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Working Paper
Recessions and recoveries in real business cycle models: do real business cycle models generate cyclical behavior?
Wynne, Mark A.; Balke, Nathan S. (1993)
Working Papers , Paper 9322

Working Paper
The Heterogeneous Effects of Global and National Business Cycles on Employment in U.S. States and Metropolitan Areas
Koech, Janet; Wynne, Mark A.; Chudik, Alexander (2018-08-22)
The growth of globalization in recent decades has increased the importance of external factors as drivers of the business cycle in many countries. Globalization affects countries not just at the macro level but at the level of states and metro areas as well. This paper isolates the relative importance of global, national and region-specific shocks as drivers of the business cycle in individual U.S. states and metro areas. We document significant heterogeneity in the sensitivity of states and metro areas to global shocks, and show that direct trade linkages are not the only channel through ...
Globalization Institute Working Papers , Paper 343

Working Paper
Costly intermediation and the big push
Wynne, Mark A.; Becsi, Zsolt; Wang, Ping (1998)
Many existing theories of financial intermediation have difficulty explaining why financial activity can generate large real effects. This paper argues that the large real effects may reflect a multiplicity of equilibria. The multiple equilibria in this paper are generated by the dynamic interactions between the savings decisions of workers and the monopolistically competitive behavior of banks. We characterize the equilibria by showing the comparative-static responses of key aggregates to changes in the pure rate of time preference, investment uncertainty, and bank costs. We find that the ...
FRB Atlanta Working Paper , Paper 98-16

Global Perspectives: Ruth J. Simmons on Trailblazing and Education
Wynne, Mark A. (2019-09-17)
Simmons and Dallas Fed President Rob Kaplan discussed her decision to become an educator, her experience in academia and the importance of educational opportunity.
Dallas Fed Economics

Working Paper
Inequality, inflation, and central bank independence
Wynne, Mark A.; Dolmas, Jim; Huffman, Gregory W. (1997)
What can account for the different contemporaneous inflation experiences of various countries, and of the same country over time? We present an analysis of the determination of inflation from a political economy perspective. We document a positive correlation between income inequality and inflation and then present a theory of the determination of inflation outcomes in democratic societies that illustrates how greater inequality leads to greater inflation, owing to a desire by voters for wealth redistribution. We conclude by showing that democracies with more independent central banks tend to ...
Working Papers , Paper 9705

Working Paper
Endogenous market structures and financial development
Wynne, Mark A.; Becsi, Zsolt; Wang, Ping (1998)
Existing theories that emphasize the significance of financial intermediation for economic development have not addressed two important empirical facts: (i) the relationship between financial and real activities depends crucially on the stage of development, and (ii) financial and industrial market structures vary widely across otherwise similar countries. To explain these observations, we develop a dynamic general equilibrium model allowing for endogenous market structures in which financial deepening spurs real activity through intermediate product broadening. We show the possibility of ...
FRB Atlanta Working Paper , Paper 98-15

Global Perspectives: Glenn Hubbard on Immigration, Economic Dynamism and Limits of Monetary Policy
Wynne, Mark A. (2019-10-29)
Hubbard and Dallas Fed President Rob Kaplan discussed his experiences working in the George W. Bush administration and immigration's impact on the workforce.
Dallas Fed Economics

Global Perspectives: Marvin E. Odum on the COVID-19 Fight, Energy Outlook
Wynne, Mark A. (2020-08-25)
Odum and Dallas Fed President Robert S. Kaplan participated in a moderated conversation with Krys Boyd of KERA and discussed the ongoing pandemic and how best to contain it.
Dallas Fed Economics

Global Perspectives: Donald Kohn on Greenspan and Bernanke, the Global Financial Crisis and the COVID-19 Challenge
Wynne, Mark A. (2020-06-02)
Kohn and Dallas Fed President Rob Kaplan discussed Kohn’s career at the Fed, his experience during the Global Financial Crisis and his thoughts on the Fed’s reaction to the current crisis.
Dallas Fed Economics

Journal Article
The comparative growth performance of the U.S. economy in the postwar period
Wynne, Mark A. (1992-01)
Productivity growth is the single most important determinant of improvements in a country's living standards over time. Accordingly, the U.S. productivity slowdown of the past two decades has caused great concern and sparked much debate. ; In this article, Mark A. Wynne argues that the problems associated with the U.S. slowdown may be overstated. Wynne shows that the rates of productivity growth experienced in the immediate postwar period were extraordinary in comparison with historical standards. Thus, some slowdown was probably unavoidable. U.S. productivity performance in comparison with ...
Economic and Financial Policy Review , Issue Q I , Pages 1-16

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