Working Papers

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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

05-4: Pricing, production, and persistence

Michael Dotsey and Robert King

05-3: Can the standard international business cycle model explain the relation between trade and comovement?

Ayhan Kose and Kei-Mu Yi

05-2: Implications of state-dependent pricing for dynamic macroeconomic models

Michael Dotsey and Robert King

05-1: Schooling and the AFQT: evidence from school entry laws

Elizabeth Cascio and Ethan Lewis

04-24: Financial intermediaries, markets, and growth

Falko Fecht, Kevin Huang and Antoine Martin

04-23: Vacancy persistence

Shigeru Fujita

04-22: Hedonic estimates of the cost of housing services: rental and owner-occupied units

Theodore M. Crone, Leonard Nakamura and Richard Voith

04-21: On the stability of employment growth: a postwar view from the U.S. states

Gerald Carlino, Robert H. DeFina and Keith Sill

04-20: Transactions accounts and loan monitoring

Loretta Mester, Leonard Nakamura and Micheline Renault

04-19: Violating purchasing power parity

George Alessandria and Joseph Kaboski

04-18: Trade and the (dis)incentive to reform labor markets: the case of reform in the European Union

George Alessandria and Alain Delacroix

04-17: The CPI for rents: a case of understated inflation

Theodore M. Crone, Leonard Nakamura and Richard Voith

04-16: Matching and learning in cities: urban density and the rate of invention

Gerald Carlino, Satyajit Chatterjee and Robert Hunt

04-15: Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics

Aubhik Khan and Julia Thomas

04-14: Bankruptcy exemptions, credit history, and the mortgage market

Souphala Chomsisengphet and Ronel Elul

04-13: Modeling inventories over the business cycle

Aubhik Khan and Julia Thomas

04-12: A redefinition of economic regions in the U.S

Theodore M. Crone

04-11: Inventories and the business cycle: an equilibrium analysis of (S,s) policies

Aubhik Khan and Julia Thomas

04-10: Life insurance and household consumption

Jay Hong and José-Víctor Ríos-Rull

04-9: Consistent economic indexes for the 50 states

Alan Clayton-Matthews and Theodore M. Crone

04-8: Multiple stages of processing and the quantity anomaly in international business cycle models

Kevin Huang and Zheng Liu

04-7: Specific factors meet intermediate inputs: implications for strategic complementarities and persistence

Kevin Huang