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

SCHOLARLY PAPERS

73

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1,666

Scholarly Papers (73)

1.
Downloads 2,381 ( 7,396)
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
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 2,317 (7,603)
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: 29 Aug 2021
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 63 (435,707)
Citation 4

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Crash Risk in Currency Markets

CEPR Discussion Paper No. DP7322
Number of pages: 83 Posted: 15 Jul 2009
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 804 (38,480)
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 622 (54,298)
Citation 39

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

4.
Downloads 538 ( 65,086)
Citation 104

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 405 (90,867)
Citation 2

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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 2021
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 71 (408,531)
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 62 (439,304)

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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
Downloads 0
Citation 26
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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 491 (72,938)
Citation 7

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

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
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 309 (123,278)
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 2021
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 66 (425,222)
Citation 29

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7.
Downloads 374 (100,460)
Citation 18

Speculative Growth: Hints from the U.S. Economy

Number of pages: 52 Posted: 06 Jun 2004
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 338 (111,801)

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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: 07 Oct 2021
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 36 (555,110)
Citation 5

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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 251 (153,063)
Citation 86

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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 2021
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 64 (432,158)
Citation 36

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9.
Downloads 287 (134,069)
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 247 (155,548)

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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 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 40 (533,891)

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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 225 (170,326)
Citation 24

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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: 01 Aug 2021
Emmanuel Farhi and Francois Gourio
Harvard University - Department of Economics and Federal Reserve Bank of Chicago
Downloads 19 (670,188)
Citation 16

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11.

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

BIS Working Paper No. 222
Number of pages: 88 Posted: 20 Sep 2007
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 232 (165,799)

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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

12.
Downloads 230 (167,145)
Citation 69

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 188 (201,441)
Citation 1

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The Safety Trap

NBER Working Paper No. w19927
Number of pages: 69 Posted: 24 Feb 2014 Last Revised: 07 Feb 2021
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 42 (523,798)
Citation 34

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13.
Downloads 212 (180,592)
Citation 32

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 186 (203,356)
Citation 12

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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: 07 Feb 2021
Iván Werning and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 26 (617,323)
Citation 7

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14.

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 203 (188,038)
Citation 24

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

15.

Rents, Technical Change, and Risk Premia

MIT Department of Economics Working Paper No. 17-05
Number of pages: 13 Posted: 24 Mar 2017
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 191 (198,690)

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16.
Downloads 142 (255,246)
Citation 38

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 93 (347,044)

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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 Feb 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 49 (491,075)
Citation 11

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Global Imbalances and Policy Wars at the Zero Lower Bound

Number of pages: 67 Posted: 09 Mar 2020
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 68 (418,323)

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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: 18 Sep 2021
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 63 (435,707)
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
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 1 (828,486)
Citation 12
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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
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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18.

Financial Crash, Commodity Prices and Global Imbalances

NBER Working Paper No. w14521
Number of pages: 61 Posted: 08 Dec 2008 Last Revised: 07 Mar 2021
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 125 (281,412)
Citation 4

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19.

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 115 (298,726)

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20.
Downloads 113 (302,515)
Citation 43

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 94 (344,637)

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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 2021
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 19 (670,188)
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 13
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21.
Downloads 98 (332,995)
Citation 52

Fiscal Devaluations

NBER Working Paper No. w17662
Number of pages: 55 Posted: 17 Dec 2011 Last Revised: 06 Oct 2021
Emmanuel Farhi, Gita Gopinath and Oleg Itskhoki
Harvard University - Department of Economics, Harvard University - Department of Economics and Princeton University - Department of Economics
Downloads 45 (509,401)
Citation 19

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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, Harvard University - Department of Economics and Princeton University - Department of Economics
Downloads 43 (518,935)
Citation 4

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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, Harvard University - Department of Economics and Princeton University - Department of Economics
Downloads 10 (744,483)
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competitive devaluation, currency union, fiscal policy

22.
Downloads 93 (344,317)
Citation 74

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 62 (439,304)

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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: 24 May 2021
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 31 (584,181)
Citation 26

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23.

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 89 (353,873)
Citation 1

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

24.

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 88 (356,410)

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

25.

Reopening Scenarios

NBER Working Paper No. w27244
Number of pages: 42 Posted: 26 May 2020 Last Revised: 27 Jun 2021
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 68 (413,187)
Citation 9

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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 49 (491,075)
Citation 47

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

The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten&Apos;S Theorem

NBER Working Paper No. w23145
Number of pages: 72 Posted: 13 Feb 2017 Last Revised: 07 Oct 2021
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 19 (670,188)

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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 44 (514,179)

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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: 28 Jun 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 24 (631,936)
Citation 1

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28.

Bubbly Liquidity

NBER Working Paper No. w16750
Number of pages: 59 Posted: 31 Jan 2011 Last Revised: 09 Oct 2021
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 65 (423,136)
Citation 21

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29.

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: 14 Mar 2021
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 64 (426,477)
Citation 1

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30.

Fear of Rejection? Tiered Certification and Transparency

NBER Working Paper No. w14457
Number of pages: 39 Posted: 03 Nov 2008 Last Revised: 04 Jul 2021
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 63 (429,885)
Citation 4

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31.

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: 24 Sep 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 62 (433,344)
Citation 2

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32.

A Theory of Liquidity and Regulation of Financial Intermediation

NBER Working Paper No. w12959
Number of pages: 41 Posted: 15 Mar 2007 Last Revised: 07 Feb 2021
Harvard University - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale UniversityYale University - Cowles Foundation
Downloads 58 (447,637)
Citation 17

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33.
Downloads 42 (513,338)

China vs. U.S.: Ims Meets Ips

NBER Working Paper No. w25469
Number of pages: 11 Posted: 23 Jan 2019 Last Revised: 05 Aug 2021
Emmanuel Farhi and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 22 (646,931)

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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 20 (662,233)

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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

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

34.

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 2021
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 40 (522,801)

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35.

Optimal Taxation with Behavioral Agents

NBER Working Paper No. w21524
Number of pages: 54 Posted: 08 Sep 2015 Last Revised: 25 Apr 2021
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 39 (527,662)
Citation 26

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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 38 (544,272)
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
Downloads 0
Citation 4
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complementarities, COVID-19, input-output linkages, production networks

37.

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: 10 Sep 2021
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 35 (547,902)
Citation 3

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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: 11 Sep 2021
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 35 (547,902)
Citation 24

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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: 22 May 2021
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 32 (578,168)
Citation 10

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

40.

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 Oct 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 32 (564,036)
Citation 73

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41.
Downloads 32 (564,036)
Citation 81

Unconventional Fiscal Policy at the Zero Bound

NBER Working Paper No. w16758
Number of pages: 28 Posted: 07 Feb 2011 Last Revised: 17 Oct 2021
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 28 (603,593)
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
Bank of Portugal - Economic Research Department, Harvard University - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 4 (795,829)
Citation 25
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Fiscal policy, Monetary Policy, Sticky Prices, Zero Bound;

Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

NBER Working Paper No. w21843
Number of pages: 84 Posted: 12 Jan 2016 Last Revised: 08 Sep 2021
Emmanuel Farhi and Jean Tirole
Harvard University - Department of Economics and University of Toulouse 1 - Industrial Economic Institute (IDEI)
Downloads 28 (603,593)
Citation 17

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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)
Downloads 3 (804,617)
Citation 23
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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 2021
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 31 (569,597)
Citation 1

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44.

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: 18 Jul 2021
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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45.

Monetary Policy, Bounded Rationality, and Incomplete Markets

NBER Working Paper No. w23281
Number of pages: 56 Posted: 27 Mar 2017 Last Revised: 13 Aug 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 43

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46.

Insurance and Taxation Over the Life Cycle

NBER Working Paper No. w16749
Number of pages: 54 Posted: 31 Jan 2011 Last Revised: 08 Oct 2021
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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47.
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Citation 40

Safe Asset Scarcity and Aggregate Demand

NBER Working Paper No. w22044
Number of pages: 12 Posted: 01 Mar 2016 Last Revised: 26 Sep 2021
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 27 (610,292)
Citation 14

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Safe Asset Scarcity and Aggregate Demand

CEPR Discussion Paper No. DP11170
Number of pages: 13 Posted: 18 Apr 2016
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 9
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48.

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 2021
Emmanuel Farhi
Harvard University - Department of Economics
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Citation 5

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49.

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

CEPR Discussion Paper No. 5573
Number of pages: 57 Posted: 27 Jun 2006
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 47
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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

50.

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

51.

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: 30 Apr 2021
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 Harvard University - Department of Economics
Downloads 19 (648,351)
Citation 6

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52.

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 18 (655,536)

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53.

Fiscal Multipliers: Liquidity Traps and Currency Unions

NBER Working Paper No. w18381
Number of pages: 70 Posted: 15 Sep 2012 Last Revised: 23 Sep 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 17 (662,665)
Citation 20

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54.

The Microeconomic Foundations of Aggregate Production Functions

NBER Working Paper No. w25293
Number of pages: 61 Posted: 26 Nov 2018 Last Revised: 12 Aug 2021
David Rezza Baqaee and Emmanuel Farhi
London School of Economics & Political Science (LSE) - London School of Economics and Harvard University - Department of Economics
Downloads 15 (677,381)
Citation 3

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55.

Productivity and Misallocation in General Equilibrium

NBER Working Paper No. w24007
Number of pages: 100 Posted: 13 Nov 2017 Last Revised: 07 Aug 2021
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 76

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56.

Macroeconomics with Heterogeneous Agents and Input-Output Networks

NBER Working Paper No. w24684
Number of pages: 61 Posted: 18 Jun 2018 Last Revised: 13 Jun 2021
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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57.

Estate Taxation with Altruism Heterogeneity

NBER Working Paper No. w18792
Number of pages: 27 Posted: 09 Feb 2013 Last Revised: 08 May 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 13 (692,912)
Citation 1

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58.

Coordination and Crisis in Monetary Unions

NBER Working Paper No. w20277
Number of pages: 44 Posted: 24 Jul 2014 Last Revised: 29 May 2021
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 Harvard University - Department of Economics
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Citation 13

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59.

Labor Mobility within Currency Unions

NBER Working Paper No. w20105
Number of pages: 28 Posted: 14 May 2014 Last Revised: 09 Jun 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 12 (700,813)
Citation 1

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60.

Networks, Barriers, and Trade

NBER Working Paper No. w26108
Number of pages: 109 Posted: 02 Aug 2019 Last Revised: 03 May 2021
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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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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Monetary Policy, Product Market Competition and Growth

Economica, Vol. 86, Issue 343, pp. 431-470, 2019
Number of pages: 40 Posted: 08 May 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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62.

The Macroeconomics of Border Taxes

NBER Working Paper No. w24702
Number of pages: 53 Posted: 11 Jun 2018 Last Revised: 01 Jul 2021
Harvard University, Harvard University - Department of Economics, Harvard University - Department of Economics and Princeton University - Department of Economics
Downloads 10 (716,334)
Citation 8

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63.

A Short Note on Aggregating Productivity

NBER Working Paper No. w25688
Number of pages: 18 Posted: 26 Mar 2019 Last Revised: 10 Sep 2021
David Baqaee and Emmanuel Farhi
London School of Economics and Political Science, Department of International Development, Students and Harvard University - Department of Economics
Downloads 9 (724,338)
Citation 1

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64.

The Darwinian Returns to Scale

NBER Working Paper No. w27139
Number of pages: 73 Posted: 12 May 2020 Last Revised: 28 Aug 2021
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
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65.

Entry vs. Rents: Aggregation with Economies of Scale

NBER Working Paper No. w27140
Number of pages: 49 Posted: 12 May 2020 Last Revised: 29 Aug 2021
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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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 2
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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 4
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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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