Simon Gilchrist

Department of Economics, Boston University


Recent Working Papers:



        ``Investment and the Cost of Capital: New Evidence from the Corporate Bond Market''
        (with  Egon Zakrajsek), May 2007.

        ``Investment during the Korean Financial Crisis: A Structural Econometric Approach''
        (with Jae W. Sim), May 2007.

        ``Irreversibility and Investment Dynamics for Chilean Manufacturing Plants: A Maximum Likelihood Approach''  
        (with Olga Fuentes and Marc Rysman), July 2006.

        ``Skill-Biased Technology Adoption: Evidence for the Chilean Manufacturing Sector"
        (with Olga Fuentes), December, 2005.

        "Transition Dynamics in Vintage Capital Models: Explaining the Post-war Experience of German and Japan"
        (with John Williams), July, 2004.

 


Published Papers:


  1. ``External Constraints on Monetary Policy and the Financial Accelerator'' (with Mark Gertler and Fabio Natalucci), Journal of Money, Credit, and Banking, Forthcoming.
  2. ``Expectations, Asset Prices and Monetary Policy: The Role of Learning'' (with Masashi Saito), Asset Prices and Monetary Policy, edited by John Campbell, University of Chicago, forthcoming.
  3. "Do Stock Price Bubbles Influence Corporate Investment?" (with Charles Himmelberg and Gur Huberman), Journal of Monetary Economics, May 2005.
  4. "Investment, Capacity and Uncertainty: A Putty-Clay Approach" (with John Williams), Review of Economic Dynamics Vol 8, January 2005.
  5. "Trade Liberalization and Labor Market Evolution" (with Olga Fuentes), Series on Central Banking, Analysis and Economic Policies, Vol VIII: Labor Markets and Institutions", Edited by Luis Antonio Ahumada and J. Rodrigo Fuentes, Central Bank of Chile, 2005.
  6. "Financial Markets and Financial Leverage in a Two-Country World Economy", Series on Central Banking, Analysis and Economic Policies, Vol VII: Banking Market Structure and Monetary Policy", Edited by Luis Antonio Ahumada and J. Rodrigo Fuentes, Central Bank of Chile, 2004.
  7. "Monetary Policy and Asset Prices" (with John Leahy), Journal of Monetary Economics, January 2002.
  8. "Putty-Clay and Investment: A Business Cycle Analysis" (with John Williams), Journal of Political Economy, Oct. 2000.
  9. "The Financial Accelerator in a Quantitative Business Cycle Framework" (with Ben Bernanke and Mark Gertler), in John Taylor and Michael Woodford (eds.), the Handbook and Macroeconomics, Amsterdam: North Holland, 1999.
  10. "Investment, Fundamentals and Finance" (with Charles Himmelberg), in Ben Bernanke and Julio Rotermberg (eds.), The NBER Macroeconomics Annual, 1998.
  11. "The Financial Accelerator and Flight to Quality" (with Ben Bernanke and Mark Gertler), Review of Economics and Statistics, Feb 1996.
  12. "The Role of Cash Flow in Reduced-Form Investment Equations" (with Charles Himmelberg), Journal of Monetary Economics, Vol. 36, December 1995. 
  13. "The Importance of Credit for Macroeconomic Activity: Identification Through Heterogeneity" (with Egon Zakrajsek), in Is Bank Lending Important for Transmission of Monetary Policy?, Federal Reserve Bank of Boston Conference Series No 39, June 1995.
  14. "Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms" (with Mark Gertler), Quarterly journal of Economics, Vol. CIX, May 1994.
  15. "The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Argument and Evidence" (with Mark Gertler), Scandinavian Journal of Economics, Vol. 95, 1993, 43-64.  Reprinted in Financial Aspects in the Transition from Stabilization to Growth, Editors: Zvi Eckstein, Zvi Hercovitz, and Leo Leiderman, Cambridge University Press, 1995.
  16. "The Cyclical Behavior of Short Term Business Lending: Implication for Financial Propagation Mechanisms" (with Mark Gertler), European Economic Review: Papers and Proceedings, April 1993.

Comments:

    A comment on ``Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration''
by Bennett McCallum and Marvin Goodfriend (forthcoming in Carnegie Rochester Series on Public Policy).



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