Optimal Fiscal Policy in Dynamic Models: Revised 1998 Optimal Fiscal Policy in Dynamic Models (2008)
Larry E. Jones, Rodolfo E. Manuelli
Originally Prepared for the Workshop on Public Policy and Growth to be held at
Explaining International Fertility Differences (2008)
Rodolfo E. Manuelli, Ananth Seshadri
Why do fertility rates vary so much across countries? Why are European fertility rates so much lower than American fertility rates? To answer these questions we extend the Barro-Becker framework to...
Preliminary and Incomplete Comments Welcome (2007)
Larry E. Jones, Rodolfo E. Manuelli
Wisconsin-Madison, respectively. We would like to thank NSF for providing financial support for this research. Part of this work was done when both authors visited the Bank of Portugal, which...
Technological Change, the Labor Market and the Stock Market (2007)
Abstract: This paper presents a model in which a partially anticipated technology shock results, in the short run, in lower investment and higher unemployment. Because of the expectation of future...
Thank Graziella Bertocchi, Larry E. Jones, Larry E. Jones, Rodolfo E. Manuelli, Rodolfo E. Manuelli
What determines the relationship between pollution and growth? Are the forces that explain the behavior over time of these quantities potentially useful to understand more generally the relationship...
Growth and Business Cycles (2007)
Larry E. Jones, Rodolfo E. Manuelli, Henry E. Siu, For Discussion Only, Larry Jones, Rody Manuelli, ...
Foundation for financial support.
Preliminary- Comments Welcome (2007)
Larry E. Jones, Rodolfo E. Manuelli
Economic situations in which agents perceive increased “uncertainty ” about a variety of relevant economic variables lead, according to contemporaneous observers, to decreases in the volume of...
Preliminary and Incomplete On the Taxation of Human Capital (2007)
Larry E. Jones, Rodolfo E. Manuelli
Torcuato DiTella for their hospitality while some of the ideas in this paper were developed. by
A POSITIVE MODEL OF GROWTH AND POLLUTION CONTROLS (2007)
Thank Graziella Bertocchi, Larry E. Jones, Larry E. Jones, Rodolfo E. Manuelli, Rodolfo E. Manuelli
A recent concern in economics is the interplay between income and pollution. The main question raised is whether or not continued environmental degradation is a necessary part of the process of...
Human Capital and the Wealth of Nations (2007)
Rodolfo E. Manuelli, Ananth Seshadri
No question has perhaps attracted as much attention in the economics liter-ature as “Why are some countries richer than others? ” In this paper, we revisit the development problem and reevaluate...
Explaining International Fertility Differences (2007)
Rodolfo E. Manuelli, Ananth Seshadri
Why do fertility rates vary so much across countries? Why are Eu-ropean fertility rates so much lower than American fertility rates? To answer these questions we extend the Barro-Becker framework to...
Rodolfo E. Manuelli, Ananth Seshadri
We study the dynamic behavior of a Neoclassical growth model with finite lifetimes and imperfect altruism in which individuals can accumulate both physical and human capital. We use the model to...
Human Capital and the Wealth of Nations (2005)
Rodolfo E. Manuelli, Ananth Seshadri
No question has perhaps attracted as much attention in the economics liter-ature as “Why are some countries richer than others? ” In this paper, we revisit the development problem and reevaluate...
Larry E. Jones, Rodolfo E. Manuelli
Despite its role as the centerpiece of modern growth theory, the Solow model is
Technological Change, the Labor market and the Stock Market (2003)
This paper presents a model in which a partially anticipated technology shock results, in the short run, in lower investment and higher unemployment. Because of the expectation of future lower...
Larry E. Jones, Henry E. Siu, Rodolfo E. Manuelli
Using ideas from the endogenous growth literature, we present a model of the endogenous determination of productivity growth based on individual worker decisions about human capital investments. We...
Larry E. Jones, Henry E. Siu, Rodolfo E. Manuelli, Ennio Stacchetti
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies finding a positive relationship, while others find a negative one. Our objectives in this...
Volatile Policy and Private Information: The Case of Monetary Shocks,” working paper (2000)
Larry E. Jones, Rodolfo E. Manuelli, Larry Jones, Rody Manuelli
provided a stimulating research environment. We also thank John Kennan, Bob Lucas, Tom Sargent, Nancy Stokey, Steve Williamson and seminar participants for useful conversations on these topics. In...
Technology (and Policy) Shocks in Models of Endogenous Growth (1999)
Larry E. Jones, Rodolfo E. Manuelli, O Alvarez, Larry Jones, ...
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies (Kormendi and Meguire (1985)) finding a positive relationship, while others (Ramey and Ramey...
Technology (and policy) shocks in models of endogenous growth, NBER Working Paper No. 7063 (1999)
Larry E. Jones, Rodolfo E. Manuelli, Ennio Stacchetti
Our objective is to understand how fundamental uncertainty can affect the long-run growth rate and what factors determine the nature of the relationship. Qualitatively, we show that the relationship...
The Growth Effects of Monetary Policy (1995)
V. V. Chari, Larry E. Jones, Adviser Harold, Stuart Professor, Rodolfo E. Manuelli
This article investigates the relationship between inflation and output, in the data and in standard models. The article reports that empirical cross-country studies generally find a nonlinear,...
Exercises in dinamic macroeconomic theory / Rodolfo E. Manuelli and Thomas J. Sargent (1987)
Manuelli, Rodolfo E, Sargent, Thomas J
Incluye bibliografía e índice
Topics in intertemporal economics /--by Rodolfo E. Manuelli. (1986)
Thesis (Ph. D.)--University of Minnesota, 1986.
Labor contracts in a model of imperfect competition
V.V. Chari, Larry E. Jones, Rodolfo E. Manuelli
We propose a definition of involuntary unemployment which differs from that traditionally used in implicit labor contract theory. We say that a worker is involuntarily unemployed if the marginal wage...
Fluctuations in Convex Models of Endogenous Growth I: Growth Effects
Larry E. Jones, Rodolfo E. Manuelli, Henry E. Siu, Ennio Stacchetti
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies finding a positive relationship, while others find a negative one. Our objectives are to...
Fluctuations in Convex Models of Endogenous Growth II: Business Cycle Properties
Larry E. Jones, Rodolfo E. Manuelli, Henry E. Siu
Using ideas from the endogenous growth literature, we present a model of the endogenous determination of productivity growth based on individual worker decisions about human capital investment. We...
Optimal Taxation in Models of Endogenous Growth.
Jones, Larry E, Manuelli, Rodolfo E, Rossi, Peter E
The authors study the problem of optimal taxation in three infinite-horizon, representative-agent endogenous growth models. The first model is a convex model in which physical and human capital are...
Growth and the Effects of Inflation
Larry E. Jones, Rodolfo E. Manuelli
In this paper, we analyze the effects of changes in monetary growth rates in the context of models of endogenous growth when the demand for money comes from a cash-in-advance constraint. We explore...
On the Optimal Taxation of Capital Income
Larry E. Jones, Rodolfo E. Manuelli, Peter E. Rossi
One of the best known results in modern public finance is the Chamley-Judd result showing that the optimal tax rate on capital income is zero in the long-run. In this paper, we reexamine this result...
Fluctuations in Convex Models of Endogenous Growth I: Growth Effects
Larry E. Jones, Rodolfo E. Manuelli, Henry E. Siu, Ennio Stacchetti
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies finding a positive relationship, while others find a negative one. Our objectives are to...
Fluctuations in Convex Models of Endogenous Growth II: Business Cycle Properties
Larry E. Jones, Rodolfo E. Manuelli, Henry E. Siu
Using ideas from the endogenous growth literature, we present a model of the endogenous determination of productivity growth based on individual worker decisions about human capital investment. We...
The growth effects of monetary policy
V.V. Chari, Larry E. Jones, Rodolfo E. Manuelli
This article investigates the relationship between inflation and output, in the data and in standard models. The article reports that empirical cross-country studies generally find a nonlinear,...
Neoclassical Models of Endogenous Growth: The Effects of Fiscal Policy, Innovation and Fluctuations
Jones, Larry E., Manuelli, Rodolfo E., Philippe Aghion, Steven Durlauf
Despite its role as the centerpiece of modern growth theory, the Solow model is decidedly silent on some of its basic questions: Why is average growth in per capita income so much higher now than it...
The Coordination Problem and Equilibrium Theories of Recessions.
Jones, Larry E, Manuelli, Rodolfo E
In this paper, the authors build on the recent literature on coordination problems to construct a model in which there is potential for low-output equilibrium. The authors show that the conditions...
Exchange Rate Volatility in an Equilibrium Asset Pricing Model.
Manuelli, Rodolfo E, Peck, James
This paper analyzes a stochastic model of exchange rate determination with unrestricted access to capital and currency markets. It is shown that the only restriction imposed by the model on the...
Endogenous Policy Choice: The Case of Pollution and Growth
Larry E. Jones, Rodolfo E. Manuelli
What determines the relationship between pollution and growth? Are the forces that explain the behavior over time of these quantities potentially useful to understand more generally the relationship...
Larry E. Jones, Rodolfo E. Manuelli
In this paper, we survey the principal theoretical models of endogenous growth and explore their common components through analyzing a series of planning problems. Our aim is to provide the reader...
Larry E. Jones, Rodolfo E. Manuelli
In this paper, we survey the principal theoretical models of endogenous growth and explore their common components through analyzing a series of planning problems. Our aim is to provide the reader...
Inflation, growth, and financial intermediation
V.V. Chari, Larry E. Jones, Rodolfo E. Manuelli
Inflation (Finance)
Larry E. Jones, Rodolfo E. Manuelli, Henry E. Siu
We present a class of convex endogenous growth models and analyze their performance in terms of both growth and business cycle criteria. The models we study have close analogs in the real business...
Endogenous policy choice: the case of pollution and growth
Larry E. Jones, Rodolfo E. Manuelli
What determines the relationship between pollution and growth? Are the forces that explain the behavior over time of these quantities potentially useful to understand more generally the relationship...
Technology (and policy) shocks in models of endogenous growth
Larry E. Jones, Rodolfo E. Manuelli, Ennio Stacchetti
Our objective is to understand how fundamental uncertainty can affect the long-run growth rate and what factors determine the nature of the relationship. Qualitatively, we show that the relationship...
Why are married women working so much?
Larry E. Jones, Rodolfo E. Manuelli, Ellen R. McGrattan
We study the large observed changes in labor supply by married women in the United States over 1950-1990, a period when labor supply by single women has hardly changed at all. We investigate the...
Larry E. Jones, Rodolfo E. Manuelli
The recent literature an endogenous growth models has emphasized the effect that the rate of return has an the capital accumulation decisions and, consequently, on the growth rate of the economy. In...
A Positive Model of Growth and Pollution Controls
Larry E. Jones, Rodolfo E. Manuelli
The most recent addition to the economics of gloom concerns the interplay between income and environmental degradation. The main question raised is whether or not continued environmental degradation...
Technology (and Policy) Shocks in Models of Endogenous Growth
Larry E. Jones, Rodolfo E. Manuelli, Ennio Stacchetti
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies (Kormendi and Meguire (1985)) finding a positive relationship, while others (Ramey and Ramey...
Volatile Policy and Private Information: The Case of Monetary Policy
Larry E. Jones, Rodolfo E. Manuelli
In this paper we study how volatility in monetary policy affects economic performance in the presence of endogenously chosen information structures. To isolate the effects produced by the interaction...
Technological Change, the Labor Market and the Stock Market
This paper presents a model in which a partially anticipated technological shock results, in the short-run, in lower investment and higher unemployment. Because of the expectation of future lower...
A Convex Model of Equilibrium Growth: Theory and Policy Implications.
Jones, Larry E, Manuelli, Rodolfo E
The authors' aim in this paper is to exposit a convex model of equilibrium growth. The model has two features that distinguish it from most other work on the subject: first, the model is convex on...
Explaining International Fertility Differences
Rodolfo E. Manuelli, Ananth Seshadri
Why do fertility rates vary so much across countries? Why are European fertility rates so much lower than American fertility rates? To answer these questions we extend the Barro-Becker framework to...
Commentary on What do we know (and not know) about potential output?
Economic development ; Economic conditions