Jeremy Greenwood

Research

 


Books


Jeremy Greenwood (2019), Evolving Households: The Imprint of Technology on Life. Cambridge MA, The MIT Press.

Synopsis 

 

Chapters: Introduction, (i) More Working Mothers, (ii) The Baby Boom and Baby Bust, (iii) The Decline in Marriage, (iv) Social Change, (v) Increased Longevity and Longer Retirement, (vi) Conclusion, Mathematical Appendix, and Index

 

The Household Equipment Revolution

 

Podcast: Your Last Meal with Rachel Belle (Interview--I'm at minutes 10:33-14:10)

  

Endorsements

 

Discussion in Omnia

 

Penn Today--Excerpt

 

Review on EH.net by Olga Malkova

 

Mrs. Verett is here!

 


Jeremy Greenwood and Ricardo Marto (2024), Numerical Methods for Macreconomists.

A primer on numerical methods in macroeconomics for advanced undergraduates and beginning graduate students.

Primer, Alpha Version 

 

Keywords: Aiyagari model, calibration, Coleman algorithm, difference equations, dynamic programming, endogenous grid method, interpolating functions, linearization, Markov chains, maximization problems, Monte Carlo simulation, nonlinear equations, numerical differentiation and integration, parameterized expectations, random number generation

 


Unpublished Papers


Effrosyni Adamopoulou, Jeremy Greenwood, Nezih Guner and Karen A. Kopecky (2024), "The Role of Friends in the Opioid Epidemic."

The role of friends in the US opioid epidemic is examined. Using data from the National Longitudinal Survey of Adolescent Health (Add Health), adults aged 25-34 and their high school best friends are focused on. An instrumental variable technique is employed to estimate peer effects in opioid misuse.
Severe injuries in the previous year are used as an instrument for opioid misuse in order to estimate the causal impact of someone misusing opioids on the probability that their best friends also misuse. The estimated peer effects are significant: Having a best friend with a reported serious injury in the previous year increases the probability of own opioid misuse by around 7 percentage points in a population where 17 percent ever misuses opioids. The effect is driven by individuals without a college degree and those who live in the same county as their best friends.

Paper 

Opioid Crisis: Friendships Can Pose a Risk

 

Peter Coy, NYtimes

 

Keywords: opioid, friends, instrumental variables, Add Health, severe injuries, peer-group effects


Jeremy Greenwood, Nezih Guner and Karen A. Kopecky (2022), "The Downward Spiral."

There have been more than 500,000 opioid overdose deaths since 2000. To analyze the opioid epidemic, a model is constructed where individuals choose whether to abuse opioids knowing the probabilities of addiction and dying. These odds are functions of recreational opioid use. Markov chains are estimated from the US data for the college and non-college educated that summarize the transitions into and out of opioid addiction as well as to a deadly overdose. A structural model is constructed that matches the estimated Markov chains. The epidemic's drivers, and the impact of medical interventions, are examined.

Paper 

Discussion in Omnia

 

Keywords: addiction, college/non-college educated, deaths, fentanyl, Markov chain, medical interventions, opioids, OxyContin, pain, prices, state-contingent preferences, structural model, subjective and objective beliefs


Published Papers


Jeremy Greenwood, Yueyuan Ma and Mehmet Yorukoglu (2024, 2nd revision), "`You Will:' A Macroeconomic Analysis of Digital Advertising." Review of Economic Studies, forthcoming.

An information-based model is developed where traditional and digital advertising finance the provision of free media goods and affect price competition. Digital advertising is directed toward consumers while traditional advertising is undirected. The equilibrium is suboptimal. Media goods are under provided with both types of advertising. Additionally, traditional advertising is excessive because it is undirected. The tax-cum-subsidy policy that overcomes these inefficiencies is characterized. The model is calibrated to the U.S. economy. Digital advertising increases welfare significantly and is disproportionately financed by better-off consumers. The welfare gain from the optimal policy is much smaller than the gain from digital advertising.

 

Paper 

Economics of Digital Services Blog

 

Keywords:  AT&T's "You Will" advertising compaign, consumer welfare, digital and traditional advertising, directed and undirected advertising, free media goods, GDP measurement, leisure, information frictions, price competition, public policy

 


Salome Baslandze, Jeremy Greenwood, Ricardo Marto and Sara Moreira (2023), "The Expansion of Product Varieties in the New Age of Advertising," Review of Economic Dynamics, v. 50, October: 171-210.

Abstract and Paper

Keywords: causality, digital (directed) advertising, lightening strikes, micro-level data, product lines, regression analysis, specialization, targeting, traditional (undirected) advertising, varieties, welfare 


Jeremy Greenwood, Nezih Guner and Ricardo Marto (2023), "The Great Transition: Kuznets Facts for Family-Economists," Handbook of the Economics of the Family, edited by Shelly Lundberg and Alessandra Voena, (Amsterdam: Elsevier), 389-441.

Abstract and Paper

The Household Equipment Revolution

Video Summary (13.58 minutes)

Ask Kuznets! Interactive facts

Keywords: average weekly hours, blue-collar jobs, calibration, college premium, education, family economics, fertility, housework, Kuznets, leisure, market work, marriage, neutral techological progress, price of labor saving durables, skilled-biased technological progress, white-collar jobs 


Ufuk Akcigit, Emin Dinlersoz, Jeremy Greenwood and Veronika Penciakova (2022), "Synergizing Ventures," Journal of Economic Dynamics and Control, v. 143, October: 104427.

Abstract and Paper  

 

Podcast: They're really punching above their own weight: Venture capital and firm growth (23:45 minutes)

 

Discussion in Vox

Keywords: assortative matching, endogenous growth, IPO, management, mergers and acquisitions, research and development, selection effects, startups, synergies, taxation, treatment effects, venture capital


Jeremy Greenwood, Pengfei Han and Juan M. Sanchez (2022), "Financing Ventures," International Economic Review, v. 63, n. 3: 1021-1053.

Abstract and Paper 

 

"An Elementary Model of VC Financing and Growth." Federal Reserve Bank of St Louis Review,  v. 105, n. 1 (First Quarter 2023).

 

"Venture Capital: A Catalyst for Innovation and Growth." Federal Reserve Bank of St Louis Review,  v. 104, n. 2 (Second Quarter 2022).

Keywords: capital gains taxation, development, dynamic contracts, endogenous growth, evaluating, funding rounds, growth regressions, IPO, monitoring, research, startups, venture capital 


Jeremy Greenwood, Nezih Guner and Karen Kopecky (2022), "Substance Abuse during the Pandemic: Implications for Labor-Force Participation," HSOA Journal of Addiction and Addictive Disorders, v. 9, n. 2: 100087.

Abstract and Paper 

Daytime Drinking and Drug Use Surges With Remote Work (1:17 minutes)

The Nation Speaks--Opioid, Meth Abuse During Pandemic Helps Explain Absent Workforce (9:43 minutes)

Amanda Perez Pintado, USA Today

Steve Matthews, Bloomberg

Keywords: COVID-19 pandemic, substance abuse, labor-force participation


Jeremy Greenwood, Nezih Guner and Karen A. Kopecky (2021), "The Wife's Protector: A Quantitative Theory Linking Contraceptive Technology with the Decline in Marriage," in the Handbook of Historical Economics, edited by Alberto Bison and Federico Giovanni, (Amsterdam: Academic Press, Elsevier), 903-943.

Abstract and Paper 

Discussion in Vox

Keywords:  age of marriage, contraceptive technology, history, never-married population, number of partners, out-of-wedlock births, premarital sex, singles.


Jeremy Greenwood, Philipp Kircher, Cezar Santos and Michele Tertilt (July 2019), "An Equilibrium Model of the African HIV/AIDS Epidemic," Econometrica, v. 87, n. 4: 1081-1113.

Eleven percent of the Malawian population is HIV infected. Eighteen percent of sexual encounters are casual. A condom is used one quarter of the time. To analyze the Malawian epidemic, a choice-theoretic general equilibrium search model is constructed. In the developed framework, people select between different sexual practices while knowing the inherent risk. The calibrated model is used to study several policy interventions. The analysis suggests that the efficacy of public policy depends upon the induced behavioral changes and equilibrium effects. The framework thus complements the insights provided by epidemiological studies and small-scale field experiments.

 

Paper 

Video: Where do we stand in the fight against HIV? (3:35 minutes)

Discussion in VoxDev

Keywords: circumcision, condoms, disease transmission, epidemiological studies, HIV/AIDS, homo economicus, Malawi, marriage, policy intervention, search, small field experiments, STDs, sex markets

 

 

Original Version with Bayesian Learning 

Discussion in Vox


Jeremy Greenwood and David Weiss (August 2018), "Mining Surplus: Modeling James A. Schmitz's Link Between Competition and Productivity," International Economic Review, v. 59, n. 3: 1015–1034.

Abstract and Paper 

 

Keywords:  Bodies, effort, James A. Schmitz, iron ore, membership, monopoly profits, Nash bargaining, productivity, unions

 


Jeremy Greenwood, Nezih Guner and Guillaume Vandenbroucke (December 2017), "Family Economics Writ Large." Journal of Economic Literature, v. 55, n. 4: 1346–1434.

Abstract and Paper 

Video: Women's Liberation: An Economic Perspective  (5:58 minutes)

Ana Swanson, The Washington Post

Keywords: Assortative mating, baby boom, baby bust, family economics, female labor supply, fertility, household income inequality, household production, human capital, macroeconomics, marriage and divorce, quality-quantity tradeoff, quantitative theory, premarital sex, single mothers, social change, survey, technological progress, women's rights

 


Jeremy Greenwood, Philipp Kircher, Cezar Santos and Michele Tertilt (May 2017), "The Role of Marriage in Fighting HIV: A Quantitative Illustration for Malawi," American Economic Review (Papers and Proceedings), v. 107, n. 5: 158-162.

Abstract and Paper 

 

Keywords: AIDS, circumcision, condoms, general equilibrium modeling, HIV, marriage and divorce, Malawi, sex markets, search

 


Emin Dinlersoz, Jeremy Greenwood and Henry R. Hyatt (May 2017), "What Businesses Attract Unions? Unionization over the Life-Cycle of U.S. Establishments," Industrial and Labor Relations Review, v. 70, n. 3: 733–766.

Abstract and Paper 

 Keywords: Unionization, Union Organizing, Union Selection, Union Certification Election, Diffusion of Unionization, Employer Resistance to Unionization, Bayesian Learning


Emin Dinlersoz and Jeremy Greenwood (October 2016), "The Rise and Fall of Unions in the United States," Journal of Monetary Economics, v. 83: 129-146.

Abstract and Paper 

 

Discussion in BloombergBusiness

Discussion in Regional Focus

Discussion in the Atlantic, I

Discussion in the Atlantic, II

Discussion in the Atlantic, III

 

Keywords: Computer Age; De-unionization; Distribution of Income; Flexible Manufacturing; Mass Production; Numerically Controlled Machines; Skill-Biased Technological Change; Simulation Analysis; Union Membership

 


Harold L. Cole, Jeremy Greenwood and Juan M. Sanchez (July 2016), "Why Doesn't Technology Flow from Rich to Poor Countries?" Econometrica, v. 84, n. 4: 1477-1521.

Abstract and Paper

 

Research Report--Extended Version

 

Keywords: Costly cash-flow control; costly state verification; dynamic contract theory; economic development; establishment-size distributions; finance and development; financial intermediation; India, Mexico, and the United States; long- and short-term contracts; monitoring; productivity; retained earnings; self-finance; technology adoption; ventures

 


Ufuk Akcigit, Murat Alp Celik and Jeremy Greenwood (May 2016), "Buy, Keep or Sell: Economic Growth and the Market for Ideas," Econometrica, v. 84, n. 3: 943-984.

Abstract and Paper 

 

Research Report--Extended Version

 

Keywords:  Growth, ideas, innovation, misallocation, patents, patent agents, research and development, search frictions

 


 

Jeremy Greenwood, Nezih Guner, Georgi Kocharkov and Cezar Santos (January 2016), "Technology and the Changing Family: A Unified Model of Marriage, Divorce, Educational Attainment and Married Female Labor-Force Participation," American Economic Journal: Macroeconomics, v. 8, n. 1: 1-41.

Abstract and Paper

 

Keywords: Assortative mating, education, female labor supply, household income inequality, household production, marriage and divorce, minimum distance estimation

 


 

Jeremy Greenwood, Ananth Seshadri and Guillaume Vandenbroucke (September 2015), "Measurement without Theory, Once Again," Journal of Demographic Economics, v. 81, n. 3: 317-329.

 

Abstract and Paper

 

Keywords: Amish, Appliances, Baby Boom, Bailey and Collins (2011), Fertility, Indirect Inference, Minimum Distance Estimation, Regressions

 

Erratum: Pg. 320 – Missing “=” sign inserted on pdf.

 


Jeremy Greenwood, Nezih Guner, Georgi Kocharkov and Cezar Santos (May 2014, revised), "Marry Your Like: Assortative Mating and Income Inequality," American Economic Review (Papers and Proceedings), v. 104, n. 5: 348-353.

Abstract and Revised Paper

Corrigendum

 

Keywords:  Assortative mating, contingency table, Gini coefficient, income inequality, Lorenz curve, married female labor-force participation, standardized contingency table

 


Jesϊs Fernαndez-Villaverde, Jeremy Greenwood, and Nezih Guner (February 2014), "From Shame to Game in One Hundred Years: An Economic Model of the Rise in Premarital Sex and its De-Stigmatization," Journal of the European Economic Association, v. 12, n. 1: 25-61.

Abstract and Paper 

Video Summary  (3:15 minutes)

Discussion in Freakonomics Blog,The New York Times

Discussion in Vox, I

Discussion in Vox, II

Keywords: Add Health, contraception, culture, peer group effects, premarital sex, shame, socialization, stigma, technological progress


Jeremy Greenwood, Juan M. Sanchez and Cheng Wang (January 2013), "Quantifying the Impact of Financial Development on Economic Development," Review of Economic Dynamics. (Special issue on "Misallocation and Productivity," edited by Diego Restuccia and Richard Rogerson.) v. 16, n. 1: 194-215.

Abstract and Paper 

Lecture Notes

Keywords: Costly-state verification, economic development, financial intermediation, firm-size distribution, interest-rate spreads, cross-country output differences, cross-country TFP differences

 


Jeremy Greenwood and Karen A. Kopecky (January 2013), "Measuring the Welfare Gain from Personal Computers," Economic Inquiry, v. 51, n. 1: 336-347.

Abstract and Paper 

MATLAB Program

Discussion in the Wall Street Journal's Real Time Economics Blog

Discussion in Vox

Keywords: Compensating variation, computers, electricity, equivalent variation, Fisher ideal price index, new goods, technological progress, Tornqvist price index, welfare gain

Erratum: Pg. 345 – Noted on pdf for paper.


Jeremy Greenwood, Juan M. Sanchez and Cheng Wang (September 2010), "Financing Development: The Role of Information Costs," American Economic Review, v. 100, n. 4: 1875-1891.

Abstract and Paper 

Keywords: Financial intermediation, economic development, costly-state verification, firm-size distribution.


Jeremy Greenwood and Nezih Guner (November 2010), "Social Change: The Sexual Revolution," International Economic Review, v. 51, no. 4: 893-923.

Abstract and Paper 

Data; Kiel University Conference on Income Distribution and the Family--Keynote Speech; Research Report--Extended Version

Erratum

Keywords: Social change; the sexual revolution; technological progress in contraceptives, bilateral search.


Jeremy Greenwood and Nezih Guner (2009), "Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households," NBER Macroeconomics Annual 2008, v. 23, edited by Daron Acemoglu, Kenneth Rogoff and Michael Woodford (Chicago: University of Chicago Press), 231-276.

Abstract and Paper 

Data; Midwest Macro Meetings--Plenary Address; Research Report--Extended Version

Discussion in BusinessWeek Online

Keywords: Marriage, divorce, hours worked, household production, household size, technological progress.

Erratum: Eq. 9 – Lefthand side should read d(um-us)/dp.


Jeremy Greenwood and Guillaume Vandenbroucke (2008), "Hours Worked (Long-Run Trends)," in The New Palgrave Dictionary of Economics, v. 4, 2nd edition, edited by Lawrence E. Blume and Steven N. Durlauf, (New York, N.Y.: Palgrave Macmillan), 75-81.

Abstract and Paper 

Data

Keywords: Hours worked, leisure, housework, household production, Edgeworth-Pareto complementarity/substitutability, technological progress.


Jeremy Greenwood and Per Krusell (May 2007), "Growth Accounting with Investment-Specific Technological Progress: A Discussion of Two Approaches," Journal of Monetary Economics, v. 54, n. 4: 1300-1310.

Paper 

Keywords: Investment-specific technological progress, capital embodiment, growth accounting.  


Jeremy Greenwood and Gokce Uysal (June 2005), "New Goods and the Transition to a New Economy," Journal of Economic Growth, v. 10, n. 2: 99-134.

Abstract and Paper 

Keywords: New goods, structural change, technological progress, welfare indices.


Jeremy Greenwood and Ananth Seshadri (2005), "Technological Progress and Economic Transformation," in the Handbook of Economic Growth, v. 1B, edited by Philippe Aghion and Steven N. Durlauf, (Amsterdam: Elsevier North-Holland), 1225-1273.

Abstract and Paper 

SED Meetings--Plenary Address

Keywords: Child labor, economic growth, educational attainment, female labor-force participation, fertility, household production theory, technological progress.


Jeremy Greenwood, Ananth Seshadri and Guillaume Vandenbroucke (March 2005), "The Baby Boom and Baby Bust," American Economic Review, v. 95, n. 1: 183-207.

Abstract and Paper

The Baby Boom and Baby Bust in OECD Countries: Data and Graphs; Lecture Notes

Discussion in Deutsche Bank Research

Reply to Bailey and Collins (2011)

Keywords: Baby boom, baby bust, household production, technological progress.


Jeremy Greenwood, Ananth Seshadri and Mehmet Yorukoglu (January 2005), "Engines of Liberation," Review of Economic Studies, v. 72, n. 1: 109-133.

Abstract and Paper

The Household Equipment Revolution

Engines of Liberation: Additional Notes

Data--Basic Facilities and Appliances; Lecture Notes

Video: Women's Liberation: An Economic Perspective  (5:58 minutes)

Discussion in the Wonkblog, The Washington Post

Discussion in The Regional Economist

Discussion in The Wall Street Journal

Discussion in Slate Magazine

Discussion in The Times of India

Keywords: female labor-force participation, household production theory, the second industrial revolution, technology adoption.


Jeremy Greenwood, Nezih Guner and John Knowles (August 2003), "More on Marriage, Fertility, and the Distribution of Income," International Economic Review, v. 44, n. 3: 827-862.

Paper

Keywords: Fertility; marriage and divorce; Nash bargaining; income distribution; public policy


Jeremy Greenwood and Ananth Seshadri (May 2002), "The U.S. Demographic Transition," American Economic Review (Papers and Proceedings) v. 92, n. 2: 153-159.

Paper

Lecture Notes

Keywords: Fertility, technological progress, agriculture, manufacturing.

JEL Classification Nos: E1, J1, O3.


S. Rao Aiyagari, Jeremy Greenwood, and Ananth Seshadri (February 2002), "Efficient Investment in Children," Journal of Economic Theory, v. 102, n. 2: 290-321.

Paper

Keywords: Investment in children; efficiency; imperfect financial markets; impure altruism; lack of child-care markets.

JEL Classifications: D1, D31, D58, I2

Erratum: Eq. 34 – Put a θ in front of the V.


Joao Gomes, Jeremy Greenwood, and Sergio Rebelo (August 2001), "Equilibrium Unemployment," Journal of Monetary Economics, v. 48, n. 1: 109-152.

Paper

Keywords: Search; incomplete markets; business cycles; unemployment insurance; welfare costs of business cycles.

JEL Classifications: E24, E32


Jeremy Greenwood and Boyan Jovanovic (2001), "Accounting for Growth," in New Developments in Productivity Analysis, edited by Charles R. Hulten, Edwin R. Dean and Michael J. Harper. Chicago: University of Chicago Press (for NBER), 179-222.

A satisfactory account of the postwar growth experience of the United States should be able to come to terms with the following three facts:

  1. Since the early 1970's there has been a slump in the advance of productivity.
  2. The price of new equipment has fallen steadily over the postwar period.
  3. Since the mid-1970's the skill premium has risen.

Variants of Solow's (1960) vintage-capital model can go a long way toward explaining these facts, as this paper shows. In brief, the explanations are:

  1. Productivity slowed down because the implementation of information technologies was both costly and slow.
  2. Technological advance in the capital goods sector has lead to a decline in equipment prices.
  3. The skill premium rose because the new, more efficient capital is complementary with skilled labor and/or because the use of skilled labor facilitates the adoption of new technologies.

Paper

Keywords: Investment-specific technological progress, vintage-capital models, learning by doing, diffusion lags.

JEL Classifications: O3, O4


Jeremy Greenwood, Nezih Guner and John Knowles (May 2000), "Woman on Welfare: A Macroeconomic Analysis," American Economic Review (Papers and Proceedings), v. 92, n. 2: 383-388.

Paper


Jeremy Greenwood, Zvi Hercowitz and Per Krusell (January 2000), "The Role of Investment-Specific Technological Change in the Business Cycle," European Economic Review, v. 44, n. 1: 91-115.

Paper

Keywords: Investment-specific technological change; business cycles

JEL Classification: E3, O3, O4


S. Rao Aiyagari, Jeremy Greenwood and Nezih Guner (April 2000), "On the State of the Union," Journal of Political Economy, v. 108, n. 2: 213-244.

Paper

Historical Discussion

Keywords: Intergenerational mobility; marriage and divorce; children; public policy


Jeremy Greenwood and Boyan Jovanovic (May 1999), "The IT Revolution and the Stock Market," American Economic Review (Papers and Proceedings) v. 89, n. 2: 116-122.

Paper

Discussion in Business Week.

Discussion in The Wall Street Journal.


Michael Gort, Jeremy Greenwood, and Peter Rupert (January 1999), "Measuring the Rate of Technological Progress in Structures," Review of Economic Dynamics v. 2, n. 1: 207-230.

Paper

Keywords: Investment-specific technological progress; economic growth; vintage capital; replacement problem; economic depreciation; rent gradient.


Michael Gort, Jeremy Greenwood, and Peter Rupert (1999), "How Much of Economic Growth is Fueled by Investment-Specific Technological Progress?" Economic Commentary.

Discovering how economies grow is vitally important for economists and policymakers alike. This Commentary shows that more than half of U.S. economic growth can be attributed to technological advance in equipment and structures.

Paper


Thomas F. Cooley, Jeremy Greenwood, and Mehmet Yorukoglu (December 1997), "The Replacement Problem," Journal of Monetary Economics v. 40, n. 3: 457-499.

Paper

Keywords: Investment-Specific Technological Change; Vintage Capital; Economic Growth


Jeremy Greenwood (1997), The Third Industrial Revolution: Technology, Productivity and Income Inequality, AEI Studies on Understanding Inequality, Washington, DC. The AEI Press. Also printed in the Economic Review, 1999, Federal Reserve Bank of Cleveland.

Was 1974 a watershed? It was dawning of the information age, a period of rapid technological advance associated with the introduction of information technologies. It also was the start of a sharp rise in income inequality and signaled the beginning of the productivity slowdown. Were these phenomena related? Could they have been the result of an Industrial Revolution associated with the introduction of information technologies? The answer offered here is yes, and a simple theory connecting the phenomena is outlined. Evidence is presented showing that the coincidence of rapid technological change, widening inequality, and slowdowns in productivity growth are not with out precedence in economic history. Just as the steam engine shook 18th century England, and electricity rattled 19th century America, it is argued that information technologies are rocking the 20th century economy. (This paper is a nontechnical version of "1974".)

Paper


Jeremy Greenwood, Zvi Hercowitz, and Per Krusell (June 1997), "Long-Run Implications of Investment-Specific Technological Change," American Economic Review v. 87, n. 3: 342-362.

Paper


Jeremy Greenwood and Bruce D. Smith (January 1997), "Financial Markets in Development, and the Development of Financial Markets," Journal of Economic Dynamics and Control, v. 21, no. 1: 145-181..

Paper


Jeremy Greenwood and Mehmet Yorukoglu (June 1997), "1974," Carnegie-Rochester Conference Series on Public Policy, v. 46: 49-95.

Paper  

Discussion in Newsweek


Jeremy Greenwood, Glenn M. MacDonald, and Guang-Jia Zhang (February 1996), "The Cyclical Behavior of Job Creation and Job Destruction: A Sectoral Model," Economic Theory, v. 7, no. 1: 95-112.

Paper


Jeremy Greenwood, Richard Rogerson, and Randall Wright (1995), "Household Production in Real Business Cycle Theory," Frontiers of Business Cycle Research (Editor, Thomas F. Cooley) Princeton University Press: 157-174.

This paper surveys the role of household production in modern business cycle analysis.

Abridged version of the Paper


Jeremy Greenwood and Gregory W. Huffman (April 1995), "On the Existence of Nonoptimal Equilibria," Journal of Economic Theory, v. 65, no. 2: 611-623.

Paper


Paul Gomme and Jeremy Greenwood (January-February 1995), "On the Cyclical Allocation of Risk," Journal of Economic Dynamics and Control, v. 19, no. 1-2: 91-124.

Paper


Jeremy Greenwood and R. Preston McAfee (February  1991), "Externalities and Asymmetric Information," Quarterly Journal of Economics, v. CVI, no. 1: 103-121.

Paper


Jeremy Greenwood and Zvi Hercowitz (December 1991), "The Allocation of Capital and Time Over the Business Cycle," Journal of Political Economy, v. 99, no. 6: 1188-1214.

Paper


Jeremy Greenwood and Gregory W. Huffman (April 1991), "Tax Analysis in a Real Business Cycle Model: On Measuring Harberger Triangles and Okun Gaps," Journal of Monetary Economics, v. 27, n. 2: 167-190.

Paper


Jeremy Greenwood and Boyan Jovanovic (October 1990), "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy, v. 98, n. 5: 1076-1107.

Paper

Lecture Notes


Jeremy Greenwood and Stephen D. Williamson (May 1989), "International Financial Intermediation and Aggregate Fluctuations under Alternative Exchange Rate Regimes," Journal of Monetary Economics, v. 23, n. 3: 401-431.

Paper


Jeremy Greenwood and Gregory W. Huffman (August 1988), "On Modelling the Natural Rate of Unemployment with Indivisible Labour,’’ Canadian Journal of Economics, v. XXI, n. 3: 587-609.

Paper


Jeremy Greenwood, Zvi Hercowitz and Gregory W. Huffman (June 1988), "Investment, Capacity Utilization, and the Real Business Cycle," American Economic Review, v. 78, n. 3: 402-417.

Paper

Fortran Computer Code


Jeremy Greenwood and Kent P. Kimbrough (June 1987), "Foreign Exchange Controls in a Black Market Economy," Journal of Development Economics. v. 26, n. 1: 129-143.

Paper


Jeremy Greenwood and Kent P. Kimbrough (May 1987), "An Investigation in the Theory of Foreign Exchange Controls," Canadian Journal Economics. v. XX, n. 2: 271-288.

Paper


Jeremy Greenwood and Gregory W. Huffman (March 1987), "A Dynamic Equilibrium Model of Inflation and Unemployment," Journal of Monetary Economics. v. 19, n. 2: 203-228.

Paper


David Aschauer and Jeremy Greenwood (Autumn 1985), " Macroeconomic Effects of Fiscal Policy,’’ Carnegie-Rochester Conference Series on Public Policy, v. 23: 91-138.

Paper


Jeremy Greenwood and Kent P. Kimbrough (November 1985), "Capital Controls and Fiscal Policy in the World Economy,’’ Canadian Journal of Economics, v. XVIII, n. 4: 43-765.

Paper


Charles Adams and Jeremy Greenwood (February 1985), "Dual Exchange Rate Systems and Capital Controls: An Investigation," Journal of International Economics. v. 18, n. 1/2: 43-63.

Paper


Jeremy Greenwood (November 1984), ‘’Non-Traded Goods, the Trade Balance, and the Balance of Payments,’’ Canadian Journal of Economics, v. XVII, n. 4: 806-823.

Paper


Jeremy Greenwood (November 1983), "Expectations, the Exchange Rate, and the Current Account," Journal of Monetary Economics, v. 12, n. 4: 543-569.

Paper


David Aschauer and Jeremy Greenwood (October 1983), "A Further Exploration in the Theory of Exchange Rate Regimes," Journal of Political Economy, v. 91, n. 5: 868-875.

Paper


Jeremy Greenwood (1982), Essays in International Finance, Ph.D. Thesis, University of Rochester.

Thesis


 

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