Professional Experience

Andreas Hornstein is a vice president in the Research Department. His research has been published in a number of economic journals, including the Review of Economic Studies, the Journal of Monetary Economics, and the NBER Macroeconomic Annual. Prior to joining the Richmond Fed in 1996, Hornstein taught at the University of Western Ontario in London, Canada.

Education

Ph.D., University of Minnesota, 1991
Diplom, Universitaet Konstanz (Germany), 1984

Curriculum vitae

"On the Employment Effects of Productivity Shocks: The Role of Inventories, Demand Elasticity, and Sticky Prices" (with Yongsung Chang and Pierre-Daniel Sarte). Journal of Monetary Economics 56, no. 3 (April 2009): 328-343.

"Technology-Policy Interaction in Frictional Labour-Markets" (with Per Krusell and Giovanni L. Violante). Review of Economic Studies 74, no. 4 (October 2007): 1089-1124.

"The Replacement Problem in Frictional Economies: A Near-Equivalence Result" (with Per Krusell and Giovanni L. Violante). Journal of the European Economic Association 3, no. 5 (September 2005): 1007-1057.

"Book Review: The Macroeconomics of Imperfect Competition and Nonclearing Markets: A Dynamic General Equilibrium Approach." Journal of Economic Literature 42, no. 2 (June 2004): 513-515.

"Should a Monetary Policymaker Look at Money?" (with Michael Dotsey). Journal of Monetary Economics 50, no. 3 (April 2003): 547-579.

"Book Review: Barriers to Riches." Journal of Economic Literature 40, no. 4 (December 2002): 1246-1246.

"The Role of Real Wages, Productivity, and Fiscal Policy in Germany’s Great Depression 1928-1937" (with Jonas D. M. Fisher). Review of Economic Dynamics 5, no. 1 (January 2002): 100-127.

"What Is the Real Story for Interest Rate Volatility?" (with Harald Uhlig). German Economic Review 1, no. 1 (February 2000): 43-67.

"(S, s) Inventory Policies in General Equilibrium" (with Jonas D. M. Fisher). Review of Economic Studies 67, no. 1 (January 2000): 117-145.

"Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?" (with Mingwei Yuan). Canadian Journal of Economics 32, no. 4 (August 1999): 878-905.

"Intermediate Inputs and Sectoral Comovement in the Business Cycle" (with Jack Praschnik). Journal of Monetary Economics 40, no. 3 (December 1997): 573-595.

"Monopolistic Competition, Increasing Returns to Scale, and the Importance of Productivity Shocks." Journal of Monetary Economics 31, no. 3 (June 1993): 299-316.

"Money and Insurance in a Turnpike Environment" (with Per Krusell). Economic Theory 3, no. 1 (January 1993): 19-34.

"Insurance Contracts as Commodities: A Note" (with Edward C. Prescott). Review of Economic Studies 58, no. 5 (October 1991): 917-928.

Issue	Title	Author(s)
Winter 2009	Problems for a Fundamental Theory of House Prices	Andreas Hornstein
Fall 2008	Introduction to the New Keynesian Phillips Curve	Andreas Hornstein
Fall 2007	Evolving Inflation Dynamics and the New Keynesian Phillips Curve	Andreas Hornstein
Spring 2006	Implementation of Optimal Monetary Policy	Michael Dotsey Andreas Hornstein
Fall 2005	Trend Inflation, Firm-Specific Capital, and Sticky Prices	Andreas Hornstein Alexander L. Wolman
Summer 2005	Unemployment and Vacancy Fluctuations in the Matching Model: Inspecting the Mechanism	Andreas Hornstein Per Krusell Giovanni L. Violante
Fall 2004	(Un)Balanced Growth	Andreas Hornstein
Fall 2003	Implications of the Capital-Embodiment Revolution for Directed R&D and Wage Inequality	Andreas Hornstein Per Krusell
Spring 2002	Towards a Theory of Capacity Utilization: Shiftwork and the Workweek of Capital	Andreas Hornstein
Fall 2000	The IT Revolution: Is It Evident in the Productivity Numbers?	Per Krusell Andreas Hornstein
Winter 2000	The Business Cycle and Industry Comovement	Andreas Hornstein
Summer 1999	Growth Accounting with Technological Revolutions	Andreas Hornstein
Spring 1998	Inventory Investment and the Business Cycle	Andreas Hornstein

09-6 April 2009	On the Implementation of Markov-Perfect Interest Rate and Money Supply Rules: Global and Local Uniqueness	Michael Dotsey Andreas Hornstein
09-3 April 2009	Notes on Collateral Constraints in a Simple Model of Housing	Andreas Hornstein
07-4 August 2007	Notes on the Inflation Dynamics of the New Keynesian Phillips Curve	Andreas Hornstein
06-10 November 2006	Technology-Policy Interaction in Frictional Labor Markets	Andreas Hornstein Per Krusell Giovanni L. Violante
06-8 September 2006	Technical Appendix for "Frictional Wage Dispersion in Search Models: A Quantitative Assessment"	Andreas Hornstein Per Krusell Giovanni L. Violante
06-7 September 2006	Frictional Wage Dispersion in Search Models: A Quantitative Assessment	Andreas Hornstein Per Krusell Giovanni L. Violante
06-6 August 2006	Understanding How Employment Responds to Productivity Shocks in a Model with Inventories	Yongsung Chang Andreas Hornstein Pierre-Daniel G. Sarte
06-4 May 2006	Home Production	Yongsung Chang Andreas Hornstein
05-1 April 2005	The Replacement Problem in Frictional Economies: A Near-Equivalence Result	Andreas Hornstein Per Krusell Giovanni L. Violante
04-8 December 2004	The Effects of Technical Change on Labor Market Inequalities	Andreas Hornstein Per Krusell Giovanni L. Violante
02-4 November 2002	Should Optimal Discretionary Monetary Policy Look at Money?	Michael Dotsey Andreas Hornstein
01-7 August 2001	The Role of Real Wages, Productivity, and Fiscal Policy in Germany's Great Depression 1928-37	Jonas D.M. Fisher Andreas Hornstein
99-9 October 1999	What is the Real Story for Interest Rate Volatility?	Andreas Hornstein Harald Uhlig
98-2 March 1998	Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate? (Published: Apr. 1996; Revised: Jan. 1998)	Andreas Hornstein Mingwei Yuan
98-1 March 1998	External vs. Internal Learning-by-Doing in an R&D Based Growth Model	Andreas Hornstein Dan Peled
97-7 (Published Nov. 1994, Revised Feb. 1998) May 1997	(S,s) Inventory Policies in General Equilibrium	Jonas D.M. Fisher Andreas Hornstein
97-6 May 1997	Intermediate Inputs and Sectoral Comovement in the Business Cycle	Andreas Hornstein Jack Praschnik