WorldCat Identities

Hansen, Gary D. (Gary Duane)

Works: 67 works in 150 publications in 1 language and 723 library holdings
Genres: History 
Roles: Author, Other, Editor, Honoree
Classifications: HB1, 330
Publication Timeline
Most widely held works by Gary D Hansen
Malthus to Solow by Gary D Hansen( Book )

15 editions published between 1998 and 1999 in English and held by 127 WorldCat member libraries worldwide

A unified growth theory is developed that accounts for the roughly constant living standards displayed by world economies prior to 1800 as well as the growing living standards exhibited by modern industrial economies. Our theory also explains the industrial revolution, which is the transition from an era when per capita incomes are stagnant to one with sustained growth. This transition is inevitable given positive rates of total factor productivity growth. We use a standard growth model with one good and two available technologies. The first, denoted the capital as inputs. The second, denoted the does not require land. We show that in the early stages of development, only the Malthus technology is used and, due to population growth, living standards are stagnant despite technological progress. Eventually, technological progress causes the Solow technology to become profitable and both technologies are employed. At this point, living standards improve since population growth has less influence on per capita income growth. In the limit, the economy behaves like a standard Solow growth model
Why have business cycle fluctuations become less volatile? by Andrés F Arias( )

11 editions published in 2006 in English and held by 86 WorldCat member libraries worldwide

This paper shows that a standard Real Business Cycle model driven by productivity shocks can successfully account for the 50 percent decline in cyclical volatility of output and its components, and labor input that has occurred since 1983. The model is successful because the volatility of productivity shocks has also declined significantly over the same time period. We then investigate whether the decline in the volatility of the Solow Residual is due to changes in the volatility of some other shock operating through a channel that is absent in the standard model. We therefore develop a model with variable capacity and labor utilization. We investigate whether government spending shocks, shocks that affect the household's first order condition for labor, and shocks that affect the household's first order condition for saving can plausibly account for the change in TFP volatility and in the volatility of output, its components, and labor. We find that none of these shocks are able to do this. This suggests that successfully accounting for the post-1983 decline in business cycle volatility requires a change in the volatility of a productivity-like shock operating within a standard growth model
Consumption over the life cycle : the role of annuities by Gary D Hansen( )

11 editions published in 2006 in English and held by 81 WorldCat member libraries worldwide

"We explore the quantitative implications of uncertainty about the length of life and a lack of annuity markets for life cycle consumption in a general equilibrium overlapping generations model in which markets are otherwise complete. Empirical studies find that consumption tends to rise early in life, peak around age 45-55, and to decline after that. Our calibrated model exhibits life cycle consumption that is consistent with this pattern. This follows from the fact that, due to a lack of annuity markets, households discount the future more heavily as they age and their probability of survival falls. Once an unfunded social security system is introduced, the profile is still hump shaped, but the decline in consumption does not begin until after retirement in our base case. Adding a bequest motive causes this decline to begin at a younger age"--National Bureau of Economic Research web site
Business cycle fluctuations and the life cycle : how important is on-the-job skill accumulation? by Gary D Hansen( )

10 editions published in 2007 in English and held by 77 WorldCat member libraries worldwide

We study the effects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over the life cycle in a calibrated general equilibrium model. Two forms of skill accumulation are considered: learning by doing and on-the-job training. In our economy with learning by doing, individuals supply more labor early in the life cycle and less as they approach retirement than they do in an economy without this feature. The impact of this feature on the volatility of hours over the life cycle depends on the value of the intertemporal elasticity of labor supply. When individuals accumulate skills by on-the-job training, there are only weak effects on both the steady-state labor supply and its volatility over the life cycle
Health insurance reform : the impact of a Medicare buy-in by Gary D Hansen( )

7 editions published in 2012 in English and held by 68 WorldCat member libraries worldwide

Abstract: The steady state general equilibrium and welfare consequences of health insurance reform are evaluated in a calibrated life-cycle economy with incomplete markets and endogenous labor supply. Individuals face uncertainty each period about their future health status, medical expenditures, labor productivity, access to employer provided group health insurance, and the length of their life. In this environment, incomplete markets and adverse selection, which restricts the type of insurance contracts available in equilibrium, creates a potential role for health insurance reform. In particular, we consider a policy reform that would allow older workers (aged 55-64) to purchase insurance similar to Medicare coverage. We find that adverse selection eliminates any market for a Medicare buy-in if it is offered as an unsubsidized option to individual private health insurance. Hence, we compare the equilibrium properties of the current insurance system with those that obtain with an optional buy-in subsidized by the government, as well as with several types of health insurance mandates
Fiscal reform and government debt in Japan : a neoclassical perspective by Gary D Hansen( )

5 editions published in 2013 in English and held by 62 WorldCat member libraries worldwide

Past government spending in Japan is currently imposing a significant fiscal burden that is reflected in a net debt to output ratio near 150 percent. In addition, the aging of Japanese society implies that public expenditures and transfers payments relative to output are projected to continue to rise until at least 2050. In this paper we use a standard growth model to measure the size of this burden in the form of additional taxes required to finance these projected expenditures and to stabilize government debt. The fiscal adjustment needed is very large, in the range of 30-40% of total consumption expenditures. Using a distorting tax such as the consumption tax or the labor income tax requires either tax to rise to unprecedented highs, although the former is much less distorting than the latter. The extremely high tax rates we find highlight the importance of considering alternatives that attenuate the projected increases in public spending and/or enlarge the tax base
Neoclassical models in macroeconomics by Gary D Hansen( )

6 editions published in 2016 in English and held by 48 WorldCat member libraries worldwide

This chapter develops a toolkit of neoclassical macroeconomic models, and applies these models to the U.S. economy from 1929 through 2014. We first filter macroeconomic time series into business cycle and long-run components, and show that the long-run component is typically much larger than the business cycle component. We argue that this empirical feature is naturally addressed within neoclassical models with long-run changes in technologies and government policies. We construct two classes of models that we compare to raw data, and also to the filtered data: simple neoclassical models, which feature standard preferences and technologies, rational expectations, and a unique, Pareto-optimal equilibrium, and extended neoclassical models, which build in government policies and market imperfections. We focus on models with multiple sources of technological change, and models with distortions arising from regulatory, labor, and fiscal policies. The models account for much of the relatively stable postwar U.S. economy, and also for the Great Depression and World War II. The models presented in this chapter can be extended and applied more broadly to other settings. We close by identifying several avenues for future research in neoclassical macroeconomics
Aging in the upper midwest : a profile of 6300 senior citizens by Gary D Hansen( )

2 editions published in 1962 in English and held by 26 WorldCat member libraries worldwide

Malthus to Solow by Gary D Hansen( Book )

7 editions published in 1999 in English and held by 20 WorldCat member libraries worldwide

Nursing home and extended care administration; a certificate program; curriculum by Oscar Kurren( Book )

2 editions published in 1969 in English and held by 14 WorldCat member libraries worldwide

Recursive methods for computing equilibria of business cycle models by Gary D Hansen( Book )

3 editions published in 1991 in English and held by 9 WorldCat member libraries worldwide

Tax distortions in a neoclassical monetary economy by Thomas F Cooley( Book )

2 editions published in 1991 in English and held by 8 WorldCat member libraries worldwide

Minnesota farmers and social security by Marvin J Taves( Book )

1 edition published in 1963 in English and held by 7 WorldCat member libraries worldwide

Decade for action in gerontology and geriatric care by Gary D Hansen( Book )

1 edition published in 1966 in English and held by 6 WorldCat member libraries worldwide

Home managerial tasks, perceived competence, and related social, psychological, and economic consequences for retired couples by Gary D Hansen( )

3 editions published between 1969 and 1971 in English and held by 4 WorldCat member libraries worldwide

This study was designed to identify and describe home management tasks, perceived managerial competency, and related social, psychological, and economic consequences for a sample of retired couples. Managerial tasks were defined as essential, periodic activities which (1) sustain the living patterns of a person or family in a common household, and (2) adaptive responses to problems and opportunities produced by changing human or material resources, environmental situations, or health conditions. Management tasks were studied in eight functional areas: food, clothing, secondary living space, household maintenance, marital and family relations, financial resources, social-community relations, and health. Managerial tasks were also classified into four types on the basis of complexity, content, social units involved, and management processes required. The classification included routine managerial, complex managerial, transactional, and interpersonal tasks. Managerial competence was defined as the ability to identify, obtain, and utilize human and material resources to accomplish tasks and achieve goals. Twenty-five items were prepared to measure perceived managerial competence. Items were prepared on the following components of management: underlying factors; collecting and analyzing information; planning and decision making; assessing human resources and interpersonal skills; implementing and coordinating; and evaluating, adapting, and redirecting. The 102 urban couples interviewed had lived an average of 70 years, had completed high school, had an annual median income of $5,200 a year, and a median net worth of $36,400. Nine out of ten lived in their own homes. The husbands had been retired an average of five years. Home managerial and related activities were important to eight of ten men and women after retirement since the potential loss of these activities was viewed very negatively. Women did significantly more of the managerial tasks in the areas of food, clothing, house cleaning, and marital-family relations. (Significance statements refer to the .05 level). Men did more of the tasks in secondary living areas and in finances. Husbands and wives shared equally in the managerial tasks of health maintenance and social-community relations. Retirement of husbands from their major occupations resulted in significantly greater involvement in 17 of the 63 managerial tasks studied, and a complementary decrease by their wives. However, the basic pattern in the distribution of tasks before and after retirement was one of stability. There was a relatively equal sharing of tasks between husbands and wives and a similar assumption of leadership in household and family affairs, 54 percent of the tasks and leadership being attributed to wives. Ninety-five percent of the respondents said they had reached a workable division of responsibilities and sharing of activities. The post retirement patterns required fewer than six months to establish and were considered to be stable and satisfactory by nine of ten respondents. Husbands and wives did not increase their involvement in tasks related to maintaining the marital relationship, nor did wives increase interpersonal activities to help their husbands adjust to retirement. One of ten wives reported her husband's retirement as a major adjustment problem. Increased involvement of men in home managerial tasks was associated negatively with ratings on quality of task performance. There were no significant differences between men and women on their managerial competence scores. Respondents who perceived themselves as competent home managers reinforced this judgment with high ratings on the performance of tasks in the eight functional areas. Those with the highest managerial competence scores had made the most extensive preparations for retirement. Other social, psychological, and economic factors positively related to perceived managerial competence included self image, satisfaction, income, and net worth. Fifteen couples were also interviewed from a rural village for comparison with the urban sample
Dynamic effects of monetary policy a conference sponsored by the Federal Reserve Bank of Cleveland, November 6 - 8, 1996( Book )

1 edition published in 1997 in English and held by 4 WorldCat member libraries worldwide

Unanticipated money by Thomas F Cooley( Book )

3 editions published in 1997 in English and held by 4 WorldCat member libraries worldwide

Chronic illness, disability, and aging in Morrison County, Minnesota by Gary D Hansen( Book )

2 editions published in 1962 in English and held by 4 WorldCat member libraries worldwide

As senior citizens see themselves : a survey of aging in the Upper Midwest by Marvin J Taves( Book )

1 edition published in 1968 in English and held by 3 WorldCat member libraries worldwide

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Alternative Names
Duane Hansen, Gary

Gary Hansen American macroeconomist

Gary Hansen amerikanischer Makroökonom

Gary Hansen econoom

Hansen, G. D.

Hansen, Gary Duane

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English (94)