Comments and Discussion (2008)
Brookings Papers on Economic Activity - 2008, 1
Intermediate Goods and Weak Links: A Theory of Economic Development (2008)
Charles I. Jones, Andy Atkeson, Pol Antras, Sustanto Basu, Olivier Blanchard, Bill Easterly, ...
Per capita income in the richest countries of the world exceeds that in the poorest countries by more than a factor of 50. What explains these enormous differences? This paper returns to two old...
Intermediate Goods and Weak Links: A Theory of Economic Development (2007)
Charles I. Jones, Andy Atkeson, Pol Antras, Sustanto Basu, Olivier Blanchard, Bill Easterly, ...
Per capita income in the richest countries of the world exceeds that in the poorest countries by more than a factor of 50. What explains these enormous differences? This paper returns to two old...
Intermediate Goods, Weak Links, and Superstars: A Theory of Economic Development (2007)
Charles I. Jones, Andy Atkeson, Pol Antras, Sustanto Basu, Olivier Blanchard, Bill Easterly, ...
Per capita income in the richest countries of the world exceeds that in the poorest countries by more than a factor of 50. What explains these enormous differences? This paper returns to several old...
The Rise In, Robert E. Hall, Charles I. Jones, Emmett Keeler, Ron Lee, Joseph Newhouse, ...
this paper are available at Jones's website
Of Economic Development, Charles I. Jones, Luis Garicano, Pierre-olivier Gourinchas, Chang Hsieh, Pete Klenow, ...
This paper returns to two old ideas in development economics and proposes that complementarity and linkages are at the heart of the explanation
N. Gregory Mankiw is the Robert M. Beren Professor of Economics, Harvard University, (2006)
N. Gregory Mankiw, James Hines, Donald Marron, David Romer, Timothy Taylor, Michael Waldman, ...
comments. Economists like to strike the pose of a scientist. I know, because I often do it myself. When I teach undergraduates, I very consciously describe the field of economics as a science, so no...
Inflation and the Informativeness of Prices (2003)
Ball, Laurence M., Romer, David.
Journal of Money, Credit, and Banking - Volume 35, Number 2, March 2003
Macroeconomia avanzada / David Romer : traductores Gloria Trinidad, Esteban Flamini (2002)
Incluye bibliografía e índice
The Significance of Federal Taxes as Automatic Stabilizers (2000)
David Romer, Tim Taylor, Jim Ziliak, Alan J. Auerbach, Alan J. Auerbach, Daniel Feenberg, ...
meeting for helpful discussions and comments on an earlier draft, and to Nancy Nicosia for research assistance. Auerbach received financial support for this research through the Burch Center for Tax...
Trade and Growth in East Asian Countries: Cause and Effect (1996)
Jeffrey A Frankel, David Romer, Teresa Cyrus, Jeffrey A. Frankel, David Romer
D. C., where Frankel was a Senior Fellow when much of this paper was written; the Export-Import
Mankiw, N. Gregory, Romer, David
Incluye bibliografía e índice
General equilibrium analysis of government financial policies /--by David Hibbard Romer. (1985)
Supervised by Stanley Fisher.
Sticky Prices as Coordination Failure.
This paper links the "coordination failure" and "menu cost" approaches to the microeconomic foundations of Keynesian macroeconomics. If a firm's desired price is increasing in others' prices, then...
The Equilibrium and Optimal Timing of Price Changes
This paper studies the welfare properties of the equilibrium timing of price changes. Staggered price-setting has the advantage that it permits rapid adjustment to firm-specific shocks but the...
The Equilibrium and Optimal Timing of Price Changes
This paper studies the welfare properties of the equilibrium timing of price changes. Staggered price-setting has the advantage that it permits rapid adjustment to firm-specific shocks but the...
Real Rigidities and the Non-Neutrality of Money
Rigidities in real prices are not sufficient to create rigidities in nominal prices and real effects of nominal shocks. And, by themselves, small frictions in nominal adjustment, such as costs of...
Staggered Price Setting with Endogenous Frequency of Adjustment
The classic models of staggered adjustment of Taylor and Blanchard takes the frequency of price or wage adjustment as exogenous. This paper develops a model in which the frequency of price changes in...
Do Firms Maximize? Evidence from Professional Football
We compare the performance of organizational forms (M-form and U-form) in experimenting with uncertain projects. In our framework, organizational forms affect the information structure of an...
The New Keynsesian Economics and the Output-Inflation Trade-off
LAURENCE BALL, N. GREGORY MANKIW, DAVID ROMER
macroeconomics, New Keynsesian Economics, Output-Inflation Trade-off
Jeffrey A. Frankel, David Romer
Examining the correlation between trade and income cannot identify the direction of causation between the two. Countries' geographic characteristics, however, have important effects on trade and are...
Rational Asset-Price Movements without News.
This paper argues that an important part of movements in asset prices may be caused by neither external news nor irrationality but by the revelation of information by the trading process itself. Two...
Keynesian Macroeconomics without the LM Curve
Changes in both the macroeconomy and in macroeconomics suggest that the IS-LM-AS model is no longer the best baseline model of short-run fluctuations for teaching and policy analysis. This paper...
Misconceptions and Political Outcomes
A large literature shows that strategic interactions among actors with conflicting objectives can cause the political process to produce outcomes that lower welfare. This paper investigates an...
Why Should Governments Issue Bonds?
This paper has three purposes. First, it shows that several recent arguments that the optimal nominal interest rate on government bonds is zero even when second best considerations are accounted for...
The New Keynsesian Economics and the Output-Inflation Trade-off
LAURENCE BALL, N. GREGORY MANKIW, DAVID ROMER
macroeconomics, New Keynsesian Economics, Output-Inflation Trade-off
The New Keynsesian Economics and the Output-Inflation Trade-off
LAURENCE BALL, N. GREGORY MANKIW, DAVID ROMER
macroeconomics, New Keynsesian Economics, Output-Inflation Trade-off
Stock Market Forecastability and Volatility: A Statistical Appraisal.
Mankiw, N Gregory, Romer, David, Shapiro, Matthew D
This paper presents and implements statistical tests of stock-market forecastability and volatility that are immune from the severe statistical problems of earlier tests. It finds that although the...
Real Rigidities and the Non-neutrality of Money.
Rigidities in real prices are not sufficient to create rigidities in nominal prices and real effects of nominal shocks. And, by themselves, small frictions in nominal adjustment, such as costs of...
The Equilibrium and Optimal Timing of Price Changes.
This paper studies the welfare properties of the equilibrium timing of price changes. Staggered price setting has the advantage that it permits rapid adjustment to firm-specific shocks, but the...
Trade and growth in East Asian countries: cause and effect?
Jeffrey A. Frankel, David Romer, Teresa Cyrus
Estimates of growth equations have found a role for openness, particularly in explaining rapid growth among East Asian countries. But major concerns of simultaneous causality between growth and trade...
Inflation and the Informativeness of Prices.
This paper studies the welfare effects of the relative-price variability arising from inflation. If customers and suppliers form long-term relationships, prices have an informational role: a...
Openness and Inflation: Theory and Evidence.
Because unanticipated monetary expansion leads to real exchange rate depreciation and because the harms of real depreciation are greater in more open economies, the benefits of unanticipated...
A Contribution to the Empirics of Economic Growth.
Mankiw, N Gregory, Romer, David, Weil, David N
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human...
Nominal price rigidity has a negative externality: rigidity in one firm's price increases the variability of aggregate real spending, which harms all firms. This paper investigates whether this...
Sticky Prices as Coordination Failure
This paper shows that nominal price rigidity can arise from a failure to coordinate price changes. If a firm's desired price is increasing in others' prices, then the gains to the firm from adjusting...
This paper shows that small costs of changing nominal prices can lead to rigidities that cause highly inefficient fluctuations in real variables. As a result, aggregate demand stabilization can be...
Openness and Inflation: Theory and Evidence
This paper points out and tests a straight forward but previously unnoticed prediction of models in which the absence of precommitment in monetary policy leads to excessive inflation. Because...
A Contribution to the Empirics of Economic Growth
N. Gregory Mankiw, David Romer, David N. Weil
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human...
Rational Asset Price Movements Without News
This paper argues that an important part of movements in asset prices may be caused by neither external news nor irrationality, but the by revelation of information by the trading process itself. Two...
Inflation and the Informativeness of Prices
This paper studies the welfare effects of the relative price variability arising from inflation. When agents interact in anonymous markets, with customers buying from new suppliers each period,...
Trade and Growth: An Empirical Investigation
Jeffrey A. Frankel, David Romer
Countries' geographic characteristics have important effects on their trade, and are plausibly uncorrelated with other determinants of their incomes. This paper therefore constructs measures of the...
Trade and Growth in East Asian Countries: Cause and Effect?
Jeffrey A. Frankel, David Romer, Teresa Cyrus
Estimates of growth equations have found a role for openness, particularly in explaining rapid growth among East Asian countries. But major concerns of simultaneous causality between growth and trade...
Misconceptions and Political Outcomes
A large recent literature shows that strategic interactions among actors with conflicting objectives can produce inefficient political decisions. This paper investigates an alternative explanation of...
Keynesian Macroeconomics without the LM Curve
Changes in both the macroeconomy and in macroeconomics suggest that the IS-LM-AS model is no longer the best baseline model of short-run fluctuations for teaching and policy analysis. This paper...
This paper uses play-by-play accounts of virtually all regular season National Football League games for 1998-2000 to analyze teams' choices on fourth down between trying for a first down and...
New Keynesian Economics - Vol. 1: Imperfect Competition and Sticky Prices
N. Gregory Mankiw, David Romer
These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations...
New Keynesian Economics - Vol. 2: Coordination Failures and Real Rigidities
N. Gregory Mankiw, David Romer
These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations...