Publication Information
Working Papers
Working Paper 750 (April 2018)
Firming Up InequalityJae Song, David J. Price, Fatih Guvenen, Nicholas Bloom, and Till von Wachter
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Working Paper 749 (Revised March 2018)
Accounting for Factorless IncomeLoukas Karabarbounis and Brent Neiman
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Working Paper 734 (Revised February 2018)
Turnover Liquidity and the Transmission of Monetary PolicyRicardo Lagos and Shengxing Zhang
PDF Version
Working Paper 748 (January 2018)
Slow Convergence in Economies with Organization CapitalErzo G.J. Luttmer
PDF Version
Working Paper 747 (January 2018)
Fiscal Implications of the Federal Reserve's Balance Sheet NormalizationMichele Cavallo, Marco Del Negro, W. Scott Frame, Jamie Grasing, Benjamin A. Malin, and Carlo Rosa
PDF Version
Working Paper 746 (December 2017)
Inferring Inequality with Home ProductionJob Boerma and Loukas Karabarbounis
PDF Version
Working Paper 745 (December 2017)
Ramsey Taxation in the Global EconomyV. V. Chari, Juan Pablo Nicolini, and Pedro Teles
PDF Version
Working Paper 744 (November 2017)
Monitoring Money for Price StabilityConstantino Hevia and Juan Pablo Nicolini
Published In: Journal of Economic Dynamics and Control (89, April 2018, pp. 50-63)
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Working Paper 743 (November 2017)
Real Exchange Rates and Primary Commodity PricesJoao Luiz Ayres, Constantino Hevia, and Juan Pablo Nicolini
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Working Paper 740 (Revised October 2017)
Exchange Rate Policies at the Zero Lower BoundManuel Amador, Javier Bianchi, Luigi Bocola, and Fabrizio Perri
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Working Paper 742 (September 2017)
A Model of Secular Stagnation: Theory and Quantitative EvaluationGauti B. Eggertsson, Neil Mehrotra, and Jacob A. Robbins
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Working Paper 741 (September 2017)
Small and Large Firms over the Business CycleNicolas Crouzet and Neil Mehrotra
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Working Paper 736 (Revised March 2017)
The Global Rise of Corporate SavingPeter Chen, Loukas Karabarbounis, and Brent Neiman
PDF Version
Working Paper 739 (March 2017)
Indivisibilities in DistributionThomas J. Holmes and Ethan Singer
PDF Version
Working Paper 728 (Revised February 2017)
Capital Allocation and Productivity in South EuropeGita Gopinath, Şebnem Kalemli-Özcan, Loukas Karabarbounis, and Carolina Villegas-Sanchez
PDF Version
Working Paper 737 (February 2017)
International Evidence on Long-Run Money DemandLuca Benati, Robert E. Lucas, Jr., Juan Pablo Nicolini, and Warren E. Weber
PDF Version
Working Paper 738 (February 2017)
Online Appendix for: International Evidence on Long-Run Money DemandLuca Benati, Robert E. Lucas, Jr., Juan Pablo Nicolini, and Warren E. Weber
PDF Version
Working Paper 735 (November 2016)
International Reserves and Rollover RiskJavier Bianchi, Juan Carlos Hatchondo, and Leonardo Martinez
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Working Paper 707 (Revised June 2016)
The Age-Time-Cohort Problem and the Identification of Structural Parameters in Life-Cycle ModelsSam Schulhofer-Wohl
PDF Version
Working Paper 732 (June 2016)
Inflation at the Household Level: Web AppendixGreg Kaplan and Sam Schulhofer-Wohl
Published In: Journal of Monetary Economics (91, November 2017, pp. 19-38)
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Working Paper 731 (June 2016)
Inflation at the Household LevelGreg Kaplan and Sam Schulhofer-Wohl
Published In: Journal of Monetary Economics (91, November 2017, pp. 19-38)
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Working Paper 733 (April 2016)
The Limited Macroeconomic Effects of Unemployment Benefit ExtensionsLoukas Karabarbounis and Gabriel Chodorow-Reich
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Working Paper 730 (January 2016)
Efficient Bailouts?Javier Bianchi
Published In: American Economic Review (Vol. 106, No. 12, December 2016, pp. 3607-3659)
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Working Paper 697 (Revised October 2015)
Understanding the Long-Run Decline in Interstate MigrationGreg Kaplan and Sam Schulhofer-Wohl
Published In: International Economic Review (Vol. 58, No. 1, February 2017, pp. 57-94)
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Working Paper 729 (September 2015)
Multidimensional Skill MismatchFatih Guvenen, Burhanettin Kuruscu, David Wiczer, and Satoshi Tanaka
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Working Paper 717 (Revised September 2015)
Equilibrium with Mutual Organizations in Adverse Selection EconomiesAdam Blandin, John H. Boyd, and Edward C. Prescott
Published In: Economic Theory (Vol. 62, No. 1, June 2016, pp. 3-13)
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Working Paper 718 (Revised September 2015)
On the Stability of Money DemandRobert E. Lucas, Jr. and Juan Pablo Nicolini
Published In: Journal of Monetary Economics (Vol. 73, July 2015, pp. 48-65)
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Working Paper 727 (July 2015)
Equilibrium Labor Market Search and Health Insurance ReformNaoki Aizawa and Hanming Fang
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Working Paper 726 (June 2015)
Monetary Policy and Dutch Disease: The Case of Price and Wage RigidityConstantino Hevia and Juan Pablo Nicolini
Published In: Series in Central Banking of the Central Bank of Chile (Vol. 22, Chapter 2, 2016, pp. 51-90)
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Working Paper 725 (June 2015)
Understanding the Long-Run Decline in Interstate Migration: Online AppendixGreg Kaplan and Sam Schulhofer-Wohl
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Working Paper 724 (May 2015)
Four Models of Knowledge Diffusion and GrowthErzo G.J. Luttmer
PDF Version
Working Paper 723 (May 2015)
Sovereign Default: The Role of ExpectationsJuan Pablo Nicolini, Pedro Teles, Joao Luiz Ayres, and Gaston Navarro
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Working Paper 722 (April 2015)
The Pass-Through of Sovereign RiskLuigi Bocola
Published In: Journal of Political Economy (Vol. 124, No. 4, 2016, pp. 879-926)
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Working Paper 720 (February 2015)
Stock Market Volatility and LearningKlaus Adam, Albert Marcet, and Juan Pablo Nicolini
Published In: Journal of Finance (Vol. 71, No. 1, February 2016, pp. 33-82)
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Working Paper 721 (February 2015)
Measuring Job-Finding Rates and Matching Efficiency with Heterogeneous JobseekersRobert E. Hall and Sam Schulhofer-Wohl
PDF Version
Working Paper 719 (January 2015)
What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?Fatih Guvenen, Fatih Karahan, Serdar Ozkan, and Jae Song
PDF Version
Working Paper 712 (Revised October 2014)
The Illusion of School Choice: Empirical Evidence from BarcelonaMaia Guell and Caterina Calsamiglia
PDF Version
Working Paper 716 (October 2014)
The Glass Ceiling and the Paper Floor: Gender Differences among Top Earners, 1981–2012Fatih Guvenen, Greg Kaplan, and Jae Song
PDF Version
Working Paper 715 (September 2014)
An Assignment Model of Knowledge Diffusion and Income InequalityErzo G.J. Luttmer
PDF Version
Working Paper 714 (July 2014)
Liquidity Traps and Monetary Policy: Managing a Credit CrunchJuan Pablo Nicolini and Francisco Buera
PDF Version
Working Paper 713 (May 2014)
Is There a Stable Relationship between Unemployment and Future Inflation? Evidence from U.S. CitiesJuan Pablo Nicolini and Terry J. Fitzgerald
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Working Paper 711 (April 2014)
The Over-the-Counter Theory of the Fed Funds Market: A PrimerRicardo Lagos and Gara Afonso
PDF Version
Working Paper 710 (March 2014)
Trade Dynamics in the Market for Federal FundsRicardo Lagos and Gara Afonso
PDF Version
Working Paper 709 (March 2014)
Search-Based Models of Money and Finance: An Integrated ApproachRandall Wright and Alberto Trejos
Published In: Journal of Economic Theory (Vol. 164, July 2016, pp. 10-31)
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Working Paper 708 (March 2014)
An Empirical Study of Trade Dynamics in the Fed Funds MarketRicardo Lagos and Gara Afonso
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Working Paper 700 (Revised September 2013)
Migration, Congestion Externalities, and the Evaluation of Spatial InvestmentsSam Schulhofer-Wohl and Taryn Dinkelman
PDF Version
Working Paper 706 (June 2013)
Portfolio Choices and Risk Preferences in Village EconomiesRobert Townsend, Sam Schulhofer-Wohl, Pierre-Andre Chiappori, and Krislert Samphantharak
PDF Version
Working Paper 705 (April 2013)
Reconciling Consumption Inequality with Income InequalityVadym Lepetyuk and Christian A. Stoltenberg
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Working Paper 704 (April 2013)
Women’s Emancipation through Education: A Macroeconomic AnalysisFatih Guvenen and Michelle Rendall
Published In: Review of Economic Dynamics (Vol. 18, Issue 4, October 2015, pp. 931-956)
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Working Paper 703 (February 2013)
The Stolper-Samuelson Effects of a Decline in Aggregate ConsumptionErzo G.J. Luttmer
PDF Version
Working Paper 702 (February 2013)
Optimal DevaluationsJuan Pablo Nicolini and Constantino Hevia
Published In: IMF Economic Review (Vol. 61, 2013, pp. 22-51)
PDF Version
Working Paper 693 (Revised November 2012)
Catch-up Growth Followed by Stagnation: Mexico, 1950–2010Timothy J. Kehoe and Felipe Meza
Published In: Latin American Journal of Economics (Vol. 48, No. 2, November 2011, pp. 227-268)
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Working Paper 701 (September 2012)
Real-Time Forecasting with a Mixed-Frequency VARFrank Schorfheide and Dongho Song
PDF Version
Working Paper 699 (August 2012)
Eventually, Noise and Imitation Implies Balanced GrowthErzo G.J. Luttmer
PDF Version
Working Paper 698 (August 2012)
Unconventional Fiscal Policy at the Zero BoundIsabel Correia, Juan Pablo Nicolini, Pedro Teles, and Emmanuel Farhi
Published In: American Economic Review (Vol. 103, No. 4, June 2013)
PDF Version
Working Paper 683 (Revised July 2012)
Heterogeneity and Risk Sharing in Village EconomiesRobert Townsend, Sam Schulhofer-Wohl, Pierre-Andre Chiappori, and Krislert Samphantharak
PDF Version
Working Paper 694 (Revised May 2012)
The Labor Productivity PuzzleEdward C. Prescott and Ellen R. McGrattan
Published In: Government Policies and the Delayed Economic Recovery (Hoover Institution Press, 2012, pp. 115-154)
PDF Version
Working Paper 696 (Revised March 2012)
Slow Convergence in Economies with Firm HeterogeneityErzo G.J. Luttmer
PDF Version
Working Paper 695 (February 2012)
Clearing Arrangements in the United States before the Federal Reserve SystemWarren E. Weber
PDF Version
Working Paper 679 (Revised December 2011)
Bank Liability Insurance Schemes Before 1865Warren E. Weber
PDF Version
Working Paper 692 (November 2011)
On Efficiently Financing RetirementEdward C. Prescott and Ellen R. McGrattan
PDF Version
Working Paper 687 (Revised November 2011)
Technology Capital TransferEdward C. Prescott, Ellen R. McGrattan, and Thomas J. Holmes
PDF Version
Working Paper 690 (October 2011)
Sticky Prices: A New Monetarist ApproachRandall Wright, Allen Head, Lucy Qian Liu, and Guido Menzio
PDF Version
Working Paper 691 (October 2011)
Buyers, Sellers and Middlemen: Variations in Search TheoryRandall Wright and Yuet-Yee Wong
PDF Version
Working Paper 688 (October 2011)
Innovation and Growth with Financial, and other, FrictionsRandall Wright, Jonathan Chiu, and Cesaire Meh
Published In: International Economic Review (Vol. 58, No. 1, February 2017, pp. 95-125)
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Working Paper 689 (October 2011)
Endogenous Credit CyclesRandall Wright and Chao Gu
PDF Version
Working Paper 686 (April 2011)
Do Newspapers Matter? Short-Run and Long-Run Evidence from the Closure of The Cincinnati PostSam Schulhofer-Wohl and Miguel Garrido
PDF Version
Working Paper 685 (April 2011)
Costly Financial Intermediation in Neoclassical Growth TheoryEdward C. Prescott, Rajnish Mehra, and Facundo Piguillem
Published In: Quantitative Economics (Vol. 2, No. 1, March 2011, pp. 1-36)
PDF Version
Working Paper 684 (March 2011)
Intergenerational Redistribution in the Great RecessionDirk Krueger, José-Víctor Ríos-Rull, Jonathan Heathcote, and Andrew Glover
PDF Version
Working Paper 682 (December 2010)
Negative Equity Does Not Reduce Homeowners' MobilitySam Schulhofer-Wohl
Published In: Quarterly Review (Vol. 35, No. 1, February 2012, pp. 2-14)
PDF Version
Working Paper 681 (Revised November 2010)
Interstate Migration Has Fallen Less Than You Think: Consequences of Hot Deck Imputation in the Current Population SurveyGreg Kaplan and Sam Schulhofer-Wohl
PDF Version
Working Paper 680 (August 2010)
Short and Long Interest Rate TargetsIsabel Correia, Pedro Teles, and Bernardino Adão
PDF Version
Working Paper 678 (April 2010)
Models of Growth and Firm HeterogeneityErzo G.J. Luttmer
Published In: Annual review of Economics (Vol. 2, pp. 547-576)
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Working Paper 672 (Revised March 2010)
Technology Diffusion and GrowthErzo G.J. Luttmer
Published In: Journal of Economic Theory (Vol. 147, No. 2, March 2012, pp. 602-622)
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Working Paper 677 (March 2010)
Moving Back Home: Insurance Against Labor Market RiskGreg Kaplan
PDF Version
Working Paper 676 (December 2009)
A Simple Model of Bank Employee CompensationChristopher Phelan
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Working Paper 671 (Revised November 2009)
Transition to FDI OpennessEllen R. McGrattan
PDF Version
Working Paper 675 (October 2009)
Boomerang Kids: Labor Market Dynamics and Moving Back HomeGreg Kaplan
PDF Version
Working Paper 674 (September 2009)
Risk Sharing, Inequality, and FertilityLarry E. Jones, Ali Shourideh, and Roozbeh Hosseini
PDF Version
Working Paper 668 (Revised June 2009)
Economies of Density versus Natural Advantage: Crop Choice on the Back FortyThomas J. Holmes and Sanghoon Lee
Published In: The Review of Economics and Statistics (Vol. 94, No. 1, February 2012, pp. 1-19)
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Working Paper 670 (Revised April 2009)
Capital Taxation During the U.S. Great DepressionEllen R. McGrattan
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Working Paper 669 (March 2009)
A Theory of Outsourcing and Wage DeclineThomas J. Holmes and Julia Thornton Snider
PDF Version
Working Paper 667 (October 2008)
Technical Notes on Facts and Myths about the Financial Crisis of 2008Maxim Troshkin
PDF Version
Working Paper 659 (Revised October 2008)
Sophisticated Monetary PoliciesPatrick J. Kehoe, V. V. Chari, and Andrew Atkeson
PDF Version
Working Paper 666 (October 2008)
Facts and Myths about the Financial Crisis of 2008Patrick J. Kehoe, V. V. Chari, and Lawrence J. Christiano
PDF Version
Working Paper 665 (September 2008)
Business Start-Ups and Productive EfficiencyHakki Yazici
PDF Version
Working Paper 673 (September 2008)
Prizes and Patents: Using Market Signals to Provide Incentives for InnovationsV. V. Chari, Aleh Tsyvinski, and Mikhail Golosov
PDF Version
Working Paper 664 (July 2008)
New Keynesian Models: Not Yet Useful for Policy AnalysisEllen R. McGrattan, Patrick J. Kehoe, and V. V. Chari
PDF Version
Working Paper 663 (June 2008)
Accounting for Private InformationPricila Maziero and Laurence Ales
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Working Paper 662 (May 2008)
On the Need for a New Approach to Analyzing Monetary PolicyPatrick J. Kehoe and Andrew Atkeson
PDF Version
Working Paper 661 (May 2008)
Temporary Price Changes and the Real Effects of Monetary PolicyPatrick J. Kehoe and Virgiliu Midrigan
PDF Version
Working Paper 646 (Revised April 2008)
Technology Capital and the U.S. Current AccountEdward C. Prescott and Ellen R. McGrattan
PDF Version
Working Paper 660 (April 2008)
Taxation, Aggregates and the HouseholdGustavo Ventura, Nezih Guner, and Remzi Kaygusuz
PDF Version
Working Paper 658 (March 2008)
Coin Sizes and Payments in Commodity Money SystemsWarren E. Weber and Angela Redish
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Working Paper 657 (February 2008)
On the Mechanics of Firm GrowthErzo G.J. Luttmer
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Working Paper 656 (October 2007)
Sticky Prices and Sectoral Real Exchange RatesPatrick J. Kehoe and Virgiliu Midrigan
PDF Version
Working Paper 653 (Revised October 2007)
Asymmetric Expectation Effects of Regime Shifts and the Great ModerationZheng Liu, Daniel F. Waggoner, and Tao Zha
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Working Paper 655 (September 2007)
Intermediated Quantities and ReturnsEdward C. Prescott, Rajnish Mehra, and Facundo Piguillem
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Working Paper 654 (September 2007)
Reply to SolowPatrick J. Kehoe and V. V. Chari
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Working Paper 644 (Revised August 2007)
Investment-Specific Technological Change, Skill Accumulation, and Wage InequalityZheng Liu and Hui He
Published In: Review of Economic Dynamics (Vol. 11, Issue 2, April 2008, pp. 314-334)
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Working Paper 651 (April 2007)
Openness, Technology Capital, and DevelopmentEdward C. Prescott and Ellen R. McGrattan
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Working Paper 652 (April 2007)
Sales and the Real Effects of Monetary PolicyPatrick J. Kehoe and Virgiliu Midrigan
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Working Paper 650 (March 2007)
If Exchange Rates Are Random Walks Then Almost Everything We Say About Monetary Policy Is WrongPatrick J. Kehoe, Andrew Atkeson, and Fernando Alvarez
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Working Paper 649 (January 2007)
New Goods and the Size Distribution of FirmsErzo G.J. Luttmer
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Working Paper 648 (December 2006)
On the Needed Quantity of Government DebtEdward C. Prescott and Kathryn Birkeland
Published In: Quarterly Review (Vol. 31, November 2007, pp. 2-15)
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Working Paper 647 (December 2006)
Comparing Alternative Representations, Methodologies, and Decompositions in Business Cycle AccountingEllen R. McGrattan, Patrick J. Kehoe, and V. V. Chari
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Working Paper 645 (October 2006)
Consumer Search and Firm GrowthErzo G.J. Luttmer
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Working Paper 635 (Revised August 2006)
Consumption Over the Life Cycle? How Different Is Housing?Fang Yang
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Working Paper 642 (Revised July 2006)
New Evidence on State Banking Before the Civil WarWarren E. Weber
PDF Version
Working Paper 643 (July 2006)
Measurement with Minimal TheoryEllen R. McGrattan
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Working Paper 641 (Revised March 2006)
A Model of Banknote DiscountsWarren E. Weber, Francesca Carapella, Pricila Maziero, and Laurence Ales
Published In: Journal of Economic Theory (Vol. 142, No. 1, September 2008, pp. 5-27)
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Working Paper 640 (Revised December 2005)
Dynamic Contracting, Persistent Shocks and Optimal TaxationYuzhe Zhang
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Working Paper 634 (Revised December 2005)
Early State Banks in the United States: How Many Were There and When Did They Exist?Warren E. Weber
Published In: Journal of Economic History (Vol. 66, No. 6, June 2006, pp. 433-455)
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Working Paper 627 (Revised October 2005)
Time-Varying Risk, Interest Rates and Exchange Rates in General EquilibriumPatrick J. Kehoe, Andrew Atkeson, and Fernando Alvarez
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Working Paper 639 (October 2005)
Stochastic Optimal Growth with a Non-Compact State SpaceYuzhe Zhang
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Working Paper 638 (September 2005)
Accounting for the Heterogeneity in Retirement WealthFang Yang
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Working Paper 636 (Revised September 2005)
Expensed and Sweat EquityEdward C. Prescott and Ellen R. McGrattan
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Working Paper 637 (August 2005)
Smooth Nonexpected Utility without State IndependenceHengjie Ai
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Working Paper 631 (Revised May 2005)
A Critique of Structural VARs Using Real Business Cycle TheoryEllen R. McGrattan, Patrick J. Kehoe, and V. V. Chari
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Working Paper 633 (Revised July 2004)
The Size Distribution of Firms in an Economy with Fixed and Entry CostsErzo G.J. Luttmer
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Working Paper 632 (June 2004)
Taxation, Entrepreneurship and WealthMariacristina De Nardi and Marco Cagetti
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Working Paper 630 (January 2004)
Efficiency with Endogenous Population GrowthLarry E. Jones, Michele Tertilt, and Mikhail Golosov
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Working Paper 629 (October 2003)
Banknote Prices in the United States Prior to 1860Warren E. Weber
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Working Paper 620 (Revised August 2003)
Entrepreneurship, Frictions and WealthMariacristina De Nardi and Marco Cagetti
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Working Paper 628 (January 2003)
Designing Optimal Disability InsuranceAleh Tsyvinski and Mikhail Golosov
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Working Paper 617 (Revised January 2003)
Consumer Bankruptcy: A Fresh StartIgor Livshits, James MacGee, and Michele Tertilt
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Working Paper 626 (November 2002)
The Optimal Degree of Discretion in Monetary PolicyPatrick J. Kehoe, Andrew Atkeson, and Susan Athey
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Working Paper 624 (September 2002)
Equilibrium and Government CommitmentMarco Bassetto
Published In: Journal of Economic Theory (Vol. 124, No. 1, September 2005, pp. 79-105)
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Working Paper 623 (September 2002)
Banknote Exchange Rate in the Antebellum United StatesWarren E. Weber
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Working Paper 619 (May 2002)
Technical Appendix: Accounting for the Great DepressionEllen R. McGrattan, Patrick J. Kehoe, and V. V. Chari
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Working Paper 622 (May 2002)
On the Robustness of HerdsPatrick J. Kehoe and V. V. Chari
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Working Paper 625 (April 2002)
Business Cycle AccountingEllen R. McGrattan, Patrick J. Kehoe, and V. V. Chari
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Working Paper 621 (April 2002)
Competitive Equilibria with Limited EnforcementPatrick J. Kehoe and Fabrizio Perri
PDF Version
Working Paper 616 (Revised April 2002)
The Time Consistency of Monetary and Fiscal PoliciesPatrick J. Kehoe, Fernando Alvarez, and Pablo Neumeyer
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Working Paper 619 (February 2002)
Accounting for the Great DepressionEllen R. McGrattan, Patrick J. Kehoe, and V. V. Chari
Published In: AER, Papers and Proceedings (Vol. 92, No. 2, May 2002, pp. 22-27)
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Working Paper 618 (January 2002)
Prosperity and Depression: 2002 Richard T. Ely LectureEdward C. Prescott
Published In: American Economic Review (Vol. 92, No. 2, May 2002, pp. 1-15)
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Working Paper 614 (Revised October 2001)
The advantage of transparent instruments of monetary policyPatrick J. Kehoe and Andrew Atkeson
PDF Version
Working Paper 606 (Revised July 2001)
The Transition to a New Economy After the Second Industrial RevolutionPatrick J. Kehoe and Andrew Atkeson
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Working Paper 610 (Revised July 2001)
Taxes, Regulations, and Asset PricesEdward C. Prescott and Ellen R. McGrattan
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Working Paper 615 (June 2001)
Optimal Indirect and Capital TaxationNarayana Kocherlakota, Aleh Tsyvinski, and Mikhail Golosov
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Working Paper 597 (Revised May 2001)
New Deal Policies and the Persistence of the Great Depression: A General Equilibrium AnalysisLee E. Ohanian and Harold L. Cole
Published In: Journal of Political Economy (Vol. 112, No. 4, 2004, pp. 779-816)
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Working Paper 613 (April 2001)
On the optimality of transparent monetary policyPatrick J. Kehoe, Andrew Atkeson, and Susan Athey
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Working Paper 612 (March 2001)
A Game-Theoretic View of the Fiscal Theory of the Price LevelMarco Bassetto
Published In: Econometrica (Vol. 70, No. 6, November 2002, pp. 2167-2195)
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Working Paper 611 (January 2001)
Exhuming Q: Market Power Capital Market ImperfectionsJoao Ejarque and Russell Cooper
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Working Paper 608 (January 2001)
Limited Enforcement and Efficient Interbank ArrangementsJames MacGee and Thorsten V. Koppl
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Working Paper 609 (January 2001)
Interest Rates and InflationWarren E. Weber, Fernando Alvarez, and Robert E. Lucas, Jr.
Published In: American Economic Review (Vol. 91, No. 2, May 2001, pp. 219-225)
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Working Paper 607 (November 2000)
The 1990s in Japan: A Lost DecadeEdward C. Prescott and Fumio Hayashi
Published In: The economics of an aging population: Macroeconomic issues (2004, pp. 35-74)
Published In: Review of Economic Dynamics (Vol. 5, No. 1, January 2002, pp. 206-235)
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Working Paper 604 (September 2000)
Finite Memory and Imperfect MonitoringNarayana Kocherlakota and Harold L. Cole
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Working Paper 605 (August 2000)
Money, Interest Rates, and Exchange Rates With Endogenously Segmented Asset MarketsPatrick J. Kehoe, Andrew Atkeson, and Fernando Alvarez
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Working Paper 602 (August 2000)
On the Equilibrium Concept for Overlapping Generations OrganizationsEdward C. Prescott and José-Víctor Ríos-Rull
Working Paper 603 (July 2000)
When should labor contracts be nominal?Antoine Martin and Cyril Monnet
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Working Paper 601 (May 2000)
Costly Banknote Issuance and Interest Rates Under the National Banking SystemWarren E. Weber, Antoine Martin, and Cyril Monnet
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Working Paper 600 (March 2000)
Financial Crises as HerdsPatrick J. Kehoe and V. V. Chari
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Working Paper 598 (December 1999)
Predicting the Effects of Federal Reserve Policy in a Sticky-Price Model: An Analytical ApproachEllen R. McGrattan
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Working Paper 599 (December 1999)
The Macroeconomic Effects of Big Fiscal Shocks: The Case of World War IIEllen R. McGrattan and Lee E. Ohanian
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Working Paper 596 (September 1999)
Calibration and Bayesian LearningNurlan Turdaliev
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Working Paper 595 (September 1999)
Optimal Monetary Impulse-Response Functions in a Matching ModelNeil Wallace, Brett Katzman, and John Kennan
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Working Paper 594 (February 1999)
Sharing the Risk of Settlement FailureAkira Yamazaki, Edward J. Green, and Hiroshi Fujiki
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Working Paper 592 (December 1998)
The Suffolk Bank and the Panic of 1837: How a Private Bank Acted as a Lender-of-Last-ResortArthur J. Rolnick, Warren E. Weber, and Bruce D. Smith
Published In: Quarterly Review (Vol. 24, No. 2, Spring 2000, pp. 3-13)
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Working Paper 593 (December 1998)
Deposit Insurance: A ReconsiderationBruce D. Smith, Chun Chang, and John H. Boyd
Published In: Journal of Monetary Economics (Vol. 49, No. 6, September 2002, pp. 1235-1260)
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Working Paper 591 (October 1998)
Private Money Creation and the Suffolk Banking SystemWarren E. Weber and Bruce D. Smith
Published In: Journal of Money, Credit, and Banking (Vol. 31, No. 3, August 1999, pp. 624-659)
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Working Paper 590 (Revised October 1998)
Business Cycle Research: Methods and ProblemsEdward C. Prescott
Published In: Cycles, growth and structural change: Theories and empirical evidence (2001, pp. 283-300)
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Working Paper 589 (August 1998)
On the Need for Fiscal Constraints in a Monetary UnionPatrick J. Kehoe and V. V. Chari
Published In: Journal of Monetary Economics (Vol. 54, No. 8, November 2007, pp. 2399-2408)
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Working Paper 588 (August 1998)
A Model of BimetallismWarren E. Weber and François R. Velde
Published In: Journal of Political Economy (Vol. 108, No. 6, December 2000, pp. 1210-1234)
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Working Paper 587 (May 1998)
The Suffolk Banking System ReconsideredArthur J. Rolnick and Warren E. Weber
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Working Paper 586 (April 1998)
The Role of Damage-Contingent Contracts in Allocating the Risks of Natural CatastrophesNeil Wallace, R. Anton Braun, and Richard M. Todd
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Working Paper 585 (Revised January 1998)
Moral Hazard Under Commercial and Universal BankingBruce D. Smith, Chun Chang, and John H. Boyd
Published In: Journal of Money, Credit, and Banking, Part 2 (Vol. 30, No. 3, August 1998, pp. 426-468)
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Working Paper 584 (Revised November 1997)
Lessons From a Laissez-Faire Payments System: The Suffolk Banking System (1825–1858)Arthur J. Rolnick, Warren E. Weber, and Bruce D. Smith
Published In: Quarterly Review (Vol. 26, No. 4, Fall 2002)
Published In: Quarterly Review (Vol. 22, No. 3, Summer 1998, pp. 11-21)
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Working Paper 574 (Revised September 1997)
Repeated Insurance Relationships in a Costly State Verification Model: With an Application to Deposit InsuranceBruce D. Smith and Cheng Wang
Published In: Journal of Monetary Economics (Vol. 42, No. 2, July 1998, pp. 207-240)
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Working Paper 583 (July 1997)
Dynamic Games With Hidden Actions and Hidden StatesNarayana Kocherlakota and Harold L. Cole
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Working Paper 573 (Revised July 1997)
Inflation and Financial Market PerformanceBruce D. Smith, John H. Boyd, and Ross Levine
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Working Paper 582 (June 1997)
The Economics of Split-Ticket Voting in Representative DemocraciesV. V. Chari, Larry E. Jones, and Ramon Marimon
Published In: American Economic Review (Vol. 87, No. 5, December 1997, pp. 957-76)
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Working Paper 581 (April 1997)
A Model of Regulated Private Bank-Note IssueNeil Wallace and Ricardo de O. Cavalcanti
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Working Paper 577 (Revised March 1997)
A Microfoundation for Incomplete Security MarketsNarayana Kocherlakota and Harold L. Cole
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Working Paper 580 (March 1997)
Models of Sovereign Debt: Partial vs. General ReputationsPatrick J. Kehoe and Harold L. Cole
Published In: International Economic Review (Vol. 39, No. 1, February 1998, pp. 55-70)
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Working Paper 579 (March 1997)
Shrinking Money and Monetary Business CyclesLee E. Ohanian and Harold L. Cole
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Working Paper 578 (Revised February 1997)
Optimal Allocations With Incomplete Record-Keeping and No CommitmentNarayana Kocherlakota and Neil Wallace
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Working Paper 572 (Revised December 1996)
Consolidation in U.S. Banking: Implications for Efficiency and RiskJohn H. Boyd and Stanley L. Graham
Published In: Bank mergers and acquisitions (1998, pp. 113-135)
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Working Paper 568 (Revised October 1996)
Short-Run and Long-Run Effects of Changes in Money in a Random Matching ModelNeil Wallace
Published In: Journal of Political Economy (Vol. 105, No. 6, December 1997, pp. 1293-1307)
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Working Paper 576 (October 1996)
Implementing Efficient Allocations in a Model of Financial IntermediationEdward J. Green and Ping Lin
Published In: Journal of Economic Theory (Vol. 109, No. 1, March 2003, pp. 1-23)
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Working Paper 575 (October 1996)
Seasonal Solow Residuals and Christmas: A Case for Labor Hoarding and Increasing ReturnsCharles L. Evans and R. Anton Braun
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Working Paper 571 (September 1996)
Will The New $100 Bill Decrease Counterfeiting?Warren E. Weber and Edward J. Green
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Working Paper 569 (August 1996)
A Model of a Currency ShortageNeil Wallace and Ruilin Zhou
Published In: Journal of Monetary Economics (Vol. 40, No. 3, December 1997, pp. 555-572)
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Working Paper 567 (August 1996)
Technical Appendix to “Optimal Fiscal Policy in a Business Cycle Model”Patrick J. Kehoe, V. V. Chari, and Lawrence J. Christiano
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Working Paper 570 (August 1996)
Simulation-Based Bayesian Inference for Economic Time SeriesJohn F. Geweke
Published In: Simulation- based inference in econometrics (2000, pp. 255-299)
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Working Paper 566 (July 1996)
Reassessing Aggregate Returns to Scale With Standard Theory and MeasurementLee E. Ohanian and Harold L. Cole
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Working Paper 537 (Revised July 1996)
The Use of Debt and Equity in Optimal Financial ContractsBruce D. Smith and John H. Boyd
Published In: Journal of Financial Intermediation (Vol. 8, No. 4, October 1999, pp. 270-316)
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Working Paper 551 (Revised June 1996)
Transaction Services, Inflation, and WelfareZvi Eckstein, R. Anton Braun, and S. Rao Aiyagari
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Working Paper 565 (May 1996)
Some Explorations Into Optimal Cyclical Monetary PolicyR. Anton Braun and S. Rao Aiyagari
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Working Paper 550 (Revised April 1996)
Coexistence of Money and Interest-Bearing SecuritiesNeil Wallace, Randall Wright, and S. Rao Aiyagari
Published In: Journal of Monetary Economics (Vol. 37, No. 3, June 1996, pp. 397-419)
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Working Paper 541 (Revised February 1996)
The Co-Evolution of the Real and Financial Sectors in the Growth ProcessBruce D. Smith and John H. Boyd
Published In: World Bank Economic Review (Vol. 10, No. 2, May 1996, pp. 371-396)
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Working Paper 563 (Revised January 1996)
Social Accounting Matrices and Applied General Equilibrium ModelsTimothy J. Kehoe
Published In: Applied Economics and Public Policy (1998, pp. 59-87)
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Working Paper 564 (January 1996)
Bayesian Inference for Dynamic Choice Models Without the Need for Dynamic ProgrammingJohn F. Geweke and Michael P. Keane
Published In: Simulation-based inference in econometrics (2000, pp. 100-131)
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Working Paper 561 (November 1995)
Unemployment, Migration, and GrowthBruce D. Smith and Valerie R. Bencivenga
Published In: Journal of Political Economy (Vol. 105, No. 3, June 1997, pp. 582-608)
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Working Paper 560 (November 1995)
Asset Pricing Lessons for Modeling Business CyclesMichele Boldrin, Lawrence J. Christiano, and Jonas D. M. Fisher
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Working Paper 562 (November 1995)
The Effects of Open Market Operations In A Model of Intermediation and GrowthBruce D. Smith and Stacey L. Schreft
Published In: Review of Economic Studies (Vol. 65, No. 3, July 1998, pp. 519-550)
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Working Paper 556 (Revised November 1995)
Inflation, Financial Markets, & Capital FormationBruce D. Smith, John H. Boyd, and Sangmok Choi
Published In: Federal Reserve Bank of St. Louis Review (Vol. 78, No. 3, May-June 1996, pp. 9-35)
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Working Paper 557 (October 1995)
A Structural Model of Multiple Welfare Program Participation and Labor SupplyMichael P. Keane and Robert Moffitt
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Working Paper 559 (October 1995)
The Career Decisions of Young MenKenneth I. Wolpin and Michael P. Keane
Published In: Journal of Political Economy (Vol. 105, No. 3, June 1997, pp. 473-522)
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Working Paper 558 (October 1995)
Three Contributions to the Theory of Decision Under UncertaintyEdward J. Green and In-Uck Park
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Working Paper 536 (Revised September 1995)
The Debasement Puzzle: An Essay on Medieval Monetary PolicyArthur J. Rolnick, Warren E. Weber, and François R. Velde
Published In: Journal of Economic History (Vol 56, Num 4, December 1996, pp. 789-808)
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Working Paper 542 (Revised September 1995)
The Evolution of Debt and Equity Markets in Economic DevelopmentBruce D. Smith and John H. Boyd
Published In: Economic Theory (Vol. 12, No. 3, November 1998, pp. 519-560)
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Working Paper 554 (September 1995)
Temporal Aggregation in a Multi-Sector Economy With Endogenous GrowthJean Mercenier and Philippe Michel
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Working Paper 555 (September 1995)
Posterior Simulators in EconometricsJohn F. Geweke
Published In: Advances in economics and econometrics: Theory and applications (Vol. 3, 1997, pp. 128-165)
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Working Paper 553 (August 1995)
Prior Density Ratio Class Robustness in EconometricsJohn F. Geweke and Lea Petrella
Published In: Journal of Business and Economic Statistics (Vol. 16, No. 4, October 1998, pp. 469-478)
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Working Paper 552 (July 1995)
Bayesian Inference for Linear Models Subject to Linear Inequality ConstraintsJohn F. Geweke
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Working Paper 516 (Revised June 1995)
Government Transaction Policy, the Medium of Exchange, and WelfareNeil Wallace and S. Rao Aiyagari
Published In: Journal of Economic Theory (Vol. 74, No. 1, May 1997, pp. 1-18)
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Working Paper 525 (Revised June 1995)
Interpreting Monetary Stabilization in a Growth Model With Credit Goods ProductionZvi Eckstein and S. Rao Aiyagari
Published In: Financial factors in economic stabilization and growth (1996, pp. 197-219)
PDF Version
Working Paper 544 (Revised May 1995)
Analyzing a Proposal to Ban State Tax Breaks to BusinessesThomas J. Holmes
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Working Paper 549 (May 1995)
Neighbors: A Locational Model of Human Capital AcquisitionGeorge T. McCandless Jr.
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Working Paper 547 (April 1995)
Social Insurance and TransitionPatrick J. Kehoe and Andrew Atkeson
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Working Paper 548 (April 1995)
Putty-Clay Capital and EnergyPatrick J. Kehoe and Andrew Atkeson
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Working Paper 543 (Revised April 1995)
Comments on Farmer and Guo's "The Econometrics of Indeterminacy: An Applied Study."S. Rao Aiyagari
Working Paper 545 (March 1995)
On the Turnover of Business Firms and Business ManagersJames A. Schmitz, Jr. and Thomas J. Holmes
Published In: Journal of Political Economy (Vol. 103, Issue 5, October 1995, pp. 1005-1038)
Published In: Innovation, evolution of industry and economic growth (Vol. 2, 2000, pp. 29-62)
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Working Paper 546 (March 1995)
Optimal Social Insurance, Incentives, and TransitionPatrick J. Kehoe and Andrew Atkeson
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Working Paper 540 (Revised January 1995)
Bayesian Reduced Rank Regression in EconometricsJohn F. Geweke
Published In: Journal of Econometrics (Vol. 75, No. 1, November 1996, pp. 121-146)
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Working Paper 538 (Revised December 1994)
The Optimal Quantity of DebtEllen R. McGrattan and S. Rao Aiyagari
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Working Paper 539 (November 1994)
Variable Selection and Model Comparison in RegressionJohn F. Geweke
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Working Paper 480 (Revised October 1994)
An Evaluation of the Performance of an Applied General Equilibrium Model of the Spanish EconomyTimothy J. Kehoe, Clemente Polo, and Ferran Sancho
Published In: Economic Theory (Vol. 6, No. 1, June 1995, pp. 115-141)
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Working Paper 508 (Revised March 1994)
Optimal Capital Income Taxation With Incomplete Markets, Borrowing Constraints, and Constant DiscountingS. Rao Aiyagari
Published In: Journal of Political Economy (Vol. 103, No. 6, December 1995, pp. 1158-1175)
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Working Paper 500 (Revised March 1994)
Ex-Dividend Price Behavior of Common StocksJohn H. Boyd and Ravi Jagannathan
Published In: Review of Financial Studies (Vol. 7, No. 4, Winter 1974, pp. 711-741)
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Working Paper 502 (Revised December 1993)
Uninsured Idiosyncratic Risk and Aggregate SavingS. Rao Aiyagari
Published In: Quarterly Journal of Economics (Vol. 109, No. 3, August 1994, pp. 659-684)
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Working Paper 510 (March 1993)
Patterns of Exchange, Fiat Money, and the Welfare Costs of InflationIrasema Alonso
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Working Paper 491 (Revised May 1992)
Modeling the Dynamic Impact of North American Free TradeTimothy J. Kehoe
Published In: Economy-Wide Modeling of the Economic Implications of an FTA with Mexico and a NAFTA with Canada and the United States (1992, pp. 249-276)
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Working Paper 445 (Revised May 1992)
Debt Constrained Asset MarketsTimothy J. Kehoe and David K. Levine
Published In: Review of Economic Studies (Vol. 60, No. 4, October 1993, pp. 865-888)
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Working Paper 151 (January 1992)
On the Existence and Uniqueness of Nonoptimal Equilibria in Dynamic Stochastic EconomiesGregory W. Huffman and Jeremy Greenwood
Published In: Journal of Economic Theory (Vol 65, Num 2, April 1995, pp. 611-623)
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Working Paper 426 (Revised October 1991)
International Real Business CyclesPatrick J. Kehoe, David K. Backus, and Finn E. Kydland
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Working Paper 460 (Revised October 1991)
Computation and Multiplicity of EquilibriaTimothy J. Kehoe
Published In: Handbook of mathematical economics (Vol. 4, 1991, pp. 2049-2143)
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Working Paper 393 (Revised June 1991)
Walras' Law and Nonoptimal Equilibria in Overlapping Generations ModelsS. Rao Aiyagari
Published In: The legacy of Leon Walras (Vol. 2, 2001, pp. 496-514)
Published In: Journal of Mathematical Economics (Vol. 21, No. 4, 1992, pp. 343-361)
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Working Paper 478 (May 1991)
Technical Appendix for Liquidity Effects, Monetary Policy, and the Business CycleLawrence J. Christiano and Martin Eichenbaum
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Working Paper 428 (Revised May 1991)
Existence of Steady States With Positive Consumption in the Kiyotaki-Wright ModelNeil Wallace and S. Rao Aiyagari
Published In: Review of Economic Studies (Vol. 58, No. 5, October 1991, pp. 901-916)
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Working Paper 473 (January 1991)
Technical Appendix to Optimal Fiscal Policy in a Stochastic Growth ModelPatrick J. Kehoe, V. V. Chari, and Lawrence J. Christiano
PDF Version
Working Paper 467 (November 1990)
Computational Algorithms for Solving Variants of Fuerst's ModelLawrence J. Christiano
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Working Paper 436 (November 1990)
On Characterizing Equilibria of Economies With Externalities and Taxes as Solutions to Optimization ProblemsTimothy J. Kehoe, David K. Levine, and Paul M. Romer
Published In: Economic Theory (Vol. 2, No. 1, January 1992, pp. 43-68)
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Working Paper 404 (Revised July 1990)
The Optimum Quantity of Money RevisitedTimothy J. Kehoe, David K. Levine, and Michael Woodford
Published In: Economic analysis of markets and games: Essays in honor of Frank Hahn (1992, pp. 501-526)
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Working Paper 459 (May 1990)
Algorithms for Explaining Forecast RevisionsRichard M. Todd
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Working Paper 456 (April 1990)
The Output, Employment, and Interest Rate Effects of Government ConsumptionLawrence J. Christiano, Martin Eichenbaum, and S. Rao Aiyagari
Published In: Journal of Monetary Economics (Vol. 30, No. 1, October 1992, pp. 73-86)
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Working Paper 384 (Revised September 1988)
Implementing Bayesian Vector AutoregressionsRichard M. Todd
PDF Version
Working Paper 385 (Revised February 1988)
Organizations in Economic Analysis.Edward C. Prescott, Bruce D. Smith, and John H. Boyd
Published In: Canadian Journal of Economics (Vol 21, Num 3, August 1988, pp. 477-491)
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Working Paper 320 (Revised February 1988)
Banking Panics, Information, and Rational Expectations EquilibriumV. V. Chari and Ravi Jagannathan
Published In: Credit, intermediation, and the macroeconomy: Readings and perspectives in modern financial theory (2004, pp. 265-279)
Published In: Journal of Finance (Vol. 43, No. 3, July 1988, pp. 749-61)
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Working Paper 380 (December 1987)
Technical Appendix to Why Does Inventory Investment Fluctuate So Much? Or: Does the Stock Market Dance to Its Own Music?Lawrence J. Christiano
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Working Paper 448 (November 1987)
Comment on Romer, "Crazy Explanations for The Productivity Slowdown."Lawrence J. Christiano
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Working Paper 427 (October 1987)
Intertemporal Substitution and Smoothness of ConsumptionLawrence J. Christiano
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Working Paper 369 (August 1987)
Technical Appendix to Money Does Granger-Cause Output in the Bivariate Output-Money RelationLawrence J. Christiano and Lars Ljungqvist
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Working Paper 356 (Revised July 1987)
Equilibrium Existence in an Overlapping Generations Model With Altruistic PreferencesS. Rao Aiyagari
Published In: Journal of Economic Theory (Vol 47, Num 1, February 1989, pp. 130-152)
PDF Version
Working Paper 360 (July 1987)
The Banking Crisis of the 1930s: New Evidence From Bank Examination RecordsArthur J. Rolnick
PDF Version
Working Paper 341 (July 1987)
Household Choices in EquilibriumRobert A. Miller and Sumru Altug
Published In: Econometrica (Vol. 58, No. 3, May 1990, pp. 343-570)
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Working Paper 306 (June 1987)
Temporal Aggregation and Structural Inference in MacroeconomicsLawrence J. Christiano and Martin Eichenbaum
Published In: Carnegie-Rochester Conference Series on Public Policy (Vol. 26, Spring 1987, pp. 63-130)
PDF Version
Working Paper 357 (May 1987)
Temporal Aggregation and the Stock Adjustment Model of InventoriesLawrence J. Christiano and Martin Eichenbaum
Published In: The rational expectations equilibrium inventory model: Theory and applications (1989, pp. 70-108)
Published In: Carnegie-Rochester Conference Series on Public Policy (Vol. 26, Spring 1987, pp. 63-130)
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Working Paper 301 (May 1987)
Estimating Continuous Time Rational Expectations Models in Frequency Domain: A Case StudyLawrence J. Christiano
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Working Paper 325 (Revised March 1987)
Nonmonetary Steady States in Stationary Overlapping Generations Models With Long Lived Agents and Discounting: Multiplicity, Optimality, and Consumption SmoothingS. Rao Aiyagari
Published In: Journal of Economic Theory (Vol. 45, No. 1, June 1988, pp. 102-127)
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Working Paper 338 (February 1987)
Dynamic Properties of Two Approximate Solutions to a Particular Growth ModelLawrence J. Christiano
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Working Paper 312 (Revised November 1986)
Optimality and Monetary Equilibria in Stationary Overlapping Generations Models With Long Lived Agents: Growth Versus DiscountingS. Rao Aiyagari
Published In: Journal of Economic Theory (Vol. 43, No. 2, December 1987, pp. 292-313)
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Working Paper 277 (Revised August 1986)
Time to Build and Aggregate Fluctuations: Some New EvidenceSumru Altug
PDF Version
Working Paper 302 (April 1986)
Temporal Aggregation Bias and Government Policy EvaluationLawrence J. Christiano
PDF Version
Working Paper 304 (March 1986)
A Continuous Time, General Equilibrium, Inventory-Sales ModelLawrence J. Christiano and Martin Eichenbaum
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Working Paper 303 (March 1986)
On the Accuracy of Linear Quadratic Approximations: An ExampleLawrence J. Christiano
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Working Paper 297 (Revised February 1986)
The Limits of Counter-Cyclical Monetary Policy: An Analysis Based on Optimal Control Theory and Vector AutoregressionsRobert B. Litterman
PDF Version
Working Paper 293 (January 1986)
Government Debt and TaxesThomas J. Sargent
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Working Paper 296 (Revised January 1986)
Bank Holding Company Diversification Into Nonbank Lines of Business: The Effects on Risk and Rate of ReturnJohn H. Boyd and Stanley L. Graham
PDF Version
Working Paper 361 (December 1985)
A Continuous Time, General Equilibrium, Inventory-Sales ModelLawrence J. Christiano and Martin Eichenbaum
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Working Paper 204 (Revised November 1985)
Limited Information, Money, and Competitive EquilibriumBruce D. Smith
PDF Version
Working Paper 274 (Revised July 1985)
Forecasting With Bayesian Vector Autoregressions Five Years of ExperienceRobert B. Litterman
Published In: Economic forecasting (Vol. 1, 1999, pp. 354-85)
Published In: Journal of Business and Economic Statistics (Vol. 4, No. 1, January 1986, pp. 25-38)
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Working Paper 265 (Revised June 1985)
Suspension and the Financing of the Civil War: A Critique of Newcomb and MitchellArthur J. Rolnick and Neil Wallace
PDF Version
Working Paper 275 (Revised May 1985)
Inherent Instability in Banking: The Free Banking ExperienceArthur J. Rolnick and Warren E. Weber
Published In: Cato Journal (Vol. 5, No. 3, Winter 1986, pp. 877-890)
PDF Version
Working Paper 280 (April 1985)
Identification and Estimation of a Model of Hyperinflation With a Continuum of "Sunspot" EquilibriumNeil Wallace and Thomas J. Sargent
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Working Paper 268 (Revised February 1985)
National Monetary Policies in a World Economy: A Role for CooperationNeil Wallace and Preston J. Miller
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Working Paper 244 (Revised October 1984)
Optimal Income Tax in a Monetary EconomyPreston J. Miller
Published In: Journal of Economic Dynamics and Control (Vol. 17, No. 3, May 1993, pp. 443-465)
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Working Paper 254 (May 1984)
The Costs of Intermediate TargetingRobert B. Litterman
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Working Paper 222 (Revised June 1983)
After Penn Square: The Insurance DilemmaArthur J. Rolnick and Evelyn F. Carroll
PDF Version
Working Paper 239 (June 1983)
"Can the Cycle Be Reconciled With a Consistent Theory of Expectations" Or a Progress Report on Business Cycle TheoryEdward C. Prescott
PDF Version
Working Paper 218 (Revised February 1983)
Money, Nonconvex Preferences, and the Existence of Equilibrium: A NoteBruce D. Smith
PDF Version
Working Paper 216 (September 1982)
Money as a Medium of Transaction in the Overlapping Generations ModelBruce D. Smith
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Working Paper 213 (September 1982)
A Time Series Analysis of Federal Budget PolicyPreston J. Miller
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Working Paper 210 (August 1982)
A Monetarist Approach to Federal Budget ControlPreston J. Miller
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Working Paper 205 (August 1982)
Human Capital Investment, and the Inefficiency of Compensation Based on Marginal Productivity: The Static CaseBruce D. Smith
PDF Version
Working Paper 163 (Revised November 1981)
Rational Expectations, Hyperinflation, and the Demand for MoneyLawrence J. Christiano
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Working Paper 0 (May 1981)
Stopping Moderate Inflations: The Methods of Poincare and ThatcherThomas J. Sargent
PDF Version
Working Paper 158 (Revised May 1981)
The Ends of Four Big InflationsThomas J. Sargent
Published In: The theory of inflation (1994, pp. 433-489)
Published In: Inflation: Causes and Effects (1982, pp. 41-97)
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Working Paper 170 (April 1981)
"Dollarization," Seignorage, and the Demand for MoneyThomas J. Sargent
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Working Paper 165 (November 1980)
The Term Structure of Interest Rates and the Aliasing Identification ProblemLawrence J. Christiano
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Working Paper 152 (April 1980)
The Case for Branch Banking in MontanaArthur J. Rolnick and Stanley L. Graham
PDF Version
Working Paper 135 (Revised January 1980)
Linear Rational Expectations Models for Dynamically Interrelated VariablesLars Peter Hansen and Thomas J. Sargent
PDF Version
Working Paper 115 (Revised November 1979)
Techniques of Forecasting Using Vector AutoregressionsRobert B. Litterman
PDF Version
Working Paper 127 (Revised November 1979)
Formulating and Estimating Dynamic Linear Rational Expectations ModelsLars Peter Hansen and Thomas J. Sargent
Published In: The legacy of Robert Lucas, Jr. (Vol. 2, 1999, pp. 330-369)
Published In: Journal of Economic Dynamics and Control (Vol. 2, 1980, pp. 7-46)
PDF Version
Working Paper 124 (Revised June 1979)
A Test of the Exogeneity of National Variables in a Regional Econometric ModelPaul A. Anderson
PDF Version
Working Paper 104 (January 1978)
Forecasting With Econometric Methods: A CommentPreston J. Miller
Published In: Journal of Business (Vol. 51, No. 4, October 1978, pp. 579-584)
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Working Paper 101 (October 1977)
Is Keynesian Economics a Dead End?Thomas J. Sargent
PDF Version
Working Paper 85 (March 1977)
The Influence of Regulation on Competition in the United States Banking IndustryArthur J. Rolnick and Stanley L. Graham
PDF Version
Working Paper 55 (Revised January 1977)
Business Cycle Modeling Without Pretending to Have Too Much A Priori Economic TheoryChristopher A. Sims and Thomas J. Sargent
PDF Version
Working Paper 63 (June 1976)
The Policy Procedure of the FOMC: A CritiqueJohn H. Kareken and Preston J. Miller
PDF Version
Working Paper 53 (May 1976)
Observations on Improper Methods of Simulating and Teaching Friedman's Time Series Consumption ModelThomas J. Sargent
Published In: International Economic Review (Vol. 18, No. 2, June 1977, pp. 445-462)
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Working Paper 58 (May 1976)
Seasonality and Portfolio Balance Under Rational ExpectationsRusdu Saracoglu and Thomas J. Sargent
Published In: Journal of Monetary Economics (Vol. 4, No. 3, August 1978, pp. 435-458)
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Working Paper 45 (Revised April 1976)
Stabilization Policy: A Framework for AnalysisArthur J. Rolnick
PDF Version
Working Paper 54 (March 1976)
Testing for Neutrality and RationalityThomas J. Sargent
PDF Version
Working Paper 57 (March 1976)
The Transactions Demand for Money in a Three-Asset EconomyPreston J. Miller
Published In: International Economic Review (Vol. 18, No. 2, June 1977, pp. 345-366)
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Working Paper 60 (February 1976)
The Demand for Money During Hyperinflations Under Rational Expectations: IIThomas J. Sargent
Published In: International Economic Review (Vol. 20, No. 3, October 1979, pp. 741-758)
PDF Version
Working Paper 79 (February 1976)
Econometric Exogeneity and Alternative Estimators of Portfolio Balance Schedules for Hyperinflations: A NoteThomas J. Sargent
PDF Version
Working Paper 83 (November 1975)
A Little Bit of Evidence on the Natural Rate Hypothesis From the U.SSalih Neftci and Thomas J. Sargent
Published In: The legacy of Robert Lucas, Jr. (Vol. 2, 1999, pp. 424-428)
Published In: Journal of Monetary Economics (Vol. 4, No. 2, April 1978, pp. 315-319)
PDF Version
Working Paper 49 (October 1975)
Categories of Criticism of the Rational Expectations TheoryClarence W. Nelson, Preston J. Miller, and Thomas M. Supel
PDF Version
Working Paper 48 (September 1975)
The Observational Equivalence of Natural and Unnatural Rate Theories of MacroeconomicsThomas J. Sargent
Published In: Recent developments in macroeconomics (Vol. 2, 1991, pp. 111-120)
Published In: Journal of Political Economy (Vol. 84, No. 3, June 1976, pp. 631-640)
PDF Version
Working Paper 46 (August 1975)
Nonreporting of Savings Accounts in Sample Savings: Causes and CorrelatesArthur J. Rolnick and E. Scott Maynes
PDF Version
Working Paper 23 (Revised March 1975)
Naive Business Cycle TheoryThomas J. Sargent
PDF Version
Working Paper 29 (August 1974)
Rational Expectations and the Theory of Economic PolicyNeil Wallace and Thomas J. Sargent
Published In: Essential readings in economics (1995, pp. 366-382)
Published In: The new classical macroeconomics (Vol. 1, 1992, pp. 275-289)
Published In: Journal of Monetary Economics (Vol. 2, No. 2, April 1976, pp. 169-183)
Published In: The foundations of monetary economics (Vol. 3, 1999, pp. 223-237)
Published In: Economic policy (Vol. 1, 1998, pp. 301-315)
PDF Version
Working Paper 26 (July 1974)
Unemployment and Stabilization Policy in a Two-Sector, Two-Country Aggregative ModelDale W. Henderson and Thomas J. Sargent
PDF Version
Working Paper 27 (July 1974)
Dynamic Analysis of a Keynesian ModelThomas J. Sargent
PDF Version
Working Paper 76 (May 1972)
The Thomson-Pierce Monthly Model: A Test for Structural ChangeArthur J. Rolnick, Neil Wallace, and John H. Kareken
PDF Version
Working Paper 75 (August 1971)
Interest Rates and Prices in the Long Run: A Study of the Gibson ParadoxThomas J. Sargent
Published In: Journal of Money, Credit, and Banking (Vol. 5, No. 1, February 1973, pp. 385-449)
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Working Paper 73 (January 1970)
An Inquiry Into the Conditions Under Which a Single Endowment Trust Fund Will Provide Perpetual Funding for an Expense Stream Growing at a Compound AnnualPreston J. Miller and Ron Kaatz
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