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Keywords:Economic growth 

The national and regional economy

Remarks at the New Jersey Performing Arts Center, Newark, New Jersey.
Speech , Paper 161

The recovery and monetary policy

Remarks at the National Association for Business Economics Annual Meeting, New York City.
Speech , Paper 89

Working Paper
The analytics of technology news shocks

This paper constructs several models in which, unlike the standard neoclassical growth model, positive news about future technology generates an increase in current consumption, hours and investment. These models are said to exhibit procyclical news shocks. We find that all models that exhibit procyclical news shocks in our paper have two commonalities. There are mechanisms to ensure that: (I) consumption does not crowd out investment, or vice versa; (II) the benefit of forgoing leisure in response to news shocks outweighs the cost. Among the models we consider, we believe, one model holds ...
Working Papers , Paper 2013-036

Working Paper
Capital misallocation and aggregate factor productivity

We propose a sectoral?shift theory of aggregate factor productivity for a class of economies with AK technologies, limited loan enforcement, and a constant production possibilities frontier. Both the growth rate and TFP respond to random and persistent endogenous fluctuations in the sectoral distribution of physical capital which, in turn, responds to reversible exogenous shifts in relative sector productivities. Surplus capital from less productive sectors is lent to more productive ones in the form of secured collateral loans, as in Kiyotaki?Moore (1997), and also as unsecured reputational ...
Working Papers , Paper 2012-046

Working Paper
A two-sector model of endogenous growth with leisure externalities

This paper considers the impact of leisure preference and leisure externalities on growth and labor supply in a Lucas [12] type model, as in Gmez [7], with a separable non-homothetic utility and the assumption that physical and human capital are both necessary inputs in both the goods and the education sectors. In spite of the non-concavities due to the leisure externality, the balanced growth path is always unique, which guarantees global stability for comparative-static exercises. We find that small differences in preferences toward leisure or in leisure externalities can generate ...
Working Papers , Paper 2012-045

Conference Paper
Achieving maximum long-term growth

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
General discussion: setting priorities for long-run growth

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
General discussion: the future of economic convergence

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
General discussion: luncheon address: resource-based growth in poor countries and the role of central banks

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
Fostering a Dynamic Global Economy : Economic Policy Symposium, Jackson Hole, Wyoming, August 24-26, 2017

Proceedings - Economic Policy Symposium - Jackson Hole


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Belka, Marek 3 items

Hatchondo, Juan Carlos 3 items

Kliesen, Kevin L. 3 items

Mester, Loretta J. 3 items

Romero, Jessica Sackett 3 items

Sarte, Pierre-Daniel G. 3 items

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Economic growth 79 items

Economic development 17 items

Business cycles 16 items

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