NBER Macroeconomics Annual 1990


Book Description

This is the fifth in a series of annuals from the National Bureau of EconomicResearch that are designed to stimulate research on problems in applied economics, to bring frontiertheoretical developments to a wider audience, and to accelerate the interaction between analyticaland empirical research in macroeconomics.Olivier Blanchard and Stanley Fischer are both Professorsof Economics at MIT.Contributors: Ricardo Caballero, Guiseppe Bertola. Andrew Caplin, Robert Hall.Gur Ofer. Abram Bergson, Martin Weitzman. Francesco Giavazzi, Marco Pagano. Allan Drazen, MartinFeldstein. Steven Davis, John Haltiwanger. Katharine Abraham, Robert Townsend. Mark Bils. AndrewOswald, Gary Hansen. Robert Barro, Xavier Sala i Martin. William Brainard, Robert Lucas.










Challenging Time Series


Book Description

This unorthodox book derives and tests a simple theory of economic time series using several well-known empirical economic puzzles, from stock market bubbles to the failure of conventional economic theory, to explain low levels of inflation and unemployment in the US. Professor Stanley develops a new econometric methodology which demonstrates the explanatory power of the behavioral inertia hypothesis and solves the pretest/specification dilemma. He then applies this to important measures of the world's economies including GDP, prices and consumer spending. The behavioral inertia hypothesis claims that inertia and randomness (or 'caprice') are the most important factors in representing and forecasting many economic time series. The development of this new model integrates well-known patterns in economic time series data with well-accepted ideas in contemporary philosophy of science. Academic economists will find this book interesting as it presents a unified approach to economic time series, solves a number of important empirical puzzles and introduces a new econometric methodology. Business and financial analysts will also find it useful because it offers a simple, yet powerful, framework in which to study and predict financial market movements.




International Bibliography of Economics


Book Description

IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences.




IMF Staff papers


Book Description

A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.







The NBER Immigration, Trade, and Labor Markets Data Files


Book Description

The NEER Immigration, Trade, and Labor Markets Data Files were developed from public data sources to facilitate industry-based and area-based research on the effects of international trade and immigration on labor markets in the United States. The industry data files contain shipments, a shipments deflator, value added, employment, payroll, hours, real capital stock, imports, exports, unionization, and immigrant ratios for 450 four-digit (1972 Standard Industrial Classification) manufacturing industries. The primary source of the industry production and factor use data is the Annual Survey of Manufactures. The primary source of the international trade data is the defunct BLS Trade Monitoring System (1972 to 1981). which was extended to earlier and later years using U.S. Commodity Exports and Imports as Related to Output, U.S. Department of Commerce Official Statistics, and the Annual Survey of Manufactures. The primary source of the unionization data is the Current Population Survey (1973 to 1984), which cannot be extended to earlier years. The primary source of the immigrant ratio data is the Census of Population (1960, 1970, and 1980). The area data files contain information on immigrants in the work force by state and major SMSA from the Census of Population 1970 and 1980. The data are available fro. the author on floppy disk (Stata or ASCII format), computer tape (SAS format) or by electronic mail.




Empirical Models and Policy Making


Book Description

This collection, written by highly-placed practitioners and academic economists, provides a picture of how economic modellers and policy makers interact. The book provides international case studies of particular interactions between models and policy making, and argues that the flow of information is two-way.