Details about John Leahy

Workplace:

Gerald R. Ford School of Public Policy, University of Michigan, (more information at EDIRC) Economics Department, University of Michigan, (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC)

Access statistics for papers by John Leahy.

Last updated 2024-10-08. Update your information in the RePEc Author Service.

Short-id: ple189

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Working Papers

2022

1. A North-South Model of Structural Change and Growth
   Working Papers, Research Seminar in International Economics, University of Michigan
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2022)
   See also Journal Article A north-south model of structural change and growth, Journal of Monetary Economics, Elsevier (2023) View citations (1) (2023)

2019

2. Demographic Effects on the Impact of Monetary Policy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
3. Wishful Thinking
   NBER Working Papers, National Bureau of Economic Research, Inc

2018

4. Rational Inattention, Competitive Supply, and Psychometrics
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
   See also Journal Article Rational Inattention, Competitive Supply, and Psychometrics*, The Quarterly Journal of Economics, President and Fellows of Harvard College (2020) View citations (7) (2020)

2017

5. Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)
   See also Journal Article Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy, Journal of Political Economy, University of Chicago Press (2022) View citations (38) (2022)

2015

6. Social Learning and Selective Attention
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

2010

7. A Graph Theoretic Approach to Markets for Indivisible Goods
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
   See also Journal Article A graph theoretic approach to markets for indivisible goods, Journal of Mathematical Economics, Elsevier (2014) View citations (8) (2014)
8. Comparative Statics in Markets for Indivisible Goods
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
   See also Journal Article Comparative statics in markets for indivisible goods, Journal of Mathematical Economics, Elsevier (2020) View citations (1) (2020)
9. Reassessing FHA Risk
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)

2009

10. Matching Micro and Macro Facts in a Model of State-Dependent Pricing
    2009 Meeting Papers, Society for Economic Dynamics

2008

11. Trading Frictions and House Price Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article Trading Frictions and House Price Dynamics, Journal of Money, Credit and Banking, Blackwell Publishing (2011) View citations (22) (2011)

2006

12. A Phillips Curve with an Ss Foundation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (36)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2006) View citations (30)
    See also Journal Article A Phillips Curve with an Ss Foundation, Journal of Political Economy, University of Chicago Press (2008) View citations (286) (2008)

2004

13. Measuring Self-Control
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
14. State-Dependent Pricing and the New Keynesian Phillips Curve
    2004 Meeting Papers, Society for Economic Dynamics
15. The Absent-Minded Consumer
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)
    Also in 2004 Meeting Papers, Society for Economic Dynamics (2004) View citations (8)

2002

16. Retirement Consumption: Insights from a Survey
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
    See also Journal Article Retirement Consumption: Insights from a Survey, The Review of Economics and Statistics, MIT Press (2007) View citations (41) (2007)
17. Wealth Accumulation and the Propensity to Plan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (32)
    See also Journal Article Wealth Accumulation and the Propensity to Plan, The Quarterly Journal of Economics, President and Fellows of Harvard College (2003) View citations (284) (2003)

2001

18. The social discount rate
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (22)
    See also Journal Article The Social Discount Rate, Journal of Political Economy, University of Chicago Press (2004) View citations (82) (2004)

2000

19. An sS Model with Adverse Selection
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article An sS Model with Adverse Selection, Journal of Political Economy, University of Chicago Press (2004) View citations (21) (2004)
20. The Timing of Purchases and Aggregate Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    See also Journal Article The Timing of Purchases and Aggregate Fluctuations, The Review of Economic Studies, Review of Economic Studies Ltd (2005) View citations (22) (2005)

1999

21. Durable Goods Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

1997

22. Psychological Expected Utility Theory and Anticipatory Feelings
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (1)
    See also Journal Article Psychological Expected Utility Theory and Anticipatory Feelings, The Quarterly Journal of Economics, President and Fellows of Harvard College (2001) View citations (456) (2001)

1996

23. Fixed Costs: The Demise of Marginal q
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (72)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (78)
24. The International Transmission of Monetary Policy: Evidence from the United States and Canada
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research

1995

25. The Effect of Uncertainty on Investment: Some Stylized Facts
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)
    See also Journal Article The Effect of Uncertainty on Investment: Some Stylized Facts, Journal of Money, Credit and Banking, Blackwell Publishing (1996) View citations (438) (1996)

1994

26. Mass Layoffs and Unemployment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (1993)
    See also Journal Article Mass layoffs and unemployment, Journal of Monetary Economics, Elsevier (2000) View citations (3) (2000)
27. The Economics of Adjustment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (1993)

1993

28. Miracle on Sixth Avenue: Information Externalities and Search
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (2)
    See also Journal Article Miracle on Sixth Avenue: Information Externalities and Search, Economic Journal, Royal Economic Society (1998) View citations (61) (1998)
29. Some Empirical Evidence on the Relationship Between Investment and Uncertainty
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research
30. The Connection Between Optimal Stopping Problems and Optimal Control Problems in Discrete Time
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research

1992

31. Aggregation and Optimization with State-Dependent Pricing
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (17)
    See also Journal Article Aggregation and Optimization with State-Dependent Pricing, Econometrica, Econometric Society (1997) View citations (105) (1997)
32. Business as Usual, Market Crashes, and Wisdom after the Fact
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (22)
    See also Journal Article Business as Usual, Market Crashes, and Wisdom after the Fact, American Economic Review, American Economic Association (1994) View citations (132) (1994)
33. Statistical Properties of Regulated Brownian Motion
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research

1991

34. Asymetric Information, Adjustment Costs and Market Dynamics
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (1)
35. The Optimality of Myopic Behaviour in a Competitive Model of Entry and Exit
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (6)

Journal Articles

2023

1. A north-south model of structural change and growth
   Journal of Monetary Economics, 2023, 133, (C), 77-102 View citations (1)
   See also Working Paper A North-South Model of Structural Change and Growth, Working Papers (2022) (2022)

2022

2. Age Structure and the Impact of Monetary Policy
   American Economic Journal: Macroeconomics, 2022, 14, (4), 136-73 View citations (7)
3. Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy
   Journal of Political Economy, 2022, 130, (6), 1676 - 1715 View citations (38)
   See also Working Paper Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy, NBER Working Papers (2017) View citations (52) (2017)

2020

4. Comparative statics in markets for indivisible goods
   Journal of Mathematical Economics, 2020, 90, (C), 80-94 View citations (1)
   See also Working Paper Comparative Statics in Markets for Indivisible Goods, NBER Working Papers (2010) View citations (2) (2010)
5. Rational Inattention, Competitive Supply, and Psychometrics*
   The Quarterly Journal of Economics, 2020, 135, (3), 1681-1724 View citations (7)
   See also Working Paper Rational Inattention, Competitive Supply, and Psychometrics, NBER Working Papers (2018) View citations (7) (2018)

2019

6. Rational Inattention, Optimal Consideration Sets, and Stochastic Choice
   The Review of Economic Studies, 2019, 86, (3), 1061-1094 View citations (74)

2017

7. Comment
   NBER Macroeconomics Annual, 2017, 31, (1), 458 - 464

2014

8. A graph theoretic approach to markets for indivisible goods
   Journal of Mathematical Economics, 2014, 52, (C), 112-122 View citations (8)
   See also Working Paper A Graph Theoretic Approach to Markets for Indivisible Goods, NBER Working Papers (2010) View citations (3) (2010)

2013

9. Like a Good Neighbor: The Importance of Non-Linearities and Expectations in the Recent Crisis
   International Journal of Central Banking, 2013, 9, (2), 287-293 View citations (1)
10. Report of the Editor: American Economic Journal: Macroeconomics
    American Economic Review, 2013, 103, (3), 727-31

2011

11. A Survey of New Keynesian Theories of Aggregate Supply and Their Relation to Industrial Organization
    Journal of Money, Credit and Banking, 2011, 43, 87-110 View citations (25)
    Also in Journal of Money, Credit and Banking, 2011, 43, (s1), 87-110 (2011) View citations (9)
12. Trading Frictions and House Price Dynamics
    Journal of Money, Credit and Banking, 2011, 43, (s2), 283-303 View citations (22)
    Also in Journal of Money, Credit and Banking, 2011, 43, 283-303 (2011) View citations (75)
    See also Working Paper Trading Frictions and House Price Dynamics, NBER Working Papers (2008) View citations (16) (2008)

2010

13. Economic Theory and the World of Practice: A Celebration of the ( S, s ) Model
    Journal of Economic Perspectives, 2010, 24, (1), 183-202 View citations (27)

2008

14. A Phillips Curve with an Ss Foundation
    Journal of Political Economy, 2008, 116, (3), 533-572 View citations (286)
    See also Working Paper A Phillips Curve with an Ss Foundation, NBER Working Papers (2006) View citations (36) (2006)

2007

15. Discussion of "Baby boomer retirement security" by Annamaria Lusardi and Olivia Mitchell
    Journal of Monetary Economics, 2007, 54, (1), 225-228 View citations (1)
16. Measuring Self-Control Problems
    American Economic Review, 2007, 97, (3), 966-972 View citations (147)
17. Retirement Consumption: Insights from a Survey
    The Review of Economics and Statistics, 2007, 89, (2), 265-274 View citations (41)
    See also Working Paper Retirement Consumption: Insights from a Survey, NBER Working Papers (2002) View citations (26) (2002)

2006

18. Equilibrium in a durable goods market with lumpy adjustment
    Journal of Economic Theory, 2006, 128, (1), 187-213 View citations (13)
19. The recursive approach to time inconsistency
    Journal of Economic Theory, 2006, 131, (1), 134-156 View citations (23)

2005

20. The Timing of Purchases and Aggregate Fluctuations
    The Review of Economic Studies, 2005, 72, (4), 1127-1151 View citations (22)
    See also Working Paper The Timing of Purchases and Aggregate Fluctuations, NBER Working Papers (2000) View citations (9) (2000)
21. The design of monetary and fiscal policy: a global perspective - comments
    Proceedings, 2005 View citations (3)

2004

22. An sS Model with Adverse Selection
    Journal of Political Economy, 2004, 112, (3), 581-614 View citations (21)
    See also Working Paper An sS Model with Adverse Selection, NBER Working Papers (2000) View citations (3) (2000)
23. The Social Discount Rate
    Journal of Political Economy, 2004, 112, (6), 1257-1268 View citations (82)
    See also Working Paper The social discount rate, Discussion Paper / Institute for Empirical Macroeconomics (2001) View citations (11) (2001)
24. The supply of information by a concerned expert
    Economic Journal, 2004, 114, (497), 487-505 View citations (78)

2003

25. Wealth Accumulation and the Propensity to Plan
    The Quarterly Journal of Economics, 2003, 118, (3), 1007-1047 View citations (284)
    See also Working Paper Wealth Accumulation and the Propensity to Plan, NBER Working Papers (2002) View citations (32) (2002)

2002

26. Monetary policy and asset prices
    Journal of Monetary Economics, 2002, 49, (1), 75-97 View citations (297)

2001

27. Monetary policy analysis in models without money (commentary)
    Review, 2001, 83, (Jul), 145-164 View citations (4)
28. Psychological Expected Utility Theory and Anticipatory Feelings
    The Quarterly Journal of Economics, 2001, 116, (1), 55-79 View citations (456)
    See also Working Paper Psychological Expected Utility Theory and Anticipatory Feelings, Working Papers (1997) View citations (1) (1997)

2000

29. Mass layoffs and unemployment
    Journal of Monetary Economics, 2000, 46, (1), 121-142 View citations (3)
    See also Working Paper Mass Layoffs and Unemployment, NBER Working Papers (1994) View citations (1) (1994)
30. Testing the (S, s) Model
    American Economic Review, 2000, 90, (2), 116-119 View citations (22)

1998

31. Miracle on Sixth Avenue: Information Externalities and Search
    Economic Journal, 1998, 108, (446), 60-74 View citations (61)
    See also Working Paper Miracle on Sixth Avenue: Information Externalities and Search, Harvard Institute of Economic Research Working Papers (1993) View citations (2) (1993)

1997

32. Aggregation and Optimization with State-Dependent Pricing
    Econometrica, 1997, 65, (3), 601-626 View citations (105)
    See also Working Paper Aggregation and Optimization with State-Dependent Pricing, Harvard Institute of Economic Research Working Papers (1992) View citations (17) (1992)
33. The Money Game
    New Economy, 1997, 4, (1), 26-29 View citations (2)

1996

34. Monetary Policy as a Process of Search
    American Economic Review, 1996, 86, (4), 689-702 View citations (51)
35. The Effect of Uncertainty on Investment: Some Stylized Facts
    Journal of Money, Credit and Banking, 1996, 28, (1), 64-83 View citations (438)
    See also Working Paper The Effect of Uncertainty on Investment: Some Stylized Facts, NBER Working Papers (1995) View citations (40) (1995)
36. Trading Costs, Price, and Volume in Asset Markets
    American Economic Review, 1996, 86, (2), 192-96 View citations (6)

1995

37. The Effects of Real and Monetary Shocks in a Business Cycle Model with Some Sticky Prices: Comment
    Journal of Money, Credit and Banking, 1995, 27, (4), 1237-40 View citations (6)

1994

38. Business as Usual, Market Crashes, and Wisdom after the Fact
    American Economic Review, 1994, 84, (3), 548-65 View citations (132)
    See also Working Paper Business as Usual, Market Crashes, and Wisdom after the Fact, Harvard Institute of Economic Research Working Papers (1992) View citations (22) (1992)

1993

39. Investment in Competitive Equilibrium: The Optimality of Myopic Behavior
    The Quarterly Journal of Economics, 1993, 108, (4), 1105-1133 View citations (175)
40. Sectoral Shocks, Learning, and Aggregate Fluctuations
    The Review of Economic Studies, 1993, 60, (4), 777-794 View citations (65)

1991

41. State-Dependent Pricing and the Dynamics of Money and Output
    The Quarterly Journal of Economics, 1991, 106, (3), 683-708 View citations (229)

Chapters

2025

1. Editorial in "NBER Macroeconomics Annual 2024, volume 39"
   A chapter in NBER Macroeconomics Annual 2024, volume 39, 2025
2. Editorial in "NBER Macroeconomics Annual 2025, volume 40"
   A chapter in NBER Macroeconomics Annual 2025, volume 40, 2025

2016

3. Comment on "Are State and Time Dependent Models Really Different?"
   A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016, pp 458-464 View citations (1)

2004

4. How Important Is Discrete Adjustment in Aggregate Fluctuations?
   A chapter in Growth and Productivity in East Asia, 2004, pp 351-376 View citations (1)