Staff Report

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258: Sequential equilibria in a Ramsey tax model

Christopher Phelan and Ennio Stacchetti

257: Malthus to Solow

Gary Hansen and Edward Prescott

256: Paths of development for early- and late-bloomers in a dynamic Heckscher-Ohlin model

Andrew Atkeson and Patrick Kehoe

255: Complex eigenvalues and trend-reverting fluctuations

Costas Azariadis, James Bullard and Lee Ohanian

254: Dynamic games with hidden actions and hidden states

Harold Cole and Narayana Kocherlakota

253: Efficient non-contractible investments

Harold Cole, George Mailath and Andrew Postlewaite

252: The existence of rational expectations equilibrium: a retrospective

Beth Allen and James Jordan

251: Optimal fiscal and monetary policy

Varadarajan Chari and Patrick Kehoe

250: Explaining cross-country income differences

Ellen McGrattan and James Schmitz

249: Using simulation methods for Bayesian econometric models: inference, development, and communication

John Geweke

248: The defining moment: a review essay

Lee Ohanian

247: Comments on Gordon, Leeper, and Zha's trends in velocity and policy expectations

Ellen McGrattan

246: The demand for money and the nonneutrality of money

Harold Cole and Lee Ohanian

245: A gain from trade: more research, less obstruction

Thomas Holmes and James Schmitz

244: Is there a trend break in U.S. GNP? A macroeconomic perspective

Lutz Kilian and Lee Ohanian

243: Dynamic equilibrium economies: a framework for comparing models and data

Jeremy Berkowitz, Francis Diebold and Lee Ohanian

242: Needed: a theory of total factor productivity

Edward Prescott

241: Transaction services, inflation, and welfare

S. Aiyagari, R. Braun and Zvi Eckstein

240: Government production of investment goods and aggregate labor productivity

James Schmitz

239: Capital-skill complementarity and inequality: a macroeconomic analysis

Per Krusell, Lee Ohanian, José-Víctor Ríos-Rull and Giovanni Violante

238: Efficient allocations with hidden income and hidden storage

Harold Cole and Narayana Kocherlakota

237: Mixture of normals probit models

John Geweke and Michael Keane

236: Monopoly rights: a barrier to riches

Stephen Parente and Edward Prescott

235: Marital risk and capital accumulation

Luis Cubeddu and José-Víctor Ríos-Rull

234: On the size of U.S. government: political economy in the neoclassical growth model

Per Krusell and José-Víctor Ríos-Rull

233: An empirical analysis of income dynamics among men in the PSID: 1968-1989

John Geweke and Michael Keane

232: Application of weighted residual methods to dynamic economic models

Ellen McGrattan

231: Computation of equilibria in heterogeneous agent models

José-Víctor Ríos-Rull

230: Models of energy use: putty-putty vs. putty-clay

Andrew Atkeson and Patrick Kehoe

229: Why do stock prices drop by less than the value of the dividend? Evidence from a country without taxes

Murray Frank and Ravi Jagannathan

228: Hot money

Varadarajan Chari and Patrick Kehoe

227: Sticky price and limited participation models of money: a comparison

Lawrence Christiano, Martin Eichenbaum and Charles Evans

226: Implementation theory with incomplete information

Beth Allen

225: Cooperative theory with incomplete information

Beth Allen

224: Can the Mortonson-Pissarides matching model match the business cycle facts?

Harold Cole and Richard Rogerson

223: Can sticky price models generate volatile and persistent real exchange rates?

Varadarajan Chari, Patrick Kehoe and Ellen McGrattan

222: Individual and aggregate real balances in a random matching model

Ruilin Zhou

221: Step-by-step migration to efficient agglomerations

Thomas Holmes

220: Pattern bargaining

Robert Marshall and Antonio Merlo

219: How industries migrate when agglomeration economies are important

Thomas Holmes

218: Money is memory

Narayana Kocherlakota

217: Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?

Varadarajan Chari, Patrick Kehoe and Ellen McGrattan

216: On the political economy of income redistribution and crime

Ayse Imrohoroglu, Antonio Merlo and Peter Rupert

215: A model of commodity money, with applications to Gresham's law and the debasement puzzle

Francois Velde, Warren Weber and Randall Wright

214: Chaos, sunspots, and automatic stabilizers

Lawrence Christiano and Sharon Harrison

213: Class systems and the enforcement of social norms

Harold Cole, George Mailath and Andrew Postlewaite

212: The balance of payments and borrowing constraints: an alternative view of the Mexican crisis

Andrew Atkeson and José-Víctor Ríos-Rull

211: Self-fulfilling debt crises

Harold Cole and Timothy Kehoe

210: A self-fulfilling model of Mexico's 1994-95 debt crisis

Harold Cole and Timothy Kehoe

209: Reputation spillover across relationships: reviving reputation models of debt

Harold Cole and Patrick Kehoe