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Modern business cycle theory
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Modern business cycle theory (1989)Modern business cycle theoryTax-spending policies and economic growth: Theoretical predictions and evidence from the OECD (2006)Tax-spending policies and eco…Global and National Macroeconometric Modelling (2006)Global and National Macroecon…Does Financial Development Cause Economic Growth? 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(1994)Financial development and eco…Caveat emptor: Cross-country data on education and the labor force (1994)Caveat emptor: Cross-country …Capital fundamentalism, economic development, and economic growth (1994)Capital fundamentalism, econo…On the cyclical allocation of risk (1993)On the cyclical allocation of…How much do distortions affect growth? (1993)How much do distortions affec…Growth in open economies (1992)Growth in open economiesA Contribution to the Theory of Economic Growth (1956)Co-Integration and Error Correction: Representation, Estimation, and Testing (1987)On the mechanics of economic development (1988)Have Air Pollutant Emissions Converged Among U.S. Regions? Evidence from Unit Root Tests (1999)Unequal Economic Development in China: Spatial Disparities and Regional Policy Reconsideration, 1985-1995 (2000)Is there a ‘California effect’ in US environmental policymaking? (2002)Specification Tests in Econometrics (1978)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Econometric Analysis of Cross Section and Panel Data (2001)The Long-Run Economic Costs of aids: A Model with an Application to South Africa (2006)Adult Mortality and Consumption Growth in the Age of HIV/AIDS (2007)The impact of HIV/AIDS on foreign direct investment: Evidence from Sub-Saharan Africa (2015)The Theory of Economic Development (2003)Capital accumulation and growth: a new look at the empirical evidence (2010)Future growth patterns of world regions – A GDP scenario approach (2015)The Facts of Economic Growth (2016)Increasing Returns and Long-Run Growth (1986)Start up costs, limited enforcement, and the hidden economy (2006)Financial Development and Poverty Reduction Can there Be a Benefit without a Cost? (2008)Determinants of Economic Growth: A Bayesian Panel Data Approach (2010)Technical Change and the Aggregate Production Function (1957)The Solution of Linear Difference Models under Rational Expectations (1980)The equity premium: A puzzle (1985)On International and National Dimensions of Risk Sharing (1999)International Business Cycles with Endogenous Incomplete Markets (2000)International portfolios, capital accumulation and foreign assets dynamics (2009)Government Spending in a Simple Model of Endogeneous Growth (1990)A SENSITIVITY ANALYSIS OF CROSS-COUNTRY GROWTH REGRESSIONS (1991)International data on educational attainment: updates and implications (2001)Does public sector efficiency matter? Revisiting the relation between fiscal size and economic growth in a world sample (2008)Do elections affect the composition of fiscal policy in developed, established democracies? (2010)The Timing and Persistence of Fiscal Policy Impacts on Growth: Evidence from OECD Countries (2011)Rules Rather than Discretion: The Inconsistency of Optimal Plans (1977)The Science of Monetary Policy: A New Keynesian Perspective (1999)INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY (2005)Fiscal policy under loose commitment (2009)Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates (2013)The State of New Keynesian Economics: A Partial Assessment (2018)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Heterogeneous expectations and tests of efficiency in the yen/dollar forward exchange rate market (1999)Yield Curve Predictors of Foreign Exchange Returns (2010)Global Asset Pricing (2011)Time to Build and Aggregate Fluctuations (1982)Real Business Cycles (1983)The Computational Experiment: An Econometric Tool (1996)Corporate earnings and the equity premium (2004)The cross-section of labor leverage and equity returns (2018)Financial development and economic growth: literature survey and empirical evidence from sub-Saharan African countries (2011)The Coevolution of Technologies and Categories During Industry Emergence (2014)Natural resources rents-financial development nexus: Evidence from sixteen developing countries (2020)
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  • 1993How much do distortions affect growth?270 cited
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  • 2006Tax-spending policies and economic growth: Theoretical predictions and evidence from the OECD198 cited
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  • 1996Incomplete asset markets and the cross-country consumption correlation puzzle178 cited
  • 2006An investigation of the gains from commitment in monetary policy151 cited
  • 2006Does Financial Development Cause Economic Growth? A Panel Data Dynamic Analysis for the Asian Developing Countries151 cited
  • 1993On the cyclical allocation of risk142 cited
  • 1996Testing neoclassical convergence in regional incomes and earnings134 cited
  • 1992Growth in open economies133 cited
  • 1995Money and wage contracts in an optimizing model of the business cycle131 cited
  • 1994Financial development and economic growth in Singapore: demand-following or supply-leading?121 cited
  • 1994Caveat emptor: Cross-country data on education and the labor force120 cited

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  • 1996CONVERGENCE AND THE U.S. STATES: A TIME‐SERIES ANALYSIS*115 cited
  • 2006Global and National Macroeconometric Modelling102 cited