John Driscoll's Page. Working Papers

Working Papers

Current Working Papers (in PDF format):

On the Microfoundations of Aggregate Demand and Aggregate Supply
Disequilibrium and New Keynesian Economics
(with Claudia Buch and Charlotte Ostergaard) Cross-Border Diversification of Bank Asset Portfolios
(with Sumit Agarwal and Souphala Chomsisengphet) Loan Commitments and Private Firms
(with Sumit Agarwal, Xavier Gabaix and David Laibson) The Age of Reason: Financial Decisions Over the Lifecycle
(with Steinar Holden)Coordination, Fair Treatment and Inflation Persistence
Right-click to download GAUSS , TSP or RATS source code for the procedure to compute spatial-correlation consistent standard errors for linear panel data models from my paper with Aart Kraay, "Consistent Covariance Matrix Estimation in Spatially Dependent Panel Data", REStat November 1998. (RATS source code created and kindly provided by Steve Green, Baylor University).

Recent Publications :

Fairness and Inflation Persistence (2004). Journal of the European Economic Assocation, 2(2/3), pp. 240-252.

Does Bank Lending Affect Output? Evidence From the U.S. States (2004). Journal of Monetary Economics, 51(3), pp. 451-471.

(with Steinar Holden)Inflation Persistence and Relative Contracting (2003). American Economic Review , 93(4), pp. 1369-1372.

(with Harumi Ito) Sticky Prices, Coordination and Enforcement(2003), Topics in Macroeconomics 3(1),Article 10

Lecture notes:

Lecture Notes in Macroeconomics:

Lecture notes for one semester of a first-year graduate course in macroeconomics. Free for anyone's use. Comments on the manuscript sent to the following e-mail address would be very welcome: John_Driscoll@alum.mit.edu.