American Economic Journal: Macroeconomics

Công bố khoa học tiêu biểu

* Dữ liệu chỉ mang tính chất tham khảo

Sắp xếp:  
Crises and Recoveries in an Empirical Model of Consumption Disasters
American Economic Journal: Macroeconomics - Tập 5 Số 3 - Trang 35-74 - 2013
Emi Nakamura, Jón Steinsson, Robert J. Barro, José F. Ursúa
We estimate an empirical model of consumption disasters using new data on consumption for 24 countries over more than 100 years, and study its implications for asset prices. The model allows for partial recoveries after disasters that unfold over multiple years. We find that roughly half of the drop in consumption due to disasters is subsequently reversed. Our model generates a sizable equity prem... hiện toàn bộ
Structural Change Out of Agriculture: Labor Push versus Labor Pull
American Economic Journal: Macroeconomics - Tập 3 Số 3 - Trang 127-158 - 2011
Francisco Alvarez‐Cuadrado, Markus Poschke
A declining agricultural employment share is a key feature of economic development. Its main drivers are: improvements in agricultural technology combined with Engel's law release resources from agriculture (“labor push”), and improvements in industrial tech nology attract labor out of agriculture (“labor pull”). We present a model with both channels and evaluate the importance using data on 12 in... hiện toàn bộ
Uncertainty and Economic Activity: Evidence from Business Survey Data
American Economic Journal: Macroeconomics - Tập 5 Số 2 - Trang 217-249 - 2013
Rüdiger Bachmann, Steffen Elstner, Eric Sims
This paper uses survey expectations data to construct empirical proxies for time-varying business-level uncertainty. Access to the micro data from the German IFO Business Climate Survey permits construction of uncertainty measures based on both ex ante disagreement and ex post forecast errors. Ex ante disagreement is strongly correlated with dispersion in ex post forecast errors. Surprise movement... hiện toàn bộ
Culture: An Empirical Investigation of Beliefs, Work, and Fertility
American Economic Journal: Macroeconomics - Tập 1 Số 1 - Trang 146-177 - 2009
Raquel Fernández, Alessandra Fogli
We study culture by examining the work and fertility behavior of second-generation American women. Culture is proxied with past female labor force participation and total fertility rates from the woman's country of ancestry. The values of these variables capture not only economic and institutional conditions but also the country's preferences and beliefs regarding women's roles. Since the women li... hiện toàn bộ
Oil and Conflict: What Does the Cross Country Evidence Really Show?
American Economic Journal: Macroeconomics - Tập 5 Số 1 - Trang 49-80 - 2013
Anca Cotet, Kevin K. Tsui
This paper re-examines the effect of oil wealth on political violence. Using a unique historical panel dataset of oil discoveries, we show that simply controlling for country fixed effects removes the statistical association between the value of oil reserves and civil war onset. Other macro-political violence measures, such as coup attempts, are also uncorrelated with oil wealth. To further addres... hiện toàn bộ
Simple Analytics of the Government Expenditure Multiplier
American Economic Journal: Macroeconomics - Tập 3 Số 1 - Trang 1-35 - 2011
Michael Woodford
This paper explains the key factors that determine the output multiplier of government purchases in New Keynesian models, through a series of simple examples that can be solved analytically. Sticky prices or wages allow for larger multipliers than in a neoclassical model, though the size of the multiplier depends crucially on the monetary policy response. A multiplier well in excess of one is poss... hiện toàn bộ
Tổng số: 6   
  • 1