 | Professor of Economics, Columbia University Verified email at columbia.edu Cited by 3794 |
NG Mankiw… - The Quarterly Journal of Economics, 2002 - qje.oxfordjournals.org
Abstract This paper examines a model of dynamic price adjustment based on the
assumption that information disseminates slowly throughout the population. Compared with
the commonly used sticky-price model, this sticky-information model displays three related ...
G Hoggarth,
R Reis… - Journal of Banking & Finance, 2002 - Elsevier
This paper assesses the cross countrystylised facts' on empirical measures of the losses
incurred during periods of banking crises. We first consider the direct resolution costs to the
government and then the broader costs to the welfare of the economy–proxied by losses ...
At least since Milton Friedman's renowned presidential address to the American Economic
Association in 1968, expected inflation has played a central role in the analysis of monetary
policy and the business cycle. How much expectations matter, whether they are adaptive ...
R Reis - Journal of Monetary Economics, 2006 - Elsevier
This paper studies the consumption decisions of agents who face costs of acquiring,
absorbing and processing information. These consumers rationally choose to only
sporadically update their information and re-compute their optimal consumption plans. In ...
R Reis - Review of Economic Studies, 2006 - Wiley Online Library
I present and solve the problem of a producer who faces costs of acquiring, absorbing, and
processing information. I establish a series of theoretical results describing the producer's
behaviour. First, I find the conditions under which the producer prefers to set a plan for the ...
F Pivetta… - Journal of Economic dynamics and control, 2007 - Elsevier
Has the persistence of inflation in the United States changed since 1965? We estimate the
persistence of inflation over time using different measures and estimation procedures and
we produce confidence intervals for our estimates as well as formal tests of unchanged ...
A Blinder… - The Greenspan Era: Lessons for the Future, 2005 - princeton.edu
Alan Greenspan was sworn in as Chairman of the Board of Governors of the Federal
Reserve System almost exactly 18 years ago. At the time, the Reagan administration was
being rocked by the Iran-contra scandal. The Berlin Wall was standing tall while, in the ...
This paper is a contribution to the analysis of optimal monetary policy. It begins with a critical
assessment of the existing literature, arguing that most work is based on implausible models
of inflation-output dynamics. It then suggests that this problem may be solved with some ...
This paper explores a model of wage adjustment based on the assumption that information
disseminates slowly throughout the population of wage setters. This informational frictional
yields interesting and plausible dynamics for employment and inflation in response to ...
This paper develops and analyzes a general-equilibrium model with sticky information. The
only rigidity in goods, labor, and financial markets is that agents are inattentive, sporadically
updating their information sets, when setting prices, wages, and consumption. After ...
NG Mankiw… - Journal of the European Economic …, 2003 - Wiley Online Library
Abstract This paper assumes that a central bank commits itself to maintaining an inflation
target and then asks what measure of the inflation rate the central bank should use if it wants
to maximize economic stability. The paper first formalizes this problem and examines its ...
This paper explores a macroeconomic model of the business cycle in which stickiness of
information is a pervasive feature. Prices, wages, and consumption are all assumed to be
set, to some degree, based on outdated information sets. We show that a model with such ...
This paper uses a dynamic factor model for the quarterly changes in consumption goods'
prices to separate them into three independent components: idiosyncratic relative-price
changes, a low-dimensional index of aggregate relative-price changes, and an index of ...
This paper surveys the research in the past decade on imperfect information models of
aggregate supply and the Phillips curve. This new work has emphasized that information is
dispersed and disseminates slowly across a population of agents who strategically ...
R Reis - Journal of the European Economic Association, 2009 - Wiley Online Library
Abstract The properties of the stochastic process followed by aggregate consumption affect
the estimates of the costs of fluctuations. This paper pursues two approaches to modeling
consumption dynamics and measuring how much society dislikes fluctuations, one ...
This paper reviews the unconventional US monetary policy responses to the financial and
real crises of 2007-09, divided into three groups: interest rate policy, quantitative policy, and
credit policy. To interpret interest rate policy, it compares the Federal Reserve's actions ...
This paper presents a dynamic stochastic general-equilibrium model with a single friction in
all markets: sticky information. In this economy, agents are inattentive because of costs of
acquiring, absorbing and processing information, so that the actions of consumers, ...
R Reis - Advances in Macroeconomics, 2003 - columbia.edu
Abstract Empirical research has shown that there is large uncertainty concerning the value
of the natural rate of unemployment at any point in time. I incorporate this feature in a model
of monetary policy where the policymaker targets an inflation rate and the natural rate of ...
R Reis - American Economic Journal: Macroeconomics, 2009 - JSTOR
This paper uses a dynamic stochastic general equilibrium (DSGE) model with sticky
information as a laboratory to study monetary policy. It characterizes the model's predictions
for macro dynamics and optimal policy at prior parameters, and then uses data on five US ...
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 ...
R de Rezende Rocha, F Saldanha… - Revista Brasileira …, 1995 - en.scientificcommons.org
RF Reis… - Contemporary Accounting Research, 2007 - papers.ssrn.com
Page 1. Electronic copy of this paper is available at: http://ssrn.com/abstract=975445
Strategic Consequences of Historical Cost and Fair Value Measurements* RICARDO
F. REIS, Catholic University of Portugal PHILLIP C. STOCKEN ...
[CITATION] VInattentive Consumers
R Reis - V Journal of Monetary Economics, 1800
H Oh… - 2011 - nber.org
Between 2007 and 2009, government expenditures increased rapidly across the OECD
countries. While economic research on the impact of government purchases has flourished,
in the data, about three quarters of the increase in expenditures in the United States (and ...
R Reis - Economics Letters, 2007 - Elsevier
This note analytically characterizes the equilibrium dynamics of the Sidrauski model and
reaches three conclusions regarding monetary policy:(i) it is typically not neutral,(ii) in some
cases, it is not neutral even in the steady state, and (iii) a policy that has the nominal ...
The dynamic stochastic general equilibrium (DSGE) models that are used to study business
cycles typically assume that exogenous disturbances are independent autoregressions of
order one. This paper relaxes this tight and arbitrary restriction, by allowing for ...
While this is typically ignored, the properties of the stochastic process followed by aggregate
consumption affect the estimates of the costs of fluctuations. This paper pursues two
approaches to modelling aggregate consumption dynamics and to measuring how much ...
R Reis… - 2005 - papers.ssrn.com
Abstract: If a consumer wishes to protect her retirement account from the risk of price
changes in order to sustain a stable standard of living, then what price index should the
account be indexed to? This paper constructs a dynamic price index (DPI) that answers ...
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 ...
R Reis, MW Watson… - 2007 - nber.org
ABSTRACT This paper estimates a common component in many price series that has an
equiproportional effect on all prices. Changes in this component can be interpreted as
changes in the value of the numeraire since, by definition, they leave all relative prices ...
[CITATION] Where should liquidity be injected during a financial crisis?
R Reis - Columbia University, 2009
[CITATION] Monetary Policy
L Ball, NG Mankiw… - Monetary Policy, 1994 - The University of Chicago Press …
[CITATION] A Model of Monetary Non-neutrality and Structural Slumps
NG Mankiw… - 2003 - … : In Honor of Edmund Phelps, ed. by …
[CITATION] Targeted transfers and the great recession
H Oh… - 2010 - Mimeo
Abstract The existing theory on cost% of% living price indices is built on the classical static
model of consumption with certainty. This paper studies the construction of a price index that
measures the cost of living for a consumer who lives for more than one period and faces ...
[CITATION] Monetary Policy for Inattentive Economies
G Mankiw, L Ball… - Journal of Monetary Economics, forthcoming, 2004
[CITATION] A Web Teaching System Based on Formal Methods
CTQ De Morais, JP Machado, PB Menezes… - 16th World Computer …, 2000
[CITATION] DISAGREEMENT ABOUT INFLATION EXPECTATIONS WORKING PAPER 9796
RJ Reis, PF La Rocca, AM Silveira… - Revista de Saúde …, 2003 - SciELO Public Health
This paper shows that conventional measures of cost-of-living inflation, based on static
models of consumption, suffer from two problems. The first is an intertemporal substitution
bias, as these measures neglect the ability of consumers to borrow and lend in response ...
[CITATION] Suc~ y Information versus Sticky Prices: A Proposal to ReplacetheNewKeynesian PhillipsCu,~ eD
问Mankiw, N Gregory… - QuanerlyJournal ofEconomics, 2002
Abstract If a policymaker learns today that there will be a regime change in the future that
affects everyone, at what time between now and then should he/she announce it to the
public? This paper presents a dynamic model where agents have a limited amount of ...
[CITATION] An Interpretation of the Unconventional US Monetary Policy Response to the 2007-09 Crisis
R Reis - September 2009 Brookings Conference on Economic …, 2009
How can Europe fix its sovereign-debt crisis? Many favour euro bonds, but those seem
politically impractical because they would require supranational fiscal policies. This chapter
proposes creating safe European assets without requiring additional funding by having a ...
[CITATION] Sticky information
A Krishnamurthy, S Djankov, T Ganser, C McLiesh… - cnb.uran.ru
Front Matter (pp. i-ii) Amplification Mechanisms in Liquidity Crises (pp. 1-30) Arvind Krishnamurthy
The Effect of Corporate Taxes on Investment and Entrepreneurship (pp. 31-64) Simeon
Djankov, Tim Ganser, Caralee McLiesh, Rita Ramalho and Andrei Shleifer Was the ...
[CITATION] Reading art: public art as a learning instrument
S FERNANDES, P PARTIDÁRIO… - Proceedings of the International InSEA …, 2006
PF Lopes, RP Reis… - Revista de Economia e …, 2007 - SciELO Brasil
RJ Reis, M Utzet, PF La Rocca, FB Nedel… - International archives of …, 2011 - Springer
Page 1. ORIGINAL ARTICLE Previous sick leaves as predictor of subsequent ones
Ricardo J. Reis • Mireia Utzet • Poliana F. La Rocca • Fúlvio B. Nedel • Miguel Martın •
Albert Navarro Received: 19 April 2010 / Accepted: 26 ...
RF Reis… - 2002 - clsbe.lisboa.ucp.pt
... Ricardo Reis wishes to thank the Fundacao para a Ciencia e Tecnologia for financial assistance.
1 Page 2. Key words: asset measurement; historical cost; present value; Edgeworth- Bertrand
game. Information Content of Asset Valuation Rules 1 Introduction ...
R Reis… - 2007 - papers.ssrn.com
Abstract: This note comments on Perotti's (2008) estimates of the impact of a government
spending shock on the economy. In the process, it makes two points. First, it notes that with
enough freedom to pick the dynamics of policy variables, the neoclassical model can ...
Analyzing 50 years of inflation expectations data from several sources, we document
substantial disagreement among both consumers and professional economists about
expected future inflation. Moreover, this disagreement shows substantial variation through ...
[CITATION] Disagreement about Inflation Expectations
M Gregory, R Ricardo… - 2003 - June
Abstract This paper estimates a sticky $ information general $ equilibrium model for the
United States and the Euro $ area, and uses it as a laboratory to answer monetary policy
ques $ tions. The first set of questions is positive and concerns describing past monetary ...
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 ...
LH Fassio, RP Reis, LCT Yamaguchi… - Revista de Economia e …, 2005 - SciELO Brasil
R Reis - Documentos de Trabajo (Banco Central de Chile), 2008 - dialnet.unirioja.es
Resumen: En este trabajo se presenta un modelo dinámico y estocástico de equilibrio
general con una única fricción en todos los mercados: información pegajosa. Los agentes
de esta economía son poco informados debido al costo de adquirir, absorber y procesar ...
[CITATION] Odes de Ricardo Reis. Mem Martins-Portugal
R REIS - Publicações Europa-América, s/d
RP Reis, AL Medeiros… - Organizacoes Rurais e …, 2001 - ideas.repec.org
Downloadable! The production costs for dairy milk in the southern region of the state of Minas
Gerais are presented in this study. This research identifies economic indexes of costs that most
influence decisions made by milk producers. The research is based on the theory of costs ...
JM Salgado, RP Reis… - Organizacoes Rurais e …, 2003 - ideas.repec.org
Downloadable! The object of this study was to evaluate pig culture in Vale do Piranga (Zona
da Mata) in Minas Gerais in 2001 technically and managementally. Specifically, it was intended
to characterize the administrative and technological profile of pig culture in the area under ...
MJ Schulz, A Karmann, AHC e Silva, Y Nishioka… - 1990 - spie.org
I present and solve the problem of a producer who faces costs of acquiring, absorbing, and
processing information. I establish a series of theoretical results describing the producer's
behaviour. First, I find the conditions under which she prefers to set a plan for the price she ...
A Navarro, D Moriña, R Reis, FB Nedel… - Scandinavian journal of …, 2012 - sjweh.fi
Objectives This study aims to identify the hazard functions that describe the occurrence
patterns of new and recurrent sick leave (SL) episodes for mental, respiratory, and
musculoskeletal diagnoses. Methods The data come from a cohort of workers in the ...
[CITATION] Woodrow Wilson School of Public and International Affairs
RP Reis, AJ Reis, RE Fontes… - … /Rural and Agro- …, 2001 - ideas.repec.org
Downloadable! A spreadsheet featuring production costs for coffee in different productivity ranges
is presented in this study. The survey is based on the theory of costs and the study location was
the southern region of the state of Minas Gerais, where data on 48 coffee production ...
INP Grenoble, C LAZZARI, L ANGHEL… - hal.archives-ouvertes.fr
Les technologies submicroniques ont inséré des nouveaux défis dans le projet de circuits
intégrés à cause de la réduction des géométries, la réduction de la tension d'alimentation,
l'augmentation de la fréquence et la densité élevée de la logique. Cette thèse est divisée ...
R Reis - 2004 - books.google.com
This volume reports on several important and state-of-the-art topics in information
technology, including: • Quality of Service in Information Networks • Risk-Driven
Development of Security-Critical Systems Using UMLsec • Developing Portable ...
JM Keynes, A Pigou, S Fischer, M Friedman… - medbib.com
From 2003 to 2005, Mankiw was chairman of the Council of Economic Advisers under
President George W. Bush. In 2006, he became an economic adviser to Mitt Romney.[1] He
is a conservative [2][3][4][5] and he writes a popular blog, ranked the number one ...
How should economists compare the predictions of a model with the data? A currently
popular answer to this perennial question is to plot the impulse response functions of some
variables to shocks and compare the responses predicted by the model to those estimated ...
MA Lopes, ALR Lima, FM Carvalho… - Ciência e …, 2004 - SciELO Brasil
Page 1. CONTROLE GERENCIAL E ESTUDO DA RENTABILIDADE DE SISTEMAS
DE PRODUÇÃO DE LEITE NA REGIÃO DE LAVRAS (MG)* Managerial control and
profitability study of milk production systems in Lavras region (MG) ...
H Oh… - 2011 - cepr.org
Between 2007 and 2009, government expenditures increased rapidly across the OECD
countries. While economic research on the impact of government purchases has flourished,
in the data, about three quarters of the increase in expenditures in the United States (and ...
R Reis - 2011 - papers.ssrn.com
Abstract: The economic crisis of the past two years has brought a tremendous amount of
excitement to the field of macroeconomics. Students are flocking into macro classes, PhD
theses and seminar papers are becoming more creative and connected to the real world. ...
While this is typically ignored, the properties of the stochastic process followed by aggregate
consumption affect the estimates of the costs of fluctuations. This paper pursues two
approaches to modelling aggregate consumption dynamics and to measuring how much ...
[CITATION] Understanding the Forward Premium Puzzle: A Microstructure Approach Craig Burnside, Martin Eichenbaum, and Sergio Rebelo............. 127 The …
F STAN, R Reis… - American …, 2009 - American Economic Association
SS da Silva, RP Reis… - pensaconference.org
Page 1. 1 VII International PENSA Conference November, 26-28th, 2009 - Sao Paulo,
Brazil CONCEPTS OF NATURE VALUE: ARE THE PARTICULAR CHARACTERISTICS
OF NATURE GOODS BEING CONSIDERED? Sabrina ...
[CITATION] Comments and Discussion
R Reis… - Brookings Papers on Economic Activity, 2010
This paper explores a macroeconomic model of the business cycle in which stickiness of
information is pervasive. We start from a familiar benchmark classical model and add to it the
assumption that there is sticky information on the part of consumers, workers, and firms. ...
[CITATION] WHAT MEASURE OF INFLATION SHOULD A CENTRAL BANK TARGET? BY GREGORY MANKIW
This paper surveys the research in the past decade on imperfect information models of
aggregate supply and the Phillips curve. This new work has emphasized that information is
dispersed and disseminates slowly across a population of agents who strategically ...
RF Reis - 2012 - clsbe.lisboa.ucp.pt
Page 1. Catolica Lisbon School of Business and Economics Universidade Católica
Portuguesa Personal Financial Planning Spring 2012 Ricardo F Reis (rireis@ucp.pt,
skype: ricardo.f.reis) Office hours: by appointment Introduction ...
AD Oliva, GP Dias… - Psicologia: Reflexão e Crítica - doaj.org
If a consumer wishes to protect her retirement account from the risk of price changes in order
to sustain a stable standard of living, then what price index should the account be indexed
to? This paper constructs a dynamic price index (DPI) that answers this question. Unlike ...
R Reis - International Journal of Education Through Art, 2010 - ingentaconnect.com
Abstract: This article presents the results of a trans-disciplinary study focusing on public art
and art education. It poses questions about public art as an educational resource, and
acknowledges the need to clarify its educational role. The study investigated whether or ...
The dynamic stochastic general equilibrium (DSGE) models that are used to study business
cycles typically assume that exogenous disturbances are independent autoregressions of
order one. This paper relaxes this tight and arbitrary restriction, by allowing for ...
RCRVF Reis - 2005 - repository.upenn.edu
In this paper we examine the impact of accrual accounting rules on the strategic decisions of
competing firms. We use a two period Cournot duopoly model to conclude that the different
depreciation rules help shape the informational setting under which the firms take competitive ...
R Reis… - Discussion Papers, 2011 - ideas.repec.org
Between 2007 and 2009, government expenditures increased rapidly across the OECD
countries. While economic research on the impact of government purchases has flourished,
in the data, about three quarters of the increase in expenditures in the United States (and ...
R Reis… - papers.ssrn.com
-A fair value accounting regime could change how the total assets component of REIT bond
covenants is defined. The most common definition is currently undepreciated cost.
Definitions with fair value aspects could become more common. However, we do not ...
This paper reviews the unconventional US monetary policy responses to the financial and
real crises of 2007-09, divided into three groups: interest rate policy, quantitative policy, and
credit policy. To interpret interest rate policy, it compares the Federal Reserve's actions ...
[CITATION] Organizational Dynamics of Technology-based Innovation: Diversifying the
R Reis - 2007 - Springer
This paper uses a dynamic factor model for the quarterly changes in consumption goods'
prices to separate them into three components: idiosyncratic relative-price changes,
aggregate relative-price changes, and changes in the unit of account. The model identifies ...
This paper studies the consumption decisions of agents who face costs of acquiring,
absorbing and processing information. These consumers rationally choose to only
sporadically update their information and re-compute their optimal consumption plans. In ...
C Smilan, TT de Eça, G Kakourou-Chroni… - unesco.org
Abstract New education paradigms fostering creative risk-taking, and re-discovery are
needed as employers and ministers seek innovative individuals to stimulate economic
growth. Artsbased curriculum breaks traditional boundaries, allowing students to ...
RF Reis - oecd.org
Page 1. The impact of PPPs contracting on Portugal's fiscal position and what can be done about
it Presentation at the 4th Annual OECD Symposium on PPP Working Party of Senior Budget
Officials (SBO) Professor Ricardo Ferreira Reis Page 2. Introduction ...
NG Castro, RP Reis, AJ Reis… - Análise Econômica, 1992 - seer.ufrgs.br
Page 1. Faculdade de Ciências Econômicas UFRGS econõmiCQ INDEXA Ç Ã
OSALARIAL : UMA ABORDAGEM MACROECON Ô MICA Jo Anna Grav AJUSTE
NO EMPREGO E PRODUTIVIDADENAD É CADADE OITENTA ...
[CITATION] LIMA, João Eustáquio de. O Mercado de leite: política de intervenção e estrutura produtiva
RP Reis… - Revista Brasileira de Economia e Sociologia Rural. …, 1993
FM Galizoni, EM Ribeiro, EC Lopes… - 46th Congress, July …, 2008 - ideas.repec.org
Downloadable! O Alto-Médio São Francisco, inserido no bioma caatinga, está localizado na
porção norte do estado de Minas, região semi-árida, marcada por uma distribuição muito irregular
das chuvas no correr do ano. Esta região é alvo de projetos de irrigação, interessados ...
MF CANZIANI, RP REIS… - … BRASILEIRO DE ECONOMIA …, 1998 - orton.catie.ac.cr
SIDALC - Servicio de Informacion y Documentacion Agropecuaria de las Americas.
LA Abrantes, RP Reis… - Custos e@ …, 2009 - custoseagronegocioonline.com.br
Page 1. The indirect taxation on costs of the coffee production and commercialization.
Abrantes, L. A; Reis, R. P; Silva, MP Custos e @gronegócio on line - v. 5, n. 1 - Jan/Apr -
2009. ISSN 1808-2882 www.custoseagronegocioonline.com.br 41 ...
CC Jobim, LG Nussio, RA Reis… - Revista Brasileira de …, 2007 - SciELO Brasil
C Popp… - publicadireito.com.br
RESUMO É profícua a relação entre o Direito ea Literatura, desde os tempos mais remotos,
da História da humanidade, denotando os traços de ligação entre os elementos legais e
culturais, compondo cenários em que a vida imita a arte ea arte imita a vida, ...
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