• Cheap Talk in a New Keynesian Model 

    Wesselbaum, Dennis
    This paper shows that the stance of fiscal policy does have significant impact on the conduct of monetary policy in the United States. Further, we document that the implied fiscal-monetary policy interactions are subject ...
  • Delays in Public Goods 

    Chatterjee, Santanu; Posch, Olaf; Wesselbaum, Dennis
    In this paper, we analyze the consequences of delays and cost overruns typically associated with the provision of public infrastructure in the context of a growing economy. Our results indicate that uncertainty about the ...
  • Did the FED React to Asset Price Bubbles? 

    Luik, Marc-Andre; Wesselbaum, Dennis
    This paper investigates whether the U. S. Federal Reserve responds to asset price bubbles or not. We estimate a DSGE model featuring a financial accelerator and a process for asset price bubbles. We find evidence for a ...
  • Does Pollution Affect Crime? Evidence from U.S. Cities 

    Baryshnikova, Nadezhda V.; Davidson, Shannon F.; Wesselbaum, Dennis
    In this paper we study the relationship between air pollution and crime. We construct a city-level, hourly data set with 2.4 million crimes and link each crime to data on pollution and controls, e.g. weather variables. ...
  • Gone with the Wind: International Migration 

    Aburn, Amelia; Wesselbaum, Dennis
    This paper adds to the literature on the determinants of international migration. First, we offer a joint analysis of the driving forces of migration capturing year-to-year variations and long-run effects. Second, we ...
  • Jobless Recoveries: The Interaction between Financial and Search Frictions 

    Wesselbaum, Dennis
    This paper establishes a link between labor market frictions and financial market frictions. We present empirical evidence about the relation between search and financial frictions. Then, we build a stylized DSGE model ...