This paper uses dynamic general equilibrium models to quantitatively test the idea that technical change caused the stock market collapse of the mid 1970's, its subsequent stagnation, and recovery. First, I consider the hypothesis that the arrival of information technologies (IT) rendered old...

A growing literature argues that the Information Technology rev- olution caused the stock market crash of 1973-1974, its subsequent stagnation and eventual recovery. This paper employs general equi- librium theory to test whether this good news hypothesis is consistent with the behavior of US...

The market value of U.S. corporations was nearly halved following the Oil Crisis of October 1973. Real energy prices more than doubled by the end of the decade, increasing energy costs and spurring innovation in energy-saving technologies by corporations. This paper uses a neo- classical growth...

This paper uses dynamic general equilibrium models to quantitatively test the idea that technical change caused the stock market collapse of the mid 1970's, its subsequent stagnation, and recovery. First, I consider the hypothesis that the arrival of information technologies (IT) rendered old...

This paper assesses whether a causal relationship exists between recent increases in female labor force participation and the increased prevalence of obesity amongst women. The expansions of the Earned Income Tax Credit (EITC) in the 1980s and 1990s have been established by prior literature as...