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Chatterjee, Satyajit

Overview
Works: 55 works in 151 publications in 1 language and 368 library holdings
Genres: History 
Roles: Author
Classifications: HG2613.P54, 338.523
Publication Timeline
Key
Publications about Satyajit Chatterjee
Publications by Satyajit Chatterjee
Most widely held works by Satyajit Chatterjee
Spin-offs and the market for ideas by Satyajit Chatterjee( Book )
11 editions published between 2007 and 2008 in English and held by 24 libraries worldwide
"We propose a theory of firm dynamics in which workers have ideas for new projects that can be sold in a market to existing firms or implemented in new firms: spin-offs. Workers have private information about the quality of their ideas. Because of an adverse selection problem, workers can sell their ideas to existing firms only at a price that is not contingent on their information. We show that the option to spin off in the future is valuable so only workers with very good ideas decide to spin off and set up a new firm. Since entrepreneurs of existing firms pay a price for the ideas sold in the market that implies zero expected profits for them, firms' project selection is independent of their size, which, under some assumptions, leads to scale-independent growth. The entry and growth process of firms in this economy leads to an invariant distribution that resembles the one in the US economy."--Abstract
A quantitative theory of unsecured consumer credit with risk of default by Satyajit Chatterjee( Book )
8 editions published between 2002 and 2007 in English and held by 19 libraries worldwide
The authors study, theoretically and quantitatively, the general equilibrium of an economy in which households smooth consumption by means of both a riskless asset and unsecured loans with the option to default. The default option resembles a bankruptcy filing under Chapter 7 of the U.S. Bankruptcy Code. Competitive financial intermediaries offer a menu of loan sizes and interest rates wherein each loan makes zero profits. They prove the existence of a steady state equilibrium and characterize the circumstances under which a household defaults on its loans. They show that their model accounts for the main statistics regarding bankruptcy and unsecured credit while matching key macroeconomic aggregates and the earnings and wealth distributions. They use this model to address the implications of a recent policy change that introduces a form of means-testing for households contemplating a Chapter 7 bankruptcy filing. They find that this policy change yields large welfare gains
On the welfare gains of reducing the likelihood of economic crises by Satyajit Chatterjee( Book )
7 editions published in 2000 in English and held by 17 libraries worldwide
Knowledge spillovers and the new economy of cities by Gerald A Carlino( Book )
5 editions published in 2001 in English and held by 16 libraries worldwide
Despite much theorizing about the role of geographic concentration of employment in enhancing knowledge spillovers, local densities' role in promoting innovations has been largely unexamined. This paper considers the role of knowledge spillovers on innovations at the MSA level. The authors use patents per capita in an MSA as their measure of innovations in that MSA. They find that the rate of patenting is positively related to the employment density of the highly urbanized portion of an MSA (its urbanized area). Specifically, the authors find, on average, that rate of patenting is 20 percent to 30 percent greater in an MSA with a local economy that is twice as dense as the local economy of another MSA. Since local employment density doubles more than four times in the sample, the implied gains in patents per capita due to urban density are substantial. Thus, these findings confirm the widely held view that the nation's densest locations play an important role in creating the flow of ideas that generates innovation and growth
Valuation equilibria with transactions costs by Satyajit Chatterjee( Book )
4 editions published in 1995 in English and held by 15 libraries worldwide
Employment deconcentration : a new perspective on America's postwar urban evolution by Gerald A Carlino( Book )
6 editions published between 2001 and 2006 in English and held by 15 libraries worldwide
In this study the authors show that during the postwar era, the United States experienced a decline in the share of urban employment accounted for by the relatively dense metropolitan areas and a corresponding rise in the share of relatively less dense ones. This trend, which the authors call employment deconcentration, is distinct from the other well-known regional trend, namely, the postwar movement of jobs and people from the frostbelt to the sunbelt. The authors also show that deconcentration has been accompanied by a similar trend within metropolitan areas, wherein employment share of the denser sections of MSAs has declined and that of the less dense sections risen. The authors provide a general equilibrium model with density-driven congestion costs to suggest an explanation for employment deconcentration.--FRB Philadelphia web site
A neoclassical model of seasonal fluctuations by Satyajit Chatterjee( Book )
3 editions published in 1991 in English and Undetermined and held by 14 libraries worldwide
Money and finance in a model of costly commitment by Satyajit Chatterjee( Book )
5 editions published in 1994 in English and held by 14 libraries worldwide
Aggregate employment growth and the deconcentration of metropolitan employment by Satyajit Chatterjee( Book )
4 editions published in 1998 in English and held by 14 libraries worldwide
The Federal Reserve Bank of Philadelphia presents the full text of the February 1999 working paper entitled "Aggregate Employment Growth and the Deconcentration of Metropolitan Employment," written by Satyajit Chatterjee and Gerald Carlino. The text is available in PDF format. This paper investigates the disparity in employment densities across U.S. metropolitan areas with the use of a system-of-cities model
Strategic complementarity in business formation : aggregate fluctuations and sunspot equilibria by Satyajit Chatterjee( Book )
3 editions published in 1993 in English and held by 14 libraries worldwide
On the optimality of eliminating seasonality in nominal interest rates by Satyajit Chatterjee( Book )
5 editions published in 1997 in English and held by 13 libraries worldwide
The Federal Reserve Bank of Philadelphia presents the full text of the April 1997 working paper entitled "On the Optimality of Eliminating Seasonality in Nominal Interest Rates," written by Satyajit Chatterjee. The text is available in PDF format. This paper develops an analytical model of the effects of seasonal smoothing of nominal interest rates on the seasonal amplitude of other closely related variables
Minimum consumption requirements : theoretical and quantitative implications for growth and distribution by Satyajit Chatterjee( Book )
6 editions published in 1997 in English and held by 13 libraries worldwide
The Federal Reserve Bank of Philadelphia presents the full text of the October 1997 working paper entitled "Minimum Consumption Requirements: Theoretical and Quantitative Implications for Growth and Distribution," written by Satyajit Chatterjee and B. Ravikumar. The text is available in PDF format. This paper examines the impact of a minimum consumption requirement on the rate of economic growth and the evolution of wealth distribution
Postwar trends in metropolitan employment growth : decentralization and deconcentration by Gerald A Carlino( Book )
5 editions published in 1999 in English and held by 13 libraries worldwide
The Federal Reserve Bank of Philadelphia presents the full text of the August 1999 working paper entitled "Postwar Trends in Metropolitan Employment Growth: Decentralization and Deconcentration," written by Gerald Carlino and Stayajit Chatterjee. The text is available in PDF format. The authors find that postwar growth in employment has favored metropolitan areas with smaller levels of employment density
A welfare comparison of pre- and post-WWII business cycles : some implications for the role of postwar macroeconomic policies by Satyajit Chatterjee( Book )
4 editions published in 1999 in English and held by 12 libraries worldwide
The Federal Reserve Bank of Philadelphia presents the full text of the March 1999 working paper entitled "A Welfare Comparison of Pre-and Post-WWII Business Cycles: Some Implications for the Role of Postwar Macroeconomic Policies," written by Satyajit Chatterjee and Dean Corbae. The text is available in PDF format. This paper computes the potential economic benefits that would accrue to a typical pre-WWII era U.S. worker from the post-WWII macroeconomic policy regime
On the evolution of the spatial distribution of employment in postwar United States by Satyajit Chatterjee( Book )
4 editions published in 1997 in English and held by 12 libraries worldwide
In this paper, the authors document a pronounced trend toward deconcentration of metropolitan employment during the postwar period in the United States. The employment share of initially more dense metro areas declined and those of initially less dense metro areas rose. Motivated by this finding, the authors develop a system-of-cities model in which increase in aggregate metropolitan employment causes employment to shift in favor of less dense metro areas because congestion costs increase more rapidly for the initially more dense metro areas. A calibrated version of the model shows that the more-than-twofold increase in employment experienced by MSAs during the postwar period was indeed a powerful force favoring deconcentration
Competitive theories for economies with general transactions technology by Satyajit Chatterjee( Book )
4 editions published in 1999 in English and held by 12 libraries worldwide
The Federal Reserve Bank of Philadelphia presents the full text of the November 1999 working paper entitled "Competitive Theories for Economies with General Transactions Technology," written by Satyajit Chatterjee and Dean Corbae. The text is available in PDF format. This paper describes and compares two approaches to analyzing transactions costs in a general equilibrium setting. The authors find that the valuation equilibrium approach provides a framework for quantitative studies of the effects of transactions costs on economy-wide resource allocation
Maturity, indebtedness, and default risk by Satyajit Chatterjee( Book )
8 editions published between 2009 and 2011 in English and held by 7 libraries worldwide
We present a novel and tractable model of long-term sovereign debt. We make two sets of contributions. First, on the substantive side, using Argentina as a test case we show that unlike one-period debt models, our model of long-term sovereign debt is capable of accounting for the average spread, the average default frequency, and the average debt-to-output ratio of Argentina over the 1991-2001period without any deterioration in the model's ability to account for Argentina's cyclical facts. Using our calibrated model we determine what Argentina's debt, default frequency and welfare would have been if Argentina had issued only short-term debt. Second, on the methodological side, we advance the theory of sovereign debt begun in Eaton and Gersovitz (1981) by establishing the existence of an equilibrium pricing function for long-term sovereign debt and by providing a fairly complete set of characterization results regarding equilibrium default and borrowing behavior. In addition, we identify and solve a computational problem associated with pricing long-term unsecured debt that stems from nonconvexities introduced by the possibility of default
Entry and exit, product variety and the business cycle by Satyajit Chatterjee( Book )
1 edition published in 1993 in English and held by 5 libraries worldwide
We study the stochastic behavior of a dynamic general equilibrium model with monopolistic competition. Each seller sells his product in the consumption goods as well as the investment goods market and has market power in both. Consumers derive utility from a CES aggregate of all the consumption goods and augment their capital stock by a CES aggregate of all the investment goods. We analyze the equilibrium of this economy allowing for an endogenous determination of the number of firms and therefore of products. The principal effect we highlight is the endogenous propagation and magnification of technology and preference disturbances through product space variations
On the welfare gains of eliminating a small likelihood of economic crises : a case for stabilization policies? by Satyajit Chatterjee( Book )
2 editions published in 2003 in English and held by 5 libraries worldwide
Quantitative models of sovereign debt crises by Mark Aguiar( Book )
3 editions published in 2016 in English and held by 1 library worldwide
This chapter is on quantitative models of sovereign debt crises in emerging economies. We interpret debt crises broadly to cover all of the major problems a country can experience while trying to issue new debt, including default, sharp increases in the spread and failed auctions. We examine the spreads on sovereign debt of 20 emerging market economies since 1993 and document the extent to which fluctuations in spreads are driven by country-specific fundamentals, common latent factors and observed global factors. Our findings motivate quantitative models of debt and default with the following features: (i) trend stationary or stochastic growth, (ii) risk averse competitive lenders, (iii) a strategic repayment/borrowing decision, (iv) multi-period debt, (v) a default penalty that includes both a reputation loss and a physical output loss and (vi) rollover defaults. For the quantitative evaluation of the model, we focus on Mexico and carefully discuss the successes and weaknesses of various versions of the model. We close with some thoughts on useful directions for future research
 
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Alternative Names
Chatterjee, S.
Languages
English (97)
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