WorldCat Identities

Romer, David

Overview
Works: 115 works in 783 publications in 6 languages and 12,671 library holdings
Genres: Conference papers and proceedings  Fiction  History  Periodicals 
Roles: Author, Editor, Other, htt, Contributor
Classifications: HB172.5, 339
Publication Timeline
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Most widely held works by David Romer
Brookings Papers on Economic Activity Spring 2011 by Justin Wolfers( )

23 editions published between 2009 and 2014 in English and Undetermined and held by 2,075 WorldCat member libraries worldwide

Annotation
Reducing inflation : motivation and strategy by Christina Romer( )

21 editions published between 1997 and 2007 in English and Undetermined and held by 1,980 WorldCat member libraries worldwide

In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss strategies for reducing inflation. The authors investigate both day-to-day issues in the conduct of monetary policy and fundamental reforms of monetary institutions. Using a wide range of data and analytical techniques, these papers seek to answer important questions about the wisdom and methods of reducing inflation. Section I explores inflation's effects and costs. Essays in this section investigate the reasons that inflation causes so much unhappiness to ordinary people, the potentially large benefits of reducing inflation to zero through its impact on the tax system, and inflation's effects on the efficiency of the labor market and the equilibrium unemployment rate
Advanced macroeconomics by David Romer( Book )

136 editions published between 1996 and 2019 in 7 languages and held by 1,932 WorldCat member libraries worldwide

This text helps lay the groundwork for students to begin doing research in macroeconomics and monetary economics. A series of formal models are used to present and analyse important macroeconomic theories. The theories are supplemented by examples of relevant empirical work, which illustrate the ways that theories can be applied and tested
In the wake of the crisis : leading economists reassess economic policy by Joseph Eugene Stiglitz( )

8 editions published between 2012 and 2014 in English and held by 776 WorldCat member libraries worldwide

Annotation
What have we learned? : macroeconomic policy after the crisis by George A Akerlof( )

6 editions published between 2014 and 2016 in English and held by 753 WorldCat member libraries worldwide

Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to rethink basic theory. George Akerlof, Nobel Laureate and one of this volume's editors, compares the crisis to a cat stuck in a tree, afraid to move. In April 2013, the International Monetary Fund brought together leading economists and economic policymakers to discuss the slowly emerging contours of the macroeconomic future. This book offers their combined insights. The contributors consider the lessons learned from the crisis and its aftermath. They discuss, among other things, post-crisis questions about the traditional policy focus on inflation; macroprudential tools (which focus on the stability of the entire financial system rather than of individual firms) and their effectiveness; fiscal stimulus, public debt, and fiscal consolidation; and exchange rate arrangements
New Keynesian economics by N. Gregory Mankiw( Book )

22 editions published between 1991 and 1998 in English and Undetermined and held by 554 WorldCat member libraries worldwide

Brookings papers on economic activity by David Romer( )

5 editions published between 2009 and 2011 in English and held by 503 WorldCat member libraries worldwide

Tentative contents includeThe Age of Reason: Financial Decisions over the Life Cycle and Implications for RegulationSumit Agarwal (Federal Reserve Bank Of Chicago), Xavier Gabaix (New York University), and David Laibson (Harvard University)Heeding Daedalus: Optimal Inflation and the Zero Lower BoundJohn C. Williams (Federal Reserve Bank of San Francisco) By How Much Does GDP Rise If the Government Buys More Output?Robert E. Hall (Stanford University)Interpreting the Unconventional U.S. Monetary Policy of 2007-09Ricardo Reis (Columbia University)When the North Heads South: The World in CrisisCa
Brookings Papers on Economic Activity Fall 2011( )

6 editions published between 2011 and 2014 in English and held by 322 WorldCat member libraries worldwide

The equilibrium and optimal timing of price changes by Laurence M Ball( )

17 editions published between 1987 and 1989 in English and held by 149 WorldCat member libraries worldwide

This paper was an accidental re-issue of <a href="http://www.nber.org/papers/w2412">w2412</a>
Trade and growth in East Asian countries : cause and effect? by Jeffrey A Frankel( )

21 editions published between 1995 and 1996 in English and held by 143 WorldCat member libraries worldwide

Estimates of growth equations have found a role for openness, particularly in explaining rapid growth among East Asian countries. But major concerns of simultaneous causality between growth and trade have been expressed. This study aims to deal with the endogeneity of trade by using as instrumental variables the exogenous determinants from the gravity model of bilateral trade, such as proximity to trading partners. We find that the effect of openness on growth is even stronger when we correct for the endogeneity of openness than in standard OLS estimates. We conclude with estimates of how much has been contributed to East Asian growth both by the exogenous or geographical component of openness and by the residual or policy component
Monetary policy and the well-being of the poor by Christina Romer( )

13 editions published in 1998 in English and held by 140 WorldCat member libraries worldwide

This paper investigates monetary policy's influence on poverty and inequality in both the short run and the long run. We find that the short-run and long-run relationships go in opposite directions. The time-series evidence from the United States shows that a cyclical boom created by expansionary monetary policy is associated with improved conditions for the poor in the short run. The cross-section evidence from a large sample of countries, however, shows that low inflation and stable aggregate demand growth are associated with improved well-being of the poor in the long run. Both the short-run and long-run relationships are quantitatively large, statistically significant, and robust. But because the cyclical effects of monetary policy are inherently temporary, we conclude that monetary policy that aims at low inflation and stable aggregate demand is the most likely to permanently improve conditions for the poor
Misconceptions and political outcomes by David Romer( )

13 editions published in 1997 in English and held by 129 WorldCat member libraries worldwide

A large recent literature shows that strategic interactions among actors with conflicting objectives can produce inefficient political decisions. This paper investigates an alternative explanation of such decisions: if individuals' errors in assessing the likely effects of proposed policies are correlated, democratic decision-making can produce inefficient outcomes even in the absence of distributional conflicts or heterogeneous preferences. Choosing candidates from among the best informed members of the population does not remedy the problems created by such errors, but subsidizing information and exposing representatives to information after their election do. Concentration of power has ambiguous effects. Finally, the presence of correlated errors tends to create multiple equilibria in political institutions
Trade and growth : an empirical investigation by Jeffrey A Frankel( )

16 editions published in 1996 in English and held by 124 WorldCat member libraries worldwide

Countries' geographic characteristics have important effects on their trade, and are plausibly uncorrelated with other determinants of their incomes. This paper therefore constructs measures of the geographic component of countries' trade and uses those measures to obtain instrumental variables estimates of the effect of trade on income. The results suggest that ordinary least squares estimates understate the effects of trade, and that trade has a quantitatively large, significant, and robust positive effect on income
Institutions for monetary stability by Christina Romer( )

12 editions published between 1996 and 1997 in English and held by 122 WorldCat member libraries worldwide

This paper demonstrates that failures in monetary policy arise not just from dynamic inconsistency, but more importantly, from imperfect understanding of the economy and the effects of policy. Using recent and historic episodes from the United States and abroad, we show that limited knowledge on the part of economists, policymakers, elected leaders, and voters has been an important source of monetary policy mistakes. We then analyze what institutions of monetary policy could address the problems of both dynamic inconsistency and limited knowledge. Our analysis suggests that one set of institutions that could do this is a highly independent central bank with discretion about both the goals and the conduct of policy, combined with a two-level structure where elected leaders appoint a board of trustees for the central bank, which in turn selects the actual policymakers. We conclude by discussing recent and proposed reforms in monetary policy and institutions in industrialized countries in light of this analysis
Federal Reserve private information and the behavior of interest rates by Christina Romer( )

12 editions published in 1996 in English and held by 121 WorldCat member libraries worldwide

Many authors argue that asymmetric information between the Federal Reserve and the public is important to the conduct and the effects of monetary policy. This paper tests for the existence of such asymmetric information by examining Federal Reserve and commercial inflation forecasts. We demonstrate that the Federal Reserve has considerable information about inflation beyond what is known to commercial forecasters. We also provide evidence that monetary policy actions provide signals of the Federal Reserve's private information and that commercial forecasters modify their forecasts in response to those signals. These findings may explain why long-term interest rates typically rise in response to shifts to tighter monetary policy
What ends recessions? by Christina Romer( )

14 editions published in 1994 in English and held by 120 WorldCat member libraries worldwide

This paper analyzes the contributions of monetary and fiscal policy to postwar economic recoveries. We find that the Federal Reserve typically responds to downturns with prompt and large reductions in interest rates. Discretionary fiscal policy, in contrast, rarely reacts before the trough in economic activity, and even then the responses are usually small. Simulations using multipliers from both simple regressions and a large macroeconomic model show that the interest rate falls account for nearly all of the above-average growth that occurs early in recoveries. Our estimates also indicate that on several occasions expansionary policies have contributed substantially to above-normal growth outside of recoveries. Finally, the results suggest that the persistence of aggregate output movements is largely the result of the extreme persistence of the contribution of policy changes
Keynesian macroeconomics without the LM curve by David Romer( )

14 editions published in 2000 in English and held by 117 WorldCat member libraries worldwide

Changes in both the macroeconomy and in macroeconomics suggest that the IS-LM-AS model is no longer the best baseline model of short-run fluctuations for teaching and policy analysis. This paper presents an alternative model that replaces the assumption that the central bank targets the money supply with an assumption that it follows a simple interest rate rule. The resulting model is simpler, more realistic, and more coherent than IS-LM-AS, not just in its treatment of monetary policy but in many other ways. The paper also discusses other alternatives to IS-LM-AS
It's fourth down and what does the Bellman equation say? : a dynamic-programming analysis of football strategy by David Romer( )

13 editions published in 2002 in English and held by 114 WorldCat member libraries worldwide

This paper uses play-by-play accounts of virtually all regular season National Football League games for 1998-2000 to analyze teams' choices on fourth down between trying for a first down and kicking. Dynamic programming is used to estimate the values of possessing the ball at different points on the field. These estimates are combined with data on the results of kicks and conventional plays to estimate the average payoffs to kicking and going for it under different circumstances. Examination of teams' actual decisions shows systematic, overwhelmingly statistically significant, and quantitatively large departures from the decisions the dynamic-programming analysis implies are preferable
The evolution of economic understanding and postwar stabilization policy by Christina Romer( )

11 editions published in 2002 in English and held by 114 WorldCat member libraries worldwide

There have been large changes in the conduct of aggregate demand policy in the United States over the past fifty years. This paper shows that these changes in policy have resulted largely from changes in policymakers' beliefs about the functioning of the economy and the effects of policy. We document the changes in beliefs using contemporaneous discussions of the economy and policy by monetary and fiscal policymakers and, for the period since the late 1960s, using the Federal Reserve's internal forecasts. We find that policymakers' understanding of the economy has not exhibited steady improvement. Instead, the evidence reveals an evolution from a fairly crude but basically sound worldview in the 1950s, to a more sophisticated but deeply flawed model in the 1960s, to uncertainty and fluctuating beliefs in the 1970s, and finally to the modern worldview of the 1980s and 1990s. We establish a link between policymakers' beliefs and aggregate demand policy by examining narrative evidence on the motivation for key policy choices. We also compare monetary policymakers' choices with the implications of a modern estimated policy rule and show that the main differences are consistent with the changes in beliefs that we observe
Inflation and the informativeness of prices by Laurence M Ball( )

13 editions published in 1993 in English and held by 106 WorldCat member libraries worldwide

This paper studies the welfare effects of the relative price variability arising from inflation. When agents interact in anonymous markets, with customers buying from new suppliers each period, relative price variability benefits customers and cannot harm suppliers substantially. But if customers and suppliers form long-term relationships, prices have an informational role: a potential customer uses current prices as signals of future prices. Inflation reduces the informativeness of current prices, causing customers to make costly mistakes about which relationships to enter. In addition, the reduced informativeness of prices makes demand less price-elastic, thereby increasing markups. Both effects can be quantitatively significant at moderate inflation rates
 
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WorldCat IdentitiesRelated Identities
Brookings Papers on Economic Activity Spring 2011 Brookings papers on economic activity
Covers
Reducing inflation : motivation and strategyAdvanced macroeconomicsNew Keynesian economicsBrookings papers on economic activityBrookings Papers on Economic Activity Fall 2011
Alternative Names
David Romer Amerikaans econoom

David Romer economista estadounidense

David Romer economista estatunidenc

David Romer économiste américain

David Romer ekonomist amerikan

David Romer US-amerikanischer Ökonom, Professor für Politische Ökonomie an der University of California, Berkeley

Hibbins Romer, David 1958-

Romer, D. 1958-

Romer, D. H.

Romer, D. H. 1958-

Romer, David H.

Romer, David H. 1958-

Romer, David Hibbard 1958-

Romer, David Hibbins 1958-

Дејвид Ромер

Дэвид Ромер

ديفيد رومر

ديفيد رومر عالم اقتصاد أمريكي

로머, 데이빗 1958-

デビッド・ローマー

ローマー, デビッド

戴维·罗默

戴维·罗默 美国经济学家

Languages