Details about Pierre Daniel Sarte

Homepage:	http://www.rich.frb.org/research/economists/Pierre-Daniel_Sarte.cfm
Phone:	(804) 697-8210
Postal address:	Research Dept. Federal Reserve Bank of Richmond P.O. Box 27622 Richmond, VA 23261
Workplace:	Economic Research Division, Federal Reserve Bank of Richmond, (more information at EDIRC)

Access statistics for papers by Pierre Daniel Sarte.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

Short-id: psa30

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Jump to Journal Articles Chapters

Working Papers

2022

1. Aggregate Implications of Changing Sectoral Trends
   Working Paper Series, Federal Reserve Bank of San Francisco View citations (8)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (14)
   Working Paper, Federal Reserve Bank of Richmond (2019) View citations (13)
   Working Papers, Princeton University. Economics Department. (2021)
2. Multilateral Comovement in a New Keynesian World: A Little Trade Goes a Long Way
   Working Paper, Federal Reserve Bank of Richmond View citations (2)

2020

3. From the Regional Economy to the Macroeconomy
   GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
4. Plants in Space
   Working Paper, Federal Reserve Bank of Richmond
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (6)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (6)
   2019 Meeting Papers, Society for Economic Dynamics (2019)

2019

5. Cognitive Hubs and Spatial Redistribution
   Working Paper, Federal Reserve Bank of Richmond View citations (9)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (9)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (10)
6. Diverging Trends in National and Local Concentration
   2019 Meeting Papers, Society for Economic Dynamics View citations (9)
   Also in Working Paper, Federal Reserve Bank of Richmond (2018) View citations (36)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (66)
   NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (62)
   See also Chapter Diverging Trends in National and Local Concentration, NBER Chapters, National Bureau of Economic Research, Inc (2020) View citations (21) (2020)
   Journal Article Diverging Trends in National and Local Concentration, NBER Macroeconomics Annual, University of Chicago Press (2021) View citations (20) (2021)
7. Sectoral and Aggregate Structural Change
   2019 Meeting Papers, Society for Economic Dynamics

2018

8. Rethinking Detroit
   Opportunity and Inclusive Growth Institute Working Papers, Federal Reserve Bank of Minneapolis
   Also in Working Paper, Federal Reserve Bank of Richmond (2017) View citations (3)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (1)
   NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (24)
   See also Journal Article Rethinking Detroit, American Economic Journal: Economic Policy, American Economic Association (2020) View citations (14) (2020)

2016

9. An anatomy of U.S. personal bankruptcy under Chapter 13
   Staff Reports, Federal Reserve Bank of New York
   Also in Working Paper, Federal Reserve Bank of Richmond (2007) View citations (2)
   Working Papers, Rice University, Department of Economics (2014) View citations (5)
   Working Papers, Federal Reserve Bank of Philadelphia (2014) View citations (5)
   Working Papers, Federal Reserve Bank of Philadelphia (2007) View citations (3)
   See also Journal Article AN ANATOMY OF U.S. PERSONAL BANKRUPTCY UNDER CHAPTER 13, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2017) View citations (1) (2017)
10. Cross-Occupation Externalities and Local Industrial Policy
    2016 Meeting Papers, Society for Economic Dynamics

2015

11. Learning About Consumer Uncertainty from Qualitative Surveys: As Uncertain As Ever
    Working Paper, Federal Reserve Bank of Richmond View citations (4)

2014

12. The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (53)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (56)
    Working Paper, Federal Reserve Bank of Richmond (2013) View citations (15)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (63)
    2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (41)
    See also Journal Article The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy, The Review of Economic Studies, Review of Economic Studies Ltd (2018) View citations (75) (2018)
13. What Inventory Behavior Tells Us About How Business Cycles Have Changed
    Working Paper, Federal Reserve Bank of Richmond View citations (2)
    See also Journal Article What inventory behavior tells us about how business cycles have changed, Journal of Monetary Economics, Elsevier (2015) View citations (16) (2015)

2013

14. Inter-Regional Trade, Inter-Sectoral Trade, and Productivity
    2013 Meeting Papers, Society for Economic Dynamics

2010

15. Learning about informational rigidities from sectoral data and diffusion indices
    Working Paper, Federal Reserve Bank of Richmond

2008

16. Aggregate Shocks and the Variability of Industrial Production
    2008 Meeting Papers, Society for Economic Dynamics
    Also in Working Paper, Federal Reserve Bank of Richmond (2008) View citations (56)
    NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (22)
    See also Journal Article Sectoral versus Aggregate Shocks: A Structural Factor Analysis of Industrial Production, Journal of Political Economy, University of Chicago Press (2011) View citations (347) (2011)
17. Housing Externalities
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (47)
    See also Journal Article Housing Externalities, Journal of Political Economy, University of Chicago Press (2010) View citations (138) (2010)
18. Housing externalities: evidence from spatially concentrated urban revitalization programs
    Working Paper, Federal Reserve Bank of Richmond View citations (3)

2007

19. A Structural Model of Chapter 13 Personal Bankruptcy
    2007 Meeting Papers, Society for Economic Dynamics View citations (1)

2006

20. Distortionary Taxes and Public Investment When Government Promises Are Not Enforceable
    Working Papers, University of Delaware, Department of Economics View citations (6)
    See also Journal Article Distortionary taxes and public investment when government promises are not enforceable, Journal of Economic Dynamics and Control, Elsevier (2009) View citations (40) (2009)
21. Optimal Policy and (the Lack of) Time Inconsistency: Insights from Simple Models
    Working Papers, University of Delaware, Department of Economics View citations (5)
22. The Dynamics of Chapter 13 Bankruptcy
    2006 Meeting Papers, Society for Economic Dynamics View citations (1)
23. Understanding how employment responds to productivity shocks in a model with inventories
    Working Paper, Federal Reserve Bank of Richmond View citations (9)

2005

24. Firm Fragmentation and Urban Patterns
    Discussion Papers, Stanford Institute for Economic Policy Research View citations (4)
    Also in Working Paper, Federal Reserve Bank of Richmond (2005) View citations (2)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (22)
    See also Journal Article FIRM FRAGMENTATION AND URBAN PATTERNS, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2009) View citations (62) (2009)
25. Optimal Fiscal Policy and the (Lack of) Time Inconsistency Problem
    2005 Meeting Papers, Society for Economic Dynamics View citations (1)

2004

26. Productivity, employment, and inventories
    Working Paper, Federal Reserve Bank of Richmond View citations (3)

2003

27. Growth effects of progressive taxes
    Working Papers, Federal Reserve Bank of Philadelphia View citations (3)
    Also in Working Paper, Federal Reserve Bank of Richmond (2001)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (1)
28. Optimal public investment with and without government commitment
    Working Paper, Federal Reserve Bank of Richmond View citations (3)
29. The macroeconomics of U.S. consumer bankruptcy choice: Chapter 7 or Chapter 13?
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)
    Also in Working Paper, Federal Reserve Bank of Richmond (2002) View citations (3)

2001

30. Growth Effects of Progressive Taxation
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
31. Sticky prices and inventories: production smoothing reconsidered
    Working Paper, Federal Reserve Bank of Richmond View citations (7)

2000

32. Investigating fluctuations in U.S. manufacturing: what are the direct effects of informational frictions?
    Working Paper, Federal Reserve Bank of Richmond

1999

33. Analyzing firm location decisions: is public intervention justified?
    Working Paper, Federal Reserve Bank of Richmond View citations (1)
    See also Journal Article Analyzing firm location decisions: is public intervention justified?, Journal of Public Economics, Elsevier (2002) View citations (5) (2002)
34. Informality and rent-seeking bureaucracies in a model of long-run growth
    Working Paper, Federal Reserve Bank of Richmond View citations (19)
    See also Journal Article Informality and rent-seeking bureaucracies in a model of long-run growth, Journal of Monetary Economics, Elsevier (2000) View citations (125) (2000)

1998

35. Rent seeking bureaucracies and oversight in a simple growth model
    Working Paper, Federal Reserve Bank of Richmond View citations (2)
    See also Journal Article Rent-seeking bureaucracies and oversight in a simple growth model, Journal of Economic Dynamics and Control, Elsevier (2001) View citations (17) (2001)
36. Staggered prices and inventories: production smoothing reconsidered
    Working Paper, Federal Reserve Bank of Richmond View citations (2)

1997

37. Inflation uncertainty and growth in a simple monetary model
    Working Paper, Federal Reserve Bank of Richmond View citations (4)

Journal Articles

2024

1. Of Soft, Hard and Aborted Landings
   Richmond Fed Economic Brief, 2024, 24, (02)
2. The Productivity Puzzle: AI, Technology Adoption and the Workforce
   Richmond Fed Economic Brief, 2024, 24, (25)

2023

3. A Rate Cycle Unlike Any Other
   Richmond Fed Economic Brief, 2023, 23, (26)
4. How Does Trade Impact the Way GDP Growth and Inflation Comove Across Countries?
   Richmond Fed Economic Brief, 2023, 23, (1)
5. What Survey Measures of Inflation Expectations Tell Us
   Richmond Fed Economic Brief, 2023, 23, (03)

2022

6. How Persistent Is Inflation?
   Richmond Fed Economic Brief, 2022, 22, (31)

2021

7. Anatomy of a Pandemic Recovery Across Sectors and Regions
   Richmond Fed Economic Brief, 2021, 21, (40)
8. Diverging Trends in National and Local Concentration
   NBER Macroeconomics Annual, 2021, 35, (1), 115 - 150 View citations (20)
   See also Working Paper Diverging Trends in National and Local Concentration, 2019 Meeting Papers (2019) View citations (9) (2019)
   Chapter Diverging Trends in National and Local Concentration, NBER Chapters, 2020, 115-150 (2020) View citations (21) (2020)
9. Employment Effects of COVID-19 across States, Sectors
   FRBSF Economic Letter, 2021, 2021, (32), 05 View citations (1)
10. Inflation Expectations: Separating the Signal from the Noise
    Richmond Fed Economic Brief, 2021, 21, (33)
11. Local Industrial Policy and Sectoral Hubs
    AEA Papers and Proceedings, 2021, 111, 526-31

2020

12. Rethinking Detroit
    American Economic Journal: Economic Policy, 2020, 12, (2), 258-305 View citations (14)
    See also Working Paper Rethinking Detroit, Opportunity and Inclusive Growth Institute Working Papers (2018) (2018)
13. The Effects of Permanent and Transitory Shocks under Imperfect Information
    Economic Quarterly, 2020, (2Q), 41-59
14. The Information Content and Statistical Properties of Diffusion Indexes
    International Journal of Central Banking, 2020, 16, (4), 47-99 View citations (9)

2019

15. How Have Changing Sectoral Trends Affected GDP Growth?
    FRBSF Economic Letter, 2019 View citations (1)

2018

16. Idiosyncratic Sectoral Growth, Balanced Growth, and Sectoral Linkages
    Economic Quarterly, 2018, (2Q), 79-101 View citations (1)
17. The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy
    The Review of Economic Studies, 2018, 85, (4), 2042-2096 View citations (75)
    See also Working Paper The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy, CEPR Discussion Papers (2014) View citations (53) (2014)

2017

18. AN ANATOMY OF U.S. PERSONAL BANKRUPTCY UNDER CHAPTER 13
    International Economic Review, 2017, 58, (3), 671-702 View citations (1)
    See also Working Paper An anatomy of U.S. personal bankruptcy under Chapter 13, Staff Reports (2016) (2016)

2016

19. From Stylized to Quantitative Spatial Models of Cities
    Economic Quarterly, 2016, (3Q), 169-196
20. Using Inventories to Help Explain Post-1984 Business Cycles
    Richmond Fed Economic Brief, 2016, (June)

2015

21. Monitoring Economic Activity in Real Time Using Diffusion Indices: Evidence from the Fifth District
    Economic Quarterly, 2015, (4Q), 275-301 View citations (5)
22. What inventory behavior tells us about how business cycles have changed
    Journal of Monetary Economics, 2015, 76, (C), 264-283 View citations (16)
    See also Working Paper What Inventory Behavior Tells Us About How Business Cycles Have Changed, Working Paper (2014) View citations (2) (2014)
23. Why Does the Fed Study Regional Economics?
    Richmond Fed Economic Brief, 2015, (January), 1-6

2014

24. When Is Sticky Information More Information?
    Journal of Money, Credit and Banking, 2014, 46, (7), 1345-1379 View citations (1)

2013

25. Characterizing the Unusual Path of U.S. Output During and After the Great Recession
    Economic Quarterly, 2013, (3Q), 163-192

2012

26. Are depression-era employment swings overstated?
    Richmond Fed Economic Brief, 2012, (Nov)

2011

27. Is stimulative fiscal policy more effective at the zero lower bound?
    Richmond Fed Economic Brief, 2011, (Aug) View citations (6)
28. Sectoral disturbances and aggregate economic activity
    Economic Quarterly, 2011, 97, (2Q), 153-173 View citations (4)
29. Sectoral versus Aggregate Shocks: A Structural Factor Analysis of Industrial Production
    Journal of Political Economy, 2011, 119, (1), 1 - 38 View citations (347)
    See also Working Paper Aggregate Shocks and the Variability of Industrial Production, 2008 Meeting Papers (2008) (2008)

2010

30. Changes in monetary policy and the variation in interest rate changes across credit markets
    Economic Quarterly, 2010, 96, (2Q), 201-229 View citations (1)
31. Housing Externalities
    Journal of Political Economy, 2010, 118, (3), 485-535 View citations (138)
    See also Working Paper Housing Externalities, NBER Working Papers (2008) View citations (47) (2008)
32. What trends exist in regional housing market data?
    Richmond Fed Economic Brief, 2010, (Nov)

2009

33. Distortionary taxes and public investment when government promises are not enforceable
    Journal of Economic Dynamics and Control, 2009, 33, (9), 1662-1681 View citations (40)
    See also Working Paper Distortionary Taxes and Public Investment When Government Promises Are Not Enforceable, Working Papers (2006) View citations (6) (2006)
34. FIRM FRAGMENTATION AND URBAN PATTERNS
    International Economic Review, 2009, 50, (1), 143-186 View citations (62)
    See also Working Paper Firm Fragmentation and Urban Patterns, Discussion Papers (2005) View citations (4) (2005)
35. Heterogeneity in sectoral employment and the business cycle
    Economic Quarterly, 2009, 95, (Fall), 335-355 View citations (2)
36. On the employment effects of productivity shocks: The role of inventories, demand elasticity, and sticky prices
    Journal of Monetary Economics, 2009, 56, (3), 328-343 View citations (33)
37. Residential externalities
    Richmond Fed Economic Brief, 2009, (Feb)
38. Semiparametric estimation of land price gradients using large data sets
    Economic Quarterly, 2009, 95, (Win), 53-74 View citations (7)

2007

39. Barriers to foreign direct investment under political instability
    Economic Quarterly, 2007, 93, (Sum), 287-315 View citations (16)
40. The evolution of city population density in the United States
    Economic Quarterly, 2007, 93, (Fall), 341-360 View citations (5)

2006

41. Stark optimal fiscal policies and sovereign lending
    Economic Quarterly, 2006, 92, (Fall), 337-352
42. U.S. consumer bankruptcy choice: The importance of general equilibrium effects
    Journal of Monetary Economics, 2006, 53, (3), 613-631 View citations (70)

2005

43. How well do diffusion indexes capture business cycles? A spectral analysis
    Economic Quarterly, 2005, 91, (Fall), 23-42 View citations (5)

2004

44. Accommodating rising population in rural areas: the case of Loudoun County, Virginia
    Economic Quarterly, 2004, 90, (Win), 33-50
45. Comment on: "Cities under stress"
    Journal of Monetary Economics, 2004, 51, (5), 929-933
46. Progressive Taxation and Long-Run Growth
    American Economic Review, 2004, 94, (5), 1705-1716 View citations (72)
47. Using manufacturing surveys to assess economic conditions
    Economic Quarterly, 2004, 90, (Fall), 65-92 View citations (11)

2003

48. Credit market frictions and their direct effects on U.S. manufacturing fluctuations
    Journal of Economic Dynamics and Control, 2003, 28, (3), 419-443 View citations (5)
49. Efficient public investment in a model with transition dynamics
    Economic Quarterly, 2003, 89, (Win), 33-50 View citations (1)

2002

50. Analyzing firm location decisions: is public intervention justified?
    Journal of Public Economics, 2002, 86, (2), 223-242 View citations (5)
    See also Working Paper Analyzing firm location decisions: is public intervention justified?, Working Paper (1999) View citations (1) (1999)

2001

51. Consumption, savings, and the meaning of the wealth effect in general equilibrium
    Economic Quarterly, 2001, (Sum), 53-71 View citations (8)
52. Rent-seeking bureaucracies and oversight in a simple growth model
    Journal of Economic Dynamics and Control, 2001, 25, (9), 1345-1365 View citations (17)
    See also Working Paper Rent seeking bureaucracies and oversight in a simple growth model, Working Paper (1998) View citations (2) (1998)

2000

53. A study of US employment rates with emphasis on gender considerations
    Economic Quarterly, 2000, (Sum), 1-26
54. Inflation uncertainty and growth in a cash-in-advance economy
    Journal of Monetary Economics, 2000, 45, (3), 631-655 View citations (170)
55. Informality and rent-seeking bureaucracies in a model of long-run growth
    Journal of Monetary Economics, 2000, 46, (1), 173-197 View citations (125)
    See also Working Paper Informality and rent-seeking bureaucracies in a model of long-run growth, Working Paper (1999) View citations (19) (1999)

1999

56. An empirical investigation of fluctuations in manufacturing sales and inventory within a sticky-price framework
    Economic Quarterly, 1999, (Sum), 61-84 View citations (1)

1998

57. Fisher's equation and the inflation risk premium in a simple endowment economy
    Economic Quarterly, 1998, (Fall), 53-72 View citations (10)

1997

58. On the identification of structural vector autoregressions
    Economic Quarterly, 1997, (Sum), 45-68 View citations (19)
59. Progressive taxation and income inequality in dynamic competitive equilibrium
    Journal of Public Economics, 1997, 66, (1), 145-171 View citations (75)

Chapters

2020

1. Diverging Trends in National and Local Concentration
   A chapter in NBER Macroeconomics Annual 2020, volume 35, 2020, pp 115-150 View citations (21)
   See also Journal Article Diverging Trends in National and Local Concentration, University of Chicago Press (2021) View citations (20) (2021)
   Working Paper Diverging Trends in National and Local Concentration, Society for Economic Dynamics (2019) View citations (9) (2019)