Emmanuel Farhi

Harvard University - Department of Economics

1875 Cambridge Street

Cambridge, MA 02138

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Harvard University - Department of Economics

  • National Bureau of Economic Research (NBER)

SCHOLARLY PAPERS

73

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3,349

CROSSREF CITATIONS

1,557

Scholarly Papers (73)

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1.

Crash Risk in Currency Markets

Downloads 2,494 ( 9,549)
Citation 7

Crash Risk in Currency Markets

NYU Working Paper No. FIN-09-007
Number of pages: 68 Posted: 07 May 2009 Last Revised: 13 Mar 2015
Emmanuel Farhi, Samuel P. Fraiberger, Xavier Gabaix, Romain G. Rancière, Adrien Verdelhan and Adrien Verdelhan
Harvard University - Department of Economics, Computer Science, Harvard University - Department of Economics, University of Southern California and National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,406 (9,878)
Citation 4

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Exchange Rates, Disaster Risk, Currency Options

Crash Risk in Currency Markets

NBER Working Paper No. w15062
Number of pages: 94 Posted: 08 Jun 2009 Last Revised: 27 Feb 2022
Emmanuel Farhi, Samuel P. Fraiberger, Xavier Gabaix, Romain G. Rancière, Adrien Verdelhan and Adrien Verdelhan
Harvard University - Department of Economics, Computer Science, Harvard University - Department of Economics, University of Southern California and National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 87 (481,266)
Citation 4

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Crash Risk in Currency Markets

CEPR Discussion Paper No. DP7322
Number of pages: 83 Posted: 15 Jul 2009
Emmanuel Farhi, Samuel P. Fraiberger, Xavier Gabaix, Romain G. Rancière, Adrien Verdelhan and Adrien Verdelhan
Harvard University - Department of Economics, Computer Science, Harvard University - Department of Economics, University of Southern California and National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Sloan School of Management
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carry trade, currency crisis, currency options, disaster risk, exchange rate, financial crisis

2.

The Real Effects of Stock Market Mispricing at the Aggregate: Theory and Empirical Evidence

Number of pages: 55 Posted: 09 May 2005
Emmanuel Farhi and Stavros Panageas
Harvard University - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 887 (45,297)
Citation 12

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Mispricing, Efficiency, Real Effects of Stock market bubbles, Investment, Investor Sentiment

3.

Saving and Investing for Early Retirement: A Theoretical Analysis

Number of pages: 68 Posted: 02 Aug 2004
Emmanuel Farhi and Stavros Panageas
Harvard University - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 653 (68,213)
Citation 48

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Retirement, Portfolio Choice, Marginal Propensity to Consume, Indivisible Labor

4.

Rare Disasters and Exchange Rates

Downloads 610 (74,326)
Citation 141

Rare Disasters and Exchange Rates

Paris December 2007 Finance International Meeting AFFI-EUROFIDAI Paper
Number of pages: 70 Posted: 13 Dec 2007 Last Revised: 15 Oct 2014
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 436 (110,816)
Citation 4

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Disaster risk, forward premium puzzle, uncovered interest rate parity, risk-reversals, international macro-finance puzzles

Rare Disasters and Exchange Rates

NBER Working Paper No. w13805
Number of pages: 47 Posted: 13 Feb 2008 Last Revised: 22 Sep 2022
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 97 (448,331)
Citation 15

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Rare Disasters and Exchange Rates

Number of pages: 49 Posted: 17 Mar 2009
Emmanuel Farhi
Harvard University - Department of Economics
Downloads 77 (518,801)
Citation 1

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Forward premium puzzle, return predictability, value, rare disasters, equilibrium asset pricing

Rare Disasters and Exchange Rates

CEPR Discussion Paper No. DP10334
Number of pages: 72 Posted: 23 Jan 2015
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
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Citation 23
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disaster risk, forward premium puzzle, international macro-finance puzzles, risk-reversals, uncovered interest rate parity

5.

Strategic Interactions in Two-Sided Market Oligopolies

Strategy Unit Working Paper No. 08-011
Number of pages: 26 Posted: 11 Sep 2007 Last Revised: 08 Apr 2009
Emmanuel Farhi and Andrei Hagiu
Harvard University - Department of Economics and Boston University - Questrom School of Business
Downloads 587 (78,002)
Citation 7

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Two-Sided Markets, Two-Sided Platforms, Strategic Complements, Strategic Substitutes, Competitive Advantage.

6.

An Equilibrium Model of Global Imbalances and Low Interest Rates

Downloads 406 (121,627)
Citation 213

An Equilibrium Model of Global Imbalances and Low Interest Rates

MIT Department of Economics Working Paper No. 06-02
Number of pages: 55 Posted: 20 Jan 2006
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 330 (151,934)
Citation 26

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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

An Equilibrium Model of "Global Imbalances" and Low Interest Rates

NBER Working Paper No. w11996
Number of pages: 54 Posted: 01 Jun 2006 Last Revised: 13 Oct 2022
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 76 (522,754)
Citation 28

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7.

Speculative Growth: Hints from the U.S. Economy

Downloads 399 (124,084)
Citation 22

Speculative Growth: Hints from the U.S. Economy

Number of pages: 52 Posted: 06 Jun 2004
Ricardo J. Caballero, Emmanuel Farhi and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 351 (142,185)

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Bubbles, investment, cost of capital, growth-saving feedback, multiple equilibria, dynamic efficiency and inefficiency, new economy, spillovers, fiscal and current account surpluses

Speculative Growth: Hints from the Us Economy

NBER Working Paper No. w10518
Number of pages: 52 Posted: 08 Jun 2004 Last Revised: 29 Sep 2022
Ricardo J. Caballero, Emmanuel Farhi and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 48 (661,959)
Citation 9

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8.

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

Downloads 351 (143,199)
Citation 194

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

FEEM Working Paper No. 57.2009
Number of pages: 53 Posted: 04 Jul 2009
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 276 (183,605)
Citation 70

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monetary policy, funding liquidity risk, strategic complementarities, macro-prudential supervision

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

NBER Working Paper No. w15138
Number of pages: 50 Posted: 21 Jul 2009 Last Revised: 14 May 2023
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 75 (526,806)
Citation 36

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9.

Inequality, Social Discounting, and Estate Taxation

Downloads 316 (160,236)
Citation 1

Inequality, Social Discounting, and Estate Taxation

Number of pages: 42 Posted: 29 Apr 2005
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 261 (194,267)

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Inequality, Altruism, Private Information, Immiseration, Social Discounting, Optimal Taxation, Estate Taxes, Dynamic Programming

Inequality, Social Discounting and Estate Taxation

NBER Working Paper No. w11408
Number of pages: 43 Posted: 06 Jul 2005 Last Revised: 04 Sep 2022
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 55 (621,382)

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10.

Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia

Downloads 279 (182,511)
Citation 61

Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia

FRB of Chicago Working Paper No. WP-2018-19
Number of pages: 62 Posted: 14 Dec 2018 Last Revised: 29 Apr 2020
Emmanuel Farhi and Francois Gourio
Harvard University - Department of Economics and Federal Reserve Bank of Chicago
Downloads 251 (202,031)
Citation 55

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investment, equity premium, risk-free rate, profitability, valuation ratios, labor share, competition, markups, safe assets

Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia

NBER Working Paper No. w25282
Number of pages: 63 Posted: 26 Nov 2018 Last Revised: 30 Jan 2022
Emmanuel Farhi and Francois Gourio
Harvard University - Department of Economics and Federal Reserve Bank of Chicago
Downloads 28 (806,404)
Citation 16

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11.

The Safety Trap

Downloads 260 (195,895)
Citation 114

The Safety Trap

MIT Department of Economics Working Paper No. 14-08
Number of pages: 67 Posted: 25 Feb 2014 Last Revised: 13 Dec 2016
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 203 (247,596)
Citation 2

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The Safety Trap

NBER Working Paper No. w19927
Number of pages: 69 Posted: 24 Feb 2014 Last Revised: 14 Jun 2023
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 57 (610,635)
Citation 34

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12.

An Equilibrum Model of 'Global Imbalances' and Low Interest Rates

BIS Working Paper No. 222
Number of pages: 88 Posted: 20 Sep 2007
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 252 (202,080)

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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

13.

Fiscal Unions

Downloads 240 (211,854)
Citation 45

Fiscal Unions

MIT Department of Economics Working Paper No. 12-20
Number of pages: 48 Posted: 09 Aug 2012
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 197 (254,538)
Citation 17

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Fiscal union, currency union, optimal currency a/rea, international insurance, fiscal and monetary policy, monetary union

Fiscal Unions

NBER Working Paper No. w18280
Number of pages: 132 Posted: 04 Aug 2012 Last Revised: 14 Jun 2023
Iván Werning and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 43 (693,487)
Citation 7

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14.

Rents, Technical Change, and Risk Premia

MIT Department of Economics Working Paper No. 17-05
Number of pages: 13 Posted: 24 Mar 2017
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 223 (227,446)

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15.

Capital Taxation: Quantitative Explorations of the Inverse Euler Equation

MIT Department of Economics Working Paper No. 06-15
Number of pages: 50 Posted: 15 May 2006 Last Revised: 03 May 2009
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 217 (233,330)
Citation 25

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Capital taxation, inverse Euler equation, constrained efficient, Chamley-Judds

16.

Global Imbalances and Policy Wars at the Zero Lower Bound

Downloads 181 (274,910)
Citation 35

Global Imbalances and Policy Wars at the Zero Lower Bound

Number of pages: 67 Posted: 09 Mar 2020
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 97 (448,331)

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Liquidity and Safety Traps, Safe Assets, Global Recession, Currency Wars, Trade Wars, Current Account, Capital Flows, Reserve Currency, Secular Stagnation, Public Debt, Fiscal Policy, Balanced Budget

Global Imbalances and Policy Wars at the Zero Lower Bound

NBER Working Paper No. w21670
Number of pages: 70 Posted: 26 Oct 2015 Last Revised: 19 Mar 2023
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 83 (495,677)
Citation 3

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Global Imbalances and Currency Wars at the ZLB

CEPR Discussion Paper No. DP10905
Number of pages: 68 Posted: 28 Oct 2015
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 1 (1,063,377)
Citation 18
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capital flows, current account, exhorbitant privilege, forward guidance, inflation rate, interest rates, liquidity and safety traps, recessions, reserve currency, safe assets, secular stagnation, Taylor rule, uncovered interest parity

Global Imbalances and Policy Wars at the Zero Lower Bound

CEPR Discussion Paper No. DP14424
Number of pages: 70 Posted: 03 Mar 2020
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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17.

Progressive Estate Taxation

Downloads 180 (276,262)
Citation 48

Progressive Estate Taxation

MIT Department of Economics Working Paper No. 06-27
Number of pages: 39 Posted: 21 Oct 2006
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 116 (394,299)

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progressivity, inheritance, estate taxation

Progressive Estate Taxation

NBER Working Paper No. w12600
Number of pages: 39 Posted: 20 Nov 2006 Last Revised: 07 Dec 2022
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 64 (575,803)
Citation 23

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18.

A Model of the International Monetary System

Downloads 146 (329,623)
Citation 88

A Model of the International Monetary System

Number of pages: 60 Posted: 03 May 2016 Last Revised: 12 Dec 2016
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 111 (407,410)

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Reserve currencies, Triffin Dilemma, Great Depression, Gold-Exchange Standard, ZLB, Nurkse Instability, Confidence Crises, Safe Assets, Exorbitant Privilege

A Model of the International Monetary System

NBER Working Paper No. w22295
Number of pages: 61 Posted: 01 Jun 2016 Last Revised: 03 Jun 2023
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 35 (750,302)
Citation 15

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A Model of the International Monetary System

CEPR Discussion Paper No. DP11297
Number of pages: 67 Posted: 01 Jun 2016
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
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Citation 14
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19.

Financial Crash, Commodity Prices and Global Imbalances

NBER Working Paper No. w14521
Number of pages: 61 Posted: 08 Dec 2008 Last Revised: 05 Sep 2022
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 145 (331,498)
Citation 4

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20.

Fiscal Mulipliers: Liquidity Traps and Currency Unions

MIT Department of Economics Working Paper No. 12-23
Number of pages: 69 Posted: 07 Sep 2012
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 131 (358,682)

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21.

Fiscal Devaluations

Downloads 126 (369,344)
Citation 69

Fiscal Devaluations

NBER Working Paper No. w17662
Number of pages: 55 Posted: 17 Dec 2011 Last Revised: 06 Apr 2023
Emmanuel Farhi, Gita Gopinath and Oleg Itskhoki
Harvard University - Department of Economics, International Monetary Fund (IMF) and Princeton University - Department of Economics
Downloads 59 (600,068)
Citation 35

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Fiscal Devaluations

FRB of Boston Working Paper No. 12-10
Number of pages: 66 Posted: 26 Jun 2013
Emmanuel Farhi, Gita Gopinath and Oleg Itskhoki
Harvard University - Department of Economics, International Monetary Fund (IMF) and Princeton University - Department of Economics
Downloads 57 (610,635)
Citation 6

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Fiscal Devaluations

CEPR Discussion Paper No. DP8721
Number of pages: 56 Posted: 22 Dec 2011
Emmanuel Farhi, Gita Gopinath and Oleg Itskhoki
Harvard University - Department of Economics, International Monetary Fund (IMF) and Princeton University - Department of Economics
Downloads 10 (981,020)
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competitive devaluation, currency union, fiscal policy

22.

How Much Would You Pay to Resolve Long-Run Risk?

Downloads 124 (373,768)
Citation 87

How Much Would You Pay to Resolve Long-Run Risk?

Number of pages: 23 Posted: 22 Sep 2013
Larry G. Epstein, Emmanuel Farhi and Tomasz Strzalecki
Boston University - College of Arts and Sciences, Harvard University - Department of Economics and Harvard University - Harvard Institute of Economic Research
Downloads 79 (510,746)

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How Much Would You Pay to Resolve Long-Run Risk?

NBER Working Paper No. w19541
Number of pages: 24 Posted: 18 Oct 2013 Last Revised: 25 May 2023
Larry G. Epstein, Emmanuel Farhi and Tomasz Strzalecki
Boston University - College of Arts and Sciences, Harvard University - Department of Economics and Harvard University - Harvard Institute of Economic Research
Downloads 45 (680,569)
Citation 26

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23.

The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem

Downloads 119 (385,306)
Citation 97

The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem

Number of pages: 72 Posted: 02 Feb 2017 Last Revised: 16 Jan 2018
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 86 (484,864)
Citation 29

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Granular, Networks, Sectoral Shocks, Hulten, Input-output

The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten's Theorem

NBER Working Paper No. w23145
Number of pages: 72 Posted: 13 Feb 2017 Last Revised: 30 Mar 2023
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 33 (765,659)
Citation 73

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24.

Supply and Demand in Disaggregated Keynesian Economies with an Application to the COVID-19 Crisis

Number of pages: 69 Posted: 07 May 2020 Last Revised: 24 Jun 2020
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
Downloads 117 (390,028)
Citation 1

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COVID-19, Keynesian Economics, Input-Output Linkages, Production Networks, Mutli-Sector

25.

Liquidity and Growth: The Role of Counter-Cyclical Interest Rates

BIS Working Paper No. 489
Number of pages: 59 Posted: 13 Feb 2015
Philippe Aghion, Emmanuel Farhi and Enisse Kharroubi
College de France and London School of Economics and Political Science, Fellow, Harvard University - Department of Economics and Bank for International Settlements (BIS)
Downloads 110 (407,902)

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growth, tangibility, liquidity dependence, short-term interest rate, counter-cyclicality

26.

Optimal Savings Distortions with Recursive Preferences

Downloads 93 (457,502)
Citation 2

Optimal Savings Distortions with Recursive Preferences

MIT Department of Economics Working Paper No. 07-30
Number of pages: 35 Posted: 24 Dec 2007 Last Revised: 03 Jan 2008
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 59 (600,068)

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Optimal Savings Distortions with Recursive Preferences

NBER Working Paper No. w13720
Number of pages: 35 Posted: 11 Jan 2008 Last Revised: 29 Dec 2022
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 34 (757,807)
Citation 1

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27.

Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates

NBER Working Paper No. w18199
Number of pages: 95 Posted: 29 Jun 2012 Last Revised: 25 Mar 2023
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 83 (490,779)
Citation 9

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28.

Bubbly Liquidity

NBER Working Paper No. w16750
Number of pages: 59 Posted: 31 Jan 2011 Last Revised: 09 Apr 2023
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 82 (494,311)
Citation 21

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29.

Reopening Scenarios

NBER Working Paper No. w27244
Number of pages: 42 Posted: 26 May 2020 Last Revised: 11 Jun 2023
David Baqaee, Emmanuel Farhi, Michael Mina and James H. Stock
London School of Economics and Political Science, Department of International Development, Students, Harvard University - Department of Economics, affiliation not provided to SSRN and Harvard University - Department of Economics
Downloads 80 (501,620)
Citation 8

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30.

A Model of the Safe Asset Mechanism (Sam): Safety Traps and Economic Policy

NBER Working Paper No. w18737
Number of pages: 53 Posted: 26 Jan 2013 Last Revised: 13 Mar 2023
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 80 (501,620)
Citation 4

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31.

Fear of Rejection? Tiered Certification and Transparency

NBER Working Paper No. w14457
Number of pages: 39 Posted: 03 Nov 2008 Last Revised: 02 Jan 2022
Emmanuel Farhi, Josh Lerner and Jean Tirole
Harvard University - Department of Economics, Harvard Business School - Finance Unit and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 78 (508,963)
Citation 4

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32.

China vs. U.S.: IMS Meets IPS

Downloads 75 (520,517)

China vs. U.S.: IMS Meets IPS

Number of pages: 10 Posted: 14 Jan 2019
Matteo Maggiori and Emmanuel Farhi
Harvard University and Harvard University - Department of Economics
Downloads 45 (680,569)

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Reserve Currencies, Triffin Dilemma, Nurkse Instability, Confidence Crises, Safe Assets, Exorbitant Privilege, Dollar, RMB

China vs. U.S.: Ims Meets Ips

NBER Working Paper No. w25469
Number of pages: 11 Posted: 23 Jan 2019 Last Revised: 03 Feb 2023
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 30 (789,896)

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China vs. U.S.: Ims Meets Ips

CEPR Discussion Paper No. DP13453
Number of pages: 13 Posted: 23 Jan 2019 Last Revised: 28 Jan 2019
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
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Confidence Crises, Dollar, Exorbitant Privilege, Nurkse Instability, reserve currencies, RMB, safe assets, Triffin dilemma

33.

A Theory of Liquidity and Regulation of Financial Intermediation

NBER Working Paper No. w12959
Number of pages: 41 Posted: 15 Mar 2007 Last Revised: 30 Nov 2022
Emmanuel Farhi, Mikhail Golosov, Aleh Tsyvinski and Aleh Tsyvinski
Harvard University - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale UniversityYale University - Cowles Foundation
Downloads 73 (528,554)
Citation 17

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34.

Optimal Taxation with Behavioral Agents

NBER Working Paper No. w21524
Number of pages: 54 Posted: 08 Sep 2015 Last Revised: 24 Apr 2023
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 71 (536,722)
Citation 78

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35.

Nonlinear Production Networks with an Application to the COVID-19 Crisis

Downloads 54 (615,285)
Citation 5

Nonlinear Production Networks with an Application to the COVID-19 Crisis

Number of pages: 54 Posted: 11 May 2020 Last Revised: 26 May 2020
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
Downloads 54 (626,980)
Citation 1

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COVID-19, Production Networks, Input-Output Linkages, Supply Chains, Bottlenecks

Nonlinear Production Networks with an Application to the Covid-19 Crisis

CEPR Discussion Paper No. DP14742
Number of pages: 57 Posted: 20 May 2020 Last Revised: 28 May 2020
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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Citation 4
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complementarities, COVID-19, input-output linkages, production networks

36.

Networks, Barriers, and Trade

NBER Working Paper No. w26108
Number of pages: 94 Posted: 02 Aug 2019 Last Revised: 04 May 2023
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 54 (615,285)
Citation 4

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37.

Shadow Banking and the Four Pillars of Traditional Financial Intermediation

Downloads 53 (620,558)
Citation 20

Shadow Banking and the Four Pillars of Traditional Financial Intermediation

NBER Working Paper No. w23930
Number of pages: 44 Posted: 16 Oct 2017 Last Revised: 17 Apr 2023
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 53 (632,587)
Citation 17

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Shadow Banking and the Four Pillars of Traditional Financial Intermediation

CEPR Discussion Paper No. DP12373
Number of pages: 44 Posted: 16 Oct 2017
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 0
Citation 1
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CCPs., deposit insurance, lender of last resort, migration, Retail and shadow banks, ring fencing, Supervision

38.

Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares

NBER Working Paper No. w23127
Number of pages: 13 Posted: 07 Feb 2017 Last Revised: 12 Mar 2023
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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Citation 40

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39.

Competing Liquidities: Corporate Securities, Real Bonds and Bubbles

NBER Working Paper No. w13955
Number of pages: 48 Posted: 23 Apr 2008 Last Revised: 20 Aug 2022
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
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40.

Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis

NBER Working Paper No. w27152
Number of pages: 66 Posted: 18 May 2020 Last Revised: 11 Mar 2023
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 49 (642,353)
Citation 21

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41.

Monetary Policy, Liquidity, and Growth

NBER Working Paper No. w18072
Number of pages: 57 Posted: 12 May 2012 Last Revised: 20 May 2023
Philippe Aghion, Emmanuel Farhi and Enisse Kharroubi
College de France and London School of Economics and Political Science, Fellow, Harvard University - Department of Economics and Bank for International Settlements (BIS)
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Citation 1

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42.

Unconventional Fiscal Policy at the Zero Bound

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Citation 98

Unconventional Fiscal Policy at the Zero Bound

NBER Working Paper No. w16758
Number of pages: 28 Posted: 07 Feb 2011 Last Revised: 17 Apr 2022
Maria Isabel Horta Correia, Emmanuel Farhi, Juan Pablo Nicolini and Pedro Teles
Bank of Portugal - Economic Research Department, Harvard University - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Minneapolis and Federal Reserve Bank of Chicago
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Citation 2

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Unconventional Fiscal Policy at the Zero Bound

CEPR Discussion Paper No. DP8193
Number of pages: 31 Posted: 31 Jan 2011
Maria Isabel Horta Correia, Emmanuel Farhi, Juan Pablo Nicolini and Pedro Teles
Bank of Portugal - Economic Research Department, Harvard University - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
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Citation 45
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Fiscal policy, Monetary Policy, Sticky Prices, Zero Bound;

43.

Insurance and Taxation Over the Life Cycle

NBER Working Paper No. w16749
Number of pages: 54 Posted: 31 Jan 2011 Last Revised: 08 Apr 2023
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 46 (659,508)
Citation 33

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44.

A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

NBER Working Paper No. w19313
Number of pages: 56 Posted: 10 Aug 2013 Last Revised: 10 Apr 2022
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 136

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45.

Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises

NBER Working Paper No. w19516
Number of pages: 53 Posted: 11 Oct 2013 Last Revised: 12 May 2023
Mark Aguiar, Manuel Amador, Emmanuel Farhi and Gita Gopinath
Princeton University, Federal Reserve Banks - Federal Reserve Bank of Minneapolis, Harvard University - Department of Economics and International Monetary Fund (IMF)
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Citation 9

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46.

Safe Asset Scarcity and Aggregate Demand

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Citation 52

Safe Asset Scarcity and Aggregate Demand

NBER Working Paper No. w22044
Number of pages: 12 Posted: 01 Mar 2016 Last Revised: 27 Mar 2022
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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Citation 27

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Safe Asset Scarcity and Aggregate Demand

CEPR Discussion Paper No. DP11170
Number of pages: 13 Posted: 18 Apr 2016
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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Citation 8
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47.

Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

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Citation 80

Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

NBER Working Paper No. w21843
Number of pages: 84 Posted: 12 Jan 2016 Last Revised: 09 Mar 2023
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
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Citation 59

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Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

CEPR Discussion Paper No. DP11024
Number of pages: 87 Posted: 12 Jan 2016
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
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Citation 21
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bailouts, feedback loop, shared supervision, sovereign and corporate spreads, sovereign default

48.

Monetary Policy, Bounded Rationality, and Incomplete Markets

NBER Working Paper No. w23281
Number of pages: 56 Posted: 27 Mar 2017 Last Revised: 11 Feb 2023
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 54

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49.

Capital Taxation and Ownership When Markets are Incomplete

NBER Working Paper No. w13390
Number of pages: 46 Posted: 14 Sep 2007 Last Revised: 04 Aug 2022
Emmanuel Farhi
Harvard University - Department of Economics
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Citation 4

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50.

Nonlinear Production Networks with an Application to the Covid-19 Crisis

NBER Working Paper No. w27281
Number of pages: 55 Posted: 02 Jun 2020 Last Revised: 17 Jul 2023
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 40 (696,450)

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51.

Productivity and Misallocation in General Equilibrium

NBER Working Paper No. w24007
Number of pages: 100 Posted: 13 Nov 2017 Last Revised: 05 Feb 2023
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 36 (723,335)
Citation 140

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52.

The Microeconomic Foundations of Aggregate Production Functions

NBER Working Paper No. w25293
Number of pages: 61 Posted: 26 Nov 2018 Last Revised: 10 Feb 2023
David Rezza Baqaee and Emmanuel Farhi
London School of Economics & Political Science (LSE) - London School of Economics and Harvard University - Department of Economics
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Citation 3

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53.

Monetary Policy, Product Market Competition, and Growth

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Citation 5

Monetary Policy, Product Market Competition, and Growth

Number of pages: 36 Posted: 07 Jul 2020
Philippe Aghion, Emmanuel Farhi and Enisse Kharroubi
College de France and London School of Economics and Political Science, Fellow, Harvard University - Department of Economics and Bank for International Settlements (BIS)
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Citation 3

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growth, financial conditions, firm leverage, competition

Monetary Policy, Product Market Competition, and Growth

CEPR Discussion Paper No. DP13214
Number of pages: 56 Posted: 08 Oct 2018
Philippe Aghion, Emmanuel Farhi and Enisse Kharroubi
College de France and London School of Economics and Political Science, Fellow, Harvard University - Department of Economics and Bank for International Settlements (BIS)
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54.

Entry vs. Rents: Aggregation with Economies of Scale

NBER Working Paper No. w27140
Number of pages: 47 Posted: 12 May 2020 Last Revised: 27 Feb 2022
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
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55.

Labor Mobility within Currency Unions

NBER Working Paper No. w20105
Number of pages: 28 Posted: 14 May 2014 Last Revised: 09 Jun 2023
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 29 (775,109)
Citation 1

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56.

A Short Note on Aggregating Productivity

Number of pages: 16 Posted: 09 Apr 2019 Last Revised: 21 Jul 2019
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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57.

A Short Note on Aggregating Productivity

NBER Working Paper No. w25688
Number of pages: 18 Posted: 26 Mar 2019 Last Revised: 11 Mar 2023
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
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Citation 2

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58.

Macroeconomics with Heterogeneous Agents and Input-Output Networks

NBER Working Paper No. w24684
Number of pages: 61 Posted: 18 Jun 2018 Last Revised: 12 Jun 2023
David Rezza Baqaee and Emmanuel Farhi
London School of Economics & Political Science (LSE) - London School of Economics and Harvard University - Department of Economics
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59.

Fiscal Multipliers: Liquidity Traps and Currency Unions

NBER Working Paper No. w18381
Number of pages: 70 Posted: 15 Sep 2012 Last Revised: 24 Mar 2023
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 20

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60.

An Equilibrium Model of 'Global Imbalances' and Low Interest Rates

CEPR Discussion Paper No. 5573
Number of pages: 57 Posted: 27 Jun 2006
Pierre-Olivier Gourinchas, Ricardo J. Caballero and Emmanuel Farhi
University of California, Berkeley - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
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Citation 80
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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

61.

Estate Taxation with Altruism Heterogeneity

NBER Working Paper No. w18792
Number of pages: 27 Posted: 09 Feb 2013 Last Revised: 08 May 2022
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 2

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62.

Coordination and Crisis in Monetary Unions

NBER Working Paper No. w20277
Number of pages: 44 Posted: 24 Jul 2014 Last Revised: 29 May 2022
Mark Aguiar, Manuel Amador, Emmanuel Farhi and Gita Gopinath
Princeton University, Federal Reserve Banks - Federal Reserve Bank of Minneapolis, Harvard University - Department of Economics and International Monetary Fund (IMF)
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Citation 23

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63.

The Macroeconomics of Border Taxes

NBER Working Paper No. w24702
Number of pages: 53 Posted: 11 Jun 2018 Last Revised: 01 Jul 2023
Omar Barbiero, Emmanuel Farhi, Gita Gopinath and Oleg Itskhoki
Harvard University, Harvard University - Department of Economics, International Monetary Fund (IMF) and Princeton University - Department of Economics
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Citation 8

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64.

The Phillips Curves Across the Atlantic: It is the Price Curves that Differ

Number of pages: 33 Posted: 10 Jan 2002
Daniel Cohen and Emmanuel Farhi
Ecole Normale Superieure (ENS) - Department and Laboratory of Applied and Theoretical Economics (DELTA) and Harvard University - Department of Economics
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Phillips Curve, mark-up, labour market

65.

The Darwinian Returns to Scale

NBER Working Paper No. w27139
Number of pages: 98 Posted: 12 May 2020 Last Revised: 26 Feb 2023
David Baqaee, Emmanuel Farhi and Kunal Sangani
London School of Economics and Political Science, Department of International Development, Students, Harvard University - Department of Economics and Harvard University
Downloads 11 (936,870)
Citation 2

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66.

Darwinian Returns to Scale

CEPR Discussion Paper No. DP15712
Number of pages: 73 Posted: 11 Feb 2021
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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67.

The Supply-Side Effects of Monetary Policy

CEPR Discussion Paper No. DP15702
Number of pages: 71 Posted: 11 Feb 2021
D. R. Baqaee, Emmanuel Farhi and Kunal Sangani
University of California, Los Angeles (UCLA), Harvard University - Department of Economics and Harvard University
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68.

Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis

CEPR Discussion Paper No. DP14743
Number of pages: 72 Posted: 20 May 2020 Last Revised: 29 Jun 2020
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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Citation 3
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COVID-19, demand and supply shocks, input-output linkages, Keynesian economics, Multi-Sector

69.

A Short Note on Aggregating Productivity

CEPR Discussion Paper No. DP13592
Number of pages: 19 Posted: 18 Mar 2019
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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70.

The Microeconomic Foundations of Aggregate Production Functions

CEPR Discussion Paper No. DP13362
Number of pages: 65 Posted: 11 Dec 2018
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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Citation 3
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71.

Macroeconomics with Heterogeneous Agents and Input-Output Networks

CEPR Discussion Paper No. DP13006
Number of pages: 62 Posted: 26 Jun 2018 Last Revised: 10 Dec 2018
D. R. Baqaee and Emmanuel Farhi
University of California, Los Angeles (UCLA) and Harvard University - Department of Economics
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Citation 3
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aggregation, comovement, Heterogeneous Agents, production networks, propagation

72.

Productivity and Misallocation in General Equilibrium

CEPR Discussion Paper No. DP12447
Number of pages: 78 Posted: 20 Nov 2017
David Rezza Baqaee and Emmanuel Farhi
London School of Economics & Political Science (LSE) - London School of Economics and Harvard University - Department of Economics
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73.

Inequality and Social Discounting

Journal of Political Economy, Vol. 115, No. 3, 2007
Posted: 20 Dec 2007
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics

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