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Title
Author(s)
Year
Atif Mian
2013
I highlight the financial market risks faced by the U.S. middle class using the 2007-2009 financial crisis as an example. The 2007-09 financial crisis disproportionately affected the middle class due to three distinct channels. First, the wealth losses ...
Alan Blinder
2013
Alan Blinder June, 2013 The Great Inflation, ed. Michael Bordo and Athanasios Orphanides; University of Chicago Press; NBER Conference Report Finance Macroeconomics Monetary and Macroeconomic Policy http://press.uchicago.edu/ucp/books/book/chicago/G ...
Gene Grossman
2013
In this paper, I survey the recent theoretical literature that incorporates heterogeneous labor into models of international trade. The models with heterogeneous labor have been used to study how talent dispersion can be a source of comparative advantage, ...
2013
This article surveys the macroeconomic implications of financial frictions. Financial frictions lead to persistence and when combined with illiquidity to non-linear amplification effects. Risk is endogenous and liquidity spirals cause financial ...
Marc Fleurbaey
2013
A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific ...
Oleg Itskhoki
Stephen Redding
2013
This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market frictions, and foreign trade. This framework emphasizes firm heterogeneity and search and matching frictions in labor markets. It implies ...
Sophie Meunier
2013
Sophie Meunier May, 2013 Developments in French Politcs, 5th Edition, ed. Alistair Cole, Sophie Meunier, and Vincent Tiberj; Palgrave-Macmillan Foreign Policy Trade Macroeconomics International Political Economy and Trade meunier_france_and_the_global ...
Oleg Itskhoki
2013
We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. ...
Richard Rogerson
2013
Structural transformation refers to the reallocation of economic activity across the broad sectors agriculture, manufacturing and services. This review article synthesizes and evaluates recent advances in the research on structural transformation. We ...
Stephen Redding
2013
We examine how firm heterogeneity influences aggregate welfare through endogenous firm selection. We consider a homogeneous firm model that is a special case of a heterogeneous firm model with a degenerate productivity distribution. Keeping all structural ...
Mark Watson
2013
Long-run forecasts of economic variables play an important role in policy, planning, and portfolio decisions. We consider long-horizon forecasts of average growth of a scalar variable, assuming that first differences are second-order stationary. The main ...
Alan Blinder
2013
Alan Blinder January, 2013 The Penguin Press; ISBN:9721594205309 Finance Macroeconomics Monetary and Macroeconomic Policy http://www.us.penguingroup.com/nf/Book/BookDisplay/0,,9781594205309,00.html?strS... ...
Rafaela Dancygier
2013
Rafaela Dancygier January, 2013 With Michael Donnelly; Journal of Politics, Vol. 75, Issue 1 Immigration Employment Macroeconomics Domestic and Social Policy dancygier_sectoral_economies_economic_context_and_attitudes_toward_immigration.pdf http://dx.doi ...
2012
This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the ...
Harold James
2012
A new sensitivity to the significance of historical experience has developed since the 2007 financial crisis. There are three possible ways of drawing on the past: as a source of advice on policies, of patterns of past evolution, of multiple possibilities ...
Mark Watson
2012
We study two decompositions of inflation, π, motivated by the standard New Keynesian pricing equation of Gali, Gertler, and Sbordone. The first uses four components: lagged π, expected future π, real unit labor cost (ψ), and a residual. The second uses ...
Aaron Friedberg
2012
Coinciding as they do with America's fiscal crisis and post-war fatigue, Europe's troubles could lead to a dangerous diminution of overall Western engagement in various hot spots at a critical moment. Aaron Friedberg November, 2012 Survival: ...
Oleg Itskhoki
2012
Large exporters are simultaneously large importers. In this paper, we show that this pattern is key to understanding low aggregate exchange rate pass-through as well as the variation in pass-through across exporters. First, we develop a theoretical ...
Harold James
2012
Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not ...
Harold James
2012
This paper examines why so much debate about the structure of the international economy revolves around a conference held at Bretton Woods in July 1944 which was not immediately conspicuously successful. There was a unique confluence of contemporary ...

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