G Ramey… - 1994 - nber.org
This paper presents empirical evidence against the standard dichotomy in macroeconomics
that separates growth from the volatility of economic fluctuations. In a sample of 92 countries
as well as a sample of OECD countries, we find that countries with higher volatility have ...
WJ Haan, G Ramey… - 1997 - nber.org
We develop and quantitatively implement a dynamic general equilibrium model with labor"
market matching and endogenous job destruction. The model produces a close match with
data on" job creation and destruction. Cyclical fluctuations in the job destruction rate serve ...
K Bagwell… - The American Economic Review, 1994 - JSTOR
We introduce a model of the retail firm in which consumers and active firms benefit
collectively from coordination of sales at fewer firms. Using this model, we show that
ostensibly uninformative advertising plays a key role in bringing about coordination ...
K Bagwell… - The Rand Journal of Economics, 1988 - JSTOR
We enrich Milgrom and Roberts'(1982) limit-pricing model to allow an incumbent to signal
his costs with both price and advertisements. Our fundamental result is that a cost-reducing
distortion occurs, in that the incumbent behaves as if there were complete information but ...
S Fujita… - International Economic Review, 2009 - Wiley Online Library
This article uses CPS gross flow data to analyze the business cycle dynamics of separation
and job finding rates and quantify their contributions to overall unemployment variability.
Cyclical changes in the separation rate are negatively correlated with changes in ...
G Ramey… - The Quarterly Journal of Economics, 1997 - qje.oxfordjournals.org
Abstract We develop a theory of labor contracting in which negative productivity shocks lead
to costly job loss, despite unlimited possibilities for renegotiating wage contracts. Such
fragile contracts emerge from firms' trade-offs between robustness of incentives in ongoing ...
K Bagwell… - The Rand Journal of Economics, 1991 - JSTOR
We expand Milgrom and Roberts'(1982) limit pricing model to allow for multiple incumbents.
Each incumbent is informed as to the level of an industry cost parameter and selects a
preentry price while a single entrant observes each incumbent's preentry price. We find ...
G Ramey… - 1991 - nber.org
When firms must make technology commitments, economic fluctuations impose costs in the
form of ex post inefficiency in production technology. We present a general equilibrium
model in which, due to the presence of technology commitment, greater volatility of ...
GW Evans… - The American Economic Review, 1992 - JSTOR
We establish a framework wherein agents make expectation-revision decisions subject to a
specified calculation technology and preferences over forecast errors. The technology
endows agents with correctly specified economic models, but the cost of expectation ...
LL Leslie… - The Journal of Higher Education, 1988 - JSTOR
Research on voluntary support of higher education suggests that donor behavior is best
understood on a subgroup basis, that institutional size is important to most donor groups,
and institutional quality is of significance to all groups, except alumni. Long-standing ties ...
WD Haan, C Haefke… - 2001 - nber.org
This paper explains the divergent behavior of European and US unemployment rates using
a job market matching model of the labor market with an interaction between shocks and
institutions. It shows that a reduction in TFP growth rates, an increase in real interest rates, ...
WJ Den Haan, G Ramey… - Journal of Monetary Economics, 2003 - Elsevier
This paper develops a macroeconomic model in which funds are channeled to
entrepreneurs through long-term relationships between entrepreneurs and lenders. The flow
of funds to a relationship may be low, causing it to break up due to insufficient liquidity. ...
K Bagwell… - The Review of Economic Studies, 1994 - restud.oxfordjournals.org
Abstract When market information such as price is difficult to communicate, consumers and
firms may be unable to take advantage of mutually beneficial scale economies, so that
coordination failures arise. Ostensibly uninformative advertising expenditures can be used ...
GW Evans… - Journal of monetary economics, 2006 - Elsevier
A striking implication of the replacement of adaptive expectations by rational expectations
was the “Lucas critique,” which showed that expectation parameters, and endogenous
variable dynamics, depend on policy parameters. We consider this issue from the vantage ...
S Fujita… - Journal of Economic Dynamics and Control, 2007 - Elsevier
In the US labor market, the vacancy-unemployment ratio and employment react sluggishly to
productivity shocks. We show that the job matching model in its standard form cannot
reproduce these patterns due to excessively rapid vacancy responses. Extending the ...
K Bagwell… - International Journal of Industrial Organization, 1990 - Elsevier
Abstract We consider the advertising and pricing strategies of an incumbent firm who is
concerned with deterring or accommodating entry and privately informed as to the level of
market demand. Our fundamental result is that a demand-exaggerating distortion occurs: if ...
K Bagwell, G Ramey… - The RAND Journal of Economics, 1997 - JSTOR
We develop a model of retail competition in which retailers select prices and investments in
cost reduction. An equilibrium is constructed in which several identical firms enter and then
engage in a phase of vigorous price competition. This phase is concluded with a" ...
S Fujita… - 2006 - papers.ssrn.com
Abstract: In this paper the authors study the cyclical behavior of job loss and hiring using
CPS worker flow data, adjusted for margin error and time aggregation error. The band pass
filter is used to isolate cyclical components. They consider both total worker flows and ...
DM Kreps… - Econometrica: Journal of the Econometric Society, 1987 - JSTOR
In an extensive form game, a strategy profile is a sequential equilibrium if there are
consistent beliefs at all information sets which, with the strategy profile, are sequentially
rational at every information set. Along the equilibrium path, consistent beliefs are ...
G Ramey - Journal of Economic Theory, 1996 - Elsevier
This note extends Cho and Sobel's (J. Econ. Theory50 (1990), 381–413) existence and
uniqueness results for D1 equilibria of signaling games with multiple signals by (i) specifying
that types are drawn from a compact interval, and (ii) invoking a more general incentive ...
NA Menezes-Filho, MA Muendler… - The Review of Economics …, 2008 - MIT Press
Abstract We employ comprehensive linked employer-employee data for Brazil to analyze
wage determinants and compare results to Abowd et al.(2001) for French and US
manufacturing. While returns to human capital in Brazilian manufacturing exceed those of ...
S Greenstein… - International Journal of Industrial Organization, 1998 - Elsevier
We reassess Arrow's (1962)[Economic Welfare and the Allocation of Resources for
Invention, in NBER, The Rate and Direction of Innovative Activity (Princeton University
Press, Princeton NJ)] results concerning the effect of market structure on the returns from ...
WJ Haan, C Haefke… - Journal of the European …, 2005 - Wiley Online Library
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s
can be explained by a rise in economic turbulence, leading to greater numbers of
unemployed workers with obsolete skills. These workers refuse new jobs due to high ...
MT Owyang… - Journal of Monetary Economics, 2004 - Elsevier
This paper applies regime-switching methods to the problem of measuring monetary policy.
Policy preferences and structural factors are specified parametrically as independent
Markov processes. Interaction between the structural and preference parameters in the ...
K Bagwell… - The Rand Journal of Economics, 1996 - JSTOR
When avoidable fixed costs are introduced into the entry model of Dixit (1980) and Ware
(1984), there arises a coordination problem in selecting among postentry Nash equilibria.
Elimination of weakly dominated strategies allows the entrant to use a market-capturing ...
S Fujita, G Ramey… - 2007 - papers.ssrn.com
Abstract: In a recent influential paper, Shimer uses CPS duration and gross flow data to draw
two conclusions:(1) separation rates are nearly acyclic; and (2) separation rates contribute
little to the variability of unemployment. In this paper the authors assert that Shimer's ...
G Ramey… - Journal of Law, Economics, and …, 2002 - Oxford Univ Press
Abstract This article analyzes the role of third‐party intermediaries in contract enforcement.
In our model, intermediaries record information about past actions and resolve disputes
when requested to do so by the contracting agents. When the verifiability of information is ...
S Fujita… - FRB Philadelphia Working Paper No. 05-22, 2005 - papers.ssrn.com
Abstract: In aggregate US data, exogenous shocks to labor productivity induce highly
persistent and hump-shaped responses to both the vacancy-unemployment ratio and
employment. The authors show that the standard version of the Mortensen-Pissarides ...
WJ Den Haan, G Ramey, J Watson - Carnegie-Rochester Conference …, 2000 - Elsevier
This paper evaluates a class of endogenous job destruction models based on how well they
explain the observed experiences of displaced workers. We show that pure reallocation
models in which relationship-specific productivity drifts downward over time are difficult to ...
GW Evans… - Macroeconomic Dynamics, 1998 - Cambridge Univ Press
We propose an active cognition approach to bounded rationality, in which agents use a
calculation algorithm to improve on the forecasts provided by a purely adaptive learning rule
such as least-squares learning. Agents' choices of calculation intensity depend on their ...
LL Leslie… - The Journal of Higher Education, 1986 - JSTOR
Part of the conventional wisdom of higher education financing is that increasing enrollment
is a means to fiscal health. This study found, however, that added enrollments commonly
reflected a net financial loss in appropriations per student for public institutions of higher ...
G Ramey… - Contributions in Theoretical Economics, 2001 - degruyter.com
We develop a model of bilateral contracting in a dynamic market setting. Asset owners must
be paired via a matching process in order to form productive relationships involving long-
term investments and ongoing effort. Market frictions shape the owners' incentives to ...
M Klimenko, G Ramey… - Journal of International Economics, 2008 - Elsevier
This paper presents a theory of dynamic trade agreements in which external institutions,
such as the WTO, play a central role in supporting credible enforcement. In our model,
countries engage in ongoing negotiations, and, as a consequence, cooperative ...
G Ramey - 2008 - escholarship.org
Abstract: This paper assesses how various approaches to modelling the separation margin
a¤ ect the ability of the Mortensen-Pissarides job matching model to explain key facts about
the aggregate labor market. Allowing for realistic time variation in the separation rate, ...
K Bagwell… - Journal of Economics & Management …, 1993 - Wiley Online Library
We consider communication of quality via cheap talk and dissipative advertising
expenditures, when consumers have heterogeneous tastes for quality, and price information
must be acquired through costly search. For search pods, cheap talk communicates ...
[CITATION] Product Inertia and the Incentive to Innovate
S Greenstein… - CEPR Technical Paper, 1988
G Ramey, J Watson… - 1996 - en.scientificcommons.org
Abstract We develop a model of bilateral contracting in a dynamic market setting. Asset
owners must be paired via a matching process in order to form productive relationships
involving long-term investments and ongoing effort. Market frictions shape the owners' ...
L Leslie, SS Drachman, CF Conrad… - Journal of Education …, 1983 - JSTOR
Page 1. Journal of education finance 9 (Fall, 1983), 213-225 Factors Accounting For
Variations Over Time in Voluntary Support For Colleges and Universities Larry Leslie,
Sally S. Drachman, Clifton F. Conrad, and Garey W. Ramey ...
MA Muendler, J Poole, G Ramey… - University of California, …, 2004 - dss.ucsd.edu
Numerous statistical and economic investigations into labor market performance and
beyond rely on a classification of occupations. Brazil's occupational classification system
CBO (Classificaçao Brasileira de Ocupaçoes) from 1994 classifies jobs in an hierarchical ...
GW Evans… - The new macroeconomics: imperfect …, 1995 - books.google.com
Economists widely agree that inflation expectations play a crucial role in hyperinflationary
episodes. There is little agreement, however, on how these expectations are formed, and
two competing approaches to the question of expectation formation have emerged. On ...
S Fujita, C Nekarda… - FRB of Philadelphia Working …, 2007 - papers.ssrn.com
Abstract: Drawing on CPS data, the authors show that total monthly job loss and hiring
among US workers, as well as job loss hazard rates, are strongly countercyclical, while job
finding hazard rates are strongly procyclical. They also find that total job loss and job loss ...
WJ Haan, G Ramey… - 1999 - nber.org
This paper develops a theoretical framework for analyzing contracting imperfections in long-
term employment relationships. We focus chiefly on limited enforceability and limited worker
liquidity. Inefficient severance of employment relationships, payment of efficiency wages, ...
M Klimenko, J Watson… - 2001 - papers.ssrn.com
Abstract: This paper presents a theory of dynamic trade agreements in which external
institutions, such as the WTO, play a central role in supporting credible enforcement. In our
model, countries engage in ongoing negotiations, and as a consequence cooperative ...
[CITATION] Moral hazard, signaling, and product quality
G Ramey - Department of Economics, Stanford University, …, 1986
K Bagwell… - Northwestern University, vISEMS …, 1990 - kellogg.northwestern.edu
We show that when relevant market information such as price is difficult to communicate,
advertising plays a key role in bringing about optimal coordination of purchase behavior: an
efficient firm uses advertising expenditures in place of price to inform sophisticated ...
[CITATION] Limit Pricing and Sequential Capacity Choice
G Ramey - University of California at San Diego, 1987
[CITATION] Trade liberalization and worker displacement from Brazilian manufacturing, 1990-1998–Request for data match and tabulations
NA Menezes-Filho, M Mundler… - 2003 - UCSD
[CITATION] oThe Cyclicality of Separation and Job Find% ing Ratesp
S Fujita… - 2007 - … 07% 19, Federal Reserve Bank of …
K Bagwell… - Discussion Papers, 1995 - ideas.repec.org
This paper considers pricing, cost-reducing investment and dissipative advertising by firms
when consumers acquire price information via two information channels, observation of
advertising and sequential price search. We find that advertising guides consumers to the ...
K Bagwell… - Northwestern University, Center …, 1996 - kellogg.northwestern.edu
ABSTRACT This paper considers pricing, cost-reducing investment and dissipative
advertising by firms when consumers acquire price information via two information channels,
observation of advertising and sequential price search. We find that advertising guides ...
[CITATION] forthcoming.“The Cyclicality of Separation and Job Finding Rates.”
S Fujita… - International Economic Review
[CITATION] Joel Watson (2000).“Job destruction and the experiences of displaced workers “
WJ den Haan… - Carnegie-Rochester Conference Series on Public …
K Bagwell, G Ramey… - 1992 - europealumni.kellogg.northwestern. …
Many observed advertisements seem at odds with rational behavior. In a variety of ads,
mostly on TV and radio, multiproduct sellers provide little hard information, choosing instead
to impart only vague slogans that arc suggestive of good deals. Examples arc plentiful: a ...
[CITATION] Joel Watson (2008), kRecurrent Trade Agreements and the Value of External Enforcement, lJournal of International Economics, 74 (2)
M Klimenko… - $499, March
G Ramey… - 2000 - escholarship.org
Abstract: We propose a theory of contracting in long-term relationships, emphasizing the role
of social institutions in conditioning players' joint selection of equilibria. Players adopt a
social conditioning system in order to place boundaries on their recurrent negotiation and ...
G Ramey… - 2006 - escholarship.org
Abstract: We study the cyclical behavior of job loss and hiring using CPS worker flow data,
adjusted for margin error and time aggregation error. The band pass filter is used to isolate
cyclical components. We consider both total worker flows and transition hazard rates ...
[CITATION] mReassessing the Shimer Facts. nFederal Reserve Bank of Philadelphia
S Fujita… - 2007 - Working Paper, 07% 2
[CITATION] VShocks and Institutions in a Job Matching Model, V University of California at San Diego
WJ Den Haan, C Haefke… - … Working Paper Series 2001&14, Department of …, 2001
[CITATION] Job destruction and propagation of shocks, University of California
WJ Den Haan, G Ramey… - 1997 - San Diego, Discussion Paper 97-23
[CITATION] The Cycality of Worker Flows: New Evidence from the SIPP
S Fujita, CJ Nekarda… - 2007 - … Paper 07-05, Federal Reserve Bank …
[CITATION] Adaptive Expectations
GW Evans… - … and the Lucas Critique,” Working Paper, 2003
G Ramey… - 1996 - en.scientificcommons.org
Publikationsansicht. 33989500. Equilibrium R&D with an Infinite Sequence of Innovations. Garey
Ramey. Details der Publikation. Archiv, RePEc (Germany). Typ, preprint. ...
[CITATION] Valerie. 1995.“Cross-Country Evidence of the Link Between Growth and Volatility.”
G Ramey - American Economic Review
[CITATION] Joel Watson.“Job Destruction and Propogation of Shocks.”
W den Haan… - The American Economic Review, 2000
[CITATION] The Dynamic Beveridge Curve. University of San Diego
S Fujita… - Economics Working Paper Series, 2005
[CITATION] rThe Cyclicality of Separation and Job Finding Rates, sInternational Economic Review forthcoming
S Fujita… - 2008
LL Leslie… - Currents, 1985 - eric.ed.gov
EJ323935 - What Appeals to Whom?.
K Bagwell… - Discussion Papers, 1988 - kellogg.northwestern.edu
A great deal of advertising contains little or no direct information. Yet advertisements are
quite costly to produce and must therefore have some effect on consumer behavior. A
challenge for economists is to reconcile the observation of dissipative or wasteful ...
LL Leslie… - 1986 - eric.ed.gov
Abstract: Voluntary support of higher education in America is investigated through
regression analysis of institutional characteristics at two points in time. The assumption of
donor rationality together with explicit consideration of interorganizational relationships ...
[CITATION] Ramey, V.(1991) Technology commitment and the cost of economic fluctuations
G Ramey - NBER Working Paper
G Ramey - journal of economic theory, 1996 - upi-yptk.ac.id
The equilibrium refinement Criterion D1, which is motivated by Kohlberg and Mertens'[10]
concept of strategic stability for finite games, has been usefully applied to infinite-strategy
signaling games in order greatly to reduce the set of sequential equilibria. Cho and Sobel ...
NAM Filhoz, MA Muendler… - 2005 - escholarship.org
Abstract: We employ a comprehensive matched employer-employee data set for Brazil to
analyze wage determinants and compare results to Abowd, Kramarz, Margolis and Troske
(2001) for French and US manufacturing. Returns to education and experience in ...
G Ramey… - University of California at San Diego, …, 1996 - en.scientificcommons.org
S Fujita… - mail.eaer.org
The purpose of the paper is to show that two claims made in Shimer (2005), namely that
“separation rates are nearly acyclic” and that “separation rates contribute little to the
variability of unemployment” are wrong. The scope of the present paper is more modest ...
J Wouter, C Haefke… - 2005 - recercat.net
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s
can be explained by a rise in economic turbulence, leading to greater numbers of
unemployed workers with obsolete skills. These workers refuse new jobs due to high ...
[CITATION] The Structure OF Worker Compensation
NA Menezes Filho, MA Muendler… - 2006
G Ramey - 2003 - chicagobooth.edu
Abstract This paper explains aggregate output and productivity in terms of financial
managersl incentives to direct capital flows towards productive investments. Managers exert
screening effort to identify new high# productivity projects, but they also divert capital to ...
G Ramey… - National Bureau of Economic Research, 2009 - eric.ed.gov
Abstract: After three decades of decline, the amount of time spent by parents on childcare in
the US began to rise dramatically in the mid-1990s. Moreover, the rise in childcare time was
particularly pronounced among college-educated parents. Why would highly educated ...
S Fujita… - 2012 - papers.ssrn.com
Abstract: This paper assesses how various approaches to modeling the separation margin
affect the ability of the Mortensen-Pissarides job matching model to explain key facts about
the aggregate labor market. Allowing for realistic time variation in the separation rate, ...
G Ramey - 1993 - execed.kellogg.northwestern.edu
Abstract: We develop a simple model of retail competition in which retailers select prices and
investments in cost reduction. Unable to observe firms 'current prices prior to costly search,
consumers monitor firms 'historic pricing behavior. An equilibrium is constructed in which ...
[CITATION] To order any of these papers, see instructions at the end of the list. To subscribe to all NBER Working Papers or the papers in a single area, see …
C Clubs, DH Papell, JG Williamson, G Dumais… - NBER working paper …, 1997
[CITATION] Intergenerational Product Competition and the Incentive to Innovate
SM Greenstein, G Ramey… - 1992 - University of Illinois at Urbana- …
W Den Haan, C Haefke… - Computing in Economics and …, 2001 - ideas.repec.org
In this paper we study the effects of shocks (a slowdown in TFP growth and an increase in
the real interest rate) in a model with endogenous job destruction and job creation. We show
that both increase the job destruction margin and the job rejection margin and, thus, the ...
J Watson… - 2002 - papers.ssrn.com
Abstract: This paper analyzes the role of third party intermediaries in contract enforcement.
In our model, intermediaries record information about past actions and resolve disputes
when requested to do so by the contracting agents. When the verifiability of information is ...
J Watson, M Klimenko… - 2001 - papers.ssrn.com
Abstract: This paper presents a theory of dynamic trade agreements in which external
institutions, such as the WTO, play a central role in supporting credible enforcement. In our
model, countries engage in ongoing negotiations, and as a consequence cooperative ...
[CITATION] Job Destruction and Propagation of Shocks
J WOUTER, GR HAAN…
[CITATION] Self-generating Variables in a Cointegrated VAR Framework
MM Klimenko, G Ramey… - 2001 - University of California, San Diego
[CITATION] Essays on information transfer and market performance
G Ramey - 1987 - Stanford University
M Klimenko, G Ramey… - 2000 - Citeseer
Abstract This paper considers the negotiation and enforcement of trade agreements in an
environment where countries negotiate repeatedly through time. The idea that countries
choose trade policies repeatedly through time has been widely applied in the literature on ...
[CITATION] Primer on Computational Methods for Macroeconomics
G Ramey - 2004
G Ramey… - 1985 - stanford.edu
Employment practices favoring individuals with more work experience are well-documented
in labor economics. For instance, empirical studies of wage profiles reveal wage rates that
rise with an individual's work experience for every education level (Mincer (1971*), Becker ...
G Ramey, VA Ramey… - 1993 - en.scientificcommons.org
S Najberg, G Ramey… - 1994 - en.scientificcommons.org
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