WorldCat Identities

Rotemberg, Julio

Works: 174 works in 653 publications in 1 language and 6,690 library holdings
Genres: Conference papers and proceedings 
Roles: Author, Editor, Other
Classifications: HB1, 330
Publication Timeline
Most widely held works by Julio Rotemberg
Is the business cycle a necessary consequence of stochastic growth? by Julio Rotemberg( Book )

13 editions published in 1994 in English and held by 64 WorldCat member libraries worldwide

We compute the forecastable changes in output, consumption, and hours implied by a VAR that includes the growth rate of private value added, the share of output that is consumed, and the detrended level of private hours. We show that the size of the forecastable changes in output greatly exceeds that predicted by a standard stochastic growth model, of the kind studied by real business cycle theorists. Contrary to the model's implications, forecastable movements in labor productivity are small and only weakly related to forecasted changes in output. Also, forecasted movements in investment and hours are positively correlated with forecasted movements in output. Finally, and again in contrast to what the growth model implies, forecasted output movements are positively related to the current level of the consumption share and negatively related to the level of hours. We also show that these contrasts between the model and the observations are robust to allowance for measurement error and a variety of other types of transitory disturbances
The excess co-movement of commodity prices by Robert S Pindyck( Book )

13 editions published between 1987 and 1996 in English and No Linguistic content and held by 60 WorldCat member libraries worldwide

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Interest-rate rules in an estimated sticky price model by Julio Rotemberg( Book )

6 editions published in 1998 in English and held by 52 WorldCat member libraries worldwide

This paper evaluates alternative rules by which the Fed may set interest rates using the small model of the U.S. economy estimated in Rotemberg and Woodford (1997). Our main substantive finding is that low and stable inflation together with stable interest rates can be achieved by letting the funds rate respond positively to inflation while also responding, with a coefficient bigger than one, to the lagged funds rate itself. A rule in which the interest rate is set in this extremely simple way does almost as well as a more complicated rule which is optimal in our setting, in the sense of maximizing expected utility to the representative household. Furthermore, when the funds rate responds to inflation only with a delay, due to delay in the availability of inflation data, performance under the rule is only slightly reduced
Cyclical markups : theories and evidence by Julio Rotemberg( Book )

11 editions published between 1990 and 2015 in English and held by 43 WorldCat member libraries worldwide

If changes in aggregate demand were an important source of macroeconomic fluctuations, real wages would be countercyclical unless markups of price over marginal cost were themselves countercyclical. We thus examine three theories of markup variation at cyclical frequencies. The first assumes only that the elasticity of demand is a function of the level of output. In the second, firma face a tradeoff between exploiting their existing customers and attracting new customers. Markups then depend also on rates of return and future sales expectations; a high rate of return or expectations of low sales growth lead firms to assign a lower value to future revenues from new customers. Firma thus raise prices and markups. In the third theory, markups are chosen to ensure that no one deviates from an (implicitly) collusive understanding. Increases in rates of return or pessimistic expectations then lead firms to be less concerned with future punishments so that markups fall. Aggregate post-war data from the U.S. are moat consistent with the predictions of the implicit collusion model
NBER macroeconomics annual 1999 by Ben Bernanke( Book )

6 editions published in 2000 in English and Undetermined and held by 16 WorldCat member libraries worldwide

NBER macroeconomics annual 1998 by Ben Bernanke( Book )

8 editions published between 1998 and 1999 in English and Undetermined and held by 13 WorldCat member libraries worldwide

Audience Level
Audience Level
  Kids General Special  
Audience level: 0.63 (from 0.01 for NBER macro ... to 0.72 for Is the bus ...)

NBER macroeconomics annual 1999
Alternative Names
Julio Rotemberg American economist

Julio Rotemberg economista estadounidense

Rotemberg, J.

Rotemberg, J. 1953-

Rotemberg, J. J. 1953-

Rotemberg, J. (Julio)

Rotemberg, Julio J.

Rotemberg, Julio J. 1953-

Rotemberg, Julio Jacobo 1953-

English (54)

NBER macroeconomics annual 1998