Remarks before the Morris County Chamber of Commerce, Florham Park, New Jersey.

Remarks at the Dutchess County Regional Chamber of Commerce, Fishkill, New York.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.

Remarks at the State University of New York at New Paltz, New Paltz, New York.

Standard real business cycle models must rely on total factor productivity (TFP) shocks to explain the observed comovement of consumption, investment, and hours worked. This paper shows that a neoclassical model consistent with observed heterogeneity in labor supply and consumption can generate...

Remarks before the Morris County Chamber of Commerce, Florham Park, New Jersey.

Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.

This paper argues that the solution to a dynamic optimization problem of consumption and labor under finite information-processing capacity can simultaneously explain the intertemporal and intratemporal labor wedges. It presents a partial equilibrium model, where a representative risk adverse...

Remarks at the Quarterly Regional Economic Press Briefing, New York City.