Details about Thomas Cooley

E-mail:
Homepage:	http://www.thomasfcooley.com
Phone:	917 353-5930
Postal address:	24 West Junipero St. Santa Barbara, CA 93105
Workplace:	Economics Department, Stern School of Business, New York University (NYU), (more information at EDIRC)

Access statistics for papers by Thomas Cooley.

Last updated 2020-02-26. Update your information in the RePEc Author Service.

Short-id: pco35

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Working Papers

2019

1. Commitment and Competition
   2019 Meeting Papers, Society for Economic Dynamics
2. Demographic Obstacles to European Growth
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in 2019 Meeting Papers, Society for Economic Dynamics (2019)

2016

3. The Demographic Deficit
   2016 Meeting Papers, Society for Economic Dynamics View citations (2)
   See also Journal Article in Journal of Monetary Economics (2018)

2014

4. Rating Agencies
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
   Also in Working Papers, Economic Research Institute, Bank of Korea (2013)
   2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (3)

2013

5. Demography and Low Frequency Capital Flows
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
   See also Chapter (2013)
6. Risky Investments with Limited Commitment
   Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (2)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (2)
   2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (1)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (2)

2012

7. The Farm, the City, and the Emergence of Social Security
   Working Papers, Barcelona Graduate School of Economics View citations (1)
   Also in Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2006) View citations (5)
   NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (4)
   IZA Discussion Papers, Institute of Labor Economics (IZA) (2008)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (3)
   2007 Meeting Papers, Society for Economic Dynamics (2007)
   UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) (2012) View citations (1)
   See also Journal Article in Journal of Economic Growth (2013)

2011

8. Global Capital Flows: The Roles of Demography, Productivity and Taxes
   2011 Meeting Papers, Society for Economic Dynamics
9. Market Failures and Regulatory Failures: Lessons from Past and Present Financial Crises
   ADBI Working Papers, Asian Development Bank Institute View citations (1)
   Also in Governance Working Papers, East Asian Bureau of Economic Research (2011) View citations (1)
   Macroeconomics Working Papers, East Asian Bureau of Economic Research (2011) View citations (1)
   Finance Working Papers, East Asian Bureau of Economic Research (2011) View citations (1)

2010

10. A Theory of Firm Decline
    Levine's Working Paper Archive, David K. Levine View citations (7)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (1)
    Working papers, CIDE, División de Economía (2008) View citations (1)
    Institutions and Markets Papers, Fondazione Eni Enrico Mattei (FEEM) (2010) View citations (8)
    Working Paper series, Rimini Centre for Economic Analysis (2008) View citations (1)
    Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2009) View citations (1)
    Working Papers, Fondazione Eni Enrico Mattei (2010) View citations (6)
    See also Journal Article in Review of Economic Dynamics (2010)
11. Executive Compensation: Facts
    Institutions and Markets Papers, Fondazione Eni Enrico Mattei (FEEM) View citations (6)
    Also in Working Papers, Fondazione Eni Enrico Mattei (2010) View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (13)
    Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2009) View citations (9)
    Working Paper series, Rimini Centre for Economic Analysis (2009) View citations (14)

2006

12. Stock Grants As a Commitment Device
    Staff General Research Papers Archive, Iowa State University, Department of Economics View citations (13)
    Also in Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2004)
    GSIA Working Papers, Carnegie Mellon University, Tepper School of Business View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2006)

2005

13. Innovation and Imitation in a High Information Economy
    2005 Meeting Papers, Society for Economic Dynamics

2004

14. Aggregate Consequences of Limited Contract Enforceability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (179)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2003) View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (29)
    Working Papers, Barcelona Graduate School of Economics (2003) View citations (2)
    See also Journal Article in Journal of Political Economy (2004)
15. Endogenous Social Security
    2004 Meeting Papers, Society for Economic Dynamics

2002

16. Common Currencies versus Monetary Independence
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)

2000

17. THE WELFARE COST OF MARKET INCOMPLETENESS: OPTIMAL FINANCIAL CONTRACTS WITH NON-ENFORCEABILITY CONSTRAINTS
    Computing in Economics and Finance 2000, Society for Computational Economics
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000)

1999

18. Financial Markets and Firm Dynamics
    Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (6)
    See also Journal Article in American Economic Review (2001)
19. Optimal Time-Consistent Monetary Policy in a Phillips Curve World
    Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (1)

1997

20. The Replacement Problem
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (55)
    Also in Working Papers, Centro de Investigacion Economica, ITAM (1994) View citations (17)
    UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics (1995) View citations (9)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1994) View citations (26)
    See also Journal Article in Journal of Monetary Economics (1997)
21. Unanticipated Money
    Economics Series, Institute for Advanced Studies View citations (1)
    See also Journal Article in Journal of Money, Credit and Banking (1997)

1996

22. The Welfare Costs of Nominal Wage Contracting
    Cahiers de recherche CREFE / CREFE Working Papers, CREFE, Université du Québec à Montréal View citations (22)
    See also Journal Article in Review of Economic Studies (1997)
23. Will Social Security Survive the Baby Boom?
    Working Papers, Rochester, Business - General View citations (18)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1996)

1994

24. Equilibrium business cycles with idle resources and variable capacity utilization
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)
    See also Journal Article in Economic Theory (1995)

1993

25. Financial Markets, Specialization, and Learning by Doing
    Working Papers, Rochester, Business - Quantitative Methods Working Paper Series
    Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1991) View citations (5)
    See also Journal Article in Research in Economics (1998)

1991

26. A Theory of Optimal Denomination for Gornment Liablities
    Working Papers, Rochester, Business - General
27. A Time Series Analysis of Real Wages, Consumption, and Asset returns Under Optimal Libor Contrecting: A Cointegration-Euler Equation Approach
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER)
28. Indivisible Assets, Equilibrium, and the Value of Intermediary Output
    Working Papers, Rochester, Business - General View citations (2)
    Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1990)
29. Pricing Interest-Sensitive Claims when Interest Rates Have Stationary Components
    Working Papers, Rochester, Business - General View citations (1)
30. Tax Distortions in a Neoclassical Monetary Economy
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (24)
    Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1991)
    Working Papers, Rochester, Business - General (1991) View citations (2)
    See also Journal Article in Journal of Economic Theory (1992)
31. The Business Cycle with Nominal Contracts
    Working Papers, Rochester, Business - General View citations (15)
    Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1991) View citations (5)
    See also Journal Article in Economic Theory (1995)
32. The Welfare Costs of Moderate Inflations
    Working Papers, Rochester, Business - General View citations (98)
    Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1991) View citations (92)
    See also Journal Article in Journal of Money, Credit and Banking (1991)

1989

33. THE CYCLICAL BEHAVIOR OF PRICES
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (9)
    See also Journal Article in Journal of Monetary Economics (1991)

1988

34. ASYMPTOTIC LIKELIHOOD BASED PREDICTION FUNCTIONS
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (1)
    See also Journal Article in Econometrica (1990)
35. EMPLOYMENT AND HOURS OVER THE BUSINESS CYCLE
    Working Papers, Rochester, Business - General View citations (13)
    See also Journal Article in Journal of Economic Dynamics and Control (1994)
36. THE INFLATION TAX IN A REAL BUSINESS CYCLE MODEL
    Working Papers, Rochester, Business - General
    Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1988) View citations (47)
    UCLA Economics Working Papers, UCLA Department of Economics (1987) View citations (38)
    See also Journal Article in American Economic Review (1989)

1977

37. An Agricultural Time Series-Cross Section Data Set
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

1976

38. A Note on Optimal Smoothing for Time Varying Coefficient Problems
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Chapter (1977)
39. Identification Theory for Time Varying Models
    NBER Working Papers, National Bureau of Economic Research, Inc

1975

40. On the Identification of Time Varying Structures
    NBER Working Papers, National Bureau of Economic Research, Inc

1974

41. Comparison of Robust and Varying Parameter Estimates of a Macroeconometric Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Chapter (1975)
42. Varying-Parameter Supply Functions and the Sources of Economic Distress in American Agriculture, 1866-1914
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

Undated

43. Sensitivity of CEO Pay to Shareholder Wealth in a Dynamic Agency Model
    GSIA Working Papers, Carnegie Mellon University, Tepper School of Business View citations (2)

Journal Articles

2018

1. The demographic deficit
   Journal of Monetary Economics, 2018, 93, (C), 45-62 View citations (2)
   See also Working Paper (2016)

2015

2. Business Cycle Uncertainty and Economic Welfare
   Review of Economic Dynamics, 2015, 18, (2), 185-200 View citations (16)
   See also Software Item (2014)

2013

3. The farm, the city, and the emergence of social security
   Journal of Economic Growth, 2013, 18, (1), 1-32 View citations (8)
   See also Working Paper (2012)

2012

4. Bouncing back from the great recession: the United States versus Europe
   Economic Synopses, 2012

2011

5. The Dodd‐Frank Wall Street Reform and Consumer Protection Act: Accomplishments and Limitations
   Journal of Applied Corporate Finance, 2011, 23, (1), 43-56 View citations (2)

2010

6. A Theory of Firm Decline
   Review of Economic Dynamics, 2010, 13, (4), 861-885 View citations (14)
   See also Working Paper (2010)
   Software Item (2010)
7. Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007–2009
   Foundations and Trends(R) in Finance, 2010, 4, (4), 247-325 View citations (19)

2006

8. Monetary policy and the financial decisions of firms
   Economic Theory, 2006, 27, (1), 243-270 View citations (48)
9. Stock grants as a commitment device
   Journal of Economic Dynamics and Control, 2006, 30, (11), 2191-2216 View citations (15)
   See also Working Paper (2006)

2004

10. Aggregate Consequences of Limited Contract Enforceability
    Journal of Political Economy, 2004, 112, (4), 817-847 View citations (152)
    See also Working Paper (2004)
11. Optimal monetary policy in a Phillips-curve world
    Journal of Economic Theory, 2004, 118, (2), 174-208 View citations (26)

2003

12. Common Currencies vs. Monetary Independence
    Review of Economic Studies, 2003, 70, (4), 785-806 View citations (40)
13. Innovation and Imitation in an Information Age
    Journal of the European Economic Association, 2003, 1, (2-3), 406-418 View citations (1)
14. Society for Economic Dynamics: Interview of Thomas Cooley
    EconomicDynamics Newsletter, 2003, 5, (1)

2001

15. Financial Markets and Firm Dynamics
    American Economic Review, 2001, 91, (5), 1286-1310 View citations (242)
    See also Working Paper (1999)
16. The Cost of Losing Monetary Independence: The Case of Mexico
    Journal of Money, Credit and Banking, 2001, 33, (2), 370-97 View citations (18)

1999

17. A Positive Theory of Social Security Based on Reputation
    Journal of Political Economy, 1999, 107, (1), 135-160 View citations (205)
18. A neoclassical model of the Phillips curve relation
    Journal of Monetary Economics, 1999, 44, (2), 165-193 View citations (121)
19. Government debt and social security in a life-cycle economy: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1999, 50, (1), 111-117 View citations (1)
20. Privatizing Social Security
    Review of Economic Dynamics, 1999, 2, (3), 731-755 View citations (30)

1998

21. Asymmetric information, financial intermediation, and business cycles
    Economic Theory, 1998, 12, (3), 599-620 View citations (25)
22. Business cycle analysis without much theory A look at structural VARs
    Journal of Econometrics, 1998, 83, (1-2), 57-88 View citations (151)
23. Financial markets, specialization, and learning by doing
    Research in Economics, 1998, 52, (4), 333-361 View citations (8)
    See also Working Paper (1993)
24. The role of monetary shocks in equilibrium business cycle theory: Three examples
    European Economic Review, 1998, 42, (3-5), 605-617 View citations (14)

1997

25. Calibrated Models
    Oxford Review of Economic Policy, 1997, 13, (3), 55-69 View citations (45)
26. Postwar British Economic Growth and the Legacy of Keynes
    Journal of Political Economy, 1997, 105, (3), 439-72 View citations (45)
27. The Welfare Cost of Nominal Wage Contracting
    Review of Economic Studies, 1997, 64, (3), 465-484 View citations (22)
    See also Working Paper (1996)
28. The replacement problem
    Journal of Monetary Economics, 1997, 40, (3), 457-499 View citations (64)
    See also Working Paper (1997)
29. Unanticipated Money Growth and the Business Cycle Reconsidered
    Journal of Money, Credit and Banking, 1997, 29, (4), 624-48 View citations (18)
    See also Working Paper (1997)

1996

30. A Time Series Analysis of Real Wages, Consumption, and Asset Returns
    Journal of Applied Econometrics, 1996, 11, (2), 119-34 View citations (36)
31. Will social security survive the baby boom?
    Carnegie-Rochester Conference Series on Public Policy, 1996, 45, (1), 89-121 View citations (22)
    See also Working Paper (1996)

1995

32. Equilibrium Business Cycles with Idle Resources and Variable Capacity Utilization
    Economic Theory, 1995, 6, (1), 35-49 View citations (38)
    See also Working Paper (1994)
33. Indivisible Assets, Equilibrium, and the Value of Intermediation
    Journal of Financial Intermediation, 1995, 4, (1), 48-76 View citations (3)
34. The Business Cycle with Nominal Contracts
    Economic Theory, 1995, 6, (1), 13-33 View citations (79)
    See also Working Paper (1991)
35. What do we know about how monetary policy affects the economy: a conference panel discussion
    Review, 1995, (May), 127-141

1994

36. Employment and hours over the business cycle
    Journal of Economic Dynamics and Control, 1994, 18, (2), 411-432 View citations (106)
    See also Working Paper (1988)

1993

37. A Theory of Optimal Denominations for Government Liabilities
    Economic Theory, 1993, 3, (4), 597-623 View citations (2)
38. An Equilibrium Model of Nominal Bond Prices with Inflation-Output Correlation and Stochastic Volatility: Comment
    Journal of Money, Credit and Banking, 1993, 25, (3), 665-72

1992

39. Tax distortions in a neoclassical monetary economy
    Journal of Economic Theory, 1992, 58, (2), 290-316 View citations (119)
    See also Working Paper (1991)

1991

40. The Welfare Costs of Moderate Inflations
    Journal of Money, Credit and Banking, 1991, 23, (3), 483-503 View citations (93)
    See also Working Paper (1991)
41. The cyclical behavior of prices
    Journal of Monetary Economics, 1991, 28, (1), 25-60 View citations (105)
    See also Working Paper (1989)

1990

42. Asymptotic Likelihood-Based Prediction Functions
    Econometrica, 1990, 58, (5), 1215-34 View citations (1)
    See also Working Paper (1988)

1989

43. Dynamic coalition formation and equilibrium policy selection
    Journal of Monetary Economics, 1989, 24, (2), 211-233
44. Predictive efficiency for simple non-linear models
    Journal of Econometrics, 1989, 40, (1), 33-44
45. The Inflation Tax in a Real Business Cycle Model
    American Economic Review, 1989, 79, (4), 733-48 View citations (457)
    See also Working Paper (1988)

1987

46. Likelihood and other approaches to prediction in dynamic models
    Journal of Econometrics, 1987, 35, (1), 119-142

1986

47. What Will Take the Con Out of Econometrics? A Reply Identification andEstimation of Money Demand
    American Economic Review, 1986, 76, (3), 504-07

1985

48. Atheoretical macroeconometrics: A critique
    Journal of Monetary Economics, 1985, 16, (3), 283-308 View citations (210)
49. Individual forecasting and a ggregate outcomes: A review essay
    Journal of Monetary Economics, 1985, 15, (2), 255-266

1984

50. A New View of the Market Structure-Performance Debate
    Journal of Industrial Economics, 1984, 32, (4), 397-417 View citations (11)
51. Econometric Policy Evaluation: Note
    American Economic Review, 1984, 74, (3), 467-70 View citations (43)

1982

52. A theory of growth controls
    Journal of Urban Economics, 1982, 12, (2), 129-145 View citations (10)

1981

53. Identification and Estimation of Money Demand
    American Economic Review, 1981, 71, (5), 825-44 View citations (59)

1977

54. Rational Expectations in American Agriculture, 1867-1914
    The Review of Economics and Statistics, 1977, 59, (1), 9-17 View citations (2)

1976

55. Estimation in the Presence of Stochastic Parameter Variation
    Econometrica, 1976, 44, (1), 167-84 View citations (88)

1973

56. An Adaptive Regression Model
    International Economic Review, 1973, 14, (2), 364-71 View citations (55)
57. Tests of an Adaptive Regression Model
    The Review of Economics and Statistics, 1973, 55, (2), 248-56 View citations (40)

Chapters

2013

1. Demography and Low-Frequency Capital Flows
   A chapter in NBER International Seminar on Macroeconomics 2013, 2013, pp 94-102
   See also Working Paper (2013)

1977

2. A Note on Optimal Smoothing for Time Varying Coefficient Problems
   A chapter in Annals of Economic and Social Measurement, Volume 6, number 4, 1977, pp 453-456
   See also Working Paper (1976)

1975

3. A Comparison of Robust and Varying Parameter Estimates of a Macro-Econometric Model
   A chapter in Annals of Economic and Social Measurement, Volume 4, number 3, 1975, pp 373-388
   See also Working Paper (1974)

1973

4. Systematic (Non-Random) Variation Models: Varying Parameter Regression: A Theory And Some Applications
   A chapter in Annals of Economic and Social Measurement, Volume 2, number 4, 1973, pp 463-473 View citations (5)

Software Items

2014

1. Code files for "Business Cycle Uncertainty and Economic Welfare"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2015)

2010

2. Code files for "A Theory of Firm Decline"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2010)