Economic Research
Economic ResearchTopic - Microeconomics
Reconciling Consumption Inequality with Income Inequality
Vadym Lepetyuk, Christian A. Stoltenberg
April 2013 - Working Paper
Women’s Emancipation through Education: A Macroeconomic Analysis
Fatih Guvenen, Michelle Rendall
April 2013 - Working Paper
Understanding the Long-Run Decline in Interstate Migration
Greg Kaplan, Sam Schulhofer-Wohl
February 2013 - Working Paper
Engineering a Paradox of Thrift Recession
José-Víctor Ríos-Rull, Zhen Huo
December 2012 - Staff Report
Learning-by-Employing: The Value of Commitment Under Uncertainty
Elena Pastorino, Braz Camargo
November 2012 - Staff Report
Do Newspapers Matter? Short-Run and Long-Run Evidence from the Closure of The Cincinnati Post
Sam Schulhofer-Wohl, Miguel Garrido
September 2012 - Staff Report
Careers in Firms: Estimating a Model of Learning, Job Assignment, and Human Capital Acquisition
Elena Pastorino
July 2012 - Staff Report
Supplementary Appendix: Careers in Firms—Estimating a Model of Learning, Job Assignment, and Human Capital Acquisition
Elena Pastorino
July 2012 - Staff Report
New and Larger Costs of Monopoly and Tariffs
James A. Schmitz, Jr.
July 2012 - Staff Report
Financial Frictions and Fluctuations in Volatility
Patrick J. Kehoe, Cristina Arellano, Yan Bai
July 2012 - Staff Report
Heterogeneity and Risk Sharing in Village Economies
Robert Townsend, Sam Schulhofer-Wohl, Pierre-Andre Chiappori, Krislert Samphantharak
July 2012 - Working Paper
Optimal Regulation in the Presence of Reputation Concerns
Andrew Atkeson, Guillermo L. Ordonez, Christian Hellwig
February 2012 - Staff Report
Consumption and Labor Supply with Partial Insurance: An Analytical Framework
Giovanni L. Violante, Jonathan Heathcote, Kjetil Storesletten
February 2012 - Staff Report
Bank Liability Insurance Schemes Before 1865
Warren E. Weber
December 2011 - Working Paper
Innovation and Growth with Financial, and other, Frictions
Randall Wright, Jonathan Chiu, Cesaire Meh
October 2011 - Working Paper
Do Newspapers Matter? Short-Run and Long-Run Evidence from the Closure of The Cincinnati Post
Sam Schulhofer-Wohl, Miguel Garrido
April 2011 - Working Paper
Costly Financial Intermediation in Neoclassical Growth Theory
Edward C. Prescott, Rajnish Mehra, Facundo Piguillem
April 2011 - Working Paper
Intergenerational Redistribution in the Great Recession
Dirk Krueger, José-Víctor Ríos-Rull, Jonathan Heathcote, Andrew Glover
March 2011 - Working Paper
Facts on the Distributions of Earnings, Income, and Wealth in the United States: 2007 Update
Javier Díaz-Giménez, José-Víctor Ríos-Rull, Andrew Glover
March 2011 - Quarterly Review
Inferring Labor Income Risk From Economic Choices: An Indirect Inference Approach
Fatih Guvenen, Anthony Smith
July 2010 - Staff Report
Moving Back Home: Insurance Against Labor Market Risk
Greg Kaplan
March 2010 - Working Paper
The Meaning of Slutsky
The insight of an obscure Soviet statistician—that random processes can form cyclical patterns—has profoundly shaped our understanding of economic booms and recessions.
Joe Mahon, Phil Davies
December 2009 - The Region
The Mechanics of Demand
The Slutsky equation clarifies the complicated effects of price changes.
Joe Mahon
December 2009 - The Region
Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967–2006
Fabrizio Perri, Giovanni L. Violante, Jonathan Heathcote
October 2009 - Staff Report
Risk Sharing, Inequality, and Fertility
Larry E. Jones, Ali Shourideh, Roozbeh Hosseini
September 2009 - Working Paper
Firm Dynamics and Financial Development
Cristina Arellano, Yan Bai, Jing Zhang
July 2009 - Staff Report
Fragility of Reputation and Clustering of Risk-Taking
Guillermo L. Ordonez
July 2009 - Staff Report
Larger Crises, Slower Recoveries: The Asymmetric Effects of Financial Frictions
Guillermo L. Ordonez
July 2009 - Staff Report
Reputation from Nested Activities: The Inefficient Effects of Scapegoating
Guillermo L. Ordonez
July 2009 - Staff Report
Monopoly and the Incentive to Innovate When Adoption Involves Switchover Disruptions
James A. Schmitz, Jr., Thomas J. Holmes, David K. Levine
December 2008 - Staff Report
Technical Notes on Facts and Myths about the Financial Crisis of 2008
Maxim Troshkin
October 2008 - Working Paper
Business Start-Ups and Productive Efficiency
Hakki Yazici
September 2008 - Working Paper
Creative Disruption
Economic theory has been unable to explain the bond between competition and innovation. Until now.
Douglas Clement
September 2008 - The Region
Liquidity in Asset Markets with Search Frictions
Ricardo Lagos, Guillaume Rocheteau
August 2008 - Staff Report
Accounting for Private Information
Pricila Maziero, Laurence Ales
June 2008 - Working Paper
Changes in the Distribution of Family Hours Worked Since 1950
Ellen R. McGrattan, Richard Rogerson
April 2008 - Staff Report
Achieving economies of scale through strategic restructuring: The case of Sparc
How two well-established CDCs in St. Paul, Minn., responded to funding pressures by merging to form a new entity called Sparc.
Michou Kokodoko
January 2008 - Community Dividend
Time to Remodel?
Fed researchers suggest that two core models used by economists are seriously flawed.
Douglas Clement
September 2007 - The Region
Establishment Size Dynamics in the Aggregate Economy
Esteban Rossi-Hansberg, Mark L. J. Wright
November 2006 - Staff Report
Bankruptcy and Collateral in Debt Constrained Markets
Timothy J. Kehoe, David K. Levine
October 2006 - Staff Report
Asset Prices and Liquidity in an Exchange Economy
Ricardo Lagos
May 2006 - Staff Report
Household Heterogeneity and Real Exchange Rates
Narayana Kocherlakota, Luigi Pistaferri
April 2006 - Staff Report
Thomas J. Holmes on Wal-Mart's location strategy
Holmes describes Wal-Mart's location strategy and possible implications for the Ninth District.
David Fettig
March 2006 - fedgazette
Temptation and Self-Control: Some Evidence and Applications
Kevin X. D. Huang, Zheng Liu, Qi Zhu
January 2006 - Staff Report
Liquidity and Insurance for the Unemployed
Iván Werning, Robert Shimer
December 2005 - Staff Report
Opportunity and Social Mobility
Christopher Phelan
September 2005 - Staff Report
Does Income Inequality Lead to Consumption Equality? Evidence and Theory
Fabrizio Perri, Dirk Krueger
June 2005 - Staff Report
Real Effects of Inflation Through the Redistribution of Nominal Wealth
Martin Schneider, Matthias Doepke
February 2005 - Staff Report
Avoiding Significant Monetary Policy Mistakes
Gary H. Stern, Preston J. Miller
December 2004 - Quarterly Review
Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics
Julia Thomas, Aubhik Khan
December 2004 - Staff Report
Rent-Seeking and Innovation
Michele Boldrin, David K. Levine
October 2004 - Staff Report
IER Lawrence Klein Lecture: The Case Against Intellectual Monopoly
Michele Boldrin, David K. Levine
June 2004 - Staff Report
Privatization’s Impact on Private Productivity: The Case of Brazilian Iron Ore
James A. Schmitz, Jr., Arilton Teixeira
June 2004 - Staff Report
Dynamic Optimal Taxation with Private Information
Christopher Sleet, Stefania Albanesi
May 2004 - Discussion Paper
Non-Convexities in Quantitative General Equilibrium Studies of Business Cycles
Edward C. Prescott
November 2003 - Staff Report
Competitive Equilibria With Limited Enforcement
Patrick J. Kehoe, Fabrizio Perri
September 2003 - Staff Report
Entrepreneurship, Frictions, and Wealth
Mariacristina De Nardi, Marco Cagetti
September 2003 - Staff Report
An Evaluation of the Performance of Applied General Equilibrium Models of the Impact of NAFTA
Timothy J. Kehoe
August 2003 - Staff Report
The Economics of Labor Adjustment: Mind the Gap
Jonathan L. Willis, Russell Cooper
July 2003 - Staff Report
Letter to the Editor
Gary Becker
June 2003 - The Region
Wealth Inequality and Intergenerational Links
Mariacristina De Nardi
November 2002 - Staff Report
Updated Facts on the U.S. Distributions of Earnings, Income, and Wealth
Javier Díaz-Giménez, José-Víctor Ríos-Rull, Santiago Budría Rodríguez, Vincenzo Quadrini
July 2002 - Quarterly Review
A Punishing Debate
Does the death penalty deter homicide? New economic studies seek the answer to an age-old question.
Douglas Clement
June 2002 - The Region
Interview with Gary Becker
Nobel prize-winning economist discusses his views on moral hazard in banking, his work on the economics of crime and more.
Douglas Clement
June 2002 - The Region
Inequality and Fairness
Christopher Phelan
April 2002 - Quarterly Review
Perfectly Competitive Innovation
Michele Boldrin, David K. Levine
March 2002 - Staff Report
Factor Saving Innovation
Michele Boldrin, David K. Levine
February 2002 - Staff Report
Learning from Failure
Andreas Blume, April Franco
February 2002 - Staff Report
Optimal Indirect and Capital Taxation
Narayana Kocherlakota, Aleh Tsyvinski, Mikhail Golosov
September 2001 - Staff Report
Looking for Evidence of Time-Inconsistent Preferences in Asset Market Data
Narayana Kocherlakota
July 2001 - Quarterly Review
Specialization and the Skill Premium in the 20th Century
Matthew F. Mitchell
July 2001 - Staff Report
Building Blocks for Barriers to Riches
Narayana Kocherlakota
March 2001 - Staff Report
On the Equilibrium Concept for Overlapping Generations Organizations
Edward C. Prescott, José-Víctor Ríos-Rull
November 2000 - Staff Report
Risky Collateral and Deposit Insurance
Narayana Kocherlakota
August 2000 - Staff Report
Rewarding Sequential Innovators: Prizes, Patents and Buyouts
Gerard Llobet, Hugo Hopenhayn, Matthew F. Mitchell
July 2000 - Staff Report
Improving our Understanding of Productivity
Alan Greenspan
June 2000 - The Region
Knowledge Exchange, Matching, and Agglomeration
Marcus Berliant, Ping Wang, Robert R. Reed III
June 2000 - Discussion Paper
Old Ideas at Work in the New Economy
David Runkle, Minneapolis Fed research officer, suggests that a close look at U.S. microeconomic events portends further potential for the country's macroeconomy.
David E. Runkle
June 2000 - The Region
Some Fresh Perspectives on Price-Support Policies
Preston J. Miller
June 2000 - Staff Report
Threats to Industry Survival and Labor Productivity: World Iron-Ore Markets in the 1980's
James A. Schmitz, Jr., Jose E. Galdon-Sanchez
June 2000 - Staff Report
Learning to Be Unpredictable: An Experimental Study
Arijit Mukherji, David E. Runkle
April 2000 - Quarterly Review
Maintenance and Repair: Too Big to Ignore
Ellen R. McGrattan, James A. Schmitz, Jr.
September 1999 - Quarterly Review
Optimal Monetary Impulse-Response Functions in a Matching Model
Neil Wallace, Brett Katzman, John Kennan
September 1999 - Working Paper
Efficient Allocations with Hidden Income and Hidden Storage
Narayana Kocherlakota, Harold L. Cole
June 1999 - Staff Report
Risk Sharing: Private Insurance Markets or Redistributive Taxes?
Fabrizio Perri, Dirk Krueger
June 1999 - Staff Report
A Recursive Formulation for Repeated Agency with History Dependence
Christopher Phelan, Ana Fernandes
March 1999 - Staff Report
Entrepreneurial Moral Hazard and Bank Monitoring: A Model of the Credit Channel
Javier Suarez, Rafael Repullo
March 1999 - Discussion Paper
Original Version: Sequential Equilibria in a Ramsey Tax Model
Christopher Phelan, Ennio Stacchetti
February 1999 - Staff Report
Sequential Equilibria in a Ramsey Tax Model
Christopher Phelan, Ennio Stacchetti
February 1999 - Staff Report
Efficient Non-contractible Investments
Andrew Postlewaite, George J. Mailath, Harold L. Cole
August 1998 - Staff Report
The Existence of Rational Expectations Equilibrium: A Retrospective
Beth Allen, James S. Jordan
August 1998 - Staff Report
Lessons From a Laissez-Faire Payments System: The Suffolk Banking System (1825–58)
Arthur J. Rolnick, Warren E. Weber, Bruce D. Smith
July 1998 - Quarterly Review
The Technological Role of Fiat Money
Narayana Kocherlakota
July 1998 - Quarterly Review
Individual and Aggregate Real Balances in a Random-Matching Model
Ruilin Zhou
January 1998 - Staff Report
Macroeconomics With Frictions
S. Rao Aiyagari
July 1997 - Quarterly Review
Marital Risk and Capital Accumulation
José-Víctor Ríos-Rull, Luis Cubeddu
July 1997 - Staff Report
On the Size of U.S. Government: Political Economy in the Neoclassical Growth Model
José-Víctor Ríos-Rull, Per Krusell
July 1997 - Staff Report
Dimensions of Inequality: Facts on the U.S. Distributions of Earnings, Income, and Wealth
Javier Díaz-Giménez, José-Víctor Ríos-Rull, Vincenzo Quadrini
April 1997 - Quarterly Review
Understanding the U.S. Distribution of Wealth
José-Víctor Ríos-Rull, Vincenzo Quadrini
April 1997 - Quarterly Review
Cooperative Theory with Incomplete Information
Beth Allen
December 1996 - Staff Report
Implementation Theory with Incomplete Information
Beth Allen
December 1996 - Staff Report
Step-by-Step Migration to Efficient Agglomerations
Thomas J. Holmes
November 1996 - Staff Report
Money is Memory
Narayana Kocherlakota
October 1996 - Staff Report
Are Checks Overused?
Kirstin E. Wells
September 1996 - Quarterly Review
On the Political Economy of Income Redistribution and Crime
Antonio Merlo, Ayse Imrohoroglu, Peter Rupert
September 1996 - Staff Report
Chaos, Sunspots, and Automatic Stabilizers
Lawrence J. Christiano, Sharon G. Harrison
August 1996 - Staff Report
Class Systems and the Enforcement of Social Norms
Andrew Postlewaite, George J. Mailath, Harold L. Cole
July 1996 - Staff Report
Why Should Older People Invest Less in Stocks Than Younger People?
Narayana Kocherlakota, Ravi Jagannathan
July 1996 - Quarterly Review
Valuation Equilibria With Clubs
Edward C. Prescott, Harold L. Cole
March 1996 - Staff Report
How Prescribed Policy Can Mislead When Data Are Defective: A Follow-up to Srinivasan (1994) Using General Equilibrium
Erinç Yeldan, Jean Mercenier
February 1996 - Staff Report
Tobin's q and Asset Returns: Implications for Business Cycle Analysis
Lawrence J. Christiano, Jonas D. M. Fisher
November 1995 - Staff Report
Incorporating Concern for Relative Wealth Into Economic Models
Andrew Postlewaite, George J. Mailath, Harold L. Cole
July 1995 - Quarterly Review
An Equilibrium Model of the Business Cycle With Household Production and Fiscal Policy
Ellen R. McGrattan, Randall Wright, Richard Rogerson
May 1995 - Staff Report
On Sunk Costs and Trade Liberalization in Applied General Equilibrium
Jean Mercenier, Nicolas Schmitt
March 1995 - Staff Report
Capacity Precommitment as a Barrier to Entry: A Bertrand-Edgeworth Approach
Beth Allen, Dan Kovenock, Raymond Deneckere, Tom Faith
February 1995 - Staff Report
A Contribution to the Theory of Pork Barrel Spending
V. V. Chari, Harold L. Cole
January 1995 - Staff Report
Estimating Substitution Elasticities in Household Production Models
Peter Rupert, Randall Wright, Richard Rogerson
December 1994 - Staff Report
Nonuniqueness of Solutions in Applied General Equilibrium Models With Scale Economies and Imperfect Competition
Jean Mercenier
October 1994 - Staff Report
Macroeconomics With Frictions
S. Rao Aiyagari
July 1994 - Quarterly Review
Dynamic Bargaining Theory
Melvyn Coles, Randall Wright
June 1994 - Staff Report
Two-Sided Search
Kenneth Burdett, Randall Wright
April 1994 - Staff Report
Explaining Financial Market Facts: The Importance of Incomplete Markets and Transaction Costs
S. Rao Aiyagari
December 1993 - Quarterly Review
Household Production and Taxation in the Stochastic Growth Model
Ellen R. McGrattan, Randall Wright, Richard Rogerson
December 1993 - Staff Report
On the Emergence of Parliamentary Government: The Role of Private Information
Edward J. Green
December 1993 - Quarterly Review
Why Are Representative Democracies Fiscally Irresponsible?
V. V. Chari, Harold L. Cole
August 1993 - Staff Report
Shadowing the Shadows
The Shadow Open Market Committee has persistently, and faithfully, trailed its Federal Reserve namesake for 20 years
David Fettig
June 1993 - The Region
Banking in Computable General Equilibrium Economies: Technical Appendices I and II
Fernando Alvarez, Terry J. Fitzgerald
October 1992 - Staff Report
How the U.S. Treasury Should Auction Its Debt
V. V. Chari, Robert J. Weber
September 1992 - Quarterly Review
Banking in Computable General Equilibrium Economies
Edward C. Prescott, Fernando Alvarez, Javier Díaz-Giménez, Terry J. Fitzgerald
March 1992 - Staff Report
International Real Business Cycles
Patrick J. Kehoe, David K. Backus, Finn E. Kydland
November 1991 - Staff Report
Contracts, Constraints, and Consumption
Edward J. Green, Soo Nam Oh
August 1991 - Staff Report
Eliciting Traders’ Knowledge in “Frictionless” Asset Market
Edward J. Green
August 1991 - Staff Report
A Reconsideration of the Problem of Social Cost: Free Riders and Monopolists
V. V. Chari, Larry E. Jones
July 1991 - Staff Report
Barter and Monetary Exchange Under Private Information
Randall Wright, Stephen D. Williamson
June 1991 - Staff Report
Why Is Automobile Insurance in Philadelphia So Damn Expensive?
Eric Smith, Randall Wright
April 1991 - Staff Report
A Note on Labor Contracts With Private Information and Household Production
Ed Nosal, Randall Wright, Richard Rogerson
January 1991 - Staff Report
Homework in Macroeconomics: Household Production and Aggregate Fluctuations
Jess Benhabib, Randall Wright, Richard Rogerson
January 1991 - Staff Report
Indivisibilities, Lotteries, and Sunspot Equilibria
Karl Shell, Randall Wright
January 1991 - Staff Report
A Suggestion for Oversimplifying the Theory of Money
Neil Wallace
December 1990 - Quarterly Review
The Permanent Income Hypothesis Revisited
Lawrence J. Christiano, David A. Marshall, Martin Eichenbaum
January 1990 - Staff Report
The Firm and the Plant in General Equilibrium Theory
Edward C. Prescott, Andreas Hornstein
November 1989 - Staff Report
A Contribution to the Pure Theory of Money
Nobuhiro Kiyotaki, Randall Wright
August 1989 - Staff Report
Bank Failures, Financial Restrictions, and Aggregate Fluctuations: Canada and the United States, 1870–1913
Stephen D. Williamson
July 1989 - Quarterly Review
Banking Without Deposit Insurance or Bank Panics: Lessons From a Model of the U.S. National Banking System
V. V. Chari
July 1989 - Quarterly Review
Sustainable Plans
Patrick J. Kehoe, V. V. Chari
June 1989 - Staff Report
Determinacy of Equilibria in Dynamic Models With Finitely Many Consumers
Timothy J. Kehoe, David K. Levine, Paul M. Romer
March 1989 - Staff Report
Economic Fluctuations Without Shocks to Fundamentals; Or, Does the Stock Market Dance to Its Own Music?
S. Rao Aiyagari
December 1988 - Quarterly Review
Time Consistency and Optimal Policy Design
V. V. Chari
September 1988 - Quarterly Review
Can There Be Short-Period Deterministic Cycles When People Are Long Lived?
S. Rao Aiyagari
May 1988 - Staff Report
Why Is Consumption Less Volatile Than Income?
Lawrence J. Christiano
September 1987 - Quarterly Review
Recent Developments in Modeling Financial Intermediation
Stephen D. Williamson
July 1987 - Quarterly Review
Intergenerational Linkages and Government Budget Policies
S. Rao Aiyagari
April 1987 - Quarterly Review
Is Consumption Insufficiently Sensitive to Innovations in Income
Lawrence J. Christiano
January 1987 - Staff Report
Modern Business Cycle Analysis: A Guide to the Prescott-Summers Debate
Rodolfo E. Manuelli
September 1986 - Quarterly Review
Response to a Skeptic
Edward C. Prescott
September 1986 - Quarterly Review
Some Skeptical Observations on Real Business Cycle Theory
Lawrence H. Summers
September 1986 - Quarterly Review
Theory Ahead of Business Cycle Measurement
Edward C. Prescott
September 1986 - Quarterly Review
Solution of Linear-Quadratic-Gaussian Dynamic Games Using Variational Methods
William Roberds
July 1986 - Staff Report
Probable Future Competition in Banking Antitrust Determination: Research Findings
Michael J. Stutzer
July 1984 - Quarterly Review
Should Currency Be Priced Like Cars?
Richard M. Todd, Thomas M. Supel
April 1984 - Quarterly Review
A Legal Restrictions Theory of the Demand for "Money" and the Role of Monetary Policy
Neil Wallace
December 1983 - Quarterly Review
Integrating Micro and Macroeconomics: An Application to Credit Controls
Neil Wallace
September 1980 - Quarterly Review
Rational Expectations and the Reconstruction of Macroeconomics
Thomas J. Sargent
July 1980 - Quarterly Review
After Keynesian Macroeconomics
Robert E. Lucas, Jr., Thomas J. Sargent
April 1979 - Quarterly Review
Inflation: An Extreme View
John H. Kareken
December 1978 - Quarterly Review
TIP: The Wrong Way to Fight Inflation
Preston J. Miller
April 1978 - Quarterly Review
Looking for Evidence of Noncompetitive Behavior in Minnesota's Banking Industry
Arthur J. Rolnick, David S. Dahl, Stanley L. Graham
September 1977 - Quarterly Review
