Search Results - "Ohanian, Lee E"

The Economic Crisis from a Neoclassical Perspective by Ohanian, Lee E.

“…This paper assesses the 2007–2009 recession using neoclassical business cycle theory. I find that the 2007–2009 U.S. recession differs substantially from other…”
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Aggregate hours worked in OECD countries: New measurement and implications for business cycles by Ohanian, Lee E., Raffo, Andrea

“…We build a dataset of quarterly hours worked for 14 OECD countries. We document that hours are as volatile as output, that a large fraction of labor adjustment…”
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New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis by Cole, Harold L., Ohanian, Lee E.

“…There are two striking aspects of the recovery from the Great Depression in the United States: the recovery was very weak, and real wages in several sectors…”
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DOES NEOCLASSICAL THEORY ACCOUNT FOR THE EFFECTS OF BIG FISCAL SHOCKS? EVIDENCE FROM WORLD WAR II by McGrattan, Ellen R., Ohanian, Lee E.

“…Much debate surrounds the usefulness of the neoclassical growth model for assessing the macroeconomic impact of fiscal shocks. We test the theory using data…”
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Can’t Pay or Won’t Pay? Unemployment, Negative Equity, and Strategic Default by Gerardi, Kristopher, Herkenhoff, Kyle F., Ohanian, Lee E., Willen, Paul S.

“…This paper uses new data from the PSID to quantify the relative importance of negative equity versus ability to pay, in driving mortgage defaults between 2009…”
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Revisiting capital-skill complementarity, inequality, and labor share by Ohanian, Lee E., Orak, Musa, Shen, Shihan

“…This paper analyzes the quantitative contribution of capital-skill complementarity in accounting for rising wage inequality, as in Krusell, Ohanian, Rios-Rull,…”
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Tarnishing the golden and empire states: Land-use restrictions and the U.S. economic slowdown by Herkenhoff, Kyle F., Ohanian, Lee E., Prescott, Edward C.

“…This paper studies the impact of state-level land-use restrictions on U.S. economic activity, focusing on how these restrictions have depressed macroeconomic…”
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The Great Recession in the Shadow of the Great Depression: A Review Essay on Hall of Mirrors: The Great Depression, the Great Recession, and the Uses and Misuses of History, by Barry Eichengreen by Ohanian, Lee E.

“…This essay compares the Great Depression to the Great Recession in light of Barry Eichengreen’s new book Hall of Mirrors. Eichengreen discusses these two…”
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Capital Flows and Macroeconomic Performance: Lessons from the Golden Era of International Finance by Ohanian, Lee E., Wright, Mark L. J.

“…Where does international capital flow? Robert E Lucas Jr (1990) asked why capital did not flow from rich countries to poor, implicitly assuming that returns to…”
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Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America by Ohanian, Lee E., Restrepo-Echavarria, Paulina, Wright, Mark L. J.

“…After World War II, international capital flowed into slow-growing Latin America rather than fast-growing Asia. This is surprising as, everything else equal,…”
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The impact of foreclosure delay on U.S. employment by Herkenhoff, Kyle F., Ohanian, Lee E.

“…This paper studies the impact of foreclosure delay on the U.S. labor market. We first document that the average time required to initiate and complete a home…”
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The impact of monetary policy in the midst of big shocks by Ohanian, Lee E.

“…This paper studies the impact of Federal Reserve policies that created the largest deviations from price stability during the Fed׳s first 100 years: the…”
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What – or who – started the great depression? by Ohanian, Lee E.

“…Herbert Hoover. I develop a theory of labor market failure for the Depression based on Hoover's industrial labor program that provided industry with protection…”
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Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis by Krusell, Per, Ohanian, Lee E., Ríos-Rull, José-Víctor, Violante, Giovanni L.

“…The supply and price of skilled labor relative to unskilled labor have changed dramatically over the postwar period. The relative quantity of skilled labor has…”
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Understanding Economic Crises: The Great Depression and the 2008 Recession by OHANIAN, LEE E.

“…Economic crises, involving large and persistent declines in output and employment, are puzzles, particularly in developed countries with economies that…”
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Postwar British Economic Growth and the Legacy of Keynes by Cooley, Thomas F., Ohanian, Lee E.

“…The policies used by Britain to finance World War II represented a dramatic departure from the policies used to finance earlier wars and were very different…”
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Why Did Productivity Fall So Much during the Great Depression? by Ohanian, Lee E.

“…Stanley Engerman has made contributions to many areas of economics, including analyses of long run productivity change. This paper honoring Engerman's…”
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Discussion of goodfriend by Ohanian, Lee E.

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The mismeasure of inequality by Hagopian, Kip, Ohanian, Lee E

“…[...]a 2006 study, "Economic Inequality Through the Prisms of Income and Consumption," conducted by the Bureau of Labor Statistics (bls) found that in 2001,…”
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Why have business cycle fluctuations become less volatile? by Arias, Andres, Hansen, Gary D., Ohanian, Lee E.

“…This paper shows that a standard Real Business Cycle model driven by productivity shocks can successfully account for the 50% decline in cyclical volatility of…”
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