Search Results

SORT BY: PREVIOUS / NEXT
Keywords:Business cycles 

Newsletter
A regional perspective on the U.S. business cycle

Chicago Fed Letter , Issue Nov

Report
Using switching models to study business cycle asymmetries: 1. overview of methodology and application

Switching Models are advocated as interesting and tractable alternatives to conventional, linear models of the business cycle. Applications are motivated by the belief that expansions and recessions are distinct regimes with different data generating processes. Therefore, it is important that econometric specifications capture this fundamental asymmetry. With Switching Models, both the time-periods and characteristics of business cycle regimes can be derived simultaneously. Asymmetries can then be tested with a minimum of prior modeling assumptions and restrictions. Results with monthly data ...
Research Paper , Paper 9211

Conference Paper
New financial world: policy shortcomings and remedies

Conference Series ; [Proceedings] , Volume 42 , Issue Jun , Pages 359-370

Working Paper
Endogenous business cycles and the dynamics of output, hours, and consumption

This paper studies the business-cycle fluctuations predicted by a two-sector endogenous-business-cycle model with sector-specific external increasing returns to scale. It focuses on aspects of actual fluctuations that have been identified both as defining features of the business cycle and as ones that standard real-business-cycle models cannot explain: the autocorrelation function of output growth, the impulse response function of output to demand shocks, and the forecastable movements of output, hours, and consumption. For empirically realistic calibrations of the degree of sector-specific ...
Finance and Economics Discussion Series , Paper 1998-19

Conference Paper
Commentary : understanding the Greenspan standard

Proceedings - Economic Policy Symposium - Jackson Hole , Issue Aug , Pages 107-118

Conference Paper
Commentary : separating the business cycle from other economic fluctuations

Proceedings - Economic Policy Symposium - Jackson Hole , Issue Aug , Pages 187-192

Journal Article
Changes in inventory management and the business cycle

Review , Issue Jul , Pages 17-26

Working Paper
Partisan cycles and the consumption volatility puzzle

Standard real business cycle theory predicts that consumption should be smoother than output, as observed in developed countries. In emerging economies, however, consumption is more volatile than income. In this paper the authors provide a novel explanation of this phenomenon, the ?consumption volatility puzzle,? based on political frictions. They develop a dynamic stochastic political economy model where parties that disagree on the size of government (right-wing and left-wing) alternate in power and face aggregate uncertainty. While productivity shocks affect only consumption through ...
Working Papers , Paper 11-21

Working Paper
Specific factors meet intermediate inputs: implications for strategic complementarities and persistence.

A central challenge to monetary business-cycle theory is to find a solution to the problem of persistence and delay in the real effects of monetary shocks. Previous research has identified separately specific factors and intermediate inputs as two promising mechanisms for generating the persistence and delay in a staggered price-setting framework. Models based on either of these two mechanisms have also been used in the design of optimal monetary policy. ; By examining a staggered price model that features both specific factors and intermediate inputs, the author finds an offsetting ...
Working Papers , Paper 04-7

Working Paper
Output dynamics in real business cycle models

The time series literature reports two stylized facts about output dynamics in the United States. GNP growth is positively autocorrelated over short horizons and negatively autocorrelated over longer horizons, and GNP has an important trend reverting component which has a hump-shaped moving average representation. We consider whether various real business cycle (RBC) models are consistent with these stylized facts. ; We find that many RBC models have weak internal propagation mechanisms and must rely on exogenous factors to replicate both stylized facts. In particular, intertemporal ...
Working Papers in Applied Economic Theory , Paper 93-10

FILTER BY year

FILTER BY Series

Working Papers 149 items

Finance and Economics Discussion Series 57 items

Working Papers (Old Series) 49 items

Working Paper Series 48 items

Review 42 items

International Finance Discussion Papers 41 items

show more (57)

FILTER BY Content Type

Working Paper 465 items

Journal Article 255 items

Report 79 items

Conference Paper 72 items

Discussion Paper 33 items

Speech 24 items

show more (4)

FILTER BY Author

Christiano, Lawrence J. 30 items

Piger, Jeremy M. 21 items

Wen, Yi 21 items

Owyang, Michael T. 20 items

Kouparitsas, Michael A. 18 items

Eichenbaum, Martin S. 17 items

show more (495)

FILTER BY Jel Classification

E32 43 items

E24 10 items

E52 9 items

E44 7 items

C32 4 items

E43 4 items

show more (82)

FILTER BY Keywords

Monetary policy 98 items

Econometric models 61 items

Recessions 50 items

Labor market 37 items

Unemployment 32 items

show more (403)

PREVIOUS / NEXT