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User profiles for author:"Alisdair McKay"

Alisdair McKay

Boston University
Verified email at bu.edu
Cited by 37

The brevity and violence of contractions and expansions

[PDF] from bu.edu
Full text - MIT Libraries
A McKay… - Journal of Monetary Economics, 2008 - Elsevier
Early studies of business cycles argued that contractions in economic activity were briefer
(shorter) and more violent (rapid) than expansions. This paper systematically investigates
this claim and in the process discovers a robust new business cycle fact: contractions in ...
Cited by 21 - Related articles - All 13 versions

Evolution of commuting patterns in the New York City metro area

J Bram… - Current Issues in Economics and Finance, 2005 - ideas.repec.org
Has the migration of jobs to the suburbs changed the commuting patterns in the New York
City metro area? An analysis of current commuting trends suggests that Manhattan remains
the region's undisputed employment center and that workers are actually traveling farther ...
Cited by 11 - Related articles - Cached - Get it from MIT Libraries - All 6 versions

The brevity and violence of contractions and expansions

[PDF] from eabcn.org
A McKay… - 2006 - nber.org
Early studies of business cycles argued that contractions in economic activity were briefer
(shorter) and more violent (rapid) than expansions. This paper systematically investigates
this claim and in the process discovers a robust new business cycle fact: expansions and ...
Cited by 9 - Related articles - BL Direct - All 15 versions

[PDF] Housing Trends in the 1990s: The Effects on Rent Inflation and Its Measurement in the CPI

[PDF] from brookings.edu
J McCarthy, RW Peach… - manuscript, Federal Reserve …, 2004 - brookings.edu
Abstract The housing market in the US was quite robust recently, yet at the same time,
inflation of the tenant rent and owners' equivalent rent (OER) components of the CPI was
modest. This paper compares CPI tenant rent and OER inflation with counterpart ...
Cited by 2 - Related articles - View as HTML - All 13 versions

Rational inattention to discrete choices: a new foundation for the multinomial logit model

[PDF] from bu.edu
F Matějka… - 2011 - papers.ssrn.com
Abstract: Often, individuals must choose among discrete alternatives with imperfect
information about their values, such as selecting a job candidate, a vehicle or a university.
Before choosing, they may have an opportunity to study the options, but doing so is costly. ...
Cited by 2 - Related articles - All 19 versions

[PDF] VHousehold Saving Behavior, Wealth Accumulation and Social Se& curity Privatization

[PDF] from bc.edu
A McKay - 2008 - fmwww.bc.edu
Abstract: I develop a general equilibrium model of household saving behavior in which the
quality of financial decisions is endogenously determined by the incentives to exert effort in
learning about financial opportunities. The model embeds an equilibrium search setting in ...
Cited by 2 - Related articles - View as HTML - All 8 versions

[PDF] Measuring brevity and violence: a comparison of approaches

[PDF] from bu.edu
A McKay… - Unpublished manuscript, 2008 - sws.bu.edu
McKay and Reis (2008) presented a new business cycle factl contractions in employment
are briefer and more violent than expansions of employment while contractions of output are
not significantly briefer or more violentl and to explain it offered a model of business cycles ...
Cited by 1 - Related articles - View as HTML - All 8 versions

[PDF] Simple Market Equilibria with Rationally Inattentive Consumers

[PDF] from 128.197.153.21
F Matejka… - 2012 - 128.197.153.21
Abstract We study a market with rationally inattentive consumers who are unsure of the
terms of the offers made by firms, but can acquire information about the terms at a cost. In a
symmetric equilibrium, the price set by firms is continuously increasing in the cost of ...
Related articles - View as HTML - All 3 versions

[CITATION] Spurious Investment Specific Technological Change

A McKay… - 2005 Meeting Papers, 2005 - econpapers.repec.org
... Spurious Investment Specific Technological Change. Alisdair McKay () and Bart Hobijn ()
Additional contact information Bart Hobijn: Domestic Research Function Federal Reserve Bank
of New York. No 652, 2005 Meeting Papers from Society for Economic Dynamics. ...
Cached - All 4 versions

[PDF] Accounting for Idiosyncratic Wage Risk Over the Business Cycle

[PDF] from ucla.edu
A McKay… - 2011 - econ.ucla.edu
Abstract We demonstrate that wage volatility, measured as the cross-sectional variance of
wage changes in PSID data, is positively correlated with the unemployment rate, and thus it
is counter-cyclical. We quantify this relationship by estimating the regression coefficient of ...
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[PDF] Spurious Investment Specific Technological Change

[PDF] from repec.org
B Hobijn… - 2005 - repec.org
Abstract We introduce a vintage capital model in which workers are matched with machines
of increasing quality. Quality improvements of the machines are the sole source of
technological change in this economy. However, the matching of workers with machines ...
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[PDF] Household Saving Behavior and Social Security Privatization

[PDF] from bu.edu
A McKay - 2011 - sws1.bu.edu
Abstract I develop a general equilibrium model of saving behavior in which the quality of
financial decisions is endogenously determined by the incentives to exert effort in learning
about financial opportunities. The model generates predictions for asset holdings, asset ...
Related articles - View as HTML - All 5 versions

Essays on macroeconomics

AG McKay - 2010 - gradworks.umi.com
UMI, ProQuest ® Dissertations & Theses. The world's most comprehensive collection of
dissertations and theses. Learn more... ProQuest, Essays on macroeconomics. by McKay, Alisdair
Graham, Ph.D., PRINCETON UNIVERSITY, 2010, 195 pages; 3393439. Abstract: ...
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[PDF] A Spuriously New Economy

[PDF] from nber.org
B Hobijn… - 2005 - nber.org
Abstract We introduce a vintage capital model in which workers are matched with machines
of increasing quality. Quality improvements of the machines are the sole source of
technological change in this economy. However, the matching of workers with machines ...
Related articles - View as HTML - All 2 versions

[PDF] Spurious Investment Prices

[PDF] from indexmeasures.ca
B Hobijn… - 2007 - indexmeasures.ca
Abstract We introduce a vintage capital model in which workers are matched with machines
of increasing quality. Quality improvements of the machines are the sole source of
technological change in this economy. However, the matching of workers with ma& chines ...
Related articles - View as HTML - All 11 versions

Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model

A McKay… - 2011 - ideas.repec.org
Individuals must often choose among discrete alternatives with imperfect informa-tion about
their values. Before choosing, they may have an opportunity to study the options, but doing
so is costly. This costly information acquisition creates new choices such as the number of ...
Cached

[PDF] Accounting for the Cyclical Volatility of Wages

[PDF] from 213.241.152.197
Full text - MIT Libraries
A McKay… - IDEA, 2003 - 213.241.152.197
Abstract Wage volatility, measured as the cross-sectional variance of wage changes, is
positively correlated with the unemployment rate with a correlation coefficient of 0.61. We
decompose this correlation into three main factors. During a recession, wage volatility ...
Related articles - View as HTML - All 10 versions

Simple Market Equilibria with Rationally Inattentive Consumers

A McKay… - 2011 - ideas.repec.org
We study a market with rationally inattentive consumers who are unsure of the terms of the
offers made by firms, but can acquire information about the terms at a cost. In a symmetric
equilibrium, the price set by firms is continuously increasing in the cost of information for ...
Cached

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