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Farhi, Emmanuel - 2009

expected exchange rate depreciations (appreciations) for high (low) interest rate currencies, suggesting that disaster risk is … priced in currency markets. To study the price of disaster risk, we propose a simple structural model that includes both … Gaussian and disaster risk and can be estimated even in samples that do not contain disasters. Estimating the model over the …

Persistent link: https://www.econbiz.de/10012463588

Speculative growth : hints from the US economy

Caballero, Ricardo J. (contributor); … - 2004 - [Elektronische Ressource]. - Rev

Persistent link: https://www.econbiz.de/10002111075

Strategic Trade, Competitive Industries and Agricultural Trade Disputes

Bagwell, Kyle - 2000

The primary predictions of strategic-trade theory are not restricted to imperfectly-competitive markets. Indeed, these … predictions emerge in a natural three-country extension of the traditional theory of trade policy in competitive markets, once the … theory is augmented to allow for politically-motivated governments, so that the sign of export policy may be converted from …

Persistent link: https://www.econbiz.de/10012470921

A Short Note on Aggregating Productivity

Baqaee, David - 2019

This paper discusses two simple decompositions for aggregate productivity analysis in the presence of distortions and in general equilibrium. The first is a generalization of Baqaee and Farhi (2017) and the second is due to Petrin and Levinsohn (2012). In the process, we propose a new...

Persistent link: https://www.econbiz.de/10012479640

The Darwinian Returns to Scale

Baqaee, David - 2020

How does an increase in the size of the market due to fertility, immigration, or trade integration, affect welfare and real GDP? We study this question using a model with heterogeneous firms, fixed costs, and monopolistic competition. We decompose the change in welfare into changes in technical...

Persistent link: https://www.econbiz.de/10012481722

Entry vs. Rents

Baqaee, David - 2020

A tension between entry and rents lies at the core of a general theory of aggregation with scale effects. This paper …

Persistent link: https://www.econbiz.de/10012481723

Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis

Baqaee, David - 2020

We study supply and demand shocks in a general disaggregated model with multiple sectors, multiple factors, input-output linkages, downward nominal wage rigidities, credit-constraints, and a zero lower bound. We use the model to understand how the Covid-19 crisis, an omnibus of supply and demand...

Persistent link: https://www.econbiz.de/10012481735

Bubbly Liquidity

Farhi, Emmanuel - 2011

This paper analyzes the possibility and the consequences of rational bubbles in a dy- namic economy where financially constrained firms demand and supply liquidity. Bub- bles are more likely to emerge, the scarcer the supply of outside liquidity and the more limited the pledgeability of...

Persistent link: https://www.econbiz.de/10012461908

Insurance and Taxation over the Life Cycle

Farhi, Emmanuel - 2011

We consider a dynamic Mirrlees economy in a life cycle context and study the op- timal insurance arrangement. Individual productivity evolves as a Markov process and is private information. We use a first order approach in discrete and continuous time and obtain novel theoretical and numerical...

Persistent link: https://www.econbiz.de/10012461909

International Trade and Domestic Regulation

Staiger, Robert W. - 2009

Existing formal models of the relationship between trade policy and regulatory policy suggest the potential for a regulatory race to the bottom. WTO rules and disputes, however, center on complaints about excessively stringent regulations. This paper bridges the gap between the existing formal...

Persistent link: https://www.econbiz.de/10012463108