Working Paper

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14-03: Stepping Stone and Option Value in a Model of Postsecondary Education

Nicholas Trachter

14-02: Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation

Thomas Lubik and Christian Matthes

14-01: Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data

Olivier Coibion, Yuriy Gorodnichenko, Marianna Kudlyak and John Mondragon

13-19: mREITs and their risks

Sabrina Pellerin, Steven Sabol and John Walter

13-18: The credibility of exchange rate pegs and bank distress in historical perspective: lessons from the national banking era

Scott Fulford and Felipe Schwartzman

13-17: State dependent monetary policy

Francesco Lippi, Stefania Ragni and Nicholas Trachter

13-16: The shifting and twisting Beveridge curve: an aggregate perspective

Thomas Lubik

13-15: Learning about fiscal policy and the effects of policy uncertainty

Josef Hollmayr and Christian Matthes

13-14: The impact of regional and sectoral productivity changes on the U.S. economy

Lorenzo Caliendo, Fernando Parro, Esteban Rossi-Hansberg and Pierre Daniel Sarte

13-13: Heterogeneity in labor supply elasticity and optimal taxation

Marios Karabarbounis

13-12: The time-varying Beveridge curve

Luca Benati and Thomas Lubik

13-11: Productivity insurance: the role of unemployment benefits in a multi-sector model

David Fuller, Marianna Kudlyak and Damba Lkhagvasuren

13-10: Internet banking: an exploration in technology diffusion and impact

Richard Sullivan and Zhu Wang

13-09: Are young borrowers bad borrowers? Evidence from the Credit CARD Act of 2009

Peter Debbaut, Andra Ghent and Marianna Kudlyak

13-08: Sudden stops, time inconsistency, and the duration of sovereign debt

Juan Hatchondo and Leonardo Martinez

13-07: ECB monetary policy in the recession: a New Keynesian (old monetarist) critique

Robert L. Hetzel

13-06: Demand externalitites and price cap regulation: Learning from a two-sided market

Zhu Wang

13-05: Market-based incentives

Borys Grochulski and Yuzhe Zhang

13-04: Competitors, complementors, parents and places: Explaining regional agglomeration in the U.S. auto industry

Luis Cabral, Zhu Wang and Daniel Yi Xu

13-03: Banker compensation and bank risk taking: the organizational economics view

Arantxa Jarque and Edward Prescott

13-02: The supply of college-educated workers: the roles of college premia, college costs, and risk

Kartik Athreya and Janice Eberly

13-01: International reserves and rollover risk

Javier Bianchi, Juan Hatchondo and Leonardo Martinez

12-09: Selection and monetary non-neutrality in time-dependent pricing models

Carlos Carvalho and Felipe Schwartzman

12-08: Ad-valorem platform fees and efficient price discrimination

Zhu Wang and Julian Wright

12-07: Accounting for unemployment: the long and short of it

Andreas Hornstein

12-06: The economics of two-sided payment card markets: pricing, adoption and usage

James McAndrews and Zhu Wang

12-05: Large excess reserves in the U.S.: a view from the cross-section of banks

Huberto Ennis and Alexander Wolman

12-04: Accounting for unemployment in the Great Recession: nonparticipation matters

Marianna Kudlyak and Felipe Schwartzman

12-03: Sorting by skill over the course of job search

Marianna Kudlyak, Damba Lkhagvasuren and Roman Sysuyev

12-02: Sales, inventories, and real interest rates: a century of stylized facts

Luca Benati and Thomas Lubik

12-01: Fiscal rules and the sovereign default premium

Juan Hatchondo, Leonardo Martinez and Francisco Roch

11-09: Loan loss reserves, accounting constraints, and bank ownership structure

Eliana Balla and Morgan Rose

11-08: Deep habits in the New Keynesian Phillips curve

Thomas Lubik and Wing Leong Teo

11-07: Contingent capital: the trigger problem

Edward Prescott

11-06: Loan guarantees for consumer credit markets

Kartik Athreya, Xuan Tam and Eric Young

11-05: Mortgage defaults

Juan Hatchondo, Leonardo Martinez and Juan Sanchez

11-04: Transition dynamics in the neoclassical growth model: the case of South Korea

Yongsung Chang and Andreas Hornstein

11-03: Discretionary monetary policy in the Calvo model

Willem Van Zandweghe and Alexander Wolman

11-02: Aggregate labor market dynamics in Hong Kong

Thomas Lubik

11-01: An experimental analysis of contingent capital triggering mechanisms

Douglas Davis, Oleg Korenok and Edward Prescott

10-16: Optimal bonuses and deferred pay for bank employees: implications of hidden actions with persistent effects in time

Arantxa Jarque and Edward Prescott

10-15: Time to produce and emerging market crises

Felipe Schwartzman

10-14: On the optimality of Ramsey taxes in Mirrlees economies

Borys Grochulski

10-13: The cyclical price of labor when wages are smoothed

Marianna Kudlyak

10-12: On-the-job search and the cyclical dynamics of the labor market

Michael Krause and Thomas Lubik

10-11: The role of non-owner-occupied homes in the current housing and foreclosure cycle

Breck L. Robinson and Richard M. Todd

10-10: Housing default: theory works and so does policy

Allen C. Goodman and Brent C. Smith

10-09: Learning about informational rigidities from sectoral data and diffusion indices

Pierre Daniel Sarte

10-08: Debt dilution and sovereign default risk

Juan Hatchondo and Leonardo Martinez

10-07: Over-the-counter loans, adverse selection, and stigma in the interbank market

Huberto Ennis and John Weinberg