“...This paper studies how rare disasters and uncertainty shocks affect risk premia in DSGE models approximated to second and third order. Based on an extension of...”

“...The bond yield dynamics implied by a welfare-maximizing monetary policy and its credibility are explored in general equilibrium. Credibility is captured by a...”

“...If entitlement to UI benefits must be earned with employment, generous UI is an additional benefit to working, so, by itself, it promotes job creation. If...”

“...This paper models individual demand for housing over the life-cycle, and shows the implications of this behaviour for aggregate demand. Individuals delay...”

“...We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset...”

“...More advanced technologies demand higher degrees of specialization - and longer chains of production connecting raw inputs to final outputs. Longer production...”

“...The business cycle accounting "wedge" methodology is used to identify the mechanisms driving the rapid growth of Hong Kong, Singapore, South Korea, and Taiwan...”

“...In this paper we consider the implications of habits for optimal monetary policy, when those habits either exist at the level of the aggregate basket of...”

“...Projected demographic changes in the U.S. will reduce the share of the working-age population. Analyses based on standard OLG models predict that these changes...”

“...Countries with oil and other natural resources have grown less rapidly than those countries without. This phenomenon is known as the "natural resource curse"...”