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  • Florin O Bilbiie, Fabio Ghironi, Marc J Melitz, Susanto Basu, Christian Broda, Sanjay Chugh +18 others
  • 2012
Previously circulated under the title " Business Cycles and Firm Dynamics " and …rst presented in the summer of 2004. For helpful comments, we thank Robert Shimer, two anonymous referees, and participants in many conferences and seminars. We are grateful to and Banque de France for …nancial support through the Chaire Banque de France at the Paris School of(More)
Jón Steinsson, and numerous seminar participants for helpful discussions and comments. Financial support from the Center for Equitable Growth at UC Berkeley is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated(More)
  • S Bora˘ Gan Aruoba, Frank Schorfheide, S Boragan Aruoba, Christopher J Waller, Randall Wright, Sanjay Chugh +7 others
  • 2009
We develop a two-sector monetary model with a centralized and decentralized market. Activities in the centralized market resemble those in a standard New Keynesian economy with price rigidities. In the decentralized market agents engage in bilateral exchanges for which money is essential. This paper is the first to formally estimate such a model, evaluate(More)
  • Stefania Albanesi, Boragan Aruoba, Marco Bassetto, Martin Bodenstein, Sanjay Chugh, Pierre Yared
  • 2007
We consider a very general class of public …nance problems that encompasses Ram-sey models of optimal taxation as well as economies with limited commitment, private information, and political economy frictions. We identify a su¢ cient condition to rule out permanent intertemporal distortions at the optimum: If there exists an admissible allocation that(More)
  • Robert F Martin, Sanjay Chugh, Morris Davis, Linda Kole, Thomas Tallarini, Brian Doyle +2 others
  • 2005
This paper explores the baby boom's impact on U.S. house prices and interest rates in the postwar 20 th century and beyond. Using a simple Lucas asset pricing model, I quantitatively account for the increase in real house prices, the path of real interest rates, and the timing of low-frequency fluctuations in real house prices. The model predicts that the(More)
We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ram-sey models. Two especially important findings emerge from our work: the(More)
The World Health Organization estimated that major depression is the fourth most significant cause of disability worldwide for people aged 65 and older, where depressed older adults reported decreased independence, poor health, poor quality of life, functional decline, disability, and increased chronic medical problems. Therefore, the objectives of this(More)
  • S Bora¼ Gan Aruoba, Michael Brandt, Sean Campbell, Sanjay Chugh, Dean Croushore, Iourii Manovski +4 others
  • 2004
In this paper, using recent empirical results regarding the statistical properties of macroeconomic data revisions, we study the e¤ects of data revisions in a general equilibrium framework. We …nd that the presence of data revisions, or data uncertainty, creates a precautionary motive and causes signi…cant changes in the decisions of agents. We also …nd(More)
BACKGROUND Non-invasive brain stimulation (NIBS) is a promising tool for facilitating motor function. NIBS therapy in conjunction with training using postural feedback may facilitate physical rehabilitation following posture disorders (e.g., Pusher Syndrome). OBJECTIVES The objectives of this study were, 1) to develop a low-cost point-of-care-testing(More)
This paper applies Landais, Michaillat, and Saez's [2015] theory of optimal unemployment insurance (UI) to determine how optimal UI varies over the business cycle. The optimal UI replacement rate is the Baily-Chetty rate plus a correction term. The statistics entering the correction term are evaluated using empirical evidence for the United States: since(More)