Discussion Papers

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1737: The Nature of Firm Growth

Benjamin Pugsley, Petr Sedlacek and Vincent Sterk

1736: The Importance of Hiring Frictions in Business Cycles

Renato Faccini and Eran Yashiv

1735: Productivity and Misallocation in General Equilibrium

David Baqaee and Emmanuel Farhi

1734: The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten’s Theorem

David Baqaee and Emmanuel Farhi

1733: The Human Capital Stock: A Generalized Approach Comment

Francesco Caselli and Antonio Ciccone

1732: Friedman’s Presidential Address in the Evolution of Macroeconomic Thought

N. Gregory Mankiw and Ricardo Reis

1731: The Fiscal Theory of the Price Level in a World of Low Interest Rates

Marco Bassetto and Wei Cui

1730: The Effect of News Shocks and Monetary Policy

Luca Gambetti, Dimitris Korobilis, John Tsoukalas and Francesco Zanetti

1729: Contingent Judicial Deference: theory and application to usury laws

Bernardo Guimaraes and Bruno Salama

1728: Skill-Biased Technical Change and Labor Market Polarization: The Role of Skill Heterogeneity Within Occupations

Orhun Sevinc

1727: Managing the UK National Debt 1694-2017

Martin Ellison and Andrew Scott

1726: Dynamic coordination with timing frictions: theory and applications

Bernardo Guimaraes, Caio Machado and Ana Elisa Pereira

1725: Measuring Productivity Dispersion: Lessons from counting one-hundred million ballots

Ethan Ilzetzki and Saverio Simonelli

1724: Home Values and Firm Behaviour

Saleem Bahaj, Angus Foulis and Gabor Pinter

1723: Commodity Booms and Busts in Emerging Economies

Thomas Drechsel and Silvana Tenreyro

1722: Step away from the zero lower bound: Small open economies in a world of secular stagnation

Giancarlo Corsetti, Eleonora Mavroeidi, Gregory Thwaites and Martin Wolf

1721: Fixed on Flexible Rethinking Exchange Rate Regimes after the Great Recession

Giancarlo Corsetti, Keith Kuester and Gernot Müller

1720: Official Sector Lending Strategies During the Euro Area Crisis

Giancarlo Corsetti, Aitor Erce and Timothy Uy

1719: Macroeconomic Effects of Delayed Capital Liquidation

Wei Cui

1718: The Large Fall in Global Fertility: A Quantitative Model

Tiloka de Silva and Silvana Tenreyro

1717: Population Control Policies and Fertility Convergence

Tiloka de Silva and Silvana Tenreyro

1716: Default Cycles

Wei Cui and Leo Kaas

1715: Is Inflation Default? The Role of Information in Debt Crises

Marco Bassetto and Carlo Galli

1714: The Rise of Services and Balanced Growth in Theory and Data

Miguel Leon-Ledesma and Alessio Moro

1713: Is Something Really Wrong with Macroeconomics?

Ricardo Reis

1712: Fiscal Unions Redux

Patrick Kehoe

1711: The Transmission of Monetary Policy Shocks

Silvia Miranda-Agrippino and Giovanni Ricco

1710: Political Specialization

Bernardo Guimaraes and Kevin Sheedy

1709: Ambiguity, Monetary Policy and Trend Inflation

Riccardo M. Masolo and Francesca Monti

1708: Foreign Booms, Domestic Busts: The Global Dimension of Banking Crises

Ambrogio Cesa-Bianchi, Fernando Eguren Martin and Gregory Thwaites

1707: The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy

Andrew Fieldhouse, Karel Mertens and Morten Ravn

1706: The Mystery of TFP

Nicholas Oulton

1705: How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies

Andre Diniz and Bernardo Guimaraes

1704: The Role of Gender in Employment Polarization

Fabio Cerina, Alessio Moro and Michelle Rendall

1703: The Determinants of IMF Fiscal Conditionalities: economics or politics?

Bernardo Guimaraes and Carlos Ladeira

1702: State-controlled companies and political risk: Evidence from the 2014 Brazilian election

Augusto Carvalho and Bernardo Guimaraes

1701: Can the Central Bank Alleviate Fiscal Burdens?

Ricardo Reis

1639: The Effect of Foreign Investors on Local Housing Markets: Evidence from the UK

Filipa Sa

1638: Time-Consistent Fiscal Policy in a Debt Crisis

Neele Balke and Morten Ravn

1637: Aggregate Hiring and the Value of Jobs Along the Business Cycle

Eran Yashiv

1635: History Dependence in the Housing Market

Philippe Bracke and Silvana Tenreyro

1634: Achieving Price Stability by Manipulating the Central Bank's Payment on Reserves

Robert Hall and Ricardo Reis

1633: Macroeconomic Fluctuations with HANK & SAM: An Analytical Approach

Morten Ravn and Vincent Sterk

1632: The Impact of Taxes on Income Mobility

Mario Alloza

1631: Is Fiscal Policy More Effective in Uncertain Times or During Recessions?

Mario Alloza

1630: Investment in Productivity and the Long-Run Effect of Financial Crises on Output

Maarten De Ridder

1629: Returns to on-the-job search and the dispersion of wages

Gottfries Axel and C. N. Teulings

1628: Secular Stagnation, Rational Bubbles, and Fiscal Policy

C. N. Teulings

1627: ESBies: Safety in the tranches

Markus Brunnermeier, Sam Langfield, Marco Pagano, Ricardo Reis, Stijn Van Nieuwerburgh and Dimitri Vayanos

1626: Funding Quantitative Easing to Target Inflation

Ricardo Reis