Details about Egon Zakrajšek

Homepage:	https://www.bis.org/author/egon_zakraj%C5%A1ek.htm
Workplace:	Bank for International Settlements (BIS), (more information at EDIRC)

Access statistics for papers by Egon Zakrajšek.

Last updated 2023-05-08. Update your information in the RePEc Author Service.

Short-id: pza207

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Working Papers

2023

1. Does money growth help explain the recent inflation surge?
   BIS Bulletins, Bank for International Settlements
2. Financial heterogeneity and monetary union
   BIS Working Papers, Bank for International Settlements
   Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (7)
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2018) View citations (6)

2022

3. "Front-loading" monetary tightening: pros and cons
   BIS Bulletins, Bank for International Settlements

2021

4. Income inequality and the depth of economic downturns
   BIS Working Papers, Bank for International Settlements View citations (2)
   See also Journal Article in Economics Letters (2021)
5. Sovereign Risk and Financial Risk
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
   Also in 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (2)
   FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2021) View citations (1)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
   FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2021) View citations (1)
   See also Chapter (2021)
   Journal Article in Journal of International Economics (2022)
6. The Fed takes on corporate credit risk: an analysis of the efficacy of the SMCCF
   BIS Working Papers, Bank for International Settlements View citations (3)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (42)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (39)
   FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2020) View citations (27)

2020

7. The outlook for business bankruptcies
   BIS Bulletins, Bank for International Settlements View citations (8)

2019

8. Trade Exposure and the Evolution of Inflation Dynamics
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
   Also in Working Papers Central Bank of Chile, Central Bank of Chile (2019) View citations (8)
   See also Chapter (2020)
9. US Monetary Policy and International Bond Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2018) View citations (4)
   See also Journal Article in Journal of Money, Credit and Banking (2019)

2016

10. Credit-Market Sentiment and the Business Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) View citations (16)
    See also Journal Article in The Quarterly Journal of Economics (2017)
11. Inflation Dynamics During the Financial Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (13)
    Working Papers, Brandeis University, Department of Economics and International Business School (2013) View citations (46)
    2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (15)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) View citations (20)
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2015) View citations (38)
    See also Journal Article in American Economic Review (2017)
12. Recession Risk and the Excess Bond Premium
    FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (20)
13. The Macroeconomic Impact of Financial and Uncertainty Shocks
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (231)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (300)
    See also Journal Article in European Economic Review (2016)
14. Updating the Recession Risk and the Excess Bond Premium
    FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (38)

2014

15. Interest Rate Risk and Bank Equity Valuations
    Working Papers, University of Pennsylvania, Wharton School, Weiss Center View citations (8)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2012) View citations (20)
    See also Journal Article in Journal of Monetary Economics (2018)
16. Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (12)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (4)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (8)
    See also Journal Article in American Economic Journal: Macroeconomics (2015)
    Chapter (2013)
17. Uncertainty, Financial Frictions, and Investment Dynamics
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (285)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (80)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (401)

2013

18. On the Identification of Financial and Uncertainty Shocks
    2013 Meeting Papers, Society for Economic Dynamics View citations (17)
19. Stress-testing U.S. bank holding companies: a dynamic panel quantile regression approach
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
    See also Journal Article in International Journal of Forecasting (2014)
20. The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (69)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2013) View citations (66)
    See also Journal Article in Journal of Money, Credit and Banking (2013)

2012

21. Changes in bank lending standards and the macroeconomy
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (28)
    See also Journal Article in Journal of Monetary Economics (2014)
22. Credit spreads as predictors of real-time economic activity: a Bayesian Model-Averaging approach
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (16)
23. Misallocation and Financial Frictions: Some Direct Evidence From the Dispersion in Borrowing Costs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
24. Misallocation and financial market frictions: some direct evidence from the dispersion in borrowing costs
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Review of Economic Dynamics (2013)

2011

25. Credit Spreads and Business Cycle Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (50)
    See also Journal Article in American Economic Review (2012)

2009

26. Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets
    2009 Meeting Papers, Society for Economic Dynamics View citations (370)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (409)
    See also Journal Article in Journal of Monetary Economics (2009)

2007

27. Investment and the Cost of Capital: New Evidence from the Corporate Bond Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (71)

2005

28. The Determinants of Market Frictions in the Corporate Market
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (13)

2004

29. The magnitude and cyclical behavior of financial market frictions
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (63)

2002

30. Inventory dynamics and business cycles: what has changed?
    Staff Reports, Federal Reserve Bank of New York View citations (4)
    See also Journal Article in Journal of Money, Credit and Banking (2007)

2001

31. Capital requirements, business loans, and business cycles: an empirical analysis of the standardized approach in the new Basel Capital Accord
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (11)

2000

32. Factor Supplies and Specialization in the World Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    Also in Staff Reports, Federal Reserve Bank of New York (2000) View citations (30)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2000) View citations (24)
33. Microeconomic inventory adjustment: evidence from U.S. firm-level data
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
    Also in Staff Reports, Federal Reserve Bank of New York (2000) View citations (4)
34. Purchasing power parity: three stakes through the heart of the unit root null
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
    Also in Staff Reports, Federal Reserve Bank of New York (1999) View citations (31)

1999

35. Microeconomic inventory adjustment and aggregate dynamics
    BIS Working Papers, Bank for International Settlements View citations (1)
    Also in Staff Reports, Federal Reserve Bank of New York (1998) View citations (3)

1998

36. Trade inventories
    Staff Reports, Federal Reserve Bank of New York View citations (5)

1997

37. Retail inventories, internal finance, and aggregate fluctuations
    Research Paper, Federal Reserve Bank of New York View citations (6)

1995

38. Retail Inventories, Internal Finance, and Aggregate Fluctuations: Evidence From Firm-Level Panel Data
    Working Papers, U.S. Census Bureau, Center for Economic Studies

Journal Articles

2022

1. Introducing the Credit Market Sentiment Index
   Richmond Fed Economic Brief, 2022, 22, (33)
2. Sovereign risk and financial risk
   Journal of International Economics, 2022, 136, (C) View citations (6)
   See also Working Paper (2021)
   Chapter (2021)

2021

3. Income Inequality and the depth of economic downturns
   Economics Letters, 2021, 205, (C) View citations (1)
   See also Working Paper (2021)
4. Monetary policy, relative prices and inflation control: flexibility born out of success
   BIS Quarterly Review, 2021 View citations (5)

2019

5. U.S. Monetary Policy and International Bond Markets
   Journal of Money, Credit and Banking, 2019, 51, (S1), 127-161
   See also Working Paper (2019)

2018

6. Interest rate risk and bank equity valuations
   Journal of Monetary Economics, 2018, 98, (C), 80-97 View citations (65)
   See also Working Paper (2014)

2017

7. Comment on bank liabilities channel
   Journal of Monetary Economics, 2017, 89, (C), 45-50
8. Credit-Market Sentiment and the Business Cycle
   The Quarterly Journal of Economics, 2017, 132, (3), 1373-1426 View citations (107)
   See also Working Paper (2016)
9. Inflation Dynamics during the Financial Crisis
   American Economic Review, 2017, 107, (3), 785-823 View citations (143)
   See also Working Paper (2016)

2016

10. The macroeconomic impact of financial and uncertainty shocks
    European Economic Review, 2016, 88, (C), 185-207 View citations (305)
    See also Working Paper (2016)
11. The response of sovereign bond yields to U.S. monetary policy
    Journal Economía Chilena (The Chilean Economy), 2016, 19, (2), 102-106 View citations (10)
    See also Chapter (2016)

2015

12. Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
    American Economic Journal: Macroeconomics, 2015, 7, (1), 77-109 View citations (119)
    See also Chapter (2013)
    Working Paper (2014)

2014

13. Changes in bank lending standards and the macroeconomy
    Journal of Monetary Economics, 2014, 62, (C), 23-40 View citations (198)
    See also Working Paper (2012)
14. Stress-testing US bank holding companies: A dynamic panel quantile regression approach
    International Journal of Forecasting, 2014, 30, (3), 691-713 View citations (35)
    See also Working Paper (2013)

2013

15. Misallocation and Financial Market Frictions: Some Direct Evidence from the Dispersion in Borrowing Costs
    Review of Economic Dynamics, 2013, 16, (1), 159-176 View citations (95)
    See also Software Item (2012)
    Working Paper (2012)
16. The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk
    Journal of Money, Credit and Banking, 2013, 45, (s2), 29-57 View citations (50)
    Also in Journal of Money, Credit and Banking, 2013, 45, (s2), 29-57 (2013) View citations (23)
    See also Working Paper (2013)

2012

17. Credit Spreads and Business Cycle Fluctuations
    American Economic Review, 2012, 102, (4), 1692-1720 View citations (1109)
    See also Working Paper (2011)

2011

18. Monetary Policy and Credit Supply Shocks
    IMF Economic Review, 2011, 59, (2), 195-232 View citations (58)

2009

19. Credit market shocks and economic fluctuations: Evidence from corporate bond and stock markets
    Journal of Monetary Economics, 2009, 56, (4), 471-493 View citations (371)
    See also Working Paper (2009)

2007

20. Inventory Dynamics and Business Cycles: What Has Changed?
    Journal of Money, Credit and Banking, 2007, 39, (2‐3), 591-613 View citations (5)
    Also in Journal of Money, Credit and Banking, 2007, 39, (2-3), 591-613 (2007) View citations (52)
    See also Working Paper (2002)

2003

21. Recent developments in business lending by commercial banks
    Federal Reserve Bulletin, 2003, 89, (Dec), 477-492 View citations (10)

2001

22. Profits and balance sheet developments at U.S. commercial banks in 2000
    Federal Reserve Bulletin, 2001, 87, (Jun), 367-393 View citations (1)

2000

23. Profits and balance sheet developments at U.S. commercial banks in 1999
    Federal Reserve Bulletin, 2000, 86, (Jun), 367-395

1995

24. The importance of credit for macroeconomic activity: identification through heterogeneity
    Conference Series ; [Proceedings], 1995, 39, 129-173 View citations (33)
    See also Chapter (1998)

Books

2023

1. The two-regime view of inflation
   BIS Papers, Bank for International Settlements View citations (3)

Chapters

2023

1. Banks
   Chapter 6 in Research Handbook of Financial Markets, 2023, pp 126-146

2021

2. Sovereign Risk and Financial Risk
   A chapter in NBER International Seminar on Macroeconomics 2021, 2021 View citations (2)
   See also Working Paper (2021)
   Journal Article in Journal of International Economics (2022)

2020

3. Trade Exposure and the Evolution of Inflation Dynamics
   Chapter 06 in Changing Inflation Dynamics,Evolving Monetary Policy, 2020, vol. 27, pp 173-226
   See also Working Paper (2019)

2016

4. The Response of Sovereign Bond Yields to U.S. Monetary Policy
   Chapter 08 in Monetary Policy through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated World, 2016, vol. 24, pp 257-283 View citations (9)
   See also Journal Article in Journal Economía Chilena (The Chilean Economy) (2016)

2013

5. Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
   A chapter in Lessons from the Financial Crisis for Monetary Policy, 2013 View citations (3)
   See also Journal Article in American Economic Journal: Macroeconomics (2015)
   Working Paper (2014)

2012

6. Bank Lending and Credit Supply Shocks
   Palgrave Macmillan View citations (13)

2011

7. Improving Our Ability to Monitor Bank Lending
   A chapter in Risk Topography: Systemic Risk and Macro Modeling, 2011, pp 149-161 View citations (6)

1998

8. The Importance of Credit for Macroeconomic Activity: Identification through Heterogeneity
   Palgrave Macmillan
   See also Journal Article in Conference Series ; [Proceedings] (1995)

Software Items

2012

1. Code and data files for "Misallocation and Financial Market Frictions: Some Direct Evidence from the Dispersion in Borrowing Costs"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2013)