Cross-Sectional Phenomena and New Perspectives on Macro-Finance Puzzles
In order to distinguish essays and pre-prints from academic theses, we have a separate category. These are often much longer text based documents than a paper.
Traditional models of the business cycle rely on the assumption that the economy is populated by agents who have similar characteristics such as taste, income, or productivity. Despite offering simple and elegant macroeconomic models, this assumption masks the rich interplay between cross-sectional and aggregate cyclical movements.