CREI Working Papers
2009
The Return
of the Wage Phillips Curve
by Jordi Gali
June 2009
Standardized Enforcement: Access to Justice
vs Legal Innovation
by Nicola
Gennaioli and E. Perotti
April 2009
Do Institutional
Changes Affect Business Cycles? Evidence from Europe
by Fabio
Canova, M. Cicarrelli and E. Ortega
March 2009
What Comes to Mind
by Nicola
Gennaioli and A. Shleifer
February 2009, revised June 2009
Comment
to "Weak Instruments Robust Tests in GMM and the New Keynesian Phillips
Curve" by F. Kleibergen and S. Mavroeidis
by Fabio
Canova
Forthcoming in Journal of Business and Economic Statistics
2008
Trade, Markup Heterogeneity
and Misallocations
by Gino
Gancia and P. Epifani
December 2008
A Medium-scale
Open Economy Model of Australia
by Kristoffer Nimark and
Jarkko Jääskelä
December 2008 (Reserve Bank of Australia Research Discussion Paper #2008-7)
Bridging
Cyclical DSGE Models and the Raw Data
by Fabio
Canova
November 2008
Multiple
Filtering Devices for the Estimation of Cyclical DSGE Models
by Fabio
Canova and F. Ferroni
November 2008, revised January 2009
Rain and the Democratic Window
of Opportunity (with M. Brückner)
Data
and Estimation Programs
(zipped stata dta and do files)
by Antonio Ciccone
October 2008
Technological
Change and the Wealth of Nations
by Gino Gancia and F. Zilibotti
October 2008
Transitory
Economic Shocks and Civil Conflict
Supplementary
Figures
Data
and Estimation Programs (zipped stata dta and do files)
by Antonio Ciccone
August 2008, revised November 2008
The Three
Horsemen of Growth: Plague, War and Urbanization in Early Modern Europe
by Joachim Voth and N. Voigtländer
August 2008
A
Model of Collateral, Investment, and Adverse Selection
by Alberto Martin
August 2008, revised January 2009
Forthcoming in Journal of Economic Theory
Entry
Regulation and Intersectoral Rellocation
Supplementary Appendix
by Antonio Ciccone and
E. Papaioannou
June 2008
Determinants of Economic Growth:
Will Data Tell?
by Antonio Ciccone and
M. Jarocinski
Web Appendix
Data
and Programs (zip file)
June 2008
Are
Central Banks' Projections Meaningful?
by Jordi Gali
March 2008, revised May 2008
A Century
of Global Equity Market Correlations
by Joachim Voth and D. Quinn
May 2008
Published in American Economic Review: Papers and Proceedings,
2008: 535-540
Combining
Multivariate Density Forecasts using Predictive Criteria
by Kristoffer Nimark and
H. Gerard
May 2008 (Reserve Bank of Australia Research Discussion Paper # 2008-02),
revised October 2008
Rethinking
the Effects of Financial Liberalization
By Fernando Broner and
Jaume Ventura
April 2008, revised October 2008
Adverse Selection,
Credit, and Efficiency: the Case of the Missing Market
by Alberto Martin
April 2008
Macroeconomic Dynamics in the Euro Area
by Marc
Giannoni, J. Boivin and B. Mojon
March 2008
The New Keynesian Approach to Monetary
Policy Analysis: Lessons and New Directions
by Jordi Gali
February 2008, revised March 2009
Cyclical
Skill-Biased Technological Change
by A. Balleer and Thijs van
Rens
February 2008, last version September 2008
Rain
and the Democratic Window of Opportunity
Data
and Estimation Programs
(zipped stata dta and do files)
by Antonio Ciccone
and M. Brückner
January 2008
Poor, Hungry
and Stupid: Numeracy and the Impact of High Food Prices in Industrializing
Britain, 1780-1850
by Joachim Voth,
J. Baten and D. Crayen
January 2008
2007
A One-Sector Neoclassical Growth Model with
Endogenous Retirement
by K.
Matsuyama
December 2007
Measurement
with Some Theory: Using Sign Restrictions to Evaluate Business Cycle Models
by Fabio
Canova and M. Paustian
November 2007
Do
Expectations Matter? The Great Moderation Revisited
by Fabio
Canova, and L. Gambetti
November 2007, revised January 2009
Aggregate
Fluctuations and the Network Structure of Intersectoral Trade
by Vasco Carvalho
November 2007, revised June 2008
Equilibrium Default
by H.
Hopenhayn and J. Werning
October 2007
Dynamic
Higher Order Expectations
by Kristoffer Nimark
October 2007
Fiscal
Insurance and Debt Management in OECD Economies
by E. Faraglia, Albert Marcet
and A. Scott
October 2007
Published in Economic Journal, 118 (527), 2008, 363-386
How Much
Structure in Empirical Models?
by Fabio
Canova
October 2007
Forthcoming in Mills, T. and K. Patterson (eds.), Palgrave Handbook
of Applied Econometrics 2008
Growth, Democracy, and
Civil War
by Antonio Ciccone and
M. Brückner
Web
Appendix
Data
and Estimation Programs (zipped stata dta and do files)
October 2007, revised November 2007
Determinants
of Economic Growth: Will Data Tell?
by Antonio Ciccone and
M. Jarocinski
October 2007
The Modern Impact of
Precolonial Centralization in Africa
by Nicola Gennaioli and
I. Rainer
September 2007
Published in Journal of Economic Growth, Vol. 12 (3), pp 185-234
Constant Interest
Rate Projections without the Curse of Indeterminacy
by Jordi Galí
August 2007, revised February 2008
Published in International Journal of Economic Theory, 2009 vol.
5, 61-68
Stock Market
Volatility and Learning
by K. Adams, Albert Marcet
and J. P. Nicolini
August 2007, revised January 2008
Enforcement Problems
and Secondary Markets
by Fernando Broner, Alberto
Martin and Jaume Ventura
August 2007, revised November 2007
Journal of the European Economic Association Papers and Proceedings,
6 (2-3), 2008, 683-694
Optimal
Contracts with Enforcement Risk
by Nicola Gennaioli
July 2007, revised June 2008
The Sustainable
Debts of Philip II: a Reconstruction of Spain's Fiscal Position, 1560-1598
by Joachim Voth and M. Drelichman
July 2007
Macroeconomic Modeling
for Monetary Policy Evaluation
by Jordi Galí
and M. Gertler
July 2007
Published in Journal of Economic Perspectives, 21
(4), 25-45
Procompetitive
Losses from Trade
by P. Epifani and Gino A. Gancia
June 2007
Overruling and the Instability of
Law
by Nicola Gennaioli and
A. Shleifer
June 2007
Published in Journal of Comparative Economics, Vol. 35, pp 309-328
The Macroeconomic
Effects of Oil Price Shocks: Why are the 2000s so Different from the 1970s?
by Jordi Galí and
O. Blanchard
Data
May 2007, revised October 2008
Wage
Rigidity and Job Creation
by C. Haefke, M. Sonntag and Thijs
van Rens
April 2007, last revised August 2008
The Impact of New Highways on Business
Location: New Evidence from Spain
by Teresa Garcia-Milà and J. García-Montalvo
February 2007
The Evolution of Common Law
by Nicola Gennaioli
and A. Shleifer
February 2007
Published in Journal of Political Economy, Vol. 115, pp 43-68
A
Structural Model of Australia as a Small Open Economy
by Kristoffer Nimark
February 2007 (Reserve Bank of Australia Research Discussion Paper # 2007-01)
Published in Australian Economic Review, 42 (1), pp. 21-41,
2009
Decomposing the
Growth in Residential Land in the United States
by H. Overman, Diego Puga
and M. Turner
January 2007
Comment
on Fischer, Lenza, Pill and Reichlin's "Money and Monetary Policy: the
ECB experience 1999-2006"
by Jordi Galí
January 2007
2006
Interest Rate
Restrictions in a Natural Experiment: Loan Allocation and the Change in
the Usury Laws in 1714
by Joachim Voth and P. Temin
December 2006, revised March 2007
Published in Economic Journal, 2008: 743-758.
Increasing, Returns,
Imperfect Competition and factor Prices
by Gino Gancia
and P. Epifani
The Review of Economics and Statistics, 88, 583-598, 2006
November 2006
Contractual Resolutions
of Financial Distress
by Nicola Gennaioli
and S. Rossi
November 2006, revised July 2009
A One-Sector Neoclassical Growth Model with
Endogenous Retirement
by Kiminory
Matsuyama
November 2006
Free
Flows, Limited Diversitifcation: Explaining the Fall and Rise of Stock
Market Correlations, 1890-2001
by Joachim Voth and D. Quinn
November 2006, revised October 2008
The Effects of
Technology Shocks on Hours and Output: A Robustness Analysis
by Fabio
Canova, D. López-Salido and C. Michelacci
November 2006, revised February 2008
Forthcoming in Journal of Applied Econometrics
Adjustment
to Target Capital, Finance, and Growth
by Antonio Ciccone and
E. Papaioannou
Supplementary
Appendix
November 2006
Red
Tape and Delayed Entry
by Antonio Ciccone
and E. Papaioannou
Supplementary
Appendix
November 2006
Urban Production Externalities
by Antonio Ciccone
Prepared for New Palgrave: A Dictionary of Economics
November 2006
Fat City: The Relationship
between Urban Sprawl and Obesity
by J. Eid, H. Overman, Diego
Puga, and M. Turner
October 2006
Judicial Fact Discretion
by Nicola Gennaioli
and A. Shleifer
October 2006
Journal of Legal Studies, forthcoming 2008
On the Sources of
the Great Moderation
by Jordi Galí
and L. Gambetti
September 2006
Published in American Economic Journal: Macroeconomics, 2009, vol.
1, nº1, 26-57
Comment
on Dewachter and Lyrio's "Learning, Macroeconomic Dynamics, and the
Term Structure of Interest Rates"
by Jordi Galí
August 2006
The
Skill Bias of World Trade
by P. Epifani and Gino A. Gancia
The Economic Journal, 118, 927-960, 2008
The
Structural Dynamics of Output Growth and Inflation: Some International
Evidence
by Fabio Canova,
E. Pappa and L. Gambetti
April, 2006, revised August 2006
Published in The Economic Journal, 117(519), 2007, C167-C191
Comment
on Davig and Leeper's "Fluctuating Macro Policies and the Fiscal Theory"
by Jordi Galí
July 2006
Sovereign
Risk and Secondary Markets
by Fernando Broner, Alberto
Martin and Jaume Ventura
July 2006, revised August 2008
Wake Up and Smell
the Ginseng: The Rise of Incremental Innovation in Low-wage Countries
(with D. Trefler)
by D. Trefler and Diego Puga
July 2006
Trade
Liberalization, Exports and Technology Upgrading: Evidence on the Impact
of MERCOSUR on Argentinean Firms
by Paula Bustos
June 2006, revised November 2008
Appendix
Optimal
Monetary Policy with Real-time Signal Extraction from the Bond Market
by Kristoffer Nimark
June 2006 (ECB Working Paper # 474)
Published in Journal of Monetary Economics (with different
title), vol. 55 (2), pp. 365-382, 2008
Schumpeterian
Technology Shocks (Appendix)
by Fabio
Canova, D. López-Salido and C. Michelacci
May 2006, revised November 2007
Competition
and Trust
by Ramon
Marimon J.
P. Nicolini and P. Teles
April 2006
Labor Markets and
Monetary Policy: A New Keynesian Model with Unemployment
by O. Blanchard and Jordi
Galí
March 2006, revised May 2009
Prior for Growth
Rates, Small Sample Bias and the Effects of Monetary Policy
by Albert Marcet and M.
Jarocinski
March 2006
Heterogeneous
Life-Cycle Profiles, Income Risk and Consumption Inequality
by G. Primiceri and Thijs
van Rens
February 2006, last revised August 2008
Journal of Monetary Economics, 56 (1), pp. 20-39, 2009
Precolonial Centralization and
Institutional Quality in Africa
by Nicola Gennaioli
and I. Rainer
October 2005
Published in Mark Gradstein and Kai Konrad eds, Institutions
and Norms in Economic Development, MIT Press, 2006
2005
Competition,
Human Capital and Income Inequality with Limited Commitment
by Ramon Marimon and V.
Quadrini
December 2005, revised August 2008
The
Elusive Costs and the Immaterial Gains of Fiscal Constraints
by Fabio Canova and E.
Pappa
December 2005
Published in Journal of Public Economics, 90 (8-9), 2006, 1391-1414
Betting
on Hitler -The Value of Political Connections in Nazi Germany
by Joachim Voth and T. Ferguson
December 2005, revised 2006
Published in Quarterly Journal of Economics, 2008: 101-137.
Openness, Government
Size and the Terms of Trade
by P. Epifani and Gino Gancia
November 2005, revised January 2008
The Review of Economics Studies (forthcoming)
The
Impact of Trade on Technology and Skill Upgrading: Evidence from Argentina
by Paula Bustos
November 2005, revised December 2007
Globalization
and Risk Sharing
by Fernando Broner and
Jaume Ventura
October 2005, revised April 2009
Optimal Monetary
and Fiscal Policy in a Currency Union
by Jordi Galí and
T. Monacelli
October 2005
Published in Journal of International Economics, 2008, vol. 76,
116-132
New Evidence
on Inflation Persistence and Price Stickiness in the Euro Area: Implications
for Macro Modelling
by Jordi Galí
and I. Angeloni, L. Aucremanne, M. Ehrmann, A. Levin, F. Smets
September 2005
Published in Journal of the European Economic Association (Papers
and Proceedings) April-May 2006, vol. 4 (2-3), 562-574
Real
Wage Rigidities and the New Keynesian Model
by O. Blanchard and Jordi
Galí
April 2005
Published in Journal of Money, Credit, and Banking, 2007, supplement
to vol. 39, nº1, 35-66
Equities
and Inequality
by Alessandra Bonfiglioli
September 2005
Financial
Integration, Productivity and Capital Accumulation
by Alessandra Bonfiglioli
September 2005, revised July 2006
Identifying Human Capital Externalities:
Theory with Applications
by Antonio Ciccone and
G. Peri
August 2005 (final version)
Published in The Review of Economic Studies, Vol. 73, No. 2, 381-412,
April 2006
The
Overhang Hangover
by J. Imbs and Romain Rancière
June 2005
The Dot-Com Bubble,
the Bush Deficits, and the US Current Account
By A. Kraay and Jaume Ventura
June 2005, revised December 2005
Published in G7 Current Account Imbalances: Sustainability and Adjustment,
R. Clarida (eds.), 2007, The University of Chicago Press
Why England?
Demographic factors, structural change and physical capital accumulation
during the Industrial Revolution
by Joachim
Voth anc N. Voigtländer
June 2005, revised October 2006
Published in Journal of Economic Growth, 2006: 319-361.
On the Role of
Retaliation in Trade Agreem ents
by Alberto Martin
and W. Vergote
June 2005, revised April 2008
Published in Journal of International Economics, 76 (1), 2008,
61-77
Back
to Square One: Identification Issues in DSGE Models
by Fabio Canova and L.
Sala
May 2005, revised September 2006
Published in Journal of Monetary Economics, 56(4), 2009, 431-449
Productivity
Growth and the Exchange Rate Regime: The Role of Financial Development
by Romain Rancière, P. Bacchetta and K. Rogoff
May 2005
Calvo
Pricing and Imperfect Common Knowledge. A Forward-looking Model of Rational
Inflation Inertia /
Technical Appendix
by Kristoffer Nimark
April 2005 (ECB Working Paper Series # 474), revised November 2007
Published (with different title) in Journal of Monetary Economics,
55 (2), pp. 365-382, 2008
A
Note on Common Cycles, Common Trends and Convergence
by Vasco Carvalho, A.C.
Harvey and T. Trimbur
April 2005, revised February 2006
Published in Journal of Business Economics and Statistics, 2007,
vol. 25 (1), pp. 12-20
Human
Capital, the Structure of Production, and Growth
Supplementary Appendix
by Antonio Ciccone and
E. Papaioannou
April 2005, revised August 2007
The Review of Economics and Stastistics (forthcoming)
Monetary
Policy in the Euro Area: Lessons from 5 Years of ECB and Implications
for Turkey
by Fabio Canova and C.
Favero
March 2005
Published in Bacsi, E., Togan, S. and Von Hagen, J. (eds.), 2005, Macroeconomic
Policies for EU Accession
A Global View of Economic
Growth
by Jaume Ventura
March 2005
Published in Handbook of Economic Growth, vol. 1B, Philippe Aghion
and Steven N. Durlauf (eds.), 2005, Elsevier B. V.
Has the Inflation
Process Changed? A Comment
by Jordi Galí
March 2005
2004
Endogenous
Credit Cycles
by Alberto Martin
November 2004, revised August 2008
Systemic
Crises and Growth
by Romain Rancière, A. Tornell and F. Westermann
November 2004
Organizational Capital
and Employment Fluctuations
by Thijs van Rens
November 2004
Why
are Capital Flows so much more Volatile in Emerging than in Developed
Countries?
by Fernando Broner
and R. Rigobon
October 2004
In External Financial Vulnerability and Preventive Policies,
R. Caballero, C. Calderón, and L. Céspedes (eds.), 2006.
Trends in Hours,
Balanced Growth, and the Role of Technology in the Business Cycle
by Jordi Galí
October 2004,
Published in Federal Reserve Bank of St. Louis Review, July/August
2005, 87(4), pp. 459-86.
Financial
Liberalization, Bank Crises and Growth: Assessing the Links
by Alessandra Bonfiglioli and C. Mendicino
October 2004
Credit Constraints, Competition
and Meritocracy
by Nicola Gennaioli
and F. Caselli
September 2004
Published in The Journal of the European Economic Association,
Vol. 3, pp 679-689, April-May, 2005
Modern Perspectives
on Fiscal Stabilization Policies
by Jordi Galí
Published in CESifo Economic Studies, Vol. 51, 4/2005, 587-599
Why do Differences
in the Degree of Fiscal Decentralization Endure?
by
Teresa Garcia-Milà, X. Calsamiglia and T.
J. McGuire
August 2004
Economics and Politics
of Alternative Institutional Reforms
by Nicola Gennaioli and F.
Caselli
August 2004, revised January 2008
Quarterly Journal of Economics, forthcoming 2008
Nominal Debt
as a Burden on Monetary Policy
by Ramon Marimon, J. Díaz-Giménez,
G. Giovannetti and P. Teles
July 2004, revised March 2006
Long-run
Substitutability Between More and Less Educated Workers: Evidence from
US States 1950-1990
by Antonio Ciccone and
G. Peri
June 2004, revised December 2004
Published in The Review of Economics and Statistics, Vol. 87 (4),
November 2005, 652-663
Financial
Repression in a Natural Experiment: Loan Allocation and the Charge in
the Usury Laws in 1714
by Joachim Voth and P.
Temin
June 2004
Should
Higher Education Subsidies Depend on Parental Income?
by R. Dur, C. Teulings and Thijs
van Rens
Summer 2004
Published in Oxford Review of Economic Policy, Vol. 20 (2),
pp. 284-297, 2004
Technology Shocks
and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S.
Data?
by Jordi Galí and
P. Rabanal
May 2004,
Published in NBER Macroeconomics Annual, 2004
Strategic
Delegation in Monetary Unions
by Ramon Marimon, V. V.
Chari and L. E. Jones
April 2004
Published in The Manchester School, 2004, 72(s1), 19-33
What
Explains the Great Moderation in the US? A Structural Analysis
by Fabio Canova
March 2004, revised December 2007
Published in Journal of the European Economic Association, 7(4),
2009, 1-25
Does
it Cost to be Virtuous? The Macroeconomic Effects of Fiscal Constraints
by Fabio Canova
and E. Pappa
March 2004, revised December 2004
Published in Clarida, R., Frankel, J. Giavazzi, F. and K. West (eds.)
NBER International Seminar in Macroeconomics, 11065, 2005
The Speed of the Financial
Revolution: Evidence from Hoare's Bank
by Joachim Voth and P.
Temin
March 2004
Stable
Sunspot Equilibria in a Cash-in-Advance Economy
by Ramon Marimon, G. Evans
and S. Honkapohja
February 2004, revised July 2005
Credit
Rationing and Crowding Out during the Industrial Revolution: Evidence
from Hoare's Bank, 1702-1862
by Joachim Voth and P.
Temin
February 2004, revised June 2004
Published in Explorations in Economic History, 2005: 325-348.
Money and Prices
in Models of Bounded Rationality in High-Inflation Economies
by Albert Marcet
and J. P. Nicolini
February 2004
Published in Review of Economic Dynamics, 8(2), 2005, 452-479
Wealth, Financial
Intermediation and Growth
by Romain Rancière and A. Gaytan
January 2004, revised April 2004
On Payoff Heterogeneity in Games
with Strategic Complementarities
by Antonio
Ciccone and James Costain
Oxford Economic Papers, Vol. 56 (2004), 701-713.
2003
Riding
the South Sea Bubble
by Joachim Voth and P.
Temin
December 2003, revised January 2004
Published in American Economic Review, 2004: 1654-1668
Indicator
Accuracy, Welfare and Monetary Policy
by Kristoffer Nimark
December 2003, revised October 2005
Contracting
in the Shadow of the Law
by Nicola Gennaioli
November 2003, revised January 2006
When in Peril, Retrench:
Testing the Portfolio Channel of Contagion
by Fernando Broner,
G. Gelos and C. Reinhart
October 2003, revised May 2005
Published in Journal of International Economics, 69 (1), 2006,
203-230
Why do Emerging Economies
Borrow Short Term?
by Fernando Broner, G.
Lorenzoni and S. Schmukler
March 2003, revised October 2008
Price
Differentials in Monetary Unions: The Role of Fiscal Policy Appendix
by Fabio Canova and E.
Pappa
2003, revised June 2005
Published in The Economic Journal, 117(520), 2007, 713-737
Trade,
Extent of the Market, and Economic Growth 1960-1996
by Antonio
Ciccone and F. Alcalá
December 2003
Discrete
Devaluations and Multiple Equilibria in a First Generation Model of Currency
Crises
version with appendices
by Fernando Broner
November 2003, revised January 2007
Published in Journal of Monetary Economics, 55 (3), 2008, 592-605
On the Role
of Technology Schocks as a Source of Business Cycles: Some New Evidence
by Jordi Galí
November 2003
Published in Journal of the European Economic Association, vol.
2, issue 2-3 (Papers and Proceedings), 372-380, 2004
Economic
Growth with Bubbles
(figures)
by Jaume Ventura
November 2003
Resistance
to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty:
Comment
by Antonio Ciccone
October 2003 (final version)
Published in The American Economic Review, vol. 94, num. 3, 785-795
June 2004
Horizontal
Innovation in the Theory of Growth and Development
by Gino Gancia and
F.
Zilibotti
July 2003
Published in the Handbook of Economic Growth (Edited by P. Aghion
and S. Durlauf), 2005
Fiscal Federalism
and Regional Integration: Lessons from Spain
by Teresa Garcia-Milà
Published in Federalismo e Integraçao Economica Regional. Desafios
para o Mercosul. The Forum of Federations, 2004
Solidarity
and Fiscal Decentralization
by Teresa Garcia-Milà
and T. McGuire
July 2003, revised October 2003, this version January 2004
Published in Proceedings - 96th Annual Conference on Taxation,
Chicago, Illinois, November 13-15, 2003. Washington DC: National Tax Association,
2004
North-South Trade
and Directed Technical Change
by Gino Gancia and A. Bonfiglioli
May 2003, revised April 2008
Journal of International Economics (forthcoming)
Structural
Changes in the US Economy: Is there a Role for Monetary Policy?
by Fabio Canova and L.
Gambetti
May 2003, revised April 2008
Published in Journal of Economic Dynamics and Control, 33(2), 2009,
477-490
Rule-of-Thumb Consumers
and the Design of Interest Rate Rules
by Jordi Galí, J.
David López-Salido and J. Vallés
May 2003,
Published in The Journal of Money, Credit and Banking, vol. 36,
no. 4, 2004, 739-764
Fiscal Policy and
Monetary Integration in Europe
by Jordi Galí
and R. Perotti
March 2003
Published in Economic Policy, vol. 37, 2003, 533-572
Convergence
in the Trends and Cycles of Euro-Zone Income
by Vasco Carvalho and
A.C. Harvey
March 2003, revised November 2004 (CEPR/EABCN Discussion Paper Series
# 4726)
Published in Journal of Applied Econometrics, 2005, Vol. 20 (2),
pp. 275-289
Similarities
and Convergence of G-7 Cycles
by Fabio Canova, M. Ciccarelli
and E. Ortega
February 2003, revised August 2004
Published in Journal of Monetary Economics, 54(3), 2007, 850-878
Robustness of
the Estimates of the Hybrid New Keynesian Phillips Curve
by Jordi Galí, M.
Gertler and J. D. López-Salido
January 2003,
Published in Journal of Monetary Economics, 2005, vol. 52,
1107-118.
On Rothschild-Stiglitz
as Competitive Pooling
by Alberto Martin
August 2003, revised January 2006
Published in Economic Theory, 31(2), 2007, 371-386
2002
Financial
Development, Financial Fragility, and Growth
by Romain Rancière and N. Loayza
December 2002, revised September 2004
Forthcoming in Journal of Money, Credit and Banking
Incomplete Markets,
Labor Supply, and Capital Accumulation
by Albert Marcet, F. Obiols-Homs,
and P. Weil
October 2002, revised October 2006
Published in Journal of Monetary Economics, 54, 2007, 2621-2635
Bubbles and Capital
Flows
by Jaume Ventura
October 2002, revised January 2004
Understanding
the Effects of Government Spending on Consumption
by Jordi Galí,
J. D. López-Salido and J. Vallés
Published in the Journal of the European Economic Association, March
2007, vol. 5 (1), 227-270
European Inflation
Dynamics: A Correction
by Jordi Galí, M.
Gertler and J. D. López-Salido
September 2002
Inequality over the
Business Cycle: Estimating Income Risk using Micro-Data on Consumption
by G. Primiceri and Thijs
van Rens
July 2002, last revised October 2004
Estimating
Multi-country VAR Models (with M. Ciccarelli)
by Fabio Canova
and M. Ciccarelli
June 2002, revised April 2008
Published in International Economic Review, 50(3), 2009, 929-961
House
prices, Consumption, and Monetary Policy: A Financial Accelerator Approach
by Kosuke Aoki, J. Proudman and G. Vlieghe
June 2002
Growth,
Cycles and Convergence in US Regional Time Series
by Vasco Carvalho and
A.C. Harvey
June 2002, revised August 2002 (Cambridge Working Papers in Economics
#0221)
Published in International Journal of Forecasting, 2005, Vol. 21
(4), pp. 667-686
Fiscal Decentralization
Policies and Sub-national Government Debt in Evolving Federations
by Teresa Garcia-Milà,
T. Goodspeed and T. McGuire
May 2002
Crises and Growth:
A Re-evaluation
by Romain Rancière, A. Tornell and F. Westermann
May 2002, revised September 2003
Dynastic Management
by Nicola Gennaioli
with F. Caselli
April 2002, revised December 2005
Credit Derivatives
in Emerging Markets
by Romain Rancière
April 2002
Monetary Policy
and Exchange Rate Volatility in Small Open Economy
by Jordi Galí and
T. Monacelli
March 2002, revised July 2004
Published in Review of Economic Studies (2005) 72, 707-734. "This
is an electronic version of an article published in the Review of Economic
Studies : complete citation information for the final version of the paper,
as published in the print edition of the Review of Economic Studies, is
available on the Blackwell Synergy online delivery service, accessible
via the journal’s website at http://www.blackwell-synergy.com."
Models
for Converging Economies
by Vasco Carvalho and
A.C. Harvey
March 2002 (Cambridge Working Papers in Economics, # 0216)
Fiscal
Decentralization in Spain: An Asymmetric Transition to Democracy
by Teresa Garcia-Milà
March 2002, forthcoming in Subsidiarity and Solidarity: The Role of
Intergovernmental Fiscal Relations in Maintaining an Effective State in
Diverse Countries, Richard Bird and Robert Ebel editors, Edward Elgar
Trade, Migration
and Regional Unemployment
by Gino Gancia and P.
Epifani
March 2002, revised November 2003
Published in Regional Science and Urban Economics, 35, 2005, 625-644
2001
Trade
and Productivity
by Antonio
Ciccone and F. Alcalá
December 2001, November 2003 (final version),
Published in The Quarterly Journal of Economics, May 2004
Banks, Liquidity
Crises and Economic Growth
by Romain Rancière and A. Gaytan
August 2001, revised May 2003
The
Transmission of US Shocks to Latin America
May 2001, revised April 2004
By Fabio Canova
Published in Journal of Applied Econometrics, 20(2), 2005, 229-251
The HP-Filter
in Cross Country
Comparisons
by Albert Marcet and M.
Ravn
May 2001, revised December 2003
Debt
and Deficit Fluctuations and the Structure of Bond Markets
by Albert Marcet and A.
Scott
May 2001, revised June 2003
Markups, Gaps, and
the Welfare Costs of Economic Fluctuations
by Jordi Galí,
Mark Gertler and J. David López-Salido
Published in The Review of Economic and Statistics, February 2007,
89 (1), 44-59
Determining Underlying
Macroeconomic Fundamentals During Emerging Market Crises: Are Conditions
as Bad as They Seem?
by Fernando Broner and
M. Aguiar
2001, revised August 2004
Published in Journal of Monetary Economics, 53 (4), 2006, 699-724
New Perspectives
on Monetary Policy, Inflation, and the Business Cycle
by Jordi Galí
2001
Published version in: Advances in Economic Theory, edited by:
M. Dewatripont, L. Hansen, and S. Turnovsky, vol. III, 151-197, Cambridge
University Press 2003
European Inflation Dynamics
by Jordi Galí,
M. Gertler and J. D. López-Salido
Published in European Economic Review, vol. 45, nº 7, 1237-1270,
2001. (Erratum,
September 2002)
With a Bang, Not a
Whimper: Pricking Germany's 'Stock Market Bubble' in 1927 and the Slide
into Depression
by Joachim Voth
February 2001, revised April 2002
Published in Journal of Economic History, 2003: 65-99
Comparative Advantage
and the Cross-section of Business Cycles
by A. Kraay and Jaume Ventura
January 2001
Published in Journal of the European Economic Association, 5(6),
1300-1333, 2007
Education, Growth and
Income Inequality
by C. Teulings and Thijs van
Rens
January 2001, last version July 2006
Published in Review of Economics and Statistics, Vol. 90 (1), pp.
89-104, 2008
2000
Factor Prices
and Productivity Growth During the British Industrial Revolution
by Joachim Voth and P. Antràs
November 2000, revised December 2000
Published in Explorations in Economic History, 2003: 52-77
Input Chains and Industrialization
By Antonio Ciccone
November 2000
Review of Economic Studies, Vol. 69, No. 3 (July 2002), 565-587.
Country Portfolios
by A. Kraay, N. Loayza, L. Servén and Jaume
Ventura
July 2000, revised October 2004
Published in Journal of the European Economic Association, 2005
Agglomeration Effects in Europe
By Antonio
Ciccone
August 2000
Published in European Economic Review, Vol. 46 (2002) 213-227.
Optimal Commitment Policy
under Noisy Information
by Kosuke Aoki
March 2000, revised April 2002
The
Macroeconomic Effects of German Unification: Real Adjustments and the
Welfare State
by Fabio Canova and M.
Ravn
March 2000
Published in Review of Economic Dynamics, 3(3), 2000, 423-460
1999
On the Timing of
Balance of Payment Crises: Disaggregated Information and Interest Rate
Policy
by Fernando Broner
December 1999, revised February 2002
On the
Sources of Business Cycles in the G-7
by Fabio Canova and G.
de Nicoló
October 1999, revised March 2000
Published in Journal of International Economics, 59(1), 2003, 77-100
Forecasting
and Turning Point Predictions in a Bayesian Panel VAR Model
by Fabio Canova and M.
Ciccarelli
October 1999
Published in Journal of Econometrics, 120(2), 2004, 327-359
Aggregate
Consequences of Limited Contract Enforceability
by Ramon Marimon,
T. Cooley and V. Quadrini
June 1999, revised October 2003
Published in Journal of Political Economy, 112(4), 2004, 817-847
Efficiency and Equilibrium with
Dynamic Increasing Aggregate Returns due to Demand Complementarities
By Antonio Ciccone
and Kiminori Matsuyama
May 1999
Published in Econometrica, Vol. 67, No. 3 (May, 1999), 499-525.
1998
Monetary Policy
Misspecification in VAR Models
by Fabio Canova and J.
P. Pina
October 1998, revised September 1999
1997
Testing for
Convergence Clubs in Income Per-capita: A Predictive Density Approach
by Fabio Canova
July 1997, revised September 1999
Published in International Economic Review, 45(1), 2004, 49-77
Crossing the
Rio Grande: Migrations, Business Cycles and the Welfare Sate
by M. Ravn and Fabio Canova
July 1997, revised December 1997
Unemployment
vs. Mismatch of Talents: Reconsidering Unemployment Benefits
by Ramon Marimon
and F. Zilibotti
May 1997
Stock Returns,
Term Structure, Inflation and Real Activity: An International Perspective
by Fabio Canova and G.
de Nicoló
January 1997
Published in Macroeconomic Dynamics, 4(3), 2000, 343-372
International
Business Cycles, Financial Markets and Household Production
by Fabio Canova and Á.
Ubide
January 1997
Published in Journal of Economic Dynamics and Control, 22(4), 1998,
545-572
1996
Did Colonization
Matter for Growth? An Empirical Exploration into the Historical Causes
of Africa's Underdevelopment
by G. Bertocchi and Fabio Canova
December 1996
Published in European Economic Review, 46(10), 2002, 1851-1871
Sources and
Propagation of International Cycles: Common Shocks or Transmission?
by Fabio Canova and J.
Marrinan
November 1996
Published in Journal of International Economics, 46(1), 1998, 133-166
with the title Macroeconomic Dynamics Sources and Propagation of Output
Cycles: Common Shocks or Transmission
Testing Calibrated
General Equilibrium Models
by Fabio Canova and E.
Ortega
March 1996
Published in Mariano, R., Schuerman, T. and M. Weeks, Inference Using
Simulation Techniques, Cambridge University Press, 1999
Start-up Costs and Pecuniary Externalities
as Barriers to Economic Development
By Antonio Ciccone and
Kiminori Matsuyama
March 1996
Published in Journal of Development Economics, Vol. 49 (1996),
33-59.
Productivity
and the Density of Economic Activity
By Antonio Ciccone
and Robert Hall
Published in The American Economic Review, Vol. 86, No. 1 (March
1996), 54-70.
1995
Recurrent Hyperinflations
and Learning
by Albert Marcet and P.
Nicolini
November 1995
Published in The American Economic Review, 93(5), 2003, 1476-1498
The Poor Stay Poor: Non-Convergence accross Countries
and Regions
by Fabio Canova and Albert
Marcet
October 1995, revised June 1999
Supply
Side Interventions and Redistribution
by Teresa Garcia-Milà,
Albert Marcet and E. Ventura
July 1995, revised February 2001
1994
Recursive
Contracts
by Albert Marcet and Ramon
Marimon
September 1994, revised October 1998
Solving Nonlinear Rational Expectations Models by Parameterized Expectations:
Convergence to Stationary Solutions
by Albert Marcet and
A. Marshall
March 1994
1991
Long
Run Effects of Business Cycles
by Jordi Galí and
M. L. Hammour
April 1991, revised June 1993
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