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.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

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 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 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

2023-033r1: Optimal Bidder Selection in Clearing House Default Auctions

Rodney Garratt, David Murphy, Travis Nesmith and Xiaopeng Wu

2023-032r1: Recovery of 1933

Margaret Jacobson, Eric 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 Cordoba, 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 Meldrum and Oleg Sokolinskiy

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

Pablo Guerron, 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 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, Jose-Luis Peydro 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 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 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 Wright

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

David 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 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 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

2022-086r1: 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 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, Anna Orlik, André Silva and Robert Tetlow

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

Karen Lewis and Edith Liu

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

Cynthia 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 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.

2022-061r1: 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 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 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

2022-047: Does Giving CRA Credit for Loan Purchases Increase Mortgage Credit in Low-to-Moderate Income Communities?

Kenneth Brevoort

2022-046: The Collateral Premium and Levered Safe-Asset Production

Chase Ross

2022-045: Renewable Technology Adoption Costs and Economic Growth

Bernardino Adao, Borghan Nezami Narajabad and Ted Loch Temzelides

2022-044: Restoring confidence in troubled financial institutions after a financial crisis

Charles Calomiris and Mark Carlson

2022-043: Climate-related Financial Stability Risks for the United States: Methods and Applications

Celso Brunetti, John Caramichael, Matteo Crosignani, Benjamin Dennis, Gurubala Kotta, Donald Morgan, Chaehee Shin and Ilknur Zer

2022-042: Integrating Prediction and Attribution to Classify News

Nelson P. Rayl and Nitish R. Sinha

2022-041: Volatility in Home Sales and Prices: Supply or Demand?

Elliot Anenberg and Daniel R. Ringo

2022-040r1: Cost of Banking for LMI and Minority Communities

Marco Migueis, Michael Suher and Jessie Xu

2022-039: Liquidity in the Mortgage Market: How does the COVID-19 Crisis Compare with the Global Financial Crisis?

Karen Pence

2022-038: The Digital Economy and Productivity

David Byrne

2022-037: How Did It Happen?: The Great Inflation of the 1970s and Lessons for Today

Edward Nelson

2022-036: Social Externalities of Bank Enforcement Actions: The Case of Minority Lending

Byeongchan An, Robert M. Bushman, Anya V. Kleymenova and Rimmy Tomy

2022-035: The Vaccine Boost: Quantifying the Impact of the COVID-19 Vaccine Rollout on Measures of Activity

Ashley Sexton and Maria D. Tito

2022-034: The transmission of financial shocks and leverage of financial institutions: An endogenous regime switching framework

Kirstin Hubrich and Daniel Waggoner

2022-033: Bubbles and Stagnation

Inês Xavier

2022-032: Retail CBDC and U.S. Monetary Policy Implementation: A Stylized Balance Sheet Analysis

Matthew Malloy, Francis Martinez, Mary-Frances Styczynski and Alex Thorp

2022-031: Central Bank Communication about Climate Change

David Arseneau, Alejandro Drexler and Mitsuhiro Osada

2022-030: Financial Repercussions of SNAP Work Requirements

Samuel Dodini, Jeff Larrimore and Anna Tranfaglia

2022-029: The Anatomy of Single-Digit Inflation in the 1960s

Jeremy B. Rudd

2022-028: Who Killed the Phillips Curve? A Murder Mystery

David Ratner and Jae Sim