Research Meeting on Economic Fluctuations and Growth

NBER Reporter, Spring 1998 | Go to article overview

Research Meeting on Economic Fluctuations and Growth


On February 6, more than 30 members and guests of the NBER's Program on Economic Fluctuations and Growth met to discuss their research. Michael Kremer, of NBER and MIT, and Mark W. Watson, of NBER and Princeton University, chose the following papers for presentation:

Shubham Chaudhuri, Columbia University, "Income Seasonality, Precautionary Saving, and Borrowing Constraints in an Agrarian Economy"

Discussant: Christopher D. Carroll, NBER and Johns Hopkins University

Olivier J. Blanchard, NBER and MIT, "The Medium Run"

Discussant: Robert E. Hall, NBER and Stanford University

Per Krusell, University of Rochester; Lee Ohanian, Federal Reserve Bank of Minneapolis; Jose Victor Rios-Rull, Federal Reserve Bank of Minneapolis; and Giovanni Violante, University College, London, "Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis"

Discussant: Lawrence F. Katz, NBER and Harvard University

Peter Rupert, Federal Reserve Bank of Cleveland; and Richard Rogerson and Randall Wright, NBER and University of Pennsylvania, "On the Macroeconomic Implications of Models with Household Production"

Discussant: John F. Kennan, NBER and University of Wisconsin

Giancarlo Corsetti, Yale University, and Paolo Pesenti, NBER and Princeton University, "Welfare and Macroeconomic Interdependence"

Discussant: Maurice Obstfeld, NBER and University of California, Berkeley

Philippe Aghion, University College, London; Abhijit Banerjee, MIT; and Thomas Piketty, CEPREMAP, "Dualism and Macroeconomic Volatility"

Discussant: Paul M. Romer, NBER and Stanford University

Households in many poor agrarian economies derive their income from agriculture which depends on rain. This raises the possibility that households accumulate information about future cash inflows (that is, harvests) from rainfall patterns early on in the crop cycle. Using detailed data from three villages in India, Chaudhuri explores whether households use this information in the ways suggested by modern consumption theories. He finds fairly strong support for the joint hypothesis of precautionary saving and forward-looking behavior in the presence of borrowing constraints.

Blanchard considers the evolution of OECD countries over the last 30 years. Motivated by the very different shares of unemployment and capital in Continental Europe versus Anglo-Saxon countries, he offers a broad interpretation of events: Continental Europe was affected by strong adverse labor supply shifts in the 1970s and by strong adverse labor demand shifts in the 1980s. The earlier supply shifts largely reflected the failure of wages to react to the slowdown in productivity and the increase in oil prices. The more recent labor demand shifts are attributable to a combination of change in the distribution of rents from workers to firms, and technological progress biased against labor. Together with the implied dynamics of employment and capital accumulation, these labor supply and demand shifts can explain the increase and persistence in unemployment, as well as the increase in capital shares, that have characterized most Continental European countries. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Research Meeting on Economic Fluctuations and Growth
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.