Details about Lee Edward Ohanian

E-mail:
Homepage:	http://www.leeohanian.com
Phone:	310 825 0979
Postal address:	department of economics ucla 405 hilgard ave. la, ca 90024
Workplace:	Department of Economics, University of California-Los Angeles (UCLA), (more information at EDIRC)

Access statistics for papers by Lee Edward Ohanian.

Last updated 2021-06-13. Update your information in the RePEc Author Service.

Short-id: poh1

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Working Papers

2023

1. The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability: A General Equilibrium Analysis
   Working Papers, Federal Reserve Bank of St. Louis

2021

2. Revisiting Capital-Skill Complementarity, Inequality, and Labor Share
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
   Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2021) View citations (8)

2020

3. Dynamic General Equilibrium Modeling of Long and Short-Run Historical Events
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2019

4. Bretton Woods and the Reconstruction of Europe
   2019 Meeting Papers, Society for Economic Dynamics
   Also in Working Papers, Federal Reserve Bank of St. Louis (2019)

2018

5. Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
   Staff Report, Federal Reserve Bank of Minneapolis View citations (14)
   Also in 2017 Meeting Papers, Society for Economic Dynamics (2017)
   Working Paper Series, Federal Reserve Bank of Chicago (2015) View citations (1)
   NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (17)
   See also Journal Article in American Economic Review (2018)
6. Online Appendix to "The Impact of Foreclosure Delay on U.S. Employment"
   Online Appendices, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2019)
7. The Lack of European Productivity Growth: Causes and Lessons for the U.S
   PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania View citations (4)

2017

8. Tarnishing the Golden and Empire States: Land-Use Restrictions and the U.S. Economic Slowdown
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
   See also Journal Article in Journal of Monetary Economics (2018)
9. Who Defaults on Their Mortgage, and Why? Policy Implications for Reducing Mortgage Default
   Economic Policy Paper, Federal Reserve Bank of Minneapolis

2016

10. Foreclosure Delay and the U.S. Labor Market
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (1)
11. Neoclassical Models in Macroeconomics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
    See also Chapter (2016)
12. The Great Recession in the Shadow of the Great Depression: A Review Essay on “Hall of Mirrors: The Great Depression, The Great Recession and the Uses and Misuses Of History”
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2015

13. Bad Investments and Missed Opportunities? Capital Flows to Asia and Latin America, 1950-2007
    2015 Meeting Papers, Society for Economic Dynamics View citations (6)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2013) View citations (10)
14. Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2013) View citations (60)
    Working Papers, Federal Reserve Bank of Boston (2015) View citations (16)
    See also Journal Article in Review of Financial Studies (2018)
15. The Impact of Foreclosure Delay on U.S. Employment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    See also Journal Article in Review of Economic Dynamics (2019)

2014

16. Competition and the Decline of the Rust Belt
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (1)
17. Competitive Pressure and the Decline of the Rust Belt: A Macroeconomic Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
18. Firing Costs and Labor Market Fluctuations: A Cross-Country Analysis
    2014 Meeting Papers, Society for Economic Dynamics View citations (16)
19. Pay with Promises or Pay as You Go? Lessons from the Death Spiral of Detroit
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
20. Paychecks or Promises? Lessons from the Death Spiral of Detroit
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (1)

2013

21. Dynamic Sorting
    2013 Meeting Papers, Society for Economic Dynamics View citations (3)
22. The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

2012

23. Bad Investments and Missed Opportunities? Capital Flows to Asia and Latin America, 1950-2004
    2012 Meeting Papers, Society for Economic Dynamics View citations (1)
24. Foreclosure delay and U.S. unemployment
    Working Papers, Federal Reserve Bank of St. Louis View citations (26)
25. The Decline of the U.S. Rust Belt: A Macroeconomic Analysis
    2012 Meeting Papers, Society for Economic Dynamics View citations (19)

2011

26. Accounting for the Great Recession
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (2)
27. Aggregate Hours Worked in OECD Countries: New Measurement and Implications for Business Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2011) View citations (11)
    See also Journal Article in Journal of Monetary Economics (2012)
28. Hours Worked over the Business Cycle: Evidence from OECD Countries, 1960-2009
    2011 Meeting Papers, Society for Economic Dynamics View citations (1)
29. Labor Market Dysfunction During the Great Recession
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)

2010

30. The General Theory of Employment, Interest, and Money After 75 Years: The Importance of Being in the Right Place at the Right Time
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Chapter (2012)
31. The Spanish Crisis from a Global Perspective
    Working Papers, FEDEA View citations (15)

2009

32. 50 Years of Capital Flows
    2009 Meeting Papers, Society for Economic Dynamics
33. Bad Investments and Missed Opportunities: Capital Flows to Latin America and Asia, 1950-2004
    2009 Meeting Papers, Society for Economic Dynamics View citations (1)
34. What - or Who - Started the Great Depression?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)
    See also Journal Article in Journal of Economic Theory (2009)

2008

35. Does neoclassical theory account for the effects of big fiscal shocks? Evidence from World War II
    Staff Report, Federal Reserve Bank of Minneapolis View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (8)
    See also Journal Article in International Economic Review (2010)

2007

36. The Efficiency and Mobility of International Capital Flows: 1950-2006
    2007 Meeting Papers, Society for Economic Dynamics

2006

37. Long-Term Changes in Labor Supply and Taxes: Evidence from OECD Countries, 1956-2004
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2006) View citations (23)
    See also Journal Article in Journal of Monetary Economics (2008)
38. Why Have Business Cycle Fluctuations Become Less Volatile?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in 2005 Meeting Papers, Society for Economic Dynamics (2005)
    See also Journal Article in Economic Theory (2007)

2005

39. Deflation and the International Great Depression: A Productivity Puzzle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2005) View citations (27)

2004

40. Deflation, Real Wages, and the International Great Depression: A Productivity Puzzle
    Econometric Society 2004 North American Winter Meetings, Econometric Society View citations (9)
41. Latin America in the Rearview Mirror
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2004) View citations (24)
    See also Journal Article in Quarterly Review (2006)
42. Notes on Bootstrapping in Linear Models with i.i.d. Disturbances
    UCLA Economics Online Papers, UCLA Department of Economics
43. Trends and Fluctuations in the Household's Marginal Rate of Substitution Condition: Time Series Evidence from the OECD
    2004 Meeting Papers, Society for Economic Dynamics

2002

44. Data Appendix to The Great U.K. Depression: A Puzzle and Possible Resolution
    Online Appendices, Review of Economic Dynamics View citations (5)
    See also Journal Article in Review of Economic Dynamics (2002)
45. Neoclassical Studies of Great Depressions: Puzzles and Progress
    Annual Meeting Plenary, Society for Economic Dynamics

2001

46. New Deal policies and the persistence of the Great Depression: a general equilibrium analysis
    Working Papers, Federal Reserve Bank of Minneapolis View citations (43)
    See also Journal Article in Journal of Political Economy (2004)
47. The great U.K. depression: a puzzle and possible resolution
    Staff Report, Federal Reserve Bank of Minneapolis View citations (11)
    See also Journal Article in Review of Economic Dynamics (2002)
48. Trend-reverting fluctuations in the life-cycle model
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
    See also Journal Article in Journal of Economic Theory (2004)
49. Why did productivity fall so much during the Great Depression?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (61)
    See also Journal Article in Quarterly Review (2002)

2000

50. Re-examining the contributions of money and banking shocks to the U.S. Great Depression
    Staff Report, Federal Reserve Bank of Minneapolis View citations (38)
    See also Chapter (2001)

1999

51. The macroeconomic effects of big fiscal shocks: the case of World War II
    Working Papers, Federal Reserve Bank of Minneapolis View citations (8)
52. Unit Roots, Trend Breaks and Transitory Dynamics: A Macroeconomic Perspective
    Working Papers, Michigan - Center for Research on Economic & Social Theory View citations (3)
    See also Journal Article in Macroeconomic Dynamics (2002)

1998

53. Complex eigenvalues and trend-reverting fluctuations
    Staff Report, Federal Reserve Bank of Minneapolis View citations (8)
54. Dynamic equilibrium economies: a framework for comparing models and data
    Staff Report, Federal Reserve Bank of Minneapolis View citations (98)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (16)
    Working Papers, Federal Reserve Bank of Philadelphia (1997) View citations (5)
    NBER Technical Working Papers, National Bureau of Economic Research, Inc (1995) View citations (14)
    See also Journal Article in Review of Economic Studies (1998)
55. Is there a trend break in U.S. GNP? A macroeconomic perspective
    Staff Report, Federal Reserve Bank of Minneapolis View citations (9)
56. The defining moment: a review essay
    Staff Report, Federal Reserve Bank of Minneapolis
    See also Journal Article in Journal of Political Economy (1999)
57. The demand for money and the nonneutrality of money
    Staff Report, Federal Reserve Bank of Minneapolis View citations (2)

1997

58. Capital-skill complementarity and inequality: a macroeconomic analysis
    Staff Report, Federal Reserve Bank of Minneapolis View citations (191)
    See also Journal Article in Econometrica (2000)
59. Shrinking money and monetary business cycles
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)

1996

60. Reassessing aggregate returns to scale with standard theory and measurement
    Working Papers, Federal Reserve Bank of Minneapolis View citations (1)

1993

61. Short-Run Independence of Monetary Policy Under Pegged Exchange Rates and Effects of Money on Exchange Rates and Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    See also Journal Article in Journal of Money, Credit and Banking (1997)

1989

62. 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)

Journal Articles

2019

1. The Impact of Foreclosure Delay on U.S. Employment
   Review of Economic Dynamics, 2019, 31, 63-83 View citations (2)
   See also Working Paper (2018)
   Working Paper (2015)
   Software Item (2018)

2018

2. Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
   American Economic Review, 2018, 108, (12), 3541-82 View citations (14)
   See also Working Paper (2018)
3. Can’t Pay or Won’t Pay? Unemployment, Negative Equity, and Strategic Default
   Review of Financial Studies, 2018, 31, (3), 1098-1131 View citations (21)
   See also Working Paper (2015)
4. Tarnishing the golden and empire states: Land-use restrictions and the U.S. economic slowdown
   Journal of Monetary Economics, 2018, 93, (C), 89-109 View citations (36)
   See also Working Paper (2017)

2017

5. The Great Recession in the Shadow of the Great Depression: A Review Essay on Hall of Mirrors: The Great Depression, the Great Recession, and the Uses and Misuses of History, by Barry Eichengreen
   Journal of Economic Literature, 2017, 55, (4), 1583-1601 View citations (3)

2016

6. The Direction of Capital Flows
   Economic Synopses, 2016, (22), 1-2

2014

7. The impact of monetary policy in the midst of big shocks
   Journal of Economic Dynamics and Control, 2014, 49, (C), 35-48 View citations (3)

2012

8. Aggregate hours worked in OECD countries: New measurement and implications for business cycles
   Journal of Monetary Economics, 2012, 59, (1), 40-56 View citations (169)
   See also Working Paper (2011)

2011

9. Discussion of goodfriend
   Journal of Monetary Economics, 2011, 58, (1), 13-16

2010

10. Capital Flows and Macroeconomic Performance: Lessons from the Golden Era of International Finance
    American Economic Review, 2010, 100, (2), 68-72 View citations (11)
11. DOES NEOCLASSICAL THEORY ACCOUNT FOR THE EFFECTS OF BIG FISCAL SHOCKS? EVIDENCE FROM WORLD WAR II
    International Economic Review, 2010, 51, (2), 509-532 View citations (29)
    See also Working Paper (2008)
12. The Economic Crisis from a Neoclassical Perspective
    Journal of Economic Perspectives, 2010, 24, (4), 45-66 View citations (96)
13. Understanding Economic Crises: The Great Depression and the 2008 Recession
    The Economic Record, 2010, 86, (s1), 2-6 View citations (2)

2009

14. Introduction to dynamic general equilibrium
    Journal of Economic Theory, 2009, 144, (6), 2235-2246 View citations (5)
15. What - or who - started the great depression?
    Journal of Economic Theory, 2009, 144, (6), 2310-2335 View citations (51)
    See also Working Paper (2009)

2008

16. Back to the future with Keynes
    Quarterly Review, 2008, (Jul), 10-16 View citations (7)
17. Long-term changes in labor supply and taxes: Evidence from OECD countries, 1956-2004
    Journal of Monetary Economics, 2008, 55, (8), 1353-1362 View citations (225)
    See also Working Paper (2006)

2007

18. Commentary on \\"Model fit and model selection\\"
    Review, 2007, 89, (Jul), 361-370
19. Why have business cycle fluctuations become less volatile?
    Economic Theory, 2007, 32, (1), 43-58 View citations (62)
    See also Working Paper (2006)
20. Work and taxes: allocation of time in OECD countries
    Economic Review, 2007, 92, (Q III), 37-58 View citations (6)

2006

21. Latin America in the rearview mirror
    Quarterly Review, 2006, 30, (Sep) View citations (23)
    Also in Journal of Monetary Economics, 2005, 52, (1), 69-107 (2005) View citations (58)
    See also Working Paper (2004)

2005

22. Monetary policy and learning
    Review of Economic Dynamics, 2005, 8, (2), 257-261

2004

23. New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis
    Journal of Political Economy, 2004, 112, (4), 779-816 View citations (321)
    See also Working Paper (2001)
24. Trend-reverting fluctuations in the life-cycle model
    Journal of Economic Theory, 2004, 119, (2), 334-356 View citations (23)
    See also Working Paper (2001)

2002

25. Shrinking money: the demand for money and the nonneutrality of money
    Journal of Monetary Economics, 2002, 49, (4), 653-686 View citations (11)
26. The Great U.K. Depression: A Puzzle and Possible Resolution
    Review of Economic Dynamics, 2002, 5, (1), 19-44 View citations (43)
    See also Working Paper (2001)
    Working Paper (2002)
27. The U.S. and U.K. Great Depressions Through the Lens of Neoclassical Growth Theory
    American Economic Review, 2002, 92, (2), 28-32 View citations (32)
28. UNIT ROOTS, TREND BREAKS, AND TRANSITORY DYNAMICS: A MACROECONOMIC PERSPECTIVE
    Macroeconomic Dynamics, 2002, 6, (5), 614-632 View citations (19)
    See also Working Paper (1999)
29. Why did productivity fall so much during the Great Depression?
    Quarterly Review, 2002, 26, (Spr) View citations (10)
    Also in American Economic Review, 2001, 91, (2), 34-38 (2001) View citations (67)
    See also Working Paper (2001)

2001

30. Are Phillips curves useful for forecasting inflation?
    Quarterly Review, 2001, 25, (Win), 2-11 View citations (575)

2000

31. Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis
    Econometrica, 2000, 68, (5), 1029-1054 View citations (942)
    See also Working Paper (1997)
32. EconomicDynamics Interviews Lee Ohanian on the Great Depression
    EconomicDynamics Newsletter, 2000, 1, (2) View citations (1)

1999

33. Aggregate returns to scale: why measurement is imprecise
    Quarterly Review, 1999, 23, (Sum), 19-28 View citations (14)
34. The Defining Moment: A Review Essay
    Journal of Political Economy, 1999, 107, (1), 178-185
    See also Working Paper (1998)
35. The Great Depression in the United States from a neoclassical perspective
    Quarterly Review, 1999, 23, (Win), 2-24 View citations (186)

1998

36. Dynamic Equilibrium Economies: A Framework for Comparing Models and Data
    Review of Economic Studies, 1998, 65, (3), 433-451 View citations (103)
    See also Working Paper (1998)

1997

37. How capital taxes harm economic growth: Britain versus the United States
    Business Review, 1997, (Jul), 17-27
38. Postwar British Economic Growth and the Legacy of Keynes
    Journal of Political Economy, 1997, 105, (3), 439-72 View citations (52)
39. Short-Run Independence of Monetary Policy under Pegged Exchange Rates and Effects of Money on Exchange Rates and Interest Rates
    Journal of Money, Credit and Banking, 1997, 29, (4), 783-806 View citations (9)
    Also in Proceedings, 1997, 783-814 (1997) View citations (16)
    See also Working Paper (1993)
40. The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War
    American Economic Review, 1997, 87, (1), 23-40 View citations (122)

1996

41. Are data on industry evolution and gross job turnover relevant for macroeconomics?
    Carnegie-Rochester Conference Series on Public Policy, 1996, 44, (1), 215-239 View citations (60)
42. When the bubble bursts: psychology or fundamentals?
    Business Review, 1996, (Jan), 3-13 View citations (1)

1995

43. The Effects of Real and Monetary Shocks in a Business Cycle Model with Some Sticky Prices
    Journal of Money, Credit and Banking, 1995, 27, (4), 1209-34 View citations (56)
    Also in Proceedings, 1994, 1209-1240 (1994) View citations (8)
44. Theoretical issues of liquidity effects
    Review, 1995, (May), 3-25 View citations (10)
    Also in Proceedings, 1995, (May), 3-25 (1995) View citations (8)

1994

45. Short-run effects on money when some prices are sticky
    Economic Quarterly, 1994, (Sum), 1-24 View citations (19)

1993

46. The impact of stochastic and deterministic trends on money-output causality: A multi-country investigation (Vol. 45, No. 3 (1990) pp. 291-308)
    Journal of Econometrics, 1993, 58, (3), 405-405 View citations (1)

1991

47. A Note on Spurious Inference in a Linearly Detrended Vector Autoregression
    The Review of Economics and Statistics, 1991, 73, (3), 568-71
48. The cyclical behavior of prices
    Journal of Monetary Economics, 1991, 28, (1), 25-60 View citations (120)
    See also Working Paper (1989)

1990

49. The impact of stochastic and deterministic trends on money-output causality: A multi-country investigation
    Journal of Econometrics, 1990, 45, (3), 291-308 View citations (19)

1988

50. The spurious effects of unit roots on vector autoregressions: A Monte Carlo study
    Journal of Econometrics, 1988, 39, (3), 251-266 View citations (34)

Edited books

2012

1. Government Policies and the Delayed Economic Recovery
   Books, Hoover Institution, Stanford University View citations (69)

Chapters

2018

1. The Natural Rate
   Chapter 2 in Bankruptcy Not Bailout, 2018 View citations (1)

2016

2. Neoclassical Models in Macroeconomics
   Elsevier View citations (10)
   See also Working Paper (2016)

2015

3. Conclusions and Solutions
   Chapter 7 in Inequality & Economic Policy, 2015

2012

4. Introduction - Government Policies and the Delayed Economic Recovery
   A chapter in Government Policies and the Delayed Economic Recovery, 2012 View citations (6)
5. The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time
   Chapter 7 in Keynes’s General Theory, 2012
   See also Working Paper (2010)
6. Why the U.S. Economy Has Failed to Recover and What Policies Will Promote Growth
   Chapter 7 in Government Policies and the Delayed Economic Recovery, 2012 View citations (4)

2011

7. Comment on "What Fiscal Policy is Effective at Zero Interest Rates?"
   A chapter in NBER Macroeconomics Annual 2010, volume 25, 2011, pp 125-137 View citations (2)

2001

8. Re-Examining the Contributions of Money and Banking Shocks to the US Great Depression
   A chapter in NBER Macroeconomics Annual 2000, Volume 15, 2001, pp 183-260 View citations (10)
   See also Working Paper (2000)

Software Items

2018

1. Code and data files for "The Impact of Foreclosure Delay on U.S. Employment"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2019)