Details about Andreas Hornstein

Access statistics for papers by Andreas Hornstein.

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Short-id: pho142

Working Papers

2012

1. Accounting for unemployment: the long and short of it
   Working Paper, Federal Reserve Bank of Richmond

2011

2. On the implementation of Markov-Perfect interest rate and money supply rules: global and local uniqueness
   Working Paper, Federal Reserve Bank of Richmond
   Also in Working Papers, Federal Reserve Bank of Philadelphia (2008) View citations (3)
3. On the implementation of Markov-perfect monetary policy
   Working Papers, Federal Reserve Bank of Philadelphia
4. Transition Dynamics in the Neoclassical Growth Model: The Case of South Korea
   RCER Working Papers, University of Rochester - Center for Economic Research (RCER)
   Also in Working Paper, Federal Reserve Bank of Richmond (2011)

2009

5. Notes on collateral constraints in a simple model of housing
   Working Paper, Federal Reserve Bank of Richmond

2007

6. Frictional Wage Dispersion in Search Models: A Quantitative Assessment
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
   Also in Working Paper, Federal Reserve Bank of Richmond (2006) View citations (22)
   See also Journal Article in American Economic Review (2011)
7. Interest rate versus money supply instruments: on the implementation of Markov-perfect optimal monetary policy
   Working Papers, Federal Reserve Bank of Philadelphia
8. Notes on the inflation dynamics of the New Keynesian Phillips curve
   Working Paper, Federal Reserve Bank of Richmond

2006

9. Frictional Wage Dispersion in Search Models: A Quantitative Approach
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
10. Frictional Wage Inequality: A Puzzle?
    2006 Meeting Papers, Society for Economic Dynamics View citations (1)
11. Home production
    Working Paper, Federal Reserve Bank of Richmond View citations (5)
12. Technical appendix for "Frictional wage dispersion in search models: a quantitative assessment"
    Working Paper, Federal Reserve Bank of Richmond View citations (5)
13. Technology-policy interaction in frictional labor markets
    Working Paper, Federal Reserve Bank of Richmond View citations (6)
    See also Journal Article in Review of Economic Studies (2007)
14. Understanding how employment responds to productivity shocks in a model with inventories
    Working Paper, Federal Reserve Bank of Richmond View citations (6)

2005

15. The Effects of Technical Change on Labor Market Inequalities
    Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. View citations (38)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (2)
    Working Paper, Federal Reserve Bank of Richmond (2004) View citations (2)
    See also Chapter (2005)
16. The Replacement Problem in Frictional Economies: An 'Equivalence Result'
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
17. The replacement problem in frictional economies: a near equivalence result
    Working Paper, Federal Reserve Bank of Richmond View citations (7)
    See also Journal Article in Journal of the European Economic Association (2005)

2004

18. A Quantitative Study of the Replacement Problem in Frictional Economies
    2004 Meeting Papers, Society for Economic Dynamics
19. Productivity, Employment, and Inventories: Smoothing Over Sticky Prices
    2004 Meeting Papers, Society for Economic Dynamics
20. Productivity, employment, and inventories
    Working Paper, Federal Reserve Bank of Richmond View citations (3)

2002

21. Data Appendix to The Role of Real Wages, Productivity, and Fiscal Policy in Germany's Great Depression 1928-37
    Technical Appendices, Review of Economic Dynamics
    See also Journal Article in Review of Economic Dynamics (2002)
22. Should optimal discretionary monetary policy look at money?
    Working Paper, Federal Reserve Bank of Richmond View citations (3)
23. Vintage Capital as an Origin of Inequalities
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    Also in Working Paper, Federal Reserve Bank of Richmond (2002) View citations (2)
    See also Journal Article in Proceedings (2002)

2001

24. Sticky prices and inventories: production smoothing reconsidered
    Working Paper, Federal Reserve Bank of Richmond View citations (6)
25. The role of real wages, productivity and fiscal policy in Germany's Great Depression 1928-1937
    Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
26. The role of real wages, productivity, and fiscal policy in Germany's Great Depression, 1928-37
    Working Paper, Federal Reserve Bank of Richmond View citations (3)
    See also Journal Article in Review of Economic Dynamics (2002)

1999

27. What is the real story for interest rate volatility?
    Working Paper, Federal Reserve Bank of Richmond
    See also Journal Article in German Economic Review (2000)

1998

28. (S,s) Inventory policies in general equilibrium
    Working Paper, Federal Reserve Bank of Richmond View citations (16)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (4)
    UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics (1995) View citations (1)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1995) View citations (9)
    See also Journal Article in Review of Economic Studies (2000)
29. Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?
    Working Papers, Bank of Canada View citations (1)
    Also in Working Paper, Federal Reserve Bank of Richmond (1998) View citations (1)
    See also Journal Article in Canadian Journal of Economics (1999)
30. External vs. internal learning-by-doing in an R&D based growth model
    Working Paper, Federal Reserve Bank of Richmond View citations (8)
31. Staggered prices and inventories: production smoothing reconsidered
    Working Paper, Federal Reserve Bank of Richmond View citations (3)

1997

32. Intermediate inputs and sectoral comovement in the business cycle
    Working Paper, Federal Reserve Bank of Richmond View citations (52)
    See also Journal Article in Journal of Monetary Economics (1997)

1994

33. The real business cycle: intermediate inputs and sectoral comovement
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis View citations (3)

1989

34. The firm and the plant in general equilibrium theory
    Staff Report, Federal Reserve Bank of Minneapolis View citations (27)

Journal Articles

2011

1. Frictional Wage Dispersion in Search Models: A Quantitative Assessment
   American Economic Review, 2011, 101, (7), 2873-98 View citations (9)
   See also Working Paper (2007)
2. Introduction to the special issue on modern macroeconomic theory
   Economic Quarterly, 2011, (3Q), 189-193
3. Potential causes and implications of the rise in long-term unemployment
   Richmond Fed Economic Brief, 2011, (Sep)

2010

4. Monetary policy with interest on reserves
   Economic Quarterly, 2010, (2Q), 153-177

2009

5. On the employment effects of productivity shocks: The role of inventories, demand elasticity, and sticky prices
   Journal of Monetary Economics, 2009, 56, (3), 328-343 View citations (10)
6. Problems for a fundamental theory of house prices
   Economic Quarterly, 2009, (Win), 1-24 View citations (2)

2008

7. Introduction to the New Keynesian Phillips curve
   Economic Quarterly, 2008, (Fall), 301-309

2007

8. Evolving inflation dynamics and the New Keynesian Phillips curve
   Economic Quarterly, 2007, (Fall), 317-339 View citations (7)
9. Technology—Policy Interaction in Frictional Labour-Markets
   Review of Economic Studies, 2007, 74, (4), 1089-1124
   See also Working Paper (2006)

2006

10. Implementation of optimal monetary policy
    Economic Quarterly, 2006, (Spr), 113-133

2005

11. The Replacement Problem In Frictional Economies: A Near-Equivalence Result
    Journal of the European Economic Association, 2005, 3, (5), 1007-1057 View citations (9)
    See also Working Paper (2005)
12. Trend inflation, firm-specific capital, and sticky prices
    Economic Quarterly, 2005, (Fall), 57-83 View citations (12)
13. Unemployment and vacancy fluctuations in the matching model: inspecting the mechanism
    Economic Quarterly, 2005, (Sum), 19-50 View citations (49)

2004

14. (Un)balanced growth
    Economic Quarterly, 2004, (Fall), 25-45

2003

15. Implications of the capital-embodiment revolution for directed R&D and wage inequality
    Economic Quarterly, 2003, (Fall), 25-50 View citations (7)
16. Should a monetary policymaker look at money?
    Journal of Monetary Economics, 2003, 50, (3), 547-579 View citations (14)

2002

17. The Role of Real Wages, Productivity, and Fiscal Policy in Germany's Great Depression 1928-37
    Review of Economic Dynamics, 2002, 5, (1), 100-127 View citations (6)
    See also Working Paper (2002)
    Working Paper (2001)
18. Towards a theory of capacity utilization: shiftwork and the workweek of capital
    Economic Quarterly, 2002, (Spr), 65-86
19. Vintage capital as an origin of inequalities
    Proceedings, 2002, (Nov) View citations (2)
    See also Working Paper (2002)

2001

20. Computers and growth with frictions: aggregate and disaggregate evidence A comment
    Carnegie-Rochester Conference Series on Public Policy, 2001, 55, (1), 217-228

2000

21. (S, s) Inventory Policies in General Equilibrium
    Review of Economic Studies, 2000, 67, (1), 117-45 View citations (19)
    See also Working Paper (1998)
22. The IT revolution: is it evident in the productivity numbers?
    Economic Quarterly, 2000, (Fall), 49-78 View citations (5)
23. The business cycle and industry comovement
    Economic Quarterly, 2000, (Win), 27-48 View citations (16)
24. What is the Real Story for Interest Rate Volatility?
    German Economic Review, 2000, 1, (1), 43-67 View citations (2)
    See also Working Paper (1999)

1999

25. Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?
    Canadian Journal of Economics, 1999, 32, (4), 878-905 View citations (1)
    See also Working Paper (1998)
26. Growth accounting with technological revolutions
    Economic Quarterly, 1999, (Sum), 1-22 View citations (8)

1998

27. Inventory investment and the business cycle
    Economic Quarterly, 1998, (Spr), 49-71 View citations (21)

1997

28. Intermediate inputs and sectoral comovement in the business cycle
    Journal of Monetary Economics, 1997, 40, (3), 573-595 View citations (60)
    See also Working Paper (1997)

1993

29. Money and Insurance in a Turnpike Environment
    Economic Theory, 1993, 3, (1), 19-34 View citations (7)
30. Monopolistic competition, increasing returns to scale, and the importance of productivity shocks
    Journal of Monetary Economics, 1993, 31, (3), 299-316 View citations (58)

1991

31. Insurance Contracts as Commodities: A Note
    Review of Economic Studies, 1991, 58, (5), 917-28 View citations (2)
32. Measures of the Insurance Sector Output
    The Geneva Papers on Risk and Insurance - Issues and Practice, 1991, 16, (2), 191-206 View citations (1)

Chapters

2005

1. The Effects of Technical Change on Labor Market Inequalities
   Chapter 20 in Handbook of Economic Growth, 2005, vol. 1, Part B, pp 1275-1370 View citations (29)
   See also Working Paper (2005)

1996

2. Can Technology Improvements Cause Productivity Slowdowns?
   A chapter in NBER Macroeconomics Annual 1996, Volume 11, 1996, pp 209-276 View citations (91)