Working Papers

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11-45: On the network topology of variance decompositions: Measuring the connectedness of financial firms

Francis X. Diebold and Kamil Yilmaz

11-44: Declining labor turnover and turbulence

Shigeru Fujita

11-43: Soverign risk and the effects of fiscal retrenchment in deep recessions

Giancarlo Corsetti, Keith Kuester, Andre Meier and Gernot J. Muller

11-42: The agglomeration of R&D labs

Gerald A. Carlino, Jake K. Carr, Robert M. Hunt and Tony E. Smith

11-41: Improving GDP measurement: a forecast combination perspective

S. Boragan Aruoba, Francis X. Diebold, Jeremy Nalewaik, Frank Schorfheide and Dongo Song

11-40: Do Phillips curves conditionally help to forecast inflation?

Michael Dotsey, Shigeru Fujita and Tom Stark

11-39: Rising indebtedness and temptation: a welfare analysis

Makoto Nakajima

11-38: Portage and path dependence

Hoyt Bleakley and Jeffrey Lin

11-37: How much did banks pay to become too-big-to-fail and to become systematically important?

Elijah Brewer and Julapa A. Jagtiani

11-36: Trading dynamics in decentralized markets with adverse selection

Braz Camargo and Benjamin R. Lester

11-35: Dealing with consumer default: bankruptcy vs. garnishment

Satyajit Chatterjee and Grey Gordon

11-34: Can oil prices forecast exchange rates?

Domenico Ferraro, Kenneth S Rogoff and Barbara Rossi

11-33: Maturity, indebtedness, and default risk

Satyajit Chatterjee and Burcu Eyigungor

11-32: Fiscal volatility shocks and economic activity

Jesus Fernandez-Villaverde, Pablo A. Guerron, Keith Kuester and Juan F Rubio-Ramirez

11-31: Out-of-sample forecast tests robust to the choice of window size

Barbara Rossi and Atsushi Inoue

11-30: Collateral damage: Sizing and assessing the subprime CDO crisis

Larry Cordell, Yilin Huang and Meredith Williams

11-29: On the implementation of Markov-perfect monetary policy

Michael Dotsey and Andreas Hornstein

11-28: Optimal monetary policy in a model of money and credit

Pedro Gomis-Porqueras and Daniel R. Sanches

11-27: Who said large banks don't experience scale economies? Evidence from a risk-return-driven cost function

Joseph P. Hughes and Loretta J. Mester

11-26: A quantitative analysis of the U.S. housing and mortgage markets and the foreclosure crisis

Satyajit Chatterjee and Burcu Eyigungor

11-25: Real-time data and fiscal policy analysis: a survey of the literature

Jacopo Cimadomo

11-24: Core measures of inflation as predictors of total inflation

Theodor M. Crone, N. Neil K. Khettry, Loretta J. Mester and Jason A. Novak

11-23: The dynamics of public investment under persistent electoral advantage

Marina Azzimonti

11-22: The trust preferred CDO market: from start to (expected) finish

Larry Cordell, Michael Hopkins and Yilin Huang

11-21: Partisan cycles and the consumption volatility puzzle

Marina Azzimonti and Matthew Talbert

11-20: Inference for VARs identified with sign restrictions

Hyungsik Roger Moon, Frank Schorfheide, Eleonara Granziera and Mihye Lee

11-19: Establishment heterogeneity, exporter dynamics, and the effects of trade liberalization

George Alessandria and Horag Choi

11-18: Private equity premium in a general equilibrium model of uninsurable investment risk

Francisco Covas and Shigeru Fujita

11-17: Limited and varying consumer attention: evidence from shocks to the salience of bank overdraft fees

Victor Stango and Jonathan Zinman

11-16: The long and large decline in state employment growth volatility

Gerald A. Carlino, Robert DeFina and Keith Sill

11-15: Home equity withdrawal in retirement

Makoto Nakajima and Irina A. Telyukova

11-14: Bankruptcy: is it enough to forgive or must we also forget?

Ronel Elul and Piero Gottardi

11-13: Credit cycle and adverse selection effects in consumer credit markets -- evidence from the HELOC market

Paul Calem, Matthew Cannon and Leonard Nakamura

11-12: Subprime mortgages and the housing bubble

Jan K. Brueckner, Paul S. Calem and Leonard I. Nakamura

11-11: Is technology-enhanced credit counseling as effective as in-person delivery?

John Barron and Michael E. Staten

11-10: UK World War I and interwar data for business cycle and growth analysis

James M. Nason and Shaun P. Vahey

11-9: Floats, pegs and the transmission of fiscal policy

Giancarlo Corsetti, Keith Kuester and Gernot J. Muller

11-8: A quantitative analysis of unemployment benefit extensions

Makoto Nakajima

11-7: Estimation and evaluation of DSGE models: progress and challenges

Frank Schorfheide

11-6: U.S. trade and inventory dynamics

George Alessandria, Joseph P. Kaboski and Virgiliu Midrigan

11-5: Evaluating DSGE model forecasts of comovements

Edward Herbst and Frank Schorfheide

11-4: Optimal monetary policy in a model of money and credit

Pedro Gomis-Porqueras and Daniel R. Sanches

11-3: Strategic default on first and second lien mortgages during the financial crisis

Julapa A. Jagtiani and William W. Lang

11-2: A dynamic model of unsecured credit

Daniel R. Sanches

11-1: Lessons from the latest data on U.S. productivity

Jan Jacobs and Simon van Norden

10-37: Consumption and time use over the life cycle

Michael Dotsey, Wenli Li and Fang Yang

10-36: Market run-ups, market freezes, and leverage

Philip Bond and Yaron Leitner

10-35: Effects of extended unemployment insurance benefits: evidence from the monthly CPS

Shigeru Fujita

10-34: Reality of on-the-job search

Shigeru Fujita

10-33: The agglomeration of R&D labs

Gerald A. Carlino, Jake Carr, Robert M. Hunt and Tony E. Smith