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Bank:Federal Reserve Bank of Chicago  Series:Working Paper Series, Macroeconomic Issues 

Working Paper
Tobin's Q and asset returns: implications for business cycle analysis

Working Paper Series, Macroeconomic Issues , Paper 95-14

Working Paper
Money, output, and inflation: testing the P-star restrictions

Working Paper Series, Macroeconomic Issues , Paper 90-8

Working Paper
Productivity shocks and real business cycles

Working Paper Series, Macroeconomic Issues , Paper 91-22

Working Paper
North-South business cycles

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
Asset return volatility with extremely small costs of consumption adjustment

Working Paper Series, Macroeconomic Issues , Paper 94-23

Working Paper
North-South terms of trade: an empirical investigation

My empirical analysis a reveals a strong link between the terms of trade of industrial and developing countries. I show that the terms of trade developing countries are essentially the relative prices of commodity exports and manufactured imports. Similarly, I find that terms of trade fluctuations of industrial countries are heavily influenced by movements in the relative price of manufactured exports and commodity imports. This means that improvements in the terms of trade of developing countries imply a worsening in the terms of trade of developing industrial countries, and vice versa. One ...
Working Paper Series, Macroeconomic Issues , Paper WP-97-05

Working Paper
Production and inventory control at the General Motors Corporation during the 1920s and 1930s

Working Paper Series, Macroeconomic Issues , Paper 92-10

Working Paper
Barriers to trade and union wage dynamics

Working Paper Series, Macroeconomic Issues , Paper 92-22

Working Paper
Stock market dispersion and real economic activity: evidence from quarterly data

Working Paper Series, Macroeconomic Issues , Paper 90-15

Working Paper
Seasonal Solow residuals and Christmas: a case for labor hoarding and increasing returns

Working Paper Series, Macroeconomic Issues , Paper 91-20

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Working Paper 126 items

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Christiano, Lawrence J. 18 items

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