◆ changes in business cycles: evidence and explanations(Christina D. Romer)

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Christina D. Romer WORKING PAPER This paper analyzes changes in American business cycles over the twentieth century and suggest a possible explanation for the major changes that have not occurred. T...

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2004-07-17

◆ WHAT INVENTORY BEHAVIOR TELLS US ABOUT BUSINESS CYCLES

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Mark Bils James A. Kahn Manufacturers’ finished ods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventi...

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2004-07-17

◆ Capital Imports and the Jacksonian Economy:The Business Cycle and the Balance of

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Trevor J. O. Dick and John E. Floyd Anglo-American nancial interrelations in the decades before the American Civil War have long been studied to understand better the business cycle phenomena surr...

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2004-07-17

◆ Liquid Assets in Banks: Theory and Practice(Guillermo Alger and Ingela Alger)

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Guillermo Alger and Ingela Alger This paper summarizes theoretical ndings on the determinants of liquid assets held by banks. The ndings are summarized in a series of predictions, some of which are...

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2004-07-16

◆ THE BAIL-IN PROBLEM: SYSTEMATIC ALS,AD HOC MEANS(Barry Eichengreen)

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Barry Eichengreen Christof Rühl working paper In this paper we analyze the recent efforts of the international financial institutions to limit the moral hazard created by their assistance to crisi...

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2004-07-16

◆ AGGREGATE PRICE SHOCKS AND FINANCIAL INSTABILITY:AN HISTORICAL ANALYSIS(Michael

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Michael D. Bordo Michael J. Dueker David C. Wheelock This paper presents empirical evidence on the hypothesis that aggregate price disturbances cause or worsen financial instability. W...

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2004-07-16

◆ Aggregate job destruction and inventory liquidation(Robert E.Hall)

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Robert E.Hall working paper abstract:In a recession,jobs are destroyed and inventories are liquidated. I concentrate on the intertemporal mechanisms that results in economy-wide job destruction and i...

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2004-07-16

◆ Revolution and Evolution in Twentieth-Century Macroeconomics(Michael Woodford)

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Michael Woodford The twentieth century has seen profound progress in economic thought. This has been associated, among other things, with the progress of economics to a fully autonomous disciplinar...

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2004-07-16

◆ LONG-TERM INTEREST RATES IN GLOBALISED MARKETS(Hans Christiansen and Charles Pit

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Hans Christiansen and Charles Pitt的working paper...

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2004-07-16

◆ Solving real business cycle models by solving systems of first order conditions(

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By John H.Cochrane THese notes describe how to set up and solve real business cycle methods by the King Plosser Rebelo method of linearzing first order conditions.Much of the discussion follows Campb...

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2004-07-13

◆ THE TIME CONSISTENCY OF OPTIMAL MONETARY AND FISCAL POLICIES(Fernando Alvarez, P

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Fernando Alvarez, Patrick J.Kehoe, and Palblo Andres Neumeyer的论文...

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2004-07-12

◆ Optimal Monetary Policy with Heterogeneous Agents(Joydeep Bhattacharya Joseph H.

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Joydeep Bhattacharya Joseph H. Haslag的论文...

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2004-07-12

◆ Inflation and Welfare in Models with Trading Frictions(Guillaume Rocheteau and R

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Guillaume Rocheteau and Randall Wright的working paper...

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2004-07-12

◆ Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Sear

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Guillaume Rocheteau and Randall Wright的working paper...

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2004-07-12

◆ Menu Costs and Philips Curves(Mikhail losov )

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Mikhail losov and Robert E. Lucas,Jr.的文章...

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2004-07-12