Working Papers

From Federal Reserve Bank of Philadelphia
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07-4: Capital and macroeconomic instability in a discrete-time model with forward-looking interest rate rules

Kevin Huang and Qinglai Meng

07-3: Overconfidence in financial markets and consumption over the life cycle

Frank Caliendo and Kevin Huang

07-2: Reassessing the Shimer facts

Shigeru Fujita and Garey Ramey

07-1: Inflation and interest rates with endogenous market segmentation

Aubhik Khan and Julia Thomas

06-22: Immigration and the neighborhood

Albert Saiz and Susan Wachter

06-21: Owning versus leasing: do courts matter?

Pablo Casas-Arce and Albert Saiz

06-20: A quantitative assessment of the role of agglomeration economies in the spatial concentration of U.S. employment

Satyajit Chatterjee

06-19: An evaluation of inflation forecasts from surveys using real-time data

Dean Croushore

06-18: On the aggregate welfare cost of Great Depression unemployment

Satyajit Chatterjee and P. Dean Corbae

06-17: The cyclicality of job loss and hiring

Shigeru Fujita and Garey Ramey

06-16: A tale of two states: Maharashtra and West Bengal

Amartya Lahiri and Kei-Mu Yi

06-15: Capitalization of the quality of local public schools: what do home buyers value?

Theodore M. Crone

06-14: Urban density and the rate of invention

Gerald Carlino, Satyajit Chatterjee and Robert Hunt

06-13: Job matching and propagation

Shigeru Fugita and Garey Ramey

06-12: Monetary and financial forces in the Great Depression

Satyajit Chatterjee and P. Dean Corbae

06-11: National income accounts

Leonard Nakamura

06-10: Labor supply and personal computer adoption

Mark Doms and Ethan Lewis

06-9: Nontraded goods, market segmentation, and exchange rates

Michael Dotsey and Margarida Duarte

06-8: A Phillips curve with an Ss foundation

Mark Gertler and John Leahy

06-7: The CPI for rents: a case of understated inflation

Theodore M. Crone, Leonard Nakamura and Richard Voith

06-6: When do more patents reduce R&D?

Robert Hunt

06-5: Bayesian analysis of DSGE models

Sungbae An and Frank Schorfheide

06-4: Monetary policy analysis with potentially misspecified models

Marco Del Negro and Frank Schorfheide

06-3: Non-stationary hours in a DSGE model

Yongsung Chang, Taeyoung Doh and Frank Schorfheide

06-2: Predatory lending in rational world

Philip Bond, David K. Musto and Bilge Yilmaz

06-1: Macroeconomic volatility and the equity premium

Keith Sill

05-29: Potential competitive effects on U.S. bank credit card lending from the proposed bifurcated application of Basel II

William Lang, Loretta Mester and Todd A. Vermilyea

05-28: The effect of transaction pricing on the adoption of electronic payments: a cross-country comparison

Wilko Bolt, David B. Humphrey and Roland Uittenbogaard

05-27: Courts and contractual innovation: a preliminary analysis

Mitchell Berlin and Yaron Leitner

05-26: Risk-adjusted performance measures at bank holding companies with section 20 subsidiaries

Victoria Geyfman

05-25: A portfolio view of consumer credit

David K. Musto and Nicholas Souleles

05-24: Vertical specialization and the border effect puzzle

Kei-Mu Yi

05-23: Collateral, credit history, and the financial decelerator

Ronel Elul

05-22: The dynamic Beveridge curve

Shigeru Fujita and Garey Ramey

05-21: Special purpose vehicles and securitization

Gary Gorton and Nicholas Souleles

05-20: Do sunk costs of exporting matter for net export dynamics?

George Alessandria and Horag Choi

05-19: Resolving the puzzle of the underissuance of national bank notes

Charles Calomiris and Joseph R. Mason

05-17: Banks in the securities business: market-based risk implications of section 20 subsidiaries

Victoria Geyfman

05-16: Switching costs and adverse selection in the market for credit cards: new evidence

Paul S. Calem, Michael Gordy and Loretta Mester

05-15: Vertical production and trade interdependence and welfare

Kevin Huang and Zheng Liu

05-14: Transactions accounts and loan monitoring

Loretta Mester and Leonard Nakamura

05-13: A century of consumer credit reporting in America

Robert Hunt

05-12: A theory of an intermediary with nonexclusive contracting

Yaron Leitner

05-11: Advertising, intangible assets, and unpriced entertainment

Leonard Nakamura

05-10: Owner-occupied housing as a hedge against rent risk

Todd Sinai and Nicholas Souleles

05-9: Consumer search, price dispersion, and international relative price volatility

George Alessandria

05-8: Immigration, skill mix, and the choice of technique

Ethan Lewis

05-7: The life-cycle effects of house price changes

Wenli Li and Rui Yao

05-6: Benchmark revisions and the U.S. personal saving rate

Leonard Nakamura and Tom Stark

05-5: Do technological improvements in the manufacturing sector raise or lower employment?

Yongsung Chang and Jay Hong