New Research

Tim Kehoe: The Stages of Economic Growth Revisited

The Stages of Economic Growth Revisited Timothy J. Kehoe, Consultant March 2016 | Federal Reserve Bank of Minneapolis Economic Policy Paper 16-5 | With Daniela Costa and Gajen Raveendranathan Part 1: A General Framework and Taking Off into Growth We propose a theory...

read more

Schulhofer-Wohl: Inflation at the Household Level

Inflation at the Household Level Sam Schulhofer-Wohl, Senior Vice President and Director of Research April 2016 | Federal Reserve Bank of Minneapolis Working Paper 731 | With Greg Kaplan We use scanner data to estimate inflation rates at the household level....

read more

Chari & Kehoe: Financial Repression: Evidence and Theory

Financial Repression: Evidence and Theory V.V. Chari, Consultant Patrick J. Kehoe, Consultant March 2016 | Federal Reserve Bank of Minneapolis Economic Policy Paper 16-4 | With Alessandro Dovis “Financial repression”—policies that allow a government to place its debt...

read more

Rios-Rull: The Great Recession and Financial Shocks

The Great Recession and Financial Shocks José-Víctor Ríos-Rull, Consultant February 2016 | Federal Reserve Bank of Minneapolis Economic Policy Paper 16-3 | With Zhen Huo A case can be made for the Great Recession being the result of a large financial shock that makes...

read more

Wright: Are Prices Sticky and Does It Matter?

Are Prices Sticky and Does It Matter? Randall Wright, Consultant January 2016 | Federal Reserve Bank of Minneapolis Economic Policy Paper 16-2 | With Liang Wang Many economists believe that prices are “sticky”—they adjust slowly. This stickiness, they suggest, means...

read more

Arellano: Fiscal Austerity during Debt Crises

Fiscal Austerity during Debt Crises Cristina Arellano, Senior Research Economist January 2016 | Federal Reserve Bank of Minneapolis Staff Report 525 | With Yan Bai This paper constructs a dynamic model in which fiscal restrictions interact with government borrowing...

read more