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.

2017-037: Monetary Policy and the Predictability of Nominal Exchange Rates

Martin Eichenbaum, Benjamin K. Johannsen and Sergio Rebelo

2017-036r1: Reputation and Investor Activism: A Structural Approach

Travis L. Johnson and Nathan Swem

2017-035: The Household Expenditure Response to a Consumption Tax Rate Increase

David B. Cashin

2017-034: An Empirical Economic Assessment of the Costs and Benefits of Bank Capital in the US

Simon Firestone, Amy Lorenc and Ben Ranish

2017-033: Private and Public Liquidity Provision in Over-the-Counter Markets

David Arseneau, David E. Rappoport and Alexandros Vardoulakis

2017-032: On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment

Sarena Goodman, Alice Henriques Volz and Alvaro Mezza

2017-031: Are Central Cities Poor and Non-White?

Arturo Gonzalez, Jeff Larrimore, Ellen A. Merry, Barbara J. Robles and Jenny Schuetz

2017-030r1: How Would US Banks Fare in a Negative Interest Rate Environment?

David Arseneau

2017-029: Estimating the Competitive Effects of Common Ownership

Jacob P. Gramlich and Serafin J. Grundl

2017-028: The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models

Shaowen Luo and Daniel Villar Vallenas

2017-027: Looking Inside the Magic 8 Ball: An Analysis of Sales Forecasts using Italian Firm-Level Data

Maria D. Tito

2017-026: The Transmission of Monetary Policy through Bank Lending: The Floating Rate Channel

Filippo Ippolito, Ali Ozdagli and Ander Pérez-Orive

2017-025: Precautionary On-the-Job Search over the Business Cycle

Hie Joo Ahn and Ling Shao

2017-024: A Likelihood-Based Comparison of Macro Asset Pricing Models

Andrew Chen, Rebecca Wasyk and Fabian Winkler

2017-023: Information in Financial Markets: Who Gets It First?

Nathan Swem

2017-022: Going Entrepreneurial? IPOs and New Firm Creation

Tania Babina, Paige P. Ouimet and Rebecca Zarutskie

2017-021: Are Basel's Capital Surcharges for Global Systemically Important Banks Too Small?

Wayne Passmore and Alexander H. von Hafften

2017-020: Gauging the Uncertainty of the Economic Outlook Using Historical Forecasting Errors: The Federal Reserve's Approach

David L. Reifschneider and Peter Tulip

2017-019: Declining Dynamism, Allocative Efficiency, and the Productivity Slowdown

Ryan Decker, John Haltiwanger, Ron Jarmin and Javier Miranda

2017-018: Macroeconomic Forecasting in Times of Crises

Pablo Guerron and Molin Zhong

2017-017: Lining Up: Survey and Administrative Data Estimates of Wealth Concentration

Arthur B. Kennickell

2017-016: ICT Asset Prices: Marshaling Evidence into New Measures

David Byrne and Carol Corrado

2017-015: ICT Services and their Prices: What do they tell us about Productivity and Technology?

David Byrne and Carol Corrado

2017-014: Firm Networks and Asset Returns

Carlos Ramírez

2017-013: To Build or to Buy? The Role of Local Information in Credit Market Development

Teng Wang

2017-012: Does Knowledge Protection Benefit Shareholders? Evidence from Stock Market Reaction and Firm Investment in Knowledge Assets

Buhui Qiu and Teng Wang

2017-011: The (Unintended?) Consequences of the Largest Liquidity Injection Ever

Matteo Crosignani, Miguel Faria-e-Castro and Luís Fonseca

2017-010: Minimum Wages and Consumer Credit: Impacts on Access to Credit and Traditional and High-Cost Borrowing

Lisa Dettling and Joanne Hsu

2017-009: Capital Misallocation and Secular Stagnation

Andrea Caggese and Ander Pérez-Orive

2017-008: Credit Scores, Social Capital, and Stock Market Participation

Jesse Bricker and Geng Li

2017-007: Managing Stigma during a Financial Crisis

Sriya Anbil

2017-006: Heaping at Round Numbers on Financial Questions: The Role of Satisficing

Michael Gideon, Brooke Helppie-McFall and Joanne Hsu

2017-005: How Fast are Semiconductor Prices Falling?

David Byrne, Stephen Oliner and Daniel Sichel

2017-004: A Unified Framework for Dimension Reduction in Forecasting

Alessandro Barbarino and Efstathia Bura

2017-003: Bond Market Intermediation and the Role of Repo

Yesol Huh and Sebastian Infante

2017-002: Household Incomes in Tax Data: Using Addresses to Move from Tax Unit to Household Income Distributions

Jeff Larrimore, Jacob Mortenson and David Splinter

2017-001: The Currency Dimension of the Bank Lending Channel in International Monetary Transmission

Elod Takats and Judit Temesvary

2016-104: Forecast Combination for Euro Area Inflation - A Cure in Times of Crisis?

Kirstin Hubrich and Frauke Skudelny

2016-103: Identity, Identification and Identifiers: The Global Legal Entity Identifier System

Arthur B. Kennickell

2016-102: The Volcker Rule and Market-Making in Times of Stress

Jack Bao, Maureen O'Hara and Xing Zhou

2016-101: The Effect of Banks' Financial Position on Credit Growth: Evidence from OECD Countries

David E. Rappoport

2016-100: Does Hedging with Derivatives Reduce the Market's Perception of Credit Risk?

Sriya Anbil, Alessio Saretto and Heather Tookes

2016-099: When Can Trend-Cycle Decompositions Be Trusted?

Manuel González-Astudillo and John Roberts

2016-098: The Effects of Mortgage Credit Availability: Evidence from Minimum Credit Score Lending Rules

Steven Laufer and Andrew D. Paciorek

2016-097: Options, Equity Risks, and the Value of Capital Structure Adjustments

Paul Borochin and Jie Yang

2016-096: Monetary Policy Implementation and Private Repo Displacement: Evidence from the Overnight Reverse Repurchase Facility

Alyssa G. Anderson and John Kandrac

2016-095: Distributed Ledger Technology in Payments, Clearing, and Settlement

Anton Badev, Maria Baird, Timothy Brezinski, Clinton Chen, Max Ellithorpe, Linda Fahy, Vanessa Kargenian, Kimberley Liao, Brendan Malone, Jeffrey C. Marquardt, David Mills, Wendy Ng, Anjana Ravi and Kathy Wang

2016-094: Trade Liberalization and Mortality: Evidence from U.S. Counties

Justin Pierce and Peter Schott

2016-093: Learning from History: Volatility and Financial Crises

Jon Danielsson, Marcela Valenzuela and Ilknur Zer

2016-092: Gradualism and Liquidity Traps

Taisuke Nakata and Sebastian Schmidt

2016-091: Institutional Herding and Its Price Impact: Evidence from the Corporate Bond Market

Fang Cai, Song Han, Dan Li and Yi Li

2016-090: The Effects of Liquidity Regulation on Bank Demand in Monetary Policy Operations

Marcelo Rezende, Mary-Frances Styczynski and Cindy M. Vojtech

2016-089: Exploring Online and Offline Informal Work: Findings from the Enterprising and Informal Work Activities (EIWA) Survey

Marysol McGee and Barbara J. Robles

2016-088: The Effects of Institutional Investor Objectives on Firm Valuation and Governance

Paul Borochin and Jie Yang

2016-087: Counterparty Risk and Counterparty Choice in the Credit Default Swap Market

Wenxin Du, Salil Gadgil, Michael Gordy and Clara Vega

2016-086: Earnings Management and Corporate Investment Decisions

Brandon Julio and Youngsuk Yook

2016-085: Equilibrium Yield Curves and the Interest Rate Lower Bound

Taisuke Nakata and Hiroatsu Tanaka

2016-084: Effects of Changing Monetary and Regulatory Policy on Overnight Money Markets

Elizabeth Klee, Zeynep Senyuz and Emre Yoldas

2016-083: Closed-Form Estimation of Finite-Order ARCH Models: Asymptotic Theory and Finite-Sample Performance

Todd Prono

2016-082: Evidence for the Effects of Mergers on Market Power and Efficiency

Bruce Blonigen and Justin Pierce

2016-081: Do Mortgage Subsidies Help or Hurt Borrowers?

David E. Rappoport

2016-080: Understanding the New Normal: The Role of Demographics

Etienne Gagnon, Benjamin K. Johannsen and David Lopez-Salido

2016-079: Reserve Balances, the Federal Funds Market and Arbitrage in the New Regulatory Framework

Ayelen Banegas and Manjola Tase

2016-078: Non-Linear Phillips Curves with Inflation Regime-Switching

Jeremy J. Nalewaik

2016-077: Near-Money Premiums, Monetary Policy, and the Integration of Money Markets: Lessons from Deregulation

Mark Carlson and David Wheelock

2016-076: Measuring the Informativeness of Market Statistics

Kyungmin Kim

2016-075: Search, Matching and Training

Christopher Flinn, Ahu Gemici and Steven Laufer

2016-074: Endogenous Debt Maturity and Rollover Risk

Emanuele Brancati and Marco Macchiavelli

2016-073: Measuring the Natural Rate of Interest: International Trends and Determinants

Kathryn Holston, Thomas Laubach and John Williams

2016-072: Tempered Particle Filtering

Edward Herbst and Frank Schorfheide

2016-071: Mutual Fund Flows, Monetary Policy and Financial Stability

Ayelen Banegas, Gabriel Montes-Rojas and Lucas Siga

2016-070: Benchmarking Operational Risk Models

Filippo Curti, Ibrahim Ergen, Minh Le, Marco Migueis and Rob T. Stewart

2016-069: The Bank as Grim Reaper: Debt Composition and Bankruptcy Thresholds

Mark Carey and Michael Gordy

2016-068: Gauging the Ability of the FOMC to Respond to Future Recessions

David L. Reifschneider

2016-067: Financial Stability and Optimal Interest-Rate Policy

Andrea Ajello, Thomas Laubach, David Lopez-Salido and Taisuke Nakata

2016-066: Sectoral Dynamics and Business Cycles

Manjola Tase

2016-065: Accurate Evaluation of Expected Shortfall for Linear Portfolios with Elliptically Distributed Risk Factors

Dobrislav Dobrev, Travis Nesmith and Dong Hwan Oh

2016-064: Trading Relationships in the OTC Market for Secured Claims: Evidence from Triparty Repos

Song Han and Kleopatra Nikolaou

2016-063r1: The Role of Observed and Unobserved Heterogeneity in the Duration of Unemployment Spells

Hie Joo Ahn

2016-062: International Aspects of Central Banking: Diplomacy and Coordination

Robert B. Kahn and Ellen Meade

2016-061: The Risk-Adjusted Monetary Policy Rule

Taisuke Nakata and Sebastian Schmidt

2016-060: The Political Origin of Home Bias: The Case of Europe

Filippo De Marco and Marco Macchiavelli

2016-059: Did the Founding of the Federal Reserve Affect the Vulnerability of the Interbank System to Systemic Risk?

Mark Carlson and David Wheelock

2016-058: Does Anyone Listen when Politicians Talk? The Effect of Political Commentaries on Policy Rate Decisions and Expectations

Selva Demiralp, Sharmila King and Chiara Scotti

2016-057: Bank Capital Regulations Around the World: What Explains the Differences?

Gazi Kara

2016-056: For Better and for Worse? Effects of Access to High-Cost Consumer Credit

Christine L. Dobridge

2016-055: Financial Vulnerabilities, Macroeconomic Dynamics, and Monetary Policy

David Aikman, Andreas Lehnert, J. Nellie Liang and Michele Modugno

2016-054: Optimal Unemployment Insurance and International Risk Sharing

Stéphane Moyen, Nikolai Stähler and Fabian Winkler

2016-053: Labor Force Transitions at Older Ages: Burnout, Recovery, and Reverse Retirement

Lindsay Jacobs and Suphanit Piyapromdee

2016-052: Funding Liquidity Risk and the Cross-section of MBS Returns

Yuriy Kitsul and Juan Ochoa

2016-051: Occupational Choice, Retirement, and the Effects of Disability Insurance

Lindsay Jacobs

2016-050: Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

Nathan Foley-Fisher, Borghan Nezami Narajabad and Stephane Verani

2016-049: Monetary Policy, Real Activity, and Credit Spreads: Evidence from Bayesian Proxy SVARs

Dario Caldara and Edward Herbst

2016-048: News versus Sentiment: Predicting Stock Returns from News Stories

Steven Heston and Nitish R. Sinha

2016-047: Why are Inventory-Sales Ratios at U.S. Auto Dealerships so High?

Wendy E. Dunn and Daniel J. Vine

2016-046: Do Rising Top Incomes Lead to Increased Borrowing in the Rest of the Distribution?

Jeffrey Thompson

2016-045: Accounting for Productivity Dispersion over the Business Cycle

Robert Kurtzman and David Zeke

2016-044: Nowcasting Turkish GDP and News Decomposition

Michele Modugno, Barış Soybilgen and Ege Yazgan

2016-043: Firm Entry and Macroeconomic Dynamics: A State-level Analysis

Francois Gourio, Todd Messer and Michael Siemer

2016-042: Credit Default Swaps in General Equilibrium: Spillovers, Credit Spreads, and Endogenous Default

Matthew Darst and Ehraz Refayet