Comparing US gross domestic product to the sum of measured payments to labor and imputed rental payments to capital results in a large and volatile residual or “factorless” income. Loukas Karabarbounis and Brent Neiman study alternative ways to allocate output that is not associated with either capital or labor, what they call “factorless income.” Julian Kozlowski, Laura Veldkamp, and Venky Venkateswaran argue that the financial crisis increased perceived tail risk and led to higher demand for safe, risk-free, liquid assets. NBER Macroeconomics Annual 2018, volume 33, Front matter to "NBER Macroeconomics Annual 2018, volume 33", Editorial in "NBER Macroeconomics Annual 2018, volume 33", Monetary Policy Analysis When Planning Horizons Are Finite, Government Guarantees and the Valuation of American Banks, The Tail That Keeps the Riskless Rate Low, The Transformation of Manufacturing and the Decline in U.S. Employment, The 2020 Martin Feldstein Lecture: Journey Across a Century of Women, Summer Institute 2020 Methods Lectures: Differential Privacy for Economists, The Bulletin on Retirement and Disability, Productivity, Innovation, and Entrepreneurship, Conference on Econometrics and Mathematical Economics, Conference on Research in Income and Wealth, Improving Health Outcomes for an Aging Population, Measuring the Clinical and Economic Outcomes Associated with Delivery Systems, Retirement and Disability Research Center, The Roybal Center for Behavior Change in Health, Training Program in Aging and Health Economics, Transportation Economics in the 21st Century, Get permission to reprint part of this book. Published: N. Gregory Mankiw & Ricardo Reis, 2018. Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. NBER Macroeconomics Annual 2018, volume 33; Government Guarantees and the Valuation… Government Guarantees and the Valuation of American Banks. SUBSCRIBE/RENEW. All Rights Reserved. Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. RECENT ISSUES; Skip slideshow. Martin Eichenbaum and Jonathan A. Parker, editors. Kerwin Kofi Charles, Erik Hurst, and Mariel Schwartz document substantial changes in the manufacturing sector and the decline in employment among prime-aged Americans since 2000, and assess the relative effects of trade, and worker health and mobility. They also explore the propagation of large, rare shocks. Andrew G. Atkeson, Adrien d'Avernas, Andrea L. Eisfeldt & Pierre-Olivier Weill. 2017. Share. NBER Macroeconomics Annual 2018, volume 33, Front matter to "NBER Macroeconomics Annual 2018, volume 33", Editorial in "NBER Macroeconomics Annual 2018, volume 33", Monetary Policy Analysis When Planning Horizons Are Finite, Government Guarantees and the Valuation of American Banks, The Tail That Keeps the Riskless Rate Low, The Transformation of Manufacturing and the Decline in U.S. Employment, The 2020 Martin Feldstein Lecture: Journey Across a Century of Women, Summer Institute 2020 Methods Lectures: Differential Privacy for Economists, The Bulletin on Retirement and Disability, Productivity, Innovation, and Entrepreneurship, Conference on Econometrics and Mathematical Economics, Conference on Research in Income and Wealth, Improving Health Outcomes for an Aging Population, Measuring the Clinical and Economic Outcomes Associated with Delivery Systems, Retirement and Disability Research Center, The Roybal Center for Behavior Change in Health, Training Program in Aging and Health Economics, Transportation Economics in the 21st Century, Get permission to reprint part of this book. This volume contains six studies on current topics in macroeconomics. N. Gregory Mankiw, 2018. " Of all published articles, the following were the most cited within the past 12 months as recorded by Crossref. Comment on "The Macroeconomics of Border Taxes" ," NBER Chapters , in: NBER Macroeconomics Annual 2018, volume 33 , pages 468-471, National Bureau of Economic Research… Volume 29. Volume 34. Personal Access. Michael Woodford shows that while the assumption of rational expectations is unrealistic, a finite-horizon forward planning model can generate results similar to those of a rational expectations equilibrium. Volume 31. Book: NBER Macroeconomics Annual 2018, volume 33. Volume 33 | 2018. "The Transformation of Manufacturing and the Decline in U.S. Employment," NBER Chapters, in: NBER Macroeconomics Annual 2018, volume 33, pages 307-372, National Bureau of Economic Research, Inc. 2018. October 2018: Tax Equivalences and their Implications w25158: Tax Equivalences and Their Implications in Tax Policy and the Economy, Volume 33, Robert A. Moffitt, editor: June 2018: Comment on "The Macroeconomics of Border Taxes" in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors: September 2017 July 2018: Granular Comparative Advantage with Cecile Gaubert: w24807: June 2018: The Macroeconomics of Border Taxes with Omar Barbiero, Emmanuel Farhi, Gita Gopinath: w24702: May 2018: The Macroeconomics of Border Taxes with Omar Barbiero, Emmanuel Farhi, Gita Gopinath in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors The NBER Macroeconomics Annual provides a forum for leading economists to participate in important debates in macroeconomics and to report on major developments in macroeconomic analysis and policy. PUBLISHER: University of Chicago Press. Omar Barbiero, Emmanuel Farhi, Gita Gopinath, and Oleg Itskhoki analyze the dynamic macroeconomic effects of border adjustment taxes, considering them both in the context of corporate tax reform and as a part of the value-added tax. NBER Macroeconomics Annual 2016, Volume 31. Download Citation The book NBER Macroeconomics Annual 2018: Volume 33, Edited by Martin Eichenbaum and Jonathan A. Parker is published by University of Chicago Press Journals. If you have access to this journal as a benefit of membership in the sponsoring organization, log in through the member link in the right column. June 2018: Accounting for Factorless Income with Loukas Karabarbounis in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors: May 2018: International Currencies and Capital Allocation with Matteo Maggiori, Jesse Schreger: w24673. NBER Macroeconomics Annual 2018, volume 33. Michael Woodford shows that while the assumption of rational expectations is unrealistic, a finite-horizon forward planning model can generate results similar to those of a rational expectations equilibrium. Our analysis arrives at the following main conclusions. Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. July 2018: Government Guarantees and the Valuation of American Banks with Adrien d'Avernas, Andrea L. Eisfeldt, Pierre-Olivier Weill in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors: June 2018 Banks’ ratio of the market value to book value of their equity was close to 1 until the 1990s, then more than doubled during the 1996–2007 period, and fell again to values close to 1 after the 2008 financial crisis. Volume 32. "Transitional Dynamics in Aggregate Models of Innovative Investment," Annual Review of Economics, vol 11(1). NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors, University of Chicago Press, 2019 Contents Chapters and ordering information. In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, and the Bulletin on Health — as well as online conference reports, video lectures, and interviews. 2020: NBER Macroeconomics Annual 2019, volume 34: Martin S. Eichenbaum, Erik Hurst, and Jonathan A. Parker, editors: 2019: NBER Macroeconomics Annual 2018, volume 33 Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. We analyze the dynamic macroeconomic effects of border adjustment taxes (BAT), both when they are a feature of corporate tax reform (C-BAT) and for the case of value-added tax (VAT). 2019 NBER's Entrepreneurship Research Boot Camp 2019 Tributes to Martin Feldstein's role at the NBER 2019 Big Data and High-Performance Computing for Financial Economics 2019 New Developments in Long-Term Asset Management 2019 34th Annual Conference on Macroeconomics Earlier Summer Institute Methods Lectures Earlier Martin Feldstein Lectures Kerwin Kofi Charles & Erik Hurst & Mariel Schwartz, 2018. April 2018: Comment on "The Macroeconomics of Border Taxes" in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors: November 2017: Friedman's Presidential Address in the Evolution of Macroeconomic Thought with Ricardo Reis: w24043. Series: Macroeconomics Annual. "Monetary Policy Analysis When Planning Horizons Are Finite," NBER Chapters, in: NBER Macroeconomics Annual 2018, volume 33, pages 1-50, National Bureau of Economic Research, Inc. Andrew Atkeson, Adrien d’Avernas, Andrea Eisfeldt, and Pierre-Olivier Weill investigate whether the U.S. financial sector is safer than it was before the financial crisis and examine the ratio of market-to-book values of banks. They also explore the propagation of large, rare shocks. Andrew Atkeson, Adrien d’Avernas, Andrea Eisfeldt, and Pierre-Olivier Weill investigate whether the U.S. financial sector is safer than it was before the financial crisis and examine the ratio of market-to-book values of banks. Book editors: Martin Eichenbaum & Jonathan A. Parker. Some economists argue that the drop in banks’ market-to-book ratio since the crisis is due to a loss in bank franchise value or profitability. Globalization and Welfare Impacts of International Trade, Shin-ichi Fukuda, Takeo Hoshi, and … This volume contains six studies on current topics in macroeconomics. Volume 33. NBER Macroeconomics Annual 2018: Volume 33 (Volume 33) (National Bureau of Economic Research Macroeconomics Annual): 9780226645728: Economics Books @ Amazon.com Book: NBER Macroeconomics Annual 2018, volume 33. editors: Martin Eichenbaum & Jonathan A. Parker. ... 2018. Authors' rights; Open access at Chicago; Obtaining permissions; ABOUT. in NBER Macroeconomics Annual 2019, volume 34, Martin S. Eichenbaum, Erik Hurst, and Jonathan A. Parker, editors: October 2018: State Dependent Effects of Monetary Policy: the Refinancing Channel with Sergio Rebelo, Arlene Wong: w25152: August 2018: Editorial in "NBER Macroeconomics Annual 2018, volume 33" with Jonathan Parker Published: Matteo Maggiori & Brent Neiman & Jesse Schreger, 2020. Find many great new & used options and get the best deals for Nber Macroeconomics Annual 2018 Volume 33 by Martin Eichenbaum 9780226645728 at the … In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, and the Bulletin on Health — as well as online conference reports, video lectures, and interviews. Loukas Karabarbounis and Brent Neiman study alternative ways to allocate output that is not associated with either capital or labor, what they call “factorless income.” Julian Kozlowski, Laura Veldkamp, and Venky Venkateswaran argue that the financial crisis increased perceived tail risk and led to higher demand for safe, risk-free, liquid assets. First, C-BAT is unlikely to be neutral at the macroeconomic level, as the conditions required for neutrality are unrealistic. Omar Barbiero, Emmanuel Farhi, Gita Gopinath, and Oleg Itskhoki analyze the dynamic macroeconomic effects of border adjustment taxes, considering them both in the context of corporate tax reform and as a part of the value-added tax. PUBLISHER: University of Chicago Press. Conference held April 12-13, 2018 Published in June 2019 by University of Chicago Press © 2019 by the National Bureau of Economic Research in Macroeconomics Annual Book Series More information on purchasing this book 475 pages ISBN: 978-0-226-64572-8 This volume contains six studies on current topics in macroeconomics. Martin Eichenbaum and Jonathan A. Parker, editors. " Comment on "Monetary Policy Analysis When Planning Horizons Are Finite"," NBER Chapters, in: NBER Macroeconomics Annual 2018, volume 33, pages 67-74, National Bureau of Economic Research, Inc. Andrew G. Atkeson & Adrien d'Avernas & Andrea L. Eisfeldt & Pierre-Olivier Weill, 2018. Conference held April 15-16, 2016 Published in May 2017 by University of Chicago Press Series: Macroeconomics Annual Purchase Book. All Rights Reserved. Twitter LinkedIn Email. The extent to which individual responses to household surveys are protected from discovery by outside parties depends... © 2020 National Bureau of Economic Research. Kerwin Kofi Charles, Erik Hurst, and Mariel Schwartz document substantial changes in the manufacturing sector and the decline in employment among prime-aged Americans since 2000, and assess the relative effects of trade, and worker health and mobility. 2016. 2015. June 2018: Comment on "Accounting for Factorless Income" in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors: May 2018: Structural Change in Investment and Consumption: A Unified Approach with Berthold Herrendorf, Ákos Valentinyi: w24568: January 2018 Handle: RePEc:nbr:nberch:14077 Volume 30. 2019. 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