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

DOWNLOADS
Rank 7,030

SSRN RANKINGS

Top 7,030

in Total Papers Downloads

13,050

TOTAL CITATIONS
Rank 159

SSRN RANKINGS

Top 159

in Total Papers Citations

2,000

Scholarly Papers (73)

Actions:
Email selected abstracts
1.

Crash Risk in Currency Markets

Downloads 2,586 (11,570)
Citation 10

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 2,461 (12,239)
Citation 4

Abstract:

Loading...

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 122 (492,335)
Citation 6

Abstract:

Loading...

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
Downloads 3 (1,362,033)
  • Add to Cart

Abstract:

Loading...

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 923 (54,854)
Citation 12

Abstract:

Loading...

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

3.

Rare Disasters and Exchange Rates

Downloads 778 (69,113)
Citation 44

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 495 (121,123)
Citation 5

Abstract:

Loading...

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

Rare Disasters and Exchange Rates

Number of pages: 49 Posted: 17 Mar 2009
Emmanuel Farhi
Harvard University - Department of Economics
Downloads 147 (422,959)
Citation 1

Abstract:

Loading...

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

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 136 (450,687)
Citation 15

Abstract:

Loading...

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
Downloads 0
Citation 23
  • Add to Cart

Abstract:

Loading...

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

4.

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 716 (77,082)
Citation 60

Abstract:

Loading...

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

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 696 (79,905)
Citation 7

Abstract:

Loading...

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

6.

An Equilibrium Model of Global Imbalances and Low Interest Rates

Downloads 444 (139,925)
Citation 55

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 349 (181,803)
Citation 26

Abstract:

Loading...

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 95 (593,495)
Citation 29

Abstract:

Loading...

7.

Speculative Growth: Hints from the U.S. Economy

Downloads 429 (145,481)
Citation 14

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 366 (172,451)

Abstract:

Loading...

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 63 (756,004)
Citation 14

Abstract:

Loading...

8.

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

Downloads 385 (164,574)
Citation 107

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 297 (216,487)
Citation 71

Abstract:

Loading...

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 88 (623,508)
Citation 36

Abstract:

Loading...

9.

Inequality, Social Discounting, and Estate Taxation

Downloads 339 (189,375)

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 276 (233,801)

Abstract:

Loading...

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 63 (756,004)

Abstract:

Loading...

10.

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

Downloads 309 (209,193)
Citation 92

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 265 (243,755)
Citation 76

Abstract:

Loading...

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 44 (901,275)
Citation 16

Abstract:

Loading...

11.

The Safety Trap

Downloads 285 (227,791)
Citation 36

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 219 (294,633)
Citation 2

Abstract:

Loading...

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 66 (737,535)
Citation 34

Abstract:

Loading...

12.

Fiscal Unions

Downloads 284 (228,607)
Citation 31

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 226 (285,898)
Citation 24

Abstract:

Loading...

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 58 (789,208)
Citation 7

Abstract:

Loading...

13.

Global Imbalances and Policy Wars at the Zero Lower Bound

Downloads 277 (234,589)
Citation 20

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 177 (359,963)

Abstract:

Loading...

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 97 (585,332)
Citation 3

Abstract:

Loading...

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 2 (1,368,080)
Citation 17
  • Add to Cart

Abstract:

Loading...

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
Downloads 1 (1,375,953)
  • Add to Cart

Abstract:

Loading...

14.

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 270 (240,885)

Abstract:

Loading...

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

15.

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 246 (264,532)

Abstract:

Loading...

16.

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 228 (284,892)
Citation 18

Abstract:

Loading...

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

17.

Progressive Estate Taxation

Downloads 203 (318,257)
Citation 30

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 131 (464,916)

Abstract:

Loading...

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 72 (702,567)
Citation 30

Abstract:

Loading...

18.

A Model of the International Monetary System

Downloads 179 (357,085)
Citation 28

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 131 (464,916)

Abstract:

Loading...

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 47 (874,661)
Citation 15

Abstract:

Loading...

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
Downloads 1 (1,375,953)
Citation 13
  • Add to Cart

Abstract:

Loading...

19.

Fiscal Devaluations

Downloads 169 (375,604)
Citation 48

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 84 (641,980)
Citation 6

Abstract:

Loading...

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 74 (691,548)
Citation 42

Abstract:

Loading...

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 11 (1,293,243)
  • Add to Cart

Abstract:

Loading...

competitive devaluation, currency union, fiscal policy

20.

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

Downloads 165 (383,512)
Citation 26

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 105 (552,915)

Abstract:

Loading...

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 60 (775,590)
Citation 26

Abstract:

Loading...

21.

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

Downloads 156 (402,320)
Citation 131

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 112 (526,335)
Citation 29

Abstract:

Loading...

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 44 (901,275)
Citation 102

Abstract:

Loading...

22.

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 156 (402,320)
Citation 4

Abstract:

Loading...

23.

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 148 (420,171)

Abstract:

Loading...

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 138 (444,458)
Citation 1

Abstract:

Loading...

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 132 (460,599)

Abstract:

Loading...

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

26.

Optimal Savings Distortions with Recursive Preferences

Downloads 114 (515,983)
Citation 1

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 71 (708,100)

Abstract:

Loading...

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 43 (910,375)
Citation 1

Abstract:

Loading...

27.

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 102 (560,302)
Citation 21

Abstract:

Loading...

28.

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 96 (583,573)
Citation 15

Abstract:

Loading...

29.

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 95 (587,501)
Citation 106

Abstract:

Loading...

30.

China vs. U.S.: IMS Meets IPS

Downloads 94 (591,587)

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 59 (782,397)

Abstract:

Loading...

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 35 (990,007)

Abstract:

Loading...

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
Downloads 0
  • Add to Cart

Abstract:

Loading...

Confidence Crises, Dollar, Exorbitant Privilege, Nurkse Instability, reserve currencies, RMB, safe assets, Triffin dilemma

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 94 (591,587)
Citation 4

Abstract:

Loading...

32.

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 87 (620,582)
Citation 10

Abstract:

Loading...

33.

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 86 (625,007)
Citation 4

Abstract:

Loading...

34.

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 84 (633,895)
Citation 17

Abstract:

Loading...

35.

Networks, Barriers, and Trade

NBER Working Paper No. w26108
Number of pages: 98 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 75 (676,339)
Citation 12

Abstract:

Loading...

36.

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
Downloads 69 (707,919)
Citation 47

Abstract:

Loading...

37.

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

Downloads 68 (713,401)
Citation 6

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 68 (725,393)
Citation 2

Abstract:

Loading...

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
Downloads 0
Citation 4
  • Add to Cart

Abstract:

Loading...

complementarities, COVID-19, input-output linkages, production networks

38.

Shadow Banking and the Four Pillars of Traditional Financial Intermediation

Downloads 66 (724,901)
Citation 27

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 66 (737,535)
Citation 26

Abstract:

Loading...

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
  • Add to Cart

Abstract:

Loading...

CCPs., deposit insurance, lender of last resort, migration, Retail and shadow banks, ring fencing, Supervision

39.

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 64 (736,455)
Citation 35

Abstract:

Loading...

40.

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)
Downloads 61 (754,817)

Abstract:

Loading...

41.

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
Downloads 58 (773,955)
Citation 72

Abstract:

Loading...

42.

Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

Downloads 58 (773,955)
Citation 98

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)
Downloads 53 (825,849)
Citation 77

Abstract:

Loading...

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)
Downloads 5 (1,350,205)
Citation 21
  • Add to Cart

Abstract:

Loading...

bailouts, feedback loop, shared supervision, sovereign and corporate spreads, sovereign default

43.

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)
Downloads 58 (773,955)
Citation 1

Abstract:

Loading...

44.

Unconventional Fiscal Policy at the Zero Bound

Downloads 57 (780,630)
Citation 50

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
Downloads 51 (841,523)
Citation 2

Abstract:

Loading...

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
Downloads 6 (1,343,217)
Citation 48
  • Add to Cart

Abstract:

Loading...

Fiscal policy, Monetary Policy, Sticky Prices, Zero Bound;

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)
Downloads 56 (787,449)
Citation 9

Abstract:

Loading...

46.

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 56 (787,449)
Citation 41

Abstract:

Loading...

47.

Monetary Policy, Product Market Competition, and Growth

Downloads 55 (794,547)
Citation 3

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)
Downloads 53 (825,849)
Citation 3

Abstract:

Loading...

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)
Downloads 2 (1,368,080)
  • Add to Cart

Abstract:

Loading...

48.

Safe Asset Scarcity and Aggregate Demand

Downloads 55 (794,547)
Citation 50

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
Downloads 55 (810,887)
Citation 38

Abstract:

Loading...

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
Downloads 0
Citation 12
  • Add to Cart

Abstract:

Loading...

49.

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
Downloads 55 (794,547)
Citation 176

Abstract:

Loading...

50.

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
Downloads 53 (808,753)
Citation 7

Abstract:

Loading...

51.

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 49 (838,926)

Abstract:

Loading...

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 and Harvard University - Department of Economics
Downloads 47 (855,036)
Citation 3

Abstract:

Loading...

53.

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 47 (855,036)
Citation 225

Abstract:

Loading...

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
Downloads 45 (871,765)

Abstract:

Loading...

55.

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
Downloads 43 (888,985)
Citation 2

Abstract:

Loading...

56.

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 42 (897,884)
Citation 1

Abstract:

Loading...

57.

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
Downloads 41 (906,997)

Abstract:

Loading...

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 and Harvard University - Department of Economics
Downloads 40 (916,035)

Abstract:

Loading...

59.

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
Downloads 39 (925,391)
Citation 6

Abstract:

Loading...

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
Downloads 39 (925,391)
Citation 104
  • Add to Cart

Abstract:

Loading...

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

61.

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)
Downloads 38 (935,074)
Citation 25

Abstract:

Loading...

62.

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
Downloads 37 (944,789)
Citation 20

Abstract:

Loading...

63.

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 33 (985,315)
Citation 8

Abstract:

Loading...

64.

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
Downloads 28 (1,040,340)
Citation 8

Abstract:

Loading...

65.

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
Downloads 22 (1,112,819)
  • Add to Cart

Abstract:

Loading...

Phillips Curve, mark-up, labour market

66.

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
Downloads 1 (1,315,979)
Citation 3
  • Add to Cart

Abstract:

Loading...

COVID-19, demand and supply shocks, input-output linkages, Keynesian economics, Multi-Sector

67.

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
Downloads 1 (1,315,979)
Citation 4
  • Add to Cart

Abstract:

Loading...

68.

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
Downloads 1 (1,315,979)
Citation 5
  • Add to Cart

Abstract:

Loading...

aggregation, comovement, Heterogeneous Agents, production networks, propagation

69.

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
Downloads 0 (1,323,393)
  • Add to Cart

Abstract:

Loading...

70.

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
Downloads 0 (1,323,393)
  • Add to Cart

Abstract:

Loading...

71.

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
Downloads 0 (1,323,393)
  • Add to Cart

Abstract:

Loading...

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 and Harvard University - Department of Economics
Downloads 0 (1,323,393)
  • Add to Cart

Abstract:

Loading...

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

Abstract:

Loading...