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New Keynesian models : not yet useful for policy analysis

Chari, Varadarajan V. (contributor); … - 2008

In the 1970s macroeconomists often disagreed bitterly. Macroeconomists have now largely converged on method, model design, and macroeconomic policy advice. The disagreements that remain all stem from the practical implementation of the methodology. Some macroeconomists think that New Keynesian...

Persistent link: https://www.econbiz.de/10003774553

Optimal control and spatial heterogeneity : pattern formation in economc-ecological models

Brock, William A. (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003357251

Sales and the real effects of monetary policy

Kehoe, Patrick J. (contributor); … - 2007

In the data, a sizable fraction of price changes are temporary price reductions referred to as sales. Existing models include no role for sales. Hence, when confronted with data in which a large fraction of price changes are sales related, the models must either exclude sales from the data or...

Persistent link: https://www.econbiz.de/10003479621

Comparing alternative representations, methodologies, and decompositions in business cycle accounting

Chari, Varadarajan V. (contributor); … - 2006

Persistent link: https://www.econbiz.de/10003485980

If exchange rates are random walks then almost everything we say about monetary policy is wrong

Alvarez, Fernando (contributor); Atkeson, Andrew (contributor) - 2007

Persistent link: https://www.econbiz.de/10003486025

Total factor productivity growth when factors of production generate environmental externalities

Xepapadeas, Anastasios; Vouvaki, Dimitra - 2009

Total factor productivity growth (TFPG) has been traditionally associated with technological change. We show that when a factor of production, such as energy, generates an environmental externality in the form of CO2 emissions which is not internalized because of lack of environmental policy,...

Persistent link: https://www.econbiz.de/10008810294

Sticky prices and sectoral real exchange rates

Kehoe, Patrick J. (contributor); … - 2007

theory for persistence have some modest support: in the data, the stickier is the price of a good the more persistent is its … real exchange rate, but the theory predicts much more variation in persistence than is in the data. The predictions of the … theory for volatiity fare less well: in the data, the stickier is the price of a good the smaller is its conditional variance …

Persistent link: https://www.econbiz.de/10003579972

Reply to Solow

Chari, Varadarajan V. (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003580339

Energy balance climate models and the spatial structure of optimal mitigation policies

Brock, William A.; Engstrom, Gustav; Xepapadeas, Anastasios - 2012

We develop a one-dimensional energy balance climate model with heat transportation across locations. We introduce the concept of potential world GDP at time t, and we introduce, through the temperature function, spatial characteristics into the damage function which make damages latitude...

Persistent link: https://www.econbiz.de/10009487086

Regulating the environmental consequences of preferences for social status within an evolutionary framework

Sartzetakis, Eftichios Sofokles; Xepapadeas, Anastasios; … - 2015

Taking as given that we are consuming too much and that overconsumption leads to environmental degradation, the present paper examines the regulator's choices between informative advertisement and consumption taxation. We model overconsumption by considering individuals that care about social...

Persistent link: https://www.econbiz.de/10010513995