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Working Paper
Current real business cycle theories and aggregate labor market fluctuations
Christiano, Lawrence J.; Eichenbaum, Martin S. (1990)
Working Paper Series, Macroeconomic Issues , Paper 90

Working Paper
Estimating deterministic trends in the presence of serially correlated errors
Watson, Mark W.; Canjels, Eugene (1994)
Working Paper Series, Macroeconomic Issues , Paper 94-19

Working Paper
An unobserved-components model of constant-inflation potential output
Kuttner, Kenneth N. (1993)
Working Paper Series, Macroeconomic Issues , Paper 93-2

Working Paper
The evolution of small change
Velde, Francois R.; Sargent, Thomas J. (1997)
Western Europe was plagued with currency shortages from the 14th to the 19th century, at which time a `standard formula' had been devised to cure the problem. We document the evolution of mon- etary theory, policy experiments and minting tech- nology over the course of six hundred years. In a companion paper, we use a cash-in-advance model of commodity money to provide an analytical frame- work for the problem of small change.
Working Paper Series, Macroeconomic Issues , Paper WP-97-13

Working Paper
Sectoral Solow residuals
Burnside, Craig; Rebelo, Sergio; Eichenbaum, Martin S. (1995)
Working Paper Series, Macroeconomic Issues , Paper 95-15

Working Paper
A price target for U.S. monetary policy? Lessons from the experience with money growth targets
Kuttner, Kenneth N.; Friedman, Benjamin M. (1996)
The cutting edge of recent efforts to reshape monetary policy in many countries has been to impose a price target on the central bank. This paper examines such a policy in light of the Federal Reserve System's experience with money targeting from the late 1970s through the mid 1980s. The empirical analysis documents the Federal Reserve's initial use and subsequent disregard of money growth targets, and shows that abandoning these targets was a sensible response to the changing mix of shocks affecting the U.S. economy -- specifically, an increase in the relative volatility of money demand ...
Working Paper Series, Macroeconomic Issues , Paper WP-96-14

Working Paper
Productivity shocks and real business cycles
Evans, Charles L. (1991)
Working Paper Series, Macroeconomic Issues , Paper 91-22

Working Paper
Algorithms for solving dynamic models with occasionally binding constraints
Fisher, Jonas D. M.; Christiano, Lawrence J. (1997)
We describe and compare several algorithms for approximating the solution to a model in which inequality constraints occasionally bind. Their performance is evaluated and compared using various parameterizations of the one sector growth model with irreversible investment. We develop parameterized expectation algorithms which, on the basis of speed, accuracy and convenience of implementation, appear to dominate the other algorithms.
Working Paper Series, Macroeconomic Issues , Paper WP-97-15

Working Paper
North-South business cycles
Kouparitsas, Michael A. (1996)
This paper shows that the economic activity of the industrial North and developing South move together - when the North is above its trend, the South tends to be above its trend. We refer to this phenomenon as the "North-South business cycle." The paper develops a quantitative general equilibrium model of North-South trade that captures many cyclical features of North-South trade and production data. In particular, the high volatility of North-South terms of trade, and strong comovement of Northern and Southern activity. On the basis of this model we argue that North-South business cycles ...
Working Paper Series, Macroeconomic Issues , Paper WP-96-9

Working Paper
Real business cycle theory: wisdom or whimsy?
Eichenbaum, Martin S. (1990)
Working Paper Series, Macroeconomic Issues , Paper 90-13

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