Working Paper Series

From Federal Reserve Bank of Chicago
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2023: Consumption, Wealth, and Income Inequality: A Tale of Tails

Alexandre Gaillard, Christian Hellwig, Philipp Wangner and Nicolas Werquin

2023: Robots, Tools, and Jobs: Evidence from Brazilian Labor Markets

Gustavo de Souza and Haishi Li

2023: What Do Lead Banks Learn from Leveraged Loan Investors?

Max Bruche, Ralf R. Meisenzahl and David Xiaoyu Xu

2023: Medicaid-ing Uninsurance? The Impact of the Affordable Care Act’s Medicaid Expansion on Uninsurance Spells

Bradley Heim, Elena Patel and Shanthi Ramnath

2023: The Role of Information in Pharmaceutical Advertising: Theory and Evidence

Kelli Marquardt and Conor Ryan

2023: Immigration and the Labor Market in the Post-Pandemic Recovery

Kristin Butcher, Lucas Cain, Camilo Garcia-Jimeno and Ryan Perry

2023: R&D Subsidy and Import Substitution: Growing in the Shadow of Protection

Gustavo de Souza

2023: The Shifting Reasons for Beveridge-Curve Shifts

Gadi Barlevy, Jason Faberman, Bart Hobijn and Aysegul Sahin

2023: The Chicago Fed DSGE Model: Version 2

Jeffrey Campbell, Filippo Ferroni, Jonas Fisher and Leonardo Melosi

2023: Charged and Almost Ready—What Is Holding Back the Resale Market for Battery Electric Vehicles?

Scott Brave, Thomas Klier and Leslie McGranahan

2023: The Lasting Impact of Historical Residential Security Maps on Experienced Segregation

Daniel Aaronson, Daniel Hartley and Bhashkar Mazumder

2023: Forecasted Treatment Effects

Irene Botosaru, Raffaella Giacomini and Martin Weidner

2023: Identification Using Higher-Order Moments Restrictions

Philippe Andrade, Filippo Ferroni and Leonardo Melosi

2023: A Robust Method for Microforecasting and Estimation of Random Effects

Raffaella Giacomini, Sokbae (Simon) Lee and Silvia Sarpietro

2023: Are Friends of Schools the Enemies of Equity? The Interplay of Public School Funding Policies and Private External Fundraising

Lisa Barrow, Sarah Komisarow and Lauren Sartain

2023: Nonbank Lenders as Global Shock Absorbers: Evidence from US Monetary Policy Spillovers

David Elliott, Ralf R. Meisenzahl and Jose-Luis Peydro

2023: A Comment on Monetary Policy and Rational Asset Price Bubbles

Franklin Allen, Gadi Barlevy and Douglas Gale

2023: The “Privatization” of Municipal Debt

Ivan T. Ivanov and Tom Zimmermann

2023: Preferences over the Racial Composition of Neighborhoods: Estimates and Implications

Morris Davis, Jesse Gregory and Daniel Hartley

2023: Learning Monetary Policy Strategies at the Effective Lower Bound with Sudden Surprises

Spencer Krane, Leonardo Melosi and Matthias Rottner

2023: Retail Investors’ Contrarian Behavior Around News, Attention, and the Momentum Effect

Enrichetta Ravina

2023: What does the CDS market imply for a U.S. default?

Luca Benzoni, Christian Cabanilla, Alessandro Cocco and Cullen Kavoussi

2023: The Dual U.S. Labor Market Uncovered

Hie Joo Ahn, Bart Hobijn and Aysegul Sahin

2023: Overborrowing, Underborrowing, and Macroprudential Policy

Fernando Arce, Julien Bengui and Javier Bianchi

2023: International Diversification, Reallocation, and the Labor Share

Joel David, Romain Ranciere and David Zeke

2023: One Asset Does Not Fit All: Inflation Hedging by Index and Horizon

Stefania D'Amico and Thomas King

2023: Bank Branch Access: Evidence from Geolocation Data

Jung Sakong and Alexander Zentefis

2023: Financial Crises and the Global Supply Network: Evidence from Multinational Enterprises

Sergi Basco, Giulia Felice, Bruno Merlevede and Martí Mestieri

2023: Women's Colleges and Economics Major Choice: Evidence from Wellesley College Applicants

Kristin Butcher, Patrick McEwan and Akila Weerapana

2023: Who Cares? Paid Sick Leave Mandates, Care-Giving, and Gender

Tanya Byker, Elena Patel and Shanthi Ramnath

2023: How Climate Change Shapes Bank Lending: Evidence from Portfolio Reallocation

Ralf R. Meisenzahl

2023: The Labor Market Impact of Covid-19 on Asian Americans

Chris de Mena, Suvy Qin and Jing Zhang

2023: What Determines State Heterogeneity in Response to U.S. Tariff Changes

Ana Maria Santacreu, Michael Sposi and Jing Zhang

2023: The Effects of Prescription Drug Monitoring Programs on Labor Market Activity and Credit Outcomes

Bhashkar Mazumder

2023: The Covid-19 Pandemic Spurred Growth in Automation: What Does this Mean for Minority Workers?

Anthony Barr, Darlene Booth-Bell, Kristen Broady and Ryan Perry

2023: Pushing Bonds Over the Edge: Monetary Policy and Municipal Bond Liquidity

John Bagley, Stefan Gissler and Ivan T. Ivanov

2023: Job-to-Job Mobility and Inflation

Renato Faccini and Leonardo Melosi

2023: Blockbusting and the Challenges Faced by Black Families in Building Wealth Through Housing in the Postwar United States

Daniel Hartley and Jonathan Rose

2023: Gas Guns and Governments: Financial Costs of Anti-ESG Policies

Daniel Garrett and Ivan T. Ivanov

2023: Societal Disruptions and Child Mental Health: Evidence from ADHD Diagnosis During the Covid-19 Pandemic

Seth Freedman, Kelli Marquardt, Dario Salcedo, Kosali Simon and Coady Wing

2022: Debt Dynamics with Fixed Issuance Costs

Luca Benzoni, Lorenzo Garlappi, Robert S. Goldstein and Chao Ying

2022: "Missing" Workers and "Missing" Jobs Since the Pandemic

Bart Hobijn and Aysegul Sahin

2022: Making the (Letter) Grade: The Incentive Effects of Mandatory Pass/Fail Courses

Kristin Butcher, Patrick McEwan and Akila Weerapana

2022: The Expanding Landscape of Online Education: Who Engages and How They Fare

Lisa Barrow, Wesley Morris and Lauren Sartain

2022: The Selection Effects of Part-Time Work: Experimental Evidence from a Large-Scale Recruitment Drive

Hyuncheol Bryant Kim, Hyunseob Kim and John Zhu

2022: Set it and Forget it? Financing Retirement in an Age of Defaults

Lucas Goodman, Anita Mukherjee and Shanthi Ramnath

2022: It's Good Weather for More Government: The Effect of Weather on Fiscal Policy

Gustavo de Souza

2022: (Trade) War and Peace: How to Impose International Trade Sanctions

Gustavo de Souza, Naiyuan Hu, Haishi Li and Yuan Mei

2022: The Employment Consequences of Anti-Dumping Tariffs: Lessons from Brazil

Gustavo de Souza and Haishi Li

2022: On Political and Economic Determinants of Redistribution: Economic Gains, Ideological Gains, or Institutions?

Gustavo de Souza

2022: Who is Afraid of Eurobonds?

Francesco Bianchi, Leonardo Melosi and Anna Rogantini Picco

2022: Credit Misallocation and Macro Dynamics with Oligopolistic Financial Intermediaries

Alessandro Villa

2022: Usual Shocks in our Usual Models

Filippo Ferroni, Jonas Fisher and Leonardo Melosi

2022: The Labor Market Consequences of Appropriate Technology

Gustavo de Souza

2022: The Signaling Effects of Fiscal Announcements

Leonardo Melosi and Francesco Zanetti

2022: Interest Spreads and Margins in Collateral Equilibrium with Heterogeneous Beliefs

Robert Barsky, Avery Bogus and Matthew Easton

2022: On Speculative Frenzies and Stabilization Policy

Gadi Barlevy

2022: Seven Economic Facts About the U.S. Racial Wealth Gap

Darlene Booth-Bell, Kristen Broady and Taylor Griffin

2022: Simultaneity in Binary Outcome Models with an Application to Employment for Couples

Bo E. Honore, Luojia Hu, Aikaterini Kyriazidou and Martin Weidner

2022: Should the government sell you goods? Evidence from the milk market in Mexico

Diego Jimenez-Hernandez and Enrique Seira Bejarano

2022: Optimal Unemployment Insurance Requirements

Gustavo de Souza and André Victor Doherty Luduvice

2022: The Evolution of Technological Substitution in Low-Wage Labor Markets

Daniel Aaronson and Brian J. Phelan

2022: Heterogeneous Impacts of Sentencing Decisions

Andrew Jordan, Ezra Karger and Derek Neal

2022: Has the Willingness to Work Fallen During the Pandemic?

Jason Faberman, Andreas Mueller and Aysegul Sahin

2022: The Decline in Intergenerational Mobility After 1980

Jonathan Davis and Bhashkar Mazumder

2022: Levered Returns and Capital Structure Imbalances

Filippo Ippolito and Alessandro Villa

2022: A Fair Day's Pay for a Fair Day's Work: Optimal Tax Design as Redistributional Arbitrage

Christian Hellwig and Nicolas Werquin

2022: New Evidence on Redlining by Federal Housing Programs in the 1930s

Price Fishback, Jonathan Rose, Kenneth A. Snowden and Thomas Storrs

2022: Inflation as a Fiscal Limit

Francesco Bianchi and Leonardo Melosi