Honkapohja

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?
w18104 Ravi Bansal
Dana Kiku
Ivan Shaliastovich
Amir Yaron

Volatility, the Macroeconomy and Asset Prices
w18094 James H. Stock
Mark W. Watson

Disentangling the Channels of the 2007-2009 Recession
w18091 Jess Benhabib
Jesse Perla
Christopher Tonetti

Catch-up and Fall-back through Innovation and Imitation
w18088 Casey B. Mulligan
Do Welfare Policies Matter for Labor Market Aggregates? Quantifying Safety Net Work Incentives since 2007
w18085 Jordi Galí
Frank Smets
Rafael Wouters

Slow Recoveries: A Structural Interpretation
w18084 Torben G. Andersen
Tim Bollerslev
Peter F. Christoffersen
Francis X. Diebold

Financial Risk Measurement for Financial Risk Management
w18082 Christopher L. Foote
Kristopher S. Gerardi
Paul S. Willen

Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis
w18079 Emin M. Dinlersoz
Jeremy Greenwood

The Rise and Fall of Unions in the U.S.
w18077 Thomas Philippon
Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
w18074 Jess Benhabib
Pengfei Wang

Financial Constraints, Endogenous Markups, and Self-fulfilling Equilibria
w18072 Philippe Aghion
Emmanuel Farhi
Enisse Kharroubi

Monetary Policy, Liquidity, and Growth
w18066 Mark Huggett
Greg Kaplan

The Money Value of a Man
w18062 Andrew K. Rose
Protectionism Isn't Counter-Cyclic (anymore)
w18059 Todd M. Sinai
House Price Moments in Boom-Bust Cycles
w18058 Jesús Fernández-Villaverde
Grey Gordon
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Nonlinear Adventures at the Zero Lower Bound
w18048 Philippe Aghion
Mathias Dewatripont
Luosha Du
Ann Harrison
Patrick Legros

Industrial Policy and Competition
w18042 Sylvain Leduc
Daniel Wilson

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

Competition, Markups, and the Gains from International Trade
w18035 Fatih Guvenen
Serdar Ozkan
Jae Song

The Nature of Countercyclical Income Risk
w18031 Stephanie Schmitt-Grohe
Martin Uribe

Prudential Policy for Peggers
w18022 Melvyn G. Coles
Dale T. Mortensen

Equilibrium Labor Turnover, Firm Growth and Unemployment
w18007 Roger E.A. Farmer
The Effect of Conventional and Unconventional Monetary Policy Rules on Inflation Expectations: Theory and Evidence
w18004 Asli Demirguc-Kunt
Erik Feyen
Ross Levine

The Evolving Importance of Banks and Securities Markets
w17982 Orazio Attanasio
Erik Hurst
Luigi Pistaferri

The Evolution of Income, Consumption, and Leisure Inequality in The US, 1980-2010
w17978 Mario J. Crucini
Christopher I. Telmer

Microeconomic Sources of Real Exchange Rate Variability
w17971 Susanto Basu
Luigi Pascali
Fabio Schiantarelli
Luis Serven

Productivity and the Welfare of Nations
w17966 Jesse Rothstein
The Labor Market Four Years Into the Crisis: Assessing Structural Explanations
w17962 Christopher L. House
Jing Zhang

Layoffs, Lemons and Temps
w17958 Rüdiger Bachmann
Tim O. Berg
Eric R. Sims

Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence
w17956 Martin S. Eichenbaum
Nir Jaimovich
Sergio Rebelo
Josephine Smith

How Frequent Are Small Price Changes?
w17948 Russell Cooper
Guan Gong
Ping Yan

Costly Labor Adjustment: Effects of China's Employment Regulations
w17944 Pierpaolo Benigno
Federica Romei

Debt Deleveraging and The Exchange Rate
w17937 Laurence Ales
Roozbeh Hosseini
Larry E. Jones

Is There "Too Much" Inequality in Health Spending Across Income Groups?
w17934 Nobuhiro Kiyotaki
John Moore

Liquidity, Business Cycles, and Monetary Policy
w17924 Rüdiger Bachmann
Lin Ma

Lumpy Investment, Lumpy Inventories
w17923 Fernando E. Alvarez
Francesco Lippi

Price Setting with menu cost for Multi-product firms
w17917 Richard W. Evans
Laurence J. Kotlikoff
Kerk L. Phillips

Game Over: Simulating Unsustainable Fiscal Policy
w17909 Charles A.E. Goodhart
Anil K. Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Financial Regulation in General Equilibrium
w17908 Russell Cooper
Exit from a Monetary Union through Euroization: Discipline without Chaos
w17905 Francisco J. Buera
Joseph P. Kaboski
Yongseok Shin

The Macroeconomics of Microfinance
w17903 Eric M. Leeper
Todd B. Walker

Perceptions and Misperceptions of Fiscal Inflation
w17900 Cosmin Ilut
Martin Schneider

Ambiguous Business Cycles
w17898 Andrew Atkeson
Christian Hellwig
Guillermo Ordonez

Optimal Regulation in the Presence of Reputation Concerns
w17897 Abhijit Banerjee
Esther Duflo
Nancy Qian

On the Road: Access to Transportation Infrastructure and Economic Growth in China
w17880 Sebastian Dyrda
Greg Kaplan
José-Víctor Ríos-Rull

Business Cycles and Household Formation: The Micro vs the Macro Labor Elasticity
w17877 Maurice Obstfeld
Does the Current Account Still Matter?
w17876 Veronica Guerrieri
Robert Shimer

Dynamic Adverse Selection: A Theory of Illiquidity, Fire Sales, and Flight to Quality
w17872 Karen K. Lewis
Edith X. Liu

International Consumption Risk Is Shared After All: An Asset Return View
w17862 Mathias Trabandt
Harald Uhlig

How Do Laffer Curves Differ Across Countries?
w17860 Christina D. Romer
David H. Romer

The Incentive Effects of Marginal Tax Rates: Evidence from the Interwar Era
w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective
w17853 Lucia Foster
John C. Haltiwanger
Chad Syverson

The Slow Growth of New Plants: Learning about Demand?
w17850 Nicholas Bloom
Christos Genakos
Raffaella Sadun
John Van Reenen

Management Practices Across Firms and Countries
w17844 Huixin Bi
Eric M. Leeper
Campbell B. Leith

Uncertain Fiscal Consolidations
w17841 Stéphane Hallegatte
Geoffrey Heal
Marianne Fay
David Treguer

From Growth to Green Growth - a Framework
w17836 Laurence M. Ball
Ben Bernanke and the Zero Bound
w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises
w17830 Atif R. Mian
Amir Sufi

What explains high unemployment? The aggregate demand channel
w17822 Shekhar Aiyar
Charles W. Calomiris
Tomasz Wieladek

Does Macro-Pru Leak? Evidence from a UK Policy Experiment
w17814 Johannes F. Schmieder
Till M. von Wachter
Stefan Bender

The Long-Term Effects of Unemployment Insurance Extensions on Employment
w17813 Johannes F. Schmieder
Till M. von Wachter
Stefan Bender

The Effects of Extended Unemployment Insurance over the Business Cycle: Evidence from Regression Discontinuity Estimates Over Twenty Years
w17794 Nathan Nunn
Nancy Qian

Aiding Conflict: The Impact of U.S. Food Aid on Civil War
w17791 Daniel F. Waggoner
Tao Zha

Confronting Model Misspecification in Macroeconomics
w17787 Valerie A. Ramey
Government Spending and Private Activity
w17783 Xavier Gabaix
Boundedly Rational Dynamic Programming: Some Preliminary Results
w17782 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger

Recruiting Intensity during and after the Great Recession: National and Industry Evidence
w17780 Joon-Ho Hahm
Frederic S. Mishkin
Hyun Song Shin
Kwanho Shin

Macroprudential Policies in Open Emerging Economies
w17779 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Ayşegül Şahin

Is Labor Supply Important for Business Cycles?
w17775 Francisco J. Buera
Benjamin Moll

Aggregate Implications of a Credit Crunch
w17767 Ariel Burstein
Javier Cravino

Measured Aggregate Gains from International Trade
w17769 Leonid Kogan
Dimitris Papanikolaou
Amit Seru
Noah Stoffman

Technological Innovation, Resource Allocation, and Growth
w17759 James D. Hamilton
Oil Prices, Exhaustible Resources, and Economic Growth
w17757 John Hassler
Per Krusell

Economics and Climate Change: Integrated Assessment in a Multi-Region World
w17746 Guido Menzio
Irina A. Telyukova
Ludo Visschers

Directed Search over the Life Cycle
w17742 Lars-Alexander Kuehn
Nicolas Petrosky-Nadeau
Lu Zhang

An Equilibrium Asset Pricing Model with Labor Market Search
w17735 Jeremy Greenwood
Nezih Guner
Georgi Kocharkov
Cezar Santos

Technology and the Changing Family: A Unified Model of Marriage, Divorce, Educational Attainment and Married Female Labor-Force Participation
w17723 Tim Landvoigt
Monika Piazzesi
Martin Schneider

The Housing Market(s) of San Diego
2011
w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
w17714 Tom Krebs
Moritz Kuhn
Mark L. J. Wright

Human Capital Risk, Contract Enforcement, and the Macroeconomy
w17701 William R. Kerr
Income Inequality and Social Preferences for Redistribution and Compensation Differentials
w17700 Timothy J. Kehoe
Felipe Meza

Catch-up Growth Followed by Stagnation: Mexico, 1950-2010
w17688 Mariacristina De Nardi
Eric French
David Benson

Consumption and the Great Recession
w17686 Eric van Wincoop
International Contagion Through Leveraged Financial Institutions
w17672 Matthias Doepke
Michèle Tertilt
Alessandra Voena

The Economics and Politics of Women's Rights
w17666 Kristopher Gerardi
Lauren Lambie-Hanson
Paul S. Willen

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process
w17662 Emmanuel Farhi
Gita Gopinath
Oleg Itskhoki

Fiscal Devaluations
w17659 Rui Castro
Gian Luca Clementi
Yoonsoo Lee

Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks
w17656 Francesco Caselli
Antonio Ciccone

The Contribution of Schooling in Development Accounting: Results from a Nonparametric Upper Bound
w17654 Casey B. Mulligan
The Expanding Social Safety Net
w17651 Paul Beaudry
Deokwoo Nam
Jian Wang

Do Mood Swings Drive Business Cycles and is it Rational?
w17642 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski

Optimal Dynamic Taxes
w17641 Maurice Obstfeld
The International Monetary System: Living with Asymmetry
w17640 Quamrul Ashraf
Oded Galor

Cultural Diversity, Geographical Isolation, and the Origin of the Wealth of Nations
w17638 Steven J. Davis
Till M. von Wachter

Recessions and the Cost of Job Loss
w17622 Fatih Guvenen
Macroeconomics With Heterogeneity: A Practical Guide
w17620 Stelios Michalopoulos
Elias Papaioannou

The Long-Run Effects of the Scramble for Africa
w17617 Martin S. Feldstein
The Euro and European Economic Conditions
w17607 Orley C. Ashenfelter
Economic History or History of Economics? A Review Essay on Sylvia Nasar's Grand Pursuit: the Story of Economic Genius
w17601 Francesco Caselli
Andrea Tesei

Resource Windfalls, Political Regimes, and Political Stability
w17600 John Cawley
Asako S. Moriya
Kosali I. Simon

The Impact of the Macroeconomy on Health Insurance Coverage: Evidence from the Great Recession
w17594 Gita Gopinath
Oleg Itskhoki
Brent Neiman

Trade Prices and the Global Trade Collapse of 2008-2009
w17584 Casey B. Mulligan
Rising Labor Productivity during the 2008-9 Recession
w17583 Veronica Guerrieri
Guido Lorenzoni

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

Optimal Monetary Policy with Informational Frictions
w17575 Ravi Bansal
Marcelo Ochoa

Temperature, Aggregate Risk, and Expected Returns
w17574 Ravi Bansal
Marcelo Ochoa

Welfare Costs of Long-Run Temperature Shifts
w17571 Roberto Perotti
The "Austerity Myth": Gain Without Pain?
w17566 Fernando E. Alvarez
Francesco Lippi

Persistent Liquidity Effects and Long Run Money Demand
w17564 Ian Martin
The Forward Premium Puzzle in a Two-Country World
w17563 Ian Martin
The Lucas Orchard
w17562 Marco Battaglini
Stephen Coate

Fiscal Policy and Unemployment
w17560 Nicolas Coeurdacier
Pierre-Olivier Gourinchas

When Bonds Matter: Home Bias in Goods and Assets
w17555 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy
w17553 Costas Arkolakis
A Unified Theory of Firm Selection and Growth
w17552 Guido Sandleris
Mark L.J. Wright

The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis
w17551 Daniel A. Dias
Christine J. Richmond
Mark L.J. Wright

The Stock of External Sovereign Debt: Can We Take the Data At 'Face Value'?
w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information
w17547 Alan L. Gustman
Thomas L. Steinmeier
Nahid Tabatabai

How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?
w17546 Dani Rodrik
Unconditional Convergence
w17544 Aaron Weisbrod
John Whalley

The Contribution of Chinese FDI to Africa's Pre Crisis Growth Surge
w17543 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez

Supply-Side Policies and the Zero Lower Bound
w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector
w17537 Karsten Jeske
Dirk Krueger
Kurt Mitman

Housing and the Macroeconomy: The Role of Bailout Guarantees for Government Sponsored Enterprises
w17536 James M. Poterba
Steven F. Venti
David A. Wise

The Composition and Draw-down of Wealth in Retirement
w17534 Jesse Rothstein
Unemployment Insurance and Job Search in the Great Recession
w17520 Allen Head
Lucy Qian Liu
Guido Menzio
Randall Wright

Sticky Prices: A New Monetarist Approach
w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions
w17512 Jonathan Chiu
Cesaire Meh
Randall Wright

Innovation and Growth with Financial, and other, Frictions
w17511 Yuet-Yee Wong
Randall Wright

Buyers, Sellers and Middlemen: Variations on Search-Theoretic Themes
w17510 Chao Gu
Randall Wright

Endogenous Credit Cycles
w17508 Raquel Fernández
Joyce Cheng Wong

The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work
w17500 Yiting Li
Guillaume Rocheteau
Pierre-Olivier Weill

Liquidity and the Threat of Fraudulent Assets
w17495 Robert E. Lucas
Jr.
Benjamin Moll

Knowledge Growth and the Allocation of Time
w17493 Andrew Atkeson
Ariel T. Burstein

Aggregate Implications of Innovation Policy
w17490 Francis X. Diebold
Kamil Yilmaz

On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms
w17489 Florin O. Bilbiie
Ippei Fujiwara
Fabio Ghironi

Optimal Monetary Policy with Endogenous Entry and Product Variety
w17487 Benjamin F. Jones
The Human Capital Stock: A Generalized Approach
w17479 Roger E.A. Farmer
The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence
w17454 Tobias Adrian
Markus K. Brunnermeier

CoVaR
w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
w17464 Lubos Pastor
Pietro Veronesi

Political Uncertainty and Risk Premia
w17457 Mark A. Aguiar
Manuel Amador

Fiscal Policy in Debt Constrained Economies
w17448 Igor Livshits
James MacGee
Michèle Tertilt

Costly Contracts and Consumer Credit
w17447 Alan J. Auerbach
Yuriy Gorodnichenko

Fiscal Multipliers in Recession and Expansion
w17445 Casey B. Mulligan
Means-Tested Subsidies and Economic Performance Since 2007
w17444 Eric M. Leeper
Nora Traum
Todd B. Walker

Clearing Up the Fiscal Multiplier Morass
w17433 Gianmarco I.P. Ottaviano
Firm Heterogeneity, Endogenous Entry, and the Business Cycle
w17430 Michael P. Keane
Richard Rogerson

Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective
w17429 Alejandro Justiniano
Claudio Michelacci

The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the US and Europe
w17424 Yuriy Gorodnichenko
Anna Mikusheva
Serena Ng

Estimators for Persistent and Possibly Non-Stationary Data with Classical Properties
w17421 S. Boragan Aruoba
Francis X. Diebold
Jeremy Nalewaik
Frank Schorfheide
Dongho Song

Improving GDP Measurement: A Forecast Combination Perspective
w17420 Lee E. Ohanian
Andrea Raffo

Aggregate Hours Worked in OECD Countries: New Measurement and Implications for Business Cycles
w17418 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

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

Equity Yields
w17406 Gregory J. Colman
Dhaval M. Dave

Exercise, Physical Activity, and Exertion over the Business Cycle
w17400 Dani Rodrik
The Future of Economic Convergence
w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment
w17398 Benjamin A. Olken
Rohini Pande

Corruption in Developing Countries
w17391 Emi Nakamura
Jón Steinsson

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions
w17389 Tommaso Monacelli
Vincenzo Quadrini
Antonella Trigari

Financial Markets and Unemployment
w17377 Quamrul H. Ashraf
David N. Weil
Joshua Wilde

The Effect of Interventions to Reduce Fertility on Economic Growth
w17348 Mikhail Golosov
John Hassler
Per Krusell
Aleh Tsyvinski

Optimal Taxes on Fossil Fuel in General Equilibrium
w17347 Ralph Ossa
Trade Wars and Trade Talks with Data
w17344 Ivan Werning
Managing a Liquidity Trap: Monetary and Fiscal Policy
w17338 Greg Kaplan
Giovanni L. Violante

A Model of the Consumption Response to Fiscal Stimulus Payments
w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives
w17328 Robert J. Barro
José F. Ursua

Rare Macroeconomic Disasters
w17319 Sanjay K. Chugh
Fabio Ghironi

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

Fiscal Volatility Shocks and Economic Activity
w17313 Kyle F. Herkenhoff
Lee E. Ohanian

Labor Market Dysfunction During the Great Recession
w17311 Aubhik Khan
Julia K. Thomas

Credit Shocks and Aggregate Fluctuations in an Economy with Production Heterogeneity
w17308 Lorenzo Caliendo
Esteban Rossi-Hansberg

The Impact of Trade on Organization and Productivity
w17294 Steven J. Davis
Jason Faberman
John C. Haltiwanger

Labor Market Flows in the Cross Section and Over Time
w17291 Paul Beaudry
Franck Portier

A Gains from Trade Perspective on Macroeconomic Fluctuations
w17284 Melvyn G. Coles
Dale T. Mortensen

Equilibrium Wage and Employment Dynamics in a Model of Wage Posting without Commitment
w17278 Craig Burnside
Carry Trades and Risk
w17277 François Gourio
Michael Siemer
Adrien Verdelhan

International Risk Cycles
w17274 Laurence M. Ball
Nicolás De Roux
Marc Hofstetter

Unemployment in Latin America and the Caribbean
w17260 Martin S. Feldstein
What's Next for the Dollar?
w17259 Mark A. Aguiar
Erik Hurst
Loukas Karabarbounis

Time Use During Recessions
w17252 Pierre-Olivier Gourinchas
Maurice Obstfeld

Stories of the Twentieth Century for the Twenty-First
w17240 Jonathan A. Parker
On Measuring the Effects of Fiscal Policy in Recessions
w17231 Nicholas Bloom
Helena Schweiger
John Van Reenen

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

Public Consumption Over the Business Cycle
w17229 George-Marios Angeletos
Luigi Iovino
Jennifer La'O

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

The "Out of Africa" Hypothesis, Human Genetic Diversity, and Comparative Economic Development
w17201 Fabrizio Perri
Vincenzo Quadrini

International Recessions
w17191 Francois Gourio
Leena Rudanko

Customer Capital
w17187 Michael C. Burda
Jennifer Hunt

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

The Economic Impact of Social Ties: Evidence from German Reunification
w17179 Robert E. Hall
Clashing Theories of Unemployment
w17158 Nicola Gennaioli
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Human Capital and Regional Development
w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees
w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor
w17142 Lawrence Christiano
Daisuke Ikeda

Government Policy, Credit Markets and Economic Activity
w17140 Hyungsik Roger Moon
Frank Schorfheide
Eleonora Granziera
Mihye Lee

Inference for VARs Identified with Sign Restrictions
w17137 Roger Farmer
Animal Spirits, Financial Crises and Persistent Unemployment
w17133 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Risk, Monetary Policy and the Exchange Rate
w17130 Xiaohong Chen
Jack Favilukis
Sydney C. Ludvigson

An Estimation of Economic Models with Recursive Preferences
w17128 Angus S. Deaton
The Financial Crisis and the Well-Being of Americans
w17111 Thorsten Drautzburg
Harald Uhlig

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

Banks, Market Organization, and Macroeconomic Performance: An Agent-Based Computational Analysis
w17100 Nune Hovhannisyan
Wolfgang Keller

International Business Travel: An Engine of Innovation?
w17098 Alberto F. Alesina
Paola Giuliano
Nathan Nunn

On the Origins of Gender Roles: Women and the Plough
w17094 Charles I. Jones
Life and Growth
w17084 Jordi Galí
Frank Smets
Rafael Wouters

Unemployment in an Estimated New Keynesian Model
w17075 Oded Galor
Stelios Michalopoulos

Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits
w17071 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Is there a trade-off between inflation and output stabilization?
w17064 Harold L. Cole
Felix Kubler

Recursive Contracts, Lotteries and Weakly Concave Pareto Sets
w17063 Rüdiger Bachmann
Eric R. Sims

Confidence and the Transmission of Government Spending Shocks
w17060 George-Marios Angeletos
Jennifer La'O

Decentralization, Communication, and the Origins of Fluctuations
w17058 Oded Galor
Inequality, Human Capital Formation and the Process of Development
w17057 Oded Galor
The Demographic Transition: Causes and Consequences
w17045 Zheng Liu
Pengfei Wang
Tao Zha

Land-price dynamics and macroeconomic fluctuations
w17044 Laurence M. Ball
Sandeep Mazumder

Inflation Dynamics and the Great Recession
w17041 Erik Hurst
Benjamin Wild Pugsley

What Do Small Businesses Do?
w17037 Quamrul Ashraf
Oded Galor

Dynamics and Stagnation in the Malthusian Epoch
w17034 Olivier Coibion
Are the Effects of Monetary Policy Shocks Big or Small?
w17027 Tarek A. Hassan
Thomas M. Mertens

The Social Cost of Near-Rational Investment
w17026 Francois Gourio
Credit Risk and Disaster Risk
w17021 Simon Gilchrist
Egon Zakrajšek

Credit Spreads and Business Cycle Fluctuations
w17005 Bennett T. McCallum
Should Central Banks Raise their Inflation Targets? Some Relevant Issues
w16996 Martin Lettau
Sydney C. Ludvigson

Shocks and Crashes
w16988 Igal Hendel
Aviv Nevo

Intertemporal Price Discrimination in Storable Goods Markets
w16984 Daron Acemoglu
Diversity and Technological Progress
w16979 Fiorella De Fiore
Harald Uhlig

Bank Finance Versus Bond Finance
w16972 John H. Cochrane
Discount Rates
w16970 Marco Bassetto
Leslie McGranahan

On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States
w16968 Jed Kolko
David Neumark
Marisol Cuellar Mejia

What Do Business Climate Indexes Teach Us About State Policy and Economic Growth?
w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects
w16966 Daron Acemoglu
Simon Johnson
James A. Robinson

Hither Thou Shalt Come, But No Further: Reply to "The Colonial Origins of Comparative Development: An Empirical Investigation: Comment"
w16965 Callum Jones
Virgiliu Midrigan
Thomas Philippon

Household Leverage and the Recession
w16958 Gita Gopinath
Brent Neiman

Trade Adjustment and Productivity in Large Crises
w16957 Yosef Bonaparte
Russell Cooper
Guozhong Zhu

Consumption Smoothing and Portfolio Rebalancing: The Effects of Adjustment Costs
w16951 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Foresight and Information Flows
w16945 Jeffrey A. Frankel
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile
w16942 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Carry Trade and Momentum in Currency Markets
w16934 Edward L. Glaeser
Giacomo A.M. Ponzetto
Kristina Tobio

Cities, Skills, and Regional Change
w16924 Andrew Glover
Jonathan Heathcote
Dirk Krueger
José-Víctor Ríos-Rull

Intergenerational Redistribution in the Great Recession
w16911 Xavier Gabaix
A Sparsity-Based Model of Bounded Rationality
w16904 Ariel Burstein
Jonathan Vogel

Factor Prices and International Trade: A Unifying Perspective
w16891 Betsey Stevenson
Justin Wolfers

Trust in Public Institutions over the Business Cycle
w16889 Janice C. Eberly
Sergio Rebelo
Nicolas Vincent

What Explains the Lagged Investment Effect?
w16867 Ippei Fujiwara
Tomoyuki Nakajima
Nao Sudo
Yuki Teranishi

Global Liquidity Trap
w16862 Rüdiger Bachmann
Christian Bayer

Uncertainty Business Cycles - Really?
w16861 Rüdiger Bachmann
Christian Bayer

Investment Dispersion and the Business Cycle
w16848 Karl E. Case
John M. Quigley
Robert J. Shiller

Wealth Effects Revisited 1978-2009
w16847 Stephanie Schmitt-Grohé
Martin Uríbe

Pegs and Pain
w16843 Chong Wang
Neng Wang
Jinqiang Yang

A Unified Model of Entrepreneurship Dynamics
w16836 Hyun Song Shin
Kwanho Shin

Procyclicality and Monetary Aggregates
w16832 Jess Benhabib
Alejandro Corvalan
Mark M. Spiegel

Reestablishing the Income-Democracy Nexus
w16829 John F. Helliwell
Haifang Huang

New measures of the costs of unemployment: Evidence from the subjective well-being of 3.3 million Americans
w16819 Eric M. Leeper
Todd B. Walker

Fiscal Limits in Advanced Economies
w16816 Jess Benhabib
Chetan Dave

Learning, Large Deviations and Rare Events
w16810 Sydney C. Ludvigson
Advances in Consumption-Based Asset Pricing: Empirical Tests
w16807 Mark A. Aguiar
Mark Bils

Has Consumption Inequality Mirrored Income Inequality?
w16800 Shang-Jin Wei
Xiaobo Zhang

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

Temporarily Unstable Government Debt and Inflation
w16790 James D. Hamilton
Historical Oil Shocks
w16786 Roberto Perotti
The Effects of Tax Shocks on Output: Not So Large, But Not Small Either
w16784 Patrick Bayer
Christopher Geissler
Kyle Mangum
James W. Roberts

Speculators and Middlemen: The Strategy and Performance of Investors in the Housing Market
w16781 Frank Schorfheide
Estimation and Evaluation of DSGE Models: Progress and Challenges
w16777 Nicolae Gârleanu
Lasse Heje Pedersen

Margin-Based Asset Pricing and Deviations from the Law of One Price
w16775 Hyunseung Oh
Ricardo Reis

Targeted Transfers and the Fiscal Response to the Great Recession
w16774 Ellen R. McGrattan
Transition to FDI Openness: Reconciling Theory and Evidence
w16771 Dennis Tao Yang
Junsen Zhang
Shaojie Zhou

Why Are Saving Rates so High in China?
w16769 Robert J. Barro
Rachel M. McCleary

Saints Marching In, 1590-2009
w16764 Alexander David
Pietro Veronesi

Investors' and Central Bank's Uncertainty Embedded in Index Options
w16759 James Feyrer
Bruce Sacerdote

Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act
w16758 Isabel Correia
Emmanuel Farhi
Juan Pablo Nicolini
Pedro Teles

Unconventional Fiscal Policy at the Zero Bound
w16755 Frederic S. Mishkin
Monetary Policy Strategy: Lessons from the Crisis
w16752 Russell Cooper
Hubert Kempf

Deposit Insurance Without Commitment: Wall St. Versus Main St
w16750 Emmanuel Farhi
Jean Tirole

Bubbly Liquidity
w16749 Emmanuel Farhi
Iván Werning

Insurance and Taxation over the Life Cycle
w16748 Kerwin Kofi Charles
Erik Hurst
Alexandra Killewald

Marital Sorting and Parental Wealth
w16747 Laura Xiaolei Liu
Lu Zhang

A Model of Momentum
w16744 Severin Borenstein
On the Persistent Financial Losses of U.S. Airlines: A Preliminary Exploration
w16742 Charles I. Jones
Misallocation, Economic Growth, and Input-Output Economics
w16741 Robert E. Hall
The Long Slump
w16734 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Understanding Booms and Busts in Housing Markets
w16729 Raj Chetty
Adam Guren
Dayanand S. Manoli
Andrea Weber

Does Indivisible Labor Explain the Difference Between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities
w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts
w16717 Nicholas Bloom
Mirko Draca
John Van Reenen

Trade Induced Technical Change? The Impact of Chinese Imports on Innovation, IT and Productivity
w16708 Kenneth Judd
Lilia Maliar
Serguei Maliar

One-node Quadrature Beats Monte Carlo: A Generalized Stochastic Simulation Algorithm
w16707 Olivier Coibion
Yuriy Gorodnichenko

Why Are Target Interest Rate Changes So Persistent?
w16705 David E. Bloom
David Canning
Günther Fink

Implications of Population Aging for Economic Growth
w16701 Sam Schulhofer-Wohl
Negative Equity Does Not Reduce Homeowners' Mobility
w16696 Pierre-André Chiappori
Krislert Samphantharak
Sam Schulhofer-Wohl
Robert M. Townsend

Heterogeneity and Risk Sharing in Village Economies
w16688 Charles W. Calomiris
Joseph Mason
David Wheelock

Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach
w16685 Atif Mian
Amir Sufi
Francesco Trebbi

Foreclosures, House Prices, and the Real Economy
w16684 Jonathan A. Parker
Nicholas S. Souleles
David S. Johnson
Robert McClelland

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

A Dynamic Theory of Resource Wars
w16680 Judith A. Chevalier
Anil K. Kashyap

Best Prices
w16666 Jonathan Eaton
Samuel Kortum
Brent Neiman
John Romalis

Trade and the Global Recession
w16658 Nicholas Bloom
Benn Eifert
Aprajit Mahajan
David McKenzie
John Roberts

Does Management Matter? Evidence from India
w16657 James D. Hamilton
Michael T. Owyang

The Propagation of Regional Recessions
2010
w16648 Ralph S.J. Koijen
Stijn Van Nieuwerburgh

Predictability of Returns and Cash Flows
w16646 Frédéric Docquier
Çaǧlar Özden
Giovanni Peri

The Wage Effects of Immigration and Emigration
w16644 Roger E.A. Farmer
Dmitry Plotnikov

Does Fiscal Policy Matter? Blinder and Solow Revisited
w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics
w16631 Matthew N. Luzzetti
Lee E. Ohanian

The General Theory of Employment, Interest, and Money After 75 Years: The Importance of Being in the Right Place at the Right Time
w16640 Fernando A. Broner
Jaume Ventura

Rethinking the Effects of Financial Liberalization
w16636 Richard Rogerson
Individual and Aggregate Labor Supply With Coordinated Working Times
w16634 Craig Burnside
Identification and Inference in Linear Stochastic Discount Factor Models with Excess Returns
w16633 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Second-Order Approximation of Dynamic Models with Time-Varying Risk
w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
w16619 Mikhail Golosov
Maxim Troshkin
Aleh Tsyvinski
Matthew Weinzierl

Preference Heterogeneity and Optimal Capital Income Taxation
w16618 Jesús Fernández-Villaverde
Juan Rubio-Ramírez

Macroeconomics and Volatility: Data, Models, and Estimation
w16615 Klaus Desmet
Esteban Rossi-Hansberg

Urban Accounting and Welfare
w16609 Frederic S. Mishkin
Over The Cliff: From the Subprime to the Global Financial Crisis
w16599 Kenneth J. Arrow
Partha Dasgupta
Lawrence H. Goulder
Kevin J. Mumford
Kirsten Oleson

Sustainability and the Measurement of Wealth
w16596 Larry E. Jones
Alice Schoonbroodt

Baby Busts and Baby Booms: The Fertility Response to Shocks in Dynastic Models
w16592 John Whalley
Xiliang Zhao

The Contribution of Human Capital to China's Economic Growth
w16588 Ellen R. McGrattan
Capital Taxation During the U.S. Great Depression
w16580 Timothy J. Kehoe
Kim J. Ruhl

Why Have Economic Reforms in Mexico Not Generated Growth?
w16577 Jonathan A. Parker
Annette Vissing-Jorgensen

The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares
w16571 David K. Levine
Production Chains
w16544 Fredrik Andersson
Mónica García-Pérez
John C. Haltiwanger
Kristin McCue
Seth Sanders

Workplace Concentration of Immigrants
w16541 Ryan Kellogg
The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling
w16537 Olivier Coibion
Yuriy Gorodnichenko

Information Rigidity and the Expectations Formation Process: A Simple Framework and New Facts
w16536 Greg Kaplan
Sam Schulhofer-Wohl

Interstate Migration Has Fallen Less Than You Think: Consequences of Hot Deck Imputation in the Current Population Survey
w16532 James H. Stock
Mark W. Watson

Estimating Turning Points Using Large Data Sets
w16531 Andrew Paciorek
Todd M. Sinai

Does Home Owning Smooth the Variability of Future Housing Consumption?
w16528 Sebnem Kalemli-Ozcan
Herman Kamil
Carolina Villegas-Sanchez

What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?
w16527 Erik Hurst
Geng Li
Benjamin Pugsley

Are Household Surveys Like Tax Forms: Evidence from Income Underreporting of the Self Employed
w16526 Camille Landais
Pascal Michaillat
Emmanuel Saez

A Macroeconomic Theory of Optimal Unemployment Insurance
w16522 Roger E.A. Farmer
Animal Spirits, Persistent Unemployment and the Belief Function
w16515 Eric A. Hanushek
Ludger Woessmann

How Much Do Educational Outcomes Matter in OECD Countries?
w16514 Stephanie Schmitt-Grohé
Martín Uribe

Liquidity Traps: An Interest-Rate-Based Exit Strategy
w16443 Ufuk Akcigit
William R. Kerr

Growth Through Heterogeneous Innovations
w16510 Eric M. Leeper
Monetary Science, Fiscal Alchemy
w16505 John F. Cogan
John B. Taylor

What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package
w16498 Russell Cooper
Guan Gong
Ping Yan

Dynamic Labor Demand in China: Public and Private Objectives
w16495 Troy Davig
Eric M. Leeper
Todd B. Walker

Inflation and the Fiscal Limit
w16488 James H. Stock
Mark W. Watson

Modeling Inflation After the Crisis
w16487 Dave Donaldson
Railroads of the Raj: Estimating the Impact of Transportation Infrastructure
w16469 Francis X. Diebold
Georg Strasser

On the Correlation Structure of Microstructure Noise: A Financial Economic Approach
w16458 Antje Berndt
Hanno Lustig
Sevin Yeltekin

How Does the U.S. Government Finance Fiscal Shocks?
w16451 Martin S. Feldstein
Preventing a National Debt Explosion
w16441 Daniel W. Sacks
Betsey Stevenson
Justin Wolfers

Subjective Well-Being, Income, Economic Development and Growth
w16424 Vasco M. Carvalho
Xavier Gabaix

The Great Diversification and its Undoing
w16416 Harald Uhlig
Economics and Reality
w16411 Daron Acemoglu
Dan Vu Cao

Innovation by Entrants and Incumbents
w16410 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Dynamics of Information Exchange in Endogenous Social Networks
w16402 Lawrence Christiano
Cosmin L. Ilut
Roberto Motto
Massimo Rostagno

Monetary Policy and Stock Market Booms
w16401 Yongsung Chang
Sun-Bin Kim
Frank Schorfheide

Labor-Market Heterogeneity, Aggregation, and the Lucas Critique
w16400 Francisco J. Buera
Yongseok Shin

Financial Frictions and the Persistence of History: A Quantitative Exploration
w16399 Alberto Martin
Jaume Ventura

Theoretical Notes on Bubbles and the Current Crisis
w16393 Pedro Teles
Harald Uhlig

Is Quantity Theory Still Alive?
w16390 Zhi Wang
Shang-Jin Wei
Anna Wong

Does a Leapfrogging Growth Strategy Raise Growth Rate? Some International Evidence
w16386 Pierpaolo Benigno
Luigi Paciello

Monetary Policy, Doubts and Asset Prices
w16384 Jordi Galí
Are Central Banks' Projections Meaningful?
w16380 Robert J. Gordon
Robert Krenn

The End of the Great Depression 1939-41: Policy Contributions and Fiscal Multipliers
w16379 Diego A. Comin
Martí Mestieri

An Intensive Exploration of Technology Diffusion
w16378 Diego A. Comin
Bart Hobijn

Technology Diffusion and Postwar Growth
w16377 Olivier Jeanne
Anton Korinek

Managing Credit Booms and Busts: A Pigouvian Taxation Approach
w16375 Erika Färnstrand Damsgaard
Per Krusell

The World Distribution of Productivity: Country TFP Choice in a Nelson-Phelps Economy
w16374 Pierpaolo Benigno
Luca Antonio Ricci
Paolo Surico

Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility
w16368 Yuriy Gorodnichenko
Gerard Roland

Culture, Institutions and the Wealth of Nations
w16364 Patrick J. Kehoe
Virgiliu Midrigan

Prices are Sticky After All
w16363 Eric M. Leeper
Alexander W. Richter
Todd B. Walker

Quantitative Effects of Fiscal Foresight
w16357 Casey B. Mulligan
Does Labor Supply Matter During a Recession? Evidence from the Seasonal Cycle
w16352 Charles I. Jones
Peter J. Klenow

Beyond GDP? Welfare across Countries and Time
w16351 Atif Mian
Amir Sufi

The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program
w16337 Adam Ashcraft
Nicolae Gârleanu
Lasse Heje Pedersen

Two Monetary Tools: Interest Rates and Haircuts
w16327 Fatih Guvenen
Anthony Smith

Inferring Labor Income Risk from Economic Choices: An Indirect Inference Approach
w16314 Hoyt Bleakley
Jeffrey Lin

Portage: Path Dependence and Increasing Returns in U.S. History
w16311 Alan J. Auerbach
Yuriy Gorodnichenko

Measuring the Output Responses to Fiscal Policy
w16309 Murillo Campello
Erasmo Giambona
John R. Graham
Campbell R. Harvey

Liquidity Management and Corporate Investment During a Financial Crisis
w16304 Serguei Maliar
Lilia Maliar
Kenneth L. Judd

Solving the Multi-Country Real Business Cycle Model Using Ergodic Set Methods
w16300 John C. Haltiwanger
Ron S. Jarmin
Javier Miranda

Who Creates Jobs? Small vs. Large vs. Young
w16289 Karel Mertens
Morten Ravn

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks
w16285 Andrew Caplin
John V. Leahy

Comparative Statics in Markets for Indivisible Goods
w16284 Andrew Caplin
John V. Leahy

A Graph Theoretic Approach to Markets for Indivisible Goods
w16277 Raquel Fernández
Does Culture Matter?
w16275 Mathias Dolls
Clemens Fuest
Andreas Peichl

Automatic Stabilizers and Economic Crisis: US vs. Europe
w16265 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger

The Establishment-Level Behavior of Vacancies and Hiring
w16264 S. Boragan Aruoba
Francis X. Diebold
M. Ayhan Kose
Marco E. Terrones

Globalization, the Business Cycle, and Macroeconomic Monitoring
w16247 Ruediger Bachmann
Jinhui Bai

Government Purchases Over the Business Cycle: the Role of Economic and Political Inequality
w16246 Claudia R. Sahm
Matthew D. Shapiro
Joel Slemrod

Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?
w16237 Veronica Guerrieri
Daniel Hartley
Erik Hurst

Endogenous Gentrification and Housing Price Dynamics
w16230 Edward L. Glaeser
Joshua D. Gottlieb
Joseph Gyourko

Can Cheap Credit Explain the Housing Boom?
w16218 David K. Backus
Federico Gavazzoni
Christopher Telmer
Stanley E. Zin

Monetary Policy and the Uncovered Interest Parity Puzzle
w16208 Vasco Curdia
Michael Woodford

The Central-Bank Balance Sheet as an Instrument of Monetary Policy
w16186 James D. Hamilton
Nonlinearities and the Macroeconomic Effects of Oil Prices
w16183 Anisha Ghosh
George M. Constantinides

The Predictability of Returns with Regime Shifts in Consumption and Dividend Growth
w16181 Larry G. Epstein
Martin Schneider

Ambiguity and Asset Markets
w16169 Ryan Chahrour
Stephanie Schmitt-Grohé
Martín Uribe

A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier
w16163 Ryan D. Edwards
A Review of War Costs in Iraq and Afghanistan
w16162 James D. Hamilton
Calling Recessions in Real Time
w16159 Philippe Bacchetta
Cédric Tille
Eric van Wincoop

Self-Fulfilling Risk Panics
w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts
w16150 Jan Hatzius
Peter Hooper
Frederic S. Mishkin
Kermit L. Schoenholtz
Mark W. Watson

Financial Conditions Indexes: A Fresh Look after the Financial Crisis
w16146 Stefania Albanesi
Claudia Olivetti

Maternal Health and the Baby Boom
w16145 Christopher L. House
Yusufcan Masatlioglu

Managing Markets for Toxic Assets
w16143 Ruediger Bachmann
Steffen Elstner
Eric R. Sims

Uncertainty and Economic Activity: Evidence from Business Survey Data
w16130 Alessandro Barattieri
Susanto Basu
Peter Gottschalk

Some Evidence on the Importance of Sticky Wages
w16128 Lubos Pastor
Pietro Veronesi

Uncertainty about Government Policy and Stock Prices
w16115 Sebnem Kalemli-Ozcan
Belgi Turan

HIV and Fertility Revisited
w16108 Ryan D. Edwards
U.S. War Costs: Two Parts Temporary, One Part Permanent
w16095 Michael Woodford
Optimal Monetary Stabilization Policy
w16093 Olivier Coibion
Yuriy Gorodnichenko
Johannes F. Wieland

The Optimal Inflation Rate in New Keynesian Models
w16091 Javier Bianchi
Enrique G. Mendoza

Overborrowing, Financial Crises and 'Macro-prudential' Taxes
w16087 John H. Cochrane
Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic
w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
w16075 Mario J. Crucini
Mototsugu Shintani

Measuring Business Cycles by Saving for a Rainy Day
w16074 Lawrence J. Christiano
Mathias Trabandt
Karl Walentin

DSGE Models for Monetary Policy Analysis
w16071 Stephanie Schmitt-Grohé
Martín Uribe

Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity
w16067 Valerie A. Ramey
Daniel J. Vine

Oil, Automobiles, and the U.S. Economy: How Much have Things Really Changed?
w16065 Gita Gopinath
Oleg Itskhoki

In Search of Real Rigidities
w16059 George Alessandria
Joseph P. Kaboski
Virgiliu Midrigan

The Great Trade Collapse of 2008-09: An Inventory Adjustment?
w16054 Stephanie Schmitt-Grohe
Martin Uribe

The Optimal Rate of Inflation
w16051 Frank R. Lichtenberg
Are Increasing 5-Year Survival Rates Evidence of Success Against Cancer? A reexamination using data from the U.S. and Australia
w16043 John Fernald
Brent Neiman

Growth Accounting with Misallocation: Or, Doing Less with More in Singapore
w16033 Robert E. Hall
Alan B. Krueger

Evidence on the Determinants of the Choice between Wage Posting and Wage Bargaining
w16032 Nicholas Bloom
Carol Propper
Stephan Seiler
John Van Reenen

The Impact of Competition on Management Quality: Evidence from Public Hospitals
w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes
w15979 Michael W. Elsby
Bart Hobijn
Aysegul Sahin

The Labor Market in the Great Recession
w16022 Yosef Bonaparte
Russell Cooper

Rationalizing Trading Frequency and Returns
w16007 Susan E. Woodward
Robert E. Hall

Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence
w16002 Benjamin Jones
As Science Evolves, How Can Science Policy?
w15998 Raj Chetty
Adam Szeidl

The Effect of Housing on Portfolio Choice
w15988 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
w15986 Marc P. Giannoni
Optimal Interest-Rate Rules in a Forward-Looking Model, and Inflation Stabilization versus Price-Level Stabilization
w15983 Guido Menzio
Espen R. Moen

Worker replacement
w15981 Daniel Berger
William Easterly
Nathan Nunn
Shanker Satyanath

Commercial Imperialism? Political Influence and Trade During the Cold War
w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis
w15973 Abhijit Banerjee
Sendhil Mullainathan

The Shape of Temptation: Implications for the Economic Lives of the Poor
w15971 Casey B. Mulligan
The Housing Cycle and Prospects for Technical Progress
w15965 Kenneth L. Judd
Lilia Maliar
Serguei Maliar

A Cluster-Grid Projection Method: Solving Problems with High Dimensionality
w15962 Hamish Low
Luigi Pistaferri

Disability Risk, Disability Insurance and Life Cycle Behavior
w15955 Patrick Bajari
Phoebe Chan
Dirk Krueger
Daniel Miller

A Dynamic Model of Housing Demand: Estimation and Policy Implications
w15949 Eric A. Hanushek
Ludger Woessmann

The Economics of International Differences in Educational Achievement
w15958 Daron Acemoglu
Gino Gancia
Fabrizio Zilibotti

Competing Engines of Growth: Innovation and Standardization
w15931 Tommaso Monacelli
Roberto Perotti
Antonella Trigari

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

Reading the Recent Monetary History of the U.S., 1959-2007
w15928 Jesús Fernández-Villaverde
Pablo Guerrón-Quintana
Juan F. Rubio-Ramírez

Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data
w15927 Olivier Jeanne
Anton Korinek

Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach
w15923 Erik Snowberg
Justin Wolfers

Explaining the Favorite-Longshot Bias: Is it Risk-Love or Misperceptions?
w15920 Emi Nakamura
Jón Steinsson
Robert Barro
José Ursúa

Crises and Recoveries in an Empirical Model of Consumption Disasters
w15908 John B. Taylor
John C. Williams

Simple and Robust Rules for Monetary Policy
w15914 Costas Meghir
Luigi Pistaferri

Earnings, Consumption and Lifecycle Choices
w15909 Eric M. Aldrich
Jesús Fernández-Villaverde
A. Ronald Gallant
Juan F. Rubio-Ramírez

Tapping the Supercomputer Under Your Desk: Solving Dynamic Equilibrium Models with Graphics Processors
w15902 Robert J. Barro
Jong-Wha Lee

A New Data Set of Educational Attainment in the World, 1950-2010
w15901 Richard Rogerson
Robert Shimer

Search in Macroeconomic Models of the Labor Market
w15897 Casey B. Mulligan
Luke Threinen

The Marginal Products of Residential and Non-Residential Capital Through 2009
w15896 Atif R. Mian
Amir Sufi

Household Leverage and the Recession of 2007 to 2009
w15893 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Quantifying the Impact of Financial Development on Economic Development
w15891 Angus S. Deaton
Understanding the mechanisms of economic development
w15890 Jules van Binsbergen
Jesús Fernández-Villaverde
Ralph S.J. Koijen
Juan F. Rubio-Ramírez

The Term Structure of Interest Rates in a DSGE Model with Recursive Preferences
w15888 Etsuro Shioji
Taisuke Uchino

Pass-Through of Oil Prices to Japanese Domestic Prices
w15883 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Beauty Contests and Irrational Exuberance: A Neoclassical Approach
w15879 Jean Boivin
Michael T. Kiley
Frederic S. Mishkin

How Has the Monetary Transmission Mechanism Evolved Over Time?
w15878 Edward P. Lazear
Why Do Inventories Rise When Demand Falls in Housing and Other Markets?
w15871 Jordi Galí
Monetary Policy and Unemployment
w15870 Alberto Martin
Jaume Ventura

Economic Growth with Bubbles
w15867 Eric A. Hanushek
Ludger Woessmann

Sample Selectivity and the Validity of International Student Achievement Tests in Economic Research
w15866 Craig Burnside
Bing Han
David Hirshleifer
Tracy Yue Wang

Investor Overconfidence and the Forward Premium Puzzle
w15859 Laurent E. Calvet
Paolo Sodini

Twin Picks: Disentangling the Determinants of Risk-Taking in Household Portfolios
w15852 Fernando E. Alvarez
Francesco Lippi
Luigi Paciello

Optimal price setting with observation and menu costs
w15847 Marco Del Negro
Fabrizio Perri
Fabiano Schivardi

Tax buyouts
w15835 Fernando E. Alvarez
Luigi Guiso
Francesco Lippi

Durable consumption and asset management with transaction and observation costs
w15834 Robert J. Gordon
Revisiting U. S. Productivity Growth over the Past Century with a View of the Future
w15829 Andreas Fuster
Paul S. Willen

Insuring Consumption Using Income-Linked Assets
w15826 Peter J. Klenow
Benjamin A. Malin

Microeconomic Evidence on Price-Setting
w15813 Philippe Aghion
Peter Howitt
Fabrice Murtin

The Relationship Between Health and Growth: When Lucas Meets Nelson-Phelps
w15810 Huixin Bi
Eric M. Leeper

Sovereign Debt Risk Premia and Fiscal Policy in Sweden
w15802 Diego Aragon
Andrew Caplin
Sumit Chopra
John V. Leahy
Yann LeCun
Marco Scoffier
Joseph Tracy

Reassessing FHA Risk
w15801 Lawrence J. Christiano
Mathias Trabandt
Karl Walentin

Involuntary Unemployment and the Business Cycle
w15800 Casey B. Mulligan
Simple Analytics and Empirics of the Government Spending Multiplier and Other "Keynesian" Paradoxes
w15792 Yuriy Gorodnichenko
Monika Schnitzer

Financial constraints and innovation: Why poor countries don't catch up
w15791 Ichiro Fukunaga
Naohisa Hirakata
Nao Sudo

The Effects of Oil Price Changes on the Industry-Level Production and Prices in the U.S. and Japan
w15790 Paul Beaudry
David A. Green
Benjamin M. Sand

How Much Is Employment Increased by Cutting Labor Costs? Estimating the Elasticity of Job Creation
w15786 Liran Einav
Jonathan D. Levin

Empirical Industrial Organization: A Progress Report
w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection
w15782 Troy Davig
Eric M. Leeper
Todd B. Walker

"Unfunded Liabilities" and Uncertain Fiscal Financing
w15777 Casey B. Mulligan
Foreclosures, Enforcement, and Collections under the Federal Mortgage Modification Guidelines
w15775 Xavier Sala-i-Martin
Maxim Pinkovskiy

African Poverty is Falling...Much Faster than You Think!
w15774 Vasco Cúrdia
Ricardo Reis

Correlated Disturbances and U.S. Business Cycles
w15773 N. Gregory Mankiw
Ricardo Reis

Imperfect Information and Aggregate Supply
w15767 Pedro S. Martins
Gary Solon
Jonathan Thomas

Measuring What Employers Really Do about Entry Wages over the Business Cycle
w15762 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Output Trade-off with Downward Wage Rigidities
w15759 David Laibson
Johanna Mollerstrom

Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis
w15758 Jordi Galí
The Return of the Wage Phillips Curve
w15756 Orazio P. Attanasio
Guglielmo Weber

Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy
w15755 Paul M. Romer
Which Parts of Globalization Matter for Catch-up Growth?
w15754 Christopher J. Nekarda
Valerie A. Ramey

Industry Evidence on the Effects of Government Spending
w15739 Tullio Jappelli
Luigi Pistaferri

The Consumption Response to Income Changes
w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection
w15726 Takatoshi Ito
Great Inflation and Central Bank Independence in Japan
w15721 Robert W. Fogel
Further Comments on The Impact of the Asian Miracle on the Theory of Economic Growth
w15714 Michael Woodford
Simple Analytics of the Government Expenditure Multiplier
w15712 Chad Syverson
What Determines Productivity?
w15711 Benjamin F. Jones
Benjamin A. Olken

Climate Shocks and Exports
w15705 Fernanda Brollo
Tommaso Nannicini
Roberto Perotti
Guido Tabellini

The Political Resource Curse
w15702 George J. Hall
Thomas J. Sargent

Interest Rate Risk and Other Determinants of Post-WWII U.S. Government Debt/GDP Dynamics
w15690 Bennett T. McCallum
Is the Spurious Regression Problem Spurious?
w15688 Ralph S.J. Koijen
Hanno Lustig
Stijn Van Nieuwerburgh

The Cross-Section and Time-Series of Stock and Bond Returns
w15685 Martin S. Feldstein
U.S. Growth in the Decade Ahead
w15681 Casey B. Mulligan
Aggregate Implications of Labor Market Distortions: The Recession of 2008-9 and Beyond
w15677 Jesús Fernández-Villaverde
Jeremy Greenwood
Nezih Guner

From Shame to Game in One Hundred Years: An Economic Model of the Rise in Premarital Sex and its De-Stigmatization
w15675 Russell Cooper
John C. Haltiwanger
Jonathan L. Willis

Euler-Equation Estimation for Discrete Choice Models: A Capital Accumulation Application
w15663 Alice Schoonbroodt
Michèle Tertilt

Who Owns Children and Does it Matter?
w15662 Ricardo Reis
Interpreting the Unconventional U.S. Monetary Policy of 2007-09
w15657 S. Boragan Aruoba
Francis X. Diebold

Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions
w15652 Andrei Shleifer
Robert W. Vishny

Asset Fire Sales and Credit Easing
w15647 Virgiliu Midrigan
Daniel Yi Xu

Finance and Misallocation: Evidence from Plant-level Data
w15645 Peter Temin
The Great Recession and the Great Depression
w15642 Jean Boivin
Robert Clark
Nicolas Vincent

Virtual Borders: Online Nominal Rigidities and International Market Segmentation
w15636 Ricardo J. Caballero
The "Other" Imbalance and the Financial Crisis
w15630 Andrew Levin
John B. Taylor

Falling Behind the Curve: A Positive Analysis of Stop-Start Monetary Policies and the Great Inflation
2009
w15628 Costas Arkolakis
Arnaud Costinot
Andrés Rodríguez-Clare

New Trade Models, Same Old Gains?
w15626 Johannes C. Stroebel
John B. Taylor

Estimated Impact of the Fed's Mortgage-Backed Securities Purchase Program
w15617 Raj Chetty
John N. Friedman
Tore Olsen
Luigi Pistaferri

Adjustment Costs, Firm Responses, and Micro vs. Macro Labor Supply Elasticities: Evidence from Danish Tax Records
w15616 Raj Chetty
Bounds on Elasticities with Optimization Frictions: A Synthesis of Micro and Macro Evidence on Labor Supply
w15604 Natalia Ramondo
Andrés Rodríguez-Clare

Trade, Multinational Production, and the Gains from Openness
w15583 Alexander M. Gelber
Joshua W. Mitchell

Taxes and Time Allocation: Evidence from Single Women
w15582 Dirk Krueger
Fabrizio Perri

Public versus Private Risk Sharing
w15579 Susanto Basu
Luigi Pascali
Fabio Schiantarelli
Luis Serven

Productivity, Welfare and Reallocation: Theory and Firm-Level Evidence
w15570 Alejandro Justiniano
Giorgio E. Primiceri
Andrea Tambalotti

Investment Shocks and Business Cycles
w15561 Stefano Eusepi
Bruce Preston

Labor Supply Heterogeneity and Macroeconomic Co-movement
w15557 James Feyrer
Distance, Trade, and Income - The 1967 to 1975 Closing of the Suez Canal as a Natural Experiment
w15554 Dirk Krueger
Fabrizio Perri
Luigi Pistaferri
Giovanni L. Violante

Cross Sectional Facts for Macroeconomists
w15553 Greg Kaplan
Giovanni L. Violante

How Much Consumption Insurance Beyond Self-Insurance?
w15550 Francesco Caselli
Guy Michaels

Do Oil Windfalls Improve Living Standards? Evidence from Brazil
w15545 Alex Edmans
Xavier Gabaix

Tractability in Incentive Contracting
w15526 Fatih Guvenen
Burhanettin Kuruscu
Serdar Ozkan

Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis
w15519 Domenico Giannone
Michele Lenza

The Feldstein-Horioka fact
w15514 Eric M. Leeper
Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle
w15513 Mikhail Golosov
Guido Lorenzoni
Aleh Tsyvinski

Decentralized Trading with Private Information
w15512 Moritz Schularick
Alan M. Taylor

Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008
w15509 Wolfgang Keller
Stephen R. Yeaple

The Gravity of Knowledge
w15502 William N. Goetzmann
Luc Renneboog
Christophe Spaenjers

Art and Money
w15496 Robert E. Hall
By How Much Does GDP Rise if the Government Buys More Output?
w15494 Stephanie Schmitt-Grohé
Martín Uribe

Foreign Demand for Domestic Currency and the Optimal Rate of Inflation
w15490 Eric J. Bartelsman
John C. Haltiwanger
Stefano Scarpetta

Cross-Country Differences in Productivity: The Role of Allocation and Selection
w15487 Dimitri Vayanos
Jean-Luc Vila

A Preferred-Habitat Model of the Term Structure of Interest Rates
w15483 Jonathan Heathcote
Fabrizio Perri
Giovanni L. Violante

Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006
w15479 Ricardo J. Caballero
Alp Simsek

Fire Sales in a Model of Complexity
w15477 Alejandrina Salcedo
Todd Schoellman
Michèle Tertilt

Families as Roommates: Changes in U.S. Household Size from 1850 to 2000
w15474 James Feyrer
The US Productivity Slowdown, the Baby Boom, and Management Quality
w15467 Olivier J. Blanchard
Marianna Riggi

Why are the 2000s so different from the 1970s? A structural interpretation of changes in the macroeconomic effects of oil prices
w15464 Valerie A. Ramey
Identifying Government Spending Shocks: It's All in the Timing
w15462 Todd M. Sinai
Nicholas S. Souleles

Can Owning a Home Hedge the Risk of Moving?
w15459 John H. Cochrane
Can Learnability Save New-Keynesian Models?
w15457 Nicolae Gârleanu
Leonid Kogan
Stavros Panageas

The Demographics of Innovation and Asset Returns
w15455 Simon Johnson
William Larson
Chris Papageorgiou
Arvind Subramanian

Is Newer Better? Penn World Table Revisions and Their Impact on Growth Estimates
w15451 Daron Acemoglu
Philippe Aghion
Leonardo Bursztyn
David Hemous

The Environment and Directed Technical Change
w15450 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Rational Attention Allocation Over the Business Cycle
w15448 Laura Alfaro
Anusha Chari

India Transformed? Insights from the Firm Level 1988-2005
w15442 Wolfgang Keller
International Trade, Foreign Direct Investment, and Technology Spillovers
w15433 Maxim Pinkovskiy
Xavier Sala-i-Martin

Parametric Estimations of the World Distribution of Income
w15432 Enrique G. Mendoza
Vincenzo Quadrini

Financial Globalization, Financial Crises and Contagion
w15428 Diego A. Comin
Norman Loayza
Farooq Pasha
Luis Serven

Medium Term Business Cycles in Developing Countries
w15427 Peter Howitt
Ömer Özak

Adaptive Consumption Behavior
w15421 Claudia R. Sahm
Matthew D. Shapiro
Joel B. Slemrod

Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications
w15416 Berthold Herrendorf
Richard Rogerson
Ákos Valentinyi

Two Perspectives on Preferences and Structural Transformation
w15414 Ricardo Lagos
Guillaume Rocheteau
Pierre-Olivier Weill

Crises and Liquidity in Over-the-Counter Markets
w15409 Hernán D. Rozenfeld
Diego Rybski
Xavier Gabaix
Hernán A. Makse

The Area and Population of Cities: New Insights from a Different Perspective on Cities
w15407 Alan J. Auerbach
William G. Gale

Activist Fiscal Policy to Stabilize Economic Activity
w15405 Stavros Panageas
Optimal taxation in the presence of bailouts
w15404 Ravi Jagannathan
Mudit Kapoor
Ernst Schaumburg

Causes of the Great Recession of 2007-9: The Financial Crisis is the Symptom not the Disease!
w15400 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Power Fluctuations and Political Economy
w15399 François Gourio
Disasters Risk and Business Cycles
w15394 Lawrence Christiano
Martin Eichenbaum
Sergio Rebelo

When is the government spending multiplier large?
w15385 Lars E.O. Svensson
Evaluating Monetary Policy
w15382 Yi-Li Chien
Harold L. Cole
Hanno Lustig

Is the Volatility of the Market Price of Risk due to Intermittent Portfolio Re-balancing?
w15377 Edward L. Glaeser
William R. Kerr
Giacomo A.M. Ponzetto

Clusters of Entrepreneurship
w15375 José-Víctor Ríos-Rull
Frank Schorfheide
Cristina Fuentes-Albero
Maxym Kryshko
Raül Santaeulàlia-Llopis

Methods versus Substance: Measuring the Effects of Technology Shocks on Hours
w15373 Robert S. Pindyck
Neng Wang

The Economic and Policy Consequences of Catastrophes
w15369 Robert J. Barro
Charles J. Redlick

Macroeconomic Effects from Government Purchases and Taxes
w15368 Adi Brender
Allan Drazen

Do Leaders Affect Government Spending Priorities?
w15362 Amir E. Khandani
Andrew W. Lo
Robert C. Merton

Systemic Risk and the Refinancing Ratchet Effect
w15359 Emi Nakamura
Jón Steinsson

Lost in Transit: Product Replacement Bias and Pricing to Market
w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth
w15355 Raquel Fernández
Women's Rights and Development
w15351 Robert J. Gordon
Misperceptions About the Magnitude and Timing of Changes in American Income Inequality
w15349 Klaus Desmet
Esteban Rossi-Hansberg

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

Mom-and-Pop Meet Big-Box: Complements or Substitutes?
w15343 Mathias Trabandt
Harald Uhlig

How Far Are We From The Slippery Slope? The Laffer Curve Revisited
w15340 Nicolae B. Gârleanu
Stavros Panageas
Jianfeng Yu

Technological Growth and Asset Pricing
w15338 Urban Jermann
Vincenzo Quadrini

Macroeconomic Effects of Financial Shocks
w15334 William N. Goetzmann
Liang Peng
Jacqueline Yen

The Subprime Crisis and House Price Appreciation
w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts
w15319 Diego A. Comin
Bart Hobijn

The CHAT Dataset
w15312 Robert B. Barsky
Eric R. Sims

News Shocks
w15302 Daron Acemoglu
Mikhail Golosov
Aleh Tsyvinski

Political Economy of Ramsey Taxation
w15299 Shawn Kantor
Alexander Whalley

Do Universities Generate Agglomeration Spillovers? Evidence from Endowment Value Shocks
w15296 Kenneth Judd
Lilia Maliar
Serguei Maliar

Numerically Stable Stochastic Simulation Approaches for Solving Dynamic Economic Models
w15290 Martin S. Feldstein
Economic Conditions and U.S. National Security in the 1930s and Today
w15258 Lee E. Ohanian
What - or Who - Started the Great Depression?
w15287 Alan S. Blinder
Alan B. Krueger

Alternative Measures of Offshorability: A Survey Approach
w15286 Xavier Gabaix
The Granular Origins of Aggregate Fluctuations
w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
w15282 Per Krusell
Toshihiko Mukoyama
Aysegul Sahin

Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations
w15281 Casey B. Mulligan
Means-Tested Mortgage Modification: Homes Saved or Income Destroyed?
w15275 Asli Demirguc-Kunt
Ross Levine

Finance and Inequality: Theory and Evidence
w15273 Gary B. Gorton
Andrew Metrick

Haircuts
w15269 Eric M. Leeper
Anchoring Fiscal Expectations
w15268 Francisco J. Buera
Yongseok Shin

Productivity Growth and Capital Flows: The Dynamics of Reforms
w15257 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Consumption and Labor Supply with Partial Insurance: An Analytical Framework
w15255 Emi Nakamura
Dawit Zerom

Accounting for Incomplete Pass-Through
w15252 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Labor Market Outcomes: The Role of Choice and Chance
w15251 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

A Three State Model of Worker Flows in General Equilibrium
w15247 Robert J. Barro
Tao Jin

On the Size Distribution of Macroeconomic Disasters
w15243 Fatih Guvenen
A Parsimonious Macroeconomic Model for Asset Pricing
w15240 David Backus
Mikhail Chernov
Ian Martin

Disasters implied by equity index options
w15234 Bennett T. McCallum
Causality, Structure, and the Uniqueness of Rational Expectations Equilibria
w15230 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Political Selection and Persistence of Bad Governments
w15227 Yosef Bonaparte
Russell Cooper

Costly Portfolio Adjustment
w15225 Craig Burnside
Alexandra Tabova

Risk, Volatility, and the Global Cross-Section of Growth Rates
w15223 Gary B. Gorton
Andrew Metrick

Securitized Banking and the Run on Repo
w15219 Long Chen
Lu Zhang

The stock market and aggregate employment
w15208 David H. Romer
A New Data Set on Monetary Policy: The Economic Forecasts of Individual Members of the FOMC
w15204 Anusha Chari
Peter Blair Henry
Diego Sasson

Capital Market Integration and Wages
w15199 J. Vernon Henderson
Adam Storeygard
David N. Weil

Measuring Economic Growth from Outer Space
w15194 Mark Aguiar
Manuel Amador

Growth in the Shadow of Expropriation
w15193 Cristina Arellano
Yan Bai
Jing Zhang

Firm Dynamics and Financial Development
w15192 Gian Luca Clementi
Thomas F. Cooley
Sonia Di Giannatale

A Theory of Firm Decline
w15187 Yuriy Gorodnichenko
Serena Ng

Estimation of DSGE Models When the Data are Persistent
w15182 Miles S. Kimball
Colter M. Mitchell
Arland D. Thornton
Linda C. Young-Demarco

Empirics on the Origins of Preferences: The Case of College Major and Religiosity
w15176 Russell Cooper
Hubert Kempf
Dan Peled

Insulation Impossible: Fiscal Spillovers in a Monetary Union
w15170 John Geanakoplos
Stephen P. Zeldes

Market Valuation of Accrued Social Security Benefits
w15167 Philippe Aghion
Drew Fudenberg
Richard T. Holden

Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem
w15166 Mark Bils
Yongsung Chang
Sun-Bin Kim

Heterogeneity and Cyclical Unemployment
w15165 John B. Donaldson
Natalia Gershun
Marc P. Giannoni

Some Unpleasant General Equilibrium Implications of Executive Incentive Compensation Contracts
w15160 Eric M. Leeper
Michael Plante
Nora Traum

Dynamics of Fiscal Financing in the United States
w15159 Manuel Adelino
Kristopher Gerardi
Paul S. Willen

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization
w15158 Nuno Cassola
Ali Hortacsu
Jakub Kastl

The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds
w15087 Orazio Attanasio
Katja Kaufmann

Educational Choices, Subjective Expectations, and Credit Constraints
w15155 Daron Acemoglu
Melissa Dell

Productivity Differences Between and Within Countries
w15153 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Government Investment and Fiscal Stimulus in the Short and Long Runs
w15138 Emmanuel Farhi
Jean Tirole

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts
w15133 Troy Davig
Eric M. Leeper

Monetary-Fiscal Policy Interactions and Fiscal Stimulus
w15129 Nicholas Bloom
Raffaella Sadun
John Van Reenen

The organization of firms across countries
w15119 Philippe Aghion
David Hemous
Enisse Kharroubi

Credit Constraints, Cyclical Fiscal Policy and Industry Growth
w15117 Michael W. L. Elsby
Matthew D. Shapiro

Stepping Off the Wage Escalator: The Effects of Wage Growth on Equilibrium Employment
w15113 James Feyrer
Jay C. Shambaugh

Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks
w15111 Roozbeh Hosseini
Larry E. Jones
Ali Shourideh

Risk Sharing, Inequality and Fertility
w15110 Paul Beaudry
Amartya Lahiri

Risk Allocation, Debt Fueled Expansion and Financial Crisis
w15094 Charles I. Jones
Paul M. Romer

The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital
w15080 Yuriy Gorodnichenko
Klara Sabirianova Peter
Dmitriy Stolyarov

Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income
w15075 Charles Calomiris
Stanley D. Longhofer
William Miles

The (Mythical?) Housing Wealth Effect
w15072 Harald Uhlig
A Model of a Systemic Bank Run
w15068 Frank R. Lichtenberg
The Quality of Medical Care, Behavioral Risk Factors, and Longevity Growth
w15066 Eric A. Hanushek
Ludger Woessmann

Schooling, Cognitive Skills, and the Latin American Growth Puzzle
w15065 William A. Brock
Steven N. Durlauf

Adoption Curves and Social Interactions
w15063 Christopher Foote
Kristopher Gerardi
Lorenz Goette
Paul Willen

Reducing Foreclosures: No Easy Answers
w15050 Matthias Doepke
Fabrizio Zilibotti

Do International Labor Standards Contribute to the Persistence of the Child Labor Problem?
w15062 Emmanuel Farhi
Samuel Paul Fraiberger
Xavier Gabaix
Romain Ranciere
Adrien Verdelhan

Crash Risk in Currency Markets
w15059 Nicola Fuchs-Schündeln
Dirk Krueger
Mathias Sommer

Inequality Trends for Germany in the Last Two Decades: A Tale of Two Countries
w15052 Robert B. Barsky
The Japanese Bubble: A 'Heterogeneous' Approach
w15049 Robert B. Barsky
Eric R. Sims

Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence
w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
w15034 Sebnem Kalemli-Ozcan
Elias Papaioannou
José-Luis Peydró

What Lies Beneath the Euro's Effect on Financial Integration: Currency Risk, Legal Harmonization, or Trade?
w15033 Dale T. Mortensen
Wage Dispersion in the Search and Matching Model with Intra-Firm Bargaining
w15030 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage and Unemployment
w15029 Diego A. Comin
Mark Gertler
Ana Maria Santacreu

Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations
w15026 Dario Caldara
Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez
Wen Yao

Computing DSGE Models with Recursive Preferences
w15025 Roger Farmer
Carine Nourry
Alain Venditti

Debt, Deficits and Finite Horizons: The Stochastic Case
w15021 Roger E. A. Farmer
Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative
w15015 Olivier J. Blanchard
Jean-Paul L'Huillier
Guido Lorenzoni

News, Noise, and Fluctuations: An Empirical Exploration
w15011 Bulent Guler
Fatih Guvenen
Giovanni L. Violante

Joint-Search Theory: New Opportunities and New Frictions
w15010 Andrew B. Abel
Janice C. Eberly
Stavros Panageas

Optimal Inattention to the Stock Market with Information Costs and Transactions Costs
w15003 George-Marios Angeletos
Jennifer La'O

Incomplete Information, Higher-Order Beliefs and Price Inertia
w15002 James D. Hamilton
Causes and Consequences of the Oil Shock of 2007-08
w14997 Ricardo J. Caballero
Alp Simsek

Complexity and Financial Panics
w14996 Harald Uhlig
Monetary policy in Europe vs the US: what explains the difference?
w14982 George-Marios Angeletos
Jennifer La'O

Noisy Business Cycles
w14969 Betsey Stevenson
Justin Wolfers

The Paradox of Declining Female Happiness
w14960 Boyan Jovanovic
Peter L. Rousseau

Extensive and Intensive Investment over the Business Cycle
w14950 Paul Beaudry
Bernd Lucke

Letting Different Views about Business Cycles Compete
w14943 Andrei Shleifer
Robert W. Vishny

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

Estimating the Border Effect: Some New Evidence
w14935 Marcela Eslava
John C. Haltiwanger
Adriana D. Kugler
Maurice Kugler

Trade Reforms and Market Selection: Evidence from Manufacturing Plants in Colombia
w14933 Julio J. Rotemberg
Altruistic Dynamic Pricing with Customer Regret
w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization
w14925 Douglas W. Diamond
Raghuram G. Rajan

Fear of Fire Sales and the Credit Freeze
w14923 Chang-Tai Hsieh
Edward Miguel
Daniel Ortega
Francisco Rodriguez

The Price of Political Opposition: Evidence from Venezuela's Maisanta
w14919 Troy Davig
Eric M. Leeper

Reply to "Generalizing the Taylor Principle: A Comment"
w14915 Veronica Guerrieri
Robert Shimer
Randall Wright

Adverse Selection in Competitive Search Equilibrium
w14914 Francisco J. Buera
Joseph Kaboski
Yongseok Shin

Finance and Development: A Tale of Two Sectors
w14910 James Feyrer
Trade and Income -- Exploiting Time Series in Geography
w14905 Guido Menzio
Shouyong Shi

Efficient Search on the Job and the Business Cycle
w14902 Stefan Laséen
Lars E.O. Svensson

Anticipated Alternative Instrument-Rate Paths in Policy Simulations
w14901 Hamish Low
Costas Meghir
Luigi Pistaferri

Wage Risk and Employment Risk over the Life Cycle
w14898 Veronica Guerrieri
Péter Kondor

Fund Managers, Career Concerns, and Asset Price Volatility
w14887 Sebnem Kalemli-Ozcan
Elias Papaioannou
José Luis Peydró

Financial Regulation, Financial Globalization and the Synchronization of Economic Activity
w14883 Andrew Atkeson
V. V. Chari
Patrick Kehoe

Sophisticated Monetary Policies
w14882 Hyungsik Roger Moon
Frank Schorfheide

Bayesian and Frequentist Inference in Partially Identified Models
w14875 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez
Martín Uribe

Risk Matters: The Real Effects of Volatility Shocks
w14874 Yuriy Gorodnichenko
Enrique G. Mendoza
Linda L. Tesar

The Finnish Great Depression: From Russia with Love
w14873 Stefania Albanesi
Claudia Olivetti

Gender Roles and Medical Progress
w14872 Frank Schorfheide
Keith Sill
Maxym Kryshko

DSGE Model-Based Forecasting of Non-modelled Variables
w14870 S. Boragan Aruoba
Frank Schorfheide

Sticky Prices Versus Monetary Frictions: An Estimation of Policy Trade-offs
w14862 Marvin Goodfriend
Robert G. King

The Great Inflation Drift
w14850 Kaivan Munshi
Mark Rosenzweig

Why is Mobility in India so Low? Social Insurance, Inequality, and Growth
w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk
w14846 Roger E.A. Farmer
Confidence, Crashes and Animal Spirits
w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
w14833 Francesc Ortega
Giovanni Peri

The Causes and Effects of International Migrations: Evidence from OECD Countries 1980-2005
w14824 Pierpaolo Benigno
New-Keynesian Economics: An AS-AD View
w14822 Francisco J. Buera
Joseph P. Kaboski

The Rise of the Service Economy
w14819 Fiona Murray
Philippe Aghion
Mathias Dewatripont
Julian Kolev
Scott Stern

Of Mice and Academics: Examining the Effect of Openness on Innovation
w14818 Laurence M. Ball
Hysteresis in Unemployment: Old and New Evidence
w14816 Maurice Obstfeld
Time of Troubles: The Yen and Japan's Economy, 1985-2008
w14805 Katharine G. Abraham
John C. Haltiwanger
Kristin Sandusky
James Spletzer

Exploring Differences in Employment between Household and Establishment Data
w14787 Mark Bils
Peter J. Klenow
Benjamin A. Malin

Reset Price Inflation and the Impact of Monetary Policy Shocks
w14782 John F. Cogan
Tobias Cwik
John B. Taylor
Volker Wieland

New Keynesian versus Old Keynesian Government Spending Multipliers
w14772 Lars Ljungqvist
Harald Uhlig

Optimal Endowment Destruction under Campbell-Cochrane Habit Formation
w14770 Jess Benhabib
A Note on Regime Switching, Monetary Policy, and Multiple Equilibria
w14768 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Quantitative Macroeconomics with Heterogeneous Households
w14764 Roland Bénabou
Groupthink: Collective Delusions in Organizations and Markets
w14760 Robert J. Barro
José F. Ursúa

Stock-Market Crashes and Depressions
w14754 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Risk Preferences in the PSID: Individual Imputations and Family Covariation
w14753 Matthew D. Shapiro
Joel B. Slemrod

Did the 2008 Tax Rebates Stimulate Spending?
w14744 Daron Acemoglu
Amy Finkelstein
Matthew J. Notowidigdo

Income and Health Spending: Evidence from Oil Price Shocks
w14743 Joseph G. Altonji
Anthony Smith
Ivan Vidangos

Modeling Earnings Dynamics
w14740 Giuseppe Moscarini
Fabien Postel-Vinay

Large Employers Are More Cyclically Sensitive
w14732 Ricardo Reis
A Sticky-Information General-Equilibrium Model for Policy Analysis
w14730 Jess Benhabib
Alberto Bisin

The distribution of wealth and fiscal policy in economies with finitely lived agents
w14729 Casey Mulligan
What Caused the Recession of 2008? Hints from Labor Productivity
w14710 Roger E.A. Farmer
Tao Zha
Daniel F. Waggoner

Understanding Markov-Switching Rational Expectations Models
w14691 Maurice Obstfeld
International Finance and Growth in Developing Countries: What Have We Learned?
w14697 Nir Jaimovich
Seth Pruitt
Henry E. Siu

The Demand for Youth: Implications for the Hours Volatility Puzzle
w14690 Angus S. Deaton
Instruments of development: Randomization in the tropics, and the search for the elusive keys to economic development
w14688 Ricardo J. Caballero
Arvind Krishnamurthy

Global Imbalances and Financial Fragility
w14684 Martin S. Feldstein
Rethinking the Role of Fiscal Policy
w14680 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

Temperature and Income: Reconciling New Cross-Sectional and Panel Estimates
w14678 Frederic S. Mishkin
Is Monetary Policy Effective During Financial Crises?
w14677 Jesús Fernández-Villaverde
The Econometrics of DSGE Models
w14676 Michael Burda
Daniel S. Hamermesh

Unemployment, Market Work and Household Production
w14674 Jaap H. Abbring
Jeffrey R. Campbell

Last-In First-Out Oligopoly Dynamics
w14669 Monika Piazzesi
Martin Schneider

Momentum traders in the housing market: survey evidence and a search model
w14665 Jonathan A. Parker
Annette Vissing-Jorgensen

Who Bears Aggregate Fluctuations and How?
w14663 Michael G. Palumbo
Jonathan A. Parker

The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?
w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation
w14630 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight and Information Flows
w15611 Stefano Battiston
Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Joseph E. Stiglitz

Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk
w14644 Thomas Philippon
Ariell Reshef

Wages and Human Capital in the U.S. Financial Industry: 1909-2006
w14639 Charles Yuji Horioka
Do Bequests Increase or Decrease Wealth Inequalities?
w14638 William D. Nordhaus
The Perils of the Learning Model For Modeling Endogenous Technological Change
w14636 Indrit Hoxha
Sebnem Kalemli-Ozcan
Dietrich Vollrath

How Big are the Gains from International Financial Integration?
w14633 Eric A. Hanushek
Ludger Woessmann

Do Better Schools Lead to More Growth? Cognitive Skills, Economic Outcomes, and Causation
w14631 John B. Taylor
The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong
2008
w14629 Bernard Dumas
Andrew Lyasoff

Incomplete-Market Equilibria Solved Recursively on an Event Tree
w14621 Olivier Coibion
Yuriy Gorodnichenko

Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation
w14620 Michael Woodford
Information-Constrained State-Dependent Pricing
w14617 Michael Elsby
Bart Hobijn
Aysegul Sahin

Unemployment Dynamics in the OECD
w14612 Markus K. Brunnermeier
Deciphering the Liquidity and Credit Crunch 2007-08
w14605 Andrew Caplin
John Leahy

Trading Frictions and House Price Dynamics
w14604 Peter Blair Henry
Conrad Miller

Institutions vs. Policies: A Tale of Two Islands
w14595 Francisco J. Buera
Alexander Monge-Naranjo
Giorgio E. Primiceri

Learning the Wealth of Nations
w14586 Olivier Coibion
Yuriy Gorodnichenko

What Can Survey Forecasts Tell Us About Informational Rigidities?
w14584 Tommaso Monacelli
Roberto Perotti

Fiscal Policy, Wealth Effects, and Markups
w14581 Robert E. Hall
Equity Depletion from Government-Guaranteed Debt
w14563 Alan S. Blinder
Jeremy B. Rudd

The Supply-Shock Explanation of the Great Stagflation Revisited
w14560 Robert J. Gordon
Did Economics Cause World War II?
w14558 M. Ayhan Kose
Eswar S. Prasad
Marco E. Terrones

Does Openness to International Financial Flows Raise Productivity Growth?
w14554 Gene M. Grossman
Esteban Rossi-Hansberg

Task Trade between Similar Countries
w14553 Harald Uhlig
The Slow Decline of East Germany
w14551 Andrew Mountford
Harald Uhlig

What are the Effects of Fiscal Policy Shocks?
w14547 Alejandro Justiniano
Bruce Preston

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?
w14534 Bennett T. McCallum
Inflation Determination with Taylor Rules: Is New Keynesian Analysis Critically Flawed?
w14529 Domenico Giannone
Michele Lenza
Lucrezia Reichlin

Business Cycles in the Euro Area
w14521 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Financial Crash, Commodity Prices and Global Imbalances
w14520 Rafael La Porta
Andrei Shleifer

The Unofficial Economy and Economic Development
w14514 Casey B. Mulligan
A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance
w14510 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model
w14509 Diego A. Comin
An Exploration of the Japanese Slowdown during the 1990s
w14499 Angus Deaton
Alan Heston

Understanding PPPs and PPP-based national accounts
w14480 Harold L. Cole
Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims
w14473 Markus K. Brunnermeier
Stefan Nagel
Lasse H. Pedersen

Carry Trades and Currency Crashes
w14463 Jens H.E. Christensen
Francis X. Diebold
Glenn D. Rudebusch

An Arbitrage-Free Generalized Nelson-Siegel Term Structure Model
w14452 Chris Edmond
Laura Veldkamp

Income Dispersion and Counter-Cyclical Markups
w14449 Quamrul H. Ashraf
Ashley Lester
David N. Weil

When Does Improving Health Raise GDP?
w14448 Louis Putterman
David N. Weil

Post-1500 Population Flows and the Long Run Determinants of Economic Growth and Inequality
w14446 Casey Mulligan
Luke Threinen

Market Responses to the Panic of 2008
w14437 Caroline M. Betts
Timothy J. Kehoe

Real Exchange Rate Movements and the Relative Price of Non-traded Goods
w14430 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?
w14425 Gene M. Grossman
Esteban Rossi-Hansberg

External Economies and International Trade Redux
w14403 Raj Chetty
Emmanuel Saez

Optimal Taxation and Social Insurance with Endogenous Private Insurance
w14402 Christopher L. House
Fixed Costs and Long-Lived Investments
w14401 Takeo Hoshi
Anil K. Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan
w14400 Richard Rogerson
Market Work, Home Work and Taxes: A Cross Country Analysis
w14399 Raj Chetty
Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods
w14398 Gary B. Gorton
The Subprime Panic
w14395 Timothy J. Kehoe
Kim J. Ruhl

Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate
w14392 Patrick J. Kehoe
Virgiliu Midrigan

Temporary Price Changes and the Real Effects of Monetary Policy
w14391 Stefano Eusepi
Bruce Preston

Stabilizing Expectations under Monetary and Fiscal Policy Coordination
w14389 Andrew T. Foerster
Pierre-Daniel G. Sarte
Mark W. Watson

Sectoral vs. Aggregate Shocks: A Structural Factor Analysis of Industrial Production
w14386 Jessica Wachter
Can Time-Varying Risk of Rare Disasters Explain Aggregate Stock Market Volatility?
w14383 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monopoly Power and Endogenous Product Variety: Distortions and Remedies
w14362 Marc D. Weidenmier
Joseph H. Davis
Roger Aliaga-Diaz

Is Sugar Sweeter at the Pump? The Macroeconomic Impact of Brazil's Alternative Energy Program
w14292 M. Ayhan Kose
Christopher Otrok
Eswar S. Prasad

Global Business Cycles: Convergence or Decoupling?
w14369 Esteban Rossi-Hansberg
Pierre-Daniel Sarte
Raymond Owens III

Housing Externalities
w14363 William Easterly
Can the West Save Africa?
w14358 Gary B. Gorton
The Panic of 2007
w14357 William A. Brock
Steven N. Durlauf
Giacomo Rondina

Design Limits and Dynamic Policy Analysis
w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Costly Financial Intermediation in Neoclassical Growth Theory
w14349 S. Boragan Aruoba
Francis X. Diebold
Chiara Scotti

Real-Time Measurement of Business Conditions
w14345 Mohammad Arzaghi
Ernst R. Berndt
James C. Davis
Alvin J. Silk

Economic Factors Underlying the Unbundling of Advertising Agency Services
w14342 Dongmei Li
Lu Zhang

Costly External Finance: Implications for Capital Markets Anomalies
w14335 Kaivan Munshi
Mark Rosenzweig

The Efficacy of Parochial Politics: Caste, Commitment, and Competence in Indian Local Governments
w14329 Robert E. Hall
Alan B. Krueger

Wage Formation between Newly Hired Workers and Employers: Survey Evidence
w14323 Olivier Coibion
Yuriy Gorodnichenko

Strategic Interaction Among Heterogeneous Price-Setters In An Estimated DSGE Model
w14322 James H. Stock
Mark W. Watson

Phillips Curve Inflation Forecasts
w14313 V.V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

New Keynesian Models: Not Yet Useful for Policy Analysis
w14300 Steven J. Davis
R. Jason Faberman
John Haltiwanger
Ron Jarmin
Javier Miranda

Business Volatility, Job Destruction, and Unemployment
w14299 Xavier Gabaix
Power Laws in Economics and Finance
w14294 Charles W. Calomiris
Stanley D. Longhofer
William Miles

The Foreclosure-House Price Nexus: Lessons from the 2007-2008 Housing Turmoil
w14282 Betsey Stevenson
Justin Wolfers

Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
w14269 Francis X. Diebold
Kamil Yilmaz

Macroeconomic Volatility and Stock Market Volatility, Worldwide
w14266 Larry E. Jones
Alice Schoonbroodt
Michèle Tertilt

Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?
w14264 Antoni Estevadeordal
Alan M. Taylor

Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s
w14262 Pol Antràs
Esteban Rossi-Hansberg

Organizations and Trade
w14260 Andrew Atkeson
Patrick J. Kehoe

On the Need for a New Approach to Analyzing Monetary Policy
w14259 Olivier J. Blanchard
The State of Macro
w14255 Manuel Amador
Pierre-Olivier Weill

Learning from Prices: Public Communication and Welfare
w14248 Chinhui Juhn
Sebnem Kalemli-Ozcan
Belgi Turan

HIV and Fertility in Africa: First Evidence from Population Based Surveys
w14243 Lars Peter Hansen
Modeling the Long Run: Valuation in Dynamic Stochastic Economies
w14239 Daron Acemoglu
Georgy Egorov
Konstantin Sonin

Dynamics and Stability of Constitutions, Coalitions, and Clubs
w14228 Markus K. Brunnermeier
Filippos Papakonstantinou
Jonathan A. Parker

An Economic Model of the Planning Fallacy
w14223 James D. Hamilton
Daily Monetary Policy Shocks and the Delayed Response of New Home Sales
w14222 Julio J. Rotemberg
Liquidity Needs in Economies with Interconnected Financial Obligations
w14221 Edward E. Leamer
What's a Recession, Anyway?
w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship
w14215 Stephanie Schmitt-Grohe
Martin Uribe

What's News in Business Cycles
w14208 Miles S. Kimball
Matthew D. Shapiro

Labor Supply: Are the Income and Substitution Effects Both Large or Both Small?
w14200 Gita Gopinath
Oleg Itskhoki

Frequency of Price Adjustment and Pass-through
w14190 Jean Boivin
Marc P. Giannoni
Benoît Mojon

How Has the Euro Changed the Monetary Transmission?
w14184 Yuriy Gorodnichenko
Endogenous information, menu costs and inflation persistence
w14181 Stefano Eusepi
Bruce Preston

Expectations, Learning and Business Cycle Fluctuations
w14171 Jordi Gali
Luca Gambetti

On the Sources of the Great Moderation
w14164 Bennett T. McCallum
Determinacy, Learnability, and Plausibility in Monetary Policy Analysis: Additional Results
w14163 Bennett T. McCallum
Reconsideration of the P-Bar Model of Gradual Price Adjustment
w14151 James D. Hamilton
Macroeconomics and ARCH
w14138 Benjamin F. Jones
The Knowledge Trap: Human Capital and Development Reconsidered
w14137 Steven J. Davis
R. Jason Faberman
John C. Haltiwanger
Ian Rucker

Adjusted Estimates of Worker Flows and Job Openings in JOLTS
w14135 Fernando E. Alvarez
Francisco J. Buera
Robert E. Lucas
Jr.

Models of Idea Flows
w14133 Robert E. Lucas
Jr.

Ideas and Growth
w14132 Melissa Dell
Benjamin F. Jones
Benjamin A. Olken

Climate Change and Economic Growth: Evidence from the Last Half Century
w14130 David Y. Albouy
The Colonial Origins of Comparative Development: An Investigation of the Settler Mortality Data
w14128 Jess Benhabib
Shenghao Zhu

Age, Luck, and Inheritance
w14122 Elhanan Helpman
Oleg Itskhoki
Stephen Redding

Wages, Unemployment and Inequality with Heterogeneous Firms and Workers
w14114 Bruce Sacerdote
James Feyrer

Will the Stork Return to Europe and Japan? Understanding Fertility Within Developed Nations
w14112 Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Alberto Russo
Joseph E. Stiglitz

Financially Constrained Fluctuations in an Evolving Network Economy
w14097 Alessandra Fogli
Laura Veldkamp

Nature or Nurture? Learning and the Geography of Female Labor Force Participation
w14093 Ryan D. Edwards
The Cost of Uncertain Life Span
w14092 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Optimal Monetary Policy in an Operational Medium-Sized DSGE Model
w14063 Nir Jaimovich
Henry E. Siu

The Young, the Old, and the Restless: Demographics and Business Cycle Volatility
w14060 Laura Alfaro
Andrew Charlton
Fabio Kanczuk

Plant-Size Distribution and Cross-Country Income Differences
w14054 A. Craig Burnside
Martin S. Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

Do Peso Problems Explain the Returns to the Carry Trade?
w14052 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

The Macroeconomic Implications of Rising Wage Inequality in the United States
w14050 Dani Rodrik
Second-Best Institutions
w14048 Steven J. Davis
James A. Kahn

Interpreting the Great Moderation: Changes in the Volatility of Economic Activity at the Macro and Micro Levels
w14047 Marco Battaglini
Stephen Coate

Fiscal Policy over the Real Business Cycle: A Positive Theory
w14028 Eric M. Leeper
Todd B. Walker
Shu-Chun Susan Yang

Fiscal Foresight: Analytics and Econometrics
w14019 Michael D. Bordo
Michael J. Dueker
David C. Wheelock

Inflation, Monetary Policy and Stock Market Conditions
w14018 W. Erwin Diewert
Saeed Heravi
Mick Silver

Hedonic Imputation versus Time Dummy Hedonic Indexes
w14015 George-Marios Angeletos
Private Sunspots and Idiosyncratic Investor Sentiment
w14009 Frank R. Lichtenberg
Gautier Duflos

Pharmaceutical innovation and the longevity of Australians: a first look
w14001 Emi Nakamura
Jón Steinsson

Monetary Non-Neutrality in a Multi-Sector Menu Cost Model
w14000 Boyan Jovanovic
When Should Firms Invest in Old Capital?
w13990 Aurora Gómez Galvarriato
Jeffrey G. Williamson

Was It Prices, Productivity or Policy? The Timing and Pace of Latin American Industrialization after 1870
w13986 Pierpaolo Benigno
Luca Antonio Ricci

The Inflation-Unemployment Trade-Off at Low Inflation
w13985 Valerie A. Ramey
Time Spent in Home Production in the 20th Century: New Estimates from Old Data
w13983 Ellen R. McGrattan
Edward C. Prescott

Technology Capital and the U.S. Current Account
w13982 Robert J. Gordon
Ian Dew-Becker

Controversies about the Rise of American Inequality: A Survey
w13979 John Geanakoplos
Stephen P. Zeldes

Reforming Social Security with Progressive Personal Accounts
w13970 Frederic S. Mishkin
Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?
w13889 Frederic S. Mishkin
Exchange Rate Pass-Through And Monetary Policy
w13940 Robert J. Barro
José F. Ursúa

Macroeconomic Crises since 1870
w13968 Edward Miguel
Sebastián M. Saiegh
Shanker Satyanath

National Cultures and Soccer Violence
w13967 Raj Chetty
Moral Hazard vs. Liquidity and Optimal Unemployment Insurance
w13955 Emmanuel Farhi
Jean Tirole

Competing Liquidities: Corporate Securities, Real Bonds and Bubbles
w13953 Martin S. Feldstein
Did Wages Reflect Growth in Productivity?
w13950 Robert W. Dimand
Barbara J. Spencer

Trevor Swan And The Neoclassical Growth Model
w13948 Frederic S. Mishkin
Globalization, Macroeconomic Performance, and Monetary Policy
w13943 John B. Taylor
John C. Williams

A Black Swan in the Money Market
w13931 Orazio Attanasio
Adriana Kugler
Costas Meghir

Training Disadvantaged Youth in Latin America: Evidence from a Randomized Trial
w13924 Aleksander Berentsen
Guido Menzio
Randall Wright

Inflation and Unemployment in the Long Run
w13920 John Haltiwanger
Stefano Scarpetta
Helena Schweiger

Assessing Job Flows Across Countries: The Role of Industry, Firm Size and Regulations
w13919 Matthias Doepke
Michèle Tertilt

Women's Liberation: What's in It for Men?
w13915 Daron Acemoglu
Davide Ticchi
Andrea Vindigni

A Theory of Military Dictatorships
w13912 Lance J. Lochner
Alexander Monge-Naranjo

The Nature of Credit Constraints and Human Capital
w13911 Francesco Giavazzi
Michael McMahon

Policy Uncertainty and Precautionary Savings
w13907 Roland Bénabou
Ideology
w13906 Andrea Ferrero
Mark Gertler
Lars E.O. Svensson

Current Account Dynamics and Monetary Policy
w13904 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Acquisition and Under-Diversification
w13897 Olivier Blanchard
Jordi Gali

Labor Markets and Monetary Policy: A New-Keynesian Model with Unemployment
w13896 Hanno Lustig
Stijn Van Nieuwerburgh
Adrien Verdelhan

The Wealth-Consumption Ratio
w13894 Noah Williams
Persistent Private Information
w13893 Mark Aguiar
Erik Hurst

Deconstructing Lifecycle Expenditure
w13892 Lars E.O. Svensson
Noah Williams

Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach
w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity
w13876 Christopher D. Carroll
Jiri Slacalek
Martin Sommer

International Evidence on Sticky Consumption Growth
w13872 Richard Rogerson
Lodewijk P. Visschers
Randall Wright

Labor Market Fluctuations in the Small and in the Large
w13871 Per Krusell
Toshihiko Mukoyama
Richard Rogerson
Aysegul Sahin

Aggregate Implications of Indivisible Labor, Incomplete Markets, and Labor Market Frictions
w13870 Trevon D. Logan
Are Engel Curve Estimates of CPI Bias Biased?
w13867 Melissa Bjelland
Bruce Fallick
John Haltiwanger
Erika McEntarfer

Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data
w13866 Janice Eberly
Sergio Rebelo
Nicolas Vincent

Investment and Value: A Neoclassical Benchmark
w13854 Yacine Aït-Sahalia
Michael W. Brandt

Consumption and Portfolio Choice with Option-Implied State Prices
w13840 Ian Dew-Becker
Robert J. Gordon

The Role of Labor Market Changes in the Slowdown of European Productivity Growth
w13837 Mark Aguiar
Erik Hurst

The Increase in Leisure Inequality
w13834 Charles I. Jones
Intermediate Goods, Weak Links, and Superstars: A Theory of Economic Development
w13829 Martin Eichenbaum
Nir Jaimovich
Sergio Rebelo

Reference Prices and Nominal Rigidities
w13819 Giuseppe Moscarini
Francis G. Vella

Occupational Mobility and the Business Cycle
w13814 Charles Engel
Jian Wang

International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
w13805 Emmanuel Farhi
Xavier Gabaix

Rare Disasters and Exchange Rates
w13794 Cristina Arellano
Narayana R. Kocherlakota

Internal Debt Crises and Sovereign Defaults
w13789 Erik Hurst
The Retirement of a Consumption Puzzle
w13779 Ricardo J. Caballero
Pierre Yared

Inflating the Beast: Political Incentives Under Uncertainty
w13777 Michael W. L. Elsby
Ryan Michaels

Marginal Jobs, Heterogeneous Firms, & Unemployment Flows
w13772 Fernando Alvarez
Robert Shimer

Search and Rest Unemployment
w13769 J. Vernon Henderson
Anthony Venables

The Dynamics of City Formation
w13761 Carmen M. Reinhart
Kenneth S. Rogoff

Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison
w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship
w13755 Julio J. Rotemberg
Minimally Altruistic Wages and Unemployment in a Matching Model
w13751 Christina D. Romer
David H. Romer

The FOMC versus the Staff: Where Can Monetary Policymakers Add Value?
w13749 Timothy Cogley
Giorgio E. Primiceri
Thomas J. Sargent

Inflation-Gap Persistence in the U.S.
w13741 Marco Del Negro
Frank Schorfheide

Forming Priors for DSGE Models (and How it Affects the Assessment of Nominal Rigidities)
w13736 Jean Boivin
Marc Giannoni

Global Forces and Monetary Policy Effectiveness
w13731 Ariel Burstein
Christopher Kurz
Linda Tesar

Trade, Production Sharing, and the International Transmission of Business Cycles
w13724 Xavier Gabaix
Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance
w13720 Emmanuel Farhi
Iván Werning

Optimal Savings Distortions with Recursive Preferences
2007
w13710 Edward L. Glaeser
Giacomo A.M. Ponzetto

Did the Death of Distance Hurt Detroit and Help New York?
w13707 Matthias Doepke
Moshe Hazan
Yishay Maoz

The Baby Boom and World War II: A Macroeconomic Analysis
w13705 Luis Garicano
Esteban Rossi-Hansberg

Organizing Growth
w13704 Edward L. Glaeser
Joseph Gyourko

Arbitrage in Housing Markets
w13696 Edward L. Glaeser
The Economics Approach to Cities
w13694 Sumit Agarwal
Chunlin Liu
Nicholas S. Souleles

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data
w13693 Todd Sinai
Nicholas S. Souleles

Net Worth and Housing Equity in Retirement
w13692 Todd C. Neumann
Price V. Fishback
Shawn Kantor

The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal
w13690 Robert J. Barro
Rare Disasters, Asset Prices, and Welfare Costs
w13689 Robert J. Barro
Jason Hwang

Religious Conversion in 40 Countries
w13685 John B. Taylor
The Explanatory Power of Monetary Policy Rules
w13682 John B. Taylor
Housing and Monetary Policy
w13680 Larry E. Jones
Alice Schoonbroodt

Complements versus Substitutes and Trends in Fertility Choice in Dynastic Models
w13673 Jonathan Heathcote
Kjetil Storesletten
Giovanni L. Violante

Insurance and Opportunities: A Welfare Analysis of Labor Market Risk
w13666 Yuriy Gorodnichenko
Using Firm Optimization to Evaluate and Estimate Returns to Scale
w13662 Andres Rodriguez-Clare
Trade, Diffusion and the Gains from Openness
w13655 V. V. Chari
Patrick J. Kehoe

The Heterogeneous State of Modern Macroeconomics: A Reply to Solow
w13650 Dirk Krueger
Hanno Lustig
Fabrizio Perri

Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data
w13646 Florin Bilbiie
Fabio Ghironi
Marc J. Melitz

Endogenous Entry, Product Variety, and Business Cycles
w13639 Guido Lorenzoni
Inefficient Credit Booms
w13629 Stefania Albanesi
Roc Armenter

Intertemporal Distortions in the Second best
w13619 Eswar S. Prasad
Raghuram G. Rajan
Arvind Subramanian

Foreign Capital and Economic Growth
w13615 Ricardo Reis
Mark W. Watson

Relative Goods' Prices, Pure Inflation, and the Phillips Correlation
w13614 Dora Gicheva
Justine Hastings
Sofia Villas-Boas

Revisiting the Income Effect: Gasoline Prices and Grocery Purchases
w13611 Jens H. E. Christensen
Francis X. Diebold
Glenn D. Rudebusch

The Affine Arbitrage-Free Class of: Nelson-Siegel Term Structure Models
w13674 Andreas Hornstein
Per Krusell
Giovanni L. Violante

Frictional Wage Dispersion in Search Models: A Quantitative Assessment
w13603 Gary D. Hansen
Selo Imrohoroglu

Business Cycle Fluctuations and the Life Cycle: How Important is On-The-Job Skill Accumulation?
w13592 Jeremy Greenwood
Karen A. Kopecky

Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach
w13591 Juan Carlos Conesa
Timothy J. Kehoe
Kim J. Ruhl

Modeling Great Depressions: The Depression in Finland in the 1990s
w13590 George-Marios Angeletos
Alessandro Pavan

Policy with Dispersed Information
w13588 Francis X. Diebold
Canlin Li
Vivian Z. Yue

Global Yield Curve Dynamics and Interactions: A Dynamic Nelson-Siegel Approach
w13555 YiLi Chien
Harold Cole
Hanno Lustig

A Multiplier Approach to Understanding the Macro Implications of Household Finance
w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk
w13580 Marvin Goodfriend
How the World Achieved Consensus on Monetary Policy
w13560 Thomas Philippon
Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?
w13556 Argia M. Sbordone
Globalization and Inflation Dynamics: the Impact of Increased Competition
w13553 Robert J. Shiller
Understanding Recent Trends in House Prices and Home Ownership
w13550 Branko Milanovic
Peter H. Lindert
Jeffrey G. Williamson

Measuring Ancient Inequality
w13548 Christina D. Romer
David H. Romer

Do Tax Cuts Starve the Beast: The Effect of Tax Changes on Government Spending
w13545 Joana Naritomi
Rodrigo R. Soares
Juliano J. Assunção

Rent Seeking and the Unveiling of 'De Facto' Institutions: Development and Colonial Heritage within Brazil
w13542 Jordi Galí
Mark Gertler

Macroeconomic Modeling for Monetary Policy Evaluation
w13532 Peter N. Ireland
Scott Schuh

Productivity and U.S. Macroeconomic Performance: Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model
w13526 Flavio Cunha
James J. Heckman

The Evolution of Inequality, Heterogeneity and Uncertainty in Labor Earnings in the U.S. Economy
w13521 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Shocks, Structures or Monetary Policies? The Euro Area and US After 2001
w13518 Frederic S. Mishkin
Housing and the Monetary Transmission Mechanism
w13517 Benjamin Malin
Dirk Krueger
Felix Kubler

Computing Stochastic Dynamic Economic Models with a Large Number of State Variables: A Description and Application of a Smolyak-Collocation Method
w13515 Ellen McGrattan
Edward C. Prescott

Openness, Technology Capital, and Development
w13506 David G. Blanchflower
Chris Shadforth

Fear, Unemployment and Migration
w13505 David G. Blanchflower
Is Unemployment More Costly Than Inflation?
w13502 Lawrence Christiano
Roberto Motto
Massimo Rostagno

Two Reasons Why Money and Credit May be Useful in Monetary Policy
w13500 Paul Beaudry
Patrick Francois

The Economics of Inefficient Technology Use
w13499 Ellen R. McGrattan
Edward C. Prescott

Unmeasured Investment and the Puzzling U.S. Boom in the 1990s
w13487 Sumit Agarwal
John C. Driscoll
David Laibson

Optimal Mortgage Refinancing: A Closed Form Solution
w13483 Jonathan Heathcote
Fabrizio Perri

The International Diversification Puzzle Is Not As Bad As You Think
w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction
w13471 Martin S. Feldstein
Housing, Credit Markets and the Business Cycle
w13455 Ariel Burstein
Christian Hellwig

Prices and Market Shares in a Menu Cost Model
w13448 Andrew Ang
Sen Dong
Monika Piazzesi

No-Arbitrage Taylor Rules
w13444 Nir Jaimovich
Sergio Rebelo

News and Business Cycles in Open Economies
w13437 Thomas Philippon
Ariell Reshef

Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector
w13432 Gita Gopinath
Oleg Itskhoki
Roberto Rigobon

Currency Choice and Exchange Rate Pass-through
w13430 Xavier Gabaix
Linearity-Generating Processes: A Modelling Tool Yielding Closed Forms for Asset Prices
w13428 Edward E. Leamer
Housing IS the Business Cycle
w13425 Hess Chung
Eric M. Leeper

What Has Financed Government Debt?
w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.
w13421 Robert Shimer
Reassessing the Ins and Outs of Unemployment
w13416 Fernando E. Alvarez
Francesco Lippi

Financial Innovation and the Transactions Demand for Cash
w13414 Lars E.O. Svensson
Noah M. Williams

Bayesian and Adaptive Optimal Policy under Model Uncertainty
w13412 Enrique G. Mendoza
Vincenzo Quadrini
José-Victor Ríos-Rull

On the Welfare Implications of Financial Globalization without Financial Development
w13410 John H. Cochrane
Determinacy and Identification with Taylor Rules
w13409 John H. Cochrane
Determinacy and Identification with Taylor Rules
w13406 Roger E. A. Farmer
Aggregate Demand and Supply
w13404 Andreas Beyer
Roger E. A. Farmer
Jérôme Henry
Massimiliano Marcellino

Factor Analysis in a Model with Rational Expectations
w13398 Andrew Atkeson
V. V. Chari
Patrick J. Kehoe

On the Optimal Choice of a Monetary Policy Instrument
w13397 Jon Faust
Jonathan H. Wright

Comparing Greenbook and Reduced Form Forecasts using a Large Realtime Dataset
w13394 Fatih Guvenen
An Empirical Investigation of Labor Income Processes
w13392 Kerwin Kofi Charles
Erik Hurst
Nikolai Roussanov

Conspicuous Consumption and Race
w13391 Alan S. Blinder
John Morgan

Leadership in Groups: A Monetary Policy Experiment
w13390 Emmanuel Farhi
Capital Taxation and Ownership when Markets are Incomplete
w13385 Nicholas Bloom
The Impact of Uncertainty Shocks
w13373 Raquel Fernandez
Culture as Learning: The Evolution of Female Labor Force Participation over a Century
w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium
w13368 Olivier J. Blanchard
Jordi Gali

The Macroeconomic Effects of Oil Shocks: Why are the 2000s So Different from the 1970s?
w13366 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Immobility and the Home Bias Puzzle
w13363 Igor Livshits
James MacGee
Michèle Tertilt

Accounting for the Rise in Consumer Bankruptcies
w13362 Borys Grochulski
Narayana Kocherlakota

Nonseparable Preferences and Optimal Social Security Systems
w13361 Ralph S.J. Koijen
Otto Van Hemert
Stijn Van Nieuwerburgh

Mortgage Timing
w13357 A. Craig Burnside
Empirical Asset Pricing and Statistical Power in the Presence of Weak Risk Factors
w13354 Andrew B. Abel
Optimal Capital Income Taxation
w13353 Mark Aguiar
Manuel Amador
Gita Gopinath

Investment Cycles and Sovereign Debt Overhang
w13352 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment
w13337 Miles S. Kimball
Claudia R. Sahm
Matthew D. Shapiro

Imputing Risk Tolerance from Survey Responses
w13334 Daron Acemoglu
Simon Johnson
James A. Robinson
Pierre Yared

Reevaluating the Modernization Hypothesis
w13328 Morten O. Ravn
Stephanie Schmitt-Grohé
Martín Uribe

Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
w13326 Andrew Atkeson
Ariel Burstein

Innovation, firm dynamics, and international trade
w13325 Michael Woodford
How Important is Money in the Conduct of Monetary Policy?
w13319 David de la Croix
Matthias Doepke

To Segregate or to Integrate: Education Politics and Democracy
w13317 Angus Deaton
Income, Aging, Health and Wellbeing Around the World: Evidence from the Gallup World Poll
w13315 Simon Gilchrist
Jae W. Sim

Investment during the Korean Financial Crisis: A Structural Econometric Analysis
w13314 David Laibson
Andrea Repetto
Jeremy Tobacman

Estimating Discount Functions with Consumption Choices over the Lifecycle
w13310 Tai-wei Hu
John Kennan
Neil Wallace

Coalition-Proof Trade and the Friedman Rule in the Lagos-Wright Model
w13307 Boyan Jovanovic
Investment Options and the Business Cycle
w13302 Klaus Desmet
Esteban Rossi-Hansberg

Spatial Growth and Industry Age
w13299 Thorsten Beck
Ross Levine
Alexey Levkov

Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution
w13290 Chang-Tai Hsieh
Peter J. Klenow

Misallocation and Manufacturing TFP in China and India
w13287 Dale T. Mortensen
Island Matching
w13286 Robert E. Lucas
Jr.

Trade and the Diffusion of the Industrial Revolution
w13282 Long Chen
Lu Zhang

Neoclassical Factors
w13278 Craig Burnside
Martin S. Eichenbaum
Sergio Rebelo

Understanding the Forward Premium Puzzle: A Microstructure Approach
w13269 Jeffrey I. Bernstein
Theofanis P. Mamuneas

Irreversible Investment, Capital Costs and Productivity Growth: Implications for Telecommunications
w13264 Christina D. Romer
David H. Romer

The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
w13260 Bruce Preston
Mauro Roca

Incomplete Markets, Heterogeneity and Macroeconomic Dynamics
w13259 Stefano Eusepi
Bruce Preston

Central Bank Communication and Expectations Stabilization
w13254 Fabio Braggion
Lawrence J. Christiano
Jorge Roldos

Optimal Monetary Policy in a 'Sudden Stop'
w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing
w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets
w13241 Pol Antràs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective
w13231 Mark Bils
Yongsung Chang
Sun-Bin Kim

Comparative Advantage in Cyclical Unemployment
w13226 Steven J. Davis
John Haltiwanger
Ron S. Jarmin
C. J. Krizan
Javier Miranda
Alfred Nucci
Kristin Sandusky

Measuring the Dynamics of Young and Small Businesses: Integrating the Employer and Nonemployer Universes
w13224 Mark Huggett
Gustavo Ventura
Amir Yaron

Sources of Lifetime Inequality
w13221 David E. Bloom
David Canning
Günther Fink
Jocelyn E. Finlay

Does Age Structure Forecast Economic Growth?
w13209 Kiminori Matsuyama
Aggregate Implications of Credit Market Imperfections
w13207 Marvin Goodfriend
Bennett T. McCallum

Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration
w13204 Veronica Guerrieri
Guido Lorenzoni

Liquidity and Trading Dynamics
w13200 Marco Bassetto
Vadym Lepetyuk

Government Investment and the European Stability and Growth Pact
w13199 Florin O. Bilbiie
Fabio Ghironi
Marc J. Melitz

Monetary Policy and Business Cycles with Endogenous Entry and Product Variety
w13198 Satyajit Chatterjee
Esteban Rossi-Hansberg

Spin-offs and the Market for Ideas
w13196 Ravi Bansal
Long-Run Risks and Financial Markets
w13191 Sumit Agarwal
John C. Driscoll
Xavier Gabaix
David Laibson

The Age of Reason: Financial Decisions Over the Lifecycle
w13184 Robert W. Fogel
Capitalism and Democracy in 2040: Forecasts and Speculations
w13180 Philippe Aghion
Alberto Alesina
Francesco Trebbi

Democracy, Technology, and Growth
w13179 Stefania Albanesi
Claudia Olivetti

Gender Roles and Technological Progress
w13174 Simon Gilchrist
Egon Zakrajsek

Investment and the Cost of Capital: New Evidence from the Corporate Bond Market
w13171 Randall Morck
Masao Nakamura

Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth
w13166 Jesús Fernández-Villaverde
Juan F. Rubio-Ramírez

How Structural Are Structural Parameters?
w13162 Lena Edlund
Wojciech Kopczuk

Women, Wealth and Mobility
w13157 Francois Gourio
Anil K. Kashyap

Investment Spikes: New Facts and a General Equilibrium Exploration
w13150 Torsten Persson
Guido Tabellini

The Growth Effect of Democracy: Is It Heterogenous and How Can It Be Estimated?
w13147 Frederic S. Mishkin
Inflation Dynamics
w13143 Roberto Perotti
In Search of the Transmission Mechanism of Fiscal Policy
w13136 George-Marios Angeletos
Vasia Panousi

Revisiting the Supply-Side Effects of Government Spending Under Incomplete Markets
w13134 Kenneth D. West
Ka-fu Wong
Stanislav Anatolyev

Instrumental Variables Estimation of Heteroskedastic Linear Models Using All Lags of Instruments
w13115 Russell Cooper
John Haltiwanger
Jonathan L. Willis

Implications of Search Frictions: Matching Aggregate and Establishment-level Observations
w13111 Timothy J. Kehoe
Kim J. Ruhl

Are Shocks to the Terms of Trade Shocks to Productivity?
w13108 Ravi Bansal
Robert Dittmar
Dana Kiku

Cointegration and Consumption Risks in Asset Returns
w13105 John Ameriks
Andrew Caplin
Steven Laufer
Stijn Van Nieuwerburgh

The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Bequest and Precautionary Motives
w13104 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Financing Development: The Role of Information Costs
w13102 Benjamin F. Jones
Benjamin A. Olken

Hit or Miss? The Effect of Assassinations on Institutions and War
w13099 Marco Del Negro
Frank Schorfheide

Monetary Policy Analysis with Potentially Misspecified Models
w13096 Fatih Guvenen
Burhanettin Kuruscu

Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis
w13095 Fatih Guvenen
Burhanettin Kuruscu

A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000
w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q
w13086 Ram C. Acharya
Wolfgang Keller

Technology Transfer through Imports
w13085 Nicholas Bloom
Raffaella Sadun
John Van Reenen

Americans Do I.T. Better: US Multinationals and the Productivity Miracle
w13084 Joshua Aizenman
Mark Spiegel

Takeoffs
w13077 Ricardo J. Caballero
Guido Lorenzoni

Persistent Appreciations and Overshooting: A Normative Analysis
w13076 Fernando A. Broner
Guido Lorenzoni
Sergio L. Schmukler

Why Do Emerging Economies Borrow Short Term?
w13073 Ariel Burstein
Alexander Monge-Naranjo

Foreign Know-How, Firm Control, and the Income of Developing Countries
w13067 William Adams
Liran Einav
Jonathan Levin

Liquidity Constraints and Imperfect Information in Subprime Lending
w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital
w13055 Joan R. Rosés
Kevin H. O'Rourke
Jeffrey G. Williamson

Globalization, Growth and Distribution in Spain 1500-1913
w13043 John M. Abowd
John Haltiwanger
Julia Lane
Kevin L. McKinney
Kristin Sandusky

Technology and the Demand for Skill:An Analysis of Within and Between Firm Differences
w13041 Christian Broda
David E. Weinstein

Product Creation and Destruction: Evidence and Price Implications
w13030 Bjoern Bruegemann
Giuseppe Moscarini

Rent Rigidity, Asymmetric Information, and Volatility Bounds in Labor Markets
w13024 Laura X. L. Liu
Toni Whited
Lu Zhang

Regularities
w13018 Diego Restuccia
Richard Rogerson

Policy Distortions and Aggregate Productivity with Heterogeneous Plants
w13017 Richard Rogerson
Johanna Wallenius

Micro and Macro Elasticities in a Life Cycle Model With Taxes
w13007 Lei Fang
Richard Rogerson

Policy Analysis in a Matching Model with Intensive and Extensive Margins
w13000 Michael Burda
Daniel S. Hamermesh
Philippe Weil

Total Work, Gender and Social Norms
w12999 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth
t0336 John A. List
Haiwen Zhou

Internal Increasing Returns to Scale and Economic Growth
w12994 Orazio Attanasio
Nicola Pavoni

Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption
w12986 Joao F. Gomes
Leonid Kogan
Motohiro Yogo

Durability of Output and Expected Stock Returns
w12965 Roger E.A. Farmer
Daniel F. Waggoner
Tao Zha

Understanding the New-Keynesian Model when Monetary Policy Switches Regimes
w12961 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Incomplete Cost Pass-Through Under Deep Habits
w12959 Emmanuel Farhi
Mikhail Golosov
Aleh Tsyvinski

A Theory of Liquidity and Regulation of Financial Intermediation
w12957 Monika Piazzesi
Martin Schneider

Inflation Illusion, Credit, and Asset Pricing
w12948 Lars Peter Hansen
Beliefs, Doubts and Learning: Valuing Economic Risk
w12945 Ricardo J. Caballero
Eduardo M.R.A. Engel

Price Stickiness in Ss Models: New Interpretations of Old Results
w12940 Markus K. Brunnermeier
Christian Gollier
Jonathan A. Parker

Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns
w12925 Olivier Blanchard
Current Account Deficits in Rich Countries
w12917 Matthias Doepke
Fabrizio Zilibotti

Occupational Choice and the Spirit of Capitalism
w12916 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

The Returns to Currency Speculation in Emerging Markets
w12911 Abhijit Banerjee
Lakshmi Iyer
Rohini Somanathan

Public Action for Public Goods
w12909 Enrique G. Mendoza
Vincenzo Quadrini
Jose-Victor Rios-Rull

Financial Integration, Financial Deepness and Global Imbalances
w12898 Guido Lorenzoni
News Shocks and Optimal Monetary Policy
w12896 Ricardo J. Caballero
Arvind Krishnamurthy

Collective Risk Management in a Flight to Quality Episode
w12891 Lei Fang
Richard Rogerson

Product Market Regulation and Market Work: A Benchmark Analysis
w12890 Richard Rogerson
Taxation and Market Work: Is Scandinavia an Outlier?
w12889 Richard Rogerson
Structural Transformation and the Deterioration of European Labor Market Outcomes
w12888 Raquel Fernandez
Women, Work, and Culture
w12886 Diego Comin
Bart Hobijn

Implementing Technology
w12881 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Demand for Treasury Debt
w12880 Juan Carlos Conesa
Sagiri Kitao
Dirk Krueger

Taxing Capital? Not a Bad Idea After All!
w12876 Frederic S. Mishkin
Klaus Schmidt-Hebbel

Does Inflation Targeting Make a Difference?
w12861 Andrew Atkeson
Ariel Burstein

Pricing-to-Market in a Ricardian Model of International Trade
w12854 Elizabeth M. Caucutt
Thomas F. Cooley
Nezih Guner

The Farm, the City, and the Emergence of Social Security
w12853 Michael W. Elsby
Ryan Michaels
Gary Solon

The Ins and Outs of Cyclical Unemployment
w12845 Aubhik Khan
Julia Thomas

Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics
w12841 Nicholas Bloom
Uncertainty and the Dynamics of R&D
w12833 Francesco Caselli
Nicola Gennaioli

Economics and Politics of Alternative Institutional Reforms
w12832 Eric A. Hanushek
Ludger Woessmann

The Role of School Improvement in Economic Development
w12824 Jean Boivin
Marc Giannoni
Ilian Mihov

Sticky Prices and Monetary Policy: Evidence from Disaggregated U.S. Data
w12822 Carlo Favero
Francesco Giavazzi

Debt and the Effects of Fiscal Policy
2006
w12810 Markus K. Brunnermeier
Christian Julliard

Money Illusion and Housing Frenzies
w12809 Markus K. Brunnermeier
Stefan Nagel

Do Wealth Fluctuations Generate Time-varying Risk Aversion? Micro-Evidence on Individuals' Asset Allocation
w12806 Romain Ranciere
Aaron Tornell
Frank Westermann

Decomposing the Effects of Financial Liberalization: Crises vs. Growth
w12804 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Price and Capacity Competition
w12801 Joseph Cullen
Price V. Fishback

Did Big Government's Largesse Help the Locals? The Implications of WWII Spending for Local Economic Activity, 1939-1958
w12797 Laurent E. Calvet
Adlai J. Fisher

Multifrequency Jump-Diffusions: An Equilibrium Approach
w12791 Fernando Alvarez
Marcelo Veracierto

Fixed-Term Employment Contracts in an Equilibrium Search Model
w12772 Jean Boivin
Marc Giannoni

DSGE Models in a Data-Rich Environment
t0332 Jean Boivin
Marc Giannoni

DSGE Models in a Data-Rich Environment
w12786 Lee Ohanian
Andrea Raffo
Richard Rogerson

Long-Term Changes in Labor Supply and Taxes: Evidence from OECD Countries, 1956-2004
w12778 George-Marios Angeletos
Alessandro Pavan

Socially Optimal Coordination: Characterization and Policy Implications
w12775 Daron Acemoglu
Ufuk Akcigit

State-Dependent Intellectual Property Rights Policy
w12769 Michele Boldrin
David K. Levine

Growth and Intellectual Property
w12768 Steven J. Davis
Magnus Henrekson

Economic Performance and Work Activity in Sweden after the Crisis of the Early 1990s
w12763 Robert J. Barro
On the Welfare Costs of Consumption Uncertainty
w12755 Chong-En Bai
Chang-Tai Hsieh
Yingyi Qian

The Return to Capital in China
w12753 Ricardo J. Caballero
On the Macroeconomics of Asset Shortages
w12751 Erik Snowberg
Justin Wolfers
Eric Zitzewitz

Party Influence in Congress and the Economy
w12748 Daron Acemoglu
Davide Ticchi
Andrea Vindigni

Emergence and Persistence of Inefficient States
w12746 Christopher D. Carroll
Misuzu Otsuka
Jirka Slacalek

How Large Is the Housing Wealth Effect? A New Approach
w12741 William D. Nordhaus
The "Stern Review" on the Economics of Climate Change
w12740 Stephanie Schmitt-Grohe
Martin Uribe

Comparing Two Variants of Calvo-Type Wage Stickiness
w12735 Angus Deaton
Global Patterns of Income and Health: Facts, Interpretations, and Policies
w12731 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Pricing to Habits and the Law of One Price
w12723 Charles Yuji Horioka
Junmin Wan

The Determinants of Household Saving in China: A Dynamic Panel Analysis of Provincial Data
w12721 Gene M. Grossman
Esteban Rossi-Hansberg

Trading Tasks: A Simple Theory of Offshoring
w12710 Paul Beaudry
Fabrice Collard
Franck Portier

Gold Rush Fever in Business Cycles
w12708 Alessandra Fogli
Fabrizio Perri

The "Great Moderation" and the US External Imbalance
w12698 Peter Blair Henry
Capital Account Liberalization: Theory, Evidence, and Speculation
w12687 Laurence M. Ball
Has Globalization Changed Inflation?
w12677 Diego A. Comin
Bart Hobijn
Emilie Rovito

World Technology Usage Lags
w12672 Pierpaolo Benigno
Michael Woodford

Linear-Quadratic Approximation of Optimal Policy Problems
w12671 Ulrich Mueller
Mark W. Watson

Testing Models of Low-Frequency Variability
w12666 Hugh Rockoff
On the Origins of "A Monetary History"
w12665 Matthias Doepke
Dirk Krueger

Origins and Consequences of Child Labor Restrictions: A Macroeconomic Perspective
w12657 Diego Comin
William Easterly
Erick Gong

Was the Wealth of Nations Determined in 1000 B.C.?
w12656 Timothy J. Kehoe
David K. Levine

Bankruptcy and Collateral in Debt Constrained Markets
w12652 Eliot A. Jamison
Dean T. Jamison
Eric A. Hanushek

The Effects of Education Quality on Income Growth and Mortality Decline
w12648 Daron Acemoglu
Victor Chernozhukov
Muhamet Yildiz

Learning and Disagreement in an Uncertain World
w12647 Lawrence J. Christiano
Joshua M. Davis

Two Flaws In Business Cycle Accounting
w12639 David Card
Raj Chetty
Andrea Weber

Cash-on-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market
w12637 Dale F. Gray
Robert C. Merton
Zvi Bodie

A New Framework for Analyzing and Managing Macrofinancial Risks of an Economy
w12634 Dirk Krueger
Hanno Lustig

When is Market Incompleteness Irrelevant for the Price of Aggregate Risk (and when is it not)?
w12629 Javier García-Cicco
Roberto Pancrazi
Martín Uribe

Real Business Cycles in Emerging Countries?
w12621 David E. Bloom
David Canning
Rick Mansfield
Michael Moore

Demographic Change, Social Security Systems, and Savings
w12618 Robert Shimer
Ivan Werning

Reservation Wages and Unemployment Insurance
w12614 Christian Hellwig
Guido Lorenzoni

Bubbles and Self-Enforcing Debt
w12611 Michael W. Elsby
Evaluating the Economic Significance of Downward Nominal Wage Rigidity
w12610 Robert H. Bates
John H. Coatsworth
Jeffrey G. Williamson

Lost Decades: Lessons from Post-Independence Latin America for Today's Africa
w12609 Monika Piazzesi
Martin Schneider

Equilibrium Yield Curves
w12606 Thomas Sargent
Noah Williams
Tao Zha

The Conquest of South American Inflation
w12605 N. Gregory Mankiw
Ricardo Reis

Sticky Information in General Equilibrium
w12601 Edward L. Glaeser
Bryce A. Ward

The Causes and Consequences of Land Use Regulation: Evidence from Greater Boston
w12600 Emmanuel Farhi
Ivan Werning

Progressive Estate Taxation
w12584 Roger E. A. Farmer
Andrew Hollenhorst

Shooting the Auctioneer
w12581 Alberto Alesina
Joseph Zeira

Technology and Labor Regulations
w12575 Patrick J. Kehoe
How to Advance Theory with Structural VARs: Use the Sims-Cogley-Nason Approach
w12570 Nir Jaimovich
Sergio Rebelo

Behavioral Theories of the Business Cycle
w12569 David Joulfaian
Inheritance and Saving
w12567 Claustre Bajona
Timothy J. Kehoe

Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model
w12566 Claustre Bajona
Timothy J. Kehoe

Demographics in Dynamic Heckscher-Ohlin Models: Overlapping Generations Versus Infinitely Lived Consumers
w12565 Dani Rodrik
Understanding South Africa's Economic Puzzles
w12564 Enrique G. Mendoza
Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints:A Fisherian Deflation of Tobin's Q
w12557 Laura Veldkamp
Justin Wolfers

Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement
w12555 Dmitry Livdan
Horacio Sapriza
Lu Zhang

Financially Constrained Stock Returns
w12549 Jeffrey G. Williamson
Poverty Traps, Distance, and Diversity: The Migration Connection
w12546 James Feyrer
Bruce Sacerdote

Colonialism and Modern Income -- Islands as Natural Experiments
w12540 Roger E. A. Farmer
Daniel F. Waggoner
Tao Zha

Indeterminacy in a Forward Looking Regime Switching Model
w12539 Frank R. Lichtenberg
Importation and Innovation
w12538 Stijn Van Nieuwerburgh
Pierre-Olivier Weill

Why Has House Price Dispersion Gone Up?
w12537 Nir Jaimovich
Sergio Rebelo

Can News About the Future Drive the Business Cycle?
w12526 E. Han Kim
Adair Morse
Luigi Zingales

What Has Mattered to Economics Since 1970
w12521 Paul Beaudry
Mark Doms
Ethan Lewis

Endogenous Skill Bias in Technology Adoption: City-Level Evidence from the IT Revolution
w12520 Boyan Jovanovic
Chung-Yi Tse

Creative Destruction in Industries
w12515 Frederic S. Mishkin
Monetary Policy Strategy: How Did We Get Here?
w12514 Christopher House
Matthew D. Shapiro

Temporary Investment Tax Incentives: Theory with Evidence from Bonus Depreciation
w12498 Mark Gertler
Antonella Trigari

Unemployment Fluctuations With Staggered Nash Wage Bargaining
w12489 Craig Burnside
Martin Eichenbaum
Isaac Kleshchelski
Sergio Rebelo

The Returns to Currency Speculation
w12486 Laarni Bulan
Christopher J. Mayer
C. Tsuriel Somerville

Irreversible Investment, Real Options, and Competition: Evidence from Real Estate Development
w12477 Guido Lorenzoni
A Theory of Demand Shocks
w12476 Patrick Kehoe
Varadarajan V. Chari

Modern Macroeconomics in Practice: How Theory is Shaping Policy
w12475 Daron Acemoglu
Veronica Guerrieri

Capital Deepening and Non-Balanced Economic Growth
w12474 Ramon Marimon
Vincenzo Quadrini

Competition, Innovation and Growth with Limited Commitment
w12467 Raj Chetty
Adam Szeidl

Consumption Commitments and Risk Preferences
w12462 Thomas Philippon
The Bond Market's q
w12456 Orazio Attanasio
Margherita Borella

Stochastic Components of Individual Consumption: A Time Series Analysis of Grouped Data
w12453 Dirk Krueger
Alexander Ludwig

On the Consequences of Demographic Change for Rates of Returns to Capital, and the Distribution of Wealth and Welfare
w12441 Bennett T. McCallum
E-Stability vis-a-vis Determinacy Results for a Broad Class of Linear Rational Expectations Models
w12435 Fredrik Andersson
Matthew Freedman
John C. Haltiwanger
Julia Lane
Kathryn L. Shaw

Reaching for the Stars: Who Pays for Talent in Innovative Industries?
w12434 Rajnish Mehra
The Equity Premium in India
w12433 Rajnish Mehra
Recursive Competitive Equilibrium
t0326 Kenneth D. West
Todd Clark

Approximately Normal Tests for Equal Predictive Accuracy in Nested Models
w12421 Morten O. Ravn
The Consumption-Tightness Puzzle
w12419 Stefania Albanesi
Optimal Taxation of Entrepreneurial Capital with Private Information
w12415 Julio J. Rotemberg
Cyclical Wages in a Search-and-Bargaining Model with Large Firms
w12412 Orazio P. Attanasio
Monica Paiella

Intertemporal Consumption Choices, Transaction Costs and Limited Participation to Financial Markets: Reconciling Data and Theory
w12405 Troy Davig
Eric M. Leeper

Endogenous Monetary Policy Regime Change
w12402 Stephanie Schmitt-Grohé
Martín Uribe

Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version
w12400 Alisdair McKay
Ricardo Reis

The Brevity and Violence of Contractions and Expansions
w12398 N. Gregory Mankiw
Phillip Swagel

The Politics and Economics of Offshore Outsourcing
w12395 Takatoshi Ito
Kiyotaka Sato

Exchange Rate Changes and Inflation in Post-Crisis Asian Economies: VAR Analysis of the Exchange Rate Pass-Through
w12394 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Economic Growth: Is What's Good for General Motors Good for America?
w12388 Kerwin Kofi Charles
Melvin Stephens
Jr.

The Level and Composition of Consumption Over the Business Cycle: The Role of "Quasi-Fixed" Expenditures
w12384 Frederic S. Mishkin
Niklas J. Westelius

Inflation Band Targeting and Optimal Inflation Contracts
w12383 Nick Bloom
John Van Reenen
Stephen Bond

Uncertainty and Investment Dynamics
w12365 Xavier Gabaix
Augustin Landier

Why Has CEO Pay Increased So Much?
w12362 John Y. Campbell
Jens Hilscher
Jan Szilagyi

In Search of Distress Risk
w12354 Steven J. Davis
John Haltiwanger
Ron Jarmin
Javier Miranda

Volatility and Dispersion in Business Growth Rates: Publicly Traded versus Privately Held Firms
w12353 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

Assessing Structural VARs
w12351 Charles Yuji Horioka
The Dissaving of the Aged Revisited: The Case of Japan
w12349 N. Gregory Mankiw
The Macroeconomist as Scientist and Engineer
w12341 Gary D. Hansen
Selahattin Imrohoroglu

Consumption Over the Life Cycle: The Role of Annuities
w12336 Ruediger Bachmann
Ricardo J. Caballero
Eduardo M.R.A. Engel

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
w12331 Janna L. Matlack
Jacob L. Vigdor

Do Rising Tides Lift All Prices? Income Inequality and Housing Affordability
w12330 Miki Kohara
Charles Yuji Horioka

Do Borrowing Constraints Matter? An Analysis of Why the Permanent Income Hypothesis Does Not Apply in Japan
w12324 James H. Stock
Mark W. Watson

Why Has U.S. Inflation Become Harder to Forecast?
w12319 Matthias Doepke
Martin Schneider

Inflation as a Redistribution Shock: Effects on Aggregates and Welfare
w12314 Diego Comin
Bart Hobiijn

An Exploration of Technology Diffusion
w12311 Robert J. Gordon
The Boskin Commission Report: A Retrospective One Decade Later
w12309 Paul Willen
Felix Kubler

Collateralized Borrowing and Life-Cycle Portfolio Choice
w12308 Urban Jermann
Vincenzo Quadrini

Financial Innovations and Macroeconomic Volatility
w12290 Andrew B. Abel
Equity Premia with Benchmark Levels of Consumption: Closed-Form Results
w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption
w12275 Philippe Aghion
Diego Comin
Peter Howitt

When Does Domestic Saving Matter for Economic Growth?
w12269 Daron Acemoglu
Simon Johnson

Disease and Development: The Effect of Life Expectancy on Economic Growth
w12268 Yuriy Gorodnichenko
Matthew D. Shapiro

Monetary Policy When Potential Output is Uncertain: Understanding the Growth Gamble of the 1990s
w12264 Valerie A. Ramey
Neville Francis

A Century of Work and Leisure
w12260 Martín Uribe
Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome
w12243 Giorgio E. Primiceri
Ernst Schaumburg
Andrea Tambalotti

Intertemporal Disturbances
w12231 Chad Syverson
Prices, Spatial Competition, and Heterogenous Producers: An Empirical Test
w12230 Robert Shimer
Iván Werning

On the Optimal Timing of Benefits with Heterogeneous Workers and Human Capital Depreciation
w12224 Daron Acemoglu
Michael Golosov
Aleh Tsyvinski

Markets Versus Governments: Political Economy of Mechanisms
w12218 William D. Nordhaus
Baumol's Diseases: A Macroeconomic Perspective
w12212 Stefania Albanesi
Claudia Olivetti

Home Production, Market Production and the Gender Wage Gap: Incentives and Expectations
w12206 Daron Acemoglu
Philippe Aghion
Claire Lelarge
John Van Reenen
Fabrizio Zilibotti

Technology, Information and the Decentralization of the Firm
w12200 Justin Wolfers
Eric Zitzewitz

Interpreting Prediction Market Prices as Probabilities
w12190 Allan Drazen
Marcela Eslava

Pork Barrel Cycles
w12181 Sebnem Kalemli-Ozcan
AIDS, "Reversal" of the Demographic Transition and Economic Development: Evidence from Africa
w12117 Philippe Aghion
Philippe Bacchetta
Romain Ranciere
Kenneth Rogoff

Exchange Rate Volatility and Productivity Growth: The Role of Financial Development
w12168 Martin Feldstein
The 2006 Economic Report of the President: Comment on Chapter One (The Year in Review) and Chapter Six (The Capital Account Surplus)
w12153 Enrico Spolaore
Romain Wacziarg

The Diffusion of Development
w12149 John Y. Campbell
Household Finance
w12142 Charles Yuji Horioka
The Causes of Japan's "Lost Decade": The Role of Household Consumption
w12136 Ricardo J. Caballero
Arvind Krishnamurthy

Flight to Quality and Collective Risk Management
w12130 Ellen R. McGrattan
Lee E. Ohanian

Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II
w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan
w12167 Steven J. Davis
R. Jason Faberman
John Haltiwanger

The Flow Approach to Labor Markets: New Data Sources and Micro-Macro Links
w12166 Gadi Barlevy
H.N. Nagaraja

Identification of Search Models with Initial Condition Problems
w12158 Pierpaolo Benigno
Michael Woodford

Optimal Inflation Targeting under Alternative Fiscal Regimes
w12128 Edward Glaeser
Giacomo Ponzetto
Andrei Shleifer

Why Does Democracy Need Education?
w12125 Francesco Caselli
Wilbur John Coleman II

On the Theory of Ethnic Conflict
w12122 Robert W. Fogel
Why China is Likely to Achieve its Growth Objectives
w12118 Benjamin M. Friedman
The Greenspan Era: Discretion, Rather Than Rules
w12108 Daron Acemoglu
James A. Robinson

Persistence of Power, Elites and Institutions
w12104 Chang-Tai Hsieh
Jonathan A. Parker

Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom
w12103 Eric M. Leeper
Shu-Chun Susan Yang

Dynamic Scoring: Alternative Financing Schemes
w12093 Raghuram G. Rajan
Rent Preservation 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 and 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
w9993 Dirk Krueger
Fabrizio Perri

On the Welfare Consequences of the Increase in Inequality in the United States
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
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 David Berger
Ricardo J. Caballero
Eduardo Engel

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models
w9886 Edward L. Glaeser
Janet E. Kohlhase

Cities, Regions and the Decline of Transport Costs
w9867 Sebastian Edwards
Eduardo Levy Yeyati

Flexible Exchange Rates as Shock Absorbers
w9866 Christina D. Romer
David H. Romer

A New Measure of Monetary Shocks: Derivation and Implications
w9865 Elsa V. Artadi
Xavier Sala-i-Martin

The Economic Tragedy of the XXth Century: Growth in Africa
w9859 James H. Stock
Mark W. Watson

Understanding Changes in International Business Cycle Dynamics
w9848 Martin Lettau
Sydney Ludvigson

Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption
w9840 Laurent Calvet
Martin Gonzalez-Eiras
Paolo Sodini

Financial Innovation, Market Participation and Asset Prices
w9839 Laurent Calvet
Adlai Fisher

Regime-Switching and the Estimation of Multifractal Processes
w9838 Bennett T. McCallum
Monetary Policy in Economies with Little or No Money
w9837 Bennett T. McCallum
Multiple-Solution Indeterminacies in Monetary Policy Analysis
w9832 Robert Barsky
Christopher L. House
Miles Kimball

Do Flexible Durable Goods Prices Undermine Sticky Price Models?
w9822 Angus Deaton
Measuring Poverty in a Growing World (or Measuring Growth in a Poor World)
w9819 Lawrence J. Christiano
Martin Eichenbaum
Robert Vigfusson

What Happens After a Technology Shock?
w9814 Alan J. Auerbach
Maurice Obstfeld

The Case for Open-Market Purchases in a Liquidity Trap
w9809 Alberto Alesina
Alexander Wagner

Choosing (and reneging on) exchange rate regimes
w9804 Xavier Sala-i-Martin
Arvind Subramanian

Addressing the Natural Resource Curse: An Illustration from Nigeria
w9802 Daron Acemoglu
Michael Kremer
Atif Mian

Incentives in Markets, Firms and Governments
w9796 N. Gregory Mankiw
Ricardo Reis
Justin Wolfers

Disagreement about Inflation Expectations
w9794 Herschel I. Grossman
Distributional Disputes and Civil Conflict
w9793 Herschel I. Grossman
". . . and six hundred thousand men were dead."
w9786 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Government Finance in the Wake of Currency Crises
w9783 Patrick Bajari
C. Lanier Benkard
John Krainer

House Prices and Consumer Welfare
w9775 Rafael LaPorta
Florencio Lopez-de-Silane
Cristian Pop-Eleches
Andrei Shleifer

Judicial Checks and Balances
w9773 Jordi Gali
Roberto Perotti

Fiscal Policy and Monetary Integration in Europe
w9772 Craig Burnside
Martin Eichenbaum
Jonas Fisher

Fiscal Shocks and Their Consequences
w9778 Ricardo J. Caballero
Stavros Panageas

Hedging Sudden Stops and Precautionary Contractions
w9767 George-Marios Angeletos
Christian Hellwig
Alessandro Pavan

Coordination and Policy Traps
w9765 Gary S. Becker
Tomas J. Philipson
Rodrigo R. Soares

The Quantity and Quality of Life and the Evolution of World Inequality
w9764 George-Marios Angeletos
Laurent Calvet

Idiosyncratic Production Risk, Growth, and the Business Cycle
w9759 John Y. Campbell
Joao F. Cocco

Household Risk Management and Optimal Mortgage Choice
w9756 Simeon Djankov
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Juan Botero

The Regulation of Labor
w9747 Lars E. O. Svensson
Michael Woodford

Implementing Optimal Policy through Inflation-Forecast Targeting
w9741 Michael C. Davis
James D. Hamilton

Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices
w9712 Jaap H. Abbring
Jeffrey R. Campbell

A Structural Empirical Model of Firm Growth, Learning, and Survival
w9710 Donald Morgan
Philip Strahan

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries
w9704 Donald Morgan
Bertrand Rime
Philip Strahan

Bank Integration and State Business Cycles
w9701 Chang-Tai Hsieh
Peter J. Klenow

Relative Prices and Relative Prosperity
w9682 Robert J. Barro
Rachel McCleary

Religion and Economic Growth
w9672 Stephen G. Cecchetti
Junhan Kim

Inflation Targeting, Price-Path Targeting and Output Variability
w9667 Jiri Jonas
Frederic S. Mishkin

Inflation Targeting in Transition Countries: Experience and Prospects
w9658 V. V. Chari
Patrick J. Kehoe

Financial Crises as Herds: Overturning the Critiques
w9646 Kazuo Ogawa
Financial Distress and Employment: The Japanese Case in the 90s
w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan
w9643 Joe Peek
Eric S. Rosengren

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan
w9642 Yasushi Hamao
Jianping Mei
Yexiao Xu

Idiosyncratic Risk and the Creative Destruction in Japan
w9635 Herschel I. Grossman
"Fifty-four Forty or Fight!"
w9629 Christian Gollier
Richard Zeckhauser

Collective Investment Decision Making with Heterogeneous Time Preferences
w9619 Justin Wolfers
Is Business Cycle Volatility Costly? Evidence from Surveys of Subjective Wellbeing
w9618 Joshua Aizenman
Reuven Glick

Military Expenditure, Threats, and Growth
w9608 Simeon Djankov
Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

The New Comparative Economics
w9604 Rodolfo Manuelli
Ananth Seshadri

Frictionless Technology Diffusion: The Case of Tractors
w9599 Ricardo J. Caballero
Arvind Krishnamurthy

Inflation Targeting and Sudden Stops
w9587 Andrew Leigh
Justin Wolfers
Eric Zitzewitz

What Do Financial Markets Think of War in Iraq?
w9586 Michael Hurd
Susann Rohwedder

The Retirement-Consumption Puzzle: Anticipated and Actual Declines in Spending at Retirement
w9585 John Kennan
James R. Walker

The Effect of Expected Income on Individual Migration Decisions
w9582 Raymond Fisman
Inessa Love

Financial Dependence and Growth Revisited
w9581 Baruch Lev
Suresh Radhakrishnan

The Measurement of Firm-Specific Organization Capital
w9577 Laurence Ball
Niamh Sheridan

Does Inflation Targeting Matter?
w9583 Raymond Fisman
Inessa Love

Financial Development and the Composition of Industrial Growth
w9570 Ricardo J. Caballero
On the International Financial Architecture: Insuring Emerging Markets
w9566 Alexei Onatski
Noah Williams

Modeling Model Uncertainty
w9560 Alberto Alesina
Silvia Ardagna
Giuseppe Nicoletti
Fabio Schiantarelli

Regulation and Investment
w9558 Jess Behabib
Stephanie Schmitt-Grohe
Martin Uribe

Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing, and Macroeconomic Instability
w9552 Eric M. Leeper
Jennifer E. Roush

Putting 'M' back in Monetary Policy
w9547 John Y. Campbell
George Chacko
Jorge Rodriguez
Luis M. Viciera

Strategic Asset Allocation in a Continuous-Time VAR Model
w9538 Jonathan A. Parker
Christian Julliard

Consumption Risk and Cross-Sectional Returns
w9536 Robert Shimer
The Cyclical Behavior of Equilibrium Unemployment and Vacancies: Evidence and Theory
w9526 W. Erwin Diewert
Measuring Capital
w9506 Eric M. Leeper
Fiscal Policy and Inflation: Pondering the Imponderables
w9502 Alberto Alesina
George-Marios Angeletos

Fairness and Redistribution: U.S. versus Europe
w9491 Laurence Ball
N. Gregory Mankiw
Ricardo Reis

Monetary Policy for Inattentive Economies
w9490 Jeffrey D. Sachs
Institutions Don't Rule: Direct Effects of Geography on Per Capita Income
w9486 Lars E. O. Svensson
Monetary Policy and Real Stabilization
w9462 Todd Sinai
Nicholas S. Souleles

Owner-Occupied Housing as a Hedge Against Rent Risk
w9444 Albert Ando
Dimitrios Christelis
Tsutomu Miyagawa

Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan
w9442 Francesco Caselli
Nicola Gennaioli

Dynastic Management
w9437 Robert J. Gordon
Hi-tech Innovation and Productivity Growth: Does Supply Create Its Own Demand?
w9435 Silvana Tenreyro
Robert J. Barro

Economic Effects of Currency Unions
w9421 Lars E. O. Svensson
What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules
w9420 Marc P. Giannoni
Michael Woodford

Optimal Interest-Rate Rules: II. Applications
w9419 Marc P. Giannoni
Michael Woodford

Optimal Interest-Rate Rules: I. General Theory
w9411 Alberto Alesina
Arnaud Devleeschauwer
William Easterly
Sergio Kurlat
Romain Wacziarg

Fractionalization
w9410 Dirk Krueger
Felix Kubler

Pareto Improving Social Security Reform when Financial Markets are Incomplete?
w9408 Dirk Krueger
Krishna B. Kumar

Skill-specific rather then General Education: A Reason for US-Europe Growth Differences?
2002
w9402 Aubhik Khan
Robert G. King
Alexander L. Wolman

Optimal Monetary Policy
w9391 Pierre-Olivier Gourinchas
Aaron Tornell

Exchange Rate Dynamics, Learning and Misperception
w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects
w9385 Takero Doi
Takeo Hoshi

Paying for the FILP
w9384 Anil K. Kashyap
Sorting Out Japan's Financial Crisis
w9382 Jesus Fernandez-Villaverde
Dirk Krueger

Consumption over the Life Cycle: Facts from Consumer Expenditure Survey Data
w9381 Ricardo J. Caballero
Mohamad L. Hammour

Speculative Growth
w9378 Daron Acemoglu
Simon Johnson
James Robinson

The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth
w9377 Daron Acemoglu
Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics
w9375 N. Gregory Mankiw
Ricardo Reis

What Measure of Inflation Should a Central Bank Target?
w9374 Casey B. Mulligan
Capital Tax Incidence: First Impressions from the Time Series
w9373 Casey B. Mulligan
Capital, Interest, and Aggregate Intertemporal Substitution
w9370 V. V. Chari
Patrick J. Kehoe

Time Consistency and Free-Riding in a Monetary Union
w9367 Robert Dekle
The Deteriorating Fiscal Situation and an Aging Population
w9366 Mark Hugget
Gustavo Ventura
Amir Yaron

Human Capital and Earnings Distribution Dynamics
w9364 Joao Gomes
Amir Yaron
Lu Zhang

Asset Prices and Business Cycles with Costly External Finance
w9361 William D. Nordhaus
The Economic Consequences of a War in Iraq
w9356 Melvin Stephens Jr.
Paycheck Receipt and the Timing of Consumption
hosh02-1 Takeo Hoshi
Toshihiro Ihori and Sadao Nagaoka
editors

Issues in Fiscal Adjustment (NBER-CEPR-TCER conference)
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
higu01-1 Yoshi Higuchi
Takeo Hoshi and Sadao Nagaoka
editors

Unemployment (NBER-CEPR-TCER conference)
w8606 Karl E. Case
Robert J. Shiller
John M. Quigley

Comparing Wealth Effects: The Stock Market Versus the Housing Market
w8604 Richard Clarida
Jordi Gali
Mark Gertler

Optimal Monetary Policy in Closed versus Open Economies: An Integrated Approach
w8600 Tilak Abeysinghe
Kristin J. Forbes

Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia
w8598 Edward L. Glaeser
Joseph Gyourko

Urban Decline and Durable Housing
w8591 Joydeep Bhattacharya
Casey B. Mulligan
Robert R. Reed III

Labor Market Search and Optimal Retirement Policy
w8590 Casey B. Mulligan
Charles G. Hunter

The Empirical Frequency of a Pivotal Vote
w8580 Raquel Fernandez
Nezih Guner
John Knowles

Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality
w8558 Jeffrey R. Campbell
Beverly Lapham

Real Exchange Rate Fluctuations and the Dynamics of Retail Trade Industries on the U.S.-Canada Border
w8539 Lawrence J. Christiano
Massimo Rostagno

Money Growth Monitoring and the Taylor Rule
w8536 Sean Nicholson
Nicholas S. Souleles

Physician Income Expectations and Specialty Choice
w8532 Francesco Caselli
Massimo Morelli

Bad Politicians
w8530 Alwyn Young
Demographic Fluctuations, Generational Welfare and Intergenerational Transfers
w8527 Russell W. Cooper
Jonathan L. Willis

The Economics of Labor Adjustment: Mind the Gap
w8526 Giuseppe Bertola
Francine D. Blau
Lawrence M. Kahn

Comparative Analysis of Labor Market Outcomes: Lessons for the US from International Long-Run Evidence
w8520 Raphael Bergoeing
Patrick J. Kehoe
Timothy J. Kehoe
Raimundo Soto

A Decade Lost and Found: Mexico and Chile in the 1980s
w8518 Donald R. Davis
David E. Weinstein

Market Size, Linkages, and Productivity: A Study of Japanese Regions
w8517 Donald R. Davis
David E. Weinstein

Bones, Bombs and Break Points: The Geography of Economic Activity
w8513 Katharine G. Abraham
Robert Shimer

Changes in Unemployment Duration and Labor Force Attachment
w8512 Stanley L. Engerman
Kenneth L. Sokoloff

The Evolution of Suffrage Institutions in the New World
w8501 Robert Shimer
The Assignment of Workers to Jobs In an Economy with Coordination Frictions
w8496 Christopher D. Carroll
Miles S. Kimball

Liquidity Constraints and Precautionary Saving
w8488 Douglas W. Elmendorf
Jeffrey B. Liebman
David W. Wilcox

Fiscal Policy and Social Security Policy During the 1990s
w8475 Marianne Baxter
Dorsey D. Farr

The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International Evidence
w8471 N. Gregory Mankiw
U.S. Monetary Policy During the 1990s
w8463 Wouter Den Haan
Christian Haefke
Garey Ramey

Shocks and Institutions in a Job Matching Model
w8460 Daron Acemoglu
Simon Johnson
James A. Robinson

Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution
w8434 Steven J. Davis
The Quality Distribution of Jobs and the Structure of Wages in Search Equilibrium
w8430 Robert H. McGuckin
Ataman Ozyildirim
Victor Zarnowitz

The Composite Index of Leading Economic Indicators: How to Make It More Timely
w8428 Ricardo Caballero
Arvind Krishnamurthy

A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems
w8427 Ricardo Caballero
Arvind Krishnamurthy

Smoothing Sudden Stops
w8426 Robert Barsky
Mark Bergen
Shantanu Dutta
Daniel Levy

What Can the Price Gap between Branded and Private Label Products Tell Us about Markups?
w8423 Marvin Goodfriend
Robert G. King

The Case for Price Stability
w8421 Laurence Ball
Robert Moffitt

Productivity Growth and the Phillips Curve
w8410 Nicholas S. Souleles
Consumer Sentiment: Its Rationality and Usefulness in Forecasting Expenditure - Evidence from the Michigan Micro Data
w8409 David B. Gross
Nicholas S. Souleles

An Empirical Analysis of Personal Bankruptcy and Delinquency
w8407 Michael Dotsey
Robert G. King

Pricing, Production and Persistence
w8403 Lawrence J. Christiano
Martin Eichenbaum
Charles Evans

Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
w8392 Marianne Baxter
Dorsey Farr

Variable Factor Utilization and International Business Cycles
w8390 Osmel Manzano
Roberto Rigobon

Resource Curse or Debt Overhang?
w8379 Ben S. Bernanke
Jean Boivin

Monetary Policy in a Data-Rich Environment
w8377 Raquel Fernandez
Education, Segregation and Marital Sorting: Theory and an Application to UK Data
w8369 Maurice Obstfeld
International Macroeconomics: Beyond the Mundell-Fleming Model
w8365 Ben S. Bernanke
Refet S. Gurkaynak

Is Growth Exogenous? Taking Mankiw, Romer and Weil Seriously
w8360 Fernando Alvarez
Urban J. Jermann

The Size of the Permanent Component of Asset Pricing Kernels
w8359 Susanto Basu
John G. Fernald
Matthew D. Shapiro

Productivity Growth in the 1990s: Technology, Utilization, or Adjustment?
w8330 Robert J. Barro
Economic Growth in East Asia Before and After the Financial Crisis
w8320 Douglas Staiger
James H. Stock
Mark W. Watson

Prices, Wages and the U.S. NAIRU in the 1990s
w8296 Kala Krishna
Cemile Yavas

Lumpy Consumer Durables, Market Power, and Endogenous Business Cycles
w8290 N. Gregory Mankiw
Ricardo Reis

Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve
w8287 Daron Acemoglu
Directed Technical Change
w8277 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

On the Fiscal Implications of Twin Crises
w8270 Laurence Ball
N. Gregory Mankiw

Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design
w8257 Michael Kremer
Benjamin A. Olken

A Biological Model of Unions
w8255 Lars E.O. Svensson
Michael Woodford

Indicator Variables for Optimal Policy under Asymmetric Information
w8250 Michael Kremer
Alexei Onatski
James Stock

Searching for Prosperity
w8245 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Does Financial Liberalization Spur Growth?
w8243 Martin N. Baily
Robert Lawrence

Do We Have A New E-Conomy?
w8226 Bennett T. McCallum
Should Monetary Policy Respond Strongly to Output Gaps?
w8225 Bennett T. McCallum
Inflation Targeting and the Liquidity Trap
w8221 John Y. Campbell
Robert J. Shiller

Valuation Ratios and the Long-Run Stock Market Outlook: An Update
w8219 Olivier Blanchard
Augustin Landier

The Perverse Effects of Partial Labor Market Reform: Fixed Duration Contracts in France
w8218 Jordi Gali
Mark Gertler
J. David Lopez-Salido

European Inflation Dynamics
w8206 Yoshiaki Azuma
Herschel I. Grossman

Educational Inequality
w8192 Edward E. Leamer
The Life Cycle of US Economic Expansions
w8182 Russell Cooper
Joao Ejarque

Exhuming Q: Market Power vs. Capital Market Imperfections
w8180 James H. Stock
Mark W. Watson

Forecasting Output and Inflation: The Role of Asset Prices
w8175 Bennett T. McCallum
Edward Nelson

Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices
w8174 Bennett T. McCallum
Monetary Policy Analysis in Models Without Money
w8159 Casey B. Mulligan
Aggregate Implications of Indivisible Labor
w8141 Ricardo J. Caballero
Arvind Krishnamurthy

International Liquidity Illusion: On the Risks of Sterilization
w8139 Stefania Albanesi
V.V. Chari
Lawrence J. Christiano

How Severe is the Time Inconsistency Problem in Monetary Policy?
w8131 Andrew B. Abel
Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?
w8120 Olivier Blanchard
Francesco Giavazzi

Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
w8119 Jeffrey D. Sachs
Tropical Underdevelopment
w8117 Edward L. Glaeser
Matthew E. Kahn

Decentralized Employment and the Transformation of the American City
w8114 John W. McArthur
Jeffrey D. Sachs

Institutions and Geography: Comment on Acemoglu, Johnson and Robinson (2000)
w8113 Chang-Tai Hsieh
Christina D. Romer

Was the Federal Reserve Fettered? Devaluation Expectations in the 1932 Monetary Expansion
w8109 Herschel I. Grossman
Juan Mendoza

Annexation or Conquest? The Economics of Empire Building
w8107 Pierre-Olivier Gourinchas
Jonathan A. Parker

The Empirical Importance of Precautionary Saving
w8104 Aart Kraay
Jaume Ventura

Comparative Advantage and the Cross-section of Business Cycles
w8097 William D. Nordhaus
New Data and Output Concepts for Understanding Productivity Trends
w8096 William D. Nordhaus
Productivity Growth and the New Economy
w8095 William D. Nordhaus
Alternative Methods for Measuring Productivity Growth
w8077 Ellen R. McGrattan
Edward C. Prescott

Is the Stock Market Overvalued?
w8072 Michael Woodford
Fiscal Requirements for Price Stability
w8071 Michael Woodford
Inflation Stabilization and Welfare
hult01-1 Charles R. Hulten
Edwin R. Dean and Michael J. Harper
editors

New Developments in Productivity Analysis
2000
w8053 Edward L. Glaeser
Jose Scheinkman

Non-Market Interactions
w8043 Robert J. Barro
Silvana Tenreyro

Closed and Open Economy Models of Business Cycles with Marked Up and Sticky Prices
w8041 William A. Brock
Steven N.Durlauf

Growth Economics and Reality
w8040 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

The Welfare Cost of Business Cycles Revisited: Finite Lives and Cyclical Variation in Idiosyncratic Risk
w8033 Albert Ando
On the Japanese Economy and Japanese National Accounts
w8030 Christopher L. House
John V. Leahy

An sS Model with Adverse Selection
w8023 Michael J. Boskin
Lawrence J. Lau

Generalized Solow-Neutral Technical Progress and Postwar Economic Growth
w8022 Rodolfo E. Manuelli
Technological Change, the Labor Market and the Stock Market
w7995 Kjetil Storesletten
Chris I. Telmer
Amir Yaron

Consumption and Risk Sharing Over the Life Cycle
w7981 Judith A. Chevalier
Anil K. Kashyap
Peter E. Rossi

Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data
w7988 Laurence Ball
Near-Rationality and Inflation in Two Monetary Regimes
w7978 Fernando Alvarez
Urban J. Jermann

Using Asset Prices to Measure the Cost of Business Cycles
w7971 Ricardo Caballero
Arvind Krishnamurthy

International and Domestic Collateral Constraints in a Model of Emerging Market Crises
w7954 James D. Hamilton
Dong Heon Kim

A Re-examination of the Predictability of Economic Activity Using the Yield Spread
w7953 Lars E.O. Svensson
Michael Woodford

Indicator Variables for Optimal Policy
w7940 Susanto Basu
John Fernald

Why Is Productivity Procyclical? Why Do We Care?
w7936 Jeffrey R. Campbell
Jonas D.M.Fisher

Idiosyncratic Risk and Aggregate Employment Dynamics
w7925 Russell W. Cooper
John C. Haltiwanger

On the Nature of Capital Adjustment Costs
w7916 Bennett T. McCallum
The Present and Future of Monetary Policy Rules
w7915 Bennett T. McCallum
Edward Nelson

Timeless Perspectives vs. Discretionary Monetary Policy In Forward-Looking Models
w7912 Patric H. Hendershott
Bryan D. MacGregor
Raymond Y.C. Tse

Estimating the Rental Adjustment Process
w7911 Robert J. Barro
Jong-Wha Lee

International Data on Educational Attainment Updates and Implications
w7910 Laurence Ball
Policy Rules and External Shocks
w7908 Miguel Casares
Bennett T. McCallum

An Optimizing IS-LM Framework with Endogenous Investment
w7906 Karen E. Dynan
Jonathan Skinner
Stephen P. Zeldes

Do the Rich Save More?
w7904 Francesco Caselli
Wilbur John Coleman II

The World Technology Frontier
w7898 Herschel I. Grossman
Inventors and Pirates: Creative Activity and Intellectual Property Rights
w7897 Herschel I. Grossman
The Creation of Effective Property Rights
w7894 William M. Gentry
R. Glenn Hubbard

Entrepreneurship and Household Saving
w7884 N. Gregory Mankiw
The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment
w7879 David Laibson
Andrea Repetto
Jeremy Tobacman

A Debt Puzzle
w7871 Fernando Alvarez
Andrew Atkeson
Patrick J. Kehoe

Money, Interest Rates, and Exchange Rates with Endogenously Segmented Asset Markets
w7870 Patrick J. Kehoe
Fabrizio Perri

International Business Cycles with Endogenous Incomplete Markets
w7869 V.V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?
w7862 Ariel T. Burstein
Joao C. Neves
Sergio Rebelo

Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based-Stabilizations
w7856 Alwyn Young
Gold into Base Metals: Productivity Growth in the People's Republic of China during the Reform Period
w7853 Michael Woodford
Monetary Policy in a World Without Money
w7849 Ricardo J. Caballero
Mohamad L. Hammour

Creative Destruction and Development: Institutions, Crises, and Restructuring
w7847 James D. Hamilton
Oscar Jorda

A Model for the Federal Funds Rate Target
w7833 Robert J. Gordon
Does the "New Economy" Measure up to the Great Inventions of the Past?
w7828 Alwyn Young
The Razor's Edge: Distortions and Incremental Reform in the People's Republic of China
w7618 Frederic S. Mishkin
Inflation Targeting in Emerging Market Countries
w7809 Lawrence J. Christiano
Christopher J. Gust

The Expectations Trap Hypothesis
w7800 Daron Acemoglu
Technical Change, Inequality, and the Labor Market
w7799 George J. Borjas
Valerie A. Ramey

Market Responses to Interindustry Wage Differentials
w7796 Steven J. Davis
Jeremy Nalewaik
Paul Willen

On the Gains to International Trade in Risky Financial Assets
w7793 Abhijit V. Banerjee
Esther Duflo

Inequality and Growth: What Can the Data Say?
w7792 Ricardo J. Caballero
Arvind Krishnamurthy

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment
w7790 Ed Glaeser
Jed Kolko
Albert Saiz

Consumer City
w7788 Aart Kraay
Jaume Ventura

Product Prices and the OECD Cycle
w7787 Robert W. Fogel
Simon S. Kuznets: April 30, 1901-July 9, 1985
w7785 Jerome Adda
Russell Cooper

The Dynamics of Car Sales: A Discrete Choice Approach
w7782 Ricardo J. Caballero
Macroeconomic Volatility in Latin America: A View and Three Case Studies
w7777 Maurice Obstfeld
Kenneth Rogoff

The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
w7771 Daron Acemoglu
Simon Johnson
James A. Robinson

The Colonial Origins of Comparative Development: An Empirical Investigation
w7759 Robert J. Gordon
The Boskin Commission Report and its Aftermath
w7755 James D. Hamilton
What is an Oil Shock?
w7752 Robert J. Gordon
Interpreting the "One Big Wave" in U.S. Long-Term Productivity Growth
w7750 Gernot Doppelhofer
Ronald I. Miller
Xavier Sala-i-Martin

Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach
w7740 Ricardo J. Caballero
Arvind Krishnamurthy

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets
w7739 Andrew B. Abel
The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks
w7725 Bennett T. McCallum
Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan
w6675 Bennett T. McCallum
Edward Nelson

Nominal Income Targeting in an Open-Economy Optimizing Model
w7721 Victor Zarnowitz
The Old and the New in U.S. Economic Expansion of the 1990s
w7720 Ricardo J. Caballero
Mohamad L. Hammour

Institutions, Restructuring, and Macroeconomic Performance
w7695 Mark Bils
Peter J. Klenow

Quantifying Quality Growth
w7694 Orazio Attanasio
Pinelopi K. Goldberg
Ekaterini Kyriazidou

Credit Constraints in the Market for Consumer Durables: Evidence from Micro Data on Car Loans
w7680 Casey B. Mulligan
Can Monopoly Unionism Explain Publicly Induced Retirement?
w7677 Bennett T. McCallum
Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates
w7675 Marvin J. Barth III
Valerie A. Ramey

The Cost Channel of Monetary Transmission
w7672 John V. Leahy
Joseph Zeira

The Timing of Purchases and Aggregate Fluctuations
w7668 Lawrence J. Christiano
Terry J. Fitzgerald

Understanding the Fiscal Theory of the Price Level
w7664 Stanley Fischer
Ratna Sahay

The Transition Economies After Ten Years
w7662 Alan J. Auerbach
Daniel Feenberg

The Significance of Federal Taxes as Automatic Stabilizers
w7647 Benjamin M. Friedman
What Have We Learned from the Reagan Deficits and Their Disappearance?
w7633 Larry Jones
Rodolfo Manuelli
Henry Siu

Growth and Business Cycles
w6767 Gerardo della Paolera
Alan M. Taylor

Economic Recovery from the Argentine Great Depression: Institutions, Expectations, and the Change of Macroeconomic Regime
w7617 Frederic S. Mishkin
Miguel A. Savastano

Monetary Policy Strategies for Latin America
w7607 Russell W. Cooper
Hubert Kempf

Designing Stabilization Policy in a Monetary Union
w7591 Alan B. Krueger
Mikael Lindahl

Education for Growth: Why and For Whom?
w7590 John Y. Campbell
Martin Lettau
Burton G. Malkiel
Yexiao Xu

Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk
w7589 John Y. Campbell
Asset Pricing at the Millennium
w7575 Michael Kremer
Paras Mehta

Globalization and International Public Finance
w7087 Bennett T. McCallum
Role of the Minimal State Variable Criterion
w7571 N. Gregory Mankiw
The Savers-Spenders Theory of Fiscal Policy
w7559 Ben Bernanke
Mark Gertler

Monetary Policy and Asset Price Volatility
w7551 Jordi Gali
Mark Gertler

Inflation Dynamics: A Structural Econometric Analysis
w7550 Olivier Blanchard
What do we know about Macroeconomics that Fisher and Wicksell did not?
w7549 Mark Gertler
Cara S. Lown

The Information in the High Yield Bond Spread for the Business Cycle: Evidence and Some Implications
w7544 Daron Acemoglu
Labor- and Capital- Augmenting Technical Change
w7541 Desmond McCarthy
Holger Wolf
Yi Wu

The Growth Costs of Malaria
w7540 Dani Rodrik
Institutions for High-Quality Growth: What They are and How to Acquire Them
w7534 Robert G. King
Sergio T. Rebelo

Resuscitating Real Business Cycles
w7530 Michael Kremer
Daniel Chen

Income-distribution Dynamics with Endogenous Fertility
w7515 Craig Burnside
Martin Eichenbaum
Jonas D.M. Fisher

Fiscal Shocks in an Efficiency Wage Model
w7508 Raquel Fernandez
Richard Rogerson

Sorting and Long-Run Inequality
w7503 J. Vernon Henderson
The Effects of Urban Concentration on Economic Growth
w7490 Alexei Onatski
James H. Stock

Robust Monetary Policy Under Model Uncertainty in a Small Model of the U.S. Economy
w7465 Timothy Dunne
John Haltiwanger
Lucia Foster

Wage and Productivity Dispersion in U.S. Manufacturing: The Role of Computer Investment
w7459 Craig Burnside
Martin Eichenbaum
Jonas D.M. Fisher

Assessing the Effects of Fiscal Shocks
1999
w7448 Peter L. Rousseau
Richard Sylla

Emerging Financial Markets and Early U.S. Growth
w7444 Daron Acemoglu
Joshua Angrist

How Large are the Social Returns to Education? Evidence from Compulsory Schooling Laws
w7439 Julio J. Rotemberg
A Heuristic Method for Extracting Smooth Trends from Economic Time Series
w7425 Brett Katzman
John Kennan
Neil Wallace

Optimal Monetary Impulse-Response Functions in a Matching Model
w7420 Benjamin M. Friedman
The Future of Monetary Policy: The Central Bank as an Army With Only a Signal Corps
w7393 Bennett T. McCallum
Theoretical Issues Pertaining to Monetary Unions
w7375 Charles I. Jones
Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run
w7358 Vernon Henderson
Marshall's Economies
w7355 Ricardo J. Caballero
Mohamad L. Hammour

The Cost of Recessions Revisited: A Reverse-Liquidationist View
w7352 Daron Acemoglu
Robert Shimer

Productivity Gains from Unemployment Insurance
w7351 Taizo Motonishi
Hirshi Yoshikawa

Causes of the Long Stagnation of Japan During the 1990s: Financial or Real?
w7350 Tamim Bayoumi
The Morning After: Explaining the Slowdown in Japanese Growth in the 1990s
w7311 Mark Bils
Yongsung Chang

Understanding How Price Responds to Costs and Production
w7310 Mark Bils
James A. Kahn

What Inventory Behavior Tells Us About Business Cycles
w7309 Mark Bils
Yongsung Chang

Wages and the Allocation of Hours and Effort
w7306 Robert Shimer
The Impact of Young Workers on the Aggregate Labor Market
w7283 Charles I. Jones
John C. Williams

Too Much of a Good Thing? The Economics of Investment in R&D
w7282 Olivier Blanchard
Justin Wolfers

The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence
w6390 Frederic S. Mishkin
International Capital Movements, Financial Volatility and Financial Instability
w7271 Pierre-Olivier Gourinchas
Jonathan A. Parker

Consumption Over the Life Cycle
w7269 Olivier Blanchard
Roberto Perotti

An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
w7261 Michael Woodford
Optimal Monetary Policy Inertia
w7257 Lawrence J. Christiano
Terry J. Fitzgerald

The Band Pass Filter
w7238 Jonathan A. Parker
Spendthrift in America? On Two Decades of Decline in the U.S. Saving Rate
w7237 John Y. Campbell
John H. Cochrane

Explaining the Poor Performance of Consumption-Based Asset Pricing Models
w7218 Wouter J. den Haan
Garey Ramey
Joel Watson

Job Destruction and the Experiences of Displaced Workers
w7181 Robert E. Hall
Reorganization
w7180 Robert E. Hall
The Stock Market and Capital Accumulation
w7170 John H. Cochrane
Portfolio Advice for a Multifactor World
w7169 John H. Cochrane
New Facts in Finance
w7161 Alan S. Blinder
Central Bank Credibility: Why Do We Care? How Do We Build It?
w7160 Robert J. Shiller
Designing Indexed Units of Account
w6564 Robert E. Hall
Charles I. Jones

Why Do Some Countries Produce So Much More Output per Worker than Others?
w7147 Richard Clarida
Jordi Gali
Mark Gertler

The Science of Monetary Policy: A New Keynesian Perspective
w7146 Jeffrey G. Williamson
The Impact of Globalization on Pre-Industrial, Technologically Quiescent Economies
w7145 William J. Collins
Jeffrey G. Williamson

Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950
w7143 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Hedging and Financial Fragility in Fixed Exchange Rate Regimes
w7132 Roland Benabou
Tax and Education Policy in a Heterogeneous Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?
w7103 Peter Diamond
Jean Geanakoplos

Social Security Investment in Equities I: Linear Case
w7095 Steven J. Davis
John Haltiwanger

Sectoral Job Creation and Destruction Responses to Oil Price Changes
w7090 Susanto Basu
Alan M. Taylor

Business Cycles in International Historical Perspective
w7088 Bennett T. McCallum
Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence
w7072 Larry E. Jones
Rodolfo E. Manuelli

Volatile Policy and Private Information: The Case of Monetary Policy
w7063 Larry E. Jones
Rodolfo E. Manuelli
Ennio Stacchetti

Technology (and Policy) Shocks in Models of Endogenous Growth
w6367 Victor Zarnowitz
Has the Business Cycle Been Abolished?
w6283 Valerie A. Ramey
Matthew D. Shapiro

Costly Capital Reallocation and the Effects of Government Spending
w7060 Fernando Alvarez
Andrew Atkeson
Patrick J. Kehoe

Money and Interest Rates with Endogeneously Segmented Markets
w7057 Wouter den Haan
Garey Ramey
Joel Watson

Liquidity Flows and Fragility of Business Enterprises
w7046 Marianne Baxter
Urban J. Jermann

Household Production and the Excess Sensitivity of Consumption to Current Income
w7038 Robert J. Barro
Inequality, Growth, and Investment
w7036 Alan J. Auerbach
Kevin A. Hassett

Uncertainty and the Design of Long-Run Fiscal Policy
w7029 John Y. Campbell
Joao F. Cocco
Francisco J. Gomes
Pascal J. Maenhout

Investing Retirement Wealth: A Life-Cycle Model
w7027 Lawrence J. Christiano
Robert J. Vigfusson

Maximum Likelihood in the Frequency Domain: A Time to Build Example
w7025 Robert E. Hall
The Concentration of Job Destruction
w7023 James H. Stock
Mark W. Watson

Forecasting Inflation
w7017 Lawrence J. Christiano
Christopher J. Gust

Taylor Rules in a Limited Participation Model
w7011 Marjorie Flavin
Robust Estimation of the Joint Consumption / Asset Demand Decision
w7010 Victor Zarnowitz
Theory and History Behind Business Cycles: Are the 1990s the Onset of a Golden Age?
w6991 Andrew B. Abel
The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation
w6987 Andrew Caplin
John Leahy

Durable Goods Cycles
w6973 Owen Lamont
Investment Plans and Stock Returns
w6972 Wouter J. den Haan
Garey Ramey
Joel Watson

Contract-Theoretic Approaches to Wages and Displacement
w6965 Frederic S. Mishkin
International Experiences with Different Monetary Policy Regimes
w6948 Christina D. Romer
Changes in Business Cycles: Evidence and Explanations
w6928 Francis X. Diebold
Lutz Kilian

Unit Root Tests Are Useful for Selecting Forecasting Models
w6926 Yin-Wong Cheung
Menzie D. Chinn

Are Macroeconomic Forecasts Informative? Cointegration Evidence from the ASA-NBER Surveys
w6914 Robert E. Hall
Controlling the Price Level
w6912 Robert E. Hall
Aggregate Job Destruction and Inventory Liquidation
w6909 Julio J. Rotemberg
Michael Woodford

The Cyclical Behavior of Prices and Costs
w6898 Russell Cooper
Alok Johri

Learning by Doing and Aggregate Fluctuations
w6891 V. V. Chari
Patrick J. Kehoe

Optimal Fiscal and Monetary Policy
hest99-1 Alan Heston and Robert E. Lipsey
editors

International and Interarea Comparisons of Income, Output, and Prices
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
rose98-1 Andrew K. Rose and Guido Tabellini
editors

International Seminar on Macroeconomics 1997
w6567 Orazio Attanasio
James Banks
Sarah Tanner

Asset Holding and Consumption Volatility
w6566 Olivier Blanchard
Revisiting European Unemployment: Unemployment, Capital Accumulation, and Factor Prices
w6560 Orazio P. Attanasio
Tullio Jappelli

Intertemporal Choice and the Cross-Sectional Variance of Marginal Utility
w6551 Elhanan Helpman
Antonio Rangel

Adjusting to a New Technology: Experience and Training
w6528 James H. Stock
Mark W. Watson

Business Cycle Fluctuations in U.S. Macroeconomic Time Series
w6501 Robert E. Hall
Labor-Market Frictions and Employment Fluctuations
w6485 John Y. Campbell
Asset Prices, Consumption, and the Business Cycle
w6480 Atish R. Ghosh
Holger Wolf

Thresholds and Context Dependence in Growth
w6470 Douglas W. Elmendorf
N. Gregory Mankiw

Government Debt
w6466 Orazio P. Attanasio
Consumption Demand
w6456 Bennett T. McCallum
Indeterminacy, Bubbles, and the Fiscal Theory of Price Level Determination
w6455 Ben Bernanke
Mark Gertler
Simon Gilchrist

The Financial Accelerator in a Quantitative Business Cycle Framework
w6445 Julio J. Rotemberg
Cyclical Movements in Wages and Consumption in a Bargaining Model of Unemployment
w6442 Richard Clarida
Jordi Gali
Mark Gertler

Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory
w6422 Steven N. Durlauf
Danny T. Quah

The New Empirics of Economic Growth
w6420 Ricardo J. Caballero
Eduardo M.R.A. Engel

Nonlinear Aggregate Investment Dynamics: Theory and Evidence
w6403 Herschel I. Grossman
Minseong Kim

Human Capital and Predation: A Positive Theory of Educational Policy
w6400 Lawrence J. Christiano
Martin Eichenbaum
Charles L. Evans

Monetary Policy Shocks: What Have We Learned and to What End?
w6397 Dan Ben-David
Robin L. Lumsdaine
David H. Papell

Unit Roots, Postwar Slowdowns and Long-Run Growth: Evidence from Two Structural Breaks
w6393 Mark Bils
Peter J. Klenow

Does Schooling Cause Growth or the Other Way Around?
w6392 Austan Goolsbee
The Business Cycle, Financial Performance, and the Retirement of Capital Goods
w6207 John H. Cochrane
Where is the Market Going? Uncertain Facts and Novel Theories
w6150 Martin Feldstein
The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability
w6126 Frederic S. Mishkin
Adam S. Posen

Inflation Targeting: Lessons from Four Countries
w6122 Frederic S. Mishkin
Strategies for Controlling Inflation
w6389 Marjorie Flavin
Takashi Yamashita

Owner-Occupied Housing and the Composition of the Household Portfolio Over the Life-Cycle
w6371 Lawrence J. Christiano
Martin Eichenbaum
Charles L. Evans

Modeling Money
w6350 Dani Rodrik
Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses
1997
w6342 Austan Goolsbee
David B. Gross

Estimating Adjustment Costs with Data on Heterogeneous Capital Goods
w6317 Robert J. Barro
Myopia and Inconsistency in the Neoclassical Growth Model
w6315 Valerie A. Ramey
Kenneth D. West

Inventories
w6298 Christopher D. Carroll
Death to the Log-Linearized Consumption Euler Equation! (And Very Poor Health to the Second-Order Approximation)
w6291 Bennett T. McCallum
The Alleged Instability of Nominal Income Targeting
w6290 Francis X. Diebold
The Past, Present, and Future of Macroeconomic Forecasting
w6289 Herschel I. Grossman
"Make Us a King": Anarchy, Predation, and the State
w6288 Joshua L. Rosenbloom
William A. Sundstrom

The Sources of Regional Variation in the Severity of the Great Depression: Evidence from U.S. Manufacturing, 1919-1937
w6285 Charles I. Jones
Population and Ideas: A Theory of Endogenous Growth
w6284 Charles I. Jones
The Upcoming Slowdown in U.S. Economic Growth
w6275 Wouter J. den Haan
Garey Ramey
Joel Watson

Job Destruction and Propagation of Shocks
w6268 David E. Bloom
Jeffrey G. Williamson

Demographic Transitions and Economic Miracles in Emerging Asia
w6267 Dan Ben-David
Convergence Clubs and Subsistence Economies
w6266 Dan Ben-David
David H. Papell

Slowdowns and Meltdowns: Postwar Growth Evidence from 74 Countries
w6264 Ricardo J. Caballero
Aggregate Investment
w6254 Richard Clarida
Jordi Gali
Mark Gertler

Monetary Policy Rules in Practice: Some International Evidence
w6252 Xavier X. Sala-i-Martin
I Just Ran Four Million Regressions
w6230 Victor Zarnowitz
Business Cycles Observed and Assessed: Why and How They Matter
w6228 Francis X. Diebold
Anthony S. Tay
Kenneth F. Wallis

Evaluating Density Forecasts of Inflation: The Survey of Professional Forecasters
w6221 Ricardo J. Caballero
Mohamad L. Hammour

Jobless Growth: Appropriability, Factor Substitution, and Unemployment
t0218 Lawrence J. Christiano
Jonas D.M. Fisher

Algorithms for Solving Dynamic Models with Occasionally Binding Constraints
t0217 Peter F. Christoffersen
Francis X. Diebold

Cointegration and Long-Horizon Forecasting
t0215 Francis X. Diebold
Todd A. Gunther
Anthony S. Tay

Evaluating Density Forecasts
w6200 Martin Feldstein
Capital Income Taxes and the Benefit of Price Stability
w6197 Robert J. Barro
Optimal Management of Indexed and Nominal Debt
w6188 Michael Woodford
Doing Without Money: Controlling Inflation in a Post-Monetary World
w6172 Fumio Hayashi
The Main Bank System and Corporate Investment: An Empirical Reassessment
w6168 Sergio Rebelo
What Happens When Countries Peg Their Exchange Rates? (The Real Side of Monetary Reforms)
w6163 Alberto Alesina
Enrico Spolaore
Romain Wacziarg

Economic Integration and Political Disintegration
w6161 Ben Broadbent
Michael Kremer

Does Favorable Tax-Treatment of Housing Reduce Equipment Investment?
w6159 Piyabha Kongsamut
Sergio Rebelo
Danyang Xie

Beyond Balanced Growth
w6157 Ben S. Bernanke
Michael Woodford

Inflation Forecasts and Monetary Policy
w6149 Martin Feldstein
Transition to a Fully Funded Pension System: Five Economic Issues
w6148 Andrew B. Abel
Janice C. Eberly

The Mix and Scale of Factors with Irreversibility and Fixed Costs of Investment
t0213 Francis X. Diebold
Lutz Kilian

Measuring Predictability: Theory and Macroeconomic Applications
w6117 David Romer
Misconceptions and Political Outcomes
w6094 Russell Cooper
Dean Corbae

Financial Fragility and the Great Depression
w6081 Christopher D. Carroll
Wendy E. Dunn

Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets
w6070 Ann L. Owen
David N. Weil

Intergenerational Earnings Mobility, Inequality, and Growth
w6056 Anil K. Kashyap
Jeremy C. Stein

What Do a Million Banks Have to Say About the Transmission of Monetary Policy?
w6055 Martin Feldstein
Andrew Samwick

The Economics of Prefunding Social Security and Medicare Benefits
w6048 Jerome Adda
Russell Cooper

Balladurette and Juppette: A Discrete Analysis of Scrapping Subsidies
w6046 Darrel Cohen
Kevin A. Hassett
R. Glenn Hubbard

Inflation and the User Cost of Capital: Does Inflation Still Matter?
w6038 Ramon Marimon
Fabrizio Zilibotti

Unemployment vs. Mismatch of Talents: Reconsidering Unemployment Benefits
w6024 Alberto Alesina
Romain Wacziarg

Openness, Country Size and the Government
w6016 Bennett T. McCallum
Issues in the Design of Monetary Policy Rules
w6008 Duncan Black
Vernon Henderson

Urban Growth
w6005 Andrew Atkeson
Patrick Kehoe

Industry Evolution and Transition: A Neoclassical Benchmark
w5997 Herschel I. Grossman
Taejoon Han

Sovereign Debt and Consumption Smoothing
w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment
w5994 Russell W. Cooper
Business Cycles: Theory, Evidence and Implications
w5984 Robin L. Lumsdaine
Eswar S. Prasad

Identifying the Common Component in International Economic Fluctuations
w5980 Matthew D. Shapiro
David W. Wilcox

Alternative Strategies for Aggregating Prices in the CPI
w5955 Jeffrey R. Campbell
Entry, Exit, Embodied Technology, and Business Cycles
w5954 Casey B. Mulligan
Xavier X. Sala-i-Martin

The Optimum Quantity of Money: Theory and Evidence
w5952 Laurence Ball
Efficient Rules for Monetary Policy
w5951 Patrick K. Asea
S. Brock Blomberg

Lending Cycles
w5947 Sergio Rebelo
Danyang Xie

On the Optimality of Interest Rate Smoothing
w5935 Jeffrey D. Sachs
Wing Thye Woo

Understanding China's Economic Performance
w5933 Robert E. Hall
Macroeconomic Fluctuations and the Allocation of Time
w5930 Raquel Fernandez
Jordi Gali

To Each According To...? Markets, Tournaments, and the Matching Problem with Borrowing Constraints
w5922 Joao Gomes
Jeremy Greenwood
Sergio Rebelo

Equilibrium Unemployment
w5915 Susanto Basu
Miles S. Kimball

Cyclical Productivity with Unobserved Input Variation
w5914 Dani Rodrik
TFPG Controversies, Institutions, and Economic Performance in East Asia
w5893 Ben S. Bernanke
Frederic S. Mishkin

Inflation Targeting: A New Framework for Monetary Policy?
w5892 Allan Drazen
Policy Signaling in the Open Economy: A Re-Examination
w5884 Albert Ando
John Hancock
Gary Sawchuk

Cost of Capital for the United States, Japan, and Canada: An Attempt at Measurement Based on Individual Company Records and Aggregate National Acccoun
w5876 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles
w5875 Bennett T. McCallum
Edward Nelson

An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis
rome97-1 Christina D. Romer and David H. Romer
Editors

Reducing Inflation: Motivation and Strategy
1996
w5865 Susanto Basu
David N. Weil

Appropriate Technology and Growth
w5857 John Y. Campbell
Luis M. Viceira

Consumption and Portfolio Decisions When Expected Returns are Time Varying
w5856 Timothy Frye
Andrei Shleifer

The Invisible Hand and the Grabbing Hand
w5849 Frederic S. Mishkin
Bank Consolidation: A Central Banker's Perspective
w5845 Arturo Estrella
Frederic S. Mishkin

Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?
w5844 Bennett T. McCallum
Neoclassical vs. Endogenous Growth Analysis: An Overview
w5828 Giuseppe Bertola
Richard Rogerson

Institutions and Labor Reallocation
w5822 Olivier Blanchard
Lawrence F. Katz

What We Know and Do Not Know About the Natural Rate of Unemployment
w5812 Robert E. Hall
Charles I. Jones

The Productivity of Nations
w5809 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?
w5804 Lawrence J. Christiano
Martin Eichenbaum
Charles L. Evans

Sticky Price and Limited Participation Models of Money: A Comparison
w5792 Wouter J. Den Haan
Understanding Equilibrium Models with a Small and a Large Number of Agents
w5788 Christopher D. Carroll
Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
w5782 Dennis W. Carlton
A Critical Assessment of the Role of Imperfect Competition in Macroeconomics
w5775 Steven J. Davis
John Haltiwanger

On the Driving Forces Behind Cyclical Movement, in Employment and Job Reallocation
w5767 Jeffrey R. Campbell
Jonas D.M. Fisher

Aggregate Employment Fluctuations with Microeconomic Asymmetries
w5764 Ben S. Bernanke
Ilian Mihov

What Does the Bundesbank Target?
w5758 Raghuram G. Rajan
Luigi Zingales

Financial Dependence and Growth
w5757 Ricardo J. Caballero
Mohamad L. Hammour

The Macroeconomics of Specificity
w5739 Robert J. Gordon
Macroeconomic Policy in the Presence of Structural Maladjustment
t0203 Steven N. Durlauf
Statistical Mechanics Approaches to Socioeconomic Behavior
w5735 Robert J. Gordon
The Time-Varying NAIRU and its Implications for Economic Policy
w5732 Jeffrey A. Frankel
David Romer
Teresa Cyrus

Trade and Growth in East Asian Countries: Cause and Effect?
w5721 Jordi Gali
Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations
w5718 Michael Kremer
Eric Maskin

Wage Inequality and Segregation by Skill
w5704 Herschel I. Grossman
Minseong Kim

Inequality, Predation and Welfare
w5703 Lawrence J. Christiano
Sharon G. Harrison

Chaos, Sunspots, and Automatic Stabilizers
w5698 Robert J. Barro
Determinants of Economic Growth: A Cross-Country Empirical Study
w5692 Christina D. Romer
David H. Romer

Federal Reserve Private Information and the Behavior of Interest Rates
w5691 Russell Cooper
Alok Johri

Dynamic Complementarities: A Quantitative Analysis
w5684 Michael Woodford
Control of the Public Debt: A Requirement for Price Stability?
w5683 Kevin A. Hassett
R. Glenn Hubbard

Tax Policy and Investment
w5674 Michael Kremer
Charles Morcom

Elephants
w5659 George Evans
Seppo Honkapohja
Paul Romer

Growth Cycles
w5658 Roland Benabou
Inequality and Growth
w5656 Timothy Dunne
John Haltiwanger
Kenneth R. Troske

Technology and Jobs: Secular Changes and Cyclical Dynamics
t0198 James H. Stock
Jonathan Wright

Asymptotics for GMM Estimators with Weak Instruments
w5634 Julio J. Rotemberg
Michael Woodford

Imperfect Competition and the Effects of Energy Price Increases on Economic Activity
w5624 Julio J. Rotemberg
Perceptions of Equity and the Distribution of Income
w5610 John Y. Campbell
Consumption and the Stock Market: Interpreting International Experience
w5607 N. Gregory Mankiw
James M. Poterba

Stock Market Yields and the Pricing of Municipal Bonds
t0197 Wouter J. Den Haan
Andrew T. Levin

A Practitioner's Guide to Robust Covariance Matrix Estimation
w5600 Frederic S. Mishkin
Understanding Financial Crises: A Developing Country Perspective
w5597 Bennett T. McCallum
Crucial Issues Concerning Central Bank Independence
w5590 Matthew D. Shapiro
David W. Wilcox

Mismeasurement in the Consumer Price Index: An Evaluation
w5587 John Y. Campbell
Robert J. Shiller

A Scorecard for Indexed Government Debt
w5583 Roland Benabou
Unequal Societies
w5579 Bennett T. McCallum
Inflation Targeting in Canada, New Zealand, Sweden, the United Kingdom, and in General
w5575 Christina D. Romer
Inflation and the Growth Rate of Output
w5571 Jagadeesh Gokhale
Laurence J. Kotlikoff
John Sabelhaus

Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis
w5570 Christopher J. Ruhm
Are Recessions Good For Your Health?
w5566 Michael Kremer
How Much Does Sorting Increase Inequality?
w5562 Jess Gaspar
Edward Glaeser

Information Technology and the Future of Cities
t0195 Wouter J. Den Haan
Andrew Levin

Inferences from Parametric and Non-Parametric Covariance Matrix Estimation Procedures
w5553 Wouter J. Den Haan
The Comovements Between Real Activity and Prices at Different Business Cycle Frequencies
w5546 Nobuhiro Kiyotaki
Kenneth D. West

Business Fixed Investment and the Recent Business Cycle in Japan
w5541 V. V. Chari
Lawrence J. Christiano
Martin Eichenbaum

Expectation Traps and Discretion
w5538 David Card
Dean Hyslop

Does Inflation "Grease the Wheels of the Labor Market"?
t0194 Francis X. Diebold
Til Schuermann

Exact Maximum Likelihood Estimation of Observation-Driven Econometric Models
w5520 Laurence Ball
Disinflation and the NAIRU
w5508 Ricardo J. Caballero
John V. Leahy

Fixed Costs: The Demise of Marginal q
w5507 Robert G. King
Alexander L. Wolman

Inflation Targeting in a St. Louis Model of the 21st Century
w5503 Martin Neil Baily
Eric J. Bartelsman
John Haltiwanger

Labor Productivity: Structural Change and Cyclical Dynamics
w5502 Robert J. Barro
Reflections on Ricardian Equivalence
w5482 Antulio N. Bomfim
Francis X. Diebold

Bounded Rationality and Strategic Complementarity in a Macroeconomic Model: Policy Effects, Persistence and Multipliers
w5481 Francis X. Diebold
Abdelhak S. Senhadji

Deterministic vs. Stochastic Trend in U.S. GNP, Yet Again
w5477 Douglas Staiger
James H. Stock
Mark W. Watson

How Precise are Estimates of the Natural Rate of Unemployment?
w5476 Jeffrey A. Frankel
David Romer

Trade and Growth: An Empirical Investigation
t0192 Francis X. Diebold
Jose A. Lopez

Forecast Evaluation and Combination
w5471 Ricardo J. Caballero
Mohamad L. Hammour

The "Fundamental Transformation" in Macroeconomics
w5470 John F. Helliwell
Economic Growth and Social Capital in Asia
w5464 Frederic S. Mishkin
The Channels of Monetary Transmission: Lessons for Monetary Policy
rogo96-1 Kenneth Rogoff and Charles Wyplosz
editors

International Seminar on Macroeconomics 1995
w5447 Gene M. Grossman
Elhanan Helpman

Intergenerational Redistribution with Short-Lived Governments
w5443 Paul M. Romer
Why, indeed, in America? Theory, History, and the Origins of Modern Economic Growth
w5439 Ben S. Bernanke
Kevin Carey

Nominal Wage Stickiness and Aggregate Supply in the Great Depression
w5414 V. V. Chari
Patrick J. Kehoe
Ellen R. McGrattan

The Poverty of Nations: A Quantitative Exploration
w5412 Tianlun Jian
Jeffrey D. Sachs
Andrew M. Warner

Trends in Regional Inequality in China
w5404 Jeffrey D. Sachs
Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences
1995
w5398 Jeffrey D. Sachs
Andrew M. Warner

Natural Resource Abundance and Economic Growth
w5382 Susanto Basu
John G. Fernald

Aggregate Productivity and the Productivity of Aggregates
w5379 Arturo Estrella
Frederic S. Mishkin

Predicting U.S. Recessions: Financial Variables as Leading Indicators
w5363 Andrew B. Abel
Janice C. Eberly

The Effects of Irreversibility and Uncertainty on Capital Accumulation
w5357 Herschel I. Grossman
Minseong Kim

Predation and Accumulation
w5350 Orazio P. Attanasio
James Banks
Costas Meghir
Guglielmo Weber

Humps and Bumps in Lifetime Consumption
w5344 Laurence Ball
Dean Croushore

Expectations and the Effects of Monetary Policy
w5339 Dani Rodrik
Trade Strategy, Investment, and Exports: Another Look at East Asia
w5337 Jordi Gali
Non-Walrasian Unemployment Fluctuations
w5336 Susanto Basu
Procyclical Productivity: Increasing Returns or Cyclical Utilization?
w5327 Robert J. Barro
Optimal Debt Management
w5326 Robert J. Barro
Inflation and Economic Growth
w5292 Lawrence J. Christiano
Jonas Fisher

Tobin's q and Asset Returns: Implications for Business Cycle Analysis
w5291 William A. Brock
Steven N. Durlauf

Discrete Choice with Social Interactions I: Theory
w5286 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Sectoral Solow Residuals
w5282 Orazio P. Attanasio
Consumer Durables and Inertial Behavior: Estimation and Aggregation of (S,s) Rules
w5269 V. V. Chari
Lawrence J. Christiano
Martin Eichenbaum

Inside Money, Outside Money and Short Term Interest Rates
w5263 Laurence Ball
N. Gregory Mankiw

What Do Budget Deficits Do?
w5262 Michele Boldrin
Lawrence J. Christiano
Jonas D.M. Fisher

Asset Pricing Lessons for Modeling Business Cycles
w5261 Albert Ando
Andrea Moro

Demographic Dynamics, Labor Force Participation and Household Asset Accumulation: Case of Japan
w5260 Russell Cooper
John Haltiwanger
Laura Power

Machine Replacement and the Business Cycle: Lumps and Bumps
w5258 Jeffrey A. Miron
J. Joseph Beaulieu

What Have Macroeconomists Learned about Business Cycles from the Study of Seasonal Cycles?
w5254 Robert J. Shiller
Ryan Schneider

Labor Income Indices Designed for Use in Contracts Promoting Income Risk Management
w5227 Andrew B. Abel
Avinash K. Dixit
Janice C. Eberly
Robert S. Pindyck

Options, the Value of Capital, and Investment
w5217 Jeremy C. Stein
An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy
w5216 William H. Dow
Jessica Holmes
Tomas Philipson
Xavier Sala-i-Martin

Disease Complementarities and the Evaluation of Public Health Interventions
w5213 Robert B. Barsky
Miles S. Kimball
F. Thomas Juster
Matthew D. Shapiro

Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Survey
w5211 Alwyn Young
Growth Without Scale Effects
w5207 Jonathan Eaton
Samuel Kortum

Engines of Growth: Domestic and Foreign Sources of Innovation
w5205 Larry E. Jones
Rodolfo E. Manuelli

A Positive Model of Growth and Pollution Controls
w5204 Michael Woodford
Price Level Determinacy Without Control of a Monetary Aggregate
w5198 Ricardo J. Caballero
Mohamad L. Hammour

On the Ills of Adjustment
w5197 Sergio Rebelo
Carlos A. Vegh

Real Effects of Exchange Rate-Based Stabilization: An Analysis of Competing Theories
w5194 Christopher D. Carroll
Andrew A. Samwick

How Important is Precautionary Saving?
w5193 Christopher D. Carroll
Andrew A. Samwick

The Nature of Precautionary Wealth
w5186 Daniel Feenberg
Jeffrey A. Miron

Improving the Accessibility of the NBER's Historical Data
w5163 David M. Cutler
Edward L. Glaeser

Are Ghettos Good or Bad?
w5154 John H. Cochrane
What do the VARs Mean?: Measuring the Output Effects of Monetary Policy
w5151 Robert J. Barro
Xavier Sala-i-Martin

Technological Diffusion, Convergence, and Growth
w5146 Ben S. Bernanke
Mark Gertler

Inside the Black Box: The Credit Channel of Monetary Policy Transmission
w5135 Assaf Razin
Chi-Wa Yuen

Factor Mobility and Income Growth: Two Convergence Hypotheses
w5130 Russell Cooper
Joao Ejarque

Financial Intermediation and The Great Depression: A Multiple Equilibrium Interpretation
w5126 Orazio P. Attanasio
Hilary W. Hoynes

Differential Mortality and Wealth Accumulation
w5125 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Capital Utilization and Returns to Scale
w5122 Robert C. Feenstra
Gordon H. Hanson

Foreign Direct Investment and Relative Wages: Evidence from Mexico's Maquiladoras
w5109 Herschel I. Grossman
American Fiscal Policy in the 1990's
w5091 Andrew B. Abel
Janice C. Eberly

Optimal Investment with Costly Reversibility
w5083 Nobuhiro Kiyotaki
John Moore

Credit Cycles
w5081 Robert J. Gordon
Is There a Tradeoff between Unemployment and Productivity Growth?
w5080 Frederic S. Mishkin
John Simon

An Empirical Examination of the Fisher Effect in Australia
w5075 Bennett T. McCallum
Two Fallacies Concerning Central Bank Independence
w5073 Susanto Basu
John G. Fernald

Are Apparent Productive Spillovers a Figment of Specification Error?
w5060 Jong-Wha Lee
Government Interventions and Productivity Growth in Korean ManufacturingIndustries
w5059 Theofanis P. Mamuneas
M. Ishaq Nadiri

Public R&D Policies and Cost Behavior of the US Manufacturing Industries
w5057 Eduardo Borensztein
Jose De Gregorio
Jong-Wha Lee

How Does Foreign Direct Investment Affect Economic Growth?
w5056 Kyle Bagwell
Robert W. Staiger

Collusion over the Business Cycle
w5049 Jonathan Eaton
Samuel Kortum

Trade in Ideas: Patenting and Productivity in the OECD
t0177 Lawrence J. Christiano
Wouter J. Den Haan

Small Sample Properties of GMM for Business Cycle Analysis
t0176 Kenneth D. West
David W. Wilcox

A Comparison of Alternative Instruments Variables Estimators of a Dynamic Linear Model
w5046 Miles S. Kimball
The Quantitative Analytics of the Basic Neomonetarist Model
w5043 Frederic S. Mishkin
The Rational Expectations Revolution: A Review Article of: Preston J. Miller, ed.:The Rational Expectations Revolution, Readings from the Front Line
w5042 Ricardo J. Caballero
Eduardo M.R.A. Engel
John Haltiwanger

Aggregate Employment Dynamics: Building From Microeconomic Evidence
w5039 Jeffrey D. Sachs
Andrew M. Warner

Economic Convergence and Economic Policies
w5033 Fumio Hayashi
Is the Japanese Extended Family Altruistically Linked? A Test based on Engel Curves
w5026 Edward L. Glaeser
Bruce Sacerdote
Jose A. Scheinkman

Crime and Social Interactions
w5025 Marianne Baxter
International Trade and Business Cycles
w5022 Marianne Baxter
Robert G. King

Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series
w5018 Casey B. Mulligan
Xavier Sala-i-Martin

A Labor-Income-Based Measure of the Value of Human Capital: An Application to the States of the United States
w5016 Casey B. Mulligan
Xavier Sala-i-Martin

Measuring Aggregate Human Capital
w5015 Laurence Ball
Douglas W. Elmendorf
N. Gregory Mankiw

The Deficit Gamble
w5013 Edward L. Glaeser
Jose A. Scheinkman
Andrei Shleifer

Economic Growth in a Cross-Section of Cities
w5011 Stephen G. Cecchetti
Anil K. Kashyap
David W. Wilcox

Do Firms Smooth the Seasonal in Production in a Boom? Theory and Evidence
t0174 Francis X. Diebold
Lee E. Ohanian
Jeremy Berkowitz

Dynamic Equilibrium Economies: A Framework for Comparing Models and Data
t0173 Francis X. Diebold
Jose A. Lopez

Measuring Volatility Dynamics
t0144 Kenneth D. West
Whitney K. Newey

Automatic Lag Selection in Covariance Matrix Estimation
w4995 John Y. Campbell
John H. Cochrane

By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior
w4987 Edward L. Glaeser
The Incentive Effects of Property Taxes on Local Governments
w4986 John V. Leahy
Toni M. Whited

The Effect of Uncertainty on Investment: Some Stylized Facts
t0120 Maurice Obstfeld
Evaluating Risky Consumption Paths: The Role of Intertemporal Substitutability
1994
w4973 James E. Rauch
Bureaucracy, Infrastructure, and Economic Growth: Evidence from U.S. Cities During the Progressive Era
w4964 Dani Rodrik
Getting Interventions Right: How South Korea and Taiwan Grew Rich
w4959 Garey Ramey
Valerie A. Ramey

Cross-Country Evidence on the Link Between Volatility and Growth
w4954 Edward L. Glaeser
Jose A. Scheinkman

Neither a Borrower nor a Lender Be: An Economic Analysis of Interest Restrictions and Usury Laws
w4948 Julio J. Rotemberg
Prices, Output and Hours: An Empirical Analysis Based on a Sticky Price Model
t0171 Michael T. K. Horvath
Mark W. Watson

Testing for Cointegration When Some of the Contributing Vectors are Known
w4938 Bennett T. McCallum
Monetary Policy and the Term Structure of Interest Rates
w4935 Charles W. Calomiris
Christopher Hanes

Historical Macroeconomics and American Macroeconomic History
w4931 Jonathan Eaton
Samuel Kortum

International Patenting and Technology Diffusion
t0169 Francis X. Diebold
Robert S. Mariano

Comparing Predictive Accuracy
w4909 Robert J. Barro
Democracy & Growth
w4889 Mark Hooker
Michael Knetter

Unemployment Effects of Military Spending: Evidence from a Panel of States
w4888 James H. Stock
Martin Feldstein

Measuring Money Growth When Financial Markets Are Changing
w4887 Ricardo J. Caballero
Eduardo M.R.A. Engel

Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach
t0167 Peter F. Christoffersen
Francis X. Diebold

Optimal Prediction Under Asymmetric Loss
h0060 Alan M. Taylor
Three Phases of Argentine Economic Growth
t0165 Eugene Canjels
Mark W. Watson

Estimating Deterministic Trends in the Presence of Serially Correlated Errors
t0164 James H. Stock
Mark W. Watson

Evidence on Structural Instability in Macroeconomic Time Series Relations
w4840 Glenn Ellison
Edward L. Glaeser

Geographic Concentration in U.S. Manufacturing Industries: A Dartboard Approach
w4833 Andrew Atkeson
Patrick J. Kehoe

Models of Energy Use: Putty-Putty versus Putty-Clay
w4827 Michael Kremer
Jim Thomson

Young Workers, Old Workers, and Convergence
w4819 Russell Cooper
Joao Ejarque

Financial Intermediation and Aggregate Fluctuations: A Quantative Analysis
w4814 Ben S. Bernanke
The Macroeconomics of the Great Depression: A Comparative Approach
w4811 Orazio P. Attanasio
The Intertemporal Allocation of Consumption: Theory and Evidence
w4795 Orazio P. Attanasio
Guglielmo Weber

Is Consumption Growth Consistent with Intertemporal Optimization? Evidence from the Consumer Expenditure Survey
w4771 Orazio Attanasio
Steven J. Davis

Relative Wage Movements and the Distribution of Consumption
w4768 Ricardo J. Caballero
Mohamad L. Hammour

On the Timing and Efficiency of Creative Destruction
w4766 Andrew Caplin
John Leahy

Mass Layoffs and Unemployment
w4765 Christina D. Romer
David H. Romer

What Ends Recessions?
w4761 Eric M. Leeper
Christopher A. Sims

Toward a Modern Macroeconomic Model Usable for Policy Analysis
t0159 Andrew B. Bernard
Steven N. Durlauf

Interpreting Tests of the Convergence Hypothesis
w4752 Dan Ben-David
David H. Papell

The Great Wars, The Great Crash, and the Unit Root Hypothesis: Some New Evidence About an Old Stylized Fact
w4741 Martin Neil Baily
Eric J. Bartelsman
John Haltiwanger

Downsizing and Productivity Growth: Myth or Reality?
w4736 Philippe Aghion
Olivier Jean Blanchard

On the Speed of Transition Central Europe
w4735 William Easterly
Stanley Fischer

The Soviet Economic Decline: Historical and Republican Data
w4728 Edward L. Glaeser
David C. Mare

Cities and Skills
w4726 John Baldwin
Timothy Dunne
John Haltiwanger

A Comparison of Job Creation and Job Destruction in Canada and the United States
t0155 Craig Burnside
Martin Eichenbaum

Small Sample Properties of Generalized Method of Moments Based Wald Tests
w4725 Jong-Wha Lee
Capital Goods Imports and Long-Run Growth
w4719 Andrew Atkeson
Christopher Phelan

Reconsidering the Costs of Business Cycles with Incomplete Markets
w4715 Alberto F. Ades
Edward L. Glaeser

Trade and Circuses: Explaining Urban Giants
w4714 Alberto F. Ades
Edward L. Glaeser

Evidence on Growth, Increasing Returns and the Extent of the Market
w4709 Alan J. Auerbach
The U.S. Fiscal Problem: Where We Are, How We Got Here and Where We're Going
w4706 Bennett T. McCallum
A Semi-Classical Model of Price Level Adjustment
w4699 Lawrence J. Christiano
Martin Eichenbaum
Charles Evans

The Effects of Monetary Policy Shocks: Some Evidence from the Flow of Funds
w4698 John H. Cochrane
Shocks
w4687 Andrew Caplin
John Leahy

The Economics of Adjustment
w4681 William Easterly
Robert King
Ross Levine
Sergio Rebelo

Policy, Technology Adoption, and Growth
w4680 Alwyn Young
The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience
w4677 Laurence Ball
N. Gregory Mankiw

A Sticky-Price Manifesto
w4675 Craig Burnside
Martin Eichenbaum

Factor Hoarding and the Propagation of Business Cycles Shocks
w4650 Julio J. Rotemberg
Michael Woodford

Is the Business Cycles a Necessary Consequence of Stochastic Growth?
w4643 Francis X. Diebold
Glenn D. Rudebusch

Measuring Business Cycles: A Modern Perspective
w4638 Robert W. Fogel
Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy
w4610 Robert J. Barro
Xavier Sala-i-Martin

Quality Improvements in Models of Growth
1993
w4603 Philippe Aghion
Gilles Saint-Paul

Uncovering Some Causal Relationships between Productivity Growth and the Structure of Economic Fluctuations: A Tentative Survey
w4578 Laurence Ball
The Dynamics of High Inflation
w4577 Russell Cooper
John Haltiwanger

Evidence on Macroeconomic Complementarities
w4576 Julio J. Rotemberg
Michael Woodford

Energy Taxes and Aggregate Economic Activity
w4569 Albert Ando
Luigi Guiso
Daniele Terlizzese

Dissaving by the Elderly, Transfer Motives and Liquidity Constraints
w4568 Albert Ando
Flint Brayton

Prices, Wages, and Employment in the U.S. Economy: A Traditional Model and Tests of Some Alternatives
w4565 Stanley Fischer
The Role of Macroeconomic Factors in Growth
w4562 Satyajit Chatterjee
Russell Cooper

Entry and Exit, Product Variety and the Business Cycle
w4550 Oded Galor
David N. Weil

The Gender Gap, Fertility, and Growth
w4531 Andrew Caplin
Charles Freeman
Joseph Tracy

Collateral Damage: How Refinancing Constraints Exacerbate Regional Recessions
w4529 Robert F. Engle
Joao Victor Issler

Estimating Sectoral Cycles Using Cointegration and Common Features
w4527 Gene M. Grossman
Elhanan Helpman

Endogenous Innovation in the Theory of Growth
w4523 Larry E. Jones
Rodolfo E. Manuelli

Growth and the Effects of Inflation
w4516 R. Glenn Hubbard
Jonathan Skinner
Stephen P. Zeldes

The Importance of Precautionary Motives in Explaining Individual and Aggregate Saving
w4502 Julio J. Rotemberg
Michael Woodford

Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets
w4499 William Easterly
Sergio Rebelo

Fiscal Policy and Economic Growth: An Empirical Investigation
w4492 Steven J. Davis
John Haltiwanger
Scott Schuh

Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts
w4490 V. V. Chari
Lawrence J. Christiano
Patrick J. Kehoe

Optimal Fiscal Policy in a Business Cycle Model
w4487 Steven N. Durlauf
Louis J. Maccini

Measuring Noise in Inventory Models
w4485 Christina D. Romer
David H. Romer

Credit Channel or Credit Actions? An Interpretation of the Postwar Transmission Mechanism
w4482 Alwyn Young
Lessons from the East Asian NICs: A Contrarian View
t0145 Lars Peter Hansen
John Heaton
Erzo G.J. Luttmer

Econometric Evaluation of Asset Pricing Models
w4474 William Easterly
Michael Kremer
Lant Pritchett
Lawrence H. Summers

Good Policy or Good Luck? Country Growth Performance and Temporary Shocks
w4472 Giuseppe Bertola
Ricardo J. Caballero

Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment
w4470 Christopher D. Carroll
David N. Weil

Saving and Growth: A Reinterpretation
w4455 Boyan Jovanovic
Saul Lach

Diffusion Lags and Aggregate Fluctuations. New Name: Product Innovation and the Business Cycle.
w4454 Orazio P. Attanasio
A Cohort Analysis of Saving Behavior by U.S. Households
w4453 Orazio P. Attanasio
Martin Browning

Consumption over the Life Cycle and over the Business Cycle
w4452 Paul M. Romer
New Goods, Old Theory, and the Welfare Costs of Trade Restrictions
w4449 Bennett T. McCallum
Specification and Analysis of a Monetary Policy Rule for Japan
t0143 Kenneth D. West
Inventory Models
w4443 V. V. Chari
Lawrence J. Christiano
Patrick J. Kehoe

Optimality of the Friedman Rule in Economies with Distorting Taxes
w4439 Robert E. Hall
N. Gregory Mankiw

Nominal Income Targeting
w4433 Magnus Blomstrom
Edward N. Wolff

Growth in a Dual Economy
w4426 Nancy L. Stokey
Sergio Rebelo

Growth Effects of Flat-Rate Taxes
w4411 Andrew Atkeson
Patrick J. Kehoe

Social Insurance and Transition
w4405 Alan J. Auerbach
Kevin A. Hassett
Stephen D. Oliner

Reassessing the Social Returns to Equipment Investment
w4403 Sherwin Rosen
Kevin M. Murphy
Jose A. Scheinkman

Cattle Cycles
w4396 Robert J. Shiller
Aggregate Income Risks and Hedging Mechanisms
t0139 Kenneth D. West
David W. Wilcox

Some Evidence on Finite Sample Behavior of an Instrumental Variables Estimator of the Linear Quadtratic Inventory Model
w4383 Michael W. Klein
Timing is All: Elections and the Duration of United States Business Cycles
w4381 Andrew Atkeson
Robert E. Lucas
Jr.

Effciency and Equality in a Simple Model of Unemployment Insurance
w4380 Robert S. Pindyck
Andres Solimano

Economic Instability and Aggregate Investment
h0048 Jeffrey G
Williamson
Kevin O'Rourke
Timothy J. Hatton

Mass Migration, Commodity Market Integration and Real Wage Convergence: The Late Nineteenth Century Atlantic Economy
w4372 Andrei Shleifer
Robert W. Vishny

Corruption
w4370 Ricardo J. Caballero
Adam B. Jaffe

How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth
w4368 Bennett T. McCallum
Unit Roots in Macroeconomic Time Series: Some Critical Issues
w4367 Bennett T. McCallum
Macroeconomics After Two Decades of Rational Expectations
w4363 Antonio Ciccone
Kiminori Matsuyama

Start-Up Costs and Pecuniary Externalities as Barriers to Economic Development
w4362 Willem H. Buiter
Public Debt in the USA: How Much, How Bad and Who Pays?
w4357 Barry Nalebuff
Andres Rodriguez
Joseph E. Stiglitz

Equilibrium Unemployment as a Worker Screening Device
w4354 Aaron Tornell
Economic Growth and Decline with Endogenous Property Rights
t0135 Roland Benabou
Jerzy Konieczny

On Inflation and Output with Costly Price Changes: A Simple Unifying Result
w4349 Robert J. Barro
Jong-Wha Lee

International Comparisons of Educational Attainment
w4344 Matthew D. Shapiro
Joel Slemrod

Consumer Response to the Timing of Income: Evidence from a Change in Tax Withholding
w4342 Matthew D. Shapiro
Federal Reserve Policy: Cause and Effect
w4341 Robert J. Barro
Jong-Wha Lee

Losers and Winners in Economic Growth
w4336 Assaf Razin
Chi-Wa Yuen

Convergence in Growth Rates: A Quantitative Assessment of the Role of Capital Mobility and International Taxation
w4328 Angus Deaton
Christina Paxson

Intertemporal Choice and Inequality
w4325 Martin Feldstein
The Dollar and the Trade Deficit in the 1980s: A Personal View
w4324 Martin Feldstein
Government Spending and Budget Deficits in the 1980s: A Personal View
w4322 Martin Feldstein
Monetary Policy and Inflation in the 1980s: A Personal View
w4318 Stephen A. O'Connell
Stephen P. Zeldes

Dynamic Efficiency in the Gifts Economy
w4313 Antonio Ciccone
Robert E. Hall

Productivity and the Density of Economic Activity
w4312 James E. Rauch
Does History Matter Only When it Matters Little? The Case of City-Indu try Location
w4311 Roland Benabou
Heterogeneity, Stratification, and Growth
w4306 Laurence Ball
What Determines the Sacrifice Ratio?
w4304 Martin Feldstein
James H. Stock

The Use of Monetary Aggregate to Target Nominal GDP
w4296 Andrew B. Abel
Janice C. Eberly

A Unified Model of Investment Under Uncertainty
w4292 Wolfgang Franz
Robert J. Gordon

German and American Wage and Price Dynamics: Differences and Common Thenes
w4286 Joseph E. Stiglitz
Endogenous Growth and Cycles
w4285 Valerie A. Ramey
How Important is the Credit Channel in the Transmission of Monetary Policy?
w4275 Toru Konishi
Valerie A. Ramey
Clive W.J. Granger

Stochastic Trends and Short-Run Relationships Between Financial Variables and Real Activity
w4274 J. Bradford De Long
Andrei Shleifer

Princes and Merchants: European City Growth before the Industrial Revolution
w4270 James A. Brander
Steve Dowrick

The Role of Fertility and Population in Economic Growth: Empirical ResultsFrom Aggregate Cross-National Data
w4267 Laurence Ball
David Romer

Inflation and the Informativeness of Prices
w4256 Alwyn Young
Substitution and Complementarity in Endogenous Innovation
w4250 Robert E. Lucas
Jr.
Michael Woodford

Real Effects of Monetary Shocks in an Economy with Sequential Purchases
w4249 John Heaton
Deborah Lucas

Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing
1992
w4241 Peter Bak
Kan Chen
Jose Scheinkman
Michael Woodford

Aggregate Fluctuations from Independent Sectoral Shocks: Self-Organized Criticality in a Model of Production and Inventory Dynamics
w4226 John F. Helliwell
Trade and Technical Progress
w4223 Eric M. Engen
Jonathan Skinner

Fiscal Policy and Economic Growth
t0130 Graham Elliott
Thomas J. Rothenberg
James H. Stock

Efficient Tests for an Autoregressive Unit Root
w4220 Willem H. Buiter
Kenneth M. Kletzer

Permanent International Productivity Growth Differentials in an Integrated Global Economy
w4214 Assaf Razin
Chi-Wa Yuen

Convergence in Growth Rates: The Role of Capital Mobility and International Taxation
w4206 Robert J. Barro
N. Gregory Mankiw
Xavier Sala-i-Martin

Capital Mobility in Neoclassical Models of Growth
w4202 Gary Solon
Robert Barsky
Jonathan A. Parker

Measuring the Cyclicality of Real Wages: How Important is Composition Bias
w4188 John Y. Campbell
Inspecting the Mechanism: An Analytical Approach to the Stochastic Growth Model
w4186 Xavier Sala-i-Martin
Transfers
w4178 J. Vernon Henderson
Ari Kuncoro
Matthew Turner

Industrial Development in Cities
w4173 Alberto Alesina
Sule Ozler
Nouriel Roubini
Phillip Swagel

Political Instability and Economic Growth
w4168 Laurence Ball
N. Gregory Mankiw

Relative-Price Changes as Aggregate Supply Shocks
w4162 Ricardo J. Caballero
Eduardo M.R.A. Engel

Microeconomic Rigidities and Aggregate Price Dynamics
w4161 Frank R. Lichtenberg
R&D Investment and International Productivity Differences
w4160 Ricardo J. Caballero
Robert S. Pindyck

Uncertainty, Investment, and Industry Evolution
w4156 Robert King
Mark W. Watson

Testing Long Run Neutrality
w4150 Christina D. Romer
Remeasuring Business Cycles
w4132 Magnus Blomstrom
Robert E. Lipsey
Mario Zejan

What Explains Developing Country Growth?
w4130 Mark Bils
Kenneth J. McLaughlin

Inter-Industry Mobility and the Cyclical Upgrading of Labor
t0126 J. Joseph Beaulieu
Jeffrey A. Miron

Seasonal Unit Roots in Aggregate U.S. Data
w4105 Timothy F. Bresnahan
Valerie A. Ramey

Output Fluctuations at the Plant Level
w4100 Russell Cooper
John Haltiwanger

Autos and the National Industrial Recovery Act: Evidence on Industry Complementarities
w4093 Maurice Obstfeld
Risk-Taking, Global Diversification, and Growth
w4091 Ricardo J. Caballero
Eduardo M.R.A. Engel

Price Rigidities, Asymmetries, and Output Fluctuations
w4090 Ricardo J. Caballero
Eduardo M.R.A. Engel

Microeconomic Adjustment Hazards and Aggregate Dynamics
w4089 Laurence Ball
N. Gregory Mankiw

Asymmetric Price Adjustment and Economic Fluctuations
w4088 John H. Cochrane
Lars Peter Hansen

Asset Pricing Explorations for Macroeconomics
w4085 Steven J. Davis
Cross-Country Patterns of Change in Relative Wages
w4082 Ben Bernanke
Frederic Mishkin

Central Bank Behavior and the Strategy of Monetary Policy: Observations From Six Industrialized Countries
w4077 Stanley Fischer
Russia and the Soviet Union Then and Now
w4066 John F. Helliwell
Empirical Linkages Between Democracy and Economic Growth
w4062 Nouriel Roubini
Xavier Sala-i-Martin

A Growth Model of Inflation, Tax Evasion, and Financial Repression
w4056 Steven N. Durlauf
A Theory of Persistent Income Inequality
w4045 Richard E. Baldwin
On the Growth Effects of Import Competition
t0090 Steven N. Durlauf
Spectral Based Testing of the Martingale Hypothesis
w4038 Robert J. Barro
Xavier Sala-i-Martin

Regional Growth and Migration: A Japan-U.S. Comparison
w4035 Ricardo J. Caballero
Near-Rationality, Heterogeneity and Aggregate Consumption
w4031 Bruce Russett
Joel Slemrod

Diminished Expectations of Nuclear War and Increased Personal Savings: Evidence From Individual Survey Data
w4022 Benjamin M. Friedman
Learning From the Reagan Deficits
w4014 James H. Stock
Mark W. Watson

A Procedure for Predicting Recessions With Leading Indicators: Econometric Issues and Recent Experience
w4005 Mark W. Watson
Business Cycle Durations and Postwar Stabilization of the U.S. Economy
w4004 Noriyuki Yanagawa
Gene M. Grossman

Asset Bubbles and Endogenous Growth
w4000 Olivier Jean Blanchard
Peter Diamond

The Flow Approach to Labor Markets
w3996 Steven N. Durlauf
Paul A. Johnson

Local Versus Global Convergence Across National Economies
w3992 Olivier Jean Blanchard
Philippe Weil

Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty
w3990 Ray C. Fair
The Cowles Commission Approach, Real Business Cycle Theories, and New Keynesian Economics
w3989 John Y. Campbell
Intertemporal Asset Pricing Without Consumption Data
w3986 Casey B. Mulligan
Xavier Sala-i-Martin

Transitional Dynamics in Two-Sector Models of Endogenous Growth
w3983 Laurence Ball
Disinflation With Imperfect Credibility
h0036 Jeffrey G. Williamson
The Evolution of Global Labor Markets Since 1830 Background Evidence and Hypotheses
w3966 Martin Feldstein
The Budget and Trade Deficits Aren't Really Twins
w3974 Lawrence J. Christiano
Martin Eichenbaum

Liquidity Effects and the Monetary Transmission Mechanism
w3969 Robert J. Gordon
Measuring the Aggregate Price Level: Implications For Economic Performance and Policy
w3948 John F. Helliwell
Alan Chung

Convergence and Growth Linkages Between North and South
1991
w3944 Alessandro Missale
Olivier Jean Blanchard

The Debt Burden and Debt Maturity
w3936 David Romer
Openness and Inflation: Theory and Evidence
w3922 Ricardo J. Caballero
Mohamad L. Hammour

The Cleansing Effect of Recessions
w3921 Russell Cooper
Thomas W. Ross

Bank Runs: Liquidity and Incentives
w3920 Lawrence J. Christiano
Martin Eichenbaum

Identification and the Liquidity Effect of a Monetary Policy Shock
w3907 Eun Young Chah
Valerie A. Ramey
Ross M. Starr

Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods
w3905 James E. Rauch
Productivity Gains From Geographic Concentration of human Capital: Evidence From the Cities
w3903 J. Bradford De Long
Productivity and Machinery Investment: A Long Run Look 1870-1980
w3896 Rudiger Dornbusch
Stanley Fischer

Moderate Inflation
t0116 Casey B. Mulligan
Xavier Sala-i-Martin

A Note on the Time-Elimination Method For Solving Recursive Dynamic Economic Models
w3885 N. Gregory Mankiw
The Reincarnation of Keynesian Economics
w3876 Nouriel Roubini
Xavier Sala-i-Martin

Financial Repression and Economic Growth
w3869 Elhanan Helpman
Endogenous Macroeconomic Growth Theory
w3867 Victor Zarnowitz
Has Macro-Forecasting Failed?
w3866 Giuseppe Bertola
Labor Turnover Costs and Average Labor Demand
w3865 Giuseppe Bertola
Ricardo J. Caballero

Irreversibility and Aggregate Investment
w3864 Giuseppe Bertola
Flexibility, Investment, and Growth
w3863 Victor Zarnowitz
What is a Business Cycle?
t0078 Ray C. Fair
John B. Taylor

Full Information Estimation and Stochastic Simulation of Models with Rational Expectations
r1645 John Y. Campbell
N. Gregory Mankiw

The Response of Consumption to Income
w3851 Giuseppe Bertola
Factor Shares and Savings in Endogenous Growth
w3849 Robert J. Barro
World Interest Rates and Investment
w3844 Giuseppe Bertola
Allan Drazen

Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity
w3834 Fumio Hayashi
Joseph Altonji
Laurence Kotlikoff

Risk-Sharing, Altruism, and the Factor Structure of Consumption
w3833 Roland Benabou
Robert Gertner

The Informativeness of Prices: Search With Learning and Cost Uncertainty
w3829 Christina D. Romer
What Ended the Great Depression?
w3810 Eric J. Bartelsman
Ricardo J. Caballero
Richard K. Lyons

Short and Long Run Externalities
w3802 Marjorie A. Flavin
The Joint Consumption/Asset Demand Decision: A Case Study in Robust Estimation
t0111 Ray C. Fair
Estimating Event Probabilities from Macroeconomic Models Using Stochastic Simulation
w3787 Edward L. Glaeser
Hedi D. Kallal
Jose A. Scheinkman
Andrei Shleifer

Growth in Cities
w3786 Dennis W. Carlton
The Theory of Allocation and Its Implications for Marketing and Industrial Structure
w3763 Kenneth D. West
Sources of Cycles in Japan, 1975-1987
w3762 Kenneth D. West
A Comparison of the Behavior of Japanese and U.S. Inventories
w3756 Valerie A. Ramey
The Source of Fluctuations in Money: Evidence From Trade Credit
w3755 Garey Ramey
Valerie A. Ramey

Technology Commitment and the Cost of Economic Fluctuations
w3748 Ricardo J. Caballero
Durable Goods: An Explanation for Their Slow Adjustment
w3738 Leonardo Leiderman
Assaf Razin

Determinants of External Imbalances: The Role Taxes, Government Spending and Productivity
w3735 Ricardo J. Caballero
A Fallacy of Composition
w3734 Ricardo J. Caballero
Eduardo M.R.A. Engel

Dynamic (S,s) Economies
w3733 Stephen L. Parente
Edward C. Prescott

Technology Adoption and Growth
w3732 Boyan Jovanovic
Saul Lach

The Diffusion of Technology and Inequality Among Nations
w3729 Ricardo J. Caballero
Eduardo M.R.A. Engel

Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
w3728 Steve J. Davis
John Haltiwanger

Gross Job Creation, Gross Job Destruction and Employment Reallocation
w3726 John Dagsvik
Boyan Jovanovic

Was the Great Depression a Low-Level Equilibrium?
t0106 Danny Quah
The Relative Importance of Permanent and Transitory Components: Identi- fication and Some Theoretical Bounds
w3720 Laurence Ball
Externalities from Labor Mobility
w3719 Steven N. Durlauf
Nonergodic Economic Growth
w3718 Steven N. Durlauf
Path Dependence in Aggregate Output
w3717 Andrew B. Bernard
Steven N. Durlauf

Convergence of International Output Movements
w3712 Alwyn Young
Invention and Bounded Learning by Doing
w3706 Dan Ben-David
Equalizing Exchange: A Study of the Effects of Trade Liberalization
w3702 Stanley Fischer
Growth, Macroeconomics, and Development
t0105 James H. Stock
Confidence Intervals for the Largest Autoresgressive Root in U.S. Macroeconomic Time Series
w3690 Robert Dekle
Lawrence H. Summers

Japan's High Saving Rate Reaffirmed
w3686 Herschel I. Grossman
Monetary Economics: A Review Essay
t0100 John Y. Campbell
Pierre Perron

Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots
w3668 Alberto Alesina
Dani Rodrik

Distributive Politics and Economic Growth
w3664 Olivier Jean Blanchard
Wage Bargaining and Unemployment Persistence
w3646 Alan S. Blinder
Why are Prices Sticky? Preliminary Results from an Interview Study
r1547 Olivier Blanchard
Jean-Claude Chouraqui
Robert P. Hagemann
Nicola Sartor

The Sustainability of Fiscal Policy: New Answers to an Old Question
w3635 J. Joseph Beaulieu
Jeffrey K. MacKie-Mason
Jeffrey A. Miron

Why Do Countries and Industries with Large Seasonal Cycles Also Have Large Business Cycles?
w3629 Steven N. Durlauf
Multiple Equilibria and Persistence in Aggregate Fluctuations
w3621 Laurence Ball
The Genesis of Inflation and the Costs of Disinflation
r1523 Martin Neil Baily
Charles L. Schultze

The Productivity of Capital in a Period of Slower Growth
r1522 Laurence Ball
Stephen G. Cecchetti

Inflation and Uncertainty at Short and Long Horizons
r1513 Robert J. Gordon
What Is New-Keynesian Economics?
r1500 Christina D. Romer
David H. Romer

New Evidence on the Monetary Transmission Mechanism
w3606 Kiminori Matsuyama
Agricultural Productivity, Comparative Advantage and Economic Growth
w3599 Torsten Persson
Guido Tabellini

Is Inequality Harmful for Growth? Theory and Evidence
w3595 Stanley Fischer
Money, Interest and Prices
w3594 Luis A. Rivera-Batiz
Paul M. Romer

International Trade with Endogenous Technological Change
w3591 John H. Cochrane
Volatility Tests and Efficient Markets: A Review Essay
w3589 Alan J. Auerbach
Jagadeesh Gokhale
Laurence J. Kotlikoff

Generational Accounts - A Meaningful Alternative to Deficit Accounting
w3580 Joseph E. Stiglitz
Methodological Issues and the New Keynesian Economics
w3577 Alwyn Young
Learning by Doing and the Dynamic Effects of International Trade
r1496 Paul Romer
Capital, Labor, and Productivity
r1489 Danny Quah
Permanent and Transitory Movements in Labor Income: An Explanation for "Excess Smoothness" in Consumption
r1478 Robert J. Gordon
The Role of Wages in the Inflation Process
hult91-1 Charles R. Hulten
editor

Productivity Growth in Japan and the United States
1990
w3545 Anne O. Krueger
David Orsmond

Impact of Government on Growth and Trade
w3534 Julio J. Rotemberg
Michael Woodford

Cyclical Markups: Theories and Evidence
w3530 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

The Allocation of Talent: Implications for Growth
w3529 Laurence M. Ball
Time-Consistent Policy and Persistent Changes in Inflation
w3528 Luis A. Rivera-Batiz
Paul M. Romer

Economic Integration and Endogenous Growth
w3564 Xavier Sala-i-Martin
Lecture Notes on Economic Growth(II): Five Prototype Models of Endogenous Growth
w3563 Xavier Sala-i-Martin
Lecture Notes on Economic Growth(I): Introduction to the Literature and Neoclassical Models
w3556 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

Labor Hoarding and the Business Cycle
w3555 Laurence Ball
Credible Disinflation with Staggered Price Setting
w3552 Russell Cooper
John Haltiwanger

The Aggregate Implications of Machine Replacement: Theory and Evidence
w3541 N. Gregory Mankiw
David Romer
David N. Weil

A Contribution to the Empirics of Economic Growth
w3533 Bruce C. Greenwald
Joseph E. Stiglitz

Macroeconomic Models with Equity and Credit Rationing
w3510 Anindya Banerjee
Robin L. Lumsdaine
James H. Stock

Recursive and Sequential Tests of the Unit Root and Trend Break Hypothesis: Theory and International Evidence
w3522 Jeffrey A. Miron
The Economics of Seasonal Cycles
w3521 Michael J. Boskin
Lawrence J. Lau

Post-War Economic Growth in the Group-of-Five Countries: A New Analysis
w3515 J. Bradford De Long
Lawrence H. Summers

Equipment Investment and Economic Growth
t0093 Joseph Stiglitz
Andrew Weiss

Sorting Out the Differences Between Signaling and Screening Models
w3503 Ben S. Bernanke
Martin L. Parkinson

Procyclical Labor Productivity and Competing Theories of the Business Cycle: Some Evidence from Interwar U.S. Manufacturing Industries
w3495 Mark Gertler
R. Glenn Hubbard
Anil Kashyap

Interest Rate Spreads, Credit Constraints, and Investment Fluctuations: An Empirical Investigation
w3488 Ben Bernanke
Harold James

The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison
w3487 Ben Bernanke
The Federal Funds Rate and the Channels of Monetary Transnission
w3486 Ben Bernanke
On the Predictive Power of Interest Rates and Interest Rate Spreads
w3485 Gene M. Grossman
Elhanan Helpman

Trade, Knowledge Spillovers, and Growth
w3479 Lars Peter Hansen
Thomas J. Sargent

Recursive Linear Models of Dynamic Economies
w3469 Larry E. Jones
Rodolfo E. Manuelli

Finite Lifetimes and Growth
w3459 J. Joseph Beaulieu
Jeffrey A. Miron

A Cross Country Comparison of Seasonal Cycles and Business Cycles
r1455 Raaj Kumar Sah
Joseph E. Stiglitz

Sources of Technological Divergence between Developed and Less Developed Economies
w3450 J. Joseph Beaulieu
Jeffrey A. Miron

The Seasonal Cycle in U.S. Manufacturing
w3439 Angus Deaton
Guy Laroque

On The Behavior of Commodity Prices
w3438 Satyajit Chatterjee
Russell Cooper
B. Ravikumar

Participation Dynamics: Sunspots and Cycles
w3432 Martin Eichenbaum
Real Business Cycle Theory: Wisdom or Whimsy?
w3431 Oliver Hart
John Moore

A Theory of Corporate Financial Structure Based on the Seniority of Claims
w3427 John H. Cochrane
Univariate vs. Multivariate Forecasts of GNP Growth and Stock Returns: Evidence and Implications for the Persistence of Shocks, Detrending Methods
w3419 Robert J. Barro
Xavier Sala-i-Martin

Economic Growth and Convergence across The United States
w3414 Gary S. Becker
Kevin M. Murphy
Robert F. Tamura

Human Capital, Fertility, and Economic Growth
w3413 Nancy L. Stokey
Human Capital, Product Quality, And Growth
w3408 Alan S. Blinder
Louis J. Maccini

The Resurgence of Inventory Research: What Have We Learned?
w3402 N. Gregory Mankiw
Stephen P. Zeldes

The Consumption of Stockholders and Non-Stockholders
w3400 Frederic S. Mishkin
Asymmetric Information and Financial Crises: A Historical Perspective
r1424 Robert J. Gordon
Hysteresis in History: Was There Ever a Phillips Curve?
w3394 Lars E.O. Svensson
The Simplest Test of Target Zone Credibility
w3393 Robert J. Gordon
The Phillips Curve Now and Then
w3388 N. Gregory Mankiw
Jeffrey A. Miron

Should The Fed Smooth Interest Rates? The Case of Seasonal Monetary Policy
w3387 Olivier Jean Blanchard
Peter Diamond

Ranking, Unemployment Duration, and Wages
w3385 George A. Akerlof
Andrew K. Rose
Janet L. Yellen

Waiting for Work
w3376 James H. Stock
Mark W. Watson

Business Cycle Properties of Selected U.S. Economic Time Series, 1959-1988
w3362 Robert J. Barro
Xavier Sala-i-Martin

Public Finance in Models of Economic Growth
w3361 Michael Woodford
Self-Fulfilling Expectations and Fluctuations in Aggregate Demand
w3360 Michael Woodford
Equilibrium Models of Endogenous Fluctuations: an Introduction
w3349 David S. Bizer
Steven N. Durlauf

Testing the Positive Theory of Government Finance
t0089 Lars Peter Hansen
Ravi Jagannathan

Implications of Security Market Data for Models of Dynamic Economies
r1405 Olivier Jean Blanchard
Peter Diamond

The Beveridge Curve
w3344 Jess Benhabib
Randall Wright
Richard Rogerson

Homework in Macoreconomics I: Basic Theory (Part I of II)
w3340 Anne O. Krueger
Government Failures in Development
w3339 R. Glenn Hubbard
Anil Kashyap

Internal Net Worth and the Investment Process: An Application to U.S. Agriculture
w3338 Robert G. King
Sergio Rebelo

Public Policy and Economic Growth: Developing Neoclassical Implications
w3330 S. Rao Aiyagari
Lawrence J. Christiano
Martin Eichenbaum

The Output, Employment, and Interest Rate Effects of Government Consumption
w3325 Sergio T. Rebelo
Long Run Policy Analysis and Long Run Growth
w3317 Robert J. Barro
Xavier Sala-i-Martin

World Real Interest Rates
t0087 Darrell Duffie
Kenneth J. Singleton

Simulated Moments Estimation of Markov Models of Asset Prices
w3271 Paul Romer
Are Nonconvexities Important For Understanding Growth?
w3256 N. Gregory Mankiw
A Quick Refresher Course in Macroeconomics
w3243 David M. Cutler
James M. Poterba
Lawrence H. Summers

Speculative Dynamics and the Role of Feedback Traders
w3242 David M. Cutler
James M. Poterba
Lawrence H. Summers

Speculative Dynamics
w3241 Larry E. Jones
Rodolfo Manuelli

A Convex Model of Equilibrium Growth
w3229 Daniel S. Hamermesh
Aggregate Employment Dynamcis and Lumpy Adjustment Costs
w3224 Laurence Ball
Why Does High Inflation Raise Inflation Uncertainty?
w3223 Philippe Aghion
Peter Howitt

A Model of Growth Through Creative Destruction
1989
w3214 William Easterly
Policy Distortions, Size of Government, and Growth
w3212 John H. Cochrane
Using Production Based Asset Pricing to Explain the Behavior of Stock Returns Over the Business Cycle
w3210 Paul Romer
Endogenous Technological Change
w3206 Julio J. Rotemberg
Michael Woodford

Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
w3202 Mark L. Gertler
R. Glenn Hubbard

Taxation, Corporate Capital Structure, and Financial Distress
w3201 Gene M. Grossman
Elhanan Helpman

Quality Ladders and Product Cycles
w3196 Angus Deaton
Saving and Liquidity Constraints
w3190 Jess Benhabib
Boyan Jovanovic

Externalities and Growth Accounting
w3189 Jeremy Greenwood
Boyan Jovanovic

Financial Development, Growth, and the Distribution of Income
t0083 James H. Stock
Mark W. Watson

A Simple MLE of Cointegrating Vectors in Higher Order Integrated Systems
r1332 Matthew D. Shapiro
Assessing the Federal Reserve's Measures of Capacity and Utilization
w3185 Robert G. King
Sergio T. Rebelo

Transitional Dynamics and Economic Growth in the Neoclassical Model
w3175 Olivier Jean Blanchard
Peter A. Diamond

The Aggregate Matching Function
w3173 Paul M. Romer
Human Capital And Growth: Theory and Evidence
w3172 Christina Romer
Jeffrey A. Miron

A New Monthly Index of Industrial Production, 1884-1940
w3168 Olivier Jean Blanchard
Two Tools for Analyzing Unemployment
w3162 Bennett T. McCallum
Could A Monetary Base Rule Have Prevented the Great Depression?
w3158 James M. Boughton
William H. Branson
Alphecca Muttardy

Commodity Prices and Inflation: Evidence From Seven Large Industrial Countries
w3157 John H. Cochrane
Explaining the Variance of Price Dividend Ratios
t0082 James A. Kahn
Steve Landsburg
Alan C. Stockman

The Positive Economics of Methodology
w3152 Assaf Razin
Efraim Sadka

International Tax Competition and Gains from Tax Harmonization
w3151 Mervyn A. King
Mark Robson

Endogenous Growth and the role of History
w3150 Alan J. Auerbach
Laurence J. Kotlikoff

Demographics, Fiscal Policy, and U.S. Saving in the 1980s and Beyond
w3146 Elhanan Helpman
Leonardo Leiderman

Real Wages, Monetary Accommodation, and Inflation
w3145 Robert E. Hall
A Framework for studying Monetary Non-Neutrality
w3144 Robert E. Hall
Spontaneous Volatility of Output and Investment
w3143 Robert E. Hall
Temporal Agglomeration
w3134 David Romer
Staggered Price Setting with Endogenous Frequency of Adjustment
w3132 Victor Zarnowitz
Cost and Price Movements in Business Cycle Theories and Experience: Causes and Effects of OBserved Changes (SEE ALSO WP3131-Send out together)
w3131 Victor Zarnowitz
Cost and Price Movements in Business Cycle Theories and Experience: Hypotheses of Sticky Wages and Prices (SEE ALSO WP3132-send out together)
w3130 Lawrence J. Christiano
Martin Eichenbaum

Unit Roots in Real GNP: Do We Know, and Do We Care?
t0079 Donald W.K. Andrews
Ray C. Fair

Estimation of Polynomial Distributed Lags and Leads with End Point Constraints
w3126 Frederic S. Mishkin
The Information in the Longer Maturity Term Structure about Future Inflation
w3125 Frederic S. Mishkin
A Multi-Country Study of the Information in the Term Structure about Future Inflation
w3120 Robert J. Barro
Economic Growth in a Cross Section of Countries
w3117 John B. Taylor
Harald Uhlig

Solving Nonlinear Stochastic Growth Models: A Comparison of Alternative Solution Methods
w3105 Alan S. Blinder
Don H. Choi

A Shred of Evidence on Theories of Wage Stickiness
w3102 Ray C. Fair
Inflationary Expectations and Price Setting Behavior
w3099 Gene M. Grossman
Elhanan Helpman

Quality Ladders in the Theory of Growth
w3098 Paul M. Romer
Increasing Returns and New Developments in the Theory of Growth
w3090 Chris Carroll
Lawrence H. Summers

Consumption Growth Parallels Income Growth: Some New Evidence
w3054 Susanto Basu
Miles S. Kimball
N. Gregory Mankiw
David N. Weil

Optimal Advice for Monetary Policy
w3051 Mark Bils
Testing for Contracting Effects on Employment
w3050 Mark Bils
Cyclical Pricing of Durable Goods
w3045 Ray C. Fair
Does Monetary Policy Matter? Narrative Versus Structural Approaches
w3034 Robert E. Hall
Invariance Properties of Solow's Productivity Residual
w3033 Ricardo J. Caballero
Richard K. Lyons

The Role of External Economies in U.S. Manufacturing
w3028 Maurice Obstfeld
Intertemporal Dependence, Impatience, and Dynamics
w3014 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

Increasing Returns, Durables and Economic Fluctuations
w3004 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

Building Blocks of Market Clearing Business Cycle Models
w2992 Kenneth D. West
The Sources of Fluctuations in Aggregate Inventories and GNP
r1210 David Romer
What Are the Costs of Excessive Deficits?
r1209 Kevin M. Murphy
Robert H. Topel

The Evolution of Unemployment in the United States: 1968-1985
r1199 Martin Neil Baily
Robert J. Gordon

The Productivity Slowdown, Measurement Issues, and the Explosion of Computer Power
w2982 Robert J. Barro
New Classicals and Keynesians, or the Good Guys and the Bad Guys
w2976 Russell Cooper
John C. Haltiwanger

Macroeconomic Implications of Production Bunching
w2967 Miles S. Kimball
Labor Market Dynamics When Unemployment Is A Worker Discipline Device
w2966 Christina D. Romer
David H. Romer

Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz
w2953 Andrew B. Abel
Birth, Death and Taxes
w2948 Laurence Ball
Stephen G. Cecchetti

Wage Indexation and Time-Consistent Monetary Policy
w2939 Torsten Persson
Sweder van Wijnbergen

Signalling, Wage Controls and Monetary Disinflation Policy
w2938 Bruce C. Greenwald
Joseph E. Stiglitz

Toward a Theory of Rigidities
w2936 Steven N. Durlauf
Robert E. Hall

Bounds on the Variances of Specification Errors in Models with Expectations
w2925 Robert J. Barro
The Stock Market and Investment
w2924 John Y. Campbell
N. Gregory Mankiw

Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence
w2894 Jacob A. Frenkel
Morris Goldstein

Exchange Rate Volatility and Misalignment: Evaluating Some Proposals for Reform
w2889 Rudiger Dornbusch
Alejandro Reynoso

Financial Factors in Economic Development
w2888 Robert B. Barsky
Gary Solon

Real Wages Over The Business Cycle
w2882 N. Gregory Mankiw
Real Business Cycles: A New Keynesian Perspective
w2881 John B. Taylor
Policy Analysis With a Multicountry Model
w2877 Ray C. Fair
The Production Smoothing Model is Alive and Well
r1098 Robert J. Gordon
Back to the Future: European Unemployment Today Viewed from America in 1939.
w2869 Maurice Obstfeld
Dynamic Seigniorage Theory: An Exploration
w2865 Victor Zarnowitz
Facts and Factors in the Recent Evolution of Business Cycles in the United States
w2862 Ben Bernanke
Martin Parkinson

Unemployment, Inflation, and Wages in the American Depression: Are There Lessons for Europe?
w2855 Robert J. Barro
A Cross-Country Study of Growth, Saving, and Government
r1111 Laurence M. Ball
N. Gregory Mankiw
David H. Romer

"The New Keynesian Economics and the Output-Inflation Trade-off"
w2825 Michael D. Bordo
Ehsan U. Choudhri
Anna J. Schwartz

Money Stock Targeting, Base Drift and Price-Level Predictability: Lessons From the U.K. Experience
w2823 Joseph E. Stiglitz
Money, Credit, and Business Fluctuations
w2819 Martin Feldstein
Douglas W. Elmendorf

Budget Deficits, Tax Incentives and Inflation: A Surprising Lesson From The 1983-84 Recovery
w2815 Stanley Fischer
Lawrence H. Summers

Should Nations Learn to Live With Inflation?
w2812 Victor Zarnowitz
Phillip Braun

Major Macroeconomic Variables and Leading Indexes: Some Estimates of Their Interrelations, 1886-1982
1988
w2807 Marjorie A. Flavin
The Excess Smoothness of Consumption: Identification and Interpretation
w2799 Catherine J. Morrison
Markups in U.S. and Japanese Manufacturing: A Short Run Econometric Analysis
w2794 N. Gregory Mankiw
David N. Weil

The Baby Boom, The Baby Bust, and the Housing Market
w2789 Robert E. Hall
Substitution over Time in Work and Consumption
w2785 Rudiger Dornbusch
Credibility, Debt and Unemployment: Ireland's Failed Stabilization
w2779 Marc Nerlove
Assaf Razin
Efraim Sadka

A Bequest-Constrained Economy: Welfare Analysis
r1083 Olivier Jean Blanchard
Aggregate and Individual Price Adjustment
w2776 John H. Cochrane
Production Based Asset Pricing
w2772 James H. Stock
Mark W. Watson

A Probability Model of The Coincident Economic Indicators
w2765 Jeffrey A. Miron
Stephen P. Zeldes

Production, Sales, and the Change in Inventories: An Identity That Doesn`t Add Up
w2763 Mark Gertler
Financial Capacity, Reliquification, and Production in an Economy with Long-Term Financial Arrangements
w2757 Michael Bruno
Theoretical Developments in the Light of Macroeconomic Policy and Empirical Research
w2737 Olivier Jean Blanchard
Danny Quah

The Dynamic Effects of Aggregate Demand and Supply Disturbances
w2730 John H. Cochrane
The Sensitivity of Tests of the Intertemporal Allocation of Consumption to Near-Rational Alternatives
w2724 Harold L. Cole
Alan C. Stockman

Specialization, Transactions Technologies, and Money Growth
w2716 J. Bradford De Long
Lawrence H. Summers

On the Existence and Interpretation of the "Unit Root" in U.S. GNP
w2709 Kevin M. Murphy
Andrei Shleifer
Robert Vishny

Income Distribution, Market Size, and Industrialization
w2708 Kevin M. Murphy
Andrei Shleifer
Robert W. Vishny

Industrialization and the Big Push
w2701 Jeffrey A. Miron
The Founding of the Fed and the Destabilization of the Post-1914 Economy
w2700 Lawrence J. Christiano
Martin Eichenbaum

Is Theory Really Ahead of Measurement? Current Real Business Cycle Theories and Aggregate Labor Market Fluctuations
w2698 Olivier Jean Blanchard
Unemployment: Getting the Questions Right - and some of the answers
w2695 Lawrence J. Christiano
Searching For a Break in GNP
w2691 Frederic S. Mishkin
Understanding Real Interest Rates
w2688 Robert B. Barsky
Jeffrey A. Miron

The Seasonal Cycle and the Business Cycle
w2685 Robert J. Barro
The Ricardian Approach to Budget Deficits
w2682 Nouriel Roubini
Jeffrey Sachs

Political and Economic Determinants of Budget Deficits in the IndustrialDemocracies
w2680 Miles S. Kimball
N. Gregory Mankiw

Precautionary Saving and the Timing of Taxes
w2674 Nathan S. Balke
Robert J. Gordon

The Estimation of Prewar GNP: Methodology and New Evidence
w2664 Kenneth D. West
Evidence From Seven Countries on Whether Inventories Smooth Aggregate Output
w2651 Bruce Greenwald
Joseph E. Stiglitz

Pareto Inefficiency of Market Economies: Search and Efficiency Wage Models
w2645 Matthew D. Shapiro
The Stabilization of the U.S. Economy Evidence From the Stock Market
w2642 John H. Cochrane
A Test of Consumption Insurance
t0067 John Y. Campbell
Robert J. Shiller

The Dividend Ratio Model and Small Sample Bias: A Monte Carlo Study
w2639 Christina D. Romer
The Great Crash and the Onset of the Great Depression
w2621 Andrew B. Abel
Stock Prices Under Time-Varying Dividend Risk: An Exact Solution In An Infinite-Horizon General Equilibrium Model
w2591 Julio J. Rotemberg
Lawrence H. Summers

Labor Hoarding, Inflexible Prices, and Procyclical Productivity
w2590 Lawrence H. Summers
Relative Wages, Efficiency Wages, and Keynesian Unemployment
w2589 Matthew D. Shapiro
Mark W. Watson

Sources of Business Cycle Fluctuations
w2588 Robert J. Barro
Government Spending in a Simple Model of Endogenous Growth
w2585 Robert J. Gordon
U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment
w2581 Robert J. Barro
Interest-Rate Smoothing
w2575 Frederic S. Mishkin
The Information in the Term Structure: Some Further Results
w2580 Andrew B. Abel
Consumption and Investment
w2576 Robert E. Hall
A Non-Competitive, Equilibrium Model Of Fluctuations
w2567 James M. Poterba
Julio J. Rotemberg

Inflation And Taxation With Optimizing Governments
w2559 Mark L. Gertler
Financial Structure and Aggregate Economic Activity: An Overview
w2538 David M. Cutler
James M. Poterba
Lawrence H. Summers

What Moves Stock Prices?
w2534 Ben S. Bernanke
Alan S. Blinder

Credit, Money, and Aggregate Demand
w2523 Martin S. Eichenbaum
Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment
w2520 Bennett T. McCallum
The Role of Demand Management in the Maintenance of Full Employment
w2518 Stanley Fischer
Rules Versus Discretion in Monetary Policy
w2517 Andrew B. Abel
The Implications of Insurance for the Efficacy of Fiscal Policy
w2503 Ray C. Fair
Robert J. Shiller

The Informational Content of Ex Ante Forecasts
w2498 John Y. Campbell
N. Gregory Mankiw

International Evidence on the Persistence of Economic Fluctuations
w2496 Olivier J. Blanchard
N. Gregory Mankiw

Consumption: Beyond Certainty Equivalence
w2495 Ray C. Fair
VAR Models as Structural Approximations
w2490 Andrew B. Abel
Laurence J. Kotlikoff

Does the Consumption of Different Age Groups Move Together? A New Nonparametric Test of Intergenerational Altruism
w2489 Alan S. Blinder
The Challenge of High Unemployment
w2488 Avner Bar-Ilan
Alan S. Blinder

Consumer Durables and the Optimality of Usually Doing Nothing
w2480 Bennett T. McCallum
Real Business Cycle Models
1987
w2476 Laurence Ball
David Romer

Real Rigidities and the Non-Neutrality of Money
w2475 Stanley Fischer
Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86
w2474 N. Gregory Mankiw
Recent Developments in Macroeconomics: A Very Quick Refresher Course
w2473 Stanley Fischer
Recent Developments in Macroeocnomics
w2454 Robert J. Gordon
Wage Gaps vs. Output Gaps: Is There a Common Story for All of Europe?
w2450 Danny Quah
What Do We Learn from Unit Roots in Macroeconomic Time Series?
w2440 Christina D. Romer
Changes in the Cyclical Behavior of Individual Production Series
w2436 John Y. Campbell
N. Gregory Mankiw

Permanent Income, Current Income, and Consumption
w2432 Laurence Ball
David Romer

The Equilibrium and Optimal Timing of Price Changes
w2425 Russell Cooper
John C. Haltiwanger

Inventories and the Propagation of Sectoral Shocks
w2413 Michael Bruno
Stanley Fischer

Seigniorage, Operating Rules and the High Inflation Trap
w2412 Laurence Ball
David Romer

The Equilibrium and Optimal Timing of Price Changes
w2400 Frederic S. Mishkin
Can Futures Market Data Be Used to Understand the Behavior of Real Interest Rates?
w2388 Russell Cooper
Dynamic Behavior of Imperfectly Competitive Economies with Multiple Equilibria
w2386 N. Gregory Mankiw
Imperfect Competition and the Keynesian Cross
w2385 Kenneth D. West
Order Backlogs and Production Smoothing
w2381 Victor Zarnowitz
The Regularity of Business Cycles
w2364 Kenneth D. West
On the Interpretation of Near Random-Walk Behavior in GNP
w2360 Jeffrey A. Miron
Stephen P. Zeldes

Seasonality, Cost Shocks, and the Production Smoothing Model of Inventories
w2359 James H. Stock
Kenneth D. West

Integrated Regressors and Tests of the Permanent Income Hypothesis
w2355 Martin Feldstein
Douglas W. Elmendorf

Taxes, Budget Deficits ad Consumer Spending: Some New Evidence
w2344 Robert B. Barsky
N. Gregory Mankiw
Jeffrey A. Miron
David N. Weil

The Worldwide Change in the Behavior of Interest Rates and Prices in 1914
w2331 Andrew B. Abel
Operative Gift and Bequest Motives
w2327 Laurence Ball
David Romer

Sticky Prices as Coordination Failure
w2321 Jacob A. Frenkel
Assaf Razin

The Mundell-Flemming Model: A Quarter Century Later
w2319 Chris Carroll
Lawrence H. Summers

Why Have Private Saving Rates in the United States and Canada Diverged?
w2318 Ben Bernanke
Mark Gertler

Financial Fragility and Economic Performance
w2313 Alan C. Stockman
Sectoral and National Aggregate Disturbances to Industrial Output in Seven European Countries
w2311 Andrew C. Caplin
Daniel F. Spulber

Menu Costs and the Neutrality of Money
w2300 William Poole
Monetary Policy Lessons of recent Inflation and Disinflation
w2298 Andrew B. Abel
An Analysis of Fiscal Policy Under Operative and Inoperative Bequest Motives
w2285 Olivier J. Blanchard
Why Does Money Affect Output? A Survey
w2280 Ray C. Fair
Kathryn M. Dominguez

Effects of the Changing U.S. Age Distribution on Macroeconomic Equations
w2277 Richard M. Levich
Financial Innovations in International Financial Markets
w2270 N. Gregory Mankiw
The Optimal Collection of Seigniorage: Theory and Evidence
w2265 Robert E. Hall
Consumption
w2264 Robert E. Hall
Investment Under Uncertainty: Theory and Tests with Industry Data
w2259 Herschel I. Grossman
John B. Van Huyck

Nominally Sovereign Debt, Risk Shifting, and Reputation
w2252 Kenneth D. West
The Insensitivity of Consumption to News About Income
w2247 Robert S. Chirinko
Intertemporal Constraints, Shadow Prices, and Financial Asset Values
w2239 Herschel I. Grossman
A Generic Model of Monetary Policy, Inflation, and Reputation
w2233 Ray C. Fair
Robert J. Shiller

Econometric Modeling as Information Aggregation
w2229 Robert G. King
Charles I. Plosser
James H. Stock
Mark W. Watson

Stochastic Trends and Economic Fluctuations
w2223 John Y. Campbell
Richard H. Clarida

Household Saving and Permanent Income in Canada and the United Kingdom
w2222 Ray C. Fair
The Effect of Economic Events on Votes for President: 1984 Update
w2213 Warwick J. McKibbin
Nouriel Roubini
Jeffrey Sachs

Dynamic Optimization in Two-Party Models
w2212 Matthew D. Shapiro
Measuring Market Power in U.S. Industry
w2209 Lawrence J. Christiano
Martin Eichenbaum
David Marshall

The Permanent Income Hypothesis Revisited
w2188 Bruce Greenwald
Joseph E. Stiglitz

Money, Imperfect Information and Economic Fluctuations
w2187 Christina D. Romer
Existing Estimates, New Estimates, and New Interpretations of World War I and its Aftermath
w2181 Martin S. Eichenbaum
Lars Peter Hansen

Estimating Models with Intertemporal Substitution Using Aggregate Time Series Data
w2178 Dennis W. Carlton
The Theory and the Facts of How Markets Clear: Is Industrial Organization Valuable for Understanding Macroeconomics?
w2171 Laurence M. Ball
David Romer

Are Prices Too Sticky?
w2169 John Y. Campbell
N. Gregory Mankiw

Permanent and Transitory Components in Macroeconomic Fluctuations
w2164 Joseph E. Stiglitz
Andrew Weiss

Macro-Economic Equilibrium and Credit Rationing
w2160 Bruce C. Greenwald
Joseph E. Stiglitz

Keynesian, New Keynesian, and New Classical Economics
w2156 Bennett T. McCallum
The Development of Keynesian Macroeconomics
w2150 Ray C. Fair
Optimal Choice of Monetary Policy Instruments in a Macroeconometric Model
w2149 Avner Bar-Ilan
Alan S. Blinder

The Life-Cycle Permanent-Income Model and Consumer Durables
w2147 Matthew D. Shapiro
Are Cyclical Fluctuations in Productivity Due More to Supply Shocks or Demand Shocks?
w2146 Matthew D. Shapiro
Supply Shocks in Macroeconomics
w2144 James M. Poterba
Lawrence H. Summers

Recent Evidence on Budget Deficits and National Savings
w2142 Eliana A. Cardoso
Rudiger Dornbusch

Brazil's Tropical Plan
w2136 Andrew B. Abel
Optimal Monetary Growth
w2134 John Y. Campbell
Angus Deaton

Is Consumption Too Smooth?
w2129 Robert J. Shiller
Ultimate Sources of Aggregate Variability
w2124 N. Gregory Mankiw
Jeffrey A. Miron
David N. Weil

The Adjustment of Expectations to a Change in Regime: A Study of the Founding of the Federal Reserve
w2122 Philippe Bacchetta
Martin Feldstein

How Far Has the Dollar Fallen?
1986
w2115 Ian Domowitz
R. Glenn Hubbard
Bruce C. Petersen

Market Structure and Cyclical Fluctuations in U.S. Manufacturing
w2112 Ray C. Fair
Sources of Output and Price Variability in a Macroeconometric Model
w2109 Richard T. Froyen
Roger N. Waud

Real Business Cycles and the Lucas Paradigm
w2106 Ray C. Fair
International Evidence on the Demand for Money
w2105 Ray C. Fair
Interest Rate and Exchange Rate Determination
w2102 Kenneth D. West
A Standard Monetary Model and the Variability of the Deutschemark-DollarExchange Rate
w2101 Daniel M.G. Raff
Lawrence H. Summers

Did Henry Ford Pay Efficiency Wages?
w2100 John Y. Campbell
Robert J. Shiller

The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors
w2099 Victor Zarnowitz
The Record and Improvability of Economic Forecasting
w2097 Andrew B. Abel
N. Gregory Mankiw
Lawrence H. Summers
Richard J. Zeckhauser

Assessing Dynamic Efficiency: Theory and Evidence
w2095 Ray C. Fair
Matthew D. Shapiro
Kathryn M. Dominguez

Forecasting the Depression: Harvard Versus Yale
w2093 Bruce C. Greenwald
Joseph E. Stiglitz

Imperfect Information, Credit Markets and Unemployment
w2082 Robert S. Chirinko
Tobin's Q and Financial Policy
w2080 Jacob A. Frenkel
Assaf Razin

Deficits with Distortionary Taxes: International Dimensions
w2070 Robert J. Gordon
Productivity, Wages, and Prices Inside and Outside of Manufacturing in the U.S., Japan, and Europe
w2067 Kenneth D. West
A Specification Test for Speculative Bubbles
w2066 Victor Zarnowitz
Geoffrey H. Moore

Forecasting Recessions Under the Gramm-Rudman-Hollings Law
w2065 Jacob A. Frenkel
Assaf Razin

Fiscal Policies and Real Exchange Rates in the World Economy
w2062 Martin Feldstein
The Effects of Fiscal Policies When Incomes are Uncertain: A Contradiction to Ricardian Equivalence
w2061 Lawrence H. Summers
Debt Problems and Macroeconomic Policies
w2060 Russell Cooper
Optimal Labor Contracts, Imperfect Competition and Underemployment Equilibria: A Framework for Analysis
w2057 Ian Domowitz
R. Glenn Hubbard
Bruce C. Petersen

Business Cycles and Oligopoly Supergames: Some Empirical Evidence on Prices and Margins
w2050 Andrew B. Abel
Olivier J. Blanchard

Investment and Sales: Some Empirical Evidence
w2044 Olivier J. Blanchard
Empirical Structural Evidence on Wages, Prices and Employment in the US
w2035 Olivier J. Blanchard
Lawrence H. Summers

Hysteresis in Unemployment
w2034 Olivier J. Blanchard
Lawrence H. Summers

Fiscal Increasing Returns, Hysteresis, Real Wages and Unemployment
w2033 Robert S. Chirinko
Investment, Tobin's Q, and Multiple Capital Inputs
r0777 N. Gregory Mankiw
The Term Structure of Interest Rates Revisited
r0774 Matthew D. Shapiro
Investment, Output, adn the Cost of Capital
w2015 Ben S. Bernanke
Mark Gertler

Agency Costs, Collateral, and Business Fluctuations
t0060 Lawrence J. Christiano
Martin S. Eichenbaum

Temporal Aggregation and Structural Inference in Macroeconomics
w2009 N. Gregory Mankiw
Government Purchases and Real Interest Rates
w2006 Allan Drazen
Elhanan Helpman

Inflationary Consequences of Anticipated Macroeconomic Policies
w2005 Robert J. Barro
Government Spending, Interest Rates, Prices, and Budget Deficits in the United Kingdom, 1701-1918
w2004 Behzad T. Diba
Herschel I. Grossman

Rational Inflationary Bubbles
w1999 Nathan S. Balke
Robert J. Gordon

The Estimation of Prewar GNP Volatility, 1869-1938
w1995 John F. Helliwell
Supply-Side Macroeconomics
w1990 Behzad T. Diba
Herschel I. Grossman

On the Inception of Rational Bubbles in Stock Prices
w1988 Stephen J. Turnovsky
Supply Shocks and Optimal Monetary Policy
w1986 Kenneth Rogoff
Reputational Constraints on Monetary Policy
w1985 Robert J. Barro
Paul M. Romer

Ski-Lift Pricing, with an Application to the Labor Market
w1981 Martin S. Eichenbaum
Lars Peter Hansen
Kenneth J. Singleton

A Time Series Analysis of Representative Agent Models of Consumption andLeisure Choice Under Uncertainty
w1973 Robert E. Hall
Chronic Excess Capacity in U.S. Industry
w1970 Martin Feldstein
Budget Deficits, Tax Rules, and real Interest Rates
w1969 Christina D. Romer
The Prewar Business Cycle Reconsidered: New Estimates of Gross NationalProduct, 1869-1918
w1968 Alan B. Krueger
Lawrence H. Summers

Reflections on the Inter-Industry Wage Structure
w1960 Alan C. Stockman
Price Contracts, Output, and Monetary Disturbances
w1955 James M. Poterba
Lawrence H. Summers

Finite Lifetimes and the Crowding Out Effects of Budget Deficits
w1952 Alan B. Krueger
Lawrence H. Summers

Efficiency Wages and the Wage Structure
w1950 Olivier J. Blanchard
Lawrence H. Summers

Hysteresis and the European Unemployment Problem
w1943 Julio J. Rotemberg
Garth Saloner

The Relative Rigidity of Monopoly Pricing
w1940 Alberto Alesina
Jeffrey Sachs

Political Parties and the Business Cycle in the United States, 1948-1984
w1939 N. Gregory Mankiw
Matthew D. Shapiro

News or Noise? An Analysis of GNP Revisions
w1933 Bennett T. McCallum
On "Real" and "Sticky-Price" Theories of the Business Cycle
r0720 Olivier J. Blanchard
Lawrence H. Summers

Perspectives on High World Real Interest Rates
w1932 Martin S. Eichenbaum
Kenneth J. Singleton

Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles?
w1929 Frederic S. Mishkin
U.S. Macroeconomic Policy and Performance in the 1980s: An Overview
w1916 John Y. Campbell
N. Gregory Mankiw

Are Output Fluctuations Transitory?
w1913 Alan S. Blinder
More on the Speed of Adjustment in Inventory Models
w1910 Angus Deaton
Life-Cycle Models of Consumption: Is the Evidence Consistent with the Theory?
w1900 Matthew D. Shapiro
Capital Utilization and Capital Accumulation: Theory and Evidence
w1899 Matthew D. Shapiro
The Dynamic Demand for Capital and Labor
w1898 Martin Feldstein
The Budget Deficit and the Dollar
w1897 Kenneth J. Singleton
Asset Prices in a Time Series Model with Disparately Informed, Competative Traders
w1892 Bennett T. McCallum
The Optimal Inflation Rate in an Overlapping-Generations Economy with Land
w1889 Steven L. Green
Herschel I. Grossman

The Illusion of Stabilization Policy?
w1881 Joshua Aizenman
Jacob A. Frenkel

Targeting Rules for Monetary Policy
t0055 Whitney K. Newey
Kenneth D. West

A Simple, Positive Semi-Definite, Heteroskedasticity and AutocorrelationConsistent Covariance Matrix
w1873 Andrew B. Abel
Aggregate Savings in the Presence of Private and Social Insurance
w1842 Ben S. Bernanke
Alternative Explanations of the Money-Income Correlation
w1838 Kenneth Rogoff
Anne Sibert

Elections and Macroeconomic Policy Cycles
w1835 Kenneth D. West
Targeting Nominal Income: A Note
w1833 Kenneth D. West
Dividend Innovations and Stock Price Volatility
t0054 Kenneth D. West
Full Versus Limited Information Estimation of a Rational Expectations Model: Some Numerical Comparisons
w1821 Michael D. Bordo
Explorations in Monetary History: A Survey of the Literature
w1818 Sherwin Rosen
Robert H. Topel

A Time-Series Model of Housing Investment in the U.S.
w1817 A. Mitchell Polinsky
Fixed Price Versus Spot Price Contracts: A Study in Risk Allocation
w1816 Joseph G. Altonji
John C. Ham

Variation in Employment Growth in Canada: The Role of External, National, Regional and Industrial Factors
w1814 Ray C. Fair
Estimated Macroeconomic Effects of Deficit Targeting
w1813 Dennis W. Carlton
The Rigidity of Prices
w1810 Rudiger Dornbusch
Stanley Fischer

Stopping Hyperinflations Past and Present
w1805 John Y. Campbell
Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis
w1801 Joshua Aizenman
Jacob A. Frenkel

Sectorial Wages and the Real Exchange Rate
w1797 Stanley Fischer
1944, 1963 and 1985: Modiglianiesque Macro Models
w1796 James M. Poterba
Julio J. Rotemberg

Money in the Utility Function: An Empirical Implementation
w1794 Robert J. Barro
Reputation in a Model of Monetary Policy with Incomplete Information
w1793 Gary S. Becker
Robert J. Barro

A Reformulation of the Economic Theory of Fertility
w1788 N. Gregory Mankiw
The Equity Premium and the Concentration of Aggregate Shocks
w1785 Robert E. Hall
The Relation Between Price and Marginal Cost in U.S. Industry
1985
w1771 Olivier J. Blanchard
The Wage Price Spiral
w1770 Olivier J. Blanchard
Nobuhiro Kiyotaki

Monopolistic Competition, Aggregate Demand Externalities and Real Effects of Nominal Money
w1779 Behzad T. Diba
Herschel I. Grossman

Rational Bubbles in Stock Prices?
w1767 Charles W. Calomiris
R. Glenn Hubbard

Price Flexibility, Credit Rationing, and Economic Fluctuations: Evidence from the U.S., 1879-1914
w1753 Fumio Hayashi
Taxes and Corporate Investment in Japanese Manufacturing
w1734 Russell Cooper
Sharing Some Thoughts on Weitzman's The Share Economy
w1722 Stanley Fischer
Monetary Rules and Commodity Schemes Under Uncertainty
w1720 Fumio Hayashi
Tests for Liquidity Constraints: A Critical Survey
t0051 N. Gregory Mankiw
Matthew D. Shapiro

Do We Reject Too Often? Small Sample Properties of Tests of Rational Expectations Models
r0651 Robert J. Gordon
Understanding Inflation in the 1980's
w1710 Lawrence H. Summers
Issues in National Savings Policy
w1705 John Huizinga
Leonardo Leiderman

Interest Rates, Money Supply Announcements, and Monetary Base Announcements
w1704 Robert S. Chirinko
The Ineffectiveness of Effective Tax Rates on Business Investment
w1698 Robert B. Campbell
Stephen J. Turnovsky

An Analysis of the Stabilizing and Welfare Effects of Intervention in Spot and Futures Markets
w1694 Robert E. Hall
Real Interest and Consumption
w1686 J. Bradford De Long
Lawrence H. Summers

Is Increased Price Flexibility Stabilizing?
w1684 Robert S. Chirinko
Stephen R. King

Hidden Stimuli to Capital Formation: Debt and the Incomplete Adjustment of Financial Returns
w1680 Robert B. Barsky
Lawrence H. Summers

Gibson's Paradox and the Gold Standard
w1678 John Huizinga
Frederic S. Mishkin

Monetary Policy Regime Shifts and the Unusual Behavior of Real Interest Rates
w1673 Herschel I. Grossman
John B. Van Huyck

Sovereign Debt as a Contingent Claim: Excusable Default, Repudiation, and Reputation
w1669 N. Gregory Mankiw
Jeffrey A. Miron

The Changing Behavior of the Term Structure of Interest Rates
w1666 Jeremy I. Bulow
Lawrence H. Summers

A Theory of Dual Labor Markets with Application to Industrial Policy, Discrimination and Keynesian Unemployment
w1664 Andrew B. Abel
Capital Accumulation and Uncertain Lifetimes with Adverse Selection
w1663 Sanford J. Grossman
Monetary Dynamics with Proportional Transaction Costs and Fixed Payment Periods
w1647 Ben S. Bernanke
Mark L. Gertler

Banking in General Equilibrium
w1646 Michael J. Boskin
Laurence J. Kotlikoff

Pubic Debt and U.S. Saving: A New Test of the Neutrality Hypothesis
w1642 Ben S. Bernanke
Employment, Hours, and Earnings in the Depression: An Analysis of EightManufacturing Industries
w1637 Naoko Ishii
Warwick J. McKibbin
Jeffrey Sachs

Macroeconomic Interdependence of Japan and the United States: Some Simulation Results
w1636 Jeffrey Sachs
The Dollar and the Policy Mix: 1985
w1635 Sherwin Rosen
Implicit Contracts: A Survey
w1632 James D. Hamilton
Marjorie A. Flavin

On the Limitations of Government Borrowing: A Framework for Empirical Testing
w1627 James M. Poterba
Julio J. Rotemberg
Lawrence H. Summers

A Tax-Based Test for Nominal Rigidities
t0049 Ben S. Bernanke
Henning Bohn
Peter C. Reiss

Alternative Nonnested Specification Tests of Time Series Investment Models
w1619 Alan S. Blinder
Credit Rationing and Effective Supply Failures
w1618 Robert E. Lucas
Jr.
Nancy L. Stokey

Money and Interest in a Cash-in-Advance Economy
w1615 Behzad T. Diba
Herschel I. Grossman

The Impossibility of Rational Bubbles
w1609 Joshua Aizenman
Jacob A. Frenkel

Supply Shocks, Wage Indexation and Monetary Accommodation
w1606 Michael D. Bordo
Some Historical Evidence 1870-1933 on the Impact and International Transmission of Financial Crises
w1601 Maurice Obstfeld
Kenneth Rogoff

Ruling Out Nonstationary Speculative Bubbles
w1593 Guillermo A. Calvo
Maurice Obstfeld

Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes
w1586 Richard C. Marston
Stephen J. Turnovsky

Macroeconomic Stabilization Through Taxation and Indexation: The use ofFirm-Specific Information
w1581 Kenneth D. West
A Variance Bounds Test of the Linear Quardractic Inventory Model
r0576 Robert J. Gordon
Unemployment and Potential Output in the 1980s
w1567 Rebecca M. Blank
Alan S. Blinder

Macroeconomics, Income Distribution, and Poverty
w1563 Andrew B. Abel
Inventories, Stock-Outs, and Production Smoothing
w1556 Bennett T. McCallum
Monetary vs. Fiscal Policy Effects: A Review of the Debate
w1549 Andrew B. Abel
Dynamic Behavior of Capital Accumulation in a Cash-in-Advance Model
1984
w1518 Daniel Valente Dantas
Rudiger Dornbusch

Anticipated Budget Deficits and the Term Structure of Interest Rates
w1506 John B. Taylor
International Coordination in the Design of Macroeconomic Policy Rules
w1503 Victor Zarnowitz
Recent Work on Business Cycles in Historical Perspective: Review of Theories and Evidence
w1497 Stanley Fischer
Real Balances, the Exchange Rate and Indexation: Real Variables in Disinflation
w1492 Laurence J. Kotlikoff
Ariel Pakes

Looking for the News in the Noise - Additional Stochastic Implications of Optimal Consumption Choice
w1491 John B. Taylor
Improvements in Macroeconomic Stability: The Role of Wages and Prices
w1490 Bennett T. McCallum
Credibility and Monetary Policy
t0042 John B. Taylor
New Econometric Techniques for Marcoeconomic Policy Evaluation
w1484 Andrew B. Abel
A Stochastic Model of Investment, Marginal q and the Market Value of theFirm
w1483 Michael Bruno
Stanley Fischer

The Inflationary Process in Israel: Shocks and Accommodation
w1473 Robert J. Barro
Rules versus Discretion
w1460 Richard T. Froyen
Roger N. Waud

An Examination of Aggregate Price Uncertainty in Four Countries and SomeImplications for Real Output
w1453 Frederic S. Mishkin
The Causes of Inflation
w1450 J. Bradford De Long
Lawrence H. Summers

The Changing Cyclical Variability of Economic Activity in the United States
w1448 Lawrence H. Summers
Estimating the Long-Run Relationship Between Interest Rates and Inflation: A Response to McCallum
w1445 Ray C. Fair
The Use of Expected Future Variables in Macroeconometric Models
w1444 J. Bradford De Long
Lawrence H. Summers

Are Business Cycles Symmetric?
w1443 N. Gregory Mankiw
Lawrence H. Summers

Are Tax Cuts Really Expansionary?
w1442 Joseph E. Stiglitz
Theories of Wage Rigidity
t0041 Michael Mussa
Rational Expectations Models with a Continuum of Convergent Solutions
w1426 Robert J. Gordon
John M. Veitch

Fixed Investment in the American Business Cycle, 1919-83
w1422 Rudiger Dornbusch
Stanley Fischer

The Open Economy: Implications for Monetary and Fiscal Policy
w1421 Robert J. Gordon
The Short-Run Demand for Money: A Reconsideration
w1415 Kenneth B. Dunn
Kenneth J. Singleton

Modeling the Term Structure of Interest Rates Under Nonseparable Utilityand Duriability of Goods
w1412 Julio J. Rotemberg
Garth Saloner

A Supergame-Theoretic Model of Business Cycles and Price Wars During Booms
w1400 Robert B. Barsky
N. Gregory Mankiw
Stephen P. Zeldes

Ricardian Consumers With Keynesian Propensities
w1399 N. Gregory Mankiw
Matthew D. Shapiro

Risk and Return: Consumption versus Market Beta
w1395 Victor Zarnowitz
Geoffrey H. Moore

Major Changes in Cyclical Behavior
w1394 Geoffrey H. Moore
Victor Zarnowitz

The Development and Role of the National Bureau's Business Cycle Chronologies
w1392 Olivier J. Blanchard
Mark W. Watson

Are Business Cycles All Alike?
w1391 Robert E. Hall
The Role of Consumption in Economic Fluctuations
w1389 Olivier J. Blanchard
Debt, Deficits and Finite Horizons
w1381 Herschel I. Grossman
Counterfactuals, Forecasts, and Choice-Theoretic Modelling of Policy
w1378 Victor Zarnowitz
Business Cycles Analysis and Expectational Survey Data
w1377 Ray C. Fair
Estimated Trade-Offs Between Unemployment and Inflation
w1376 Ben S. Bernanke
James L. Powell

The Cyclical Behavior of Industrial Labor Markets: A Comparison of the Pre-War and Post-War Eras
w1373 Joshua Aizenman
Stabilization Policies and the Information Content of Real Wages
w1372 Andrew B. Abel
Bequests and Social Security With Uncertain Lifetimes
w1371 Alan S. Blinder
Douglas Holtz-Eakin

Inventory Fluctuations in the United States Since 1929
w1347 Robert E. Hall
The Inefficiency of Marginal-Cost Pricing and The Apparent Rigidity of Prices
w1343 Robert J. Gordon
The 1981-82 Velocity Decline: A Structural Shift in Income or Money Demand?
w1341 Marjorie A. Flavin
Excess Sensitivity of Consumption to Current Income: Liquidity Constraints or Myopia?
w1339 Stanley Fischer
Contracts, Credibility, and Disinflation
w1333 John Huizinga
Frederic S. Mishkin

Inflation and Real Interest Rates on Assets with Different Risk Characteristics
w1329 Joshua Aizenman
Jacob A. Frenkel

Optimal Wage Indexation, Foreign-Exchange Intervention and Monetary Policy
w1326 Olivier J. Blanchard
The Lucas Critique and the Volcker Deflation
w1325 Olivier J. Blanchard
Angelo Melino

Cyclical Behavior of Prices and Quantities in the Automobile Market
w1319 Joshua Aizenman
Optimal Price Adjustment with Time-Dependent Costs
w1312 Joseph G. Haubrich
Robert G. King

Banking and Insurance
w1309 Robert J. Barro
The Behavior of U.S. Deficits
w1305 Fumio Hayashi
The Permanent Income Hypothesis and Consumption Durability: Analysis Based on Japanese Panel Data
w1301 Robert J. Gordon
Supply Shocks and Monetary Policy Revisited
w1300 Behzad T. Diba
Herschel I. Grossman

Rational Bubbles in the Price of Gold
w1294 Bennett T. McCallum
Some Issues Concerning Interest Rate Pegging, Price Level Determinacy, and the Real Bills Doctrine
w1293 Ray C. Fair
Effect of Expected Future Government Deficits on Current Economic Activity
w1292 Ray C. Fair
Excess Labor and the Business Cycle
w1291 Stanley Fischer
Robert C. Merton

Macroeconomics and Finance: The Role of the Stock Market
w1287 Jacob A. Frenkel
Michael L. Mussa

Asset Markets, Exchange Rates and the Balance of Payments
w1281 Alberto Giovannini
Julio J. Rotemberg

Exchange Rate Dynamics with Sticky Prices: The Deutsch Mark, 1974-1982
r0456 Jacob A. Frenkel
Panel Discussion on the Southern Cone
w1266 Jacob A. Frenkel
Assaf Razin

Fiscal Policies, Debt, and International Economic Interdependence
w1265 Olivier J. Blanchard
Current and Anticipated Deficits, Interest Rates and Economic Activity
w1257 Alan S. Blinder
Can The Production Smoothing Model of Inventory Behavior be Saved?
1983
w1242 Nicholas Carlozzi
John B. Taylor

International Capital Mobility and the Coordination of Monetary Rules
w1235 Stanley Fischer
Inflation and Growth
w1234 Alan S. Blinder
Douglas Holtz-Eakin

Public Opinion and the Balanced Budget
w1225 John B. Taylor
Optimal Stabilization Rules in a Stochastic Model of Investment with Gestation Lags
w1224 John B. Taylor
Rational Expectations Models in Macroeconomics
t0031 Peter M. Garber
Robert G. King

Deep Structral Excavation? A Critique of Euler Equation Methods
r0430 Sanford J. Grossman
Oliver D. Hart

Implicit Contracts Under Asymmetric Information
w1221 Robert J. Gordon
The Conduct of Domestic Monetary Policy
w1216 Robert G. King
Joseph G. Haubrich

Sticky Prices, Money and Business Fluctuations
w1214 Robert J. Barro
Chaipat Sahasakul

Average Marginal Tax Rates from Social Security and the Individual Income Tax
w1210 Robert J. Gordon
Using Monetary Control to Dampen the Business Cycle: A New Set of First Principles
r0416 Robert E. Hall
Explorations in the Gold Standard and Related Policies for Stabilizing the Dollar
w1202 Thomas Doan
Robert B. Litterman
Christopher A. Sims

Forecasting and Conditional Projection Using Realistic Prior Distributions
r0414 Alan S. Blinder
The Anatomy of Double Digit Inflation in the 1970s
r0413 Robert J. Gordon
Why Stopping Inflation May be Costly: Evidence from Fourteen Historical Episodes
w1190 Stanley Fischer
The Economy of Israel
w1175 Robert G. King
Bharat Trehan

The Implications of an Endogenous Money Supply for Monetary Neutrality
w1171 Victor Zarnowitz
Louis A. Lambros

Consensus and Uncertainty in Economic Prediction
w1162 Bennett T. McCallum
On Low-Frequency Estimates of "Long-Run" Relationships in Macro- economics
w1160 Bennett T. McCallum
A Linearized Version of Lucas's Neutrality Model
w1150 Joshua Aizenman
Wage Contracts with Incomplete and Costly Information
w1148 N. Gregory Mankiw
Consumer Durables and the Real Interest Rate
w1147 Olivier J. Blanchard
Inflexible Relative Prices and Price Level Inertia
w1144 Herschel I. Grossman
William S. Haraf

Shunto, Rational Expectations, and Output Growth in Japan
t0003 David Lipton
James M. Poterba
Jeffrey Sachs
Lawrence H. Summers

Multiple Shooting in Rational Expectations Models
r0382 Sanford J. Grossman
An Introduction to the Theory of Rational Expectations Under AsymmetricInformation
w1122 Andrew B. Abel
Olivier J. Blanchard

The Present Value of Profits and Cyclical Movements in Investment
w1119 Stanley Fischer
Supply Shocks, Wage Stickiness, and Accommodation
w1118 Jacob A. Frenkel
International Liquidity and Monetary Control
w1114 Michael Dotsey
Robert G. King

Monetary Instruments and Policy Rules in a Rational Expectations Environment
w1097 Fumio Hayashi
Real and Financial Decisions of a Firm with Bankruptcy and Default: An Integration
w1092 Alan S. Blinder
A Skeptical Note on the New Econometrics
w1084 Alan S. Blinder
Joseph E. Stiglitz

Money, Credit Constraints, and Economic Activity
t0028 Olivier J. Blanchard
Methods of Solution and Simulation for Dynamic Rational Expectations Models
r0358 Jacob A. Frenkel
"Relative Price Variability and Inflation in the United States and Germany" by Fischer
w1079 Robert J. Barro
David B. Gordon

Rules, Discretion and Reputation in a Model of Monetary Policy
w1077 Robert B. Litterman
Laurence Weiss

Money, Real Interest Rates, and Output: A Reinterpretation of Postwar U.S. Data
w1070 Victor Zarnowitz
Rational Expectations and Macroeconomic Forecasts
w1067 Jacob A. Frenkel
Monetary Policy: Domestic Targets and International Constraints
w1060 Robert J. Barro
Chaipat Sahasakul

Measuring the Average Marginal Tax Rate from the Individual Income Tax
w1059 Behzad T. Diba
Herschel I. Grossman

Rational Asset Price Bubbles
w1054 Ben S. Bernanke
Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression
1982
w1053 Victor Zarnowitz
The Accuracy of Individual and Group Forecasts from Business Outlook Surveys
w1052 Alan S. Blinder
On the Monetization of Deficits
w1050 Bennett T. McCallum
Macroeconomics After a Decade of Rational Expectations: Some Critical Issues
w1048 Frederic S. Mishkin
Are Real Interest Rates Equal Across Countries? An Empirical Investigation of International Parity Conditions
w1047 Frederic S. Mishkin
The Real Interest Rate: A Multi-Country Empirical Study
w1044 John B. Taylor
The Role of Expectations in the Choice of Monetary Policy
w1039 Rudiger Dornbusch
Jacob A. Frenkel

The Gold Standard and the Bank of England in the Crisis of 1847
w1038 Ben S. Bernanke
Adjustment Costs, Durables, and Aggregate Consumption
r0342 Robert J. Gordon
Stephen R. King

The Output Cost of Disinflation in Traditional and Vector AutoregressiveModels
w1015 Robert S. Pindyck
Julio J. Rotemberg

Dynamic Factor Demands Under Rational Expectations
w1010 Herschel I. Grossman
The Natural-Rate Hypothesis, the Rational-Expectations Hypothesis, and the Remarkable Survival of Non-Market-Clearing Assumptions
w1003 Julio J. Rotemberg
Money and the Terms of Trade
w0995 Lawrence H. Summers
Tax Policy, the Rate of Return, and Savings
w0994 Lawrence H. Summers
Do We Really Know That Financial Markets Are Efficient?
w0989 Bennett T. McCallum
The Role of Overlapping-Generations Models in Monetary Economics
w0987 Paul R. Krugman
Torsten Persson
Lars E.O. Svensson

Inflation, Monetary Velocity, and Welfare
w0985 John B. Taylor
Union Wage Settlements During a Disinflation
w0982 Alan S. Blinder
Issues in the Coordination of Monetary and Fiscal Policy
w0978 Julio J. Rotemberg
A Monetary Equilibrium Model with Transactions Costs
w0973 Sanford J. Grossman
Laurence Weiss

A Transactions Based Model of the Monetary Transmission Mechanism: Part 1
w0974 Sanford J. Grossman
A Transactions Based Model of the Monetary Transmission Mechanism: Part 2
w0971 Olivier J. Blanchard
Jeffrey Sachs

Anticipations, Recessions and Policy: An Intertemporal Disequilibrium Model
w0966 Martin Feldstein
The Fiscal Framework of Monetary Policy
w0950 Fischer Black
General Equilibrium and Business Cycles
r0312 Lawrence H. Summers
Measuring Unemployment
w0945 Olivier J. Blanchard
Mark W. Watson

Bubbles, Rational Expectations and Financial Markets
w0941 Philip A. Klein
Geoffrey H. Moore

The Leading Indicator Approach to Economic Forecasting--Retrospect and Prospect
w0936 Stanley Fischer
A Framework for Monetary and Banking Analysis
w0934 Herschel I. Grossman
The American Fiscal Deficit: Facts and Effects
t0024 Olivier J. Blanchard
Identification in Dynamic Linear Models with Rational Expectations
w0912 Robert B. Litterman
Optimal Control of the Money Supply
w0905 Bennett T. McCallum
Are Bond-Financed Deficits Inflationary? A Ricardian Analysis
w0900 Olivier J. Blanchard
Price Asynchronization and Price Level Inertia
w0898 N. Gregory Mankiw
Julio J. Rotemberg
Lawrence H. Summers

Intertemporal Substitution in Macroeconomics
w0894 Bennett T. McCallum
The Liquidity Trap and the Pigou Effect: A Dynamic Analysis with Rational Expectations
w0891 Olivier J. Blanchard
The Production and Inventory Behavior of the American Automobile Industry
w0889 Robert J. Barro
Inflationary Finance under Discrepion and Rules
w0888 Robert J. Barro
Robert G. King

Time-Separable Preference and Intertemporal-Substitution Models of Business Cycles
w0885 Andrew B. Abel
Olivier J. Blanchard

An Intertemporal Model of Saving and Investment
w0883 Robert J. Barro
Measuring the Fed's Revenue from Money Creation
w0882 Fumio Hayashi
The Effect of Liquidity Constraints on Consumption: A Cross-Sectional Analysis
w0874 Stanley Fischer
Welfare Aspects of Government Issue of Indexed Bonds
w0873 Alan S. Blinder
N. Gregory Mankiw

Aggregation and Stabilization Policy in a Multi-Contract Economy
r0253 Jacob A. Frenkel
Assaf Razin

Stochastic Prices and Tests of Efficiency of Foreign Exchange Markets
w0864 Robert E. Hall
Edward P. Lazear

The Excess Sensitivity of Layoffs and Quits to Demand
w0853 Robert G. King
Charles I. Plosser

The Behavior of Money, Credit, and Prices in a Real Business Cycle
w0847 Robert J. Gordon
Wages and Prices Are Not Always Sticky: A Century of Evidence for the United States, United Kingdom, and Japan
w0845 Victor Zarnowitz
Expectations and Forecasts from Business Outlook Surveys
w0832 Jacob A. Frenkel
Carlos A. Rodriguez

Exchange Rate Dynamics and the Overshooting Hypothesis
hall82-1 Robert E. Hall
editor

Inflation: Causes and Effects
1981
w0823 Peter M. Garber
The Lender of Last Resort and the Run on the Savings and Loans
w0818 John H. Makin
Real Interest, Money Surprises and Anticipated Inflation
w0812 John F. Boschen
Herschel I. Grossman

Employment Effects of the Federal Minimum Wage
w0809 Robert J. Gordon
Why U.S. Wage and Employment Behavior Differs from That in Britain and Japan
w0807 Robert J. Barro
David B. Gordon

A Positive Theory of Monetary Policy in a Natural-Rate Model
w0789 Frederic S. Mishkin
Does Anticipated Aggregate Demand Policy Matter? Further Econometric results.
w0783 Stanley Fischer
Seigniorage and Fixed Exchange Rates: An Optimal Inflation Tax Analysis
w0558 John F. Boschen
Herschel I. Grossman

Tests of Equilibrium Macroeconomics Using Contemporaneous Monetary Data
w0279 Alan S. Blinder
William J. Newton

The 1971-1974 Controls Program and The Price Level: An Econometric Post-Mortem
w0761 Alan J. Auerbach
The Index of Leading Indicators: "Measurement without Theory," Twenty-Five Years Later
w0756 Ben S. Bernanke
Permanent Income, Liquidity, and Expenditure on Automobiles: Evidence from Panel Data
w0748 Jacob A. Frenkel
Joshua Aizenman

Aspects of the Optimal Management of Exchange Rates
w0744 Robert J. Gordon
Price Inertia and Policy Ineffectiveness in the United States, 1890-1980
w0728 Peter M. Garber
Transition from Inflation to Price Stability
w0726 Andrew B. Abel
Frederic S. Mishkin

An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy
r0198 John B. Taylor
Stabilization, Accommodation, and Monetary Rules
r0191 Robert J. Gordon
The Consumer Price Index: Measuring Inflation and Causing It
w0721 Jerry R. Green
Seppo Honkapohja

Bilateral Contracts
w0720 Robert E. Hall
Intertemporal Substitution in Consumption
w0716 Ray C. Fair
A Comment on Feldstein's Fisher-Schultz Lecture
w0712 Ben S. Bernanke
The Sources of Labor Productivity Variation in U.S. Manufacturing, 1947-80
w0708 Robert J. Gordon
Inflation, Flexible Exchange Rates, and the Natural Rate of Unemployment
w0693 Frederic S. Mishkin
Monetary Policy and Short-Term Interest Rates: An Efficient Markets-Rational Expectations Approach
w0691 Robert P. Flood
Peter M. Garber

A Systematic Banking Collapse in a Perfect Foresight World
w0684 Bennett T. McCallum
On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective
r0170 Jerry R. Green
On the Theory of Effective Demand
w0680 Martin Feldstein
Inflation, Capital Taxation, and Monetary Policy
w0679 Martin Feldstein
Has the Rate of Investment Fallen?
w0677 Ray C. Fair
Estimated Output, Price, Interest Rate, and Exchange Rate Linkages amongCountries
w0675 Jerry R. Green
Charles M. Kahn

Wage-Employment Contracts: Global Results
w0670 Stanley Fischer
Indexing and Inflation
w0665 Victor Zarnowitz
Business Cycles and Growth: Some Reflections and Measures
w0653 Herschel I. Grossman
Indexation of the Minimum Wage with Rational Expectations
w0652 John F. Boschen
Herschel I. Grossman

The Federal Minimum Wage, Inflation, and Employment
r0155 Herschel I. Grossman
Rational Expectations, Business Cycles, and Government Behavior
w0636 Robert J. Barro
On the Predictability of Tax-Rate Changes
w0635 Robert P. Flood
Peter M. Garber

Process Consistency and Monetary Reform: Further Evidence and Implications
w0630 Bennett T. McCallum
Monetarist Principles and the Money Stock Growth Rule
w0623 Jerry R. Green
Wage-Employment Contracts (Replaced by W0675)
w0622 Frederic S. Mishkin
The Real Interest Rate: An Empirical Investigation
w0621 Robert J. Gordon
Output Fluctuations and Gradual Price Adjustment
w0620 Alan S. Blinder
Inventories and Sticky Prices: More on the Microfoundations of Macroeconomics
w0619 Alan S. Blinder
Roger H. Gordon
Donald E. Wise

Social Security, Bequests, and the Life Cycle Theory of Saving: Cross-Sectional Tests
1980
w0608 Victor Zarnowitz
On Functions, Quality, and Timeliness of Economic Information
w0605 Lawrence H. Summers
Tax Policy and Corporate Investment
w0604 Lawrence H. Summers
Inflation, Taxation, and Corporate Investment: A q-Theory Approach
w0596 Andrew B. Abel
Accelerated Depreciation and the Efficacy of Temporary Fiscal Policy: Implications for an Inflationary Economy
r0126 John B. Taylor
Aggregate Dynamics and Staggered Contracts
r0113 John B. Taylor
Output and Price Stability: An International Comparison
w0575 Jacob A. Frenkel
Michael L. Mussa

Monetary and Fiscal Policies in an Open Economy
w0569 Jacob A. Frenkel
The Collapse of Purchasing Power Parities during the 1970s
w0562 Alan S. Blinder
Roger H. Gordon
Donald E. Wise

Reconsidering the Work Disincentive Effects of Social Security
w0560 Robert E. Hall
The Importance of Lifetime Jobs in the U.S. Economy
w0559 Bennett T. McCallum
Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations
t0005 Ray C. Fair
John B. Taylor

Solution and Maximum Likelihood Estimation of Dynamic Nonlinear RationalExpectations Models
w0551 Jon Frye
Robert J. Gordon

The Variance and Acceleration of Inflation in the 1970s: Alternative Explanatory Models and Methods
w0550 Jon Frye
Robert J. Gordon

Government Intervention in the Inflation Process: The Econometrics of "Self-Inflicted Wounds"
w0544 Robert P. Flood
Peter M. Garber

Gold Monetization and Gold Discipline
r0093 Robert E. Hall
Stabilization Policy and Capital Formation
r0092 Robert E. Hall
Employment Fluctuations and Wage Rigidity
w0538 Ray C* Fair
Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy
w0534 Herschel I. Grossman
Incomplete Information, Risk Shifting, and Employment Fluctuations
w0518 Zvi Hercowitz
Anticipated Inflation, the Frequency of Transactions, and the Slope of the Phillips Curve
w0517 Frederic S. Mishkin
Monetary Policy and Long-Term Interest Rates: An Efficient Markets Approach
w0515 Alan S. Blinder
Inventories and the Structure of Macro Models
w0507 Frederic S. Mishkin
Are Market Forecasts Rational?
w0506 Frederic S. Mishkin
Does Anticipated Monetary Policy Matter? An Econometric Investigation
w0505 Robert E. Hall
Frederic S. Mishkin

The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households
w0503 Dennis W. Carlton
Modeling Price Rigidity or Predicting the Quality of the Good that Clears the Market
w0502 Ben S. Bernanke
Irreversibility, Uncertainty, and Cyclical Investment
w0498 John F. Boschen
Herschel I. Grossman

Monetary Information and Macroeconomic Fluctuations
w0496 Jerry R. Green
Taxation and the Ex-Dividend Day Behavior of Common Stock Prices
w0491 Alan J. Auerbach
Jerry R. Green

Components of Manufacturing Inventories
w0490 Robert J. Barro
Intertemporal Substitution and the Business Cycle
w0489 Christopher A. Sims
Martingale-Like Behavior of Prices
w0488 Alan S. Blinder
The Level and Distribution of Economic Well-Being
w0464 Alan S. Blinder
Monetary Accommodation of Supply Shocks under Rational Expectations
w0460 Alan S. Blinder
Inventories in the Keynesian Macro Model
w0459 Robert J. Gordon
Postwar Macroeconomics: The Evolution of Events and Ideas
w0455 Robert J. Gordon
A Consistent Characterization of a Near-Century of Price Behavior
w0453 Jerry R. Green
Jean-Jacques Laffont

Disequilibrium Dynamics with Inventories and Anticipatory Price-Setting:Some Impirical Results
w0452 Jacob A. Frenkel
Exchange Rates, Prices and Money: Lessons from the 1920s
w0450 Jacob A. Frenkel
Flexible Exchange Rates in the 1970's
w0448 Martin Feldstein
The Distribution of the U.S. Capital Stock Between Residential and Industrial Uses
w0443 Robert J. Barro
Federal Deficit Policy and the Effects of Public Debt Shocks
w0440 Jonathan S. Leonard
Wage Expectations in the Labor Market: Survey Evidence on Rationality
w0435 Martin Feldstein
Government Deficits and Aggregate Demand
w0433 Zvi Hercowitz
Money and Price Dispersion in the United States
w0432 Robert J. Barro
Output Effects of Government Purchases
w0431 Zvi Hercowitz
Money and the Dispersion of Relative Prices
w0430 Christopher A. Sims
Comparison of Interwar and Postwar Business Cycles: Monetarism Reconsidered
w0427 Robert J. Gordon
The "End-of-Expansion" Phenomenon in Short-run Productivity Behavior
w0425 Dennis W. Carlton
Planning and Market Structure
w0424 Herschel I. Grossman
Risk Shifting, Unemployment Insurance, and Layoffs
1979
w0418 Robert J. Gordon
Monetary Policy and the 1979 Supply Shock
w0414 Ray C. Fair
A Multicountry Econometric Model (Revised)
t0001 Seppo Honkapohja
Takatoshi Ito

A Stochastic Approach to Disequilibrium Macroeconomics
w0386 Robert E. Hall
The Role of Prevailing Prices and Wages in the Efficient Organization of Markets
w0385 Robert E. Hall
Labor Supply and Aggregate Fluctuations
w0381 Alan S. Blinder
Stanley Fischer

Inventories, Rational Expectations, and the Business Cycle
w0369 Knut Anton Mork
Robert E. Hall

Energy Prices, Inflation, and Recession, 1974-1975
w0361 Robert J. Gordon
New Evidence That Fully Anticipated Monetary Changes Influence Real Output After All
w0343 C. Gourieroux
Jean-Jacques Laffont
A. Monfort

Coherency Conditions In Simultaneous Linear Equation Models With Endogenous Switching Regimes
w0341 Stanley Fischer
On Activist Monetary Policy With Rational Expectations
w0339 Robert J. Barro
Mark Rush

Unanticipated Money and Economic Activity
r0015 Robert E. Hall
Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence
r0010 Victor Zarnowitz
An Analysis of Annual and Multiperiod Quarterly Forecasts of Aggregate Income, Output, and the Price Level
r0009 Geoffrey H. Moore
The Current State of the International Business Cycle: A New MeasurementSystem
r0001 Geoffrey H. Moore
Wesley Mitchell in Retrospect
w0329 Robert J. Barro
Zvi Hercowitz

Money Stock Revisions and Unanticipated Money Growth
w0326 Robert J. Barro
A Capital Market In an Equilibrium Business Cycle Model
w0322 Seppo Honkapohja
Takatoshi Ito

Non-Trivial Equilibrium in an Economy With Stochastic Rationing
w0318 Victor Zarnowitz
Information, Measurement, And Prediction In Economics
w0313 Takatoshi Ito
A Note on Stochastic Rationing Mechanisms
1978
w0306 Robert E. Hall
David M. Lilien

Efficient Wage Bargains Under Uncertain Supply and Demand
w0304 Jeffrey D. Sachs
The Changing Cyclical Behavior of Wages and Prices: 1890-1976
w0303 Stanley Fischer
Franco Modigliani

Towards An Understanding of the Real Effects and Costs of Inflation
w0300 Robert J. Gordon
James A. Wilcox

Monetarist Interpretations of the Great Depression: An Evaluation and Critique
w0290 Jacob A. Frenkel
Kenneth W. Clements

Exchange Rates in The 1920's: A Monetary Approach
w0288 Jacob A. Frenkel
Boyan Jovanovic

On Transactions and Precautionary Demand For Money
w0284 Benjamin M. Friedman
Crowding Out Or Crowding In? The Economic Consequences of Financing Government Deficits
w0283 Alan S. Blinder
Temporary Income Taxes and Consumer Spending
w0252 Robert E. Hall
The Nature and Measurement of Unemployment
w0251 Robert E. Hall
A Theory of the Natural Unemployment Rate and the Duration of Employment
w0229 Victor Zarnowitz
On the Accuracy and Properties of Recent Macroeconomic Forecasts
1977
w0226 Robert E. Hall
Fluctuation in Equilibrium Unemployment
w0201 Martin Feldstein
The Welfare Cost of Permanent Inflation and Optimal Short-Run Economic Policy
w0188 Jerry R. Green
Notes on the Public Debt and Social Insurance
1975
w0074 Robert T. Michael
Variation Across Household in the Rate of Inflation
1972
hick72-1 Bert G. Hickman
editor

Econometric Models of Cyclical Behavior, Volumes 1 and 2
1971
reus71-1 NBER
Supplement to NBER Report Seven
1970
thor70-1 Erik Thorbecke
editor

The Role of Agriculture in Economic Development
1967
ture67-1 Norman B. Ture
Accelerated Depreciation in the United States, 1954-60
1965
hult65-1 Thor Hultgren
assisted by Maude R. Pech

Cost, Prices, and Profits: Their Cyclical Relations
1961
repo61-1 Price Statistics Review Committee
The Price Statistics of the Federal Goverment
1960
hult60-1 Thor Hultgren
Changes in Labor Cost during Cycles in Production and Business
1955
hick55-1 Bert G. Hickman
The Korean War and United States Economic Activity, 1950-1952
1950
hult50-1 Thor Hultgren
Cyclical Diversities in the Fortunes of Industrial Corporations
1948
hult48-1 Thor Hultgren
American Transportation in Prosperity and Depression
hann48-1 Frank A. Hanna
Joseph A. Pechman
and Sidney M. Lerner

Analysis of Wisconsin Income
1943
hult43-1 Thor Hultgren
Railroad Travel and the State of Business
1942
hult42-1 Thor Hultgren
Railway Freight Traffic in Prosperity and Depression
habe42-1 Gottfried Haberler
Consumer Instalment Credit and Economic Fluctuations

browse recent papers


Generated on Mon Jun 7 00:00:05 2021

 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us