L Ljungqvist… - 2004 - books.google.com
Recursive methods offer a powerful approach for characterizing and solving complicated
problems in dynamic macroeconomics. Recursive Macroeconomic Theoryprovides both an
introduction to recursive methods and advanced material, mixing tools and sample ...
L Ljungqvist… - Journal of Political Economy, 1998 - JSTOR
Post-World War II European welfare states experienced several decades of relatively low
unemployment, followed by a plague of persistently high unemployment since the 1980s.
We impute the higher unemployment to welfare states' diminished ability to cope with ...
L Ljungqvist… - American Economic Review, 2000 - JSTOR
This paper examines the role for tax policies in productivity-shock driven economies with
catching-up-with-the-Joneses utility functions. The optimal tax policy is shown to affect the
economy countercyclically via procyclical taxes, ie," cooling down" the economy with ...
L Ljungqvist - The Economic Journal, 2002 - Wiley Online Library
General equilibrium analyses of lay-off costs have had mixed messages on the implications
for employment. This paper brings out the economic forces at work and sheds light on the
disparate results. We explain why lay-off costs tend to increase employment in search ...
L Ljungqvist - Journal of Development Economics, 1993 - Elsevier
Abstract This paper demonstrates that the coexistence of developed and underdeveloped
countries can be a stationary equilibrium in a world economy with free trade in consumption
goods and physical capital. An underdeveloped country is characterized by a high ratio of ...
LJ Christiano… - Journal of Monetary Economics, 1988 - Elsevier
Abstract A bivariate Granger-causality test on money and output finds statistically significant
causality when data are measured in log levels, but not when they are measured in first
differences of the logs. Bootstrap simulation experiments indicate that, most probably, the ...
J Sargent Thomas… - 2000 - en.scientificcommons.org
Abstract Recursive methods offer a powerful approach in dynamic macroeconomics. This
book contains both an introduction to recursive tools, including standard applications such
as asset pricing, and advanced material, including analyses of reputational mechanisms ...
L Ljungqvist… - European Economic Review, 1995 - Elsevier
Since the 1960s, Sweden has sustained a remarkably low unemployment rate while the
average duration of unemployment spells has been increasing over time. This pattern is
reproduced in an equilibrium search model incorporating progressive income taxes, ...
L Ljungqvist… - Econometrica, 2008 - Wiley Online Library
A general equilibrium search model makes layoff costs affect the aggregate unemployment
rate in ways that depend on equilibrium proportions of frictional and structural
unemployment that in turn depend on the generosity of government unemployment ...
L Ljungqvist… - 2007 - nber.org
Prescott (2002) used a growth model with a stand-in household and the assumption that the
government transfers all tax revenues to the household to argue that cross-country
differences in taxes on labor account for cross-country differences in hours per capita. This ...
L Ljungqvist… - Journal of the European Economic …, 2004 - Wiley Online Library
Abstract We recalibrate den Haan, Haefke, and Ramey's matching model to incorporate our
preferred specification of “turbulence” as causing distinct dynamics of human capital after
voluntary and involuntary job losses. Under our calibration, with high unemployment ...
L Ljungqvist… - Economic Theory, 1995 - Springer
Summary This paper studies equilibrium unemployment in a search model where the
government both provides liberal unemployment insurance and taxes labor at high
progressive tax rates. It is shown how progressive income taxation can counteract a high ...
L Ljungqvist… - Journal of Monetary Economics, 2007 - Elsevier
To understand European and American unemployment during the last 60 years, we use a
search-island model and four matching models with workers who have heterogeneous skills
and entitlements to government benefits. When there is higher turbulence, in the sense of ...
L Ljungqvist - Journal of Financial Intermediation, 1994 - cenet3.nsd.edu.cn
This paper demonstrates how managers with private information about firms' exposure to
risk may, in the best interest of shareholders, engage in speculation instead of hedging as
the conventional wisdom tells us. The reason is that when profits serve as a signal of firms' ...
L Ljungqvist - Journal of International Money and Finance, 1994 - Elsevier
Abstract This paper presents a simple general equilibrium model of hysteresis in
international trade, ie, temporary exchange rate fluctuations can have persistent effects on
trade flows. Besides supporting earlier partial equilibrium results, the analysis bears out a ...
[CITATION] The European unemployment dilemma
TJ Sargent… - Journal of Political Economy, 1998
L Ljungqvist - Journal of Development Economics, 1995 - Elsevier
This paper explores the role of wage structure as implicit insurance on human capital. It
illustrates how smaller wage differentials in the developed world can be welfare-enhancing
by acting as implicit insurance while larger wage differentials in underdeveloped countries ...
L Ljungqvist… - Journal of Monetary Economics, 2007 - Elsevier
A representative family model with indivisible labor and employment lotteries has no labor
market frictions and complete markets. Nevertheless, its aggregate responses to an increase
in government supplied unemployment insurance (UI) and to an increase in ...
L Ljungqvist - Journal of the American Statistical Association, 1993 - JSTOR
Randomized response survey techniques are used for collecting data on sensitive issues
while trying to protect the respondents' privacy. The degree of confidentiality will clearly
determine whether or not respondents choose to cooperate. This has motivated a search ...
S Kitao, L Ljungqvist… - Photocopy, November, 2008 - cepr.org
Abstract To understand trans-Atlantic employment experiences in the post-World War II era,
we enrich the environment of Ljungqvist and Sargent (2008b) in ways that allow skill losses
occasioned by involuntary job separations ('turbulence') to have further effects on labor ...
[CITATION] The European Unemployment Experience: Uncertainty and Heterogeneity
L Ljungqvist… - Departments of Economics, Stockholm School of …, 2005
L Ljungqvist… - 1997 - nber.org
Figure 7.1 reproduces a version of the first chart in Turning Sweden Around (Lindbeck et al.
1994). It shows two striking features of unemployment in Sweden in the years after 1960.
Until 1992, unemployment in Sweden remained persistently lower than in the average ...
L Ljungqvist… - Journal of Monetary Economics, 2008 - Elsevier
An incomplete-market life-cycle model with indivisible labor makes career lengths and
human capital accumulation respond to labor tax rates and government supplied non-
employment benefits. We compare aggregate and individual outcomes in this ...
[CITATION] Recursive Macroeconomic Theory Cambridge
L Ljungqvist… - 2000 - MA: MIT Press
L Ljungqvist… - … School of Economics and New York …, 2005 - 222.23.210.216
Abstract Before the 1970's, similarly short durations but lower flows into unemployment
meant that Europe had lower unemployment rates than the United States. But since 1980,
higher durations have kept unemployment rates in Europe persistently higher than in the ...
L Ljungqvist… - 2009 - nber.org
Campbell and Cochrane (1999) formulate a model that successfully explains a wide variety
of asset pricing puzzles, by augmenting the standard power utility function with a time-
varying subsistence level, or" external habit", that adapts nonlinearly to current and past ...
[CITATION] Recursive Macroeconomic The $ ory
L Ljungqvist… - 2000 - MIT press
[CITATION] Recursive Macroeconomic Theory
L Lars… - 2000 - Cambridge, MA, MIT Press
[CITATION] Lotteries for consumers versus lotteries for firms
L Ljungqvist… - FRONTIERS IN APPLIED GENERAL EQUILIBRIUM …, 2003
LJ Christiano… - Staff Report, 1987 - ideas.repec.org
A bivariate Granger-causality test on money and output finds statistically significant causality
when data are measured in log levels, but not when they are measured in first differences of
the logs. Which of these results is right? The answer to that question matters because a ...
L Ljungqvist - Scottish Journal of Political Economy, 1999 - Wiley Online Library
This paper reviews the argument that high long-term unemployment in Europe is caused by
generous social safety nets in times of economic turbulence. We report on the empirical
evidence of a more turbulent economic environment and present the theoretical ...
L Ljungqvist… - The American Economic Review, 2011 - ingentaconnect.com
Abstract: A dispute about the size of the aggregate labor supply elasticity has been fortified
by a contentious aggregation theory used by real business cycle theorists. The replacement
of that aggregation theory with one more congenial to microeconomic observations opens ...
[CITATION] i Sargent, TJ (2000) Recursive Macroeconomic Theory
L Ljungqvist - The MIT Press, Cambridge, MA
L Ljungqvist… - 2006 - bportugal.pt
Abstract To appreciate the role of a'not-so-well-known aggregation theory'that underlies
Prescott's (2002) conclusion that higher taxes on labor have depressed Europe relative to
the US, this paper compares aggregate outcomes for economies with two alternative ...
L Ljungqvist… - Stockholm School of Economics and Tilburg …, 1999 - Citeseer
Abstract Campbell and Cochrane 1999 propose a preference speci cation that can explain a
wide variety of asset pricing puzzles such as the high equity premium. They augment the
basic power utility function with a time-varying subsistence level, or habit", which is in the ...
L Ljungqvist - Working papers, 1993 - econpapers.repec.org
By L. Ljungqvist; Deposit Insurance and Asset Price Volatility.
L Ljungqvist… - 2004 - mey.homelinux.org
This chapter describes the class of dynamic programming problems in which the return
function is quadratic and the transition function is linear. This specification leads to the
widely used optimal linear regulator problem, for which the Bellman equation can be ...
L Ljungqvist - Cesifo Dice Report, 2003 - cesifo-group.de
The European unemployment experience during the last 50 years can be divided into a
period with low unemployment in the 1950s until the mid-1970s and thereafter a large
increase with persistently high unemployment since the 1980s. The challenge to ...
L Ljungqvist - Stockholm School of Economics, 2000 - Citeseer
Abstract. This paper studies general-equilibrium e ects of government guarantees on assets
in a stochastic growth model. It is shown that there is an inverted-U relationship between the
guaranteed rate of return and price volatility. On the one hand, the initial e ect is that the ...
L Ljungqvist - Working papers, 1989 - econpapers.repec.org
By L. Ljungqvist; INSUFFICIENT HUMAN CAPITAL ACCUMULATION
RESULTING IN DUAL ECONOMY CAUGHT IN A POVERTY TRAP.
[CITATION] Comment on “Work and Leisure in the US, Why so Different?”
L Ljungqvist - NBER Macroeconomics Annual, 2005
[CITATION] Recursive Macroeconomic Theory, volume 1 of MIT Press Books
L Ljungqvist… - 2004 - The MIT Press
L Ljungqvist, H Uhlig… - 1996 - wiwi.hu-berlin.de
Abstract This paper examines the role for tax policies in productivity-shock driven economies
with catching-up-with-the-Joneses" utility functions. The optimal tax policy is shown to a ect
the economy countercyclically via procyclical taxes, ie, traditional Keynesian demand ...
L Ljungqvist, TJ Sargent… - 2010 - papers.ssrn.com
Abstract: The high labor supply elasticity in an indivisible-labor model with employment
lotteries emerges also without lotteries when individuals must instead choose career
lengths. The more elastic are earnings to accumulated working time, the longer is a ...
[CITATION] Taxes and subsidies in Swedish unemployment
L Ljungqvist… - 1995 - Studieförb. Näringsliv och samhälle ( …
[CITATION] oDo Taxes Explain European Employ& ment
L Ljungqvist… - Indivisible Labour, Human Capital, Lotteries and …, 2007
L Ljungqvist… - 2010 - nber.org
“The main difficulty with the Eurosclerosis hypothesis is one of timing. Although details can
be debated, no strong case exists that Europe's welfare states were much more extensive or
intrusive in the 1970s than in the 1960s, and no case at all exists that there was more ...
[CITATION] Recursive Macroeconomic Theory Cambridge and London
L Ljungqvist… - 2000 - MIT Press
[CITATION] Dynamic Macroeconomic Theory
L Ljungqvist… - 2004 - Cambridge (Mass.): Harvard …
[CITATION] Recursive Macroeconomic Theory. 2nd
TJ Sargent… - 2004 - Cambridge, MA: The MIT Press
[CITATION] iThe European Unemployment Experi" ence: Uncertainty and Heterogeneity, jmimeo
L Ljungqvist… - Stockholm School of Economics, 2005
[CITATION] Recursive Macroeconomic Theory
TJS Lars Ljungqvist - 2004 - Boston, The MIT Press
L Ljungqvist - Working Papers, 1992 - econpapers.repec.org
By L. Ljungqvist; Economic Development, Wage Structure
and Implicit Insurance on Human Capital.
L Ljungqvist… - 2010 - files.nyu.edu
Abstract The same high labor supply elasticity that characterizes a representative family
model with indivisible labor and employment lotteries can also emerge without lotteries
when self-insuring individuals choose career lengths. Off corners, the more elastic the ...
[CITATION] Recursive macroeconomics
T Sargent… - 1995 - Mimeo, University of Chicago
[CITATION] Thomas Sargent. 2008.“A Life Cycle Model of Trans-Atlantic Employment Experiences.”
S Kitao… - Working paper
L Ljungqvist - Working papers, 1992 - econpapers.repec.org
By L. Ljungqvist; Destabilization Exchange Rate Speculation;
A Counterexample to Milton Friedman.
[CITATION] Recursive Macroeconomic Theory, Cambridge, Massachussets
L Ljungqvist… - 2000 - MIT press
L Ljungqvist… - 2010 - hhs.se
Abstract A finitely lived worker confronts a labor supply indivisibility, chooses when to work,
and smooths consumption by trading an interest bearing security. The worker faces an
exogenously given increasing schedule that maps accumulated time on the job into an ...
L Ljungqvist, M Park, JH Stock… - Journal of Economic …, 1988 - Elsevier
Abstract We examine the quality of recently developed asymptotic approximations to the
sampling distributions of various statistics in levels regressions when the regressors have
unit roots. The calculations were performed using a bivariate probability model typical of ...
[CITATION] Indivisible Labor, Human Capital, Lotteries, and Personal Savings: Do Taxes Explain European Employment?
TJ Sargent… - 2006 - mimeo
[CITATION] Wage Structure and Public Sector Employment: Sweden versus the United States 1970-2002. Stockholm School of Economics SSE
D Domeij… - 2006 - EFI Working Papers in Economics …
L Christiano… - Working Papers, 1987 - econpapers.repec.org
By Lawrence Christiano and Lars Ljungqvist; Money does Granger-cause output in the bivariate
output-money relation (technical appendix). ... Lawrence Christiano () and Lars Ljungqvist. No
369, Working Papers from Federal Reserve Bank of Minneapolis. ...
L Ljungqvist - CESifo Forum, 2010 - ifo.de
The recent financial crisis has caused increased unemployment throughout the world. We
focus on the implications for future labor market performance and on a reform proposal for
Europe. The consequences of the present crisis for Europe depend on whether today's ...
D Domeij… - Manuscript, Stockholm School of Economics, 2007 - phil.frb.org
Abstract Swedish census data and tax records reveal an astonishing wage compression; the
Swedish skill premium fell by 30 percent between 1970 and 1990 while the US skill
premium, after an initial decline in the 1970s, rose by around 9 percent. Since then both ...
[CITATION] Stackelberg Plans
L Ljungqvist… - 2002 - mimeo, Stanford University
L Ljungqvist - 1988 - en.scientificcommons.org
[CITATION] Exercises in Recursive Macroeconomic Theory, manuscript
L Ljungqvist, H Lustig, R Manuelli, TJ Sargent… - 2001 - Stanford University, September
[CITATION] Reviews-Recursive Macroeconomic Theory
L Ljungqvist, TJ Sargent… - Economic …, 2001 - … of Australia and New Zealand, 1925 …
L Ljungqvist, TJ Sargent… - 2004 - cepr.org
We recalibrate den Haan, Haefke, and Ramey's matching model to incorporate our preferred
specification of'turbulence'as causing distinct dynamics of human capital after voluntary and
involuntary job losses. Under our calibration, with high unemployment benefits, an ...
L Ljungqvist - Readings in - arabictrader.com
Dualism is a term often used in the characterization of underdeveloped countries. It refers to
asymmetries in these societies which cannot be found in the developed world. A commonly
asserted dualism is the coexistence of a modern industrial sector and a backward ...
L Ljungqvist… - 2007 - files.nyu.edu
Abstract An incomplete markets life-cycle model with indivisible labor makes career lengths
and human capital accumulation respond to labor tax rates and government supplied non-
employment benefits. We compare aggregate and individual outcomes in this ...
L Ljungqvist… - 2007 - cepr.org
Adding generous government supplied benefits to Prescott's (2002) model with employment
lotteries and private consumption insurance causes employment to implode and prevents
the model from matching outcomes observed in Europe. To understand the role of a'not-so ...
L Ljungqvist… - 2005 Meeting Papers, 2005 - ideas.repec.org
No abstract is available for this item. ... To our knowledge, this item is not available for
download. To find whether it is available, there are three options: 1. Check below under "Related
research" whether another version of this item is available online. 2. Check on the ...
L Ljungqvist… - 2002 - cepr.org
Similar durations but lower flows into unemployment gave Europe lower unemployment
rates than the United States until the 1970's. But since 1980, higher durations have kept
unemployment rates in Europe persistently higher than in the US A general equilibrium ...
L Ljungqvist… - Working Paper Series, Macroeconomic …, 1996 - ideas.repec.org
This paper examines the role for tax policies in productivity-shock driven economies with"
catching-up-with-the-Joneses" utility functions. The optimal tax policy is shown to affect the
economy counter-cyclically via procyclical taxes, ie," cooling down" the economy with ...
L Ljungqvist… - 2006 Meeting Papers, 2006 - ideas.repec.org
We first scrutinize and challenge Prescott's (2002, 2004) quantitative analysis of the role of
differences in taxes in explaining cross-country differences in labor market outcomes, and
then defend an alternative model that assigns an important role to cross-country ...
L Ljungqvist… - 2009 - hhs.se
Abstract Campbell and Cochrane (1999) formulate a model that successfully explains a
wide variety of asset pricing puzzles, by augmenting the standard power utility function with
a time-varying subsistence level, or" external habit", that adapts nonlinearly to current and ...
D Domeij… - 2006 - cepr.org
Swedish census data and tax records reveal an astonishing wage compression; the
Swedish skill premium fell by more than 30 percent between 1970 and 1990 while the US
skill premium, after an initial decline in the 1970s, rose by 8-10 percent. Since then both ...
L Ljungqvist… - 2007 - hhs.se
“The main difficulty with the Eurosclerosis hypothesis is one of timing. Although details can
be debated, no strong case exists that Europe's welfare states were much more extensive or
intrusive in the 1970s than in the 1960s, and no case at all exists that there was more ...
L Ljungqvist - Working papers, 1992 - econpapers.repec.org
By L. Ljungqvist; The Role of Wage Structure as Implicit Insurance on human
Capital in Developed Versus Underdeveloped Countries.
L Ljungqvist… - QM&RBC Codes, 1999 - econpapers.repec.org
Abstract: hugo.m: the main program which calculates the replacement ratio for unemployment
scheme without wage tax. valhugo.m: the function file defining the value function of planner.
... Related works: Working Paper: Optimal Unemployment Insurance (1996) Journal ...
L Ljungqvist - NBER Macroeconomics Annual, 2005 - JSTOR
Alesina, Glaeser, and Sacerdote (AGS) address a most puzzling observation on American
and European employment outcomes:" In the early 1970s, hours worked per person were
about the same in the United States and in Western Europe" but today" Americans ...
[CITATION] How Sweden³s unemployment became more
L Ljungqvist… - 2005
[CITATION] The Missing Swedish Skill Premium
D Domeij… - 2007
L Ljungqvist… - 2007 - esst2006.com
Abstract An incomplete markets life-cycle model with indivisible labor makes career lengths
and human capital accumulation respond to labor tax rates and government supplied non-
employment benefits. We compare aggregate and individual outcomes in this ...
[CITATION] journal of Financial Intermediation
AB Abel, GJ Mailath, L Ljungqvist… - Journal of financial …, 1993 - Academic Press
L Ljungqvist - The Economic Journal, 2002 - res.org.uk
General equilibrium analyses of lay–off costs have had mixed messages on the implications
for employment. This paper brings out the economic forces at work and sheds light on the
disparate results. We explain why lay–off costs tend to increase employment in search ...
L Ljungqvist - Working Papers, 1992 - econpapers.repec.org
By L. Ljungqvist; Asymmetric Information: A Rationale for Firm's Hedging and Speculation.
L Ljungqvist… - 2007 - cepr.org
An incomplete markets life-cycle model with indivisible labour makes career lengths and
human capital accumulation respond to labour tax rates and government supplied non-
employment benefits. We compare aggregate and individual outcomes in this ...
L Ljungqvist… - 2005 - cepr.org
We use three general equilibrium frameworks with jobs and unemployed workers to study
the effects of government mandated unemployment insurance (UI) and employment
protection (EP). To illuminate the forces in these models, we study how UI and EP affect ...
[CITATION] Turbulence with Matching, Search, and Employment Lotteries
L Ljungqvist… - 2005
[CITATION] Edward C. Prescott Comments on “Do Taxes Explain European Unemployment?” Lars Ljungqvist and Thomas J. Sargent
L Ljungqvist
P Carneiro,
JJ Heckman, J Angrist, V Lavy… - The Economic …, 2002 - res.org.uk
This paper examines the family income—college enrolment relationship and the evidence
on credit constraints in post–secondary schooling. We distinguish short run liquidity
constraints from the long term factors that promote cognitive and noncognitive ability. Long ...
L Ljungqvist… - 2010 - cepr.org
The high labor supply elasticity in an indivisible-labor model with employment lotteries
emerges also without lotteries when individuals must instead choose career lengths. The
more elastic are earnings to accumulated working time, the longer is a worker's career. ...
L Ljungqvist - 2001 - temporaryaddress.cepr.org
General equilibrium analysis of layoff costs have had mixed messages on the implications
for employment. This Paper brings out the economic forces at work and explains the
disparate results. Specifically, we show that positive employment effects of layoff costs ...
M Henrekson, A Bjbrklund, SJ Davis… - The welfare state in …, 1997 - books.google.com
Contributors Thomas Aronsson Department of Economics Umea Universitet S-901 87
Umea, Sweden Anders Bjbrklund Swedish Institute for Social Research (SOFI) S-106 91
Stockholm, Sweden Steven J. Davis Graduate School of Business University of Chicago ...
[CITATION] Obsolescence, Uncertainty, and
L Ljungqvist… - 2005
L Ljungqvist - Institute for International Economic Studies, 1992 - su.diva-portal.org
Abstract. This paper studies corporate hedging when investors cannot observe firms'
hedging strategies but only realized profits. It is shown that managers acting in the best
interest of shareholders will sometimes choose speculative positions even when hedging ...
L Ljungqvist - Working papers, 1991 - ideas.repec.org
No abstract is available for this item. ... To our knowledge, this item is not available for
download. To find whether it is available, there are three options: 1. Check below under "Related
research" whether another version of this item is available online. 2. Check on the ...
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