Details about Morten Ravn

Homepage:	https://sites.google.com/view/mortenoravn/home
Postal address:	Department of Economics, University College London, Drayton House, Gower Street, London WC1E 6BT, UK
Workplace:	Centre for Economic Policy Research (CEPR), (more information at EDIRC) Department of Economics, University College London (UCL), (more information at EDIRC)

Access statistics for papers by Morten Ravn.

Last updated 2023-08-19. Update your information in the RePEc Author Service.

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Working Papers

2021

1. Financial frictions: micro vs macro volatility
   Working Paper Series, European Central Bank
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (1)

2020

2. (S)Cars and the Great Recession
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (1)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (2)
   See also Journal Article in Econometrica (2022)
3. Sentimental Business Cycles
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
   See also Journal Article in Review of Economic Studies (2023)

2018

4. The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply to Jentsch and Lunsford
   Working Papers, Federal Reserve Bank of Dallas View citations (8)

2017

5. Macroeconomic Fluctuations with HANK & SAM: an Analytical Approach
   2017 Meeting Papers, Society for Economic Dynamics View citations (13)
   Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2016) View citations (25)
   Discussion Papers, Centre for Macroeconomics (CFM) (2016) View citations (50)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (45)
   See also Journal Article in Journal of the European Economic Association (2021)
6. The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
   Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2017) View citations (8)
   Discussion Papers, Centre for Macroeconomics (CFM) (2017) View citations (14)
   NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (11)
   See also Journal Article in The Quarterly Journal of Economics (2018)

2016

7. Time-Consistent Fiscal Policy in a Debt Crisis
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (10)
   Also in 2015 Meeting Papers, Society for Economic Dynamics (2015)
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2016) View citations (9)
   VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy, Verein für Socialpolitik / German Economic Association (2015)
   Discussion Papers, Centre for Macroeconomics (CFM) (2016) View citations (10)

2015

8. Job uncertainty and deep recessions
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (8)
   Also in 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (35)
   Discussion Papers, Centre for Macroeconomics (CFM) (2014) View citations (55)
   See also Journal Article in Journal of Monetary Economics (2017)

2012

9. A Reconciliation of SVAR and Narrative Estimates of Tax Multipliers
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (34)
   See also Journal Article in Journal of Monetary Economics (2014)
10. The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States
    2012 Meeting Papers, Society for Economic Dynamics View citations (10)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (8)
    See also Journal Article in American Economic Review (2013)

2011

11. A New Approach to the Estimation of Tax Multipliers
    2011 Meeting Papers, Society for Economic Dynamics
12. Credit Channels in a Liquidity Trap
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
    Also in 2011 Meeting Papers, Society for Economic Dynamics (2011) View citations (10)

2010

13. Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in Working Paper Research, National Bank of Belgium (2009) View citations (21)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (46)
    See also Journal Article in American Economic Journal: Economic Policy (2012)
    Chapter (2010)
14. Fiscal Policy in an Expectations Driven Liquidity Trap
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (102)
    See also Journal Article in Review of Economic Studies (2014)
15. One TV, One Price?
    PSE-Ecole d'économie de Paris (Postprint), HAL View citations (37)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (4)
    Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2010) View citations (36)
    Post-Print, HAL (2010) View citations (37)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009)
    See also Journal Article in Scandinavian Journal of Economics (2010)
16. Online Appendix to "Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks"
    Online Appendices, Review of Economic Dynamics View citations (1)
    See also Journal Article in Review of Economic Dynamics (2011)
17. Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (19)
    See also Chapter (2010)
    Journal Article in NBER International Seminar on Macroeconomics (2011)

2009

18. Deep Habits and the Dynamic Effects of Monetary Policy Shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in Economics Working Papers, European University Institute (2008) View citations (4)
    See also Journal Article in Journal of the Japanese and International Economies (2010)
    Chapter (2010)
19. Measuring the Impact of Fiscal Policy in the Face of Anticipation: A Structural VAR Approach
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (43)
    See also Journal Article in Economic Journal (2010)
20. Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (36)
    Also in 2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (24)
    See also Journal Article in Review of Economic Dynamics (2011)

2008

21. Incomplete Cost Pass-Through Under Deep Habits
    Economics Working Papers, European University Institute View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (2)
    See also Journal Article in Review of Economic Dynamics (2010)
22. The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence
    Economics Working Papers, European University Institute View citations (26)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (18)
    2008 Meeting Papers, Society for Economic Dynamics (2008) View citations (22)

2007

23. Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (115)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (128)
24. Labor Market Dynamics and the Business Cycle: Structural Evidence for the United States
    CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy View citations (60)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (46)
    See also Journal Article in Scandinavian Journal of Economics (2007)
25. Pricing to Habits and the Law of One Price
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (25)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (2)
    Economics Working Papers, European University Institute (2006) View citations (1)
    See also Journal Article in American Economic Review (2007)

2006

26. The Consumption-Tightness Puzzle
    Economics Working Papers, European University Institute View citations (27)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (27)
    NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (27)
    See also Chapter (2008)

2005

27. "Aggregation Bias" DOES Explain the PPP Puzzle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (7)
28. PPP Strikes Back: Aggregation and the Real Exchange Rate
    Post-Print, HAL View citations (306)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (49)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (14)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2003) View citations (4)
    IMF Working Papers, International Monetary Fund (2003) View citations (41)
    See also Journal Article in The Quarterly Journal of Economics (2005)
29. The Macroeconomics of Subsistence Points
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (7)
    See also Journal Article in Macroeconomic Dynamics (2008)

2004

30. Deep Habits
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (57)
    Also in 2004 Meeting Papers, Society for Economic Dynamics (2004) View citations (108)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (11)
    See also Journal Article in Review of Economic Studies (2006)
31. The HP-Filter in Cross-Country Comparisons
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (18)
    Also in Studies on the Spanish Economy, FEDEA View citations (34)
    Working Papers, Barcelona School of Economics (2003) View citations (11)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2003) View citations (12)
    See also Software Item (2001)

2003

32. Markov Switching Causality and the Money-Output Relationship
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    See also Journal Article in Journal of Applied Econometrics (2005)
33. Non-Linearities and Real Exchange Rate Dynamics
    Post-Print, HAL View citations (15)
    See also Journal Article in Journal of the European Economic Association (2003)

2002

34. International Business Cycles: The Quantitative Role of Transportation Costs
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    See also Journal Article in Journal of International Money and Finance (2004)

2001

35. Consumption Dynamics and Real Exchange Rate
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (52)
36. On Adjusting the HP-Filter for the Frequency of Observations
    CESifo Working Paper Series, CESifo View citations (53)
    Also in Other publications TiSEM, Tilburg University, School of Economics and Management (1997)
    Discussion Paper, Tilburg University, Center for Economic Research (1997) View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (164)

2000

37. The macroeconomic effects of German unification: Real adjustments and the welfare state
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (57)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations (1)
    See also Journal Article in Review of Economic Dynamics (2000)

1998

38. Crossing the Rio Grande: Migrations, Business Cycles and the Welfare State
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (1997) View citations (6)
39. Relative price riddles in international business cycle theory: Are transport costs the explanation?
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (3)

1997

40. Asymmetric effects of monetary policy in the US: Positive vs. negative or big vs. small?
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (14)

1996

41. A Reconsideration of the Empirical Evidence on the Asymmetric Effects of Money-supply shocks: Positive vs. Negative or Big vs. Small
    Archive Discussion Papers, Birkbeck, Department of Economics, Mathematics & Statistics View citations (27)

1995

42. International consumption risk sharing
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1994) View citations (3)
    See also Journal Article in International Economic Review (1996)
43. Minimum Wages: Curse or Blessing?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)

Journal Articles

2023

1. Sentimental Business Cycles
   Review of Economic Studies, 2023, 90, (3), 1358-1393
   See also Working Paper (2020)

2022

2. (S)Cars and the Great Recession
   Econometrica, 2022, 90, (5), 2319-2356 View citations (1)
   See also Working Paper (2020)

2021

3. Macroeconomic Fluctuations with HANK & SAM: an Analytical Approach
   Journal of the European Economic Association, 2021, 19, (2), 1162-1202 View citations (16)
   See also Working Paper (2017)

2019

4. Does economic insecurity really impact on gun violence at US schools?
   Nature Human Behaviour, 2019, 3, (3), 198-199 View citations (4)
5. The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply
   American Economic Review, 2019, 109, (7), 2679-91 View citations (23)

2018

6. The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar U.S. Housing Credit Policy
   The Quarterly Journal of Economics, 2018, 133, (3), 1503-1560 View citations (34)
   See also Working Paper (2017)

2017

7. Job uncertainty and deep recessions
   Journal of Monetary Economics, 2017, 90, (C), 125-141 View citations (96)
   See also Working Paper (2015)

2014

8. A reconciliation of SVAR and narrative estimates of tax multipliers
   Journal of Monetary Economics, 2014, 68, (S), S1-S19 View citations (133)
   See also Working Paper (2012)
9. Fiscal Policy in an Expectations-Driven Liquidity Trap
   Review of Economic Studies, 2014, 81, (4), 1637-1667 View citations (218)
   See also Working Paper (2010)

2013

10. The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States
    American Economic Review, 2013, 103, (4), 1212-47 View citations (723)
    See also Working Paper (2012)

2012

11. Consumption, government spending, and the real exchange rate
    Journal of Monetary Economics, 2012, 59, (3), 215-234 View citations (153)
12. Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks
    American Economic Journal: Economic Policy, 2012, 4, (2), 145-81 View citations (251)
    See also Chapter (2010)
    Working Paper (2010)

2011

13. Leverage and the Financial Accelerator in a Liquidity Trap
    American Economic Review, 2011, 101, (3), 413-16 View citations (17)
14. Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks
    NBER International Seminar on Macroeconomics, 2011, 7, (1), 41 - 76 View citations (23)
    See also Working Paper (2010)
    Chapter (2010)
15. The Research Agenda: Karel Mertens and Morten Ravn on Fiscal Policy, Anticipation Effects, Expectations and Crisis
    EconomicDynamics Newsletter, 2011, 12, (2)
16. Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks
    Review of Economic Dynamics, 2011, 14, (1), 27-54 View citations (193)
    See also Software Item (2010)
    Working Paper (2010)
    Working Paper (2009)

2010

17. Deep habits and the dynamic effects of monetary policy shocks
    Journal of the Japanese and International Economies, 2010, 24, (2), 236-258 View citations (43)
    See also Working Paper (2009)
    Chapter (2010)
18. Incomplete Cost Pass-Through Under Deep Habits
    Review of Economic Dynamics, 2010, 13, (2), 317-332 View citations (14)
    Also in Proceedings, 2008 (2008) View citations (1)
    See also Software Item (2010)
    Working Paper (2008)
19. Measuring the Impact of Fiscal Policy in the Face of Anticipation: A Structural VAR Approach
    Economic Journal, 2010, 120, (544), 393-413 View citations (153)
    See also Working Paper (2009)
20. One TV, One Price?
    Scandinavian Journal of Economics, 2010, 112, (4), 753-781 View citations (36)
    See also Working Paper (2010)

2008

21. MACROECONOMICS OF SUBSISTENCE POINTS
    Macroeconomic Dynamics, 2008, 12, (S1), 136-147 View citations (29)
    See also Working Paper (2005)

2007

22. Labor Market Dynamics and the Business Cycle: Structural Evidence for the United States
    Scandinavian Journal of Economics, 2007, 109, (4), 743-777 View citations (68)
    See also Working Paper (2007)
23. Pricing to Habits and the Law of One Price
    American Economic Review, 2007, 97, (2), 232-238 View citations (23)
    See also Working Paper (2007)

2006

24. Deep Habits
    Review of Economic Studies, 2006, 73, (1), 195-218 View citations (200)
    See also Working Paper (2004)
25. The Consumption-Tightness Puzzle [with Comments]
    NBER International Seminar on Macroeconomics, 2006, 2006, (1), 9 - 63

2005

26. Markov switching causality and the money-output relationship
    Journal of Applied Econometrics, 2005, 20, (5), 665-683 View citations (71)
    See also Working Paper (2003)
27. PPP Strikes Back: Aggregation And the Real Exchange Rate
    The Quarterly Journal of Economics, 2005, 120, (1), 1-43 View citations (331)
    See also Working Paper (2005)

2004

28. Asymmetric effects of monetary policy in the United States
    Review, 2004, 86, (Sep), 41-60 View citations (95)
29. International business cycles: the quantitative role of transportation costs
    Journal of International Money and Finance, 2004, 23, (4), 645-671 View citations (57)
    See also Working Paper (2002)

2003

30. Nonlinearities and Real Exchange Rate Dynamics
    Journal of the European Economic Association, 2003, 1, (2-3), 639-649 View citations (51)
    See also Working Paper (2003)

2002

31. On adjusting the Hodrick-Prescott filter for the frequency of observations
    The Review of Economics and Statistics, 2002, 84, (2), 371-375 View citations (1065)

2000

32. The Macroeconomic Effects of German Unification: Real Adjustments and the Welfare State
    Review of Economic Dynamics, 2000, 3, (3), 423-460 View citations (54)
    See also Working Paper (2000)

1999

33. Schooling, Training, Growth and Minimum Wages
    Scandinavian Journal of Economics, 1999, 101, (3), 441-457 View citations (24)

1997

34. International business cycles in theory and in practice
    Journal of International Money and Finance, 1997, 16, (2), 255-283 View citations (23)
35. Permanent and Transitory Shocks, and the UK Business Cycle
    Journal of Applied Econometrics, 1997, 12, (1), 27-48 View citations (15)

1996

36. International Consumption Risk Sharing
    International Economic Review, 1996, 37, (3), 573-601 View citations (103)
    See also Working Paper (1995)

1995

37. Stylized facts and regime changes: Are prices procyclical?
    Journal of Monetary Economics, 1995, 36, (3), 497-526 View citations (31)

Chapters

2010

1. Deep Habits and the Dynamic Effects of Monetary Policy Shocks
   A chapter in Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR), 2010, pp 236-258 View citations (31)
   See also Working Paper (2009)
   Journal Article in Journal of the Japanese and International Economies (2010)
2. Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks
   A chapter in Fiscal Policy (Trans-Atlantic Public Economics Seminar, TAPES), 2010, pp 145-181 View citations (6)
   See also Journal Article in American Economic Journal: Economic Policy (2012)
   Working Paper (2010)
3. Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks
   A chapter in NBER International Seminar on Macroeconomics 2010, 2010, pp 41-76 View citations (6)
   See also Journal Article in NBER International Seminar on Macroeconomics (2011)
   Working Paper (2010)

2008

4. The Consumption-Tightness Puzzle
   A chapter in NBER International Seminar on Macroeconomics 2006, 2008, pp 9-63 View citations (38)
   See also Working Paper (2006)

Software Items

2010

1. Code and data files for "Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2011)
2. Code file for "Incomplete cost pass-through under deep habits"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2010)

2001

3. GAUSS code for the HP-filter reformulated as a constrained minimization problem
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Working Paper (2004)

1994

4. GAUSS code for solving for the decision rules using a Ricatti Equation approach
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles

Undated

5. Alternate GAUSS program for the Hodrick-Prescott Filter
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
6. GAUSS code for Backus-Kehoe-Kydland
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
7. GAUSS code for Mehra-Prescott
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
8. GAUSS program for Hodrick-Prescott filter
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
9. King-Plosser-Rebelo GAUSS programmes
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles

Editor

1. Economic Journal
   Royal Economic Society
2. The Economic Journal
   Royal Economic Society