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Details about Andreas Hornstein

Workplace:Federal Reserve Bank of Richmond, (more information at EDIRC)

Access statistics for papers by Andreas Hornstein.

Last updated 2019-07-09. Update your information in the RePEc Author Service.

Short-id: pho142


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Working Papers

2019

  1. Aggregate Implications of Changing Sectoral Trends
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)
    Also in Working Paper, Federal Reserve Bank of Richmond (2019) Downloads View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2019) Downloads View citations (1)
  2. Aggregate Labor Force Participation and Unemployment and Demographic Trends
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (1)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2019) Downloads View citations (1)

2018

  1. Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries
    Working Paper, Federal Reserve Bank of Richmond Downloads
    Also in Working papers, Yonsei University, Yonsei Economics Research Institute (2018) Downloads

2017

  1. Estimating Matching Efficiency with Variable Search Effort
    2017 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Working Paper, Federal Reserve Bank of Richmond (2016) Downloads View citations (6)
    Working Paper Series, Federal Reserve Bank of San Francisco (2015) Downloads View citations (5)
  2. Generalized Matching Functions and Resource Utilization Indices for the Labor Market
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads
    See also Journal Article in Economic Quarterly (2016)

2014

  1. Monetary Policy and Global Equilibria in an Economy with Capital
    2014 Meeting Papers, Society for Economic Dynamics Downloads

2012

  1. Accounting for unemployment: the long and short of it
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (8)

2011

  1. On the implementation of Markov-Perfect interest rate and money supply rules: global and local uniqueness
    Working Paper, Federal Reserve Bank of Richmond Downloads
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2008) Downloads View citations (3)
  2. On the implementation of Markov-perfect monetary policy
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (2)
  3. Transition Dynamics in the Neoclassical Growth Model: The Case of South Korea
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) Downloads View citations (1)
    Also in Working Paper, Federal Reserve Bank of Richmond (2011) Downloads View citations (1)

    See also Journal Article in The B.E. Journal of Macroeconomics (2015)

2009

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

2007

  1. Frictional Wage Dispersion in Search Models: A Quantitative Assessment
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
    Also in Working Paper, Federal Reserve Bank of Richmond (2006) Downloads View citations (23)

    See also Journal Article in American Economic Review (2011)
  2. Interest rate versus money supply instruments: on the implementation of Markov-perfect optimal monetary policy
    Working Papers, Federal Reserve Bank of Philadelphia Downloads
  3. Notes on the inflation dynamics of the New Keynesian Phillips curve
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (1)

2006

  1. Frictional Wage Dispersion in Search Models: A Quantitative Approach
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (7)
  2. Frictional Wage Inequality: A Puzzle?
    2006 Meeting Papers, Society for Economic Dynamics
  3. Home production
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (5)
  4. Technical appendix for \\"Frictional wage dispersion in search models: a quantitative assessment\\"
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (6)
  5. Technology-policy interaction in frictional labor markets
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (5)
    See also Journal Article in Review of Economic Studies (2007)
  6. Understanding how employment responds to productivity shocks in a model with inventories
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (6)

2005

  1. The Effects of Technical Change on Labor Market Inequalities
    Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. Downloads View citations (21)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) Downloads View citations (4)
    Working Paper, Federal Reserve Bank of Richmond (2004) Downloads View citations (4)

    See also Chapter (2005)
  2. The Replacement Problem in Frictional Economies: An 'Equivalence Result'
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (6)
  3. The replacement problem in frictional economies: a near equivalence result
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (9)
    See also Journal Article in Journal of the European Economic Association (2005)

2004

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

2002

  1. Data Appendix to The Role of Real Wages, Productivity, and Fiscal Policy in Germany's Great Depression 1928-37
    Online Appendices, Review of Economic Dynamics Downloads View citations (4)
    See also Journal Article in Review of Economic Dynamics (2002)
  2. Should optimal discretionary monetary policy look at money?
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (2)
  3. Vintage Capital as an Origin of Inequalities
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (5)
    Also in Working Paper, Federal Reserve Bank of Richmond (2002) View citations (3)

    See also Journal Article in Proceedings (2002)

2001

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

1999

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

1998

  1. (S,s) Inventory policies in general equilibrium
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (17)
    Also in UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics (1995) Downloads View citations (1)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1995) Downloads View citations (9)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) Downloads View citations (4)

    See also Journal Article in Review of Economic Studies (2000)
  2. Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?
    Staff Working Papers, Bank of Canada Downloads View citations (2)
    Also in Working Paper, Federal Reserve Bank of Richmond (1998) Downloads View citations (2)

    See also Journal Article in Canadian Journal of Economics (1999)
  3. External vs. internal learning-by-doing in an R&D based growth model
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (8)
  4. Staggered prices and inventories: production smoothing reconsidered
    Working Paper, Federal Reserve Bank of Richmond View citations (2)

1997

  1. Intermediate inputs and sectoral comovement in the business cycle
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (77)
    See also Journal Article in Journal of Monetary Economics (1997)

1994

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

1989

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

Journal Articles

2019

  1. How Have Changing Sectoral Trends Affected GDP Growth?
    FRBSF Economic Letter, 2019 Downloads

2018

  1. The Labor Force Participation Rate Trend and Its Projections
    FRBSF Economic Letter, 2018 Downloads

2017

  1. How Much Has Job Matching Efficiency Declined?
    FRBSF Economic Letter, 2017 Downloads View citations (1)

2016

  1. Assessing the Effect of the Affordable Care Act on Part-Time Employment
    Richmond Fed Economic Brief, 2016, (October) Downloads View citations (1)
  2. Generalized Matching Functions and Resource Utilization Indices for the Labor Market
    Economic Quarterly, 2016, (2Q), 105-126 Downloads
    See also Working Paper (2017)

2015

  1. Inflation Targeting: Could Bad Luck Explain Persistent One-Sided Misses?
    Richmond Fed Economic Brief, 2015, (Sept) Downloads
  2. The Rise in Long-Term Unemployment: Potential Causes and Implications
    Economic Quarterly, 2015, (2Q), 125-149 Downloads
  3. Transition dynamics in the neoclassical growth model: the case of South Korea
    The B.E. Journal of Macroeconomics, 2015, 15, (2), 649-676 Downloads View citations (2)
    See also Working Paper (2011)

2014

  1. Does the Unemployment Rate Really Overstate Labor Market Recovery?
    Richmond Fed Economic Brief, 2014, (June) Downloads View citations (1)
  2. Measuring Resource Utilization in the Labor Market
    Economic Quarterly, 2014, (1Q), 1-21 Downloads View citations (14)

2013

  1. Why Labor Force Participation (Usually) Increases when Unemployment Declines
    Economic Quarterly, 2013, (1Q), 1-23 Downloads View citations (2)
  2. Will a Surge in Labor Force Participation Impede Unemployment Rate Improvement?
    Richmond Fed Economic Brief, 2013, (Aug) Downloads

2011

  1. Frictional Wage Dispersion in Search Models: A Quantitative Assessment
    American Economic Review, 2011, 101, (7), 2873-98 Downloads View citations (103)
    See also Working Paper (2007)
  2. Introduction to the special issue on modern macroeconomic theory
    Economic Quarterly, 2011, 97, (3Q), 189-193 Downloads
  3. Potential causes and implications of the rise in long-term unemployment
    Richmond Fed Economic Brief, 2011, (Sep) Downloads

2010

  1. Monetary policy with interest on reserves
    Economic Quarterly, 2010, 96, (2Q), 153-177 Downloads View citations (3)

2009

  1. 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 Downloads View citations (20)
  2. Problems for a fundamental theory of house prices
    Economic Quarterly, 2009, 95, (Win), 1-24 Downloads View citations (10)

2008

  1. Introduction to the New Keynesian Phillips curve
    Economic Quarterly, 2008, 94, (Fall), 301-309 Downloads View citations (3)

2007

  1. Evolving inflation dynamics and the New Keynesian Phillips curve
    Economic Quarterly, 2007, 93, (Fall), 317-339 Downloads View citations (13)
  2. Technology—Policy Interaction in Frictional Labour-Markets
    Review of Economic Studies, 2007, 74, (4), 1089-1124 Downloads View citations (24)
    See also Working Paper (2006)

2006

  1. Implementation of optimal monetary policy
    Economic Quarterly, 2006, 92, (Spr), 113-133 Downloads

2005

  1. The Replacement Problem In Frictional Economies: A Near-Equivalence Result
    Journal of the European Economic Association, 2005, 3, (5), 1007-1057 Downloads View citations (9)
    See also Working Paper (2005)
  2. Trend inflation, firm-specific capital, and sticky prices
    Economic Quarterly, 2005, 91, (Fall), 57-83 Downloads View citations (21)
  3. Unemployment and vacancy fluctuations in the matching model: inspecting the mechanism
    Economic Quarterly, 2005, 91, (Sum), 19-50 Downloads View citations (75)

2004

  1. (Un)balanced growth
    Economic Quarterly, 2004, 90, (Fall), 25-45 Downloads

2003

  1. Implications of the capital-embodiment revolution for directed R&D and wage inequality
    Economic Quarterly, 2003, 89, (Fall), 25-50 Downloads View citations (8)
  2. Should a monetary policymaker look at money?
    Journal of Monetary Economics, 2003, 50, (3), 547-579 Downloads View citations (22)

2002

  1. 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 Downloads View citations (13)
    See also Working Paper (2001)
    Working Paper (2002)
  2. Towards a theory of capacity utilization: shiftwork and the workweek of capital
    Economic Quarterly, 2002, (Spr), 65-86 Downloads View citations (2)
  3. Vintage capital as an origin of inequalities
    Proceedings, 2002, (Nov) Downloads View citations (3)
    See also Working Paper (2002)

2001

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

2000

  1. (S, s) Inventory Policies in General Equilibrium
    Review of Economic Studies, 2000, 67, (1), 117-145 Downloads View citations (27)
    See also Working Paper (1998)
  2. The IT revolution: is it evident in the productivity numbers?
    Economic Quarterly, 2000, (Fall), 49-78 Downloads View citations (4)
  3. The business cycle and industry comovement
    Economic Quarterly, 2000, (Win), 27-48 Downloads View citations (20)
  4. What is the Real Story for Interest Rate Volatility?
    German Economic Review, 2000, 1, (1), 43-67 Downloads View citations (2)
    See also Working Paper (1999)

1999

  1. Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?
    Canadian Journal of Economics, 1999, 32, (4), 878-905 Downloads View citations (1)
    See also Working Paper (1998)
  2. Growth accounting with technological revolutions
    Economic Quarterly, 1999, (Sum), 1-22 Downloads View citations (12)

1998

  1. Inventory investment and the business cycle
    Economic Quarterly, 1998, (Spr), 49-71 Downloads View citations (25)

1997

  1. Intermediate inputs and sectoral comovement in the business cycle
    Journal of Monetary Economics, 1997, 40, (3), 573-595 Downloads View citations (85)
    See also Working Paper (1997)

1993

  1. Money and Insurance in a Turnpike Environment
    Economic Theory, 1993, 3, (1), 19-34 View citations (9)
  2. Monopolistic competition, increasing returns to scale, and the importance of productivity shocks
    Journal of Monetary Economics, 1993, 31, (3), 299-316 Downloads View citations (82)

1991

  1. Insurance Contracts as Commodities: A Note
    Review of Economic Studies, 1991, 58, (5), 917-928 Downloads View citations (6)
  2. Measures of the Insurance Sector Output
    The Geneva Papers on Risk and Insurance - Issues and Practice, 1991, 16, (2), 191-206 Downloads View citations (3)

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 Downloads View citations (47)
    See also Working Paper (2005)

1996

  1. Can Technology Improvements Cause Productivity Slowdowns?
    A chapter in NBER Macroeconomics Annual 1996, Volume 11, 1996, pp 209-276 Downloads View citations (118)
 
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