Johannes F Wieland
Biographic Data
| ID | 5732841 |
|---|---|
| NAME | Johannes F Wieland |
| GIVEN NAMES | Johannes F |
| FAMILY NAME | Wieland |
| SIGNATURE | WIELAND J F |
| AFFILIATIONS | Federal Reserve Bank of San Francisco & National Bureau of Economic Research (NBER) University of California, San Diego |
| VERIFIED | No |
| TOTAL WORKS | 3 |
| TOTAL CITATIONS | 0 |
| AUTHOR COUNT | 3 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2018 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 0 |
Using Macro Counterfactuals to Assess Plausibility: An Illustration using the 2001 Rebate MPCs
Macroeconomics has increasingly adopted tools from the applied micro ‘credibility revolution’ to estimate micro parameters that can inform macro questions. In this paper, we argue that researchers should take advantage of this confluence of micro and macro to take the credibility revolution one step further. We argue that researchers should assess the plausibility of the micro estimates and macro models by constructing macro counterfactuals for h…
Farm Product Prices, Redistribution, and the Early U.S. Great Depression
We argue that falling farm product prices, incomes, and spending may explain 10–30 percent of the 1930 U.S. output decline. Crop prices collapsed, reducing farmers’ incomes. And across U.S. states and Ohio counties, auto sales fell most in crop-growing areas. The large spending response may be explained by farmers’ indebtedness. Reasonable assumptions about the marginal propensity to spend of farmers relative to nonfarmers and the pass-through of…
Are Negative Supply Shocks Expansionary at the Zero Lower Bound
The standard new Keynesian model predicts that economies behave differently at the zero lower bound: completely wasteful government spending or forward guidance is very stimulative, and capital destruction or oil supply shocks are expansionary. I provide empirical evidence on this prediction and find it wanting: The Great East Japan Earthquake and oil supply shocks are contractionary at the zero lower bound. Modifications of the model that are co…
No prominent works on this page.
Are Negative Supply Shocks Expansionary at the Zero Lower Bound
The standard new Keynesian model predicts that economies behave differently at the zero lower bound: completely wasteful government spending or forward guidance is very stimulative, and capital destruction or oil supply shocks are expansionary. I provide empirical evidence on this prediction and find it wanting: The Great East Japan Earthquake and oil supply shocks are contractionary at the zero lower bound. Modifications of the model that are co…
Farm Product Prices, Redistribution, and the Early U.S. Great Depression
We argue that falling farm product prices, incomes, and spending may explain 10–30 percent of the 1930 U.S. output decline. Crop prices collapsed, reducing farmers’ incomes. And across U.S. states and Ohio counties, auto sales fell most in crop-growing areas. The large spending response may be explained by farmers’ indebtedness. Reasonable assumptions about the marginal propensity to spend of farmers relative to nonfarmers and the pass-through of…
Using Macro Counterfactuals to Assess Plausibility: An Illustration using the 2001 Rebate MPCs
Macroeconomics has increasingly adopted tools from the applied micro ‘credibility revolution’ to estimate micro parameters that can inform macro questions. In this paper, we argue that researchers should take advantage of this confluence of micro and macro to take the credibility revolution one step further. We argue that researchers should assess the plausibility of the micro estimates and macro models by constructing macro counterfactuals for h…
Economics (3 works) · Macroeconomics (2 works) · Monetary economics (2 works) · Monetary Policy and Economic Impact (2 works) · Agricultural economics (1 works) · Agriculture (1 works) · Capital (architecture (1 works) · Capital flows (1 works) · Computer Science (1 works) · Counterfactual conditional (1 works)