LSE Research Online Documents on Economics

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86328: Why are real interest rates so low? Secular stagnation and the relative price of investment goods

Gregory Thwaites

86327: Estimating the effects of forward guidance in rational expectations models

Ricahrd Harrison

86325: The curse of inflation

Erik Eyster, Kristóf Madarász and Pascal Michaillat

86324: Job uncertainty and deep recessions

Morten Ravn and Vincent Sterk

86323: Capital values and job values

Eran Yashiv

86322: Demand expectations and the timing of stimulus policies

Bernardo Guimaraes

86321: Time-dependent or state-dependent pricing? Evidence from a large devaluation episode

Celio Feltrin and Bernardo Guimaraes

86320: Can a data-rich environment help identify the sources of model misspecification?

Francesca Monti

86319: Monetary policy with ambiguity averse agents

Riccardo M. Masolo and Francesca Monti

86318: House prices and job losses

Gabor Pinter

86317: Time-consistent consumption taxation

Sarolta Laczo and Raffaele Rossi

86315: Towards a new Keynesian theory of the price level

John Barrdear

86314: Identifying noise shocks: a VAR with data revisions

Riccardo M. Masolo and Alessia Paccagnini

86313: Large capital inflows, sectoral allocation, and economic performance

Gianluca Benigno, Nathan Converse and Luca Fornaro

86312: Optimal capital controls and real exchange rate policies: A pecuniary externality perspective

Gianluca Benigno, Huigang Chen, Christopher Otrok, Alessandro Rebucci and Eric Young

86311: Communal land and agricultural productivity

Charles Gottlieb and Jan Grobovsek

86296: What moves international stock and bond markets?

Gino Cenedese and Enrico Mallucci

86295: Beyond competitive devaluations:The monetary dimensions of comparative advantage

Paul Bergin and Giancarlo Corsetti

86294: Experience-biased technical change

Francesco Caselli

86293: Diversification through trade

Francesco Caselli, Miklós Koren, Milan Lisicky and Silvana Tenreyroy

86292: The home market effect and patterns of trade between rich and poor countries

Kiminori Matsuyama

86289: Predictable recoveries

Xiaoming Cai, Wouter J. Den Haan and Jonathan Pinder

86288: Unemployment (fears) and deflationary spirals

Wouter J. Den Haan, Pontus Rendahl and Markus Riegler

86287: The fundamental nature of HARA utility

Gadi S. Perets and Eran Yashiv

86286: QE and the bank lending channel in the United Kingdom

Nick Butt, Rohan Churm, Michael McMahon, Arpad Morotz and Jochen Schanz

86285: Space-time (In)consistency in the national accounts: causes and cures

Nicholas Oulton

86284: The banks that said no: banking relationships, credit supply and productivity in the UK

Jeremy Franklin, May Rostom and Gregory Thwaites

86283: A positive theory of tax reform

Ethan Ilzetzki

86282: Globalization and synchronization of innovation cycles

Kiminori Matsuyama, Iryna Sushko and Laura Gardini

86281: The impact of contract enforcement costs on outsourcing and aggregate productivity

Johannes Boehm

86280: Energy-saving technical change

John Hassler, Per Krusell and Conny Olovsson

86279: Gross worker flows over the business cycle

Per Krusell, Toshihiko Mukoyama, Richard Rogerson and Aysegul Sahin

86278: Exact present solution with consistent future approximation: a gridless algorithm to solve stochastic dynamic models

Wouter J. Den Haan, Michal L. Kobielarz and Pontus Rendahl

86277: Unions in a frictional labor market

Leena Rudanko and Per Krusell

86276: An economic analysis of pension tax proposals

Angus Armstrong, Philip Davis and Monique Ebell

86275: Endogenous market making and network formation

Briana Chang and Shengxing Zhang

86274: Looking for a success in the euro crisis adjustment programs: the case of Portugal

Ricardo Reis

86247: Shocking language: Understanding the macroeconomic effects of central bank communication

Stephen Hansen and Michael McMahon

86246: Asymmetric inflation expectations, downward rigidity of wages,and asymmetric business cycles

David Baqaee

86245: Models, inattention and expectation updates

Raffaella Giacomini, Vasiliki Skreta and Javier Turen

86244: The dark corners of the labor market

Vincent Sterk

86243: Tracking the slowdown in long-run GDP growth

Juan Antolin-Diaz, Thomas Drechsel and Ivan Petrella

86242: Secular drivers of the global real interest rate

Lukasz Rachel and Thomas Smith

86241: Stagnation traps

Gianluca Benigno and Luca Fornaro

86240: The residential collateral channel

Saleem Bahaj, Angus Foulis and Gabor Pinter

86239: On the mechanics of New-Keynesian models

Peter Rupert and Roman Sustek

86238: VAR models with non-Gaussian shocks

Ching-Wai (Jeremy) Chiu, Haroon Mumtaz and Gabor Pinter

86237: Firms’ precautionary savings and employment during a credit crisis

Davide Melcangi

86236: The theory of unconventional monetary policy

Roger Farmer and Pawel Zabczyk

86235: Monetary policy transmission in an open economy:new data and evidence from the United Kingdom

Ambrogio Cesa-Bianchi, Gregory Thwaites and Alejandro Vicondoa

86234: Unsurprising shocks: information, Premia, and the Monetary Transmission

Silvia Miranda-Agrippino

86233: Parents, schools and human capital differences across countries

Marta De Philippis and Frederico Rossi

86232: Job displacement risk and severance pay

Marco Cozzi and Giulio Fella

86231: Matching workers

Espen Moen and Eran Yashiv

86230: The sovereign-bank diabolic loop and ESBies

Markus Brunnermeier, Luis Garicano, Philip Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh and Dimitri Vayanos

86229: Optimal automatic stabilizers

Alisdair McKay and Ricardo Reis

86228: Can agents with causal misperceptions be systematically fooled?

Ran Spiegler

86227: The decision to move house and aggregate housing-market dynamics

L. Rachel Ngai and Kevin Sheedy

86226: Finance and synchronization

Ambrogio Cesa-Bianchi

86225: The macroeconomic shock with the highest price of risk

Gabor Pintor

86224: Financial market imperfections and labour market outcomes

Alireza Sepahsalari

86223: Nominal rigidities in debt and product markets

Carlos Garriga, Finn E. Kydland and Roman Šustek

86221: ESBies: safety in the tranches

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

86220: Secular stagnation, rational bubbles, and fiscal policy

Coen Teulings

86219: Returns to on-the-job search and the dispersion of wages

Axel Gottfries and Coen Teulings

86180: Investment in productivity and the long-run effect of financial crises on output

Maarten De Ridder

86179: Is fiscal policy more effective in uncertain times or during recessions?

Mario Alloza

86178: The impact of taxes on income mobility

Mario Alloza

86177: Macroeconomic fluctuations with HANK & SAM: an analytical approach

Morten Ravn and Vincent Sterk

86176: History dependence in the housing market

Philippe Bracke and Silvana Tenreyro

86175: Aggregate hiring and the value of jobs along the business cycle

Eran Yashiv

86174: Time-consistent fiscal policy in a debt crisis

Neele L. Balke and Morten Ravn

86173: The effect of foreign investors on local housing markets: evidence from the UK

Filipa Sa

86172: State-controlled companies and political risk: evidence from the 2014 Brazilian election

Augusto Carvalho and Bernardo Guimaraes

86171: The determinants of IMF fiscal conditionalities: economics or politics?

Bernardo Guimaraes and Carlos Eduardo Ladeira

86170: The role of gender in employment polarization

Fabio Cerina, Alessio Moro and Michelle Rendall

86169: How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies

Andre Diniz and Bernardo Guimaraes

86168: The mystery of TFP

Nicholas Oulton

86167: The macroeconomic effects of Government asset purchases: evidence from postwar US housing credit policy

Andrew Fieldhouse, Karel Mertens and Morten Ravn

86166: Foreign booms, domestic busts: The global dimension of banking crises

Ambrogio Cesa-Bianchi, Fernando Eguren Martin and Gregory Thwaites

86165: Ambiguity, monetary policy and trend inflation

Riccardo M. Masolo and Francesca Monti

86164: Political specialization

Bernardo Guimaraes and Kevin Sheedy

86163: The transmission of monetary policy shocks

Silvia Miranda-Agrippino and Giovanni Ricco

86162: Fiscal unions redux

Patrick Kehoe

86161: The rise of services and balanced growth in theory and data

Miguel Leon-Ledesma and Alessio Moro

86160: Is inflation default? The role of information in debt crises

Marco Bassetto and Carlo Galli

86159: Default cycles

Wei Cui and Leo Kaas

86158: Population control policies and fertility convergence

Tiloka de Silva and Silvana Tenreyroa

86157: The large fall in global fertility: A quantitative model

Tiloka de Silva and Silvana Tenreyro

86156: Macroeconomic effects of delayed capital liquidation

Wei Cui

86155: Official sector lending strategies during the Euro Area crisis

Giancarlo Corsetti, Aitor Erce and Timothy Uy

86154: Fixed on flexible rethink exchange rate regimes after the Great Recession

Giancarlo Corsetti, Keith Kuester and Gernot Müller

86153: 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

86152: Commodity booms and busts in emerging economies

Thomas Drechsel and Silvana Tenreyro

86151: Home values and firm behaviour

Saleem Bahaj, Angus Foulis and Gabor Pinter

86150: Measuring productivity dispersion:Lessons from counting one-hundred million ballots

Ethan Ilzetzki and Saverio Simonelli

86149: Dynamic coordination with timing frictions: theory and applications

Bernardo Guimaraes, Caio Machado and Ana Elisa Pereira

86148: Managing the UK National Debt 1694-2017

Martin Ellison and Andrew Scott

86147: Skill-biased technical change and Labor market polarization:the role of skill heterogeneity within occupations

Orhun Sevinc

86146: Contingent judicial deference: theory and application to usury laws

Bernardo Guimaraesy and Bruno Meyerhof Salama