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Basu, Susanto; Barsky, Robert B.; Lee, Keyoung - National Bureau of Economic Research (NBER) - 2014

prices, consumption, consumer confidence and inflation, robustly predict three outcomes. First, following a news shock, TFP … rises for several years. Second, inflation falls immediately and substantially, and stays low, often for 10 quarters or more … in lockstep with productivity. For the most part, the quantity and inflation responses are quite consistent with the …

Persistent link: https://www.econbiz.de/10011271450

Some Evidence on the Importance of Sticky Wages

Barattieri, Alessandro; Basu, Susanto; Gottschalk, Peter - National Bureau of Economic Research (NBER) - 2010

consumer price inflation rate. …

Persistent link: https://www.econbiz.de/10008627125

Cyclical Productivity with Unobserved Input Variation

Basu, Susanto; Kimball, Miles Spencer - National Bureau of Economic Research (NBER) - 1997

In this paper, we derive and estimate relationships governing variable utilization of capital and labor for a firm solving a dynamic cost-minimization problem. Our method allows for (i) imperfect competition, (ii) increasing returns to scale, (iii) unobserved changes in utilization, (iv)...

Persistent link: https://www.econbiz.de/10005714045

Business Cycles in International Historical Perspective

Basu, Susanto; Taylor, Alan M. - National Bureau of Economic Research (NBER) - 1999

This paper examines business cycles theoretically and empirically, with a quantitative study based on experience over the long run and in a cross section of countries. Several major questions in business cycle theory are explored. Theoretical concerns indicate that the properties of business...

Persistent link: https://www.econbiz.de/10005830585

Intermediate Goods and Business Cycles: Implications for Productivity and Welfare

Basu, Susanto - National Bureau of Economic Research (NBER) - 1994

This paper presents an aggregate demand-driven model of business cycles that provides a new explanation for the procyclicality of productivity, and simultaneously predicts large welfare losses from monetary non-neutrality. The key features of the model are an input- output production structure,...

Persistent link: https://www.econbiz.de/10005775071

Uncertainty Shocks in a Model of Effective Demand

Basu, Susanto; Bundick, Brent - National Bureau of Economic Research (NBER) - 2012

Can increased uncertainty about the future cause a contraction in output and its components? This paper examines the role of uncertainty shocks in a one-sector, representative-agent, dynamic, stochastic general-equilibrium model. When prices are flexible, uncertainty shocks are not capable of...

Persistent link: https://www.econbiz.de/10010821670