WorldCat Identities

Trehan, Bharat

Works: 7 works in 14 publications in 1 language and 48 library holdings
Roles: Author
Classifications: HB1.A2,
Publication Timeline
Most widely held works by Bharat Trehan
The Implications of an Endogenous Money Supply for Monetary Neutrality by Robert G King( )
3 editions published in 1983 in English and held by 21 WorldCat member libraries worldwide
This paper examines the implications of an endogenous money supply for the perceived(by econometricians) and actual nonneutrality of money in rational expectations models of the class put forward by Lucas (1972, 1973) and Barro(1976, 1980) that stress incomplete information. First, if there is contemporaneous policy response (e.g., to interest rates), then a simultaneous equations bias produces inconsistency in tests that use contemporaneous monetary statistics such as those proposed by King (1981) and Boschen-Grossman (1983). Thus, an econometrician might erroneously conclude that money is nonneutral ina fully classical model. Second, if money acts as a 'signal' about economic conditions then autonomous (policy induced) changes in the money stock can have real effects. In contrast to the nonneutrality of money in the Lucas-Barro analysis, which arises due to incomplete information about monetary aggregates, this nonneutrality requires that monetary information be utilized by economic agents
Testing intertemporal budget constraints : theory and applications to U.S. federal budget and current account deficits by Bharat Trehan( Book )
3 editions published in 1988 in English and held by 9 WorldCat member libraries worldwide
Common trends, the government's budget constraint, and revenue smoothing by Bharat Trehan( Book )
3 editions published in 1987 in English and held by 8 WorldCat member libraries worldwide
Seigniorage and tax smoothing in the United States : 1914-1986 by Carl E Walsh( Book )
2 editions published in 1988 in English and held by 6 WorldCat member libraries worldwide
Time varying equilibrium real rates and monetary policy analysis by Bharat Trehan( )
1 edition published in 2004 in English and held by 2 WorldCat member libraries worldwide
Productivity shocks in a model with vintage capital and heterogeneous labor by Milton H Marquis( )
1 edition published in 2007 in English and held by 1 WorldCat member library worldwide
We construct a vintage capital model in which worker skills lie along a continuum and workers can be paired with different vintages (as technology evolves) under a matching rule of "best worker with the best machine". Labor reallocation in response to technology shocks has two key implications for the wage premium. First, it limits both the magnitude and duration of change in the wage premium following a (permanent) embodied technology shock, so empirically plausible shocks do not lead to the kind of increases in the wage premium observed in the U.S. during the 1980s and early 1990s (though an increase in labor force heterogeneity does). Second, positive disembodied technology shocks tend to push up the wage premium as well, and while this effect is small, it does mean that a higher premium does not provide unambiguous information about the underlying shock. Labor reallocation also means that if embodied technology comes to play a larger role in long-run growth, investment and savings tend to fall in steady state, with little effect on output and employment, enabling the household to increase consumption without sacrificing leisure. The short run effects are more conventional: permanent shocks to disembodied technology induce a strong wealth effect that reduces savings and induces a consumption boom while permanent shocks to embodied technology induce dominant substitution effects and an expansion characterized by an investment boom
On using relative prices to measure capital-specific technological progress by Milton H Marquis( )
1 edition published in 2005 in English and held by 1 WorldCat member library worldwide
Audience Level
Audience Level
  Kids General Special  
Audience level: 0.93 (from 0.87 for Common tre ... to 1.00 for Time varyi ...)
English (14)