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User profiles for author:"Yuriy Gorodnichenko"

Yuriy Gorodnichenko

Assistant professor of Economics, UC Berkeley
Verified email at econ.berkeley.edu
Cited by 908

Myth and reality of flat tax reform: Micro estimates of tax evasion response and welfare effects in Russia

[PDF] from gsu.edu
Y Gorodnichenko, J Martinez-Vazquez… - 2008 - nber.org
Using micro-level data, we examine the effects of Russia's 2001 flat rate income tax reform
on consumption, income, and tax evasion. We use the gap between household
expenditures and reported earnings as a proxy for tax evasion with data from a household ...
Cited by 84 - Related articles - Library Search - BL Direct - All 31 versions

Public sector pay and corruption: Measuring bribery from micro data

[PDF] from umich.edu
Full text - MIT Libraries
Y Gorodnichenko… - Journal of Public Economics, 2007 - Elsevier
This study provides the first systematic measure of bribery using micro-level data on
reported earnings, household spending and asset holdings. We use the compensating
differential framework and the estimated sectoral gap in reported earnings and ...
Cited by 78 - Related articles - Library Search - BL Direct - All 36 versions

Returns to schooling in Russia and Ukraine: A semiparametric approach to cross-country comparative analysis

[PDF] from 141.213.232.243
Full text - MIT Libraries
Y Gorodnichenko… - Journal of Comparative …, 2005 - Elsevier
Measuring the returns to schooling over an extended period in Russia and Ukraine from
1985 to 2002, we find an increase in both countries but the increase is much bigger in
Russia than in Ukraine. To investigate why returns to schooling in Russia and Ukraine ...
Cited by 62 - Related articles - Library Search - All 32 versions

Measuring the output responses to fiscal policy

[PDF] from berkeley.edu
AJ Auerbach, Y Gorodnichenko - 2010 - nber.org
A key issue in current research and policy is the size of fiscal multipliers when the economy
is in recession. Using a variety of methods and data sources, we provide three insights. First,
using regime-switching models, we estimate effects of tax and spending policies that can ...
Cited by 62 - Related articles - Library Search - All 18 versions

Financial constraints and innovation: Why poor countries don't catch up

[PDF] from berkeley.edu
Y Gorodnichenko… - 2010 - nber.org
This paper examines micro-level channels of how financial development can affect
macroeconomic outcomes like the level of income and export intensity. We investigate
theoretically and empirically how financial constraints affect a firm's innovation and export ...
Cited by 61 - Related articles - Library Search - All 48 versions

When does FDI have positive spillovers? Evidence from 17 emerging market economies

[PDF] from umich.edu
Y Gorodnichenko, J Svejnar… - 2008 - papers.ssrn.com
Abstract: We use firm-level data and national input-output tables from 17 countries over the
2002-2005 period to test new and existing hypotheses about the impact of foreign direct
investment (FDI) on the efficiency of domestic firms in the host country (ie, spillovers). ...
Cited by 51 - Related articles - All 32 versions

Border Effect or Country Effect?: Seattle May Not Be so Far from Vancouver after All

[PDF] from uwo.ca
Y Gorodnichenko… - 2005 - papers.ssrn.com
Abstract: This paper reexamines the evidence on the border effect. We argue that if there is
cross-country heterogeneity in the distribution of within-country price differentials, there is no
clear benchmark from which to gauge the effect of a border. In the absence of a structural ...
Cited by 46 - Related articles - All 18 versions

Endogenous information, menu costs and inflation persistence

[PDF] from berkeley.edu
Y Gorodnichenko - 2008 - nber.org
This paper develops a model where firms make state-dependent decisions on both pricing
and acquisition of information. It is shown that when information is not perfect, menu costs
combined with the aggregate price level serving as an endogenous public signal ...
Cited by 37 - Related articles - Library Search - All 13 versions

Monetary policy, trend inflation and the Great Moderation: An alternative interpretation

[PDF] from ku.edu
O Coibion, Y Gorodnichenko - 2008 - nber.org
With positive trend inflation, the Taylor principle is not enough to guarantee a determinate
equilibrium. We provide new theoretical results on restoring determinacy in New Keynesian
models with positive trend inflation and combine these with new empirical findings on the ...
Cited by 33 - Related articles - Library Search - All 21 versions

Monetary policy when potential output is uncertain: Understanding the growth gamble of the 1990s

[PDF] from umich.edu
Full text - MIT Libraries
Y Gorodnichenko, MD Shapiro - Journal of Monetary Economics, 2007 - Elsevier
The Fed kept interest rates low and essentially unchanged during the late 1990s despite a
booming economy and record-low unemployment. These interest rates were
accommodative by historical standards. Nonetheless, inflation remained low. How did the ...
Cited by 32 - Related articles - All 5 versions

Globalization and innovation in emerging markets

[PDF] from umich.edu
Y Gorodnichenko, J Svejnar… - 2008 - nber.org
Globalization brings opportunities and pressures for domestic firms in emerging markets to
innovate and improve their competitive position. Using data on firms in 27 emerging market
economies, we estimate the effects of foreign competition, vertical linkages with foreign ...
Cited by 27 - Related articles - Library Search - All 36 versions

Inequality and volatility moderation in Russia: Evidence from micro-level panel data on consumption and income

[PDF] from gsu.edu
Full text - MIT Libraries
Y Gorodnichenko, K Sabirianova Peter… - Review of Economic …, 2010 - Elsevier
We construct key household and individual economic variables using a panel micro data set
from the Russia Longitudinal Monitoring Survey (RLMS) for 1994–2005. We analyze cross-
sectional income and consumption inequality trends and find that inequality decreased ...
Cited by 24 - Related articles - Library Search - All 25 versions

What can survey forecasts tell us about informational rigidities?

[PDF] from bcrp.gob.pe
O Coibion, Y Gorodnichenko - 2008 - nber.org
This paper uses three different surveys of economic forecasts to assess both the support for
and the properties of informational rigidities faced by agents. Specifically, we track the
impulse responses of mean forecast errors and disagreement among agents after ...
Cited by 26 - Related articles - All 20 versions

Estimation of DSGE models when the data are persistent

[PDF] from nyfedeconomists.org
Full text - MIT Libraries
Y Gorodnichenko… - Journal of Monetary Economics, 2010 - Elsevier
Dynamic stochastic general equilibrium (DSGE) models are often solved and estimated
under specific assumptions as to whether the exogenous variables are difference or trend
stationary. However, even mild departures of the data generating process from these ...
Cited by 24 - Related articles - Library Search - All 28 versions

A Re-examination of the Border Effect

[PDF] from harvard.edu
Y Gorodnichenko… - 2005 - nber.org
This paper reexamines the evidence on the border effect, the finding that the border drives a
wedge between domestic and foreign prices. We argue that the border effect can be inflated
by the volatility and persistence of the nominal exchange rate and by the cross-country ...
Cited by 21 - Related articles - Library Search - BL Direct - All 20 versions

Globalization and innovation in emerging markets

Full text - MIT Libraries
Y Gorodnichenko, J Svejnar… - American economic …, 2010 - ingentaconnect.com
Abstract: Globalization brings opportunities and pressures for domestic firms in emerging
markets to innovate and improve their competitive position. Using data from 27 emerging
market economies, we estimate the effects of foreign competition and linkages with foreign ...
Cited by 24 - Related articles - All 5 versions

Information rigidity and the expectations formation process: A simple framework and new facts

[PDF] from berkeley.edu
O Coibion, Y Gorodnichenko - 2010 - nber.org
We propose a new approach to test of the null of full-information rational expectations which
is informative about whether rejections of the null reflect departures from rationality or full-
information. This approach can also quantify the economic significance of departures from ...
Cited by 21 - Related articles - Library Search - All 24 versions

Are oligarchs productive? Theory and evidence

[PDF] from iza.org
Full text - MIT Libraries
Y Gorodnichenko, Y Grygorenko - Journal of Comparative Economics, 2008 - Elsevier
This paper develops a partial equilibrium model to account for stylized facts about the
behavior of oligarchs, politically and economically strong conglomerates, in transition and
developing countries. The model predicts that oligarchs are more likely than other owners ...
Cited by 19 - Related articles - All 25 versions

Strategic interaction among heterogeneous price-setters in an estimated DSGE model

[PDF] from berkeley.edu
O Coibion, Y Gorodnichenko - 2008 - nber.org
We consider a DSGE model in which firms follow one of four price-setting regimes: sticky
prices, sticky-information, rule-of-thumb, or full-information flexible prices. The parameters of
the model, including the fractions of each type of firm, are estimated by matching the ...
Cited by 18 - Related articles - Library Search - All 17 versions

Culture, institutions and the wealth of nations

[PDF] from umich.edu
Y Gorodnichenko… - 2010 - nber.org
We construct an endogenous growth model that includes a cultural variable along the
dimension of individualism-collectivism. The model predicts that more individualism leads to
more innovation because of the social rewards associated with innovation in an ...
Cited by 20 - Related articles - Library Search - All 56 versions

Using firm optimization to evaluate and estimate returns to scale

[PDF] from econstor.eu
Y Gorodnichenko - 2007 - nber.org
At the firm level, revenue and costs are well measured but prices and quantities are not. This
paper shows that because of these data limitations estimates of returns to scale at the firm
level are for the revenue function, not production function. Given this observation, the ...
Cited by 17 - Related articles - Library Search - BL Direct - All 21 versions

The finnish great depression: From russia with love

[PDF] from iza.org
Y Gorodnichenko, EG Mendoza… - 2009 - nber.org
During the period 1991-93, Finland experienced the deepest economic downturn in an
industrialized country since the 1930s. We argue that the culprit behind this Great
Depression was the collapse of Finnish trade with the Soviet Union, because it induced a ...
Cited by 12 - Related articles - Library Search - All 49 versions

The optimal inflation rate in new keynesian models

[PDF] from wm.edu
O Coibion, Y Gorodnichenko… - 2010 - nber.org
We study the effects of positive steady-state inflation in New Keynesian models subject to
the zero bound on interest rates. We derive the utility-based welfare loss function taking into
account the effects of positive steady-state inflation and show that steady-state inflation ...
Cited by 10 - Related articles - Library Search - All 14 versions

Are airlines' price-setting strategies different?

[PDF] from oa.edu.ua
Full text - MIT Libraries
V Bilotkach, Y Gorodnichenko… - Journal of Air Transport …, 2010 - Elsevier
Using a sample of fare quotes for non-stop travel from New York to London, this paper
documents a set of stylized facts about pricing strategies of air carriers on this route. Two key
facts stand out. First, airlines appear to employ strikingly different pricing strategies. ...
Cited by 11 - Related articles - Library Search - All 12 versions

[CITATION] Monetary Policy and Forecast Dispersion: A Test of the Sticky Information Model

Y Gorodnichenko - University of Michigan, 2006
Cited by 9 - Related articles

[CITATION] Klara, 2005. Returns to schooling in Russia and Ukraine: A semiparametric approach to cross-country comparative analysis

Y Gorodnichenko, S Peter - Journal of Comparative Economics
Cited by 8 - Related articles - Get it from MIT Libraries

Monetary policy when potential output is uncertain: Understanding the growth gamble of the 1990s

[PDF] from umich.edu
Y Gorodnichenko, MD Shapiro - 2006 - nber.org
The Fed kept interest rates low and essentially unchanged during the late 1990s despite a
booming economy and record-low unemployment. These interest rates were
accommodative by historical standards. Nonetheless, inflation remained low. How did the ...
Cited by 8 - Related articles - Library Search - BL Direct - All 15 versions

Which Dimensions of Culture Matter for Long-Run Growth?

[PDF] from berkeley.edu
Full text - MIT Libraries
Y Gorodnichenko… - The American Economic …, 2011 - ingentaconnect.com
Abstract: We present empirical evidence that, among a variety of cultural dimensions, the
individualismcollectivism dimension, based on Hofstede's (2001) data, is the most important
and robustly significant effect of culture on long run growth. Other dimensions that have a ...
Cited by 11 - Related articles - All 9 versions

[PDF] Vertical and Horizontal FDI Spillovers in Transition Economies: Do Institutions Matter

[PDF] from ibusdept.com
Y Gorodnichenko, J Svejnar… - 2006 - files.ibusdept.com
Abstract This paper tests a number of hypotheses regarding the impact of foreign direct
investment (FDI) on the competitiveness (productivity) of domestic firms in the host country.
Using BEEPS data we are able to test traditional and new hypotheses with a larger ...
Cited by 7 - Related articles - View as HTML - All 5 versions

[CITATION] When Does FDI Have Positive Spillovers? Evidence from 17 Transition Economies

Y Gorodnichenko, J Svejnar… - 2007 - IZA Discussion Paper
Cited by 6 - Related articles

[PDF] Fiscal multipliers in recession and expansion

[PDF] from nber.org
A Auerbach… - 2011 - nber.org
In this paper, we estimate government purchase multipliers for a large number of OECD
countries, allowing these multipliers to vary smoothly according to the state of the economy and
using real-time forecast data to purge policy innovations of their predictable components. ...
Cited by 8 - Related articles - View as HTML - All 48 versions

[CITATION] Liquidity Constraints, Credit Market Development, and Tax Evasion

Y Gorodnichenko… - unpublished paper, 2007
Cited by 5 - Related articles

Why are target interest rate changes so persistent?

[PDF] from wm.edu
O Coibion, Y Gorodnichenko - 2011 - nber.org
While the degree of policy inertia in central banks' reaction functions is a central ingredient
in theoretical and empirical monetary economics, the source of the observed policy inertia in
the US is controversial, with tests of competing hypotheses such as interest-smoothing ...
Cited by 6 - Related articles - Library Search - All 12 versions

[CITATION] Consumption, Income, and Savings Behavior of Russian Households

Y Gorodnichenko, KS Peter… - unpublished paper, 2007
Cited by 5 - Related articles

[BOOK] Globalization and innovation in emerging markets

[PDF] from nida.ac.th
Y Gorodnichenko, J Svejnar, K Terrell… - 2009 - papers.ssrn.com
Abstract: Globalization brings opportunities and pressures for domestic firms in emerging
markets to innovate and improve their competitive position. Using data on firms in 27
transition economies, the authors test for the effects of globalization through the impact of ...
Cited by 6 - Related articles - Get it from MIT Libraries - Library Search - All 14 versions

[PDF] Effects of Intergovernmental Aid on Fiscal Behavior of Local Governments: The Case of Ukraine

[PDF] from kse.org.ua
Y Gorodnichenko - 2001 - kse.org.ua
Transition from a command economy to a market one is a process that involves major
changes in public finance, a cornerstone of reforms. The success of the reforms, to a great
extent, depends on whether the state can commit itself to preserving and protecting private ...
Cited by 4 - Related articles - View as HTML - All 9 versions

[PDF] The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the ZLB?

[PDF] from berkeley.edu
O Coibion, Y Gorodnichenko… - 2011 - econ.berkeley.edu
Abstract: We study the effects of positive steady-state inflation in New Keynesian models
subject to the zero bound on interest rates. We derive the utility-based welfare loss function
taking into account the effects of positive steady-state inflation and solve for the optimal ...
Cited by 3 - Related articles - View as HTML - Get it from MIT Libraries - All 5 versions

Financial constraints and continental business groups: Evidence from German Konzerns

Y Gorodnichenko, D Schaefer… - Research in International …, 2009 - Elsevier
Using a unique large panel of German firms, we examine whether participation in business
groups (Konzerns) reduces the sensitivity of investment to cash flow. The main finding is that
the investment sensitivity is significantly reduced for small firms. On the other hand, we do ...
Cited by 3 - Related articles - All 5 versions

[PDF] Border Effect or Country Effect? Seattle is 110 Miles from Vancouver After All

[PDF] from uwo.ca
Y Gorodnichenko… - Manuscript, University of California …, 2007 - economics.uwo.ca
ABSTRACT This paper reexamines the evidence on the border effect, the finding that the
border drives a wedge between domestic and foreign prices. We argue that if there is cross-
country heterogeneity in the distribution of within-country price differentials, there is no ...
Cited by 3 - Related articles - View as HTML - All 8 versions

[PDF] Using firm optimization to evaluate and estimate productivity and returns to scale

[PDF] from berkeley.edu
Y Gorodnichenko - University of California, Berkeley, 2010 - elsa.berkeley.edu
Abstract At the firm level, revenue and costs are well measured but prices and quantities are
not. This paper shows that because of these data limitations estimates of returns to scale at
the firm level are for the revenue function, not production function. Given this observation, ...
Cited by 3 - Related articles - View as HTML - All 5 versions

[PDF] Reduced-Rank Identification of Structural Shocks in VARs

[PDF] from berkeley.edu
Y Gorodnichenko - University of California, Berkeley, 2005 - elsa.berkeley.edu
Abstract This paper integrates imposing a factor structure on residuals in vector
autoregressions (VARs) into structural VAR analysis. Identification, estimation and testing
procedures are discussed. The paper applies this approach to the well-known problem of ...
Cited by 3 - Related articles - View as HTML - All 15 versions

[CITATION] Klara Sabirianova Peter, 2008.“Myth and Reality of Flat Tax Reform: Micro Estimates of Tax Evasion and Productivity Response in Russia,”

Y Gorodnichenko… - NBER Working Paper
Cited by 2 - Related articles

[CITATION] Relative Property Rights in Transition Economies: Can the Oligarchs Be Productive?

Y Grygorenko, Y Gorodnichenko… - Economics Education and Research …, 2006
Cited by 2 - Related articles

[CITATION] Cu lture, Institutions and the Wealth of Nations

R Gerard, Y Gorodnichenko - University of California Berkeley working paper, 2011
Cited by 2 - Related articles

[CITATION] Globalization and Innovation in Emerging Markets

G Yuriy, J Svejnar… - NBER Working Paper, 2008
Cited by 2 - Related articles

[CITATION] Trade and transition dynamics in the Finnish depression

Y Gorodnichenko, E Mendoza… - Manuscript. University of Michigan, 2007
Cited by 2 - Related articles

[PDF] A Bumpy Ride along the Kuznets Curve: Consumption and Income Inequality Dynamics in Russia

[PDF] from iza.org
Y Gorodnichenko, KS Peter… - unpublished paper, 2008 - iza.org
Abstract We construct key household and individual economic variables using a panel micro
data set from the Russia Longitudinal Monitoring Survey (RLMS) for 1994-2005. We analyze
cross-sectional income and consumption inequality and find that inequality decreased ...
Cited by 2 - Related articles - View as HTML - All 3 versions

[CITATION] Strategic Complementarity among Heterogeneous Price-Setters: An Estimated DSGE Approach

O Coibion, Y Gorodnichenko - 2006 - Manuscript
Cited by 2 - Related articles

[CITATION] Dmitriy, 2009. Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income

Y Gorodnichenko, S Peter… - NBER working paper
Cited by 2 - Related articles

[CITATION] Horizontal and vertical spillovers in transition economies: do institutions matter?

Y Gorodnichenko, J Svejnar… - University of Michigan, mimeo, 2007
Cited by 2 - Related articles

[CITATION] Culture, Institutions and Long Run Growth

Y Gorodnichenko… - NBER Working Paper, 2010
Cited by 2 - Related articles

[CITATION] Estimating Returns to Scale: Critique of Popular Estimators and New Solutions to Old Problems

Y Gorodnichenko - … paper, Department of Economics, University of …, 2005
Cited by 2 - Related articles

Individualism, innovation, and long-run growth

Full text - MIT Libraries
Y Gorodnichenko… - Proceedings of the National …, 2011 - National Acad Sciences
Abstract Countries having a more individualist culture have enjoyed higher long-run growth
than countries with a more collectivist culture. Individualist culture attaches social status
rewards to personal achievements and thus, provides not only monetary incentives for ...
Cited by 1 - Related articles - All 2 versions

Globalization and innovation in emerging markets

[TXT] from amazonaws.com
K Terrell, Y Gorodnichenko… - 2009 - … .us-east-1.elb.amazonaws.com
Globalization brings opportunities and pressures for domestic firms in emerging markets to
innovate and improve their competitive position. Using data on firms in 27 transition
economies, the authors test for the effects of globalization through the impact of increased ...
Cited by 1 - Related articles - All 3 versions

Macroeconomic forecasts for transition countries

Y Gorodnichenko - idea-files.cerge-ei.cz
Page 1. Macroeconomic forecasts for transition countries Yuriy Gorodnichenko University of
Michigan Page 2. Challenges and objectives Objectives: • Precise • Real time • Cheap Challenges:
• short time series • structural changes • poor quality of data Page 3. Countries ...
View as HTML - All 7 versions

[PDF] PRIVATE-PUBLIC WAGE GAP AND BRIBERY: AN EXAMPLE OF UKRAINE

[PDF] from eea-esem.com
Y Gorodnichenko… - 2006 - eea-esem.com
Abstract Corruption is social scourge in developing and transition countries. Yet, available
estimates of bribery are subjective, sporadic and imprecise. In this paper we develop a
framework to assess quantitatively the extent of bribery from data on labor market ...
Related articles - View as HTML

[PDF] Relative property rights in transition economies

[PDF] from eerc.ru
Y Grygorenko, Y Gorodnichenko… - 2006 - eerc.ru
Empirical evidence suggests that Ukrainian ferrous metal industry exhibits extremely low
capacity utilization rates. This project seeks to explain this phenomenon within the
framework of the property rights approach. A solution to the problem is proposed via ...
Related articles - View as HTML - All 10 versions

Using the Survey of Plant Capacity to Measure Capital Utilization

[PDF] from umich.edu
Y Gorodnichenko… - … Studies Paper No. CES-WP-11-19, 2011 - papers.ssrn.com
Abstract: Most capital in the United States is idle much of the time. By some measures, the
average workweek of capital in US manufacturing is as low as 55 hours per 168 hour week.
The level and variability of capital utilization has important implications for understanding ...
Cited by 1 - Related articles - All 5 versions

DP5585 Public Sector Pay and Corruption: Measuring Bribery from Micro Data

Y Gorodnichenko… - 2006 - cepr.org
This study is the first to provide a systematic measure of bribery using micro-level data on
reported earnings, household spending and asset holdings. We use the compensating
differential framework and the estimated sectoral gap in reported earnings and ...
Cached - All 4 versions

Financial Constraints and Continental Business Groups: Evidence from German Konzerns PDF Logo

[PDF] from econstor.eu
D Schäfer, Y Gorodnichenko… - 2006 - econstor.eu
Zusammenfassung: Using a unique, large panel of German firms, we examine whether
participation in business groups reduces the sensitivity of investment to cash flow. The main
finding is that the reduction in the sensitivity is small for small firms and negligible for ...
Related articles

[PDF] Myth and Reality of Flat Tax Reform: Tax Evasion and Real Side Response of Russian Households

[PDF] from gsu.edu
Y Gorodnichenko, J Martinez-Vazquez… - … Program Working Paper …, 2007 - aysps.gsu.edu
Abstract We use detailed micro-level data on consumption and income for a 1998-2004
panel of Russian households to study the effects of the flat income tax reform in 2001. We
show that the gap between household expenditures and reported income is a meaningful ...
Related articles - All 7 versions

[PDF] Inequality and Volatility Moderation in Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income

[PDF] from gsu.edu
Y Gorodnichenko… - 2009 - aysps.gsu.edu
Abstract We construct key household and individual economic variables using a panel micro
data set from the Russia Longitudinal Monitoring Survey (RLMS) for 1994-2005. We analyze
cross-sectional income and consumption inequality and find that inequality decreased ...
Related articles

Monetary Policy, Trend Inflation, and the Great Moderation: An Alternative Interpretation

Y Gorodnichenko, O Coibion - 2009 - papers.ssrn.com
Abstract: With positive trend inflation, the Taylor principle is not enough to guarantee a
determinate equilibrium. We provide new theoretical results on restoring determinacy in
New Keynesian models with positive trend inflation and combine these with new empirical ...
Related articles

[CITATION] Code and data files for" Inequality and Volatility Moderation in Russia: Evidence from Micro-Level Panel Data on Consumption and Income"

Y Gorodnichenko, KS Peter… - Computer Codes, 2009 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to view
it first. Information about this may be contained in the File-Format links below. In case of further
problems read the IDEAS help page. Note that these files are not on the IDEAS site. ...
Cached - All 3 versions

[PDF] The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?

[PDF] from restud.com
O COIBION, Y GORODNICHENKO… - restud.com
We study the effects of positive steady-state inflation in New Keynesian models subject to
the zero bound on interest rates. We derive the utility-based welfare loss function taking into
account the effects of positive steady-state inflation and solve for the optimal level of ...
Related articles - View as HTML - All 2 versions

Estimation of DSGE Models When the Data are Persistent

S Ng… - Ann Arbor - papers.ssrn.com
Abstract: Dynamic Stochastic General Equilibrium (DSGE) models are often solved and
estimated under specific assumptions as to whether the exogenous variables are difference
or trend stationary. However, even mild departures of the data generating process from ...

[PDF] Sensitivity of Prices to Demand Shocks: A Natural Experiment in the San Francisco Bay Area

[PDF] from berkeley.edu
V Bilotkach, Y Gorodnichenko… - University of East Anglia …, 2010 - elsa.berkeley.edu
1 According to T-100 dataset of the US Department of Transportation, total capacity (in terms
of number of seats offered by the commercial airlines in connection with their scheduled
services within the United States) increased across all three area airports from April to ...
Related articles - View as HTML - All 12 versions

DP6546 When Does FDI Have Positive Spillovers? Evidence from 17 Emerging Market Economies

Y Gorodnichenko, J Svejnar… - 2007 - cepr.org
We use firm-level data and national input-output tables from 17 countries over the 2002-
2005 period to test new and existing hypotheses about the impact of foreign direct
investment (FDI) on the efficiency of domestic firms in the host country (ie, spillovers). ...
Cached - All 4 versions

Are Airlines? Price-Setting Strategies Different? PDF Logo

[PDF] from econstor.eu
V Bilotkach, Y Gorodnichenko, O Talavera… - 2006 - econstor.eu
Zusammenfassung: Using a sample of fare quotes for non-stop travel from New York to
London, this paper investigates the dynamics of offered fares as the departure date nears.
We find that the general trend is toward fare increase at an accelerated rate as the ...
Related articles

DP7721 Financial constraints and innovation: Why poor countries don't catch up

Y Gorodnichenko… - 2010 - cepr.org
This paper examines micro-level channels of how financial development can affect
macroeconomic outcomes such as the level of income and export intensity. Specifically, the
paper investigates theoretically and empirically how financial constraints affect a firm's ...
Cached - All 3 versions

[PDF] Monetary Policy and Economic Inequality in the United States

[PDF] from interdependence.org
J Silvia, W Fargo, O Coibion… - 2012 - interdependence.org
Abstract We study the effects and historical contribution of monetary policy shocks to
consumption and income inequality in the United States. Contractionary monetary policy
actions systematically increase inequality in labor earnings, total income, consumption ...
View as HTML

DP8013 Culture, Institutions and the Wealth of nations

Y Gorodnichenko… - 2010 - cepr.org
We construct an endogenous growth model that includes a cultural variable along the
dimension of individualism-collectivism. The model predicts that more individualism leads to
more innovation because of the social rewards associated with innovation in an ...
Cached - All 3 versions

Relative property rights in transition economies: Can the oligarchs be productive?

Y Gorodnichenko, G Yegor… - EERC Working Paper …, 2006 - econpapers.repec.org
Empirical evidence suggests that Ukrainian ferrous metal industry exhibits extremely low
capacity utilization rates. This project seeks to explain this phenomenon within the
framework of the property rights approach. A solution to the problem is proposed via ...
Cached - All 4 versions

[PDF] Myth and Reality of Flat Tax Reform: Myth and Reality of Flat Tax Reform: Micro Estimates of Tax Evasion Response and Welfare Effects in Russia

[PDF] from gsu.edu
Y Gorodnichenko… - 2007 - aysps.gsu.edu
Abstract Using micro-level data, we examine the effects of Russia's 2001 flat rate income tax
reform on consumption, income, and tax evasion. We use the gap between household
expenditures and reported earnings as a proxy for tax evasion with data from a household ...
Related articles - All 2 versions

[CITATION] You Are Here

JA Powell, D Ahn, B DeLong… - STAINED GLASS- …, 1997 - econ.berkeley.edu
*** PAPERS WILL BE AVAILABLE IN 611 EVANS HALL UNLESS NOTED OTHERWISE *** ALL
SEMINARS ARE OPEN TO THE PUBLIC. ANYONE INTERESTED IS INVITED. We ask that individuals
requesting sign language interpreters or listening devices make their requests to the ...
Cached - BL Direct

[CITATION] Monetary Policy When Potential Output Is Uncertain: Understanding the Growth Gamble of the 1990s

MD Shapiro, Y Gorodnichenko - 2006

2. Foreign direct investment spillovers in emerging market economies

Y Gorodnichenko, J Svejnar… - Foreign direct investment …, 2007 - books.google.com
For most of the post-World War II period, official foreign assistance exceeded private capital
flows to developing countries. However, the capital account liberalization that has taken
place around the world in the last two decades has brought about a reversal: in each year ...
Related articles - All 2 versions

Public Sector Pay and Corruption: Measuring Bribery from Micro Data

K Sabirianova Peter… - CEPR Discussion Paper …, 2006 - papers.ssrn.com
Abstract: This study is the first to provide a systematic measure of bribery using micro-level
data on reported earnings, household spending and asset holdings. We use the
compensating differential framework and the estimated sectoral gap in reported earnings ...
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[CITATION] How do airlines set the fares?

Y Gorodnichenko, O Talavera… - 2006
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[CITATION] The Finnish Depression: From Russia WITH LOVE

Y Gorodnichenko, EG Mendoza
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Financial Constraints and Continental Business Groups: Evidence from German Konzerns

D Schäfer, Y Gorodnichenko… - Discussion Papers of DIW …, 2006 - ideas.repec.org
Using a unique, large panel of German firms, we examine whether participation in business
groups reduces the sensitivity of investment to cash flow. The main finding is that the
reduction in the sensitivity is small for small firms and negligible for medium and large ...
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How Firms Absorb Demand Side Shocks: Evidence from a Natural Experiment

Y Gorodnichenko, O Talavera… - 2008 - papers.ssrn.com
Abstract: We analyze impact of the freeway interchange collapse in San Francisco Bay area
on difference in airfare quotes for travel into the area's three main airports. The incident
temporarily made Oakland airport a less attractive choice for traveling to San Francisco, so ...
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[PDF] Inequality in Russia during 1994-2005

[PDF] from nes.ru
Y Gorodnichenko, KS Peter… - 2007 - nes.ru
Abstract We analyze the cross-sectional and time series behavior of some key household
and individual economic variables using the panel micro data from the Russia Longitudinal
Monitoring Survey for 1994-2005. We compare our results to the official statistics and find ...
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[CITATION] TAX EVASION AND REAL-SIDE EFFECTS OF FLAT TAX: LESSONS FROM THE RUSSIAN TAX REFORM

Y Gorodnichenko, J Martinez-Vazquez… - 2007
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[CITATION] Globalization, COMPETITION and Innovation in Emerging Markets

YGJSK Terrell
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[PDF] Understanding the Individualism-Collectivism Cleavage and its Effects: Lessons from Cultural Psychology.

[PDF] from berkeley.edu
Y Gorodnichenko… - elsa.berkeley.edu
Abstract: In this paper, we survey our recent work showing theoretically and empirically a
link between individualist culture on one hand and long run growth and innovation. The
individualism-collectivism cultural dimension is the only one that has a robust effect on ...
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[CITATION] University of Michigan October 22, 2006 JOB MARKET PAPER

Y Gorodnichenko - 2006
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Essays in macroeconomics

Y Gorodnichenko - 2008 - gradworks.umi.com
The second chapter develops a theoretical, micro-founded model of pricing decisions and acquisition
of information to explain the delayed response of inflation to nominal shocks as well as other
facts about pricing at both the macro and micro levels. This model provides an ...
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[DOC] When will the Fed raise interest rates? Reconciling Taylor rule and financial market forecasts

[DOC] from tek.org.tr
O Coibion, Y Gorodnichenko - tek.org.tr
How long will US interest rates remain so low? This column argues that estimates using the
1993 Taylor rule are concentrating on the output gap, whereas in reality the Fed places
much greater emphasis on output growth. Using an updated Taylor rule, this column ...
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