Working Papers

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2015-7: Fertility Shocks and Equilibrium Marriage-Rate Dynamics

John Knowles and Guillaume Vandenbroucke

2015-6: The Making of an Economic Superpower―Unlocking China’s Secret of Rapid Industrialization

Yi Wen

2015-5: Self-Fulfilling Credit Cycles

Costas Azariadis, Leo Kaas and Yi Wen

2015-4: Schools and Stimulus

Bill Dupor and M. Saif Mehkari

2015-3: Rehypothecation and Liquidity

David Andolfatto, Fernando Martin and Shengxing Zhang

2015-2: Scarcity of Safe Assets, Inflation, and the Policy Trap

David Andolfatto and Stephen Williamson

2015-1: Institutions Do Not Rule: Reassessing the Driving Forces of Economic Development

Jinfeng Luo and Yi Wen

2014-50: Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels

John Clapp, Jeffrey Cohen and Cletus Coughlin

2014-49: Equilibrium Sovereign Default with Exchange Rate Depreciation

Sergey Popov and David Wiczer

2014-48: Explaining Educational Attainment across Countries and over Time

Diego Restuccia and Guillaume Vandenbroucke

2014-47: Universal Basic Income versus Unemployment Insurance

Alice Fabre, Stephane Pallage and Christian Zimmermann

2014-46: Metro Business Cycles

Maria A. Arias, Charles Gascon and David E. Rapach

2014-45: Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations

Diego Comin, Mark Gertler and Ana Maria Santacreu

2014-44: Reaction functions in a small open economy: What role for non-traded inflation?

Ana Maria Santacreu

2014-43: The Trade Comovement Puzzle and the Margins of International Trade

Wei Liao and Ana Maria Santacreu

2014-42: Innovation, Diffusion, and Trade: Theory and Measurement

Ana Maria Santacreu

2014-041: The Gravity of Experience

Pushan Dutt, Ana Maria Santacreu and Daniel Traca

2014-40: Student Loans and Repayment: Theory, Evidence and Policy

Lance Lochner and Alexander Monge-Naranjo

2014-39: Education Policies and Structural Transformation

Pedro Ferreira, Alexander Monge-Naranjo and Luciene Torres de Mello Pereira

2014-38: Bad Investments and Missed Opportunities? Capital Flows to Asia and Latin America, 1950-2007

Lee Ohanian, Paulina Restrepo-Echavarria and Mark Wright

2014-37: Endogenous Borrowing Constraints and Stagnation in Latin America

Paulina Restrepo-Echavarria

2014-36: Interjurisdictional Competition and Location Decisions of Firms

Ruben Hernandez-Murillo

2014-35: Targeted Search in Matching Markets

Anton Cheremukhin, Paulina Restrepo-Echavarria and Antonella Tutino

2014-034: The role of jumps in volatility spillovers in foreign exchange markets: meteor shower and heat waves revisited

Jerome Lahaye and Christopher Neely

2014-033: Can risk explain the profitability of technical trading in currency markets?

Matthew Famiglietti, Yuliya Ivanova, Christopher Neely and Paul A. Weller

2014-32: Wage dynamics and labor market transitions: a reassessment through total income and “usual” wages

Maria Canon and Ronni Pavan

2014-31: Sovereign Default and the Choice of Maturity

Juan Sanchez, Horacio Sapriza and Emircan Yurdagul

2014-30: Unauthorized Immigration and Fiscal Competition

Subhayu Bandyopadhyay and Santiago Pinto

2014-29: A Cup Runneth Over: Fiscal Policy Spillovers from the 2009 Recovery Act

Bill Dupor and Peter McCrory

2014-28: Rural-Urban Migration, Structural Transformation, and Housing Markets in China

Carlos Garriga, Yang Tang and Ping Wang

2014-27: Three Scenarios for Interest Rates in the Transition to Normalcy

Diana A. Cooke and William Gavin

2014-26: Low Real Interest Rates, Collateral Misrepresentation, and Monetary Policy

Stephen Williamson

2014-25: Evaluating Conditional Forecasts from Vector Autoregressions

Todd Clark and Michael McCracken

2014-24: Occupational hazards and social disability insurance

Amanda Michaud and David Wiczer

2014-23: The 2009 recovery act: stimulus at the extensive and intensive labor margins

Bill Dupor and M. Saif Mehkari

2014-22: The great housing boom of China

Kaiji Chen and Yi Wen

2014-21: Preventing bank runs

David Andolfatto, Ed Nosal and Bruno Sultanum

2014-20: Financial stress regimes and the macroeconomy

Ana Galvão and Michael Owyang

2014-19: How Has Empirical Monetary Policy Analysis Changed After the Financial Crisis?

Neville Francis, Laura E. Jackson and Michael Owyang

2014-18: Corporate income tax, legal form of organization, and employment

Daphne Chen, Shi Qi and Don Schlagenhauf

2014-17: Taxing top earners: a human capital perspective

Alejandro Badel and Mark Huggett

2014-16: QE: when and how should the Fed exit?

Yi Wen

2014-15: The cost of business cycles with heterogeneous trading technologies

YiLi Chien

2014-14: Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy

YiLi Chien, Harold Cole and Hanno Lustig

2014-13: Navigating constraints: the evolution of Federal Reserve monetary policy, 1935-59

Mark Carlson and David Wheelock

2014-12: Capital goods trade and economic development

Piyusha Mutreja, B Ravikumar and Michael Sposi

2014-11: Reversal of Gender Gaps in Child Development: Evidence from Young Children in India

Maria Canon and Florencia Lopez Boo

2014-10: Credit markets, limited commitment, and government debt

Francesca Carapella and Stephen Williamson

2014-9: Keynesian inefficiency and optimal policy: a new monetarist approach

Stephen Williamson

2014-8: Scarce collateral, the term premium, and quantitative easing

Stephen Williamson