Tag Archives: Yuriy Gorodnichenko

What is at stake in Crimea?

From Yuriy Gorodnichenko and Gerard Roland: The speed at which events in Ukraine are unfolding is astounding. This column argues that the real goal of Russian President Putin is to make the February 2014 changes look like a failure. Root … Continue reading

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Ukraine: A battle for the future of Europe

From Yuriy Gorodnichenko: Squeezed between European super powers, Ukraine is no stranger to tensions, but it has been a remarkably peaceful country in the modern history. The recent waves of protests and government-sponsored violence moved Ukraine to the brink of … Continue reading

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Macroeconomic Determinants of Retirement Timing

From Yuriy Gorodnichenko, Jae Song, and Dmitriy Stolyarov: We analyze lifetime earnings histories of white males during 1960-2010 and categorize the labor force status of every worker as either working full-time, partially retired or fully retired. We find that the fraction of … Continue reading

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Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence

From Olivier Coibion, Yuriy Gorodnichenko, Dmitri Koustas: The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped … Continue reading

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Are Sticky Prices Costly? Evidence From The Stock Market

A new paper from Yuriy Gorodnichenco and Michael Weber: ABSTRACT: We propose a simple framework to assess the costs of nominal price adjustment using stock market returns. We document that, after monetary policy announcements, the conditional volatility rises more for … Continue reading

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An argument for studying macroeconomics

Rather than answering million or billion dollar questions like microeconomists, macroeconomists try to answer trillion dollar questions. E.G. Why is actual output below potential output & when (or will) it come back to trend? From Yuriy Gorodnichenko (both the idea … Continue reading

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Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Here’s a paper from some of my favorite macroeconomists on the link between  inequality and monetary policy. ABSTRACT: We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary … Continue reading

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Output Spillovers from Fiscal Policy

From Alan Auerbach and Yuriy Gorodnichenko:  It’s tough out there for policymakers seeking to stabilize economies, and shocks from abroad aren’t helping. This column argues that for countries hit by recession, fiscal stimulus in another country might significantly stimulate demand … Continue reading

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Optimal Inflation Rates – the Costs & Benefits of Inflation

I’m giving a lecture today on inflation to prep Econ 191 students for Yuriy Gorodnichenko‘s paper (ungated) on Optimal Inflation Rates next week. I compiled a list of some costs and benefits of inflation from a few sources: an old Larry … Continue reading

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