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The Time Varying Volatility of Macroeconomic Fluctuations

Justiniano, Alejandro - 2006

In this paper we investigate the sources of the important shifts in the volatility of U.S. macroeconomic variables in the postwar period. To this end, we propose the estimation of DSGE models allowing for time variation in the volatility of the structural innovations. We apply our estimation...

Persistent link: https://www.econbiz.de/10012466647

Investment Shocks and Business Cycles

Justiniano, Alejandro - 2009

We study the driving forces of fluctuations in an estimated New Neoclassical Synthesis model of the U.S. economy with several shocks and frictions. In this model, shocks to the marginal efficiency of investment account for the bulk of fluctuations in output and hours at business cycle...

Persistent link: https://www.econbiz.de/10012463079

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?

Justiniano, Alejandro - 2008

This paper demonstrates that an estimated, structural, small open economy model of the Canadian economy cannot account for the substantial influence of foreign-sourced disturbances identified in numerous reduced-form studies. The benchmark model assumes uncorrelated shocks across countries and...

Persistent link: https://www.econbiz.de/10012464100

Healthy Living in Hard Times

Ruhm, Christopher J. - 2003

Using microdata for adults from the 1987-2000 years of the Behavioral Risk Factor Surveillance System, I show that smoking and height-adjusted weight decline during temporary economic downturns while leisure-time physical activity rises. The drop in tobacco use occurs disproportionately among...

Persistent link: https://www.econbiz.de/10012469235

Deaths Rise in Good Economic Times : Evidence From the OECD

Gerdtham, Ulf-G. - 2002

This study uses aggregate data for 23 OECD countries over the 1960-1997 period to examine the relationship between macroeconomic conditions and fatalities. The main finding is that total mortality and deaths from several common causes increase when labor markets strengthen. For instance,...

Persistent link: https://www.econbiz.de/10012469348

Does Drinking Really Decrease in Bad Times?

Ruhm, Christopher J. - 2001

This paper investigates the relationship between macroeconomic conditions, alcohol use, and drinking problems using individual-level data from the 1987-1999 years of the Behavioral Risk Factor Surveillance System. We confirm the procyclical variation in overall drinking identified in previous...

Persistent link: https://www.econbiz.de/10012470207

Are Recessions Good For Your Health?

Ruhm, Christopher J. - 1996

This study examines the relationship between economic conditions and health. Fixed-effect models are estimated using state level data for the 1972-1991 time period. Health is proxied by total and age- specific mortality rates, as well as by 10 particular causes of death. Total mortality and nine...

Persistent link: https://www.econbiz.de/10012473278

The Mortgage Rate Conundrum

Justiniano, Alejandro - 2017

We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following the end of the Federal Reserve expansionary cycle in June 2003, mortgage rates failed to rise according to their historical relationship with Treasury yields, leading to...

Persistent link: https://www.econbiz.de/10012453927

Macroeconomic Conditions and Opioid Abuse

Hollingsworth, Alex - 2017

We examine how deaths and emergency department (ED) visits related to use of opioid analgesics (opioids) and other drugs vary with macroeconomic conditions. As the county unemployment rate increases by one percentage point, the opioid death rate per 100,000 rises by 0.19 (3.6%) and the opioid...

Persistent link: https://www.econbiz.de/10012455489

Credit Supply and the Housing Boom

Justiniano, Alejandro - 2015

The housing boom that preceded the Great Recession was due to an increase in credit supply driven by looser lending … constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical … fall in mortgage rates. These facts are difficult to reconcile with the popular view that attributes the housing boom to …

Persistent link: https://www.econbiz.de/10012457792