Staff Reports

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290: Has the credit derivatives swap market lowered the cost of corporate debt?

Adam Ashcraft and Joao Santos

289: Extracting business cycle fluctuations: what do time series filters really do?

Arturo Estrella

288: Generalized canonical regression

Arturo Estrella

287: A framework for identifying the sources of local currency price stability with an empirical application

Pinelopi Goldberg and Rebecca Hellerstein

286: Inflation persistence: alternative interpretations and policy implications

Argia Sbordone

285: A flexible approach to parametric inference in nonlinear time series models

Gary Koop and Simon Potter

284: Reserve levels and intraday federal funds rate behavior

R. Spence Hilton and Warren Hrung

283: Why are Switzerland's foreign assets so low? The growing financial exposure of a small open economy

Nicolas Stoffels and Cédric Tille

282: Liquidity-saving mechanisms

Antoine Martin and James McAndrews

281: Why does overnight liquidity cost more than intraday liquidity?

Joydeep Bhattacharya, Joseph Haslag and Antoine Martin

280: International capital flows

Cédric Tille and Eric van Wincoop

279: The Bankruptcy Abuse Prevention and Consumer Protection Act: means-testing or mean spirited?

Adam Ashcraft, Astrid A. Dick and Donald Morgan

278: Monetary policy under sudden stops

Vasco Cúrdia

277: A retrospective look at the U.S. productivity growth resurgence

Mun Ho, Dale Jorgenson and Kevin Stiroh

276: Credit derivatives and bank credit supply

Beverly Hirtle

275: How wages change: micro evidence from the international wage flexibility project

William T. Dickens, Lorenz Goette, Erica Groshen, Steinar Holden, Julian Messina, Mark Schweitzer, Jarkko Turunen and Melanie Ward

274: Commitment and equilibrium bank runs

Huberto Ennis and Todd Keister

273: Defining and detecting predatory lending

Donald Morgan

272: Personal bankruptcy and credit market competition

Astrid A. Dick and Andreas Lehnert

271: Borrowing without debt? Understanding the U.S. international investment position

Matthew Higgins, Thomas Klitgaard and Cédric Tille

270: Trend inflation and inflation persistence in the New Keynesian Phillips curve

Timothy Cogley and Argia Sbordone

269: Disagreement and learning in a dynamic contracting model

Tobias Adrian and Mark Westerfield

268: Would protectionism defuse global imbalances and spur economic activity?: a scenario analysis

Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo Pesenti

267: Deflationary shocks and monetary rules: an open-economy scenario analysis

Douglas Laxton, Papa N'Diaye and Paolo Pesenti

266: Y2K options and the liquidity premium in Treasury bond markets

Suresh Sundaresan and Zhenyu Wang

265: Empirical evaluation of asset pricing models: arbitrage and pricing errors over contingent claims

Zhenyu Wang and Xiaoyan Zhang

264: Was the New Deal contractionary?

Gauti Eggertsson

263: Payment networks in a search model of money

Antoine Martin, Michael Orlando and David Skeie

262: Price discovery in the foreign currency futures and spot market

Joshua Rosenberg and Leah G. Traub

261: Pass-through of exchange rates to consumption prices: what has changed and why

Jose Campa and Linda Goldberg

260: Technology diffusion within central banking: the case of real-time gross settlement

Morten Bech and Bart Hobijn

259: Congestion and cascades in payment systems

Morten Bech, Walter E. Beyeler, Robert J. Glass and Kimmo Soramäki

258: Endogenous productivity and development accounting

Roc Armenter and Amartya Lahiri

257: On the market discipline of informationally opaque firms: evidence from bank borrowers in the federal funds market

Adam Ashcraft and Hoyt Bleakley

256: U.S. wage and price dynamics: a limited information approach

Argia Sbordone

255: The internationalization of the dollar and trade balance adjustment

Linda Goldberg and Cédric Tille

254: Stock returns and volatility: pricing the short-run and long-run components of market risk

Tobias Adrian and Joshua Rosenberg

253: The relationship between expected inflation, disagreement, and uncertainty: evidence from matched point and density forecasts

Robert Rich and Joseph Tracy

252: Visible and hidden risk factors for banks

Til Schuermann and Kevin Stiroh

251: Arm's-length transactions as a source of incomplete cross-border transmission: the case of autos

Rebecca Hellerstein and Sofia Villas-Boas

250: A decomposition of the sources of incomplete cross-border transmission

Rebecca Hellerstein

249: Expectations and contagion in self-fulfilling currency attacks

Todd Keister

248: Three decades of financial sector risk

Joel F. Houston and Kevin Stiroh

247: Distribution margins, imported inputs, and the sensitivity of the CPI to exchange rates

Jose Campa and Linda Goldberg

246: Two-sided markets and intertemporal trade clustering: insights into trading motives

Asani Sarkar and Robert A. Schwartz

245: Volatility accounting: a production perspective on increased economic stability

Kevin Stiroh

244: Does the market discipline banks? New evidence from the regulatory capital mix

Adam Ashcraft

243: The topology of interbank payment flows

Jeffrey Arnold, Morten Bech, Walter E. Beyeler, Robert J. Glass and Kimmo Soramäki

242: Banking with nominal deposits and inside money

David Skeie

241: Fiscal multipliers and policy coordination

Gauti Eggertsson