Eric Sims
Biographic Data
| ID | 8880125 |
|---|---|
| NAME | Eric Sims |
| GIVEN NAMES | Eric |
| FAMILY NAME | Sims |
| SIGNATURE | SIMS E |
| AFFILIATIONS | University of Notre Dame and NBER |
| VERIFIED | No |
| TOTAL WORKS | 7 |
| TOTAL CITATIONS | 0 |
| WORKS AS AUTHOR | 7 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2012 |
| LATEST PUBLICATION YEAR | 2024 |
| H-INDEX | 0 |
Problem-Based Teaching
As engineering educators attempt to develop solutions to increase student retention and graduation rates and decrease student departures from their majors during the first two years of study, findings from a summer bridge program at a large minority-serving institution (MSI) show promise for practices that could potentially help to mitigate these issues. Summer bridge strategies have been shown to be effective in assisting in college students’ tr…
Tracking Weekly State-Level Economic Conditions
This paper develops a novel dataset of weekly economic conditions indices for the 50 U.S. states going back to 1987 based on mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions of state economies. We find considerable cross-state heterogeneity in the length, depth, and timing of business cycles. We illustrate the usefulness of these state-level indices for quantifying the main contrib…
The Four-Equation New Keynesian Model
This paper develops a New Keynesian model featuring financial intermediation, short- and long-term bonds, credit shocks, and scope for unconventional monetary policy. The log-linearized model reduces to four equations: Phillips and IS curves, as well as policy rules for the short-term interest rate and the central bank's long-bond portfolio (QE). Credit shocks and QE appear in both the IS and Phillips curves. In equilibrium, optimal monetary poli…
Revisions in Utilization-Adjusted TFP and Robust Identification of News Shocks
This paper documents large revisions in a widely used series of utilization-adjusted total factor productivity (TFP) by Fernald (2014) and shows that these revisions can materially affect empirical results about the effects of news shocks. We trace these revisions to changes in estimated factor utilization that are evocative of cyclical measurement issues with productivity. We propose an alternative identification that is robust to these measurem…
Are Supply Shocks Contractionary at the ZLB? Evidence from Utilization-Adjusted TFP Data
The basic New Keynesian model predicts that positive supply shocks are less expansionary at the zero lower bound (ZLB) compared to periods of active monetary policy. We test this prediction empirically using Fernald's (2014) utilization-adjusted total factor productivity series, which we take as a measure of exogenous productivity. In contrast to the predictions of the model, positive productivity shocks are estimated to be more expansionary at t…
Uncertainty and Economic Activity
This paper uses survey expectations data to construct empirical proxies for time-varying business-level uncertainty. Access to the micro data from the German IFO Business Climate Survey permits construction of uncertainty measures based on both ex ante disagreement and ex post forecast errors. Ex ante disagreement is strongly correlated with dispersion in ex post forecast errors. Surprise movements in either measure lead to significant reductions…
Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence
Innovations to consumer confidence convey incremental information about economic activity far into the future. Does this reflect a causal effect of animal spirits on economic activity, or news about exogenous future productivity received by consumers? Using indirect inference, we study the impulse responses to confidence innovations in conjunction with an appropriately augmented New Keynesian model. While news, animal spirits, and pure noise all …
No prominent works on this page.
Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence
Innovations to consumer confidence convey incremental information about economic activity far into the future. Does this reflect a causal effect of animal spirits on economic activity, or news about exogenous future productivity received by consumers? Using indirect inference, we study the impulse responses to confidence innovations in conjunction with an appropriately augmented New Keynesian model. While news, animal spirits, and pure noise all …
Uncertainty and Economic Activity
This paper uses survey expectations data to construct empirical proxies for time-varying business-level uncertainty. Access to the micro data from the German IFO Business Climate Survey permits construction of uncertainty measures based on both ex ante disagreement and ex post forecast errors. Ex ante disagreement is strongly correlated with dispersion in ex post forecast errors. Surprise movements in either measure lead to significant reductions…
Are Supply Shocks Contractionary at the ZLB? Evidence from Utilization-Adjusted TFP Data
The basic New Keynesian model predicts that positive supply shocks are less expansionary at the zero lower bound (ZLB) compared to periods of active monetary policy. We test this prediction empirically using Fernald's (2014) utilization-adjusted total factor productivity series, which we take as a measure of exogenous productivity. In contrast to the predictions of the model, positive productivity shocks are estimated to be more expansionary at t…
Revisions in Utilization-Adjusted TFP and Robust Identification of News Shocks
This paper documents large revisions in a widely used series of utilization-adjusted total factor productivity (TFP) by Fernald (2014) and shows that these revisions can materially affect empirical results about the effects of news shocks. We trace these revisions to changes in estimated factor utilization that are evocative of cyclical measurement issues with productivity. We propose an alternative identification that is robust to these measurem…
The Four-Equation New Keynesian Model
This paper develops a New Keynesian model featuring financial intermediation, short- and long-term bonds, credit shocks, and scope for unconventional monetary policy. The log-linearized model reduces to four equations: Phillips and IS curves, as well as policy rules for the short-term interest rate and the central bank's long-bond portfolio (QE). Credit shocks and QE appear in both the IS and Phillips curves. In equilibrium, optimal monetary poli…
Problem-Based Teaching
As engineering educators attempt to develop solutions to increase student retention and graduation rates and decrease student departures from their majors during the first two years of study, findings from a summer bridge program at a large minority-serving institution (MSI) show promise for practices that could potentially help to mitigate these issues. Summer bridge strategies have been shown to be effective in assisting in college students’ tr…
Tracking Weekly State-Level Economic Conditions
This paper develops a novel dataset of weekly economic conditions indices for the 50 U.S. states going back to 1987 based on mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions of state economies. We find considerable cross-state heterogeneity in the length, depth, and timing of business cycles. We illustrate the usefulness of these state-level indices for quantifying the main contrib…
Econometrics (6 works) · Economics (6 works) · Macroeconomics (6 works) · Monetary Policy and Economic Impact (6 works) · Market Dynamics and Volatility (5 works) · Computer Science (3 works) · Monetary economics (3 works) · New Keynesian economics (3 works) · Productivity (3 works) · Business cycle (2 works)