Finance and Economics Discussion Series

From Board of Governors of the Federal Reserve System (U.S.)
Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().

Access Statistics for this working paper series.
Track citations for all items by RSS feed
Is something missing from the series or not right? See the RePEc data check for the archive and series.

2023-060: Tokenization: Overview and Financial Stability Implications

Francesca Carapella, Grace Chuan, Jacob Gerszten and Nathan Swem

2023-059: Data Privacy for Digital Asset Systems

Jillian Mascelli

2023-058: Are Real Assets Owners Less Averse to Inflation? Evidence from Consumer Sentiments and Inflation Expectations

Geng Li and Nitish R. Sinha

2023-057: An Overview of Personal Loans in the U.S

Jessica N. Flagg and Simona Hannon

2023-056: FinTech and Banks: Strategic Partnerships That Circumvent State Usury Laws

Gregory E. Elliehausen and Simona Hannon

2023-055: Default Clustering Risk Premium and its Cross-Market Asset Pricing Implications

Kiwoong Byun, Baeho Kim and Dong Hwan Oh

2023-054: Options on Interbank Rates and Implied Disaster Risk

Hitesh Doshi, Hyung Joo Kim and Sang Byung Seo

2023-053: The Pricing Kernel in Options

Steven Heston, Kris Jacobs and Hyung Joo Kim

2023-052: Can Measurement Error Explain Slow Productivity Growth in Construction?

Daniel Garcia and Raven S. Molloy

2023-051: Sticky Leverage: Comment

Andrea Ajello, Ander Pérez-Orive and Bálint Szőke

2023-050: Disclosure Regulation, Intangible Capital and the Disappearance of Public Firms

Sara Casella, Hanbaek Lee and Sergio Villalvazo

2023-049: Why Does the Yield Curve Predict GDP Growth? The Role of Banks

Camelia Minoiu, Andrés Schneider and Min Wei

2023-048: Your Friends, Your Credit: Social Capital Measures Derived from Social Media and the Credit Market

Jesse Bricker and Geng Li

2023-047: Affording Degree Completion: An Experimental Study of Completion Grants at Accessible Public Universities

Christine Baker-Smith, Kallie Clark, Sara Goldrick-Rab, Christel Perkins, Douglas A. Webber and Travis T. York

2023-046: Termination of SNAP Emergency Allotments, Food Sufficiency, and Economic Hardships

Kabir Dasgupta and Alexander Plum

2023-045: Aggregate Implications of Deviations from Modigliani-Miller: A Sufficient Statistics Approach

Robert J. Kurtzman and David Zeke

2023-044: Interconnected DeFi: Ripple Effects from the Terra Collapse

Anton Badev and Cy Watsky

2023-043: College Networks and Re-employment of Displaced Workers

Ben Ost, Weixiang Pan and Douglas A. Webber

2023-042: A Comprehensive Empirical Evaluation of Biases in Expectation Formation

Kenneth Eva and Fabian Winkler

2023-041: End of an Era: The Coming Long-Run Slowdown in Corporate Profit Growth and Stock Returns

Michael Smolyansky

2023-041: End of an Era: The Coming Long-Run Slowdown in Corporate Profit Growth and Stock Returns

Michael Smolyansky

2023-040: Finite-State Markov-Chain Approximations: A Hidden Markov Approach

Eva F. Janssens and Sean McCrary

2023-039: The FOMC's Use of Operational Targets: 85 Years and Counting

Jeff W. Huther, Kevin F. Kiernan, Elizabeth C. Klee and Ethan Rodriguez-Shah

2023-038: Inflation and Real Activity over the Business Cycle

Francesco Bianchi, Giovanni Nicolo and Dongho Song

2023-037: Firm Financial Conditions and the Transmission of Monetary Policy

Thiago Revil T. Ferreira, Daniel Ostry and John Rogers

2023-036: Fed Communication, News, Twitter, and Echo Chambers

Bennett Schmanski, Chiara Scotti and Clara Vega

2023-035: Measuring Job Loss during the Pandemic Recession in Real Time with Twitter Data

Anbar Aizenman, Connor M. Brennan, Tomaz Cajner, Cynthia L. Doniger and Jacob Williams

2023-034: More than Words: Twitter Chatter and Financial Market Sentiment

Andrea Ajello, Diego Silva, Travis Adams and Francisco Vazquez-Grande

2023-033: Optimal Bidder Selection in Clearing House Default Auctions

Rodney Garratt, David Murphy, Travis Nesmith and Xiaopeng Wu

2023-032: Recovery of 1933

Margaret M. Jacobson, Eric M. Leeper and Bruce Preston

2023-031: The Dual U.S. Labor Market Uncovered

Hie Joo Ahn and Bart Hobijn

2023-030: Endogenous Bargaining Power and Declining Labor Compensation Share

Juan C. Córdoba, Anni T. Isojärvi and Haoran Li

2023-029: A Financial Stress Index for a Small Open Economy: The Australian Case

Pedro Gomis-Porqueras, Romina Ruprecht and Xuan Zhou

2023-028: The Effects of Volatility on Liquidity in the Treasury Market

Andrew C. Meldrum and Oleg Sokolinskiy

2023-027: Financial and Macroeconomic Data Through the Lens of a Nonlinear Dynamic Factor Model

Pablo Guerrón-Quintana, Alexey Khazanov and Molin Zhong

2023-026: Less Bank Regulation, More Non-Bank Lending

Mary Chen, Seung Jung Lee, Daniel Neuhann and Farzad Saidi

2023-025: Implications of Student Loan COVID-19 Pandemic Relief Measures for Families with Children

Sarena Goodman, Simona Hannon, Adam Isen and Alvaro Mezza

2023-024: The Role of Property Assessment Oversight in School Finance Inequality

Alex Combs and Erin Troland

2023-023: Workplace Automation and Corporate Liquidity Policy

Jessie Jiaxu Wang

2023-022: The Role of Wages in Trend Inflation: Back to the 1980s?

Michael Kiley

2023-021: Stressed Banks? Evidence from the Largest-Ever Supervisory Review

Puriya Abbassi, Rajkamal Iyer, José-Luis Peydró and Paul E. Soto

2023-020: It's Not Who You Know—It's Who Knows You: Employee Social Capital and Firm Performance

DuckKi Cho, Lyungmae Choi and Jessie Jiaxu Wang

2023-019: The Long-Run Real Effects of Banking Crises: Firm-Level Investment Dynamics and the Role of Wage Rigidity

Carlo Wix

2023-018: Private Equity and Debt Contract Enforcement: Evidence from Covenant Violations

Sharjil M. Haque and Anya V. Kleymenova

2023-017: Racial Unemployment Gaps and the Disparate Impact of the Inflation Tax

Mohammed Ait Lahcen, Garth Baughman and Hugo van Buggenum

2023-016: Contagion in Debt and Collateral Markets

Jin-Wook Chang and Grace Chuan

2023-015: Breaks in the Phillips Curve: Evidence from Panel Data

Jonathan H. Wright

2023-014: Bank Relationships and the Geography of PPP Lending

David P. Glancy

2023-013: Household, Bank, and Insurer Exposure to Miami Hurricanes: a flow-of-risk analysis

Benjamin Dennis

2023-012: Early Joiners and Startup Performance

Joonkyu Choi, Nathan Goldschlag, John Haltiwanger and J. Daniel Kim

2023-011: Using U.S. Business Registry Data to Corroborate Corporate Identity: Case Study of the Legal Entity Identifier

William F. Treacy

2023-010: IT Shields: Technology Adoption and Economic Resilience during the COVID-19 Pandemic

Myrto Oikonomou, Nicola Pierri and Yannick Timmer

2023-009: Does Private Equity Over-Lever Portfolio Companies?

Sharjil M. Haque

2023-008: Recession Signals and Business Cycle Dynamics: Tying the Pieces Together

Michael Kiley

2023-007: Who Pays For Your Rewards? Redistribution in the Credit Card Market

Sumit Agarwal, Andrea Presbitero, André F. Silva and Carlo Wix

2023-006: Monetary Policy and Home Buying Inequality

Daniel R. Ringo

2023-005: Beyond "Horizontal" and "Vertical": The Welfare Effects of Complex Integration

Margaret Loudermilk, Gloria Sheu and Charles Taragin

2023-004: Earnings Business Cycles: The Covid Recession, Recovery, and Policy Response

Jeff Larrimore, Jacob Mortenson and David Splinter

2023-003: The Information Value of Past Losses in Operational Risk

Filippo Curti and Marco Migueis

2023-002: Welfare and Spending Effects of Consumption Stimulus Policies

Christopher Carroll, Edmund Crawley and Håkon Tretvoll

2023-001: Bad News, Good News: Coverage and Response Asymmetries

Luca Gambetti

2022-086: Equilibrium Yield Curves with Imperfect Information

Hiroatsu Tanaka

2022-085: How sensitive is the economy to large interest rate increases? Evidence from the taper tantrum

Nitish R. Sinha and Michael Smolyansky

2022-084: The Monetization of Innovation

Missaka Warusawitharana and Francesca Zucchi

2022-083: Understanding Uncertainty Shocks and the Role of Black Swans

Laura Veldkamp

2022-082: On Monetary Policy, Model Uncertainty, and Credibility

Anna Orlik

2022-081: "The Great Retirement Boom": The Pandemic-Era Surge in Retirements and Implications for Future Labor Force Participation

Joshua Montes and Christopher L. Smith

2022-080: Demand Shocks, Hysteresis and Monetary Policy

Jae Sim

2022-079: How Large is the Output Cost of Disinflation?

Robert Tetlow

2022-078: Choices and Implications when Measuring the Local Supply of Prescription Opioids

David Cho, Alvaro Mezza and Joshua Montes

2022-077: Sentiment in Bank Examination Reports and Bank Outcomes

Maureen Cowhey, Seung Jung Lee, Thomas Popeck Spiller and Cindy M. Vojtech

2022-076: The Macroeconomic Implications of CBDC: A Review of the Literature

Sebastian Infante, Kyungmin Kim, André F. Silva and Robert J. Tetlow

2022-075: How Can Asset Prices Value Exchange Rate Wedges?

Karen K. Lewis and Edith Liu

2022-074: These Caps Spilleth Over: Equilibrium Effects of Unemployment Insurance

Cynthia L. Doniger

2022-073: Do Sustainable Investment Strategies Hedge Climate Change Risks? Evidence from Germany's Carbon Tax

Juan Ochoa, Matthias Paustian and Laura Wilcox

2022-072: The Welfare Effects of Bank Liquidity and Capital Requirements

Skander Van den Heuvel

2022-071: Demand Segmentation in the Federal Funds Market

Manjola Tase

2022-070: Considerations regarding the use of the discount window to support economic activity through a funding for lending program

Mark Carlson and Rebecca Zarutskie

2022-069: Losing insurance and psychiatric hospitalizations

Johanna Catherine Maclean, Daniel Tello-Trillo and Douglas Webber

2022-068: Climate Change and the Role of Regulatory Capital: A Stylized Framework for Policy Assessment

Michael Holscher, David Ignell, Morgan Lewis and Kevin Stiroh

2022-067: How Much Does Racial Bias Affect Mortgage Lending? Evidence from Human and Algorithmic Credit Decisions

Neil Bhutta, Aurel Hizmo and Daniel R. Ringo

2022-066: Climate Change and Double Materiality in a Micro- and Macroprudential Context

Kevin Stiroh

2022-065: Effects of Monetary Policy on Household Expectations: The Role of Homeownership

Hie Joo Ahn and Choongryul Yang

2022-064: Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies

Sangmin Oh, Ishita Sen and Ana-Maria Tenekedjieva

2022-063: The FOMC's Committee on the Directive: Behind Volcker's New Operating Procedures

Nicholas A. Burk and David H. Small

2022-062: Consumers and Guaranteed Asset Protection (GAP Protection) on Vehicle Financing Contracts: A First Look

Thomas A. Durkin, Gregory E. Elliehausen and Thomas W. Miller, Jr.

2022-061: Beliefs, Aggregate Risk, and the U.S. Housing Boom

Margaret Jacobson

2022-060: Bank Deposit Flows to Money Market Funds and ON RRP Usage during Monetary Policy Tightening

Manjola Tase and Andrei Zlate

2022-059: The Rise of Nonbanks and the Quality of Financial Services: Evidence from Consumer Complaints

Ahmet Degerli and Jing Wang

2022-058: The Financial Stability Implications of Digital Assets

Garth Baughman, Francesca Carapella, David E. Rappoport, Chiara Scotti, Nathan Swem and Alexandros Vardoulakis

2022-057: Decentralized Finance (DeFi): Transformative Potential & Associated Risks

Francesca Carapella and Nathan Swem

2022-056: Climate Change and Adaptation in Global Supply-Chain Networks

Nora Pankratz and Christoph M. Schiller

2022-055: Cash-Hedged Stock Returns

Chase P. Ross and Landon J. Ross

2022-054: Inflation Measured Every Day Keeps Adverse Responses Away: Temporal Aggregation and Monetary Policy Transmission

Margaret Jacobson, Christian Matthes and Todd B. Walker

2022-053: LINVER: The Linear Version of FRB/US

Flint Brayton and David L. Reifschneider

2022-052: Information Externalities, Funding Liquidity, and Fire Sales

Levent Altinoglu and Jin-Wook Chang

2022-051: Pre-Positioning and Cross-Border Financial Intermediation

Nicholas K. Tabor and Jeffery Y. Zhang

2022-050: Loan Modifications and the Commercial Real Estate Market

David Glancy, Robert Kurtzman and Lara Loewenstein

2022-049: Labor Market Tightness during WWI and the Postwar Recession of 1920-1921

Haelim Anderson and Jin-Wook Chang

2022-048: Climate Change and Financial Policy: A Literature Review

Benjamin Dennis