The boom in real estate prices during the early 2000s and the subsequent bust were key factors underlying the recessions in the United States and Europe.

The slow economic recovery may be, at least in part, the natural result of the real estate bubble.

Jobless recoveries since 2000 may be attributed to a slowdown in the long-term employment trend.

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...

Changes in wealth, according to our simple calculations, can account for almost all of the observed consumption fluctuations of the past two decades.

A GIIPS crisis wouldn't have too strong an effect on the U.S. economy, but an EU-wide crisis may be a serious concern.

We offer a word of caution to policymakers: Policies based on point estimates of the output gap may not rest on solid ground.

What is the optimal policy response to a negative sectoral shock? How do frictions in goods and labor markets affect the nature and speed of the process of reallocating resources across alternative uses? Should government controlled inputs be allocated to compensate for frictions faced by the...

This paper assesses the macroeconomic and distributional impact of personal income tax (PIT) reforms in the U.S. drawing on a multi-sector heterogenous agents model in which consumers have non-homothetic preferences and sectors differ in terms of their relative labor and skill intensity. The...