Working Papers

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22-14: Do Multisectoral New Keynesian Models Match Sectoral Data?

Philippe Andrade and Viacheslav Sheremirov

22-13: Did High Leverage Render Small Businesses Vulnerable to the COVID-19 Shock?

Falk Bräuning, Jose Fillat and J. Christina Wang

22-12: Bad Times, Bad Jobs? How Recessions Affect Early Career Trajectories

Parag Mahajan, Dhiren Patki and Heiko Stüber

22-11: Finding Needles in Haystacks: Multiple-Imputation Record Linkage Using Machine Learning

John Abowd, Joelle Hillary Abramowitz, Margaret Levenstein, Kristin McCue, Dhiren Patki, Trivellore Raghunathan, Ann Michelle Rodgers, Matthew Shapiro, Nada Wasi and Dawn Zinsser

22-10: How to Increase Housing Affordability: Understanding Local Deterrents to Building Multifamily Housing

Nicholas Chiumenti, Amrita Kulka and Aradhya Sood

22-9: The Role of Industrial Composition in Driving the Frequency of Price Change

Christopher Cotton and Vaishali Garga

22-8: Credit Card Debt Puzzle: Liquid Assets to Pay Bills

Claire Greene and Joanna Stavins

22-7: Impact of Occupational Unemployment Risk on Household Spending

Christopher Cotton, Vaishali Garga and Justin Rohan

22-6: Payments Evolution from Paper to Electronic Payments by Merchant Type

Ruth Cohen, Oz Shy and Joanna Stavins

22-5: High-Yield Debt Covenants and Their Real Effects

Falk Bräuning, Victoria Ivashina and Ali Ozdagli

22-4: Inflation Levels and (In)Attention

Anat Bracha and Jenny Tang

22-3: Racial Wealth Disparities: Reconsidering the Roles of Human Capital and Inheritance

Jeffrey Thompson

22-2: Interest Rate Surprises: A Tale of Two Shocks

Ricardo Nunes, Ali Ozdagli and Jenny Tang

22-1: Should the ECB Adjust Its Strategy in the Face of a Lower r*?

Philippe Andrade, Jordi Galí, Hervé Le Bihan and Julien Matheron

21-20: On the Origins of the Multinational Premium

Jose Fillat and Stefania Garetto

21-19: Job Displacement and Sectoral Mobility

Osborne Jackson

21-18: Corporate Finance and the Transmission of Shocks to the Real Economy

Falk Bräuning, Jose Fillat and Gustavo Joaquim

21-17: Did the Affordable Care Act Affect Access to Medications for Opioid Use Disorder among the Already Insured? Evidence from the Rhode Island All-payer Claims Database

Mary Burke, Katherine Carman, Riley Sullivan, Hefei Wen, James Frank Wharam and Hao Yu

21-16: Optimal Allocation of Relief Funds: The Case of the Paycheck Protection Program

Gustavo Joaquim and Felipe Netto

21-15: Bank Incentives and the Effect of the Paycheck Protection Program

Gustavo Joaquim and Felipe Netto

21-14: Opting in with the Joneses: What Affects the Timing of Municipal Adoption of a Local-option Meals Tax?

Bo Zhao

21-13: The Transmission Mechanisms of International Business Cycles: Output Spillovers through Trade and Financial Linkages

Falk Bräuning and Viacheslav Sheremirov

21-12: Has COVID Changed Consumer Payment Behavior?

Claire Greene, Ellen A. Merry and Joanna Stavins

21-11: The Valuation Effects of Trade

Omar Barbiero

21-10: High-Frequency Spending Responses to Government Transfer Payments

Daniel Cooper and Giovanni Olivei

21-9: Rising Geographic Disparities in US Mortality

Benjamin Couillard, Christopher Foote, Kavish Gandhi, Ellen Meara and Jonathan Skinner

21-8: The Mortgage Cash Flow Channel of Monetary Policy Transmission: A Tale of Two Countries

Daniel Cooper, Vaishali Garga and Maria Luengo-Prado

21-7: Breaking the Implicit Contract: Using Pension Freezes to Study Lifetime Labor Supply

Dhiren Patki

21-6: Wealth Concentration in the United States Using an Expanded Measure of Net Worth

Alice Henriques Volz, Lindsay Jacobs, Elizabeth Llanes, Kevin B. Moore and Jeffrey Thompson

21-5: Payments Evolution from Paper to Electronic: Bill Payments and Purchases

Joanna Stavins

21-4: How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic

Andreas Fuster, Aurel Hizmo, Lauren Lambie-Hanson, James Vickery and Paul Willen

21-3: Who Gets Medication-assisted Treatment for Opioid Use Disorder, and Does It Reduce Overdose Risk? Evidence from the Rhode Island All-payer Claims Database

Mary Burke, Katherine Carman, Riley Sullivan, Hefei Wen, James Frank Wharam and Hao Yu

21-2: The Roles of State Aid and Local Conditions in Elementary School Test-Score Gaps

Katharine Bradbury

21-1: How to Design a State Education Aid Formula That Is Equitable, Adequate, and Politically Feasible: The Case of Connecticut

Bo Zhao

20-20: A Fundamental Connection: Exchange Rates and Macroeconomic Expectations

Vania Stavrakeva and Jenny Tang

20-19: Do Lenders Still Discriminate? A Robust Approach for Assessing Differences in Menus

Paul Willen and David Hao Zhang

20-17: No Firm Is an Island? How Industry Conditions Shape Firms’ Expectations

Philippe Andrade, Olivier Coibion, Erwan Gautier and Yuriy Gorodnichenko

20-16: Consumption Heterogeneity by Occupation: Understanding the Impact of Occupation on Personal Consumption during the COVID-19 Pandemic

Christopher Cotton, Vaishali Garga and Justin Rohan

20-15: Household Inflation Expectations and Consumer Spending: Evidence from Panel Data

Mary Burke and Ali Ozdagli

20-14: Larceny in the Product Market: A Hidden Tax?

Osborne Jackson and Thu Tran

20-13: Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in the United States and Canada

Marie-Helene Felt, Fumiko Hayashi, Joanna Stavins and Angelika Welte

20-12: The Impact of Regulatory Stress Tests on Bank Lending and Its Macroeconomic Consequences

Falk Bräuning and Jose Fillat

20-11: Fiscal Expansions in the Era of Low Real Interest Rates

Vaishali Garga

20-10: Bargaining Power and Outside Options in the Interbank Lending Market

Puriya Abbassi, Falk Bräuning and Niels Schulze

20-9: Consumer Payment Choice for Bill Payments

Claire Greene and Joanna Stavins

20-8: Real Effects of Foreign Exchange Risk Migration: Evidence from Matched Firm-Bank Microdata

Puriya Abbassi and Falk Bräuning

20-7: Mortgage Prepayment, Race, and Monetary Policy

Kristopher Gerardi, Paul Willen and David Hao Zhang

20-6: Estimating the Cost Function of Connecticut Public K–12 Education: Implications for Inequity and Inadequacy in School Spending

Bo Zhao

20-5: Dynamic Sales Tax Competition: Evidence from Panel Data at the Border

Melissa Gentry, Nadia Greenhalgh-Stanley, Shawn Rohlin and Jeffrey Thompson

20-4: Wealth Distribution and Retirement Preparation among Early Savers

Alice Henriques Volz, Lindsay Jacobs, Elizabeth Llanes, Kevin B. Moore and Jeffrey Thompson