Journal Article
The automatic fiscal stabilizers: quietly doing their thing
Follette, Glenn; Cohen, Darrel (2000-04)
Economic Policy Review , Issue Apr , Pages 35-67

Working Paper
A comparison of fiscal measures using reduced-form techniques
Cohen, Darrel (1989)
Working Paper Series / Economic Activity Section , Paper 100

Discussion Paper
The effects of fiscal policy on the U.S. economy
Clark, Peter B.; Cohen, Darrel (1984)
Staff Studies , Paper 136

Working Paper
Models and measures of fiscal policy
Cohen, Darrel (1987)
Working Paper Series / Economic Activity Section , Paper 70

Working Paper
Inflation, taxes, and the durability of capital
Cohen, Darrel; Hassett, Kevin A. (1997)
Auerbach (1979, 1981) has demonstrated that inflation can lead to large inter-asset distortions, with the negative effects of higher inflation unambiguously declining with asset life. We show that this is true only if depreciation is treated as geometric for tax purposes. When depreciation is straightline, higher inflation can have the opposite effect, discouraging investment in long-lived assets. Since our current system can be thought of as a mixture of straightline and geometric, the sign of the inter-asset distortion is indeterminate. We show that under current U.S. tax rules, the ...
Finance and Economics Discussion Series , Paper 1997-53

Working Paper
Fiscal rules and monetary policy
Lebow, David E.; Cohen, Darrel (1994)
Working Paper Series / Economic Activity Section , Paper 148

Working Paper
The automatic fiscal stabilizers: quietly doing their thing
Follette, Glenn; Cohen, Darrel (1999)
This paper presents theoretical and empirical analysis of automatic fiscal stabilizers, such as the income tax and unemployment insurance benefits. Using the modern theory of consumption behavior, we identify several channels--insurance effects, wealth effects and liquidity constraints- -through which the optimal reaction of household consumption plans to aggregate income shocks is tempered by the automatic fiscal stabilizers. In addition we identify a cash flow channel for investment. The empirical importance of automatic stabilizers is addressed in several ways. We estimate elasticities of ...
Finance and Economics Discussion Series , Paper 1999-64

Working Paper
Linear data transformations used in economics
Cohen, Darrel (2001)
The paper examines the properties of standard data transformations--such as growth rates and moving averages--used by applied economists. Because many resources are devoted to understanding the economic significance of incoming data by government and financial-market economists, for example, this paper considers data filters that do not drop recent observations, in contrast to the approximately "ideal" measures recently developed in the literature. Using frequency-domain techniques, it is established that moving averages of multi-period growth rates can attenuate the bias and phase shifts ...
Finance and Economics Discussion Series , Paper 2001-59

Working Paper
A note on the sustainability of fiscal policy
Cohen, Darrel (1994)
Working Paper Series / Economic Activity Section , Paper 151

Working Paper
A critical analysis of the Eisner-Pieper fiscal measure
Cohen, Darrel (1991)
Working Paper Series / Economic Activity Section , Paper 117