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Latent Heterogeneity in the Marginal Propensity to Consume

Lewis, Daniel J.; Melcangi, Davide; Pilossoph, Laura - National Bureau of Economic Research - 2024

We estimate the unconditional distribution of the marginal propensity to consume (MPC) using clustering regression applied to the 2008 economic stimulus payments. By deviating from the standard approach of estimating MPC heterogeneity using interactions with observables, we can recover the full...

Persistent link: https://www.econbiz.de/10014544800

The Concave Phillips Curve

Kocherlakota, Narayana Rao - National Bureau of Economic Research - 2024

This paper derives the curvature properties of the short-run Phillips curve in a class of canonical models of price-setting frictions. Contrary to conventional thinking, the Phillips curve is asymptotically horizontal for high levels of economic activity and asymptotically vertical for low...

Persistent link: https://www.econbiz.de/10014544805

Horizontal equity, uncertainty, and economic well-being

David, Martin (ed.); Smeeding, Timothy (contributor) - 1985

Persistent link: https://www.econbiz.de/10013336576

Measures of credit risk and experience

Fiedler, Edgar R.; Pech, Maude R. - 1971

Persistent link: https://www.econbiz.de/10013402354

Risks and global supply chains : What we know and what we need to know

Baldwin, Richard E.; Freeman, Rebecca - National Bureau of Economic Research - 2021

the cost-resiliency trade-off. We propose the risk-versus-reward framework from portfolio theory as a good way to evaluate …Recent supply disruptions catapulted the issue of risk in global supply chains (GSCs) to the top of policy agendas and … whether anti-risk policy is justified. We then discuss how exposures to foreign shocks are measured and argue that exposure is …

Persistent link: https://www.econbiz.de/10012660121

Exchange rates and international macroeconomics

Frenkel, Jacob A. (ed.) - 1983 - 1. [print.]

Persistent link: https://www.econbiz.de/10000043250

NBER macroeconomics annual

National Bureau of Economic Research - Chicago, Ill : Univ. of Chicago Press; 1986-2007: … - 1.1986 -

Persistent link: https://www.econbiz.de/10008376285