 | Credit Cycles, Fiscal Policy, and Global Imbalances Author/Editor: Callum Jones, Pau Rabanal. Release Date:February, 2021 We study the role that changes in credit and fiscal positions play in explaining current account fluctuations. Empirically, the current account declines when credit increases, and when the fiscal more...
| Price: $18.00
| | Entry Costs and the Macroeconomy Author/Editor: Germán Gutiérrez, Callum Jones, Thomas Philippon. Release Date:November, 2019 We combine a structural model with cross-sectional micro data to identify the causes and consequences of rising concentration in the US economy. Using asset prices and industry data, we estimate more...
| Price: $18.00
| | The External Balance Assessment Methodology: 2018 Update Author/Editor: Luis M Cubeddu, Signe Krogstrup, Gustavo Adler, Pau Rabanal, Mai Chi Dao, Swarnali A Hannan, Luciana Juvenal, Carolina Osorio Buitron, Cyril Rebillard, Daniel Garcia-Macia, Callum Jones, Jair Rodriguez, Kyun Suk Chang, Deepali Gautam, Zijiao Wang, Nan Li. Release Date:March, 2019 The assessment of external positions and exchange rates is a key mandate of the IMF. This paper presents the updated External Balance Assessment (EBA) framework—a key input in the conduct of more...
| Price: $18.00
| | Demographics, Old-Age Transfers and the Current Account Author/Editor: Mai Chi Dao, Callum Jones. Release Date:December, 2018 Building on the evolving literature on the topic, this paper reviews the relationship between demographics and long-run capital flows in both theory and in the data. For this purpose, we develop a more...
| Price: $18.00
| | Household Leverage and the Recession Author/Editor: Callum Jones, Virgiliu Midrigan, Thomas Philippon. Release Date:August, 2018 We evaluate and partially challenge the ‘household leverage’ view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We more...
| Price: $18.00
| | International Spillovers of Forward Guidance Shocks Author/Editor: Callum Jones, Mariano Kulish, Daniel M Rees. Release Date:May, 2018 After 2007, countries that cut their policy interest rates close to zero turned, among other policies, to forward guidance. We estimate a two-country model of the U.S. and Canada to quantify how more...
| Price: $18.00
| | Aging, Secular Stagnation and the Business Cycle Author/Editor: Callum Jones. Release Date:March, 2018 As of 2015, U.S. log output per capita was 12 percent below what its pre-2008 linear trend
would predict. To understand why, I develop and estimate a model of the US with
demographics, more...
| Price: $18.00
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