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Monetary Policy When Potential Output is Uncertain : Understanding the Growth Gamble of the 1990s

Gorodnichenko, Yuriy - 2006

1990s. It shows that if the central bank is committed to reverse policy errors it makes because of unwarranted optimism …, inflation can remain in check even if the central bank keeps interest rates low because of this optimism. In particular, a price … public does not share the central bank's optimism about shifts in potential output. The paper shows that price level …

Persistent link: https://www.econbiz.de/10012466400

Federal Reserve Policy : Cause and Effect

Shapiro, Matthew D. - 1993

Romer and Romer (1989,1990,1992) identify dates where the Federal Reserve appears to have shifted its policy towards reducing the rate of inflation. This paper examines the economic context that drives this decision. It finds that the Fed appears to weigh the outlook for unemployment as well as...

Persistent link: https://www.econbiz.de/10012474617

Why Do Computers Depreciate?

Geske, Michael J. - 2004

The value of installed computers falls rapidly and therefore computers have a very high user cost. The paper provides a complete account of the non-financial user cost of personal computers -- decomposing it into replacement cost change, obsolescence, instantaneous depreciation, and age-related...

Persistent link: https://www.econbiz.de/10012467858

Maternal Employment and Adolescent Development

Ruhm, Christopher J. - 2004

This study investigates how maternal employment is related to the outcomes of 10 and 11 year olds after controlling for a wide variety of child, mother and family background characteristics. The results suggest that the mother's labor supply has deleterious effects on cognitive development,...

Persistent link: https://www.econbiz.de/10012468000

Phased-In Tax Cuts and Economic Activity

House, Christopher L. - 2004

Phased-in tax reductions are a common feature of tax legislation. This paper uses a dynamic general equilibrium model to quantify the effects of delaying tax cuts. According to the analysis of the model, the phased-in tax cuts of the 2001 tax law substantially reduced employment, output, and...

Persistent link: https://www.econbiz.de/10012468278

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

Heterogeneity in Expectations, Risk Tolerance, and Household Stock Shares : The Attenuation Puzzle

Ameriks, John - 2018

relative magnitudes in proportion with the predictions of theories. Incorporating survey measurement error in the estimation … of what benchmark finance theories predict. Because of the careful attention in the estimation to measurement error, the …

Persistent link: https://www.econbiz.de/10012480920

Shackling the Identification Police?

Ruhm, Christopher J. - 2018

This paper examines potential tradeoffs between research methods in answering important questions versus providing more cleanly identified estimates on problems that are potentially of lesser interest. The strengths and limitations of experimental and quasi-experimental methods are discussed and...

Persistent link: https://www.econbiz.de/10012480971

Taking the Measure of a Fatal Drug Epidemic

Ruhm, Christopher J. - 2016

This analysis utilizes death certificate data from the Multiple Cause of Death (MCOD) files to better measure the specific drugs involved in drug poisoning fatalities. Statistical adjustment procedures are used to provide more accurate estimates, accounting for the understatement in death...

Persistent link: https://www.econbiz.de/10012456174

Cognitive Performance and Labor Market Outcomes

Lin, Dajun - 2016

We use information from the National Longitudinal Survey of Youth 1979 (NLSY79) and supplementary data sources to examine how cognitive performance, measured at approximately the end of secondary schooling, is related to the labor market outcomes of 20 through 50 year olds. Our estimates control...

Persistent link: https://www.econbiz.de/10012456207