FX Diebold,
GD Rudebusch… - Journal of Econometrics, 2006 - Elsevier
SB Aruoba, J Fernandez-Villaverde… - Journal of Economic …, 2006 - Elsevier
SB Aruoba, FX Diebold… - Journal of Business and Economic Statistics, 2009 - ASA
Page 1. Real-Time Measurement of Business Conditions S. Bora ˘gan ARUOBA
Department of Economics, University of Maryland, College Park, MD 20742
(aruoba@econ.umd.edu) Francis X. DIEBOLD Departments of Economics ...
SB Aruoba - Journal of Money, Credit and Banking, 2008 - Wiley Online Library
Skip to Main Content. ...
SB Aruoba, C Waller, R Wright… - 2007 - nber.org
Abstract We continue the integration of modern monetary theory and mainstream macro.
First, we pursue price taking as alternative to bargaining. Second, we add firms, capital and
labor markets. Compared to previous attempts at this integration, our models have rich ...
SB Aruoba… - Journal of Money, Credit and Banking, 2003 - JSTOR
Page 1. S. BORAGAN ARUOBA RANDALL WRIGHT Search, Money, and Capital: A
Neoclassical Dichotomy Recent work has reduced the gap between search-based
monetary theory and mainstream macroeconomics by incorporating ...
S Boragan Aruoba,
G Rocheteau… - Journal of Monetary …, 2007 - Elsevier
Search models of monetary exchange have typically relied on Nash [1950. The bargaining
problem. Econometrica 18, 155–162] bargaining, or strategic games that yield an equivalent
outcome, to determine the terms of trade. By considering alternative axiomatic bargaining ...
Abstract: We estimate a model with latent factors that summarize the yield curve (namely,
level, slope, and curvature) as well as observable macroeconomic variables (real activity,
inflation, and the stance of monetary policy). Our goal is to provide a characterization of ...
SB Aruoba… - 2009 - nber.org
We develop a two-sector monetary model with a centralized and decentralized market.
Activities in the centralized market resemble those in a standard New Keynesian economy
with price rigidities. In the decentralized market agents engage in bilateral exchanges for ...
SB Aruoba… - FRB International Finance Discussion …, 2006 - papers.ssrn.com
Abstract: We study optimal fiscal and monetary policy in an environment where explicit
frictions give rise to valued money, making money essential in the sense that it expands the
set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier ...
SB Aruoba, CJ Waller… - Journal of Monetary Economics, 2011 - papers.ssrn.com
Page 1. working paper FEDERAL RESERVE BANK OF CLEVELAND 07 14 Money
and Capital by S. Borağan Aruoba, Christopher J. Waller, and Randall Wright Page
2. Working papers of the Federal Reserve Bank of Cleveland ...
SB Aruoba - 2005 - papers.ssrn.com
Abstract: We document the empirical properties of revisions to major macroeconomic
variables in the United States. Our findings suggest that they do not satisfy simple desirable
statistical properties. In particular, we find that these revisions do not have a zero mean, ...
SB Aruoba… - 2010 - nber.org
We sketch a framework for monitoring macroeconomic activity in real-time and push it in new
directions. In particular, we focus not only on real activity, which has received most attention
to date, but also on inflation and its interaction with real activity. As for the recent recession ...
SB Aruoba… - Journal of Economic Theory, 2010 - Elsevier
SB Aruoba, FX Diebold… - 2008 - nber.org
The research activities of the NBER are funded by grants from federal research agencies, by
private foundations, and by generous donations from our corporate associates and from
private individuals. The NBER is a non-profit, 501 (c)(3) organization. For information on ...
SB Aruoba… - Manuscript, University of Maryland, 2008 - econweb.umd.edu
Abstract In existing models of jointly-optimal fiscal and monetary policy, the monetary
aspects of the economic environment have little to do with capital taxation prescriptions.
Instead, the capital-taxation prescriptions of the underlying purely real economy in such ...
SB Aruoba - 2004 - papers.ssrn.com
Abstract: Using recent empirical results regarding the statistical properties of
macroeconomic data revisions, we study the effects of the presence of data revisions, or
data revisions in a general equilibrium framework. We find that data uncertainty creates a ...
SB Aruoba, FX Diebold, MA Kose… - 2010 - nber.org
We propose and implement a framework for characterizing and monitoring the global
business cycle. Our framework utilizes high-frequency data, allows us to account for a
potentially large amount of missing observations, and is designed to facilitate the updating ...
SB Aruoba - International Economic Review, 2011 - Wiley Online Library
Skip to Main Content. ...
CE Alper… - Review of Middle East Economics and …, 2004 - Taylor & Francis
When holiday variation is present so that the dates of certain holidays change from year to
year, the relatively automatic seasonal adjustment procedures may fail to extract the
seasonal component from a series since the holiday effects are not confined to that ...
SB Aruoba… - University of Maryland, 2007 - nber.org
Abstract We develop a search-based monetary dynamic stochastic equilibrium (DSGE)
model with nominal rigidities by introducing the fundamental frictions that generate money
demand in an otherwise standard New-Keynesian DSGE model. We use Bayesian ...
CE Alper… - Istanbul Stock Exchange Review, 2001 - econweb.umd.edu
Abstract This paper analyzes the effects of regular seasonal fluctuations of macroeconomic
variables in Turkey due to the religious events according to the Hegirian calendar in monthly
frequency. Conventional deterministic deseasonalization techniques are applied to the ...
[CITATION] oOptimal Fiscal and Monetary Policy when Money is Essential, pJournal of Economic Theory, forthcoming
SB Aruoba… - 2010
[CITATION] A Factor Representation of the Macroeconomy and the Yield Curve
F Diebold, GD Rudebusch… - manuscript, Federal Reserve Bank of San …, 2003
SB Aruoba, MA Davis… - 2011 - leylek.ku.edu.tr
Abstract We study the effects of inflation in a monetary model extended to incorporate both
household production and endogenous investment in housing. As long as cash is used in
market transactions, inflation is a tax on market activity, but not on home production. ...
[CITATION] Bargaining in Monetary Economies
SB Aruoba, G Rocheteau… - Journal of Monetary Economics, forthcoming, 2007
[CITATION] The Macroeconomy and the Yield Curve: a Dynamic Latent Factor Approach,” Forthcoming Journal of Econometrics
FX Diebold, GD Rudebusch… - 2004
[CITATION] Real Time Measurement of
SB Aruoba, FX Diebold… - 2009
[CITATION] nInformal Sector
SB Aruoba - Government Policy and Institutions, o manuscript, 2009
[CITATION] mMoney and Capital: A Quantitative Analysis, n University of Maryland manuscript
SB Aruoba, C Waller… - 2009
SB Aruoba… - 2010 - ssc.upenn.edu
In this note we extend the search-based monetary DSGE model studied in Aruoba and
Schorfheide (2010) and introduce liquid capital claims. More specifically, buyers in the
decentralized market can use a fraction of their capital stock holdings in addition to money ...
[CITATION] Chiara Scotti (2009),“Real-Time Measurement of Business Conditions,”
SB Aruoba… - Journal of Business and Economic Statistics
SB Aruoba - 2004 Meeting Papers, 2004 - ideas.repec.org
In this paper we document the properties of revisions to macroeconomic data in the US and
analyze the implications of these properties in the context of a general equilibrium model.
We find that the revisions to major macroeconomic variables such as output and ...
SB Aruoba… - federalreserve.gov
Abstract: We study optimal fiscal and monetary policy in an environment where explicit
frictions give rise to valued money, making money essential in the sense that it expands the
set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier ...
SB Aruoba… - 2003 - papers.ssrn.com
Abstract: Recent work has reduced the gap between search-based monetary theory and
mainstream macroeconomics by incorporating into the search model some centralized
markets as well as some decentralized markets where money is essential. This paper ...
CE Alper… - Review of Middle East Economics and …, 2005 - degruyter.com
When holiday variation is present so that the dates of certain holidays change from year to
year, the relatively automatic seasonal adjustment procedures may fail to extract the
seasonal component from a series since the holiday effects are not confined to that ...
SB Aruoba… - 2010 - Citeseer
This Appendix provides detailed derivations of the equilibrium conditions presented in the
main text. Moreover, we are presenting further empirical results that are not reported in the
published paper. Additional details can found in Aruoba and Schorfheide (2009).
S Boragan Aruoba, CJ Waller… - Journal of Monetary Economics, 2011 - Elsevier
Abstract The effects of money (anticipated inflation) on capital formation is a classic issue in
macroeconomics. Previous papers adopt reduced-form approaches, putting money in the
utility function, or imposing cash in advance, but using otherwise frictionless models. We ...
[CITATION] APPLICATIONS Real-time measurement of business conditions 600 610: A
S Boragan Aruoba, FX Diebold… - Quality Control and Applied Statistics, 2010
M Terrones, SB Aruoba, FX Diebold… - 2011 - books.google.com
We propose and implement a framework for characterizing and monitoring the global
business cycle. Our framework utilizes high-frequency data, allows us to account for a
potentially large amount of missing observations, and is designed to facilitate the updating ...
SB Aruoba - 2004 - repository.upenn.edu
Abstract In the first chapter we document the empirical properties of revisions to major
macroeconomic variables in the US, over the period 1966-2000. We find that these revisions
do not have a zero mean, which indicates that the initial announcements by statistical ...
V Prakash, R Becker, U Fischbacher, SB Aruoba… - 1970 - en.scientificcommons.org
M Kose, SB Aruoba, M Terrones… - 2011 - papers.ssrn.com
Abstract: We propose and implement a framework for characterizing and monitoring the
global business cycle. Our framework utilizes high-frequency data, allows us to account for a
potentially large amount of missing observations, and is designed to facilitate the updating ...
SB Aruoba, FX Diebold, J Nalewaik, F Schorfheide… - 2011 - nber.org
Two often-divergent US GDP estimates are available, a widely-used expenditure side
version, GDPE, and a much less widely-used income-side version GDPI. We propose and
explore a" forecast combination" approach to combining them. We then put the theory to ...
[CITATION] The Macroeconomy and the Yield Curve: A Nonstructural Analysis
SB Aruoba… - 2011 - econ.umd.edu
Abstract This paper considers whether lottery betting is best explained by risk-love or an
alternative to the expected utility model, namely, the overweighting of small odds. To the
best of our knowledge, we are the first to use the common setting of state lottery betting to ...
SB Aruoba, MA Davis… - 2011 - sapir.tau.ac.il
Abstract We study the effects of inflation in a New Monetarist model extended to incorporate
household production. As long as cash is used in some transactions, inflation is a tax on
market activity; it is never a tax on home production. Inflation thus causes substitution out ...
SB Aruoba, FX Diebold… - federalreserve.gov
Abstract: We construct a framework for measuring economic activity in real time (eg, minute-
by-minute), using a variety of stock and flow data observed at mixed frequencies.
Specifically, we propose a dynamic factor model that permits exact filtering, and we ...
Abstract: We estimate a model with latent factors that summarize the yield curve (namely,
level, slope, and curvature) as well as observable macroeconomic variables (real activity,
inflation, and the stance of monetary policy). Our goal is to provide a characterization of ...
SB Aruoba, FX Diebold, MA Kose… - 2010 - nber.org
Abstract*** PRELIMINARY DRAFT–FOR NBER ISOM DISTRIBUTION ONLY*** We propose
and implement a framework for characterizing and monitoring the global business cycle in
real-time. Our framework utilizes high-frequency data, allows us to account for a ...
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