Applying Level Set Theory To Digital Video Segmentation (2001)
Patrick Kehoe, Richard B. Reilly
The emergence of the MPEG-4 standard has brought the area of video segmentation and contour tracking to the forefront or research. In MPEG-4 video sequences are decomposed into various video object...
The transition a new economy following the Second Industrial Revolution (2001)
During Second Industrial Revolution, 1860---1900, many new technologies, including elec- tricity, were invented. This revolution launched a period about years ongoing rapid technical change driven...
Web interface for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?"
David Backus, Patrick Kehoe, Finn E. Kydland
This is a version of the program used in David Backus, Patrick Kehoe and Finn Kydland, "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?," American Economic Review, vol. 84, pp....
V.V. Chari, Patrick Kehoe, Ellen R. McGrattan
In recent financial crises and in recent theoretical studies of them, abrupt declines in capital inflows, or sudden stops, have been linked with large drops in output. Do sudden stops cause output...
EconomicDynamics Forum: Patrick Kehoe on Whether Price Rigidities Matter for Business Cycle Analysis
Patrick Kehoe is Monetary Adviser at the Research Department of the Federal Reserve Bank of Minneapolis and the Frenzel Professor of International Economics at the University of Minnesota. His...
Deflation and Depression: Is There and Empirical Link?
Are deflation and depression empirically linked? No, concludes a broad historical study of inflation and real output growth rates. Deflation and depression do seem to have been linked during the...
Modern Macroeconomics in Practice: How Theory is Shaping Policy
Patrick Kehoe, Varadarajan V. Chari
Theoretical advances in macroeconomics made in the last three decades have had a major influence on macroeconomic policy analysis. Moreover, over the last several decades, the United States and other...
Policy-driven productivity in Chile and Mexico in the 1980s and 1990s
Raimundo Soto, Raphael Bergoeing, Timothy Kehoe, Patrick Kehoe.
Dynamics of the trade balance and the terms of trade: the J-curve revisited
David Backus, Patrick Kehoe, Finn Kydland
We provide a new interpretation of the statistical relation between the trade balance and the terms of trade. This relation includes the J-curve, the tendency for trade balances to be negatively...
DOS executable for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?"
David Backus, Patrick Kehoe, Finn E. Kydland
This is a version of the program used in David Backus, Patrick Kehoe and Finn Kydland, "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?," American Economic Review, vol. 84, pp....
The Optimal Choice of a Monetary Policy Instrument
Andrew Atkeson, Vyjayanthi Chari, Patrick Kehoe
Monetary policy instruments di¤er in tightness. how closely they are linked to in.a- tion. and transparency. how easily they can be monitored. Tightness is always desirable, while transparency is...
Time-Varying Risk, Interest Rates, and Exchange Rates in General Equilibrium
Fernando Alvarez, Andrew Atkeson, Patrick Kehoe
Time-varying risk is the primary force driving nominal interest rate differentials on currencydenominated bonds. This finding is an immediate implication of the fact that exchange rates are roughly...
Industry Evolution and Transition: A Neoclassical Benchmark
Recently, a large number of countries have undertaken major reforms that have led to a large increase in the number of new enterprises. After these reforms, however, it has taken a number of years...
The conventional wisdom is that capital flows between developing countries and developed countries are more volatile than can be justified by fundamentals. In this paper we construct a simple model...
The Optimal Degree of Discretion in Monetary Policy
Susan Athey, Andrew Atkeson, Patrick Kehoe
How much discretion should the monetary authority have in setting its policy? This question is analyzed in an economy with an agreed-upon social welfare function that depends on the randomly...