Finance and Economics Discussion Series

from Board of Governors of the Federal Reserve System (U.S.)
Contact information at EDIRC.
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2004-63: Housing, consumption, and credit constraints

Andreas Lehnert

2004-62: Monetary policy and inflation dynamics

John M. Roberts

2004-61: The liquidity effect in the federal funds market: evidence from daily open market operations

Seth Carpenter and Selva Demiralp

2004-60: Debt maturity, risk, and asymmetric information

Allen N. Berger, Marco Espinosa-Vega, W. Scott Frame and Nathan H. Miller

2004-59: Workweek flexibility and hours variation

Andrew Figura

2004-58: Diverging measures of capacity utilization: an explanation

Norman Morin and John Stevens

2004-57: Quantitative monetary easing and risk in financial asset markets

Takeshi Kimura and David Small

2004-56: Dynamic estimation of volatility risk premia and investor risk aversion from option-implied and realized volatilities

Tim Bollerslev, Michael Gibson and Hao Zhou

2004-55: A consistent accounting of U.S. productivity growth

Eric J. Bartelsman and J. Joseph Beaulieu

2004-54: Integrated macroeconomic accounts for the United States: draft SNA-USA

Rochelle Antoniewicz, Susan Hume McIntosh, Charles Ian Mead, Karin Moses, Brent R. Moulton, Michael Palumbo, Genevieve Solomon and Albert M. Teplin

2004-53: Market discipline in banking reconsidered: the roles of funding manager decisions and deposit insurance reform

Daniel M. Covitz, Diana Hancock and Myron L. Kwast

2004-52: Macroeconomic volatility, predictability and uncertainty in the Great Moderation: evidence from the survey of professional forecasters

Sean D. Campbell

2004-51: Consumer sentiment, the economy, and the news media

Mark E. Doms and Norman Morin

2004-50: The long-run relationship between house prices and rents

Joshua Gallin

2004-49: Estimating capacity utilization from survey data

Norman Morin and John Stevens

2004-48: Monetary policy alternatives at the zero bound: an empirical assessment

Ben S. Bernanke, Vincent Raymond Reinhart and Brian P. Sack

2004-47: Convenience or necessity? understanding the recent rise in credit card debt

Kathleen W. Johnson

2004-46: Competition, product differentiation and quality provision: an empirical equilibrium analysis of bank branching decisions

Andrew Cohen and Michael J. Mazzeo

2004-45: Expectation traps in a New Keynesian open economy model

David M. Arseneau

2004-44: Monetary policy and the information content of the yield spread

Michael Feroli

2004-43: Is moderate-to-high inflation inherently unstable?

Michael Kiley

2004-42: Do liquidity constraints matter for new entrepreneurs?

Kevin Moore

2004-41: Limited network connections and the distribution of wages

Kenneth J. Arrow and Ron Borzekowski

2004-40: The scope of monetary policy actions authorized under the Federal Reserve Act

David H. Small and James A. Clouse

2004-39: Integrating expenditure and income data: what to do with the statistical discrepancy?

J. Joseph Beaulieu and Eric J. Bartelsman

2004-38: Multimarket bank pricing: an empirical investigation of deposit interest rates

Timothy H. Hannan and Robin A. Prager

2004-37: The price and quantity of residential land in the United States

Morris Davis and Jonathan Heathcote

2004-36: Understanding the risk of synthetic CDOs

Michael S. Gibson

2004-35: Transparency and monetary policy: what does the academic literature tell policymakers?

Seth B. Carpenter

2004-34: Employer-to-employer flows in the U.S. labor market: the complete picture of gross worker flows

Bruce Fallick and Charles Fleischman

2004-33: To leave or not to leave: the distribution of bequest motives

Wojciech Kopczuk and Joseph P. Lupton

2004-32: The decline in household saving and the wealth effect

F. Thomas Juster, Joseph P. Lupton, James P. Smith and Frank Peter Stafford

2004-31: How fast do personal computers depreciate? concepts and new estimates

Mark E. Doms, Wendy E. Dunn, Stephen D. Oliner and Daniel E. Sichel

2004-30: Technology, capital spending, and capacity utilization

Cynthia Bansak, Norman Morin and Martha Starr

2004-29: Overnight interbank loan markets

Selva Demiralp, Brian Preslopsky and William Whitesell

2004-28: Fresh start or head start? The effect of filing for personal bankruptcy on the labor supply

Song Han and Wenli Li

2004-27: Loan commitments and private firms

Sumit Agarwal, Souphala Chomsisengphet and John Driscoll

2004-26: Cross-border diversification in bank asset portfolios

Claudia M. Buch, John Driscoll and Charlotte Ostergaard

2004-25: Optimal inflation in an open economy with imperfect competition

David M. Arseneau

2004-24: Commercial lending and distance: evidence from Community Reinvestment Act data

Kenneth P. Brevoort and Timothy H. Hannan

2004-23: 401(k) matching contributions in company stock: costs and benefits for firms and workers

Jeffrey Robert Brown, Nellie Liang and Scott Weisbenner

2004-22: The geography of stock market participation: the influence of communities and local firms

Jeffrey Robert Brown, Zoran Ivkovic, Paul A. Smith and Scott Weisbenner

2004-21: Learning and shifts in long-run productivity growth

Rochelle Edge, Thomas Laubach and John C. Williams

2004-20: Uncertainty and investment: an empirical investigation using data on analysts' profits forecasts

Stephen R. Bond and Jason Cummins

2004-19: What does the yield on subordinated bank debt measure?

Urs W. Birchler and Diana Hancock

2004-18: The term structure of commercial paper rates

Chris Downing and Stephen D. Oliner

2004-17: A new approach to the valuation of intangible capital

Jason Cummins

2004-16: What explains the stock market's reaction to Federal Reserve policy?

Ben S. Bernanke and Kenneth Neil Kuttner

2004-15: Medicaid's nursing home coverage and asset transfers

William F. Bassett

2004-14: The effects of technology on the age distribution of health spending: a cross-country perspective

Louise Sheiner