Details about Christopher Carroll

E-mail:
Homepage:	http://econ.jhu.edu/people/carroll
Phone:	410-516-7602
Postal address:	Department of Economics Mergenthaler Hall 440 Johns Hopkins University Baltimore, MD 21218-2685
Workplace:	Department of Economics, Johns Hopkins University, (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC)

Access statistics for papers by Christopher Carroll.

Last updated 2009-10-15. Update your information in the RePEc Author Service.

Short-id: pca45

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Working Papers

2009

1. A Tractable Model of Buffer Stock Saving
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
2. A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in Peterson Institute Working Paper Series, Peterson Institute for International Economics (2009)

2008

3. International Evidence On Sticky Consumption Growth
   Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
   Also in CFS Working Paper Series, Center for Financial Studies (2008) View citations
   NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations
   Working Paper Series, European Central Bank (2008) View citations

2006

4. How Large Is the Housing Wealth Effect? A New Approach
   Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations
5. Precautionary Saving and Precautionary Wealth
   Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
6. Sticky Expectations and Consumption Dynamics
   Computing in Economics and Finance 2006, Society for Computational Economics View citations

2005

7. Solving Dynamic Stochastic Optimization Problems Using the Method of Endogenous Gridpoints
   2005 Meeting Papers, Society for Economic Dynamics
8. The Epidemiology of Consumption
   2005 Meeting Papers, Society for Economic Dynamics View citations
9. The Method of Endogenous Gridpoints for Solving Dynamic Stochastic Optimization Problems
   Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
   Also in CFS Working Paper Series, Center for Financial Studies (2005) View citations
   NBER Technical Working Papers, National Bureau of Economic Research, Inc (2005) View citations
   See also Journal Article in Economics Letters (2006)

2004

10. Epidemiological expectations and consumption dynamics
    Money Macro and Finance (MMF) Research Group Conference 2003, Money Macro and Finance Research Group View citations
11. Theoretical Foundations of Buffer Stock Saving
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations

2002

12. 'Risky Habits' and the Marginal Propensity to Consume Out Of Permanent Income
    Computing in Economics and Finance 2002, Society for Computational Economics View citations
13. Macroeconomic Expectations of Households and Professional Forecasters
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    See also Journal Article in The Quarterly Journal of Economics (2003)

2001

14. A Theory of the Consumption Function, With and Without Liquidity Constraints (Expanded Version)
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Economic Perspectives (2001)
    Software Item (2001)
15. Individual Learning About Consumption
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations
    See also Journal Article in Macroeconomic Dynamics (2001)
16. Liquidity Constraints and Precautionary Saving
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (2001) View citations
17. Precautionary Saving and the Marginal Propensity to Consume out of Permanent Income
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    See also Software Item (2001)
18. The Epidemiology of Macroeconomic Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (2001) View citations

2000

19. 'Risky Habits' and the Marginal Propensity to Consume Out of Permanent Income or How Much Would a Permanent Tax Cut Boost Japanese Consumption?
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations
20. Portfolios of the Rich
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (2000) View citations
    See also Software Item (2000)
21. REQUIEM FOR THE REPRESENTATIVE CONSUMER? AGGREGATE IMPLICATIONS OF MICROECONOMIC CONSUMPTION BEHAVIOR
    Computing in Economics and Finance 2000, Society for Computational Economics View citations
    See also Journal Article in American Economic Review (2000)
    Software Item (2000)
22. Solving Consumption Models with Multiplicative Habits
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    See also Journal Article in Economics Letters (2000)

1999

23. Unemployment Risk and Precautionary Wealth: Evidence from Households' Balance Sheets
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations
    See also Journal Article in The Review of Economics and Statistics (2003)

1998

24. Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (1998) View citations
    See also Journal Article in Economic Development and Cultural Change (1999)
25. Why Do the Rich Save So Much?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (1997) View citations

1997

26. Comparison Utility in a Growth Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (1997) View citations
    See also Journal Article in Journal of Economic Growth (1997)
27. Death to the Log-Linearized Consumption Euler Equation! (And Very Poor Health to the Second-Order Approximation)
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Economics Working Paper Archive, The Johns Hopkins University,Department of Economics (1997) View citations
    See also Journal Article in Advances in Macroeconomics (2001)
    Software Item (2001)
28. Unemployment Expectations Jumping (Ss) Triggers and Household Balance Sheets
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations
    See also Chapter (1997)

1996

29. Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations
    See also Journal Article in The Quarterly Journal of Economics (1997)

1995

30. How Important is Precautionary Saving?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Paper Series / Economic Activity Section, Board of Governors of the Federal Reserve System (U.S.) (1993) View citations
    See also Journal Article in The Review of Economics and Statistics (1998)
31. On the Concavity of the Consumption Function
    Macroeconomics, EconWPA
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1995)
    See also Journal Article in Econometrica (1996)
32. Saving and growth with habit formation
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations
    See also Journal Article in American Economic Review (2000)
    Software Item (2000)
33. The Nature of Precautionary Wealth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Monetary Economics (1997)

1993

34. Saving and Growth: A Reinterpretation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Paper Series / Economic Activity Section, Board of Governors of the Federal Reserve System (U.S.) (1993) View citations
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1994)

1992

35. How does future income affect current consumption?
    Working Paper Series / Economic Activity Section, Board of Governors of the Federal Reserve System (U.S.) View citations
    See also Journal Article in The Quarterly Journal of Economics (1994)
36. The nature and magnitude of precautionary wealth
    Working Paper Series / Economic Activity Section, Board of Governors of the Federal Reserve System (U.S.) View citations

1991

37. Buffer stock saving and the permanent income hypothesis
    Working Paper Series / Economic Activity Section, Board of Governors of the Federal Reserve System (U.S.) View citations
38. Does consumer sentiment affect household spending? If so why?
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations
    See also Software Item (1994)

1990

39. Why Have Private Saving Rates in the United States and Canada Diverged?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Monetary Economics (1987)

1989

40. Consumption Growth Parallels Income Growth: Some New Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Chapter (1991)

Journal Articles

2008

1. Recent Stock Declines: Panic or the Purge of "Irrational Exuberance"?
   The Economists' Voice, 2008, 5, (7), 6

2006

2. Financial innovation and the Great Moderation: what do household data say? - comments
   Proceedings, 2006, (Nov)
3. The method of endogenous gridpoints for solving dynamic stochastic optimization problems
   Economics Letters, 2006, 91, (3), 312-320 View citations
   See also Working Paper (2005)

2003

4. Macroeconomic Expectations Of Households And Professional Forecasters
   The Quarterly Journal of Economics, 2003, 118, (1), 269-298 View citations
   See also Working Paper (2002)
   Software Item (2003)
5. Unemployment Risk and Precautionary Wealth: Evidence from Households' Balance Sheets
   The Review of Economics and Statistics, 2003, 85, (3), 586-604 View citations
   See also Working Paper (1999)

2001

6. A Theory of the Consumption Function, with and without Liquidity Constraints
   Journal of Economic Perspectives, 2001, 15, (3), 23-45 View citations
   See also Working Paper (2001)
   Software Item (2001)
7. Death to the Log-Linearized Consumption Euler Equation! (And Very Poor Health to the Second-Order Approximation)
   Advances in Macroeconomics, 2001, 1, (advances/1/1), 1003-1003 View citations
   See also Working Paper (1997)
8. INDIVIDUAL LEARNING ABOUT CONSUMPTION
   Macroeconomic Dynamics, 2001, 5, (02), 255-271 View citations
   See also Working Paper (2001)

2000

9. "RISKS HABITS” AND THE MARGINAL PROPENSITY TO CONSUME OUT OF PERMANENT INCOME, OR, HOW MUCH WOULD A PERMANENT TAX CUT BOOST JAPANESE CONSUMPTION?
   International Economic Journal, 2000, 14, (4), 1-40
10. Requiem for the Representative Consumer? Aggregate Implications of Microeconomic Consumption Behavior
    American Economic Review, 2000, 90, (2), 110-115 View citations
    See also Working Paper (2000)
    Software Item (2000)
11. Saving and Growth with Habit Formation
    American Economic Review, 2000, 90, (3), 341-355 View citations
    See also Working Paper (1995)
    Software Item (2000)
12. Solving consumption models with multiplicative habits
    Economics Letters, 2000, 68, (1), 67-77 View citations
    See also Working Paper (2000)

1999

13. Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants
    Economic Development and Cultural Change, 1999, 48, (1), 33-50 View citations
    See also Working Paper (1998)

1998

14. How Important Is Precautionary Saving?
    The Review of Economics and Statistics, 1998, 80, (3), 410-419 View citations
    See also Working Paper (1995)

1997

15. Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
    The Quarterly Journal of Economics, 1997, 112, (1), 1-55 View citations
    See also Working Paper (1996)
16. Comparison Utility in a Growth Model
    Journal of Economic Growth, 1997, 2, (4), 339-67 View citations
    See also Working Paper (1997)
17. The nature of precautionary wealth
    Journal of Monetary Economics, 1997, 40, (1), 41-71 View citations
    See also Working Paper (1995)

1996

18. On the Concavity of the Consumption Function
    Econometrica, 1996, 64, (4), 981-92 View citations
    See also Working Paper (1995)

1994

19. Are There Cultural Effects on Saving? Some Cross-Sectional Evidence
    The Quarterly Journal of Economics, 1994, 109, (3), 685-99 View citations
20. Does Consumer Sentiment Forecast Household Spending? If So, Why?
    American Economic Review, 1994, 84, (5), 1397-1408 View citations
    See also Software Item (1994)
21. How Does Future Income Affect Current Consumption?
    The Quarterly Journal of Economics, 1994, 109, (1), 111-47 View citations
    See also Working Paper (1992)
22. Saving and growth: a reinterpretation
    Carnegie-Rochester Conference Series on Public Policy, 1994, 40, (1), 133-192 View citations
    See also Working Paper (1993)

1992

23. The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence
    Brookings Papers on Economic Activity, 1992, 23, (1992-2), 61-156 View citations

1987

24. Why Is U.S. National Saving So Low?
    Brookings Papers on Economic Activity, 1987, 18, (1987-2), 607-642 View citations
25. Why have private savings rates in the United States and Canada diverged?
    Journal of Monetary Economics, 1987, 20, (2), 249-279 View citations
    See also Working Paper (1990)

Chapters

2007

1. Discussion of 'The Rise in US Household Indebtedness: Causes and Consequences'
   A chapter in The Structure and Resilience of the Financial System, 2007

1997

2. Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets
   A chapter in NBER Macroeconomics Annual 1997, Volume 12, 1997, pp 165-230 View citations
   See also Working Paper (1997)

1991

3. Consumption Growth Parallels Income Growth: Some New Evidence
   A chapter in National Saving and Economic Performance, 1991, pp 305-348 View citations
   See also Working Paper (1989)

Software Items

2003

1. RATS code for Macroeconomic Expectations Of Households And Professional Forecasters
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Journal Article in The Quarterly Journal of Economics (2003)

2001

2. Codes for A Theory of the Consumption Function, With and Without Liquidity Constraints
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (2001)
   Journal Article in Journal of Economic Perspectives (2001)
3. Mathematica code for Death to the Log-Linearized Consumption Euler Equation!
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (1997)
4. Mathematica code for Precautionary Saving and the Marginal Propensity to Consume out of Permanent Income
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (2001)

2000

5. Mathematica code for 'Saving and Growth with Habit Formation' and 'Comparison Utility in a Growth Model'
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (1995)
   Journal Article in American Economic Review (2000)
6. Mathematica code for Requiem for the Representative Consumer?
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (2000)
   Journal Article in American Economic Review (2000)
7. STATA code for Portfolios of the Rich
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (2000)

1999

8. Mathematica code for Solving Microeconomic Dynamic Stochastic Optimization Problems
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
9. Mathematica code for Solving Representative Agent Dynamic Stochastic Optimization Problems
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles

1997

10. Mathematica code for Unemployment Expectations, Jumping (S,s) Triggers, and Household Balance Sheets
    QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles

1994

11. RATS code for Does Consumer Sentiment Forecast Household Spending? If So, Why?
    QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
    See also Working Paper (1991)
    Journal Article in American Economic Review (1994)