Search Results
Journal Article
The European debt crisis and U.S. economic growth
The recent strengthening of the correlations between U.S. GDP growth and that of Mexico, Canada, and Euro-19 validates further consideration of the performance of U.S. trade partners for growth.
Journal Article
Construction and the Great Recession
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.
Journal Article
Searching for the financial accelerator: how credit affects the business cycle
Firms started repaying their debts during 2008-2009, and they did so while simultaneously accumulating highly liquid assets. These two observations are puzzling if one believes firms are purportedly starving for credit but cannot obtain it.
Journal Article
Households during the Great Recession: the financial accelerator in action?
Households are the sector that the financial accelerator appears to have hit hardest, according to the data.
Journal Article
Jobless recoveries or jobless growth?
Jobless recoveries since 2000 may be attributed to a slowdown in the long-term employment trend.
Journal Article
The effects of wealth bubbles on consumption
Changes in wealth, according to our simple calculations, can account for almost all of the observed consumption fluctuations of the past two decades.
Journal Article
Has the recent real estate bubble biased the output gap?
We offer a word of caution to policymakers: Policies based on point estimates of the output gap may not rest on solid ground.
Journal Article
Can trade links transmit a European crisis?
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.
Journal Article
The U.S. financial sector's value added: trends now and then
The U.S. financial growth between 1995 and 2006 certainly translated into record-high shareholder returns. Labor compensation returns were also dramatically high at the onset of the current crisis.
Journal Article
Real estate bubbles and weak recoveries
The slow economic recovery may be, at least in part, the natural result of the real estate bubble.