Details about Lee Edward Ohanian
Access statistics for papers by Lee Edward Ohanian.
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Short-id: poh1
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Working Papers
2023
- 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
- 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
- Dynamic General Equilibrium Modeling of Long and Short-Run Historical Events
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
2019
- 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
- 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)
- 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)
- 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
- 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)
- Who Defaults on Their Mortgage, and Why? Policy Implications for Reducing Mortgage Default
Economic Policy Paper, Federal Reserve Bank of Minneapolis
2016
- Foreclosure Delay and the U.S. Labor Market
Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (1)
- Neoclassical Models in Macroeconomics
NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
See also Chapter (2016)
- 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
- 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)
- 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)
- 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
- Competition and the Decline of the Rust Belt
Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (1)
- Competitive Pressure and the Decline of the Rust Belt: A Macroeconomic Analysis
NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
- Firing Costs and Labor Market Fluctuations: A Cross-Country Analysis
2014 Meeting Papers, Society for Economic Dynamics View citations (16)
- 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)
- Paychecks or Promises? Lessons from the Death Spiral of Detroit
Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (1)
2013
- Dynamic Sorting
2013 Meeting Papers, Society for Economic Dynamics View citations (3)
- 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
- Bad Investments and Missed Opportunities? Capital Flows to Asia and Latin America, 1950-2004
2012 Meeting Papers, Society for Economic Dynamics View citations (1)
- Foreclosure delay and U.S. unemployment
Working Papers, Federal Reserve Bank of St. Louis View citations (26)
- The Decline of the U.S. Rust Belt: A Macroeconomic Analysis
2012 Meeting Papers, Society for Economic Dynamics View citations (19)
2011
- Accounting for the Great Recession
Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (2)
- 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)
- Hours Worked over the Business Cycle: Evidence from OECD Countries, 1960-2009
2011 Meeting Papers, Society for Economic Dynamics View citations (1)
- Labor Market Dysfunction During the Great Recession
NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
2010
- 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)
- The Spanish Crisis from a Global Perspective
Working Papers, FEDEA View citations (15)
2009
- 50 Years of Capital Flows
2009 Meeting Papers, Society for Economic Dynamics
- Bad Investments and Missed Opportunities: Capital Flows to Latin America and Asia, 1950-2004
2009 Meeting Papers, Society for Economic Dynamics View citations (1)
- 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
- 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
- The Efficiency and Mobility of International Capital Flows: 1950-2006
2007 Meeting Papers, Society for Economic Dynamics
2006
- 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)
- 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
- 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
- Deflation, Real Wages, and the International Great Depression: A Productivity Puzzle
Econometric Society 2004 North American Winter Meetings, Econometric Society View citations (9)
- 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)
- Notes on Bootstrapping in Linear Models with i.i.d. Disturbances
UCLA Economics Online Papers, UCLA Department of Economics
- 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
- 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)
- Neoclassical Studies of Great Depressions: Puzzles and Progress
Annual Meeting Plenary, Society for Economic Dynamics
2001
- 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)
- 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)
- 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)
- 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
- 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
- The macroeconomic effects of big fiscal shocks: the case of World War II
Working Papers, Federal Reserve Bank of Minneapolis View citations (8)
- 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
- Complex eigenvalues and trend-reverting fluctuations
Staff Report, Federal Reserve Bank of Minneapolis View citations (8)
- 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)
- Is there a trend break in U.S. GNP? A macroeconomic perspective
Staff Report, Federal Reserve Bank of Minneapolis View citations (9)
- The defining moment: a review essay
Staff Report, Federal Reserve Bank of Minneapolis 
See also Journal Article in Journal of Political Economy (1999)
- The demand for money and the nonneutrality of money
Staff Report, Federal Reserve Bank of Minneapolis View citations (2)
1997
- 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)
- Shrinking money and monetary business cycles
Working Papers, Federal Reserve Bank of Minneapolis View citations (2)
1996
- Reassessing aggregate returns to scale with standard theory and measurement
Working Papers, Federal Reserve Bank of Minneapolis View citations (1)
1993
- 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
- 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
- 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
- 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)
- 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)
- 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
- 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
- The Direction of Capital Flows
Economic Synopses, 2016, (22), 1-2
2014
- 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
- 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
- Discussion of goodfriend
Journal of Monetary Economics, 2011, 58, (1), 13-16
2010
- Capital Flows and Macroeconomic Performance: Lessons from the Golden Era of International Finance
American Economic Review, 2010, 100, (2), 68-72 View citations (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)
- The Economic Crisis from a Neoclassical Perspective
Journal of Economic Perspectives, 2010, 24, (4), 45-66 View citations (96)
- Understanding Economic Crises: The Great Depression and the 2008 Recession
The Economic Record, 2010, 86, (s1), 2-6 View citations (2)
2009
- Introduction to dynamic general equilibrium
Journal of Economic Theory, 2009, 144, (6), 2235-2246 View citations (5)
- 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
- Back to the future with Keynes
Quarterly Review, 2008, (Jul), 10-16 View citations (7)
- 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
- Commentary on \\"Model fit and model selection\\"
Review, 2007, 89, (Jul), 361-370
- Why have business cycle fluctuations become less volatile?
Economic Theory, 2007, 32, (1), 43-58 View citations (62)
See also Working Paper (2006)
- Work and taxes: allocation of time in OECD countries
Economic Review, 2007, 92, (Q III), 37-58 View citations (6)
2006
- 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
- Monetary policy and learning
Review of Economic Dynamics, 2005, 8, (2), 257-261
2004
- 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)
- 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
- Shrinking money: the demand for money and the nonneutrality of money
Journal of Monetary Economics, 2002, 49, (4), 653-686 View citations (11)
- 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)
- 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)
- 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)
- 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
- Are Phillips curves useful for forecasting inflation?
Quarterly Review, 2001, 25, (Win), 2-11 View citations (575)
2000
- Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis
Econometrica, 2000, 68, (5), 1029-1054 View citations (942)
See also Working Paper (1997)
- EconomicDynamics Interviews Lee Ohanian on the Great Depression
EconomicDynamics Newsletter, 2000, 1, (2) View citations (1)
1999
- Aggregate returns to scale: why measurement is imprecise
Quarterly Review, 1999, 23, (Sum), 19-28 View citations (14)
- The Defining Moment: A Review Essay
Journal of Political Economy, 1999, 107, (1), 178-185 
See also Working Paper (1998)
- The Great Depression in the United States from a neoclassical perspective
Quarterly Review, 1999, 23, (Win), 2-24 View citations (186)
1998
- 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
- How capital taxes harm economic growth: Britain versus the United States
Business Review, 1997, (Jul), 17-27
- Postwar British Economic Growth and the Legacy of Keynes
Journal of Political Economy, 1997, 105, (3), 439-72 View citations (52)
- 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)
- 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
- 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)
- When the bubble bursts: psychology or fundamentals?
Business Review, 1996, (Jan), 3-13 View citations (1)
1995
- 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)
- 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
- Short-run effects on money when some prices are sticky
Economic Quarterly, 1994, (Sum), 1-24 View citations (19)
1993
- 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
- A Note on Spurious Inference in a Linearly Detrended Vector Autoregression
The Review of Economics and Statistics, 1991, 73, (3), 568-71
- The cyclical behavior of prices
Journal of Monetary Economics, 1991, 28, (1), 25-60 View citations (120)
See also Working Paper (1989)
1990
- 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
- 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
- Government Policies and the Delayed Economic Recovery
Books, Hoover Institution, Stanford University View citations (69)
Chapters
2018
- The Natural Rate
Chapter 2 in Bankruptcy Not Bailout, 2018 View citations (1)
2016
- Neoclassical Models in Macroeconomics
Elsevier View citations (10)
See also Working Paper (2016)
2015
- Conclusions and Solutions
Chapter 7 in Inequality & Economic Policy, 2015
2012
- Introduction - Government Policies and the Delayed Economic Recovery
A chapter in Government Policies and the Delayed Economic Recovery, 2012 View citations (6)
- 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)
- 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
- 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
- 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
- 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)
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