Stephen Terry
Biographic Data
| ID | 5806003 |
|---|---|
| NAME | Stephen Terry |
| GIVEN NAMES | Stephen |
| FAMILY NAME | Terry |
| SIGNATURE | TERRY S |
| AFFILIATIONS | Boston University |
| ORCID | 0000-0002-7692-2074 |
| VERIFIED | Yes |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 0 |
| AUTHOR COUNT | 5 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2014 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 0 |
Location, Location, Location
Exploiting data on tens of millions of housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions, (2) this pattern is especially present for the lowest-value homes and that (3) price declines coincided with worse labour market outcomes, consistent with an income channel. Counterfactual accounting exercises reveal that regional differences in the growth of these lowest-value homes are an important driver of…
Trapped Factors and China’s Impact on Global Growth
After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalise these patterns using ‘trapped factors’ at the micro level within a stylised equilibrium model of product-cycle trade and growth. Trade integration of the magnitude observed between the OECD and low-wage nations as a whole can considerably increase the long-run growth rate and welfare. In the short run exposed firms devote trapped…
Covid-Induced Economic Uncertainty
Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators -stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business expectation surveys -that provide real-time forward-looking uncertainty measures. We use these indicators to document and quantify the enormous increase in economic…
Really Uncertain Business Cycles
We investigate the role of uncertainty in business cycles. First, we demonstrate that microeconomic uncertainty rises sharply during recessions, including during the Great Recession of 2007–2009. Second, we show that uncertainty shocks can generate drops in gross domestic product of around 2.5% in a dynamic stochastic general equilibrium model with heterogeneous firms. However, we also find that uncertainty shocks need to be supplemented by first…
Trapped Factors and China's Impact on Global Growth
After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalise these patterns using ‘trapped factors’ at the micro level within a stylised equilibrium model of product-cycle trade and growth. Trade integration of the magnitude observed between the OECD and low-wage nations as a whole can considerably increase the long-run growth rate and welfare. In the short run exposed firms devote trapped…
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Trapped Factors and China's Impact on Global Growth
After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalise these patterns using ‘trapped factors’ at the micro level within a stylised equilibrium model of product-cycle trade and growth. Trade integration of the magnitude observed between the OECD and low-wage nations as a whole can considerably increase the long-run growth rate and welfare. In the short run exposed firms devote trapped…
Really Uncertain Business Cycles
We investigate the role of uncertainty in business cycles. First, we demonstrate that microeconomic uncertainty rises sharply during recessions, including during the Great Recession of 2007–2009. Second, we show that uncertainty shocks can generate drops in gross domestic product of around 2.5% in a dynamic stochastic general equilibrium model with heterogeneous firms. However, we also find that uncertainty shocks need to be supplemented by first…
Covid-Induced Economic Uncertainty
Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators -stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business expectation surveys -that provide real-time forward-looking uncertainty measures. We use these indicators to document and quantify the enormous increase in economic…
Trapped Factors and China’s Impact on Global Growth
After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalise these patterns using ‘trapped factors’ at the micro level within a stylised equilibrium model of product-cycle trade and growth. Trade integration of the magnitude observed between the OECD and low-wage nations as a whole can considerably increase the long-run growth rate and welfare. In the short run exposed firms devote trapped…
Location, Location, Location
Exploiting data on tens of millions of housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions, (2) this pattern is especially present for the lowest-value homes and that (3) price declines coincided with worse labour market outcomes, consistent with an income channel. Counterfactual accounting exercises reveal that regional differences in the growth of these lowest-value homes are an important driver of…
Economics (5 works) · Monetary economics (3 works) · Business cycle (2 works) · China (2 works) · Economic Growth and Productivity (2 works) · Fiscal Policy and Economic Growth (2 works) · Global trade and economics (2 works) · International economics (2 works) · International trade (2 works) · Labour economics (2 works)