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Regional economy and manufacturing update
Dudley, William - Federal Reserve Bank of New York - 2010
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Persistent link: https://www.econbiz.de/10010724980
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Labor supply heterogeneity and macroeconomic comovement
Eusepi, Stefano; Preston, Bruce - Federal Reserve Bank of New York - 2009
Standard real business cycle models must rely on total factor productivity (TFP) shocks to explain the observed …
Persistent link: https://www.econbiz.de/10008636173
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Productivity shocks and real business cycles
Evans, Charles L. - Federal Reserve Bank of Chicago - 1991
Persistent link: https://www.econbiz.de/10005410904
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The money-output link: are F-tests reliable?
Abate, Joseph; Boldin, Michael - Federal Reserve Bank of New York - 1993
Persistent link: https://www.econbiz.de/10005387309
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Why is productivity procyclical? Why do we care?
Basu, Susanto; Fernald, John - Federal Reserve Bank of Chicago - 2000
Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity … procyclical productivity as an essential feature of business cycles because each explanation has important implications for … utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the …
Persistent link: https://www.econbiz.de/10005726266
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Two flaws in business cycle accounting
Christiano, Lawrence J.; Davis, Joshua M. - Federal Reserve Bank of Chicago - 2006
Using ‘business cycle accounting’ (BCA), Chari, Kehoe and McGrattan (2006) (CKM) conclude that models of financial frictions which create a wedge in the intertemporal Euler equation are not promising avenues for modeling business cycle dynamics. There are two reasons that this conclusion is...
Persistent link: https://www.econbiz.de/10005419881
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Maximum likelihood in the frequency domain: a time to build example
Christiano, Lawrence J.; Vigfusson, Robert J. - Federal Reserve Bank of Chicago - 1999
A well known result is that the Gaussian log-likelihood can be expressed as the sum over different frequency components. This implies that the likelihood ratio statistic has a similar linear decomposition. We exploit these observations to devise diagnostic methods that are useful for...
Persistent link: https://www.econbiz.de/10005419900
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Earnings inequality and the business cycle
Barlevy, Gadi; Tsiddon, Daniel - Federal Reserve Bank of Chicago - 2004
Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings inequality....
Persistent link: https://www.econbiz.de/10005419911
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What determines bilateral trade flows?
Baxter, Marianne; Kouparitsas, Michael - Federal Reserve Bank of Chicago - 2005
This paper undertakes an exhaustive search for robust determinants of international trade, where "robustness" is tested using three popular empirical methods. The paper is frankly atheoretical: our goal is solely to establish statistically robust relationships. Along the way, however, we relate...
Persistent link: https://www.econbiz.de/10005419920
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Establishments dynamics and matching frictions in classical competitive equilibrium
Veracierto, Marcelo - Federal Reserve Bank of Chicago - 2007
an important role in dampening the response of the economy to aggregate productivity shocks. …
Persistent link: https://www.econbiz.de/10005419940