Research

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Author(s)
Year
2012
This paper documents that banks with higher non-interest income (noncore activities like investment banking, venture capital and trading activities) have higher contribution to systemic risk than traditional banking (deposit taking and lending). After ...
Sir Angus Deaton
2012
I use daily data on self-reported well-being (SWB) to examine how the Great Recession affected the emotional and evaluative lives of the population. In the fall of 2008 and lasting into the spring of 2009, at the bottom of the stock market, Americans ...
Benjamin Moll
2012
We take an off-the-shelf model with financial frictions and heterogeneity, and study the mapping from a credit crunch, modeled as a shock to collateral constraints, to simple aggregate wedges. We study three variants of this model that only differ in the ...
Richard Rogerson
2012
We build a general equilibrium model that features uninsurable idiosyncratic shocks, search frictions and an operative labor supply choice along the extensive margin. The model is calibrated to match the average levels of gross flows across the three ...
Harold James
2011
The paper presents trade policy as in line with that of other continental European powers, with a move to moderate levels of tariff protection for politically sensitive sectors such as steel and textiles and clothing, but also in agriculture, with levels ...
Carles Boix
2011
Does the process of economic globalization curtail the capacity of national governments to pursue autonomous economic policies at home? Does the growing cross-border mobility of factors (and its associated threat of capital flight) discipline governments ...
Gene Grossman
2011
We develop a framework for studying trade in horizontally and vertically differentiated products. In our model, consumers with heterogeneous incomes and tastes purchase a homogeneous good and makea discrete choice of quality and variety of a ...
Gene Grossman
2011
Gene Grossman July, 2011 Comparative Advantage, Growth, and the Gains from Trade and Globalization: A Festschrift in Honor of Alan V. Deardorff, ed. Robert Stern; World Scientific Publishing Company Trade Macroeconomics International Political Economy and ...
Richard Rogerson
2011
Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We examine the effect of product market regulations on hours worked in a benchmark model of time allocation. Product market regulations affect ...
Alicia Adsera
2011
We explored the relation between fertility and the business cycle in Latin America. First, we used aggregate data on fertility rates and economic performance for 18 countries. We then studied these same associations in the transitions to first, second, ...
Atif Mian
2011
Atif Mian February, 2011 With Amir Sufi; The Pakistan Development Review, Vol. 50, Issue 4 Finance Macroeconomics Housing Economics and Finance http://pide.org.pk/pdr/index.php/pdr/article/view/2897 ...
Alicia Adsera
2011
Cross-country differences in both the age at first birth and fertility are substantial in Europe. This paper uses distinct fluctuations in unemployment rates across European countries during the 1980s and the 1990s combined with broad differences in their ...
Mark Watson
2011
Chicago Journals (Jstor) Using factor methods, we decompose industrial production (IP) into components arising from aggregate and sector-specific shocks. An approximate factor model finds that nearly all of IP variability is associated with common factors ...