Working Papers

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09-31: Internal capital markets and corporate politics in a banking group

Martijn Cremers, Rocco Huang and Zacharias Sautner

09-30: Creditor control of free cash flow

Rocco Huang

09-29: Predictive density construction and accuracy testing with multiple possibly misspecified diffusion models

Valentina Corradi and Norman R. Swanson

09-28: Real-time datasets really do make a difference: definitional change, data release, and forecasting

Andres Fernandez and Norman R. Swanson

09-27: Monetary policy implementation frameworks: a comparative analysis

Antoine Martin and Cyril Monnet

09-26: Banking: a mechanism design approach

Fabrizio Mattesini, Cyril Monnet and Randall Wright

09-25: Rising indebtedness and hyperbolic discounting: a welfare analysis

Makoto Nakajima

09-24: Why do markets freeze?

Philip Bond and Yaron Leitner

09-23: Time-varying capital requirements in a general equilibrium model of liquidity dependence

Francisco Covas and Shigeru Fujita

09-22: Foreclosures and house price dynamics: a quantitative analysis of the mortgage crisis and the foreclosure prevention policy

Satyajit Chatterjee and Burcu Eyigungor

09-21: Securitization and the mortgage default: reputation vs. adverse selection

Ronel Elul

09-20: Do uncertainty and technology drive exchange rates?

Pablo A. Guerron-Quintana

09-19: How much of South Korea's growth miracle can be explained by trade policy?

Michelle Connolly and Kei-Mu Yi

09-18: Money talks

Marie Hoerova, Cyril Monnet and Ted Temzelides

09-17: Technological adaptation, cities and new work

Jeffrey Lin

09-16: The geography of research and development activity in the U.S

Kristy Buzard and Gerald A. Carlino

09-15: Economies of scale and the size of exporters

Roc Armenter and Miklós Koren

09-14: The establishment-level behavior of vacancies and hiring

Steven Davis, R. Jason Faberman and John Haltiwanger

09-13: Frequentist inference in weakly identified DSGE models

Pablo Guerron-Quintana, Atsushi Inoue and Lutz Kilian

09-12: What explains the quantity and quality of local inventive activity?

Gerald A. Carlino and Robert Hunt

09-11: Intangible assets and national income accounting: measuring a scientific revolution

Leonard I. Nakamura

09-10: Inducing agents to report hidden trades: a theory of an intermediary

Yaron Leitner

09-9: The long and large decline in state employment growth volatility

Gerald A. Carlino, Robert DeFina and Keith Sill

09-8: Sticky prices versus monetary frictions: an estimation of policy trade-offs

S. Boragan Aruoba and Frank Schorfheide

09-7: Housing over time and over the life cycle: a structural estimation

Wenli Li, Haiyong Liu and Rui Yao

09-6: Inflation dynamics with labour market matching: assessing alternative specifications

Kai Christoffel, James S. Costain, Grégory de Walque, Keith Kuester, Tobias Linzert, Stephen Millard and Olivier Pierrard

09-5: Introduction to price and productivity measurement for housing

Bert M. Balk, Walter Erwin Diewert and Alice O. Nakamura

09-4: Accounting for housing in a CPI

Walter Erwin Diewert and Alice O. Nakamura

09-3: The dark side of bank wholesale funding

Rocco Huang and Lev Ratnovski

09-2: Maturity, indebtedness, and default risk

Satyajit Chatterjee and Burcu Eyigungor

09-1: The role of labor markets for Euro area monetary policy

Kai Christoffel, Keith Kuester and Tobias Linzert

08-33: Efficient institutions

Thorsten V. Koeppl, Cyril Monnet and Erwan Quintin

08-32: Restricting consumer credit access: household survey evidence on effects around the Oregon rate cap

Jonathan Zinman

08-31: The (un)importance of unemployment fluctuations for welfare

Philip Jung and Keith Kuester

08-30: On the implementation of Markov-perfect interest rate and money supply rules: global and local uniqueness

Michael Dotsey and Andreas Hornstein

08-29: Insurance policies for monetary policy in the euro area

Keith Kuester and Volker Wieland

08-28: Rents have been rising, not falling, in the postwar period

Theodore Crone, Leonard I. Nakamura and Richard Voith

08-27: Information in the revision process of real-time datasets

Valentina Corradi, Andres Fernandez and Norman R. Swanson

08-26: Spinoffs and the market for ideas

Satyajit Chatterjee and Esteban Rossi-Hansberg

08-25: Seeing inside the black box: Using diffusion index methodology to construct factor proxies in large scale macroeconomic time series environments

Nii Ayi Armah and Norman R. Swanson

08-24: Predatory mortgage lending

Philip Bond, David K. Musto and Bilge Yilmaz

08-23: Intangible assets and national income accounting

Leonard I. Nakamura

08-22: City Beautiful

Gerald A. Carlino and Albert Saiz

08-21: Firm default and aggregate fluctuations

Tor Jacobson, Rikard Kindell, Jesper Lindé and Kasper Roszbach

08-20: The effect of monetary tightening on local banks

Rocco Huang

08-19: Real-time measurement of business conditions

S. Boragan Aruoba, Francis Diebold and Chiara Scotti

08-18: In harm’s way? Payday loan access and military personnel performance

Scott E. Carrell and Jonathan Zinman

08-17: DSGE model-based forecasting of non-modelled variables

Frank Schorfheide, Keith Sill and Maxym Kryshko

08-16: Measuring financial asset return and volatility spillovers, with application to global equity markets

Francis Diebold and Kamil Yilmaz

08-15: The elasticity of the unemployment rate with respect to benefits

Kai Christoffel and Keith Kuester