Remarks for the Urban Land Institute at the Emerging Trends in Real Estate Conference, Atlanta, Georgia, November 10, 2009

Remarks at the Rotary Club of Nashville, Nashville, Tennessee, July 20, 2009

Remarks at the World Affairs Council of Jacksonville, Jacksonville, Florida, September 10, 2009

Remarks at the Georgia Bankers Association's Annual Convention, Atlanta, Georgia, June 15, 2009

Remarks at the Chattanooga Area Chamber of Commerce, Chattanooga, Tennessee, August 26, 2009

The share of employment in manufacturing as well as the relative price of manufactures has declined sharply over the postwar period, while the share of manufacturing output relative to GDP has remained roughly constant. Household preferences turn out to play a key role in reconciling this...

Estimated monetary policy rules often appear to indicate a sluggish partial adjustment of the policy interest rate by the central bank. In fact, such evidence does not appear to be persuasive, since the illusion of monetary policy inertia may reflect spuriously omitted persistent influences on...

This paper examines an agent's choice of forecast method within a standard asset pricing model. To make a conditional forecast, a representative agent may choose one of the following: (1) a rational (or fundamentals-based) forecast that employs knowledge of the stochastic process governing...

This paper advocates a new way of thinking about goods trade in an open economy macro model. It develops a simple method for analyzing trade costs that are heterogeneous among a continuum of goods, and it explores how these costs determine the endogenous decision by a seller of whether to trade...

A simple intellectual property rights (IPRs) framework is introduced into a dynamic quality ladder model of technological diffusion between innovating firms in one country and imitating firms in another country. The presence of technological spillovers and feedback effects between firms in the...