Working Paper Series, Macroeconomic Issues

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94-24: Indicator properties of the paper-bill spread: lessons from recent experience

Benjamin M. Friedman and Kenneth Kuttner

94-23: Asset return volatility with extremely small costs of consumption adjustment

David Marshall

94-22: The implications of first-order risk aversion for asset market risk premiums

Geert Bekaert, Robert Hodrick and David Marshall

94-21: The effect of costly consumption adjustment on asset price volatility

David Marshall and Nayan G. Parekh

94-20: Solving nonlinear rational expectations models by parameterized expectations: convergence to stationary solutions

Albert Marcet and David Marshall

94-2: The effects of monetary policy shocks: evidence from the Flow of Funds

Lawrence Christiano, Martin Eichenbaum and Charles Evans

94-19: Estimating deterministic trends in the presence of serially correlated errors

Eugene Canjels and Mark Watson

94-17: The post-war U.S. Phillips curve: a revisionist econometric history: response to Evans and McCallum

Robert King and Mark Watson

94-16: Identification of inflation-unemployment tradeoffs in the 1970s

Bennett McCallum

94-15: The post-war U.S. Phillips curve: a comment

Charles Evans

94-14: The post-war U.S. Phillips curve: a revisionist econometric history

Robert King and Mark Watson

94-13: Evidence on structural instability in macroeconomic times series relations

James Stock and Mark Watson

94-12: Small sample properties of generalized method of moments based Wald tests

Craig Burnside and Martin Eichenbaum

93-7: Credit conditions and the cyclical behavior of inventories

Anil Kashyap, Owen Lamont and Jeremy Stein

93-6: Lessons from the Japanese main bank system for financial system reform in Poland

Takeo Hoshi, Anil Kashyap and Gary W. Loveman

93-4: Investment, cash flow, and sunk costs

Paula R. Worthington

93-20: Cyclical productivity in a model of labor hoarding

Argia Sbordone

93-2: An unobserved-components model of constant-inflation potential output

Kenneth Kuttner

93-17: Economic activity and the short-term credit markets: an analysis of prices and quantities

Benjamin M. Friedman and Kenneth Kuttner

93-16: Technical change, diffusion, and productivity

Jeffrey Campbell

93-15: Testing for cointegration when some of the cointegrating vectors are known

Michael T. K. Horvath and Mark Watson

93-14: Vector autoregressions and cointegration

Mark Watson

93-13: Consumer confidence and economic fluctuations

John Matsusaka and Argia Sbordone

93-12: Monetary policy shocks and productivity measures in the G-7 countries

Charles Evans and Fernando Santos

93-10: Labor productivity during the Great Depression

Michael Bordo and Charles Evans

92-7: A procedure for predicting recessions with leading indicators: econometric issues and recent performance

James Stock and Mark Watson

92-6: Business cycle durations and postwar stabilization of the U.S. economy

Mark Watson

92-4: Investment and market imperfections in the U.S. manufacturing sector

Paula R. Worthington

92-32: Some empirical evidence on the effects of monetary policy shocks on exchange rates

Martin Eichenbaum and Charles Evans

92-3: Does the Federal Reserve affect asset prices?

Vefa Tarhan

92-28: Earnings losses of displaced workers

Louis S. Jacobson, Robert LaLonde and Daniel Sullivan

92-27: The identification of monetary policy disturbances: explaining the liquidity puzzle

Steven Strongin

92-26: Market structure, technology and the cyclicality of output

Bruce Petersen and Steven Strongin

92-25: Excess volatility and the smoothing of interest rates: an application using money announcements

Steven Strongin

92-23: Wage growth and sectoral shifts: Phillips curve redux

Ellen Rissman

92-22: Barriers to trade and union wage dynamics

Ellen Rissman

92-2: An examination of change in energy dependence and efficiency in the six largest energy using countries - 1970-1988

Jack Hervey

92-19: A policymaker's guide to indicators of economic activity

Francesca Eugeni, Charles Evans and Steven Strongin

92-18: Testing long run neutrality

Robert King and Mark Watson

92-17: Monetary policy and external finance: interpreting the behavior of financial flows and interest rate spreads

Kenneth Kuttner

92-15: Liquidity effects, monetary policy and the business cycle

Lawrence Christiano and Martin Eichenbaum

92-10: Production and inventory control at the General Motors Corporation during the 1920s and 1930s

Anil Kashyap and David Wilcox

91-9: Measures of fit for calibrated models

Mark Watson

91-7: Investment and market power

Paula R. Worthington

91-6: The role of energy in real business cycle models

In-Moo Kim and Prakash Loungani

91-5: Gross job creation, gross job destruction and employment reallocation

Steven Davis and John Haltiwanger

91-4: Stochastic trends and economic fluctuations

Robert King, Charles Plosser, James Stock and Mark Watson

91-3: A simple estimator of cointegrating vectors in higher order integrated systems

James Stock and Mark Watson

91-27: Internal net worth and the investment process: an application to U.S. agriculture

Robert Hubbard and Anil Kashyap

91-26: Sticky prices: new evidence from retail catalogs

Anil Kashyap