Peter Diamond has made fundamental contributions to economic theory over a wide range of areas including search theory and its implications for unemployment (for which he was awarded the Nobel Memorial Prize), optimal taxation, which he pioneered with James Mirrlees, incomplete markets and their...

Auf der Konferenz des Center for International Research on Economic Tendency Surveys wurde eine Prognose der Entwicklung der USA, Japans und der europäischen Wirtschaft vorgelegt. - Ein Schwerpunkt der Vorträge und der Diskussion lag auf der Beobachtung der Wirtschaftsentwicklung im...

This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. We propose a new estimation approach to trimmed mean inflation, determining jointly the upper and lower...

What shocks account for the business cycle frequency and long run movements of output and prices? This paper addresses this question using the identifying assumption that only supply shocks, such as shocks to technology, oil prices, and labor supply affect output in the long run. Real and...

We construct and calibrate a general equilibrium business cycle model with unemployment and precautionary saving. We compute the cost of business cycles and locate the optimum in a set of simple cyclical fiscal policies. Our economy exhibits productivity shocks, giving firms an incentive to hire...