Details about Francois Gourio

Access statistics for papers by Francois Gourio.

Last updated 2025-02-17. Update your information in the RePEc Author Service.

Short-id: pgo158

Working Papers

2024

1. Downward Nominal Rigidities and Bond Premia
   Working Paper Series, Federal Reserve Bank of Chicago

2022

2. Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
   Also in Staff Reports, Federal Reserve Bank of New York (2022) View citations (4)

2020

3. Adaptation and the Cost of Rising Temperature for the U.S. Economy
   Working Paper Series, Federal Reserve Bank of Chicago View citations (2)
   Also in Working Paper Series, Federal Reserve Bank of Chicago (2020) View citations (1)
4. Risk Premia at the ZLB: A Macroeconomic Interpretation
   Working Paper Series, Federal Reserve Bank of Chicago View citations (14)
   Also in Working Paper Series, Federal Reserve Bank of Chicago (2020) View citations (14)
   2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (28)

2018

5. Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (79)
   Also in Working Paper Series, Federal Reserve Bank of Chicago (2018) View citations (70)
   See also Journal Article Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (2018) View citations (101) (2018)
6. Weather Shocks and Climate Change
   2018 Meeting Papers, Society for Economic Dynamics View citations (1)

2017

7. Accounting for Medium-run Macro-finance Trends
   2017 Meeting Papers, Society for Economic Dynamics
8. The Cross-Section of Labor Leverage and Equity Returns
   Working Paper Series, Federal Reserve Bank of Chicago View citations (3)
   Also in Working Papers, U.S. Census Bureau, Center for Economic Studies (2017)
   See also Journal Article The cross-section of labor leverage and equity returns, Journal of Financial Economics, Elsevier (2019) View citations (47) (2019)
9. The Tradeoffs in Leaning Against the Wind
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
   Also in Working Paper Series, Federal Reserve Bank of Chicago (2017) View citations (10)
   See also Journal Article The Trade offs in Leaning Against the Wind, IMF Economic Review, Palgrave Macmillan (2018) View citations (44) (2018)

2016

10. A Missing Generation of Firms? Aggregate Effects of the Decline in New Business Formation
    2016 Meeting Papers, Society for Economic Dynamics View citations (8)
11. Firm Entry and Macroeconomic Dynamics: A State-level Analysis
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (37)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2016) View citations (48)
    See also Journal Article Firm Entry and Macroeconomic Dynamics: A State-Level Analysis, American Economic Review, American Economic Association (2016) View citations (54) (2016)

2015

12. Debt Covenants and Macroeconomic Dynamics
    2015 Meeting Papers, Society for Economic Dynamics
13. Risk Management for Monetary Policy Near the Zero Lower Bound
    Working Paper Series, Federal Reserve Bank of Chicago View citations (85)
    See also Journal Article Risk Management for Monetary Policy Near the Zero Lower Bound, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (2015) View citations (104) (2015)
14. Risk Management for Monetary Policy at the Zero Lower Bound
    2015 Meeting Papers, Society for Economic Dynamics View citations (92)
15. Uncertainty and International Capital Flows
    2015 Meeting Papers, Society for Economic Dynamics View citations (37)

2014

16. Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (20)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (19)
    See also Journal Article Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?, American Economic Review, American Economic Association (2014) View citations (20) (2014)
17. Financial Distress and Endogenous Uncertainty
    2014 Meeting Papers, Society for Economic Dynamics View citations (13)
    Also in 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (2)

2013

18. Size-Dependent Regulations, Firm Size Distribution, and Reallocation
    2013 Meeting Papers, Society for Economic Dynamics View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (12)
    Working Paper Series, Federal Reserve Bank of Chicago (2013) View citations (34)
    See also Journal Article Size‐dependent regulations, firm size distribution, and reallocation, Quantitative Economics, Econometric Society (2014) View citations (65) (2014)

2012

19. Credit risk and disaster risk
    Working Paper Series, Federal Reserve Bank of Chicago View citations (13)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (9)
    NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (9)
    See also Journal Article Credit Risk and Disaster Risk, American Economic Journal: Macroeconomics, American Economic Association (2013) View citations (115) (2013)
20. Macroeconomic implications of time-varying risk premia
    Working Paper Series, European Central Bank

2011

21. Customer Capital
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010)
    See also Journal Article Customer Capital, The Review of Economic Studies, Review of Economic Studies Ltd (2014) View citations (31) (2014)
22. Customer capital and the business cycle
    2011 Meeting Papers, Society for Economic Dynamics View citations (1)
23. International Risk Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    See also Journal Article International risk cycles, Journal of International Economics, Elsevier (2013) View citations (119) (2013)

2010

24. International Disaster Risk, Business Cycles, and Exchange Rates
    2010 Meeting Papers, Society for Economic Dynamics View citations (1)
25. Online Appendix to "Transitional Dynamics of Dividend and Capital Gains Tax Cuts"
    Online Appendices, Review of Economic Dynamics View citations (5)
    See also Journal Article Transitional Dynamics of Dividend and Capital Gains Tax Cuts, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) View citations (34) (2011)
26. Transitional Dynamics of Dividend and Capital Gains Tax Cuts
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article Transitional Dynamics of Dividend and Capital Gains Tax Cuts, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) View citations (34) (2011)

2009

27. Disaster risk and business cycles
    2009 Meeting Papers, Society for Economic Dynamics View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (20)
    See also Journal Article Disaster Risk and Business Cycles, American Economic Review, American Economic Association (2012) View citations (423) (2012)
28. Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2006) View citations (3)
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2008) View citations (3)
    2007 Meeting Papers, Society for Economic Dynamics (2007)
    Boston University - Department of Economics - The Institute for Economic Development Working Papers Series, Boston University - Department of Economics (2006) View citations (2)
    See also Journal Article Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform, American Economic Journal: Macroeconomics, American Economic Association (2010) View citations (68) (2010)

2008

29. Is there a majority to support a capital tax cut?
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics
    See also Journal Article Is there a majority to support a capital tax cut?, Journal of Economic Dynamics and Control, Elsevier (2009) View citations (1) (2009)
30. Labor Leverage, Firms Heterogeneous Sensitivities to the Business Cycle, and the Cross-Section of Returns
    2008 Meeting Papers, Society for Economic Dynamics View citations (6)
31. Time-series predictability in the disaster model
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (26)
    See also Journal Article Time-series predictability in the disaster model, Finance Research Letters, Elsevier (2008) View citations (30) (2008)

2007

32. Disasters and Recoveries: A Note on the Barro-Rietz Explanation of the Equity Premium Puzzle
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (1)
33. INVESTMENT SPIKES: NEW FACTS AND A GENERAL EQUILIBRIUM EXPLORATION
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (128)
    Also in 2007 Meeting Papers, Society for Economic Dynamics (2007) View citations (113)
    NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (128)
    See also Journal Article Investment spikes: New facts and a general equilibrium exploration, Journal of Monetary Economics, Elsevier (2007) View citations (127) (2007)
34. PUTTY-CLAY TECHNOLOGY AND STOCK MARKET VOLATILITY
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (3)
    See also Journal Article Putty-clay technology and stock market volatility, Journal of Monetary Economics, Elsevier (2011) View citations (10) (2011)

2006

35. Firms' Heterogeneous Sensitivities to the Business Cycle, and the Cross-Section of Expected Returns
    2006 Meeting Papers, Society for Economic Dynamics View citations (5)
    Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2006) View citations (5)
36. The Marginal Worker and The Aggregate Elasticity of Labor Supply
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (12)
    Also in 2006 Meeting Papers, Society for Economic Dynamics (2006) View citations (11)

2005

37. Operating Leverage, Stock Market Cyclicality, and the Cross-Section of Returns
    2005 Meeting Papers, Society for Economic Dynamics View citations (4)
    Also in Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics (2005) View citations (5)

Undated

38. Transitional Dynamics of Dividend Tax Reform
    Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics View citations (2)

Journal Articles

2023

1. The Rise of Intangible Investment and the Transmission of Monetary Policy
   Chicago Fed Letter, 2023, no 482, 8

2019

2. Comment
   NBER Macroeconomics Annual, 2019, 33, (1), 284 - 296
3. Has Business Fixed Investment Really Been Unusually Low?
   Chicago Fed Letter, 2019
4. The cross-section of labor leverage and equity returns
   Journal of Financial Economics, 2019, 132, (2), 497-518 View citations (47)
   See also Working Paper The Cross-Section of Labor Leverage and Equity Returns, Working Paper Series (2017) View citations (3) (2017)
5. What is Driving the Return Spread Between “Safe” and “Risky” Assets?
   Chicago Fed Letter, 2019

2018

6. Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia
   Brookings Papers on Economic Activity, 2018, 49, (2 (Fall)), 147-250 View citations (101)
   See also Working Paper Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia, NBER Working Papers (2018) View citations (79) (2018)
7. Seasonal and Business Cycles of U.S. Employment
   Economic Perspectives, 2018, (3), 1-28 View citations (9)
8. The Trade offs in Leaning Against the Wind
   IMF Economic Review, 2018, 66, (1), 70-115 View citations (44)
   See also Working Paper The Tradeoffs in Leaning Against the Wind, NBER Working Papers (2017) View citations (16) (2017)

2017

9. Changes in the Risk-Management Environment for Monetary Policy
   Chicago Fed Letter, 2017

2016

10. Firm Entry and Macroeconomic Dynamics: A State-Level Analysis
    American Economic Review, 2016, 106, (5), 214-18 View citations (54)
    See also Working Paper Firm Entry and Macroeconomic Dynamics: A State-level Analysis, Finance and Economics Discussion Series (2016) View citations (37) (2016)

2015

11. Recent Trends in Capital Accumulation and Implications for Investment
    Chicago Fed Letter, 2015 View citations (6)
12. Risk Management for Monetary Policy Near the Zero Lower Bound
    Brookings Papers on Economic Activity, 2015, 46, (1 (Spring)), 141-219 View citations (104)
    See also Working Paper Risk Management for Monetary Policy Near the Zero Lower Bound, Working Paper Series (2015) View citations (85) (2015)
13. The Effect of Weather on First-Quarter GDP
    Chicago Fed Letter, 2015 View citations (3)
14. The Effect of Winter Weather on U.S. Economic Activity
    Economic Perspectives, 2015, (Q I) View citations (19)

2014

15. Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?
    American Economic Review, 2014, 104, (5), 183-88 View citations (20)
    See also Working Paper Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?, Working Paper Series (2014) View citations (20) (2014)
16. Customer Capital
    The Review of Economic Studies, 2014, 81, (3), 1102-1136 View citations (31)
    See also Working Paper Customer Capital, NBER Working Papers (2011) View citations (13) (2011)
17. Size‐dependent regulations, firm size distribution, and reallocation
    Quantitative Economics, 2014, 5, 377-416 View citations (65)
    See also Working Paper Size-Dependent Regulations, Firm Size Distribution, and Reallocation, 2013 Meeting Papers (2013) View citations (2) (2013)
18. What is the Economic Impact of the Slowdown in New Business Formation?
    Chicago Fed Letter, 2014, (Sep) View citations (7)

2013

19. Credit Risk and Disaster Risk
    American Economic Journal: Macroeconomics, 2013, 5, (3), 1-34 View citations (115)
    See also Working Paper Credit risk and disaster risk, Working Paper Series (2012) View citations (13) (2012)
20. International risk cycles
    Journal of International Economics, 2013, 89, (2), 471-484 View citations (119)
    See also Working Paper International Risk Cycles, NBER Working Papers (2011) View citations (12) (2011)

2012

21. Disaster Risk and Business Cycles
    American Economic Review, 2012, 102, (6), 2734-66 View citations (423)
    See also Working Paper Disaster risk and business cycles, 2009 Meeting Papers (2009) View citations (6) (2009)

2011

22. Putty-clay technology and stock market volatility
    Journal of Monetary Economics, 2011, 58, (2), 117-131 View citations (10)
    See also Working Paper PUTTY-CLAY TECHNOLOGY AND STOCK MARKET VOLATILITY, Boston University - Department of Economics - Working Papers Series (2007) View citations (3) (2007)
23. Transitional Dynamics of Dividend and Capital Gains Tax Cuts
    Review of Economic Dynamics, 2011, 14, (2), 368-383 View citations (34)
    See also Working Paper Online Appendix to "Transitional Dynamics of Dividend and Capital Gains Tax Cuts", Online Appendices (2010) View citations (5) (2010)
    Working Paper Transitional Dynamics of Dividend and Capital Gains Tax Cuts, NBER Working Papers (2010) View citations (5) (2010)
    Software Item Code and data files for "Transitional Dynamics of Dividend and Capital Gains Tax Cuts", Computer Codes (2010) (2010)

2010

24. Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform
    American Economic Journal: Macroeconomics, 2010, 2, (1), 131-68 View citations (68)
    See also Working Paper Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform, NBER Working Papers (2009) View citations (2) (2009)

2009

25. Is there a majority to support a capital tax cut?
    Journal of Economic Dynamics and Control, 2009, 33, (6), 1278-1295 View citations (1)
    See also Working Paper Is there a majority to support a capital tax cut?, Boston University - Department of Economics - Working Papers Series (2008) (2008)

2008

26. Disasters and Recoveries
    American Economic Review, 2008, 98, (2), 68-73 View citations (73)
27. Time-series predictability in the disaster model
    Finance Research Letters, 2008, 5, (4), 191-203 View citations (30)
    See also Working Paper Time-series predictability in the disaster model, Boston University - Department of Economics - Working Papers Series (2008) View citations (26) (2008)

2007

28. Investment spikes: New facts and a general equilibrium exploration
    Journal of Monetary Economics, 2007, 54, (Supplement 1), 1-22 View citations (127)
    See also Working Paper INVESTMENT SPIKES: NEW FACTS AND A GENERAL EQUILIBRIUM EXPLORATION, Boston University - Department of Economics - Working Papers Series (2007) View citations (128) (2007)

Chapters

2018

1. Comment on "The Tail That Keeps the Riskless Rate Low"
   A chapter in NBER Macroeconomics Annual 2018, volume 33, 2018, pp 284-296

Software Items

2010

1. Code and data files for "Transitional Dynamics of Dividend and Capital Gains Tax Cuts"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Transitional Dynamics of Dividend and Capital Gains Tax Cuts, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) View citations (34) (2011)