Patrick J. Kehoe

V. V. Chari · Patrick J. Kehoe · Ellen R. McGrattan

Chari, Kehoe, and McGrattan subject the popular structural-VAR (SVAR) procedure -- used by Gali (1999), Francis and Ramey (2005), and others to argue that technology shocks make hours fall, and …

V. V Chari · Patrick J. Kehoe · Ellen R. McGrattan

Chari, Kehoe, and McGrattan build a calibrated two-country sticky-price model with price-discriminating, staggered-price monopolists and find it can generate exchange-rate volatility and persistence …

David K. Backus · Patrick J. Kehoe

Backus and Kehoe assemble at least a century of annual national-accounts data for ten countries (Australia, Canada, Denmark, Germany, Italy, Japan, Norway, Sweden, the United Kingdom, and the United …

David K. Backus · Patrick J. Kehoe · Finn E. Kydland

Backus, Kehoe, and Kydland build a two-country extension of Kydland and Prescott's (1982) closed-economy real-business-cycle model -- with complete international asset markets, country-specific …

Fernando Alvarez · Andrew Atkeson · Patrick J. Kehoe

Alvarez, Atkeson, and Kehoe build a cash-in-advance model in which households face a fixed real cost to transfer funds between a goods market and an asset market, so that in any period only a fraction …

V. V. Chari · Patrick J. Kehoe · Ellen R. McGrattan

This 2009 American Economic Journal: Macroeconomics paper by V. V.

V. V. Chari · Patrick J. Kehoe · Ellen R. McGrattan

Staggered price-setting was long hoped to turn a short spell of exogenous price stickiness into a long spell of endogenous stickiness, and so into persistent output movements after a monetary shock. …