Tag Archives: Yuriy Gorodnichenko

How to restart lending in Ukraine despite unfavorable macroeconomic and legal conditions

VoxUkraine.

Posted in Uncategorized | Tagged | Leave a comment

Credit Supply in the Great Recession

1. Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data by Olivier Coibion, Marianna Kudlyak, Yuriy Gorodnichenko, John Mondragon One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand … Continue reading

Posted in Uncategorized | Tagged , , , , , | Leave a comment

Linkages and Economic Development

From Dominick Bartelme and Yuriy Gorodnichenko: Specialization is a powerful source of productivity gains but how production net- works at the industry level are related to aggregate productivity in the data is an open question. We construct a database of input-output … Continue reading

Posted in Uncategorized | Tagged , , , , , | Leave a comment

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

Posted in Uncategorized | Tagged , , , | Leave a comment

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

Posted in Uncategorized | Tagged , , | 1 Comment

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

Posted in Uncategorized | Tagged , , , , | Leave a comment

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

Posted in Uncategorized | Tagged , , , , , , | 1 Comment

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

Posted in Uncategorized | Tagged , , , , | Leave a comment

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

Posted in Uncategorized | Tagged , , , | 1 Comment

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

Posted in Uncategorized | Tagged , , , , , , | 1 Comment