MN Macro 2005

A Critique of Structural VARs Using Real Business Cycle Theory

Patrick Kehoe (University of Minnesota and FRB Minneapolis), V. V. Chari (University of Minnesota and FRB Minneapolis), Ellen McGrattan (FRB Minneapolis)

Assessing Structural VARs

Lawrence Christiano (Northwestern), Martin Eichenbaum (Northwestern), Rob Vigfusson (Federal Reserve Board)

A, B, C's (and D's) for Understanding VARs

Jesus Fernandez-Villaverde (Penn), Juan Rubio-Ramirez (FRB Atlanta), Tom Sargent (NYU)

Contracts and the Division of Labor

Pol Antras (Harvard), Daron Acemoglu (MIT), Elhanan Helpman (Harvard)

Trade Costs, Pricing to Market, and International Relative Prices

Ariel Burstein (UCLA), Andrew Atkeson (UCLA)

Rare Events and the Equity Premium

Robert Barro (Harvard)

Vehicle Currency

Shouyong Shi (Toronto), Michael Devereux (UBC)

State-Dependent Pricing, Inflation and Welfare in Search Economies

Guillaume Rocheteau (FRB Cleveland), Ben Craig (FRB Cleveland)

Monetary Policy and Distribution

Stephen D. Williamson (Iowa)

Social Change

Nezih Guner (Penn State), Jeremy Greenwood (Rochester)

Markets as Beneficial Constraints on the Government

Adriano Rampini (Northwestern), Alberto Bisin (NYU)

Inequality and Social Discounting

Emmanuel Farhi (MIT), Iván Werning (MIT)

The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited

Markus Hagedorn (Bonn), Iourii Manovskii (Penn)

Directed Labor Search with Multiple Job Applications

Philip Kircher (Bonn), Manolis Galenianos (Penn)

A Model of Job and Worker Flows

Ricardo Lagos (NYU and FRB Minneapolis), Nobu Kiyotaki (LSE)