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The Macroeconomics of TANSTAAFL [PDF]
SSRN Electronic Journal, 2011 Abstract Market imperfections may lead to underinvestment in dynamic general equilibrium models. An interesting but unexplored question is whether policy interventions which attenuate underinvestment gaps necessarily imply that consumption will initially decline.
Grossmann, Volker +2 more
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Families in Macroeconomics [PDF]
SSRN Electronic Journal, 2016 Much of macroeconomics is concerned with the allocation of physical capital, human capital, and labor over time and across people. The decisions on savings, education, and labor supply that generate these variables are made within families. Yet the family (and decision-making in families) is typically ignored in macroeconomic models.
Doepke, Matthias, Tertilt, Michèle
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The macroeconomics of Model T [PDF]
Journal of Economic Theory, 2009 We study a model of endogenous growth where firms invest both in product and process innovations. Product innovations (that open up completely new product lines) satisfy the advanced wants of the rich. Subsequent process innovations (that decrease costs per unit of quality) transform the luxurious products of the rich into conveniences of the poor.
Reto Foellmi +4 more
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SSRN Electronic Journal, 2011 A New-Keynesian macro-model is estimated accommodating regime-switching behavior in monetary policy and macro-shocks. A key to our estimation strategy is the use of survey-based expectations for inflation and output. Output and inflation shocks shift to the low volatility regime around 1985 and 1990, respectively.
Lieven Baele +4 more
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The Macroeconomics of Microfinance [PDF]
SSRN Electronic Journal, 2012 Abstract What is the aggregate and distributional impact of microfinance? To answer this question, we develop a quantitative macroeconomic framework of entrepreneurship and financial frictions in which microfinance is modelled as guaranteed small-size loans. We discipline and validate our model using recent empirical evaluations of small-
Joseph P. Kaboski +7 more
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The Macroeconomics of Happiness [PDF]
Review of Economics and Statistics, 2001 We show that macroeconomic movements have strong effects on the happiness of nations. First, we find that there are clear microeconomic patterns in the psychological well-being levels of a quarter of a million randomly sampled Europeans and Americans from the 1970's to the 1990's.
Rafael Di Tella +4 more
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Macroeconomics in crisis and macroeconomics in recovery [PDF]
PSL Quarterly Review, 2011 The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis.
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The Macroeconomics of Specificity [PDF]
Journal of Political Economy, 1996 Specific quasi rents arise in a variety of economic relationships and are exposed to opportunism unless fully protected by contract. Rent appropriation has important macroeconomic consequences. Resources are underutilized, factor markets are segmented, production suffers from technological “sclerosis,” job creation and destruction are unbalanced ...
Caballero, Ricardo J. +1 more
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MACROECONOMIC UNCERTAINTY AND MACROECONOMIC PERFORMANCE: ARE THEY RELATED? [PDF]
The Manchester School, 2005 We use a very general bivariate generalized autoregressive conditional heteroskedasticity‐in‐mean model and G7 monthly data covering the 1957–2003 period to test for the impact of real and nominal macroeconomic uncertainty on inflation and output growth. Our evidence supports a number of important conclusions.
Don Bredin, Stilianos Fountas
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SSRN Electronic Journal, 2009 The following look on the current state and the future of macroeconomic data is likely to fail. For one thing, researchers will be disappointed to find that their claims for more and "better" data are not adequately supported; the Amtliche Statistik [(Official Statistics (OS)], while to some degree perhaps sharing this disappointment, may miss ...
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