Working Papers

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2006-041: Robust non-parametric quantile estimation of efficiency and productivity change in U.S. commercial banking, 1985-2004

David Wheelock and Paul Wilson

2006-040: Worldwide macroeconomic stability and monetary policy rules

James Bullard and Aarti Singh

2006-039: Neighborhood income inequality

Elizabeth A. La Jeunesse and Christopher Wheeler

2006-038: Monetary policy, determinacy, and learnability in a two-block world economy

James Bullard and Eric Schaling

2006-037: Urban decentralization and income inequality: Is sprawl associated with rising income segregation across neighborhoods?

Christopher Wheeler

2006-036: The relation between time-series and cross-sectional effects of idiosyncratic variance on stock returns in G7 countries

Hui Guo and Robert Savickas

2006-035: Inflation risk and optimal monetary policy

William Gavin, Benjamin Keen and Michael Pakko

2006-034: Why do analysts continue to provide favorable coverage for seasoned stocks?

Massimo Guidolin and Simona Mola

2006-033: Central bank intervention with limited arbitrage

Christopher Neely and Paul A. Weller

2006-032: Endogenous volatility, endogenous growth, and large welfare gains from stabilization policies

Pengfei Wang and Yi Wen

2006-031: Central bank intervention and exchange rate volatility, its continuous and jump components

Michel Beine, Jerome Lahaye, Sébastien Laurent, Christopher Neely and Franz Palm

2006-030: U.K. inflation targeting and the exchange rate

Christopher Allsopp, Amit Kara and Edward Nelson

2006-029: What tames the Celtic tiger? portfolio implications from a multivariate Markov switching model

Massimo Guidolin and Stuart Hyde

2006-028: Investing for the long-run in European real estate

Carolina Fugazza, Massimo Guidolin and Giovanna Nicodano

2006-027: The duration of foreclosures in the subprime mortgage market: a competing risks model with mixing

Anthony Pennington-Cross

2006-026: Spatial hedonic models of airport noise, proximity, and housing prices

Jeffrey Cohen and Cletus Coughlin

2006-025: The price puzzle and indeterminacy in an estimated DSGE model

Anatoliy Belaygorod and Michael Dueker

2006-024: Loan servicer heterogeneity and the termination of subprime mortgages

Giang Ho and Anthony Pennington-Cross

2006-023: Subprime refinancing: equity extraction and mortgage termination

Souphala Chomsisengphet and Anthony Pennington-Cross

2006-022: Predatory lending laws and the cost of credit

Giang Ho and Anthony Pennington-Cross

2006-021: The determinants of aid in the post-cold war era

Subhayu Bandyopadhyay and Howard Wall

2006-020: The daily liquidity effect

Daniel Thornton

2006-019: Understanding stock return predictability

Hui Guo and Robert Savickas

2006-018: War and pestilence as labor market shocks: manufacturing wage growth 1914-1919

Thomas Garrett

2006-017: Imperfect competition and indeterminacy of aggregate output

Pengfei Wang and Yi Wen

2006-016: Ireland and Switzerland: the jagged edges of the Great Inflation

Edward Nelson

2006-015: Imperfect competition and sunspots

Pengfei Wang and Yi Wen

2006-014: Why people choose negative expected return assets - an empirical examination of a utility theoretic explanation

Nalinaksha Bhattacharyya and Thomas Garrett

2006-013: Inflation: do expectations trump the gap?

Jeremy Piger and Robert Rasche

2006-011: Demand shocks and economic fluctuations

Yi Wen

2006-010: Monetary and fiscal theories of the price level: the irreconcilable differences

Bennett McCallum and Edward Nelson

2006-009: The impact of local predatory lending laws on the flow of subprime credit

Giang Ho and Anthony Pennington-Cross

2006-008: Evaluating state tax revenue variability: a portfolio approach

Thomas Garrett

2006-007: Equity market volatility and expected risk premium

Long Chen, Hui Guo and Lu Zhang

2006-006: Investigating the intertemporal risk-return relation in international stock markets with the component GARCH model

Hui Guo and Christopher Neely

2006-005: Beyond the numbers: an analysis of optimistic and pessimistic language in earnings press releases

Angela K. Davis, Jeremy Piger and Lisa M. Sedor

2006-004: Aggregate shocks and labor market fluctuations

Helge Braun, Reinout De Bock and Riccardo DiCecio

2006-003: Solving linear difference systems with lagged expectations by a method of undetermined coefficients

Pengfei Wang and Yi Wen

2006-002: Regional VARs and the channels of monetary policy

Michael Owyang and Howard Wall

2006-001: Spatial dependence in models of state fiscal policy convergence

Cletus Coughlin, Thomas Garrett and Ruben Hernandez-Murillo

2005-076: Inflation dynamics: a cross-country investigation

Pengfei Wang and Yi Wen

2005-075: Small caps in international equity portfolios: the effects of variance risk

Massimo Guidolin and Giovanna Nicodano

2005-074: Policy evaluation in the presence of outsourcing: global competitiveness versus political feasibility

Subhayu Bandyopadhyay and Howard Wall

2005-073: Market timing with aggregate and idiosyncratic stock volatilities

Hui Guo and Jason Higbee

2005-072: Information and drug prices: evidence from the Medicare discount drug card program

Emin Dinlersoz, Ruben Hernandez-Murillo, Han Li and Roger Sherman

2005-071: The practice boundaries of advanced practice nurses: an economic and legal analysis

Michael Dueker, Ada K. Jacox, David Kalist and Stephen Spurr

2005-070: Information shares in the U.S. treasury market

Bruce Mizrach and Christopher Neely

2005-069: Ethnic networks and U.S. exports

Subhayu Bandyopadhyay, Cletus Coughlin and Howard Wall

2005-068: Heterogeneous firms, productivity and poverty traps

Levon Barseghyan and Riccardo DiCecio

2005-067: Productivity measurement and monetary policymaking during the 1990s

Richard Anderson and Kevin Kliesen