research staff publications list 2016 - 2017 research staff publications list 2016 - 2017 board of...
Post on 16-Apr-2018
232 Views
Preview:
TRANSCRIPT
1
Research Staff Publications List
2016 - 2017
Board of Governors of the Federal Reserve System
2
3
TABLE OF CONTENTS
BANKING AND FINANCIAL INSTITUTIONS .................................................................................... 4
ECONOMETRICS AND STATISTICS ................................................................................................... 9
ECONOMIC HISTORY ........................................................................................................................... 13
ECONOMIC INCLUSION ....................................................................................................................... 14
FINANCIAL ECONOMICS ..................................................................................................................... 15
FINANCIAL MARKETS ......................................................................................................................... 19
INDUSTRIAL ORGANIZATION .......................................................................................................... 25
INTERNATIONAL ECONOMICS ......................................................................................................... 26
LABOR ECONOMICS ............................................................................................................................. 31
MACROECONOMICS ............................................................................................................................. 33
MICROECONOMICS .............................................................................................................................. 40
MONETARY ECONOMICS ................................................................................................................... 42
MONETARY POLICY ............................................................................................................................ 44
PAYMENT SYSTEMS ............................................................................................................................ 49
PUBLIC ECONOMICS ............................................................................................................................ 49
REAL ESTATE AND URBAN ECONOMICS ...................................................................................... 50
4
BANKING AND FINANCIAL INSTITUTIONS
Adams, Robert M., and Jacob Gramlich (2016). "Where Are All the New Banks? The Role of Regulatory
Burden in New Bank Formation," Review of Industrial Organization, vol. 48, no. 2, pp. 181-208.
Amel, Dean F., and Robin A. Prager (2016). "Community Bank Performance: How Important are
Managers?" Review of Industrial Organization, vol. 48, no. 2, pp. 149-180.
Bao, Jack, Maureen O,Hara, and Xing (Alex) Zhou (forthcoming). "The Volcker Rule and Corporate Bond
Market-Making in Times of Stress," Journal of Financial Economics.
Bassett, William F. (2016). "Using Insured Deposits to Refine Estimates of the Large Bank Funding
Advantage," Journal of Law, Finance, and Accounting, vol. 1, no. 1, pp. 41-91.
Bassett, William F., and W. Blake Marsh (2017). "Assessing Targeted Macroprudential Financial
Regulation: The Case of the 2006 Commercial Real Estate Guidance for Banks," Journal of Financial
Stability, vol. 30, pp. 209-228.
Berrospide, Jose M., Ricardo Correa, Linda S. Goldberg, and Friederike Niepmann (2017). "International
Banking and Cross-Border Effects of Regulation: Lessons from the United States," International Journal
of Central Banking, March, pp. 435-476.
Bhutta, Neil, and Daniel R. Ringo (2016). "Residential Mortgage Lending from 2004 to 2015: Evidence
from the Home Mortgage Disclosure Act Data," Federal Reserve Bulletin, vol. 102, no. 6. Board of
Governors of the Federal Reserve System (U.S.).
Bhutta, Neil, Jacob Goldin, and Tatiana Homonoff (2016). "Consumer Borrowing after Payday Loan
Bans," Journal of Law and Economics, vol. 59, no. 1, pp. 225-259.
Black, Lamont, John Krainer, and Joseph Nichols (2017). "From Origination to Renegotiation: A
Comparison of Portfolio and Securitized Commercial Real Estate Loans," Journal of Real Estate Finance
and Economics, vol. 55, no. 1, pp. 1-31.
Bruche, Max, Frédéric Malherbe, and Ralf R. Meisenzahl (2017). "Pipeline Risk in Leveraged Loan
Syndication," CEPR Discussion Paper, no. 11956. Centre for Economic Policy Research.
Caglio, Cecilia R., Kathleen Weiss Hanley, and Jennifer Marietta-Westberg (2016). "What Does It Take to
List Abroad? The Role of Global Underwriters," Finance and Economics Discussion Series 2016-041.
Board of Governors of the Federal Reserve System (U.S.).
Caglio, Cecilia, Matt Darst, and Eric Parolin (2016). "A Look Under the Hood: How Banks Use Credit
Default Swaps," FEDS Notes 2016-12-22. Board of Governors of the Federal Reserve System (U.S.).
Calem, Paul S., and Robert F. Sarama, Jr. (2017). "Why Mortgage Borrowers Persevere: An Explanation of
First and Second Lien Performance Mismatch," Real Estate Economics, vol. 25, no. 1, pp. 28-74.
Calem, Paul, Ricardo Correa, and Seung Jung Lee (2017). "Prudential Policies and Their Impact on Credit
in the United States," BIS Working Papers, no. 635. Bank of International Settlements.
5
Carlson, Mark A., and Jonathan D. Rose (2016). "Can a Bank Run Be Stopped? Government Guarantees
and the Run on Continental Illinois," Finance and Economics Discussion Series 2016-003. Board of
Governors of the Federal Reserve System (U.S.).
Carlson, Mark, and David C. Wheelock (2016). "Interbank Markets and Banking Crises: New Evidence on
the Establishment and Impact of the Federal Reserve," American Economic Review: Papers and
Proceedings, vol. 106, no. 5, pp. 533-537.
Carlson, Mark, Molly Shatto, and Missaka Warusawitharana (2017). "Matching Banks by Business Model,
Geography and Size: A Dataset," FEDS Notes 2017-08-08. Board of Governors of the Federal Reserve
System (U.S.).
Cerutti, Eugenio, and Stijn Claessens (2017). "The Great Cross-Border Bank Deleveraging: Supply
Constraints and Intra-Group Frictions," Review of Finance, vol. 21, no. 1, pp. 201-36.
Cerutti, Eugenio, Ricardo Correa, Elisabetta Fiorentino, and Esther Segalla (2017). "Changes in Prudential
Policy Instruments---A New Cross-Country Database," International Journal of Central Banking, March,
pp. 477-503.
Chang, Andrew C. (2017). "Banking Consolidation and Small Firm Financing for Research and
Development," Applied Economics, vol. 49, no. 1, pp. 51-65.
Claessens, Stijn, and Neeltje van Horen (2016). "Banking Activity Trends Following the Financial Crisis:
Expansion or Retrenchment?" in Asli Demirgüç-Kunt, Douglas D. Evanoff, and George G. Kaufman eds.,
The Future of Large, Internationally Active Banks, World Scientific Studies in International Economics, vol.
55, pp. 125-142.
Claessens, Stijn, and Neeltje van Horen (2016). "The Role of Foreign Banks in Local Credit Booms," in Asli
Demirgüç-Kunt, Douglas D. Evanoff, and George G. Kaufman, eds., The Future of Large, Internationally
Active Banks. World Scientific Studies in International Economics, vol. 55, pp. 273-292.
Correia, Sergio (2016). "Essays on Banking Competition," Ph.D. dissertation, Duke University.
Crosignani, Matteo (2017). "Why Are Banks Not Recapitalized During Crises?" Finance and Economics
Discussion Series 2017-084. Board of Governors of the Federal Reserve System (U.S.).
Curti, Filippo, Ibrahim Ergen, Minh Le, Marco Migueis, and Robert Stewart (2016). "Benchmarking
Operational Risk Models," Finance and Economics Discussion Series 2016-070. Board of Governors of
the Federal Reserve System (U.S.).
De Marco, Filippo, and Marco Macchiavelli (2016). "The Political Origin of Home Bias: The Case of
Europe," Finance and Economics Discussion Series 2016-060. Board of Governors of the Federal Reserve
System (U.S.).
Dell'Ariccia, Giovanni, Luc Laeven, and Gustavo A. Suarez (2016). "Bank Leverage and Monetary Policy's
Risk-Taking Channel: Evidence from the United States," ECB Working Paper Series 1903. European
Central Bank.
Drechsler, Itamar, Thomas Drechsel, David Marques-Ibanez, and Philipp Schnabl (2016). "Who Borrows
from the Lender of Last Resort?" Journal of Finance, vol. 71, no. 5, pp. 1933-1974.
6
Fang, Hanming, You Suk Kim, and Wenli Li (2016). "The Dynamics of Adjustable-Rate Subprime Mortgage
Default: A Structural Estimation," Working Papers 16-2. Federal Reserve Bank of Philadelphia.
Firestone, Simon, Amy Lorenc, and Ben Ranish (2017). "An Empirical Economic Assessment of the Costs
and Benefits of Bank Capital in the US," Finance and Economics Discussion Series 2017-034. Board of
Governors of the Federal Reserve System (U.S.).
Firestone, Simon, and Marcelo Rezende (2016). "Are Banks' Internal Risk Parameters Consistent?
Evidence from Syndicated Loans," Journal of Financial Services Research, vol. 50, no. 2, pp. 211-242.
Gertler, Mark, Nobuhiro Kiyotaki, and Andrea Prestipino (2016). "Anticipated Banking Panics," American
Economic Review: Papers and Proceedings, vol. 106, no. 5, pp. 554-559.
Gissler, Stefan, Jeremy Oldfather, and Doriana Ruffino (2016). "Lending on Hold: Regulatory Uncertainty
and Bank Lending Standards," Journal of Monetary Economics, vol. 81, pp. 89-101.
Glancy, David P. (2016). "Essays on Local Banking Markets and the Capital Crunch during the Great
Recession," Ph.D. dissertation, Brown University.
Hancock, Diana, and Wayne Passmore (2016). "Cost of Funds Indexed Mortgage Contracts with
Government-Backed Catastrophic Insurance (COFI-Cats): A Realistic Alternative to the 30-Year Fixed-
Rate Mortgage?" Journal of Economics and Business, vol. 84, pp. 109-130.
Hancock, Diana, and Wayne Passmore (2016). "Macroprudential Mortgage-Backed Securitization: Can it
Work?" in Wachter, Susan M., and Joseph Tracy, eds., Principles of Housing Finance Reform,
(Philadelphia: University of Pennsylvania Press), pp. 68-103.
Hannon, Simona M., Kevin B. Moore, Irina Stefanescu, and Max Schmeiser (2016). "Saving for College
and Section 529 Plans," FEDS Notes 2016-02-03. Board of Governors of the Federal Reserve System
(U.S.).
Heitfield, Erik, Gary Richardson, and Shirley Wang (2017). "Contagion During the Initial Banking Panic of
the Great Depression," NBER Working Paper, no. 23629. National Bureau of Economic Research, Inc.
Iercosan, Diana, Ashish Kumbhat, Michael Ng, and Jason Wu (2017). "Trading Activities at Systemically
Important Banks, Part 2: What Happened during Recent Risk Events?" FEDS Notes 2017-07-10. Board of
Governors of the Federal Reserve System (U.S.).
Iercosan, Diana, Ashish Kumbhat, Michael Ng, and Jason Wu (2017). "Trading Activities at Systemically
Important Banks, Part 3: What Drives Trading Performance?" FEDS Notes 2017-07-10. Board of
Governors of the Federal Reserve System (U.S.).
Ihrig, Jane, Edward Kim, Ashish Kumbhat, Cindy Vojtech, and Gretchen C. Weinbach (2017). "How Have
Banks Been Managing the Composition of High-Quality Liquid Assets?" Finance and Economics
Discussion Series 2017-092. Board of Governors of the Federal Reserve System (U.S.).
Inanoglu, Hulusi, Michael Jacobs Jr., Junrong Liu, and Robin Sickles (2016). "Analyzing Bank Efficiency:
Are 'Too-Big-To-Fail' Banks Efficient?" in E. Haven, P. Molyneux, J. Wilson, S. Fedotov, and M. Duygun
(eds.), The Handbook of Post Crisis Financial Modelling, pp. 110-46, Chapter 5, Palgrave Macmillan.
7
Irani, Rustom M., and Ralf R. Meisenzahl (2017). "Loan Sales and Bank Liquidity Management: Evidence
from a U.S. Credit Register," Review of Financial Studies, vol. 30, no. 10, pp. 3455-3501.
Iyer, Rajkamal, and Marco Macchiavelli (2017). "Primary Dealers' Behavior during the 2007-08 Crisis:
Part II, Intermediation and Deleveraging," FEDS Notes 2017-06-28. Board of Governors of the Federal
Reserve System (U.S.).
Kahn, Robert B., and Ellen E. Meade (2016). "International Aspects of Central Banking: Diplomacy and
Coordination," Finance and Economics Discussion Series 2016-062. Board of Governors of the Federal
Reserve System (U.S.).
Kandrac, John, and Bernd Schlusche (2017). "The Effect of Bank Supervision on Risk Taking: Evidence
from a Natural Experiment," Finance and Economics Discussion Series 2017-079. Board of Governors of
the Federal Reserve System (U.S.).
Kara, Gazi Ishak (2016). "Bank Capital Regulations Around the World: What Explains the Differences?"
Finance and Economics Discussion Series 2016-057. Board of Governors of the Federal Reserve System
(U.S.).
Kara, Gazi Ishak, and S. Mehmet Ozsoy (2016). "Bank Regulation Under Fire Sale Externalities," Finance
and Economics Discussion Series 2016-026. Board of Governors of the Federal Reserve System (U.S.).
Kashyap, Anil K., Dimitrios P. Tsomocos, and Alexandros P. Vardoulakis (2017). "Optimal Bank Regulation
in the Presence of Credit and Run Risk," Finance and Economics Discussion Series 2017-097. Board of
Governors of the Federal Reserve System (U.S.).
Kiley, Michael T., and Jae Sim (forthcoming). "Optimal Monetary and Macroprudential Policies: Gains
and Pitfalls in a Model of Financial Intermediation," Journal of Macroeconomics.
Kim, Kyungmin (2017). "A Price-Differentiation Model of the Interbank Market and Its Application to a
Financial Crisis," Finance and Economics Discussion Series 2017-065. Board of Governors of the Federal
Reserve System (U.S.).
Kitsul, Yuriy, and Marcelo Ochoa (2016). "Funding Liquidity Risk and the Cross-section of MBS Returns,"
Finance and Economics Discussion Series 2016-052. Board of Governors of the Federal Reserve System
(U.S.).
Kurtzman, Robert, and David Zeke (2017). "Misallocation Costs of Digging Deeper into the Central Bank
Toolkit," Finance and Economics Discussion Series 2017-076. Board of Governors of the Federal Reserve
System (U.S.).
Lee, Seung Jung, and Viktors Stebunovs (2016). "Bank Capital Pressures, Loan Substitutability, and
Nonfinancial Employment," Journal of Economics and Business, vol. 83, pp. 44-69.
Lee, Seung Jung, Kelly E. Posenau, and Viktors Stebunovs (2017). "The Anatomy of Financial
Vulnerabilities and Crises," International Finance Discussion Papers 1191. Board of Governors of the
Federal Reserve System (U.S.).
Meisenzahl, Ralf R. (2017). "Auto Financing during and after the Great Recession," FEDS Notes 2017-06-
22. Board of Governors of the Federal Reserve System (U.S.).
8
Migueis, Marco (2017). "Forward-looking and Incentive-compatible Operational Risk Capital
Framework," Finance and Economics Discussion Series 2017-087. Board of Governors of the Federal
Reserve System (U.S.).
Morrison, Alan, Michalis Vasios, Mungo Wilson, and Filip Zikes (2017). "Identifying Contagion in a
Banking Network," Staff Working Paper, no. 642. Bank of England.
Niepmann, Friederike (2016). "Banking Across Borders With Heterogeneous Banks," International
Finance Discussion Papers 1177. Board of Governors of the Federal Reserve System (U.S.).
Oldfather, Jeremy, Stefan Gissler, and Doriana Ruffino (2016). "Bank Complexity: Is Size Everything?"
FEDS Notes 2016-07-15. Board of Governors of the Federal Reserve System (U.S.).
Owen, Ann L., and Judit Temesvary (2017). "The Performance Effects of Gender Diversity on Bank
Boards," Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2893189
Paligorova, Teodora, and João A. C. Santos (2016). "Non-Bank Investors and Loan Renegotiations," Staff
Working Paper 2016-60. Bank of Canada.
Paligorova, Teodora, and João A. C. Santos (2017). "Banks' Exposure to Rollover Risk and the Maturity of
Corporate Loans," Review of Finance, vol. 21, no. 4, pp. 1739-1765.
Passmore, Wayne, and Shane M. Sherlund (2016). "FHA, Fannie Mae, Freddie Mac, and the Great
Recession," Finance and Economics Discussion Series 2016-031r1. Board of Governors of the Federal
Reserve System (U.S.).
Rappoport, David E. (2016). "The Effect of Banks' Financial Position on Credit Growth: Evidence from
OECD Countries," Finance and Economics Discussion Series 2016-101. Board of Governors of the Federal
Reserve System (U.S.).
Rezende, Marcelo, Mary-Frances Styczynski, and Cindy M. Vojtech (2016). "The Effects of Liquidity
Regulation on Bank Demand in Monetary Policy Operations," Finance and Economics Discussion Series
2016-090. Board of Governors of the Federal Reserve System (U.S.).
Sharpe, Steven A., and Shane M. Sherlund (2016). "Crowding Out Effects of Refinancing on New
Purchase Mortgages," Review of Industrial Organization, vol. 48, no. 2, pp. 209-239.
Shy, Oz, Rune Stenbacka, and Vladimir Yankov (2016). "Limited Deposit Insurance Coverage and Bank
Competition," Journal of Banking & Finance, vol. 71, pp. 95-108.
Smolyansky, Michael (2016). "Policy Externalities and Banking Integration," Finance and Economics
Discussion Series 2016-008. Board of Governors of the Federal Reserve System (U.S.).
Taká•ts, Előd, and Judit Temesvary (2016). "The Currency Dimension of the Bank Lending Channel in
International Monetary Transmission," BIS Working Papers, no. 600. Bank for International Settlements.
Temesvary, Judit, and Adam Banai (forthcoming). "The Drivers of Foreign Bank Lending in Central and
Eastern Europe: The Roles of Parent, Subsidiary and Host Market Traits," Journal of International Money
and Finance.
9
Temesvary, Judit, and Adam Banai (2017). "The Drivers of Foreign Bank Lending in Central and Eastern
Europe: The Roles of Parent, Subsidiary and Host Market Traits," Journal of International Money and
Finance, vol. 79, pp. 157-173.
Vojtech, Cindy M. (2017). "Post-Crisis Lending by Large Bank Holding Companies," FEDS Notes 2017-07-
06. Board of Governors of the Federal Reserve System (U.S.).
Vojtech, Cindy M., Benjamin S. Kay, and John C. Driscoll (2016). "The Real Consequences of Bank
Mortgage Lending Standards," Working Papers 2016-05. Office of Financial Research.
Wang, Teng (2017). "To Build or to Buy? The Role of Local Information in Credit Market Development,"
Finance and Economics Discussion Series 2017-013. Board of Governors of the Federal Reserve System
(U.S.).
Zakrajšek, Egon (2017). "Comment on the Bank Liabilities Channel," Journal of Monetary Economics, vol.
89, pp. 45-50.
ECONOMETRICS AND STATISTICS
Aikman, David, Michael T. Kiley, Seung Jung Lee, Michael G. Palumbo, and Missaka N. Warusawitharana
(2017). "Mapping Heat in the U.S. Financial System," Journal of Banking & Finance, vol. 81, pp. 36-64.
Amisano, Gianni, and Roberto Savona (2017). "Mutual Funds Dynamics and Economic Predictors,"
Journal of Financial Econometrics, vol. 15, no. 2, pp. 302-330
Arias, Jonas E., Dario Caldara, and Juan F. Rubio-Ramirez (2016). "The Systematic Component of
Monetary Policy in SVARs: An Agnostic Identification Procedure," Working Paper 2016-15. Federal
Reserve Bank of Atlanta.
Banegas, Ayelen (2016). "Predictability of Growth in Emerging Markets: Information in Financial
Aggregates," International Finance Discussion Papers 1174. Board of Governors of the Federal Reserve
System (U.S.).
Barbarino, Alessandro, and Efstathia Bura (2017). "A Unified Framework for Dimension Reduction in
Forecasting," Finance and Economics Discussion Series 2017-004. Board of Governors of the Federal
Reserve System (U.S.).
Barigozzi, Matteo, Marco Lippi, and Matteo Luciani (2016). "Dynamic Factor Models, Cointegration, and
Error Correction Mechanisms," Finance and Economics Discussion Series 2016-018. Board of Governors
of the Federal Reserve System (U.S.).
Barigozzi, Matteo, Marco Lippi, and Matteo Luciani (2016). "Non-Stationary Dynamic Factor Models for
Large Datasets," Finance and Economics Discussion Series 2016-024r. Board of Governors of the Federal
Reserve System (U.S.).
Beck, Guenter, Kirstin Hubrich, and Massimiliano Marcellino (2016). "On the Importance of Sectoral and
Regional Shocks for Price-Setting," Journal of Applied Econometrics, vol. 31, no. 7, pp. 1234-1253.
Beltran, Daniel O., and David Draper (2016). "Estimating Dynamic Macroeconomic Models: How
Informative Are the Data?" International Finance Discussion Papers 1175. Board of Governors of the
Federal Reserve System (U.S.).
10
Bragoli, Daniela, and Michele Modugno (2016). "A Nowcasting Model for Canada: Do U.S. Variables
Matter?" Finance and Economics Discussion Series 2016-036. Board of Governors of the Federal Reserve
System (U.S.).
Bragoli, Daniela, and Michele Modugno (2017). "A Now-Casting Model for Canada: Do U.S. Variables
Matter?" International Journal of Forecasting, vol. 33, no. 4, pp. 786-800.
Bricker, Jesse, and Arthur B. Kennickell (2017). "Shared Understanding and Data Quality in the SCF,"
Statistical Journal of the IAOS, vol. 33, no. 1, pp. 165-174.
Bricker, Jesse, Lisa J. Dettling, Alice Henriques, Joanne W. Hsu, Lindsay Jacobs, Kevin B. Moore, Sarah
Pack, John Sabelhaus, Jeffrey Thompson, and Richard A. Windle (2017). "Changes in U.S. Family Finances
from 2013 to 2016: Evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, vol. 103,
no. 3, pp. 1-41.
Cajner, Tomaz, and David D. Ratner (2016). "A Cautionary Note on the Help Wanted Online Data," FEDS
Notes 2016-06-23. Board of Governors of the Federal Reserve System (U.S.).
Caldara, Dario, and Edward Herbst (2016). "Monetary Policy, Real Activity, and Credit Spreads: Evidence
from Bayesian Proxy SVARs," Finance and Economics Discussion Series 2016-049. Board of Governors of
the Federal Reserve System (U.S.).
Chang, Andrew C., and Phillip Li (2017). "A Preanalysis Plan to Replicate Sixty Economics Research
Papers That Worked Half of the Time," American Economic Review: Papers and Proceedings, vol. 107,
no. 5, pp. 60-64.
Chang, Andrew C., and Phillip Li (forthcoming). "Measurement Error in Macroeconomic Data and
Economics Research: Data Revisions, Gross Domestic Product, and Gross Domestic Income," Economic
Inquiry.
Chang, Andrew C., Phillip Li, and Shawn M. Martin (forthcoming). "Comparing Cross-Country Estimates
of Lorenz Curves Using a Dirichlet Distribution Across Estimators and Datasets," Journal of Applied
Econometrics.
Chauvet, Marcelle, and Zeynep Senyuz (2016). "A Dynamic Factor Model of the Yield Curve Components
as a Predictor of the Economy," International Journal of Forecasting, vol. 32, no. 2, pp. 324-343.
Chen, Andrew Y., Eric C. Engstrom, and Olesya V. Grishchenko (2016). "Has the Inflation Risk Premium
Fallen? Is it Now Negative?" FEDS Notes 2016-04-04. Board of Governors of the Federal Reserve System
(U.S.).
Coroneo, Laura, Domenico Giannone, and Michele Modugno (2016). "Unspanned Macroeconomic
Factors in the Yield Curve," Journal of Business & Economic Statistics, vol. 34, no. 3, pp. 472-485.
D'Agostino, Antonello, Domenico Giannone, Michele Lenza, and Michele Modugno (2016). "Nowcasting
Business Cycles: A Bayesian Approach to Dynamic Heterogeneous Factor Models," in Hillebrand, Eric,
and Siem Jan Koopman eds. Dynamic Factor Models (Advances in Econometrics, Volume 35) Emerald
Group Publishing Limited, pp. 569 - 594.
11
Ericsson, Neil R. (2016). "Eliciting GDP Forecasts from the FOMC's Minutes Around the Financial Crisis,"
International Journal of Forecasting, vol. 32, no. 2, pp. 571-583.
Ericsson, Neil R. (2016). "Predicting Fed Forecasts," IFDP Notes 2016-02-12. Board of Governors of the
Federal Reserve System (U.S.).
Ericsson, Neil R. (2016). "Testing for and Estimating Structural Breaks and Other Nonlinearities in a
Dynamic Monetary Sector," Studies in Nonlinear Dynamics and Econometrics, vol. 20, no. 4, pp. 377-398.
Ericsson, Neil R. (2017). "Economic Forecasting in Theory and Practice: An Interview with David F.
Hendry," International Journal of Forecasting, vol. 33, no. 2, pp. 523-542.
Ericsson, Neil R. (2017). "How Biased Are U.S. Government Forecasts of the Federal Debt?" International
Journal of Forecasting, vol. 33, no. 2, pp. 543-559.
Ericsson, Neil R. (2017). "Interpreting Estimates of Forecast Bias," International Journal of Forecasting,
vol. 33, no. 2, pp. 563-568.
Ericsson, Neil R., David F. Hendry, and Stedman B. Hood (2016) "Milton Friedman as an Empirical
Modeler," in Cord, Robert A., and J. Daniel Hammond, eds., Milton Friedman: Contributions to
Economics and Public Policy, (Oxford University Press), pp. 91-142.
Ericsson, Neil R., David F. Hendry, and Stedman B. Hood (2017). "Milton Friedman and Data
Adjustment," IFDP Notes 2017-05-15. Board of Governors of the Federal Reserve System (U.S.).
Gideon, Michael, Brooke Helppie-McFall, and Joanne W. Hsu (2017). "Heaping at Round Numbers on
Financial Questions: The Role of Satisficing," Survey Research Methods, vol. 11, no. 2, pp. 189-214.
Gilbert, Thomas, Chiara Scotti, Georg Strasser, and Clara Vega (2016). "Is the Intrinsic Value of
Macroeconomic News Announcements Related to Their Asset Price Impact?" ECB Working Paper Series
1882. European Central Bank.
Giraitis, Liudas, George Kapetanios, Anne Wetherilt, and Filip Zikes (2016). "Estimating the Dynamics and
Persistence of Financial Networks, with an Application to the Sterling Money Market," Journal of Applied
Econometrics, vol. 31, no. 1, pp. 58-84.
Gonzalez-Astudillo, Manuel (2017). "GDP Trend-cycle Decompositions Using State-level Data," Finance
and Economics Discussion Series 2017-051. Board of Governors of the Federal Reserve System (U.S.).
Gonzalez-Astudillo, Manuel, and John M. Roberts (2016). "When Can Trend-Cycle Decompositions Be
Trusted?" Finance and Economics Discussion Series 2016-099. Board of Governors of the Federal
Reserve System (U.S.).
Grishchenko, Olesya, Sarah Mouabbi, and Jean-Paul Renne (2017). “Measuring Inflation Anchoring and
Uncertainty: A US and Euro Area Comparison,” Finance and Economics Discussion Series 2017-102.
Board of Governors of the Federal Reserve System (U.S.).
Gruber, Joseph, Andrew McCallum, and Robert Vigfusson (2016). "The Dollar in the U.S. International
Transactions (USIT) Model," IFDP Notes 2016-02-08. Board of Governors of the Federal Reserve System
(U.S.).
12
Herbst, Edward P., and Frank Schorfheide (2016). "Bayesian Estimation of DSGE Models." Princeton, N.J.:
Princeton University Press.
Herbst, Edward, and Frank Schorfheide (2017). "Tempered Particle Filtering," NBER Working Paper, no.
23448. National Bureau of Economic Research, Inc.
Hubrich, Kirstin, and Frauke Skudelny (2017). "Forecast Combination for Euro Area Inflation: A Cure in
Times of Crisis?" Journal of Forecasting, vol. 36, no. 5, pp. 515-540.
Johannsen, Benjamin K., and Elmar Mertens (2016). "A Time Series Model of Interest Rates With the
Effective Lower Bound," Finance and Economics Discussion Series 2016-033. Board of Governors of the
Federal Reserve System (U.S.).
Kennickell, Arthur B. (2016). "Identity, Identification and Identifiers: The Global Legal Entity Identifier
System," Finance and Economics Discussion Series 2016-103. Board of Governors of the Federal Reserve
System (U.S.).
Kurz, Christopher J., and Norman J. Morin (2016). "Annual Data on Investment and Capital Stocks," FEDS
Notes 2016-03-02. Board of Governors of the Federal Reserve System (U.S.).
Malik, Sheheryar, and Andrew Meldrum (2016). "Evaluating the Robustness of UK Term Structure
Decompositions Using Linear Regression Methods," Journal of Banking and Finance, vol. 67, pp. 85-102.
Mertens, Elmar (2016). "Measuring the Level and Uncertainty of Trend Inflation," Review of Economics
and Statistics, vol. 98, no. 5, pp. 950-967.
Nalewaik, Jeremy (2016). "Non-Linear Phillips Curves with Inflation Regime-Switching," Finance and
Economics Discussion Series 2016-078. Board of Governors of the Federal Reserve System (U.S.).
Oh, Dong Hwan, and Andrew J. Patton (2016). "High-Dimensional Copula-Based Distributions with Mixed
Frequency Data," Journal of Econometrics, vol. 193, no. 2, pp. 349-366.
Oh, Dong Hwan, and Andrew J. Patton (2017). "Modeling Dependence in High Dimensions with Factor
Copulas," Journal of Business & Economic Statistics, vol. 35, no. 1, pp. 139-154.
Pfeffer, Fabian T., Robert F. Schoeni, Arthur Kennickell, and Patricia Andreski (2016). "Measuring Wealth
and Wealth Inequality: Comparing Two U.S. Surveys," Journal of Economic and Social Measurement, vol.
41, no. 2, pp. 103-120.
Priebsch, Marcel A. (2017). "A Shadow Rate Model of Intermediate-Term Policy Rate Expectations,"
FEDS Notes 2017-10-04. Board of Governors of the Federal Reserve System (U.S.).
Prono, Todd (2016). "Closed-Form Estimation of Finite-Order ARCH Models: Asymptotic Theory and
Finite-Sample Performance," Finance and Economics Discussion Series 2016-083r. Board of Governors of
the Federal Reserve System (U.S.).
Prono, Todd (2017). "Regular Variation of Popular GARCH Processes Allowing for Distributional
Asymmetry," Finance and Economics Discussion Series 2017-095. Board of Governors of the Federal
Reserve System (U.S.).
13
Sahm, Claudia, and Jason Sockin (2016). "'Limited Attention' and Inflation Expectations of Households,"
FEDS Notes 2016-10-19. Board of Governors of the Federal Reserve System (U.S.).
Shin, Minchul, and Molin Zhong (2016). "A New Approach to Identifying the Real Effects of Uncertainty
Shocks," Finance and Economics Discussion Series 2016-040. Board of Governors of the Federal Reserve
System (U.S.).
Shin, Minchul, and Molin Zhong (2017). "Does Realized Volatility Help Bond Yield Density Prediction?"
International Journal of Forecasting, vol. 33, no. 2, pp. 373-389.
Tito, Maria D. (2017). "Measuring Firm-Level Uncertainty," FEDS Notes 2017-04-07. Board of Governors
of the Federal Reserve System (U.S.).
Zikes, Filip (2017). "Measuring Transaction Costs in the Absence of Timestamps," Finance and Economics
Discussion Series 2017-045. Board of Governors of the Federal Reserve System (U.S.).
Zikes, Filip, and Jozef Barunik (2016). "Semi-parametric Conditional Quantile Models for Financial
Returns and Realized Volatility," Journal of Financial Econometrics, vol. 14, no. 1, pp. 185-226.
Zikes, Filip, Jozef Baruník, and Nikhil Shenai (2017). "Modeling and Forecasting Persistent Financial
Durations," Econometric Reviews, vol. 36, no. 10, pp. 1081-1110.
ECONOMIC HISTORY
Boustan, Leah Platt, Devin Bunten, and Owen Hearey (forthcoming). "Urbanization in the United States,
1800-2000," Oxford Handbook of American Economic History.
Brownlees, Christian, Ben Chabot, Eric Ghysels, and Christopher Kurz (2017). "Back to the Future:
Backtesting Systemic Risk Measures during Historical Bank Runs and the Great Depression," CEPR
Discussion Paper, no. 12178. Centre for Economic Policy Research.
Calomiris, Charles W., and Mark Carlson (2016). "Interbank Networks in the National Banking Era: Their
Purpose and Their Role in the Panic of 1893," BIS Working Papers, no. 535. Bank for International
Settlements.
Carlson, Mark A., and David C. Wheelock (2016). "Navigating Constraints: The Evolution of Federal
Reserve Monetary Policy, 1935-1959," in Bordo, Michael, and Mark Wynne (eds.) The Federal Reserve's
Role in the Global Economy: A Historical Perspective, pp. 50-83. New York: Cambridge University Press.
Carlson, Mark, and David C. Wheelock (2016). "Did the Founding of the Federal Reserve Affect the
Vulnerability of the Interbank System to Systemic Risk?" Finance and Economics Discussion Series 2016-
059. Board of Governors of the Federal Reserve System (U.S.).
Dittmar, Jeremiah E., and Ralf R. Meisenzahl (2016). "State Capacity and Public Goods: Institutional
Change, Human Capital, and Growth in Early Modern Germany," Finance and Economics Discussion
Series 2016-028. Board of Governors of the Federal Reserve System (U.S.).
Dittmar, Jeremiah, and Ralf R. Meisenzahl (2016). "State Capacity and Public Goods: Institutional
Change, Human Capital and Growth in Early Modern Germany," CEP Discussion Paper, no. 1418. Centre
for Economic Performance.
14
Foley-Fisher, Nathan, and Eoin McLaughlin (2016). "Capitalising on the Irish Land Question: Land Reform
and State Banking in Ireland, 1891-1938," Financial History Review, vol. 23, no. 1, pp. 71-109.
Jalil, Andrew J., and Gisela Rua (2016). "Inflation Expectations in the Recovery from the Great
Depression," FEDS Notes 2016-08-30. Board of Governors of the Federal Reserve System (U.S.).
Jalil, Andrew J., and Gisela Rua (2016). "Inflation Expectations and Recovery in Spring 1933,"
Explorations in Economic History, vol. 62, pp. 26-50.
Rua, Gisela, and Sian L. Seldin (2016). "History of the Federal Reserve Board Statistical Releases," FEDS
Notes 2016-03-04. Board of Governors of the Federal Reserve System (U.S.).
ECONOMIC INCLUSION
Ahn, Hie Joo, and James D. Hamilton (2016). "Heterogeneity and Unemployment Dynamics," NBER
Working Paper, no. 22451. National Bureau of Economic Research, Inc.
Autor, David H., Alan Manning, and Christopher L. Smith (2016). "The Contribution of the Minimum
Wage to US Wage Inequality over Three Decades: A Reassessment," American Economic Journal: Applied
Economics, vol. 8, no. 1, pp. 58-99.
Bayer, Amanda, and David Wilcox (2017). "The Unequal Distribution of Economic Education: A Report on
the Race, Ethnicity, and Gender of Economics Majors at US Colleges and Universities," Finance and
Economics Discussion Series 2017-105. Washington: Board of Governors of the Federal Reserve System
(U.S.).
Bricker, Jesse, Alice Henriques, Jacob Krimmel, and John Sabelhaus (2016). "Measuring Income and
Wealth at the Top Using Administrative and Survey Data," Brookings Papers on Economic Activity,
Spring, pp. 261-321.
Dettling, Lisa J., Joanne W. Hsu, Lindsay Jacobs, Kevin B. Moore, and Jeffrey P. Thompson (2017).
"Recent Trends in Wealth-Holding by Race and Ethnicity: Evidence from the Survey of Consumer
Finances," FEDS Notes 2017-09-27. Board of Governors of the Federal Reserve System (U.S.).
Falato, Antonio, and J. Nellie Liang (2016). "Do Creditor Rights Increase Employment Risk? Evidence from
Loan Covenants," Journal of Finance, vol. 71, no. 6, pp. 2545-2590.
Fisher, Jonathan, David Johnson, Jonathan Latner, Timothy Smeeding, and Jeffrey Thompson (2016).
"Inequality and Mobility Using Income, Consumption, and Wealth for the Same Individuals," The Russell
Sage Foundation Journal of the Social Sciences, vol. 2, no. 6, pp. 44-58.
Fisher, Jonathan, David Johnson, Timothy Smeeding, and Jeffrey Thompson (2016). "Inequality in 3D:
Income, Consumption, and Wealth," WCEG Working Paper 2016-09. Washington Center for Equitable
Growth.
Hsu, Joanne W. (2016). "Aging and Strategic Learning: The Impact of Spousal Incentives on Financial
Literacy," Journal of Human Resources, vol. 51, no. 4, pp. 1036-1067.
Ionescu, Felicia, and Nicole B. Simpson (2016). "Default Risk and Private Student Loans: Implications for
Higher Education Policies," Journal of Economic Dynamics and Control, vol. 64, pp. 119-147.
15
Li, Geng, and Brett McCully (2016). "Is Underemployment Underestimated? Evidence from Panel Data,"
FEDS Notes 2016-05-16. Board of Governors of the Federal Reserve System (U.S.).
Robles, Barbara, and Marysol McGee (2016). "Exploring Online and Offline Informal Work: Findings from
the Enterprising and Informal Work Activities (EIWA) Survey," Finance and Economics Discussion Series
2016-089. Board of Governors of the Federal Reserve System (U.S.).
Thompson, Jeffrey (2016). "Do Rising Top Incomes Lead to Increased Borrowing in the Rest of the
Distribution?" Finance and Economics Discussion Series 2016-046. Board of Governors of the Federal
Reserve System (U.S.).
FINANCIAL ECONOMICS
Acolin, Arthur, Jesse Bricker, Paul Calem, and Susan Wachter (2016). "Borrowing Constraints and
Homeownership," American Economic Review: Papers and Proceedings, vol. 106, no. 5, pp. 625-629.
Adrian, Tobias, and Nellie Liang (2016). "Monetary Policy, Financial Conditions, and Financial Stability,"
CEPR Discussion Papers 11394. Centre for Economic Policy Research.
Aikman, David, Andreas Lehnert, Nellie Liang, and Michele Modugno (2016). "Financial Vulnerabilities,
Macroeconomic Dynamics, and Monetary Policy," Finance and Economics Discussion Series 2016-055.
Board of Governors of the Federal Reserve System (U.S.).
Ajello, Andrea (2016). "Financial Intermediation, Investment Dynamics, and Business Cycle
Fluctuations," American Economic Review, vol. 106, no. 8, pp. 2256-2303.
Ali, Robleh, Nick Vause, and Filip Zikes (2016). "Systemic Risk in Derivatives Markets: A Pilot Study Using
CDS Data," Financial Stability Paper 38. Bank of England.
Andersen, Leif, Michael Pykhtin, and Alexander Sokol (2017). "Does Initial Margin Eliminate
Counterparty Risk?" Risk, May 2017, pp. 74-79.
Baker, Steven D., Burton Hollifield, and Emilio Osambela (2016). "Disagreement, Speculation, and
Aggregate Investment," Journal of Financial Economics, vol. 119, no. 1, pp. 210-225.
Baklanova, Viktoria, Cecilia Caglio, Frank Keane, and Burt Porter (2016). "A Pilot Survey of Agent
Securities Lending Activity," Staff Reports 790. Federal Reserve Bank of New York.
Baklanova, Viktoria, Cecilia Caglio, Marco Cipriani, and Adam Copeland (2016). "A New Survey of the
U.S. Bilateral Repo Market: A Snapshot of Broker-Dealer Activity," Staff Reports 758. Federal Reserve
Bank of New York.
Banegas, Ayelen, Gabriel Montes-Rojas, and Lucas Siga (2016). "Mutual Fund Flows, Monetary Policy
and Financial Stability," Finance and Economics Discussion Series 2016-071. Board of Governors of the
Federal Reserve System (U.S.).
Bansal, Ravi, Dana Kiku, and Marcelo Ochoa (2016). "Price of Long-Run Temperature Shifts in Capital
Markets," NBER Working Paper, no. 22529. National Bureau of Economic Research, Inc.
16
Bao, Jack, Maureen O'Hara, and Alex Zhou (2016). "The Volcker Rule and Market-Making in Times of
Stress," Finance and Economics Discussion Series 2016-102. Board of Governors of the Federal Reserve
System (U.S.).
Barras, Laurent, and Aytek Malkhozov (2016). "Does Variance Risk Have Two Prices? Evidence from the
Equity and Option Markets," Journal of Financial Economics, vol. 121, no. 1, pp. 79-92.
Belenzon, Sharon, Andrea Patacconi, and Rebecca Zarutskie (2016). "Married to the Firm? A Large-Scale
Investigation of the Social Context of Ownership," Strategic Management Journal, vol. 37, no. 13, pp.
2611-2638.
Berrospide, Jose M., Lamont K. Black, and William R. Keeton (2016). "The Cross-Market Spillover of
Economic Shocks through Multimarket Banks," Journal of Money, Credit and Banking, vol. 48, no. 5, pp.
957-988.
Blonigen, Bruce A., and Justin R. Pierce (2016). "Evidence for the Effects of Mergers on Market Power
and Efficiency," NBER Working Paper, no. 22750. National Bureau of Economic Research, Inc.
Borochin, Paul, and Jie Yang (2017). "The Effects of Institutional Investor Objectives on Firm Valuation
and Governance," Journal of Financial Economics, vol. 126, no. 1, pp. 171-199.
Brancati, Emanuele, and Marco Macchiavelli (2016). "Endogenous Debt Maturity and Rollover Risk,"
Finance and Economics Discussion Series 2016-074. Board of Governors of the Federal Reserve System
(U.S.).
Caglio, Cecilia, Kathleen Weiss Hanley, and Jennifer Marietta-Westberg (2016). "Going Public Abroad,"
Journal of Corporate Finance, vol. 41, pp. 103-122.
Cai, Fang, Song Han, Dan Li, and Yi Li (2016). "Institutional Herding and Its Price Impact: Evidence from
the Corporate Bond Market," Finance and Economics Discussion Series 2016-091. Board of Governors of
the Federal Reserve System (U.S.).
Calomiris, Charles W., and Mark Carlson (2016). "Corporate Governance and Risk Management at
Unprotected Banks: National Banks in the 1890s," Journal of Financial Economics, vol. 119, no. 3, pp.
512-532.
Carey, Mark, and Michael B. Gordy (2016). "The Bank as Grim Reaper: Debt Composition and Bankruptcy
Thresholds," Finance and Economics Discussion Series 2016-069. Board of Governors of the Federal
Reserve System (U.S.).
Carlson, Mark, Burcu Duygan-Bump, Fabio Natalucci, Bill Nelson, Marcelo Ochoa, Jeremy Stein, and
Skander Van den Heuvel (2016). "The Demand for Short-Term, Safe Assets and Financial Stability: Some
Evidence and Implications for Central Bank Policies," International Journal of Central Banking, vol. 12,
no. 4, pp. 307-333.
Correa, Ricardo, and Ugur Lel (2016). "Say on Pay Laws, Executive Compensation, Pay Slice, and Firm
Valuation Around the World," Journal of Financial Economics, vol. 122, no. 3, pp. 500-520.
17
Correa, Ricardo, Keshav Garud, Juan M. Londono, and Nathan Mislang (2017). "Sentiment in Central
Banks' Financial Stability Reports," International Finance Discussion Papers 1203. Board of Governors of
the Federal Reserve System (U.S.).
Correa, Ricardo, Keshav Garud, Juan-Miguel Londono-Yarce, and Nathan Mislang (2017). "Constructing a
Dictionary for Financial Stability," IFDP Notes 2017-06-28. Board of Governors of the Federal Reserve
System (U.S.).
Costin, Ovidiu, Michael B. Gordy, Min Huang, and Pawel J. Szerszen (2016). "Expectations of Functions of
Stochastic Time with Application to Credit Risk Modeling," Mathematical Finance, vol. 26, no. 4, pp. 748-
784.
Curti, Filippo, and Marco Migueis (2016). "Predicting Operational Loss Exposure Using Past Losses,"
Finance and Economics Discussion Series 2016-002. Board of Governors of the Federal Reserve System
(U.S.).
Danielsson, Jon, Kevin James, Marcela Valenzuela, and Ilknur Zer (2016). "Can We Prove a Bank Guilty of
Creating Systemic Risk? A Minority Report," Journal of Money, Credit, and Banking, vol. 48, no. 4, pp.
795-812.
Danielsson, Jon, Kevin James, Marcela Valenzuela, and Ilknur Zer (2016). "Model Risk of Risk Models,"
Journal of Financial Stability, vol. 23, pp. 79-91.
Decker, Ryan A., John Haltiwanger, Ron S. Jarmin, and Javier Miranda (2016). "Where Has All the
Skewness Gone? The Decline in High-Growth (Young) Firms in the U.S.," European Economic Review, vol.
86, pp. 4-23.
Decker, Ryan A., John Haltiwanger, Ron S. Jarmin, and Javier Miranda (2017). "Declining Dynamism,
Allocative Efficiency, and the Productivity Slowdown," American Economic Review: Papers and
Proceedings, vol. 107, no. 5, pp. 322-326.
Durdu, Bora, Rochelle Edge, and Daniel Schwindt (2017). "Measuring the Severity of Stress-Test
Scenarios," FEDS Notes 2017-05-05. Board of Governors of the Federal Reserve System (U.S.).
Edge, Rochelle, and Andreas Lehnert (2016). "Recent Experience with Supervisory Stress Testing in the
United States," in Anderson, Ronald W. ed., Stress Testing and Macroprudential Regulation: A
Transatlantic Assessment. London: CEPR Press, pp. 31-50.
Falato, Antonio, and David Scharfstein (2016). "The Stock Market and Bank Risk-Taking," NBER Working
Paper, no. 22689. National Bureau of Economic Research, Inc.
Favara, Giovanni, Erwan Morellec, Enrique Schroth, and Philip Valta (2017). "Debt Enforcement,
Investment, and Risk Taking Across Countries," Journal of Financial Economics, vol. 123, no. 1, pp. 22-41.
Foley-Fisher, Nathan, Borghan Narajabad, and Stephane Verani (2016). "Securities Lending as Wholesale
Funding: Evidence from the U.S. Life Insurance Industry," NBER Working Paper, no. 22774. National
Bureau of Economic Research, Inc.
18
Foley-Fisher, Nathan, Rodney Ramcharan, and Edison Yu (2016). "The Impact of Unconventional
Monetary Policy on Firm Financing Constraints: Evidence from the Maturity Extension Program," Journal
of Financial Economics, vol. 122, no. 2, pp. 409-429.
Gu, Li and Dayong Huang (forthcoming). "Money, Substitutions and Stock Returns," Journal of Financial
Research.
Holmquist, Elizabeth, Max Miller, and Youngsuk Yook (2016). "International Portfolio Investment
Holdings of Long-term Securities in the Enhanced Financial Accounts," FEDS Notes 2016-08-05. Board of
Governors of the Federal Reserve System (U.S.).
Ivanov, Ivan T., Joao A. C. Santos, and Thu Vo (2016). "The Transformation of Banking: Tying Loan
Interest Rates to Borrowers' CDS Spreads," Journal of Corporate Finance, vol. 38, pp. 150-165.
Johnson, Travis L., and Nathan Swem (2016). "Reputation and Hedge Fund Activism."
Johnson, Travis L., and Nathan Swem (2017). "Reputation and Investor Activism," Finance and
Economics Discussion Series 2017-036. Board of Governors of the Federal Reserve System (U.S.).
Julio, Brandon, and Youngsuk Yook (2016). "Earnings Management and Corporate Investment
Decisions," Finance and Economics Discussion Series 2016-086. Board of Governors of the Federal
Reserve System (U.S.).
Kay, Benjamin S., and Cindy M. Vojtech (2016). "Corporate Governance Responses to Director Rule
Changes," Journal of Leadership, Accountability and Ethics, vol. 13, no. 1, pp. 49-69.
Kiser, Elizabeth K., Robin A. Prager, and Jason R. Scott (2016). "Supervisory Ratings and Bank Lending to
Small Businesses During the Financial Crisis and Great Recession," Journal of Financial Services Research,
vol. 50, no. 2, pp. 163-186.
Liu, Qi, and Bo Sun (2016). "Managerial Compensation Under Privately-Observed Hedging," International
Finance Discussion Papers 1160. Board of Governors of the Federal Reserve System (U.S.).
Liu, Qi, and Bo Sun (2016). "Relative Wealth Concerns, Executive Compensation, and Systemic Risk-
Taking," International Finance Discussion Papers 1164. Board of Governors of the Federal Reserve
System (U.S.).
Ljungqvist, Alexander, and Michael Smolyansky (2016). "To Cut or Not to Cut? On the Impact of
Corporate Taxes on Employment and Income," Finance and Economics Discussion Series 2016-006.
Board of Governors of the Federal Reserve System (U.S.).
Malamud, Semyon, and Francesca Zucchi (2016). "Liquidity, Innovation, and Endogenous Growth," ECB
Working Paper Series 1919. European Central Bank.
Malkhozov, Aytek, Philippe Mueller, Andrea Vedolin, and Gyuri Venter (2016). "Mortgage Risk and the
Yield Curve," Review of Financial Studies, vol. 29, no. 5, pp. 1220-1253.
Meisenzahl, Ralf (2016). "Can Financing Constraints Explain the Evolution of the Firm Size Distribution?"
Review of Industrial Organization, vol. 48, no. 2, pp. 123-147.
19
Nakata, Taisuke, and Sebastian Schmidt (2016). "Gradualism and Liquidity Traps," Working Paper Series
1976. European Central Bank.
Ogden, Richard E., Damian R. Thomas, and Missaka Warusawitharana (2016). "Corporate Equities by
Issuer in the Financial Accounts of the United States," FEDS Notes 2016-03-29. Board of Governors of
the Federal Reserve System (U.S.).
Qiu, Buhui, and Teng Wang (2017). "Does Knowledge Protection Benefit Shareholders? Evidence from
Stock Market Reaction and Firm Investment in Knowledge Assets," Finance and Economics Discussion
Series 2017-012. Board of Governors of the Federal Reserve System (U.S.).
Rose, Jonathan D. (2016). "The Resolution of a Systemically Important Insurance Company during the
Great Depression," Finance and Economics Discussion Series 2016-005. Board of Governors of the
Federal Reserve System (U.S.).
Stefanescu, Irina, Yupeng Wang, Kangzhen Xie, and Jun Yang (forthcoming). "Pay Me Now (and Later):
Pension Benefit Manipulation before Plan Freezes and Executive Retirement," Journal of Financial
Economics.
von Beschwitz, Bastian (forthcoming). "Cash Windfalls and Acquisitions," Journal of Financial Economics.
von Beschwitz, Bastian, and Conor T. Howells (2016). "Are Euro-Area Corporate Bond Markets
Irrelevant? The Effect of Bond Market Access on Investment," International Finance Discussion Papers
1176. Board of Governors of the Federal Reserve System (U.S.).
von Beschwitz, Bastian, and Daniel Foos (2016). "Banks' Equity Stakes and Lending: Evidence from a Tax
Reform," International Finance Discussion Papers 1183. Board of Governors of the Federal Reserve
System (U.S.).
Warusawitharana, Missaka, and Toni M. Whited (2016). "Equity Market Misvaluation, Financing, and
Investment," Review of Financial Studies, vol. 29, no. 3, pp. 603-654.
FINANCIAL MARKETS
Abruzzo, Nicole and Yang-Ho Park (2016). "An Empirical Analysis of Futures Margin Changes:
Determinants and Policy Implications," Journal of Financial Services Research, vol. 49, no. 1, pp. 65-100.
Akbari, Amir, Francesca Carrieri, and Aytek Malkhozov (2017). "Reversals in Global Market Integration
and Funding Liquidity," International Finance Discussion Papers 1202. Board of Governors of the Federal
Reserve System (U.S.).
Anbil, Sriya, Alessio Saretto, and Heather Tookes (2016). "Does Hedging with Derivatives Reduce the
Market's Perception of Credit Risk?" Finance and Economics Discussion Series 2016-100. Board of
Governors of the Federal Reserve System (U.S.).
Anderson, Alyssa, and Jeffrey Huther (2016). "Modelling Overnight RRP Participation," Finance and
Economics Discussion Series 2016-023. Board of Governors of the Federal Reserve System (U.S.).
Aramonte, Sirio, Mohammad R. Jahan-Parvar, Samuel Rosen, and John W. Schindler (2017). "Firm-
Specific Risk-Neutral Distributions: The Role of CDS Spreads," International Finance Discussion Papers
1212. Board of Governors of the Federal Reserve System (U.S.).
20
Aramonte, Sirio, Samuel Rosen, and John W. Schindler (2017). "Assessing and Combining Financial
Conditions Indexes," International Journal of Central Banking, vol. 13, no. 1, pp. 1-52.
Athreya, Kartik, Felicia Ionescu, and Urvi Neelakantan (2017). "College or the Stock Market, or College
and the Stock Market?" FEDS Notes 2017-01-06. Board of Governors of the Federal Reserve System
(U.S.).
Babina, Tania, Paige Ouimet, and Rebecca Zarutskie (2017). "Going Entrepreneurial? IPOs and New Firm
Creation," Working Papers 17-18. Center for Economic Studies, U.S. Census Bureau.
Baklanova, Viktoria, Cecilia Caglio, Marco Cipriani, and Adam Copeland (2016). "The U.S. Bilateral Repo
Market: Lessons from a New Survey," OFR Brief Series 16-01.
Baklanova, Viktoria, Cecilia Caglio, Marco Cipriani, and Adam Copeland (2017). "The Use of Collateral in
Bilateral Repurchase and Securities Lending Agreements," Staff Reports 758. Federal Reserve Bank of
New York.
Banegas, Ayelen, and Manjola Tase (2016). "Reserve Balances, the Federal Funds Market and Arbitrage
in the New Regulatory Framework," Finance and Economics Discussion Series 2016-079. Board of
Governors of the Federal Reserve System (U.S.).
Bao, Jack, and Kewei Hou (2017). "De Facto Seniority, Credit Risk, and Corporate Bond Prices," Review of
Financial Studies, vol. 30, no. 11, pp. 4038–4080.
Bao, Jack, Kewei Hou, and Shaojun Zhang (2016). "Systemic Default and Return Predictability in the
Stock and Bond Markets," Charles A. Dice Center Working Paper 2016-02. Ohio State University.
Bastos, Paulo, Daniel A. Dias, and Olga A. Timoshenko (2017). "Learning, Prices, and Firm Dynamics,"
International Finance Discussion Papers 1193. Board of Governors of the Federal Reserve System (U.S.).
Bekaert, Geert, and Eric Engstrom (2017). "Asset Return Dynamics under Habits and Bad Environment-
Good Environment Fundamentals," Journal of Political Economy, vol. 125, no. 3, pp. 713-760.
Beltran, Daniel O., Larry Cordell, and Charles P. Thomas (2017). "Asymmetric Information and the Death
of ABS CDOs," Journal of Banking & Finance, vol. 76, pp. 1-14.
Benos, Evangelos, and Filip Zikes (2016). "Liquidity Determinants in the UK Gilt Market," Bank of England
Staff Working Paper no. 600. Bank of England.
Benos, Evangelos, James Brugler, Erik Hjalmarsson, and Filip Zikes (2017). "Interactions among High-
Frequency Traders," Journal of Financial and Quantitative Analysis, vol. 52, no. 4, pp. 1375-1402.
Bhutta, Neil, Jane Dokko, and Hui Shan (forthcoming). "The Depth of Negative Equity and Mortgage
Default Decisions," The Journal of Finance.
Bodenstein, Martin, Gunes Kamber, and Christoph Thoenissen (2017). "Commodity Prices and Labour
Market Dynamics in Small Open Economies," Finance and Economics Discussion Series 2017-039. Board
of Governors of the Federal Reserve System (U.S.).
21
Bonis, Brian, Jane Ihrig, and Min Wei (2017). "Projected Evolution of the SOMA Portfolio and the 10-year
Treasury Term Premium Effect," FEDS Notes 2017-09-22. Board of Governors of the Federal Reserve
System (U.S.).
Borochin, Paul, and Jie Yang (2017). "Options, Equity Risks, and the Value of Capital Structure
Adjustments," Journal of Corporate Finance, vol. 42, pp. 150-178.
Bowman, David, Joshua Louria, Matthew McCormick, and Mary-Frances Styczynski (2017). "The Cleared
Bilateral Repo Market and Proposed Repo Benchmark Rates," FEDS Notes 2017-02-27. Board of
Governors of the Federal Reserve System (U.S.).
Brunetti, Celso, Bahattin Büyükşahin, and Jeffrey H. Harris (2016). "Speculators, Prices, and Market
Volatility," Journal of Financial and Quantitative Analysis, vol. 51, no. 5, pp. 1545-1574.
Caglio, Cecilia, and Stewart Mayhew (2016). "Equity Trading and the Allocation of Market Data
Revenue," Journal of Banking and Finance, vol. 62, pp. 97-777.
Campbell, Sean D., Stefanos Delikouras, Danling Jiang, and George M. Korniotis (2016). "The Human
Capital That Matters: Expected Returns and High-Income Households," Review of Financial Studies, vol.
29, no. 9, pp. 2523-2563.
Cao, Charles, Bing Liang, Andrew W. Lo, and Lubomir Petrasek (forthcoming) "Hedge Fund Holdings and
Stock Market Efficiency," Review of Asset Pricing Studies.
Cao, Charles, Bradley A. Goldie, Bing Liang, and Lubomir Petrasek (2016). "What Is the Nature of Hedge
Fund Manager Skills? Evidence from the Risk-Arbitrage Strategy," Journal of Financial and Quantitative
Analysis, vol. 51, no. 3, pp. 929-957.
Carlstrom, Charles T., Timothy S. Fuerst, and Matthias Paustian (2017). "Targeting Long Rates in a Model
with Segmented Markets," American Economic Journal: Macroeconomics, vol. 9, no. 1, pp. 205-242.
Cashin, David, Erin Syron Ferris, Beth Klee, and Cailey Stevens (2017). "Take it to the Limit: The Debt
Ceiling and Treasury Yields," Finance and Economics Discussion Series 2017-052. Board of Governors of
the Federal Reserve System (U.S.).
Chen, Andrew Y., Rebecca Wasyk, and Fabian Winkler (2017). "A Likelihood-Based Comparison of Macro
Asset Pricing Models," Finance and Economics Discussion Series 2017-024. Board of Governors of the
Federal Reserve System (U.S.).
Chen, Han, James A. Clouse, Jane Ihrig, and Elizabeth Klee (2016). "The Federal Reserve's Tools for Policy
Normalization in a Preferred Habitat Model of Financial Markets," Journal of Money, Credit and Banking,
vol. 48, no. 5, pp. 921-955.
Chordia, Tarun, Amit Goyal, Yoshio Nozawa, Avanidhar Subrahmanyam, and Qing Tong (2017). "Are
Capital Market Anomalies Common to Equity and Corporate Bond Markets? An Empirical Investigation,"
Journal of Financial and Quantitative Analysis, vol. 52, no. 4, pp. 1301-1342.
Claessens, Stijn (2016). "Regulation and Structural Change in Financial Systems," in The Future of the
International Monetary and Financial Architecture. European Central Bank Forum on Central Banking.
22
Coleman, Nicholas, Ricardo Correa, Leo Feler, and Jason Goldrosen (2017). "Internal Liquidity
Management and Local Credit Provision," International Finance Discussion Papers 1204. Board of
Governors of the Federal Reserve System (U.S.).
Culp, Christopher, Yoshio Nozawa, and Pietro Veronesi (forthcoming). "Option-Based Credit Spreads,"
American Economic Review.
D'Amico, Stefania, Roger Fan, and Yuriy Kitsul (forthcoming). "The Scarcity Value of Treasury Collateral:
Repo Market Effects of Security-Specific Supply and Demand Factors," Journal of Financial and
Quantitative Analysis.
Darst, R. Matthew, and Ehraz Refayet (2016). "Credit Default Swaps and Debt Contracts: Spillovers and
Extensive Default Premium Choice," Finance and Economics Discussion Series 2016-042. Board of
Governors of the Federal Reserve System (U.S.).
Darst, R. Matthew, and Ehraz Refayet (2016). "Credit Default Swaps in General Equilibrium: Spillovers,
Credit Spreads, and Endogenous Default," Finance and Economics Discussion Series 2016-042. Board of
Governors of the Federal Reserve System (U.S.).
Darst, R. Matthew, and Ehraz Refayet (2017). "A Collateral Theory of Endogenous Debt Maturity,"
Finance and Economics Discussion Series 2017-057. Board of Governors of the Federal Reserve System
(U.S.).
Datta, Deepa Dhume, Juan M. Londono, and Landon J. Ross (2017). "Generating Options-Implied
Probability Densities to Understand Oil Market Events," Energy Economics, vol. 64, pp. 440-457.
De Pooter, Michiel, Robert F. Martin, and Seth Pruitt (forthcoming). "The Liquidity Effects of Official
Bond Market Intervention," Journal of Financial and Quantitative Analysis.
Dew-Becker, Ian, Stefano Giglio, Anh Le, and Marius Rodriguez (2017). "The Price of Variance Risk,"
Journal of Financial Economics, vol. 123, no. 2, pp. 225-250.
Dmytro, Holod, Yuriy Kitsul, and Gökhan Torna (forthcoming). "Market Risk-based Capital Requirements,
Trading Activity, and Bank Risk," Journal of Banking & Finance.
Dobrev, Dobrislav, and Ernst Schaumburg (2017). "Comment on: Nonparametric Tail Risk, Stock Returns
and the Macroeconomy," Journal of Financial Econometrics, vol. 15, no. 3, pp. 388-409.
Dobrev, Dobrislav, Travis D. Nesmith, and Dong Hwan Oh (2017). "Accurate Evaluation of Expected
Shortfall for Linear Portfolios with Elliptically Distributed Risk Factors," Journal of Risk and Financial
Management, vol. 10, no. 1, pp. 1-14.
Du, Wenxin, Salil Gadgil, Michael B. Gordy, and Clara Vega (2016). "Counterparty Risk and Counterparty
Choice in the Credit Default Swap Market," Finance and Economics Discussion Series 2016-087. Board of
Governors of the Federal Reserve System (U.S.).
Dubin, Eduard, Olesya V. Grishchenko, and Vasily Kartashov (forthcoming). "Habit Formation
Heterogeneity: Implications for Aggregate Asset Pricing," Revue Finance.
Ferris, Erin E. Syron (forthcoming). "Dividend Taxes and Stock Volatility," International Tax and Public
Finance.
23
Feunou, Bruno, Mohammad R. Jahan-Parvar, and Cédric Okou (forthcoming). "Downside Variance Risk
Premium," Journal of Financial Econometrics.
Frei, Christoph, Agostino Capponi, and Celso Brunetti (2017). "Managing Counterparty Risk in OTC
Markets," Finance and Economics Discussion Series 2017-083. Board of Governors of the Federal
Reserve System (U.S.).
Gilbert, Thomas, Chiara Scotti, Georg Strasser, and Clara Vega (2017). "Is the Intrinsic Value of a
Macroeconomic News Announcement Related to its Asset Price Impact?" Journal of Monetary
Economics, vol. 92, pp. 78-95.
Gissler, Stefan (2017). "Lockstep in Liquidity: Common Dealers and Co-movement in Bond Liquidity,"
Journal of Financial Markets, vol. 33, pp. 1-21.
Grishchenko, Olesya V., Joel M. Vanden, and Jianing Zhang (2016). "The Informational Content of the
Embedded Deflation Option in TIPS," Journal of Banking & Finance, vol. 65, pp. 1-26.
Gruber, Joseph W., and Steven B. Kamin (2017). "Corporate Buybacks and Capital Investment: An
International Perspective," IFDP Notes 2017-04-11. Board of Governors of the Federal Reserve System
(U.S.)
Gu, Li, and Dayong Huang (forthcoming). "The Effect of the Growth in Labor Hours per Worker on Future
Stock Returns, Hiring, and Profitability," Review of Finance.
Han, Song, and Hao Zhou (2016). "Effects of Liquidity on the Non-Default Component of Corporate Yield
Spreads: Evidence from Intraday Transactions Data," Quarterly Journal of Finance, vol. 6, no. 3.
Han, Song, and Kleopatra Nikolaou (2016). "Trading Relationships in the OTC Market for Secured Claims:
Evidence from Triparty Repos," Finance and Economics Discussion Series 2016-064. Board of Governors
of the Federal Reserve System (U.S.).
Heston, Steven L., and Nitish R. Sinha (2016). "News versus Sentiment: Predicting Stock Returns from
News Stories," Finance and Economics Discussion Series 2016-048. Board of Governors of the Federal
Reserve System (U.S.).
Hsu, Alex, Francisco Palomino, and Charles Qian (2017). "The Decline in Asset Return Predictability and
Macroeconomic Volatility," Finance and Economics Discussion Series 2017-050. Board of Governors of
the Federal Reserve System (U.S.).
Huh, Yesol, and Sebastian Infante (2017). "Bond Market Intermediation and the Role of Repo," Finance
and Economics Discussion Series 2017-003. Board of Governors of the Federal Reserve System (U.S.).
Infante, Sebastian (2017). "Private Money Creation with Safe Assets and Term Premia," Finance and
Economics Discussion Series 2017-041. Board of Governors of the Federal Reserve System (U.S.).
Iyer, Rajkamal, and Marco Macchiavelli (2017). "The Systemic Nature of Settlement Fails," FEDS Notes
2017-07-03. Board of Governors of the Federal Reserve System (U.S.).
Kedia, Simi, Shivaram Rajgopal, and Xing (Alex) Zhou (2017). "Large Shareholders and Credit Ratings,"
Journal of Financial Economics, vol. 124, no. 3, pp. 632-653.
24
Kim, Kyungmin (2016). "Measuring the Informativeness of Market Statistics," Finance and Economics
Discussion Series 2016-076. Board of Governors of the Federal Reserve System (U.S.).
Kirilenko, Andrei, Albert S. Kyle, Mehrdad Samadi, and Tugkan Tuzun (2017). "The Flash Crash: High
Frequency Trading in an Electronic Market," Journal of Finance, vol. 72, no. 3, pp. 967-998.
Klee, Elizabeth, Zeynep Senyuz, and Emre Yoldas (2016). "Effects of Changing Monetary and Regulatory
Policy on Overnight Money Markets," Finance and Economics Discussion Series 2016-084. Board of
Governors of the Federal Reserve System (U.S.).
Kruttli, Mathias S. (2016). "From Which Consumption-Based Asset Pricing Models Can Investors Profit?
Evidence from Model-Based Priors," Finance and Economics Discussion Series 2016-027r1. Board of
Governors of the Federal Reserve System (U.S.).
Kuchinski, William R., Richard E. Ogden, Damian R. Thomas, and Missaka Warusawitharana (2017).
"Equity Issuance and Retirement by Nonfinancial Corporations," FEDS Notes 2017-06-16. Board of
Governors of the Federal Reserve System (U.S.).
Kyle, Albert S., Anna A. Obizhaeva, and Tugkan Tuzun (2016). "Microstructure Invariance in U.S. Stock
Market Trades," Finance and Economics Discussion Series 2016-034. Board of Governors of the Federal
Reserve System (U.S.).
Kyle, Albert S., Anna A. Obizhaeva, Nitish Ranjan Sinha, and Tugkan Tuzun (2017). "News Articles and
Equity Trading," CEFIR / NES Working Paper, no. 233. Centre for Economic and Financial Research at
New Economic School.
Lewis, Kurt F., Francis A. Longstaff, and Lubomir Petrasek (2017). "Asset Mispricing," NBER Working
Paper, no. 23231. National Bureau of Economic Research, Inc.
Li, Canlin, Andrew Meldrum, and Marius Rodriguez (2017). "Robustness of Long-Maturity Term Premium
Estimates," FEDS Notes 2017-04-03. Board of Governors of the Federal Reserve System (U.S.).
Liu, Qi, Lei Lu, and Bo Sun (2017). "Incentive Contracting Under Ambiguity Aversion," International
Finance Discussion Papers 1195. Board of Governors of the Federal Reserve System (U.S.).
Meldrum, Andrew, Marek Raczko, and Peter Spencer (2016). "Overseas Unspanned Factors and
Domestic Bond Returns," Staff Working Paper no. 618. Bank of England.
Monnet, Cyril, and Borghan N. Narajabad (2017). "Why Rent When You Can Buy?" Finance and
Economics Discussion Series 2017-094. Board of Governors of the Federal Reserve System (U.S.).
Norden, Lars, Peter Roosenboom, and Teng Wang (2016). "The Effects of Corporate Bond Granularity,"
Journal of Banking & Finance, vol. 63, pp. 25-34.
Nozawa, Yoshio (2017). "What Drives the Cross-Section of Credit Spreads?: A Variance Decomposition
Approach," Journal of Finance, vol. 72, no. 5, pp. 2045–2072.
Ogden, Rick, Francisco Palomino, Nitish Sinha, and Youngsuk Yook (2016). "Corporate Bond Issuers'
Swap Exposure to Rising Interest Rates," FEDS Notes 2016-05-26. Board of Governors of the Federal
Reserve System (U.S.).
25
Onur, Esen, John S. Roberts, and Tugkan Tuzun (2017). “Trader Positions and Marketwide Liquidity
Demand,” Finance and Economics Discussion Series 2017-103. Board of Governors of the Federal
Reserve System (U.S.).
Park, Yang-Ho (2016). "The Effects of Asymmetric Volatility and Jumps on the Pricing of VIX Derivatives,"
Journal of Econometrics, vol. 192, no. 1, pp. 313-328.
Pool, Veronika K., Clemens Sialm, and Irina Stefanescu (2016). "It Pays to Set the Menu: Mutual Fund
Investment Options in 401(k) Plans," Journal of Finance, vol. 71, no. 4, pp. 1779-1812.
Ramcharan, Rodney, Stephane Verani, and Skander J. Van den Heuvel (2016). "From Wall Street to Main
Street: The Impact of the Financial Crisis on Consumer Credit Supply," Journal of Finance, vol. 71, no. 3,
pp. 1323-1356.
Ramírez, Carlos (2017). "Inter-firm Relationships and Asset Prices," Finance and Economics Discussion
Series 2017-014. Board of Governors of the Federal Reserve System (U.S.).
Sinha, Nitish Ranjan (2016). "Underreaction to News in the US Stock Market," Quarterly Journal of
Finance, vol. 6, no. 2.
Song, Zhaogang, and Dacheng Xiu (2016). "A Tale of Two Option Markets: Pricing Kernels and Volatility
Risk," Journal of Econometrics, vol. 190, pp. 176-196.
Sun, Zheng, Ashley W. Wang, and Lu Zheng (forthcoming). "Only Winners in Tough Times Repeat: Hedge
Fund Performance Persistence over Different Market Conditions," Journal of Financial and Quantitative
Analysis.
Swem, Nathan (2017). "Information in Financial Markets: Who Gets It First?" Finance and Economics
Discussion Series 2017-023. Board of Governors of the Federal Reserve System (U.S.).
Tian, Mary (forthcoming). "Tradability of Output, Business Cycles, and Asset Prices," Journal of Financial
Economics.
von Beschwitz, Bastian, Oleg Chuprinin, and Massimo Massa (2017). "Why Do Short Sellers Like
Qualitative News?" Journal of Financial and Quantitative Analysis, vol. 52, no. 2, pp. 645-675.
Warusawitharana, Missaka (2016). "Time-varying Volatility and the Power Law Distribution of Stock
Returns," Finance and Economics Discussion Series 2016-022. Board of Governors of the Federal Reserve
System (U.S.).
Wei, Jason, and Xing Zhou (2016). "Informed Trading in Corporate Bonds Prior to Earnings
Announcements," Financial Management, vol. 45, no. 3, pp. 641-674.
INDUSTRIAL ORGANIZATION
Adams, Robert M., and Dean F. Amel (2016). "The Effects of Past Entry, Market Consolidation, and
Expansion by Incumbents on the Probability of Entry," Review of Industrial Organization, vol. 48, no. 1,
pp. 95-118.
Adenbaum, Jacob, Adam Copeland, and John J. Stevens (2016). "Do Long-Haul Truckers Undervalue
Future Fuel Savings?" Staff Reports 756. Federal Reserve Bank of New York.
26
Byrne, David, Carol A. Corrado, and Daniel E. Sichel (2017). "Own-Account IT Equipment Investment,”
FEDS Notes 2017-10-04. Board of Governors of the Federal Reserve System (U.S.).
Byrne, David, Wendy Dunn, and Eugenio Pinto (2016). "Prices and Depreciation in the Market for Tablet
Computers," FEDS Notes 2016-12-05. Board of Governors of the Federal Reserve System (U.S.).
Cen, Ling, Erfan Danesh, Chayawat Ornthanalai, and Xiaofei Zhao (2016) "The Power of Economic
Networks: Investor Recognition Through Supply-Chain Relationships," Rotman School of Management
Working Paper 2572717. University of Toronto.
Conflitti, Cristina, and Matteo Luciani (2017). "Oil Price Pass-Through into Core Inflation," Finance and
Economics Discussion Series 2017-085. Board of Governors of the Federal Reserve System (U.S.).
Datta, Deepa, Benjamin K. Johannsen, Hannah Kwon, and Robert J. Vigfusson (2017). "Oil, Equities, and
the Zero Lower Bound," BIS Working Papers, no. 617. Bank for International Settlements.
Decker, Ryan A., Aaron Flaaen, and Maria D. Tito (2016). "Unraveling the Oil Conundrum: Productivity
Improvements and Cost Declines in the U.S. Shale Oil Industry," FEDS Notes 2016-03-22. Board of
Governors of the Federal Reserve System (U.S.).
Hottman, Colin J., Stephen J. Redding, and David E. Weinstein (2016). "Quantifying the Sources of Firm
Heterogeneity," Quarterly Journal of Economics, vol. 131, no. 3, pp. 1291-1364.
Huang, Sean S., Jie Yang, and Nathan Carroll (forthcoming). "Taxes, Bankruptcy Costs, and Capital
Structure in for-Profit and Not-for-Profit Hospitals," Health Services Management Research.
Lincoln, William, F., and Andrew H. McCallum (2016). "The Rise of Exporting by U.S. Firms," International
Finance Discussion Papers 1157. Board of Governors of the Federal Reserve System (U.S.).
Nanda, Vikram, Wei Wu, and Xing Zhou (2017). "Investment Commonality across Insurance Companies:
Fire Sale Risk and Corporate Yield Spreads," Finance and Economics Discussion Series 2017-069. Board of
Governors of the Federal Reserve System (U.S.).
Pierce, Justin R., and Peter K. Schott (2016). "The Surprisingly Swift Decline of U.S. Manufacturing
Employment," American Economic Review, vol. 106, no. 7, pp. 1632-62.
Prager, Robin A. (2016). "Industrial Organization Research at the Federal Reserve Board," Review of
Industrial Organization, vol. 48, no. 2, pp. 119-121.
Ray, Korok, and Jacob Gramlich (2016). "Reconciling Full-Cost and Marginal-Cost Pricing," Journal of
Management Accounting Research, vol. 28, no. 1, pp. 27-37.
Somale, Mariano (2017). "Comparative Advantage in Innovation and Production," International Finance
Discussion Papers 1206. Board of Governors of the Federal Reserve System (U.S.).
INTERNATIONAL ECONOMICS
Agarwal, Sumit, Bernardo Morais, Claudia Ruiz, and Jian Zhang (2016). "The Political Economy of Bank
Lending: Evidence from an Emerging Market," Policy Research Working Paper Series 7577. The World
Bank.
27
Ahmed, Shaghil (2017). "China's Footprints on the Global Economy: Remarks delivered at the Second
IMF and Federal Reserve Bank of Atlanta Research Workshop on the Chinese Economy," IFDP Notes
2017-09-28. Board of Governors of the Federal Reserve System (U.S.).
Ahmed, Shaghil, Brahima Coulibaly, and Andrei Zlate (2017). "International Financial Spillovers to
Emerging Market Economies: How Important Are Economic Fundamentals?" Risk and Policy Analysis
Unit Working Paper, no. 17-02. Federal Reserve Bank of Boston.
Amiti, Mary, Tyler Bodine-Smith, Colin Hottman, and Logan Lewis (2016). "What's Driving the Recent
Slump in U.S. Imports?" IFDP Notes 2016-11-07. Board of Governors of the Federal Reserve System
(U.S.).
Ammer, John, Alexandra Tabova, and Caleb Wroblewski (2016). ""Low-For-Long" Interest Rates and
Portfolio Shifts in Advanced Foreign Economies," IFDP Notes 2016-12-30. Board of Governors of the
Federal Reserve System (U.S.).
Ammer, John, Michiel De Pooter, Christopher Erceg, and Steven Kamin (2016). "International Spillovers
of Monetary Policy," IFDP Notes 2016-02-08. Board of Governors of the Federal Reserve System (U.S.).
Bailey, Warren, and Edith X. Liu (2016) "Incorporation in Offshore Financial Centers: Naughty or Nice?"
Bastos, Paulo, Daniel A. Dias, and Olga A. Timoshenko (2016). "Learning, Prices, and Firm Dynamics,"
Policy Research Working Paper Series 7667. The World Bank.
Beltran, Daniel, Keshav Garud, and Aaron Rosenblum (2017). "Emerging Market Nonfinancial Corporate
Debt: How Concerned Should We Be?" IFDP Notes 2017-06-01. Board of Governors of the Federal
Reserve System (U.S.).
Boehm, Christoph E., Aaron Flaaen, and Nitya Pandalai-Nayar (2017). "Multinationals Offshoring, and
the Decline of U.S. Manufacturing," Working Papers 17-22. Center for Economic Studies, U.S. Census
Bureau.
Cenedese, Gino, and Enrico Mallucci (2016). "What Moves International Stock and Bond Markets?"
Journal of International Money and Finance, vol. 60, pp. 94-113.
Cerutti, Eugenio, Stijn Claessens, and Lev Ratnovski (forthcoming). "Global Liquidity and Drivers of Cross-
Border Bank Flows," Economic Policy.
Che, Yi, Yi Lu, Justin R. Pierce, Peter K. Schott, and Zhigang Tao (2016). "Does Trade Liberalization with
China Influence U.S. Elections?" NBER Working Paper, no. 22178. National Bureau of Economic
Research, Inc.
Claessens, Stijn, Hui Tong, and Igor Zuccardi (forthcoming). "Did the Euro Crisis Affect Non-Financial Firm
Stock Prices through a Financial Or Trade Channel?" Journal of Money Credit and Banking.
Claessens, Stijn, Livio Stracca, and Francis E. Warnock (2016). "International Dimensions of Conventional
and Unconventional Monetary Policy," Journal of International Money and Finance, vol. 67, pp. 1-7.
Claessens, Stijn, Nicholas S. Coleman, and Michael Donnelly (2016). "'Low-for-long' Interest Rates and
Net Interest Margins of Banks in Advanced Foreign Economies," IFDP Notes 2016-04-11. Board of
Governors of the Federal Reserve System (U.S.).
28
Clark, John, Nathan Converse, Brahima Coulibaly, and Steve Kamin (2016). "Emerging Market Capital
Flows and U.S. Monetary Policy," IFDP Notes 2016-10-18. Board of Governors of the Federal Reserve
System (U.S.).
Correa, Ricardo, Horacio Sapriza, and Andrei Zlate (2016). "Liquidity Shocks, Dollar Funding Costs, and
the Bank Lending Channel during the European Sovereign Crisis," Risk and Policy Analysis Unit Working
Paper, no. 16-04. Federal Reserve Bank of Boston.
Correa, Ricardo, Teodora Paligorova, Horacio Sapriza, and Andrei Zlate (2017). "Cross-Border Bank Flows
and Monetary Policy: Implications for Canada," Staff Working Paper 2017-34. Bank of Canada.
Curcuru, Stephanie E. (2017). "The Sensitivity of the U.S. Dollar Exchange Rate to Changes in Monetary
Policy Expectations," IFDP Notes 2017-09-22. Board of Governors of the Federal Reserve System (U.S.).
D'Agostino, Antonello, Michele Modugno, and Chiara Osbat (forthcoming). "A Global Trade Model for
the Euro Area," International Journal of Central Banking.
Danielsson, Jon, Marcela Valenzuela, and Ilknur Zer (2016). "Learning from History: Volatility and
Financial Crises," Finance and Economics Discussion Series 2016-093. Board of Governors of the Federal
Reserve System (U.S.).
Davis, J. Scott, and Ignacio Presno (2017). "Capital Controls and Monetary Policy Autonomy in a Small
Open Economy," Journal of Monetary Economics, vol. 85, pp. 114-130.
Du, Wenxin, Alexander Tepper, and Adrien Verdelhan (2017). "Deviations from Covered Interest Rate
Parity," NBER Working Paper, no. 23170. National Bureau of Economic Research, Inc.
Du, Wenxin, and Jesse Schreger (2016). "Local Currency Sovereign Risk," Journal of Finance, vol. 71, no.
3, pp. 1027-1070.
Du, Wenxin, and Jesse Schreger (2016). "Sovereign Risk, Currency Risk, and Corporate Balance Sheets,"
Harvard Business School Working Papers 17-024. Harvard Business School.
Du, Wenxin, Carolin E. Pflueger, and Jesse Schreger (2016). "Sovereign Debt Portfolios, Bond Risks, and
the Credibility of Monetary Policy," NBER Working Paper, no.22592. National Bureau of Economic
Research, Inc.
Dumas, Bernard, Karen K. Lewis, and Emilio Osambela (2017). "Differences of Opinion and International
Equity Markets," Review of Financial Studies, vol. 30, no. 3, pp. 750-800.
Epstein, Brendan, Rahul Mukherjee, and Shanthi Ramnath (2016). "Taxes and International Risk
Sharing," Journal of International Economics, vol. 102, pp. 310-326.
Feunou, Bruno, Mohammad R. Jahan-Parvar, and Roméo Tédongap (2016). "Which Parametric Model
for Conditional Skewness?" European Journal of Finance, vol. 22, no. 13, pp. 1237-1271.
Flaaen, Aaron (2017). "The Role of Transfer Prices in Profit-Shifting by U.S. Multinational Firms: Evidence
from the 2004 Homeland Investment Act," Finance and Economics Discussion Series 2017-055. Board of
Governors of the Federal Reserve System (U.S.).
29
Foley-Fisher, Nathan, and Eoin McLaughlin (2016). "Sovereign Debt Guarantees and Default: Lessons
From the UK and Ireland, 1920-1938," European Economic Review, vol. 87, pp. 272-286.
Gerlach, Jeffrey R., and Youngsuk Yook (2016). "Political Conflict and Foreign Portfolio Investment:
Evidence from North Korean Attacks," Finance and Economics Discussion Series 2016-037. Board of
Governors of the Federal Reserve System (U.S.).
Gerlach, Jeffrey R., and Youngsuk Yook (2016). "Political Conflict and Foreign Portfolio Investment:
Evidence from North Korean Attacks," Pacific-Basin Finance Journal, vol. 39, pp. 178-196.
Hegarty, Caitlin, and Beth Anne Wilson (2017). "Recoveries and Trade: Does the Exchange Rate Regime
Matter," IFDP Notes 2017-06-29. Board of Governors of the Federal Reserve System (U.S.).
Hoefele, Andreas, Tim Schmidt-Eisenlohr, and Zhihong Yu (2016). "Payment Choice in International
Trade: Theory and Evidence from Cross-Country Firm-Level Data," Canadian Journal of Economics, vol.
49, no. 1, pp. 296-319.
Hur, Sewon, and Illenin O. Kondo (2016). "A Theory of Rollover Risk, Sudden Stops, and Foreign
Reserves," Journal of International Economics, vol. 103, pp. 44-63.
Julio, Brandon, and Youngsuk Yook (2016). "Policy Uncertainty, Irreversibility, and Cross-Border Flows of
Capital," Journal of International Economics, vol. 103, pp. 13-26.
Kamal, Fariha, and Ryan Monarch (forthcoming). "Identifying Foreign Suppliers in U.S. Import Data,"
Review of International Economics.
Kara, Gazi Ishak (2016). "Systemic Risk, International Regulation, and the Limits of Coordination," Journal
of International Economics, vol. 99, pp. 192-222.
Krolikowski, Pawel M., and Andrew H. McCallum (2016). "Goods-Market Frictions and International
Trade," Working Paper, no. 16-35. Federal Reserve Bank of Cleveland.
Kurz, Christopher, and Mine Z. Senses (2016). "Importing, Exporting, and Firm-Level Employment
Volatility," Journal of International Economics, vol. 98, pp. 160-175.
Lee, Kuan-Hui, Horacio Sapriza, and Yangru Wu (2016). "Sovereign Debt Ratings and Stock Liquidity
Around the World," Journal of Banking & Finance, vol. 73, pp. 99-112.
Lewis, Karen K., and Edith X. Liu (2017). "Disaster Risk and Asset Returns: An International Perspective,"
NBER Working Paper, no. 23065. National Bureau of Economic Research, Inc.
Lewis, Logan, and Ryan Monarch (2016). "Causes of the Global Trade Slowdown," IFDP Notes 2016-11-
10. Board of Governors of the Federal Reserve System (U.S.).
Liu, Edith X. (2016). "Portfolio Diversification and International Corporate Bonds," Journal of Financial
and Quantitative Analysis, vol. 51, no. 3, pp. 959-983.
Liu, Edith X., and Jonathan Pogach (2017). "The Effect of Foreign Lending on Domestic Loans: An Analysis
of U.S. Global Banks," International Finance Discussion Papers 1198. Board of Governors of the Federal
Reserve System (U.S.).
30
Londono, Juan M. (2016). "Bad Bad Contagion," International Finance Discussion Papers 1178. Board of
Governors of the Federal Reserve System (U.S.).
Londono, Juan M., and Hao Zhou (2017). "Variance Risk Premiums and the Forward Premium Puzzle,"
Journal of Financial Economics, vol. 124, no. 2, pp. 415-440.
Malamud, Semyon, and Aytek Malkhozov (2016). "Market Integration and Global Crashes," CEPR
Discussion Papers 11468. Centre for Economic Policy Research.
Malkhozov, Aytek, Philippe Mueller, Andrea Vedolin, and Gyuri Venter (2017). "International Illiquidity,"
International Finance Discussion Papers 1201. Board of Governors of the Federal Reserve System (U.S.).
Monarch, Ryan (2016). "'It's Not You, It's Me': Breakups in U.S.-China Trade Relationships," International
Finance Discussion Papers 1165. Board of Governors of the Federal Reserve System (U.S.).
Monarch, Ryan, and Tim Schmidt-Eisenlohr (2016). "Learning and the Value of Relationships in
International Trade," Working Papers 16-11. Center for Economic Studies, U.S. Census Bureau.
Monarch, Ryan, Jooyoun Park, and Jagadeesh Sivadasan (2017). "Domestic Gains from Offshoring?
Evidence from TAA-linked U.S. Microdata," Journal of International Economics, vol. 105, pp. 150-173.
Nelson, Edward (2017). "Reaffirming the Influence of Milton Friedman on U.K. Economic Policy,"
Economics Working Paper Series, no. 2017-01. University of Sydney.
Niepmann, Friederike, and Cornelia Kerl (2016). "What Determines the Composition of International
Bank Flows?" International Finance Discussion Papers 1170. Board of Governors of the Federal Reserve
System (U.S.).
Niepmann, Friederike, and Tim Schmidt-Eisenlohr (2017). "International Trade, Risk and the Role of
Bank," Journal of International Economics, vol. 107, pp. 111-126.
Niepmann, Friederike, and Tim Schmidt-Eisenlohr (2017). "No Guarantees, No Trade: How Banks Affect
Export Patterns," Journal of International Economics, vol. 108, pp. 338-350.
Pierce, Justin R., and Peter K. Schott (2016). "Trade Liberalization and Mortality: Evidence from U.S.
Counties," NBER Working Paper, no. 22849. National Bureau of Economic Research, Inc.
Reyes-Heroles Cardoso, Ricardo M. (2016). "Essays in International Economics," Ph.D. dissertation,
Princeton University.
Reyes-Heroles, Ricardo M., and Gabriel Tenorio (2017). "Managing Capital Flows in the Presence of
External Risks," International Finance Discussion Papers 1213. Board of Governors of the Federal
Reserve System (U.S.).
Reyes-Heroles, Ricardo, and Gabriel Tenorio (2017). "Interest Rate Volatility and Sudden Stops: An
Empirical Investigation," International Finance Discussion Papers 1209. Board of Governors of the
Federal Reserve System (U.S.).
Rodriguez, Marius, and Emre Yoldas (2016). "Drivers of Inflation Compensation: Evidence from Inflation
Swaps in Advanced Economies," IFDP Notes 2016-12-30. Board of Governors of the Federal Reserve
System (U.S.).
31
Sapriza, Horacio, G. Cuadra, and J. M. Sanchez (forthcoming). "Sovereign Default and Fiscal Policy,"
Review of Economic Dynamics.
Shousha, Samer F. (2016). "Essays in International Macroeconomics," Ph.D. dissertation, Columbia
University.
Shousha, Samer F. (2017). "International Reserves, Credit Constraints, and Systemic Sudden Stops,"
International Finance Discussion Papers 1205. Board of Governors of the Federal Reserve System (U.S.).
Temesvary, Judit (2016). "The Drivers of Foreign Currency-Based Banking in Central and Eastern
Europe," Economics of Transition, vol. 24, no. 2, pp. 233-257.
Tito, Maria (2016). "Import Penetration and Domestic Innovation: A View into Dynamic Gains from
Trade," FEDS Notes 2016-12-16. Board of Governors of the Federal Reserve System (U.S.).
Tito, Maria D. (2017). "Looking Inside the Magic 8 Ball: An Analysis of Sales Forecasts using Italian Firm-
Level Data," Finance and Economics Discussion Series 2017-027. Board of Governors of the Federal
Reserve System (U.S.).
Tito, Maria D., and Ruoying Wang (2017). "Exporting and Frictions in Input Markets: Evidence from
Chinese Data," Finance and Economics Discussion Series 2017-077. Board of Governors of the Federal
Reserve System (U.S.).
Van Leemput, Eva (2016). "A Passage to India: Quantifying Internal and External Barriers to Trade,"
International Finance Discussion Papers 1185. Board of Governors of the Federal Reserve System (U.S.).
Van Leemput, Eva, and Ellen A. Wiencek (2017). "The Effect of the GST on Indian Growth," IFDP Notes
2017-03-24. Board of Governors of the Federal Reserve System (U.S.).
Wong, Anna (2017). "China's Current Account: External Rebalancing or Capital Flight?" International
Finance Discussion Papers 1208. Board of Governors of the Federal Reserve System (U.S.).
LABOR ECONOMICS
Ahn, Hie Joo (2016). "Heterogeneity in the Dynamics of Disaggregate Unemployment," Finance and
Economics Discussion Series 2016-063. Board of Governors of the Federal Reserve System (U.S.).
Ahn, Hie Joo, and Ling Shao (2017). "Precautionary On-the-Job Search over the Busines Cycle," Finance
and Economics Discussion Series 2017-025. Board of Governors of the Federal Reserve System (U.S.).
Armour, Philip, Richard V. Burkhauser, and Jeff Larrimore (2016). "Using the Pareto Distribution to
Improve Estimates of Topcoded Earnings," Economic Inquiry, vol. 54, no. 2, pp. 1263-1273.
Arseneau, David M., and Brendan Epstein (2017). "Offshoring, Mismatch, and Labor Market Outcomes,"
in Christensen, Bent Jesper, and Carsten Kowalczyk eds., Globalization: Strategies and Effects, pp. 47-74.
Caines, Colin, Florian Hoffmann, and Gueorgui Kambourov (2017). "Complex-Task Biased Technological
Change and the Labor Market," Review of Economic Dynamics, vol. 25, pp. 298-319.
Caines, Colin, Florian Hoffmann, and Gueorgui Kambourov (2017). "Does Automation Drive the Labor
Market?" IFDP Notes 2017-07-28. Board of Governors of the Federal Reserve System (U.S.).
32
Cairó, Isabel, and Tomaz Cajner (forthcoming). "Human Capital and Unemployment Dynamics: Why
More-Educated Workers Enjoy Greater Employment Stability," Economic Journal.
Cajner, Tomaz, Tyler Radler, David Ratner, and Ivan Vidangos (2017). "Racial Gaps in Labor Market
Outcomes in the Last Four Decades and over the Business Cycle," Finance and Economics Discussion
Series 2017-071. Board of Governors of the Federal Reserve System (U.S.).
De Ridder, Maarten, and Damjan Pfajfar (2017). "Policy Shocks and Wage Rigidities: Empirical Evidence
from Regional Effects of National Shocks," Cambridge Working Papers in Economics 1717. Faculty of
Economics, University of Cambridge.
Decker, Ryan A., John Haltiwanger, Ron S. Jarmin, and Javier Miranda (2016). "Declining Business
Dynamism: What We Know and the Way Forward," American Economic Review: Papers and Proceedings,
vol. 106, no. 5, pp. 203-07.
Dettling, Lisa J. (2017). "Broadband in the Labor Market: The Impact of Residential High-Speed Internet
on Married Women's Labor Force Participation," Industrial and Labor Relations Review, vol. 70, no. 2,
pp. 451-482.
Doniger, Cynthia L., and David Lopez-Salido (2017). "Hysteresis via Endogenous Rigidity in Wages and
Participation," Finance and Economics Discussion Series 2017-044. Board of Governors of the Federal
Reserve System (U.S.).
Dore, Timothy E., and Rebecca Zarutskie (2017). "Firm Leverage, Labor Market Size, and Employee Pay,"
Finance and Economics Discussion Series 2017-078. Board of Governors of the Federal Reserve System
(U.S.).
Fallick, Bruce C., Michael Lettau, and William L. Wascher (2016). "Downward Nominal Wage Rigidity in
the United States During and After the Great Recession," Working Paper, no. 16-02. Federal Reserve
Bank of Cleveland.
Feldman, Naomi E., and Karine van der Beek (2016). "Skill Choice and Skill Complementarity in
Eighteenth Century England," Explorations in Economic History, vol. 59, pp. 94-113.
Figura, Andrew, and David Ratner (2017). "How Large were the Effects of Emergency and Extended
Benefits on Unemployment during the Great Recession and its Aftermath?" Finance and Economics
Discussion Series 2017-068. Board of Governors of the Federal Reserve System (U.S.).
Flinn, Christopher, Ahu Gemici, and Steven Laufer (2017). "Search, Matching and Training," Review of
Economic Dynamics, vol. 25, pp. 260-297.
Jacobs, Lindsay, and Suphanit Piyapromdee (2016). "Labor Force Transitions at Older Ages: Burnout,
Recovery, and Reverse Retirement," Finance and Economics Discussion Series 2016-053. Board of
Governors of the Federal Reserve System (U.S.).
Kondo, Illenin O. (2016). "Foreign Competition and Domestic Jobs: Evidence from the U.S. Trade
Adjustment Assistance," IFDP Notes 2016-03-31. Board of Governors of the Federal Reserve System
(U.S.).
33
Krautheim, Sebastian, and Tim Schmidt-Eisenlohr (2016). "Wages and International Tax Competition,"
Review of International Economics, vol. 24, no. 5, pp. 893-923.
Molloy, Raven, Christopher L. Smith, and Abigail Wozniak (2017). "Job Changing and the Decline in Long-
Distance Migration in the United States," Demography, vol. 54, no. 2, pp. 631-653.
Molloy, Raven, Christopher L. Smith, Riccardo Trezzi, and Abigail Wozniak (2016). "Understanding
Declining Fluidity in the U.S. Labor Market," Brookings Papers on Economic Activity, Spring, pp. 183-237.
Morales-Jiménez, Camilo (2017). "The Cyclical Behavior of Unemployment and Wages under
Information Frictions," Finance and Economics Discussion Series 2017-047. Board of Governors of the
Federal Reserve System (U.S.).
Neumark, David, and William Wascher (2017). "Reply to 'Credible Research Designs for Minimum Wage
Studies'," ILR Review, vol. 70, no. 3, pp. 593-609.
Nielsen, Eric R. (2017). "Human Capital and Wealth before and after Capital in the Twenty-First
Century," in Heather Boushey, J. Bradford DeLong, and Marshall Steinbaum, eds., After Piketty: The
Agenda for Economics and Inequality, (Harvard University Press).
Orak, Musa (2017). "Capital-Task Complementarity and the Decline of the U.S. Labor Share of Income,"
International Finance Discussion Papers 1200. Board of Governors of the Federal Reserve System (U.S.).
Peterman, William B. (2016). "Reconciling Micro and Macro Estimates of the Frisch Labor Supply
Elasticity," Economic inquiry, vol. 54, no. 1, pp. 100-120.
Schuetz, Jenny (2016). "Where Should Online Peer-to-Peer Markets Thrive?" FEDS Notes 2016-12-22.
Board of Governors of the Federal Reserve System (U.S.).
Weingarden, Alison (2017). "Employment Dynamics in a Signaling Model with Workers' Incentives,"
Finance and Economics Discussion Series 2017-040. Board of Governors of the Federal Reserve System
(U.S.).
Weingarden, Alison (2017). "Job Reallocation and Unemployment in Equilibrium," FEDS Notes 2017-04-
20. Board of Governors of the Federal Reserve System (U.S.).
Weingarden, Alison (2017). "Labor Market Outcomes in Metropolitan and Non-Metropolitan Areas:
Signs of Growing Disparities," FEDS Notes 2017-09-25. Board of Governors of the Federal Reserve
System (U.S.).
Weingarden, Alison (2017). "The Timing of Mass Layoff Episodes: Evidence from U.S. Microdata,"
Finance and Economics Discussion Series 2017-088. Board of Governors of the Federal Reserve System
(U.S.).
MACROECONOMICS
Adao, Bernardino, Borghan Narajabad, and Ted Loch-Temzelides (2017). "Renewable Technology
Adoption and the Macroeconomy," CESifo Working Paper, no. 6372. CESifo Group Munich.
Akinci, Ozge, and Albert Queralto (2016). "Credit Spreads, Financial Crises, and Macroprudential Policy,"
Staff Reports 802. Federal Reserve Bank of New York.
34
Anbil, Sriya (2017). "Managing Stigma during a Financial Crisis," Finance and Economics Discussion Series
2017-007. Board of Governors of the Federal Reserve System (U.S.).
Arias, Jonas E., Christopher Erceg, and Mathias Trabandt (2016). "The Macroeconomic Risks of
Undesirably Low Inflation," European Economic Review, vol. 88, pp. 88-107.
Aruoba, S. Borağan, Francis X. Diebold, Jeremy Nalewaik, Frank Schorfheide, and Dongho Song (2016).
"Improving GDP Measurement: A Measurement-Error Perspective," Journal of Econometrics, vol. 191,
no. 2, pp. 384-397.
Aruoba, S. Boragan, Pablo Cuba-Borda, and Frank Schorfheide (2016). "Macroeconomic Dynamics Near
the ZLB: A Tale of Two Countries," International Finance Discussion Papers 1163. Board of Governors of
the Federal Reserve System (U.S.).
Ates, Sina, T., and Felipe E. Saffie (2016). "Fewer but Better: Sudden Stops, Firm Entry, and Financial
Selection," International Finance Discussion Papers 1187. Board of Governors of the Federal Reserve
System (U.S.).
Babb, Nathan R., and Alan K. Detmeister (2017). "Nonlinearities in the Phillips Curve for the United
States: Evidence Using Metropolitan Data," Finance and Economics Discussion Series 2017-070. Board of
Governors of the Federal Reserve System (U.S.).
Baglan, Deniz, and Emre Yoldas (2016). "Public Debt and Macroeconomic Activity: A Predictive Analysis
for Advanced Economies," Studies in Nonlinear Dynamics & Econometrics, vol. 20, no. 3, pp. 301-324.
Bansal, Ravi, Marcelo Ochoa, and Dana Kiku (2016). "Climate Change and Growth Risks," NBER Working
Paper, no. 23009. National Bureau of Economic Research, Inc.
Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (2016). "Macro Risks and the Term Structure of
Interest Rates," NBER Working Paper, no. 22839. National Bureau of Economic Research, Inc.
Benmelech, Efraim, Ralf R. Meisenzahl, and Rodney Ramcharan (2017). "The Real Effects of Liquidity
During the Financial Crisis: Evidence from Automobiles," Quarterly Journal of Economics, vol. 132, no. 1,
pp. 317-365.
Berge, Travis J. (2017). "Understanding Survey Based Inflation Expectations," Finance and Economics
Discussion Series 2017-046. Board of Governors of the Federal Reserve System (U.S.).
Berge, Travis, Nitish Sinha, and Michael Smolyansky (2016). "Which Market Indicators Best Forecast
Recessions?" FEDS Notes 2016-08-02. Board of Governors of the Federal Reserve System (U.S.).
Black, Lamont K., Xin Huang, Hao Zhou, and Ricardo Correa (2016). "The Systemic Risk of European
Banks during the Financial and Sovereign Debt Crises," Journal of Banking & Finance, vol. 63, pp. 107-
125.
Blanco, Julio, and Gaston Navarro (2016). "The Unemployment Accelerator," CESifo Working Paper, no.
6248. CESifo Group Munich.
Boehm, Christoph E., Aaron Flaaen, and Nitya Pandalai-Nayar (2016). "The Role of Global Supply Chains
in the Transmission of Shocks: Firm-Level Evidence from the 2011 Tōhoku Earthquake," FEDS Notes
2016-05-02. Board of Governors of the Federal Reserve System (U.S.).
35
Byrne, David M., Stephen D. Oliner, and Daniel E. Sichel (forthcoming). "How Fast are Semiconductor
Prices Falling?" Review of Income and Wealth.
Byrne, David M., Brian K. Kovak, and Ryan Michaels (2017). "Quality-Adjusted Price Measurement: A
New Approach with Evidence from Semiconductors," Review of Economics and Statistics, vol. 99, no. 2,
pp. 330-342.
Byrne, David M., John G. Fernald, and Marshall B. Reinsdorf (2016). "Does the United States have a
Productivity Slowdown or a Measurement Problem," Finance and Economics Discussion Series 2016-
017. Board of Governors of the Federal Reserve System (U.S.).
Byrne, David M., John G. Fernald, and Marshall B. Reinsdorf (2016). "Does the United States Have a
Productivity Slowdown or a Measurement Problem?" Brookings Papers on Economic Activity, Spring, pp.
109-157.
Byrne, David, and Carol Corrado (2017). "ICT Asset Prices: Marshaling Evidence into New Measures,"
Finance and Economics Discussion Series 2017-016. Board of Governors of the Federal Reserve System
(U.S.).
Byrne, David, and Carol Corrado (2017). "ICT Prices and ICT Services: What do they tell us about
Productivity and Technology?" Finance and Economics Discussion Series 2017-015. Board of Governors
of the Federal Reserve System (U.S.).
Byrne, David, Stephen D. Oliner, and Daniel E. Sichel (2017). "Prices of High-Tech Products,
Mismeasurement, and the Pace of Innovation," Business Economics, vol. 52, no. 2, pp. 103-113.
Caines, Colin (2016). "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US
Housing Boom," International Finance Discussion Papers 1181. Board of Governors of the Federal
Reserve System (U.S.).
Caldara, Dario, Cristina Fuentes-Albero, Simon Gilchrist, and Egon Zakrajšek (2016). "The
Macroeconomic Impact of Financial and Uncertainty Shocks," European Economic Review, vol. 88, pp.
185-207.
Caldara, Dario, Michele Cavallo, and Matteo Iacoviello (2016). "Oil Price Elasticities and Oil Price
Fluctuations," International Finance Discussion Papers 1173. Board of Governors of the Federal Reserve
System (U.S.).
Carlstrom, Charles T., Timothy S. Fuerst, and Matthias Paustian (2016). "Optimal Contracts, Aggregate
Risk, and the Financial Accelerator," American Economic Journal: Macroeconomics, vol. 8, no. 1, pp. 119-
47.
Cashin, David, and Takashi Unayama (2016). "Measuring Intertemporal Substitution in Consumption:
Evidence from a VAT Increase in Japan," Review of Economics and Statistics, vol. 98, no. 2, pp. 285-297.
Chang, Andrew C., and Phillip Li (forthcoming). "Is Economics Research Replicable? Sixty Published
Papers from Thirteen Journals Say ‘Often Not’," Critical Finance Review.
D'Amico, Stefania, Thomas B. King, and Min Wei (2016). "Macroeconomic Sources of Recent Interest
Rate Fluctuations," FEDS Notes 2016-06-02. Board of Governors of the Federal Reserve System (U.S.).
36
De Michelis, Andrea, and Matteo Iacoviello (2016). "Raising an Inflation Target: The Japanese Experience
with Abenomics," European Economic Review, vol. 88, pp. 67-87.
Decker, Ryan, Pablo D'Erasmo, and Herman J. Moscoso Boedo (2016). "Market Exposure and
Endogenous Firm Volatility Over the Business Cycle," American Economic Journal: Macroeconomics, vol.
8, no. 1, pp. 148-198.
Detmeister, Alan, and Edward Hulseman (2017). "Was There a Great Moderation for Inflation
Volatility?" FEDS Notes 2017-06-29. Board of Governors of the Federal Reserve System (U.S.).
Detmeister, Alan, David Lebow, and Ekaterina Peneva (2016). "Inflation Perceptions and Inflation
Expectations," FEDS Notes 2016-12-05. Board of Governors of the Federal Reserve System (U.S.).
Dias, Daniel A., Carlos Robalo Marques, and Christine J. Richmond (2016). "A Tale of Two Sectors: Why is
Misallocation Higher in Services than in Manufacturing?" IMF Working Papers 16/220. International
Monetary Fund.
Dias, Daniel A., Carlos Robalo Marques, and Christine Richmond (2016). "Misallocation and Productivity
in the Lead Up to the Eurozone Crisis," Journal of Macroeconomics, vol. 49, pp. 46-70.
Dittmar, Robert F., Francisco Palomino, and Wei Yang (2016). "Leisure Preferences, Long-Run Risks, and
Human Capital Returns," Review of Asset Pricing Studies, vol. 6, no. 1, pp. 88-134.
Dungey, Mardi, Marius Matei, Matteo Luciani, and David Veredas (2017). "Surfing through the GFC:
Systemic Risk in Australia," Economic Record, vol. 93, no. 300, pp. 1-19.
Dunn, Wendy E., and Daniel J. Vine (2016). "Why are Inventory-Sales Ratios at U.S. Auto Dealerships so
High?" Finance and Economics Discussion Series 2016-047. Board of Governors of the Federal Reserve
System (U.S.).
Favara, Giovanni, Simon Gilchrist, Kurt F. Lewis, and Egon Zakrajšek (2016). "Recession Risk and the
Excess Bond Premium," FEDS Notes 2016-04-08. Board of Governors of the Federal Reserve System
(U.S.).
Favara, Giovanni, Simon Gilchrist, Kurt F. Lewis, and Egon Zakrajšek (2016). "Updating the Recession Risk
and the Excess Bond Premium," FEDS Notes 2016-10-06. Board of Governors of the Federal Reserve
System (U.S.).
Foley-Fisher, Nathan C., Ralf R. Meisenzahl, Borghan Narajabad, Maria G. Perozek, and Stephane H.
Verani (2016). "Funding Agreement-Backed Securities in the Enhanced Financial Accounts," FEDS Notes
2016-08-05. Board of Governors of the Federal Reserve System (U.S.).
Fulton, Chad (2016). "Sectoral Prices and Price-Setting," Ph.D. dissertation, University of Oregon.
Gagnon, Etienne, Benjamin K. Johannsen, and David Lopez-Salido (2016). "Understanding the New
Normal: The Role of Demographics," Finance and Economics Discussion Series 2016-080. Board of
Governors of the Federal Reserve System (U.S.).
Gagnon, Etienne, David Lopez-Salido, and Jason Sockin (2017). "The Cyclicality of Sales, Regular, and
Effective Prices: Business Cycle and Policy Implications: Comment," American Economic Review, vol. 107,
no. 10, pp. 3229-3242.
37
Gertler, Mark, Nobuhiro Kiyotaki, and Andrea Prestipino (2016). "Wholesale Banking and Bank Runs in
Macroeconomic Modeling of Financial Crises," International Finance Discussion Papers 1156. Board of
Governors of the Federal Reserve System (U.S.).
Gertler, Mark, Nobuhiro Kiyotaki, and Andrea Prestipino (2016). "Wholesale Banking and Bank Runs in
Macroeconomic Modelling of Financial Crises," NBER Working Paper, no. 21892. National Bureau of
Economic Research, Inc.
Gilchrist, Simon, and Egon Zakrajšek (2016). "Customer Markets and Financial Frictions: Implications for
Inflation Dynamics," Economic Policy Symposium Proceedings, Federal Reserve Bank of Kansas City, p. 1-
52.
Gilchrist, Simon, Raphael Schoenle, Jae Sim, and Egon Zakrajšek (2017). "Inflation Dynamics during the
Financial Crisis," American Economic Review, vol. 107, no. 3, pp. 785-823.
Gourio, Francois, Todd Messer, and Michael Siemer (2016). "Firm Entry and Macroeconomic Dynamics:
A State-level Analysis," American Economic Review: Papers and Proceedings, vol. 106, no. 5, pp. 214-218.
Grishchenko, Olesya, Sarah Mouabbi, and Jean-Paul Renne (2017). "The Joint Dynamics of U.S. and Euro-
area Inflation Rates: Expectations and Time-varying Uncertainty," Working Paper Series, no. 622. Banque
de France.
Gruber, Joseph W., and Steven B. Kamin (2016). "The Corporate Saving Glut and Falloff of Investment
Spending in OECD Economies," IMF Economic Review, vol. 64, no. 4, pp. 777-799.
Guerrieri, Luca, Dale Henderson, and Jinill Kim (2016). "Interpreting Shocks to the Relative Price of
Investment with a Two-Sector Model," Finance and Economics Discussion Series 2016-007. Board of
Governors of the Federal Reserve System (U.S.).
Guerrón-Quintana, Pablo, and Molin Zhong (2017). "Macroeconomic Forecasting in Times of Crises,"
Finance and Economics Discussion Series 2017-018. Board of Governors of the Federal Reserve System
(U.S.).
Hoffmann, Mathias, Michael U. Krause, and Thomas Laubach (forthcoming). "The Expectations-Driven
U.S. Current Account," Economic Journal.
Holm-Hadulla, Fédéric, and Kirstin Hubrich (2017). "Macroeconomic Implications of Oil Price
Fluctuations: A Regime-Switching Framework for the Euro Area," Finance and Economics Discussion
Series 2017-063. Board of Governors of the Federal Reserve System (U.S.).
Holmquist, Elizabeth B., and Maria G. Perozek (2016). "Funding Agreement-Backed Securities in the
Financial Accounts of the United States," FEDS Notes 2016-03-03. Board of Governors of the Federal
Reserve System (U.S.).
Hoops, Matthew C., Paul A. Smith, and Irina Stefanescu (2016). "State and Local Pension Funding in the
Enhanced Financial Accounts," FEDS Notes 2016-02-05. Board of Governors of the Federal Reserve
System (U.S.).
38
Hsu, Alex, Erica X.N. Li, and Francisco Palomino (2016). "Real and Nominal Equilibrium Yield Curves:
Wage Rigidities and Permanent Shocks," Finance and Economics Discussion Series 2016-032. Board of
Governors of the Federal Reserve System (U.S.).
Iyer, Rajkamal, and Marco Macchiavelli (2017). "Primary Dealers' Behavior during the 2007-08 Crisis:
Part I, Repo Runs," FEDS Notes 2017-06-22. Board of Governors of the Federal Reserve System (U.S.).
Kiley, Michael T. (2016). "Macroeconomic Modeling of Financial Frictions for Macroprudential
Policymaking: A Review of Pressing Challenges," FEDS Notes 2016-05-26. Board of Governors of the
Federal Reserve System (U.S.).
Kiley, Michael T. (2016). "Policy Paradoxes in the New Keynesian Model," Review of Economic Dynamics,
vol. 21, pp. 1-15.
Kilian, Lutz, and Robert J. Vigfusson (2016). "The Role of Oil Price Shocks in Causing U.S. Recessions,"
CESifo Working Paper, no. 5743. CESifo Group Munich.
Kozeniauskas, Nicholas, Anna Orlik, and Laura Veldkamp (2016). "The Common Origin of Uncertainty
Shocks," CEPR Discussion Papers 11501. Centre for Economic Policy Research.
Kozeniauskas, Nicholas, Anna Orlik, and Laura Veldkamp (2016). "The Common Origin of Uncertainty
Shocks," NBER Working Paper, no. 22384. National Bureau of Economic Research, Inc.
Kurtzman, Robert J., and David Zeke (2016). "Accounting for Productivity Dispersion over the Business
Cycle," Finance and Economics Discussion Series 2016-045. Board of Governors of the Federal Reserve
System (U.S.).
Leduc, Sylvain, Kevin Moran, and Robert J. Vigfusson (2016). "Learning in the Oil Futures Markets:
Evidence and Macroeconomic Implications," International Finance Discussion Papers 1179. Board of
Governors of the Federal Reserve System (U.S.).
Lengermann, Paul, Norman Morin, Andrew Paciorek, Eugenio Pinto, and Claudia Sahm (2017). "Another
Look at Residual Seasonality in GDP," FEDS Notes 2017-07-28. Board of Governors of the Federal
Reserve System (U.S.).
Li, Xin, Borghan Narajabad, and Ted Temzelides (2016). "Robust Dynamic Energy Use and Climate
Change," Quantitative Economics, vol. 7, no. 3, pp. 821-857.
López-Salido, David, Jeremy C. Stein, and Egon Zakrajšek (2017). "Credit-Market Sentiment and the
Business Cycle," Quarterly Journal of Economics, vol. 132, no. 3, pp. 1373-1426.
Millar, Jonathan N., Stephen D. Oliner, and Daniel E. Sichel (2016). "Time-to-Plan Lags for Commercial
Construction Projects," Regional Science and Urban Economics, vol. 59, pp. 75-89.
Modugno, Michele, Baris Soybilgen, and Ege Yazgan (2016). "Nowcasting Turkish GDP and News
Decomposition," International Journal of Forecasting, vol. 32, no. 4, pp. 1369-1384.
Morales-Jiménez, Camilo (2016). "Essays on Information Frictions, Prices and Unemployment," Ph.D.
dissertation, University of Maryland.
39
Moyen, Stéphane, Nikolai Stähler, and Fabian Winkler (2016). "Optimal Unemployment Insurance and
International Risk Sharing," Finance and Economics Discussion Series 2016-054. Board of Governors of
the Federal Reserve System (U.S.).
Nalewaik, Jeremy (2016). "Inflation Expectations and the Stabilization of Inflation: Alternative
Hypotheses," Finance and Economics Discussion Series 2016-035. Board of Governors of the Federal
Reserve System (U.S.).
O'Brien, James M., and Pawel J. Szerszen (2017). "An Evaluation of Bank Measures for Market Risk
Before, During and After the Financial Crisis," Journal of Banking & Finance, vol. 80, pp. 215-234.
Passmore, Wayne, and Alexander H. von Hafften (2017). "Are Basel's Capital Surcharges for Global
Systemically Important Banks Too Small?" Finance and Economics Discussion Series 2017-021. Board of
Governors of the Federal Reserve System (U.S.).
Passmore, Wayne, and Shane M. Sherlund (2016). "Government-Backed Mortgage Insurance Promoted
a Speedier Recovery from the Great Recession," FEDS Notes 2016-04-12. Board of Governors of the
Federal Reserve System (U.S.).
Pérez-Orive, Ander (2016). "Credit Constraints, Firms' Precautionary Investment, and the Business
Cycle," Journal of Monetary Economics, vol. 78, pp. 112-131.
Perez-Segura, Alejandro, and Robert J. Vigfusson (2016). "The Relationship Between Oil Prices and
Inflation Compensation," IFDP Notes 2016-04-06. Board of Governors of the Federal Reserve System
(U.S.).
Pouzo, Demian, and Ignacio Presno (2016). "Sovereign Default Risk and Uncertainty Premia," American
Economic Journal: Macroeconomics, vol. 8, no. 3, pp. 230-66.
Rice, Tara, and Jonathan Rose (2016). "When Good Investments Go Bad: The Contraction in Community
Bank Lending After the 2008 GSE Takeover," Journal of Financial Intermediation, vol. 27, pp. 68-88.
Schindler, John (2017). "FinTech and Financial Innovation: Drivers and Depth," Finance and Economics
Discussion Series 2017-081. Board of Governors of the Federal Reserve System (U.S.).
Shin, Minchul, Boyuan Zhang, Molin Zhong, and Dong Jin Lee (2017). "Measuring International
Uncertainty: The Case of Korea," Finance and Economics Discussion Series 2017-066. Board of
Governors of the Federal Reserve System (U.S.).
Shousha, Samer (2016). "Macroeconomic Effects of Commodity Booms and Busts: The Role of Financial
Frictions," Job Market paper, Columbia University, Department of Economics.
Sommer, Kamila (2016). "Fertility Choice in a Life Cycle Model with Idiosyncratic Uninsurable Earnings
Risk," Journal of Monetary Economics, vol. 83, pp. 27-38.
Surico, Paolo, and Riccardo Trezzi (2016). "Consumer Spending and Fiscal Consolidation: Evidence from a
Housing Tax Experiment," Cambridge Working Papers in Economics 1648. Faculty of Economics,
University of Cambridge.
Tase, Manjola (2016). "Sectoral Dynamics and Business Cycles," Finance and Economics Discussion Series
2016-066. Board of Governors of the Federal Reserve System (U.S.).
40
Wieland, Volker, Elena Afanasyeva, Meguy Kuete, and Jinhyuk Yoo (2016). "New Methods for Macro-
Financial Model Comparison and Policy Analysis," in Taylor, John B., and Harald Uhlig (eds.). Handbook
of Macroeconomics, vol. 2A, pp. 1241-1319.
Winkler, Fabian (2016). "The Role of Learning for Asset Prices and Business Cycles," Finance and
Economics Discussion Series 2016-019r. Board of Governors of the Federal Reserve System (U.S.).
MICROECONOMICS
Adams, Robert M. (2017). "Bank Fees, Aftermarkets, and Consumer Behavior," Finance and Economics
Discussion Series 2017-054. Board of Governors of the Federal Reserve System (U.S.).
Aladangady, Aditya, Shifrah Aron-Dine, Wendy Dunn, Laura Feiveson, Paul Lengermann, and Claudia
Sahm (2016). "The Effect of Hurricane Matthew on Consumer Spending," FEDS Notes 2016-12-02. Board
of Governors of the Federal Reserve System (U.S.).
Ameriks, John, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, and Christopher Tonetti (2016).
"Late-in-Life Risks and the Under-Insurance Puzzle," NBER Working Paper, no. 22726. National Bureau of
Economic Research, Inc.
Bhutta, Neil, and Benjamin J. Keys (2016). "Interest Rates and Equity Extraction during the Housing
Boom," American Economic Review, vol. 106, no. 7, pp. 1742-74.
Bhutta, Neil, Steven Laufer, and Daniel R. Ringo (2017). "Are Rising Home Values Restraining
Homebuying for Lower-Income Families?" FEDS Notes 2017-09-28. Board of Governors of the Federal
Reserve System (U.S.).
Bhutta, Neil, Steven Laufer, and Daniel R. Ringo (2017). "The Decline in Lending to Lower-Income
Borrowers by the Biggest Banks," FEDS Notes 2017-09-28. Board of Governors of the Federal Reserve
System (U.S.).
Bricker, Jesse, Alice Henriques, Jacob Krimmel, and John Sabelhaus (2016). "Estimating Top Income and
Wealth Shares: Sensitivity to Data and Methods," American Economic Review: Papers and Proceedings,
vol. 106, no. 5, pp. 641-645.
Bricker, Jesse, and Brian Bucks (2016). "Negative Home Equity, Economic Insecurity, and Household
Mobility over the Great Recession," Journal of Urban Economics, vol. 91, pp. 1-12.
Bricker, Jesse, and Geng Li (2017). "Credit Scores, Social Capital, and Stock Market Participation,"
Finance and Economics Discussion Series 2017-008. Board of Governors of the Federal Reserve System
(U.S.).
Bricker, Jesse, and Jeffrey Thompson (2016). "Does Education Loan Debt Influence Household Financial
Distress? An Assessment Using the 2007-2009 Survey of Consumer Finances Panel," Contemporary
Economic Policy, vol. 34, no. 4, pp. 660-677.
Briggs, Joseph (2016). "Essays in Household Finance," Ph.D. dissertation, New York University.
Carlstrom, Charles T., Timothy S. Fuerst, and Matthias Paustian (2016). "Optimal Contracts, Aggregate
Risk, and the Financial Accelerator," American Economic Journal: Macroeconomics, vol. 8, no. 1, pp. 119-
47.
41
Dettling, Lisa J., and Joanne W. Hsu (2017). "Minimum Wages and Consumer Credit: Impacts on Access
to Credit and Traditional and High-Cost Borrowing," Finance and Economics Discussion Series 2017-010.
Board of Governors of the Federal Reserve System (U.S.).
Devlin-Foltz, Sebastian, Alice M. Henriques, and John E. Sabelhaus (2016). "Has Tax-Preferred
Retirement Saving Offset Rising Wealth Concentration?" FEDS Notes 2016-07-29. Board of Governors of
the Federal Reserve System (U.S.).
Devlin-Foltz, Sebastian, and John Sabelhaus (2016). "Heterogeneity in Economic Shocks and Household
Spending in the US," Fiscal Studies, vol. 37, no. 1, pp. 153-192.
Dobridge, Christine L. (2016). "For Better and for Worse? Effects of Access to High-Cost Consumer
Credit," Finance and Economics Discussion Series 2016-056. Board of Governors of the Federal Reserve
System (U.S.).
Dodini, Samuel (2016). "Findings on Relative Deprivation from the Survey of Household Economics and
Decisionmaking," FEDS Notes 2016-06-29. Board of Governors of the Federal Reserve System (U.S.).
Ehrmann, Michael, Damjan Pfajfar, and Emiliano Santoro (2017). "Consumers' Attitudes and Their
Inflation Expectations," International Journal of Central Banking, vol. 13, no. 1, pp. 225-259.
Goodman, Sarena (2016). "Learning from the Test: Raising Selective College Enrollment by Providing
Information," Review of Economics and Statistics, vol. 98, no. 4, pp. 671-684.
Goodman, Sarena, Alice Henriques, and Alvaro Mezza (2017). "Where Credit is Due: The Relationship
between Family Background and Credit Health," Finance and Economics Discussion Series 2017-032.
Board of Governors of the Federal Reserve System (U.S.).
Gramlich, Jacob, and Serafin Grundl (2017). "Estimating the Competitive Effects of Common
Ownership," Finance and Economics Discussion Series 2017-029r. Board of Governors of the Federal
Reserve System (U.S.).
Greaney, Brian P., Joseph P. Kaboski, and Eva Van Leemput (2016). "Can Self-Help Groups Really Be 'Self-
Help'?" Review of Economic Studies, vol. 83, no. 4, pp. 1614-1644.
Grundl, Serafin, and You Suk Kim (2017). "Consumer Mistakes and Advertising: The Case of Mortgage
Refinancing," Finance and Economics Discussion Series 2017-067. Board of Governors of the Federal
Reserve System (U.S.).
Hsu, Joanne W., Maximilian D. Schmeiser, Catherine Haggerty, and Shannon Nelson (2017). "The Effect
of Large Monetary Incentives on Survey Completion: Evidence from a Randomized Experiment with the
Survey of Consumer Finances," Public Opinion Quarterly, vol. 81, no. 3, pp. 736-747.
Kennickell, Arthur B. (2017). "Lining Up: Survey and Administrative Data Estimates of Wealth
Concentration," Finance and Economics Discussion Series 2017-017. Board of Governors of the Federal
Reserve System (U.S.).
Kurz, Christopher, Geng Li, and Daniel Vine (2016). "The Young and the Carless? The Demographics of
New Vehicle Purchases," FEDS Notes 2016-06-24. Board of Governors of the Federal Reserve System
(U.S.).
42
Larrimore, Jeff (2016). "Holiday Spending and Financing Decisions in the 2015 Survey of Household
Economics and Decisionmaking," FEDS Notes 2016-12-01. Board of Governors of the Federal Reserve
System (U.S.).
Larrimore, Jeff, Jacob Mortenson, and David Splinter (forthcoming). "Income and Earnings Mobility in
U.S. Tax Data," Federal Reserve Community Development Conference Proceedings.
Laufer, Steven, and Andrew Paciorek (2016). "The Effects of Mortgage Credit Availability: Evidence from
Minimum Credit Score Lending Rules," Finance and Economics Discussion Series 2016-098. Board of
Governors of the Federal Reserve System (U.S.).
Li, Geng, Weifeng Wu, and Vincent Yao (2016). "Do People Leave Money on the Table? Evidence from
Joint Mortgage Applications and the Minimum FICO Rule," FEDS Notes 2016-03-28. Board of Governors
of the Federal Reserve System (U.S.).
Liskovich, Inessa, and Maya Shaton (2017). "Borrowers in Search of Feedback: Evidence from Consumer
Credit Markets," Finance and Economics Discussion Series 2017-049. Board of Governors of the Federal
Reserve System (U.S.).
Mezza, Alvaro, and Kamila Sommer (2016). "A Trillion Dollar Question: What Predicts Student Loan
Delinquencies?" Journal of Student Financial Aid, vol. 46, no. 3.
Roth Tran, Brigitte (2016). "Essays on Finance, the Environment, and Philanthropy," Ph.D. dissertation,
University of California, San Diego.
Roth Tran, Brigitte (2017). "Divest, Disregard, or Double Down?" Finance and Economics Discussion
Series 2017-042. Board of Governors of the Federal Reserve System (U.S.).
Shaton, Maya (2017). "The Display of Information and Household Investment Behavior," Finance and
Economics Discussion Series 2017-043. Board of Governors of the Federal Reserve System (U.S.).
Thompson, Jeffrey (forthcoming). "Rising Top Incomes and Increased Borrowing in the Rest of the
Distribution," Economic Inquiry.
Tito, Maria D. (2016). "Welfare Evaluation in a Heterogeneous Agent Model: How Representative is the
CES Representative Consumer?" Economics Letters, vol. 143, pp. 99-102.
MONETARY ECONOMICS
Ajello, Andrea, Thomas Laubach, David Lopez-Salido, and Taisuke Nakata (2016). "Financial Stability and
Optimal Interest-Rate Policy," Finance and Economics Discussion Series 2016-067. Board of Governors of
the Federal Reserve System (U.S.).
Altavilla, Carlo, Domenico Giannone, and Michele Modugno (forthcoming). "Low Frequency Effects of
Macroeconomic News on Government Bond Yields," Journal of Monetary Economics.
Andersen, Leif, Michael Pykhtin, and Alexander Sokol (2017). "Rethinking the Margin Period of Risk,"
Journal of Credit Risk, vol. 13, no. 1, pp. 1-45.
43
Anderson, Alyssa G., Jane E. Ihrig, Ellen E. Meade, and Gretchen C. Weinbach (2016). "What Happened
in Money Markets After the Fed's December Rate Increase?" FEDS Notes 2016-02-22. Board of
Governors of the Federal Reserve System (U.S.).
Bech, Morten Linnemann, and Aytek Malkhozov (2016). "How Have Central Banks Implemented
Negative Policy Rates?" BIS Quarterly Review, March, pp. 31-44.
Benjamin K. Johannsen, and Elmar Mertens (2016). "The Expected Real Interest Rate in the Long Run:
Time Series Evidence with the Effective Lower Bound," FEDS Notes 2016-02-09. Board of Governors of
the Federal Reserve System (U.S.).
Bodenstein, Martin, Christopher J. Erceg, and Luca Guerrieri (2017). "The Effects of Foreign Shocks
When Interest Rates are at Zero," Canadian Journal of Economics, vol. 50, no. 3, pp. 660-684.
Caggese, Andrea, and Ander Pérez-Orive (2017). "Capital Misallocation and Secular Stagnation," Finance
and Economics Discussion Series 2017-009. Board of Governors of the Federal Reserve System (U.S.).
Chang, Andrew C., and Tyler J. Hanson (2016). "The Accuracy of Forecasts Prepared for the Federal Open
Market Committee," Journal of Economics and Business, vol. 83, pp. 23-43.
Chen, Han (2017). "The Effects of the Near-Zero Interest Rate Policy in a Regime-Switching Dynamic
Stochastic General Equilibrium Model," Journal of Monetary Economics, vol. 90, pp. 176-192.
Claessens, Stijn, Nicholas Coleman, and Michael Donnelly (2017). "'Low-For-Long' Interest Rates and
Banks' Interest Margins and Profitability: Cross-Country Evidence," CEPR Discussion Papers 11842.
Centre for Economic Policy Research.
Claessens, Stijn, Nicholas Coleman, and Michael Donnelly (2017). "'Low-For-Long' Interest Rates and
Banks' Interest Margins and Profitability: Cross-Country Evidence," International Finance Discussion
Papers 1197. Board of Governors of the Federal Reserve System (U.S.).
DeFusco, Anthony A., and Andrew Paciorek (2017). "The Interest Rate Elasticity of Mortgage Demand:
Evidence from Bunching at the Conforming Loan Limit," American Economic Journal: Economic Policy,
vol. 9, no. 1, pp. 210-240.
Dias, Daniel A., and João B. Duarte (2016). "The Effect of Monetary Policy on Housing Tenure Choice as
an Explanation for the Price Puzzle," International Finance Discussion Papers 1171. Board of Governors
of the Federal Reserve System (U.S.).
Dräger, Lena, Michael J. Lamla, and Damjan Pfajfar (2016). "Are Survey Expectations Theory-Consistent?
The Role of Central Bank Communication and News," European Economic Review, vol. 85, pp. 84-111.
Edge, Rochelle M., and Jeremy B. Rudd (2016). "Real-Time Properties of the Federal Reserve's Output
Gap," Review of Economics and Statistics, vol. 98, no. 4, pp. 785-791.
Laubach, Thomas, and John C. Williams (2016). "Measuring the Natural Rate of Interest Redux," Business
Economics, vol. 51, no. 2, pp. 57-67.
Lin, Li, Dimitrios P. Tsomocos, and Alexandros P. Vardoulakis (2016). "On Default and Uniqueness of
Monetary Equilibria," Economic Theory, vol. 62, no. 1, pp. 245-264.
44
Miller, David S. (2016). "Commitment versus Discretion in a Political Economy Model of Fiscal and
Monetary Policy Interaction," Journal of Monetary Economics, vol. 84, pp. 17-29.
Nakamura, Emi, Jón Steinsson, Patrick Sun, and Daniel Villar (2016). "The Elusive Costs of Inflation: Price
Dispersion During the U.S. Great Inflation," NBER Working Paper, no. 22505. National Bureau of
Economic Research, Inc.
Nelson, Edward (2016). "Milton Friedman and the Federal Reserve Chairs in the 1970s," in Cord, Robert
A., and J. Daniel Hammond eds., Milton Friedman: Contributions to Economics and Public Policy. Oxford,
U.K.: Oxford University Press, pp. 313-333.
Scotti, Chiara (2016). "Surprise and Uncertainty Indexes: Real-Time Aggregation of Real-Activity Macro
Surprises," Journal of Monetary Economics, vol. 82, pp. 1-19.
Skaperdas, Arsenios (2016). "Essays in Monetary Economics," Ph.D. dissertation, University of California
Santa Cruz.
Villar, Daniel (2016). "Essays on Sticky Prices and High Inflation Environments," Ph.D. dissertation,
Columbia University.
MONETARY POLICY
Anderson, Alyssa G., and John Kandrac (2016). "Monetary Policy Implementation and Private Repo
Displacement: Evidence from the Overnight Reverse Repurchase Facility," Finance and Economics
Discussion Series 2016-096. Board of Governors of the Federal Reserve System (U.S.).
Anderson, Alyssa, Jane Ihrig, Mary-Frances Styczynski, and Gretchen C. Weinbach (2017). "How Have the
Fed's Three Rate Hikes Passed Through to Selected Short-term Interest Rates?" FEDS Notes 2017-06-02.
Board of Governors of the Federal Reserve System (U.S.).
Arseneau, David M. (2017). "How Would US Banks Fare in a Negative Interest Rate Environment?"
Finance and Economics Discussion Series 2017-030. Board of Governors of the Federal Reserve System
(U.S.).
Arseneau, David M., David E. Rappoport, and Alexandros P. Vardoulakis (2017). "Private and Public
Liquidity Provision in Over-the-Counter Markets," Finance and Economics Discussion Series 2017-033.
Board of Governors of the Federal Reserve System (U.S.).
Benigno, Pierpaolo, and David Lopez Salido (Forthcoming). "Should the ECB Abandon HICP Targeting?" in
Beetsma, Roel, Carlo Favero, Alessandro Missale, Anton Muscatelli, Piergiovanna Natale and Patrizio
Tirelli eds., European Macroeconomic Policies After Monetary Unification: Fiscal Policies, Monetary
Policies and Labor Markets. Cambridge and New York: Cambridge University Press.
Bodenstein, Martin, and Junzhu Zhao (2017). "Employment, Wages and Optimal Monetary Policy,"
Finance and Economics Discussion Series 2017-091. Board of Governors of the Federal Reserve System
(U.S.).
Bodenstein, Martin, and Junzhu Zhao (2017). "On Targeting Frameworks and Optimal Monetary Policy,"
Finance and Economics Discussion Series 2017-098. Board of Governors of the Federal Reserve System
(U.S.).
45
Bongard, Michelle, and Benjamin K. Johannsen (2016). "The Neutral Rate and the Summary of Economic
Projections," FEDS Notes 2016-11-28. Board of Governors of the Federal Reserve System (U.S.).
Bongard, Michelle, Gabriele Galati, Richhild Moessner, and William Nelson (2016). "Connecting the Dots:
Market Reactions to Forecasts of Policy Rates and Forward Guidance Provided by the Fed," DNB
Working Paper 523. Netherlands Central Bank.
Bonis, Brian, Jane Ihrig, and Min Wei (2017). "The Effect of the Federal Reserve's Securities Holdings on
Longer-term Interest Rates," FEDS Notes 2017-04-20. Board of Governors of the Federal Reserve System
(U.S.).
Bonis, Brian, John Kandrac, and Luke Pardue (2017). "Principal Payments on the Federal Reserve's
Securities Holdings," FEDS Notes 2017-06-17. Board of Governors of the Federal Reserve System (U.S.).
Carlson, Mark A., and David C. Wheelock (2016). "Near-Money Premiums, Monetary Policy, and the
Integration of Money Markets: Lessons from Deregulation," Working Papers 2016-015. Federal Reserve
Bank of St. Louis.
Carlson, Mark, and Burcu Duygan-Bump (2016). "The Tools and Transmission of Federal Reserve
Monetary Policy in the 1920s," FEDS Notes 2016-11-22. Board of Governors of the Federal Reserve
System (U.S.).
Carlson, Mark, and David C. Wheelock (2016). "Near-Money Premiums, Monetary Policy, and the
Integration of Money Markets: Lessons from Deregulation," Finance and Economics Discussion Series
2016-077. Board of Governors of the Federal Reserve System (U.S.).
Carpenter, Seth B., Selva Demiralp, and Zeynep Senyuz (2016). "Volatility in the Federal Funds Market
and Money Market Spreads During the Financial Crisis," Journal of Financial Stability, vol. 25, pp. 225-
233.
Carpinelli, Luisa, and Matteo Crosignani (2017). "The Effect of Central Bank Liquidity Injections on Bank
Credit Supply," Finance and Economics Discussion Series 2017-038. Board of Governors of the Federal
Reserve System (U.S.).
Chen, Han (forthcoming). "The Effects of the Near-Zero Interest Rate Policy in a Regime-Switching
Dynamic Stochastic General Equilibrium Model," Journal of Monetary Economics.
Crosignani, Matteo, Miguel Faria-e-Castro, and Luís Fonseca (2017). "The (Unintended?) Consequences
of the Largest Liquidity Injection Ever," Finance and Economics Discussion Series 2017-011. Board of
Governors of the Federal Reserve System (U.S.).
De Paoli, Bianca, and Matthias Paustian (2017). "Coordinating Monetary and Macroprudential Policies,"
Journal of Money, Credit, and Banking, vol. 49, no. 2-3. pp. 319-349.
DellAriccia, Giovanni, Luc Laeven, and Gustavo Suarez (2017). "Bank Leverage and Monetary Policy's
Risk-Taking Channel: Evidence from the United States," Journal of Finance, vol. 72, no. 2, pp. 613-654.
Demiralp, Selva, Sharmila King, and Chiara Scotti (2016). "Does Anyone Listen when Politicians Talk? The
Effect of Political Commentaries on Policy Rate Decisions and Expectations," Finance and Economics
Discussion Series 2016-058. Board of Governors of the Federal Reserve System (U.S.).
46
Diercks, Anthony M., and William Waller (2017). “Taxes and the Fed: Theory and Evidence from
Equities,” Finance and Economics Discussion Series 2017-104. Board of Governors of the Federal
Reserve System (U.S.).
Eichenbaum, Martin, Benjamin K. Johannsen, and Sergio Rebelo (2017). "Monetary Policy and the
Predictability of Nominal Exchange Rates," NBER Working Paper, no. 23158. National Bureau of
Economic Research, Inc.
Ferris, Erin E. Syron, Soo Jeong Kim, and Bernd Schlusche (2017). "Confidence Interval Projections of the
Federal Reserve Balance Sheet and Income," FEDS Notes 2017-01-13. Board of Governors of the Federal
Reserve System (U.S.).
Gagnon, Joseph E., Tamim Bayoumi, Juan M. Londono, Christian Saborowski, and Horacio Sapriza (2017).
"Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies," Open Economies
Review, vol. 28, no. 2, pp. 191-232.
Gagnon, Joseph E., Tamim Bayoumi, Juan M. Londono, Christian Saborowski, and Horacio Sapriza (2017).
"Unconventional Monetary and Exchange Rate Policies," International Finance Discussion Papers 1194.
Board of Governors of the Federal Reserve System (U.S.).
Gilchrist, Simon, Vivian Z. Yue, and Egon Zakrajšek (2016). "The Response of Sovereign Bond Yields to
U.S. Monetary Policy," in Albagli, Elias, Diego Saravia, and Michael Woodford eds., Monetary Policy
through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated
World. Central Banking, Analysis, and Economic Policies Book Series, no. 24. Santiago: Central Bank of
Chile, pp. 257-283.
Gourio, François, Anil K. Kashyap, and Jae Sim (2017). "The Tradeoffs in Leaning Against the Wind," NBER
Working Paper, no. 23658. National Bureau of Economic Research, Inc.
Grundl, Serafin, and Yu Zhu (2016). "Identification and Estimation of Risk Aversion in First Price Auctions
with Unobserved Auction Heterogeneity," Staff Working Paper 2016-23. Bank of Canada.
Gust, Christopher, Benjamin K. Johannsen, and J. David Lopez-Salido (2017). "Monetary Policy,
Incomplete Information, and the Zero Lower Bound," IMF Economic Review, vol. 65, no. 1, pp. 37-70.
Gust, Christopher, Edward Herbst, David López-Salido, and Matthew E. Smith (2017). "The Empirical
Implications of the Interest-Rate Lower Bound," American Economic Review, vol. 107, no. 7, pp. 1971-
2006.
Hills, Timothy S., Taisuke Nakata, and Sebastian Schmidt (2016). "The Risky Steady State and the Interest
Rate Lower Bound," Finance and Economics Discussion Series 2016-009. Board of Governors of the
Federal Reserve System (U.S.).
Hills, Timothy, Taisuke Nakata, and Sebastian Schmidt (2016). "The Risk of Returning to the Effective
Lower Bound: An Implication for Inflation Dynamics After Lift-Off," FEDS Notes 2016-02-12. Board of
Governors of the Federal Reserve System (U.S.).
Holston, Kathryn, Thomas Laubach, and John C. Williams (2017). "Measuring the Natural Rate of
Interest: International Trends and Determinants," Journal of International Economics, vol. 108,
Supplement 1, S59-S75.
47
Husted, Lucas F., John Harold Rogers, and Bo Sun (2016). "Measuring Monetary Policy Uncertainty: The
Federal Reserve, January 1985-January 2016," IFDP Notes 2016-04-11. Board of Governors of the
Federal Reserve System (U.S.).
Husted, Lucas, John Rogers, and Bo Sun (2016). "Measuring Cross Country Monetary Policy Uncertainty,"
IFDP Notes 2016-11-23. Board of Governors of the Federal Reserve System (U.S.).
Huther, Jeffrey, Jane Ihrig, and Elizabeth Klee (2017). "The Federal Reserve's Portfolio and its Effect on
Interest Rates," Finance and Economics Discussion Series 2017-075. Board of Governors of the Federal
Reserve System (U.S.).
Ihrig, Jane E., Ellen E. Meade, and Gretchen C. Weinbach (2016). "The Federal Reserve's New Approach
to Raising Interest Rates," FEDS Notes 2016-02-12. Board of Governors of the Federal Reserve System
(U.S.).
Ihrig, Jane, Lawrence Mize, and Gretchen C. Weinbach (2017). "How Does the Fed Adjust its Securities
Holdings and Who is Affected?" Finance and Economics Discussion Series 2017-099. Board of Governors
of the Federal Reserve System (U.S.).
Ippolito, Filippo, Ali K. Ozdagli, and Ander Perez-Orive (2017). "The Transmission of Monetary Policy
through Bank Lending: The Floating Rate Channel," Finance and Economics Discussion Series 2017-026.
Board of Governors of the Federal Reserve System (U.S.).
Josselyn, Melanie, and Ellen E. Meade (2017). "The FOMC Meeting Minutes: An Update of Counting
Words," FEDS Notes 2017-08-03. Board of Governors of the Federal Reserve System (U.S.).
Kiley, Michael T., and John M. Roberts (2017). "Monetary Policy in a Low Interest Rate World," Finance
and Economics Discussion Series 2017-080. Board of Governors of the Federal Reserve System (U.S.).
Kim, Don, and Hiroatsu Tanaka (2016). "Front-End Term Premiums in Federal Funds Futures Rates and
Implied Probabilities of Future Rate Hikes," FEDS Notes 2016-11-18. Board of Governors of the Federal
Reserve System (U.S.).
Kurtzman, Robert, Stephan Luck, and Tom Zimmermann (2017). "Did QE Lead Banks to Relax Their
Lending Standards? Evidence from the Federal Reserve's LSAPs," Finance and Economics Discussion
Series 2017-093. Board of Governors of the Federal Reserve System (U.S.).
Lee, Seung Jung, Lucy Qian Liu, and Viktors Stebunovs (2017). "Risk Taking and Interest Rates: Evidence
from Decades in the Global Syndicated Loan Market," IMF Working Paper 17/16. International Monetary
Fund.
Lewis, Kurt F., and Francisco Vazquez-Grande (2017). "Measuring the Natural Rate of Interest:
Alternative Specifications," Finance and Economics Discussion Series 2017-059. Board of Governors of
the Federal Reserve System (U.S.).
Luo, Shaowen, and Daniel Villar (2017). "The Skewness of the Price Change Distribution: A New
Touchstone for Sticky Price Models," Finance and Economics Discussion Series 2017-028. Board of
Governors of the Federal Reserve System (U.S.).
48
Miller, Christian S., and Casey H. Clark (2016). "Where do I see the Monetary Policy Normalization Tools
on the Fed's Balance Sheet and Income Statement?" FEDS Notes 2016-05-11. Board of Governors of the
Federal Reserve System (U.S.).
Morais, Bernardo, Jose-Luis Peydro, and Claudia Ruiz (Forthcoming). "The International Bank Lending
Channel of Monetary Policy Rates and QE: Credit Supply, Reach-for-Yield, and Real Effects," Journal of
Finance.
Naber, Jeffrey M., Richard Sambasivam, and Mary-Frances Styczynski (2017). "Demand for Voluntary
Balance Requirements: the U.S. Experience with Contractual Clearing Balances from 2000 to 2007," FEDS
Notes 2017-01-04. Board of Governors of the Federal Reserve System (U.S.).
Nakata, Taisuke (2016). "Optimal Fiscal and Monetary Policy with Occasionally Binding Zero Bound
Constraints," Journal of Economic Dynamics and Control, vol. 73, pp. 220-240.
Nakata, Taisuke (2017). "Model-Based Measures of ELB Risk," FEDS Notes 2017-08-23. Board of
Governors of the Federal Reserve System (U.S.).
Nakata, Taisuke (2017). "Uncertainty at the Zero Lower Bound," American Economic Journal:
Macroeconomics, vol. 9, no. 3, pp. 186-221.
Nakata, Taisuke, and Hiroatsu Tanaka (2016). "Equilibrium Yield Curves and the Interest Rate Lower
Bound," Finance and Economics Discussion Series 2016-085. Board of Governors of the Federal Reserve
System (U.S.).
Nakata, Taisuke, and Sebastian Schmidt (2016). "The Risk-Adjusted Monetary Policy Rule," Working
Paper Series 1985. European Central Bank.
Paligorova, Teodora, and João A. C. Santos (2017). "Monetary Policy and Bank Risk-Taking: Evidence
from the Corporate Loan Market," Journal of Financial Intermediation, vol. 30, pp. 35-49.
Pfajfar, Damjan, and Blaž Žakelj (2016). "Uncertainty in Forecasting Inflation and Monetary Policy
Design: Evidence from the Laboratory," International Journal of Forecasting, vol. 32, no. 3, pp. 849-864.
Pfajfar, Damjan, and Blaz Žakelj (forthcoming). "Inflation Expectations and Monetary Policy Design:
Evidence from the Laboratory," Macroeconomic Dynamics.
Reifschneider, David (2016). "Gauging the Ability of the FOMC to Respond to Future Recessions,"
Finance and Economics Discussion Series 2016-068. Board of Governors of the Federal Reserve System
(U.S.).
Reifschneider, David, and Peter Tulip (2017). "Gauging the Uncertainty of the Economic Outlook Using
Historical Forecasting Errors: The Federal Reserve's Approach," RBA Research Discussion Paper 2017- 01.
Reserve Bank of Australia.
Rogers, John H., Chiara Scotti, and Jonathan H. Wright (2016). "Unconventional Monetary Policy and
International Risk Premia," International Finance Discussion Papers 1172. Board of Governors of the
Federal Reserve System (U.S).
Seldin, Sian L. (2016). "Federal Reserve Board Statistical Releases: A Publications History," Finance and
Economics Discussion Series 2016-016. Board of Governors of the Federal Reserve System (U.S.).
49
Skaperdas, Arsenios (2017). "How Effective is Monetary Policy at the Zero Lower Bound? Identification
Through Industry Heterogeneity," Finance and Economics Discussion Series 2017-073. Board of
Governors of the Federal Reserve System (U.S.).
PAYMENT SYSTEMS
Aramonte, Sirio, Cecilia Caglio, and Tugkan Tuzun (2017). "Synthetic ETFs," FEDS Notes 2017-08-10.
Board of Governors of the Federal Reserve System (U.S.).
Baughman, Garth (2016). "Deadlines and Matching," Finance and Economics Discussion Series 2016-014.
Board of Governors of the Federal Reserve System (U.S.).
Elliehausen, Gregory, and Simona M. Hannon (2017). "The Credit Card Act and Consumer Finance
Company Lending," Finance and Economics Discussion Series 2017-072. Board of Governors of the
Federal Reserve System (U.S.).
Husted, Lucas, John Rogers, and Bo Sun (2017). "Uncertainty, Currency Excess Returns, and Risk
Reversals," International Finance Discussion Papers 1196. Board of Governors of the Federal Reserve
System (U.S.).
Manuszak, Mark D., and Krzysztof Wozniak (2017). "The Impact of Price Controls in Two-sided Markets:
Evidence from US Debit Card Interchange Fee Regulation," Finance and Economics Discussion Series
2017-074. Board of Governors of the Federal Reserve System (U.S.).
Mills, David, Kathy Wang, Brendan Malone, Anjana Ravi, Jeff Marquardt, Clinton Chen, Anton Badev,
Timothy Brezinski, Linda Fahy, Kimberley Liao, Vanessa Kargenian, Max Ellithorpe, Wendy Ng, and Maria
Baird (2016). "Distributed Ledger Technology in Payments, Clearing, and Settlement," Finance and
Economics Discussion Series 2016-095. Board of Governors of the Federal Reserve System (U.S.).
Rosenbaum, Aaron, Garth Baughman, Mark Manuszak, Kylie Stewart, Fumiko Hayashi, and Joanna
Stavins (2017). "Faster Payments: Market Structure and Policy Considerations," Finance and Economics
Discussion Series 2017-100. Board of Governors of the Federal Reserve System (U.S.).
PUBLIC ECONOMICS
Aladangady, Aditya, Shifrah Aron-Dine, Wendy Dunn, Laura Feiveson, Paul Lengermann, and Claudia
Sahm (2017). "The Effect of Sales-Tax Holidays on Consumer Spending," FEDS Notes 2017-03-24. Board
of Governors of the Federal Reserve System (U.S.).
Biljanovska, Nina, and Alexandros P. Vardoulakis (2017). "Capital Taxation with Heterogeneous
Discounting and Collateralized Borrowing," Finance and Economics Discussion Series 2017-053. Board of
Governors of the Federal Reserve System (U.S.).
Blanchard, Olivier, Christopher J. Erceg, and Jesper Lindé (2017). "Jump-Starting the Euro Area Recovery:
Would a Rise in Core Fiscal Spending Help the Periphery?" in Eichenbaum, Martin, and Jonathan A.
Parker eds. NBER Macroeconomics Annual 2016. National Bureau of Economic Research, vol. 31, pp.
103-182.
Bulman, George, Robert Fairlie, Sarena Goodman, and Adam Isen (2016). "Parental Resources and
College Attendance: Evidence from Lottery Wins," NBER Working Paper, no. 22679. National Bureau of
Economic Research, Inc.
50
Calvo-Gonzalez, Oscar, Barbara Cunha, and Riccardo Trezzi (2017). "When Winners Feel Like Losers:
Evidence from an Energy Subsidy Reform," The World Bank Economic Review, vol. 31, no. 2, pp. 329-350.
Cashin, David (2017). "The Household Expenditure Response to a Consumption Tax Rate Increase,"
Finance and Economics Discussion Series 2017-035. Board of Governors of the Federal Reserve System
(U.S.).
Cashin, David, and Takashi Unayama (2016). "The Impact of a Permanent Income Shock on
Consumption: Evidence from Japan's 2014 VAT Increase," RIETI Discussion Paper Series 16-E-052. The
Research Institute of Economy, Trade and Industry.
Cashin, David, Jamie Lenney, Byron Lutz, and William Peterman (2017). "Fiscal Policy and Aggregate
Demand in the U.S. Before, During and Following the Great Recession," Finance and Economics
Discussion Series 2017-061. Board of Governors of the Federal Reserve System (U.S.).
Chang, Andrew C., (forthcoming). "Tax Policy Endogeneity: Evidence from R&D Tax Credits," Economics
of Innovation and New Technology.
Devlin-Foltz, Sebastian, Alice M. Henriques, and John E. Sabelhaus (2016). "The Role of Social Security in
Overall Retirement Resources: A Distributional Perspective," FEDS Notes 2016-07-29. Board of
Governors of the Federal Reserve System (U.S.).
Dobridge, Christine L. (2016). "Fiscal Stimulus and Firms: A Tale of Two Recessions," Finance and
Economics Discussion Series 2016-013. Board of Governors of the Federal Reserve System (U.S.).
English, William B., Christopher J. Erceg, and David Lopez-Salido (2017). "Money-Financed Fiscal
Programs: A Cautionary Tale," Finance and Economics Discussion Series 2017-060. Board of Governors
of the Federal Reserve System (U.S.).
Feldman, Naomi E., Peter Katuscak, and Laura Kawano (2016). "Taxpayer Confusion: Evidence from the
Child Tax Credit," American Economic Review, vol. 106, no. 3, pp. 807-835.
Fried, Stephie, Kevin Novan, and William B. Peterman (2016). "The Distributional Effects of a Carbon Tax
on Current and Future Generations," Finance and Economics Discussion Series 2016-038. Board of
Governors of the Federal Reserve System (U.S.).
Jain, Anil (2017). "Efficient Public Good Provision in Networks: Revisiting the Lindahl Solution,"
International Finance Discussion Papers 1210. Board of Governors of the Federal Reserve System (U.S.).
Larrimore, Jeff, Jacob Mortenson, and David Splinter (2017). "Household Incomes in Tax Data: Using
Addresses to Move from Tax Unit to Household Income Distributions," Finance and Economics
Discussion Series 2017-002. Board of Governors of the Federal Reserve System (U.S.).
Larrimore, Jeff, Richard V. Burkhauser, Gerald Auten, and Philip Armour (2016). "Recent Trends in U.S.
Top Income Shares in Tax Record Data Using More Comprehensive Measures of Income Including
Accrued Capital Gains," NBER Working Paper, no. 23007. National Bureau of Economic Research, Inc.
Liu, Li, Tim Schmidt-Eisenlohr, and Dongxian Guo (2017). “International Transfer Pricing and Tax
Avoidance: Evidence from Linked Trade-Tax Statistics in the UK,” International Finance Discussion Papers
1214. Board of Governors of the Federal Reserve System (U.S.).
51
Liu, Li, Tim Schmidt-Eisenlohr, and Dongxian Guo (2017). "International Transfer Pricing and Tax
Avoidance: Evidence from Linked Trade-Tax Statistics in the UK," CESifo Working Paper, no. 6594. CESifo
Group Munich.
Moore, Kevin B., Sarah J. Pack, and John Sabelhaus (2016). "Taxing Income of Top Wealth Holders,"
National Tax Journal, vol. 69, no. 4, pp. 965-980.
Nakata, Taisuke (2017). "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian
Analysis," Review of Economic Dynamics, vol. 23, pp. 150-169.
Peterman, William B. (2016). "The Effect of Endogenous Human Capital Accumulation on Optimal
Taxation," Review of Economic Dynamics, vol. 21, pp. 46-71.
Schuetz, Jenny, Genevieve Giuliano, and Eun Jin Shin (2016). "Is Los Angeles Becoming Transit
Oriented?" Finance and Economics Discussion Series 2016-004. Board of Governors of the Federal
Reserve System (U.S.).
Splinter, David, Jeff Larrimore, and Jacob Mortenson (2017). "Whose Child Is This? Shifting of
Dependents Among EITC Claimants Within the Same Household," Finance and Economics Discussion
Series 2017-089. Board of Governors of the Federal Reserve System (U.S.).
Trezzi, Riccardo, and Francesco Porcelli (2016). "Reconstruction Multipliers," Cambridge Working Papers
in Economics 1649. Faculty of Economics, University of Cambridge.
REAL ESTATE AND URBAN ECONOMICS
Anenberg, Elliot (2016). "Information Frictions and Housing Market Dynamics," International Economic
Review, vol. 57, no. 4, pp. 1449-1479.
Anenberg, Elliot, and Steven Laufer (2017). "A More Timelier House Price Index," Review of Economics
and Statistics, vol. 99, no. 4, pp. 722-734.
Anenberg, Elliot, Aurel Hizmo, Edward Kung, and Raven Molloy (2017). "Measuring Mortgage Credit
Availability: A Frontier Estimation Approach," Finance and Economics Discussion Series 2017-101. Board
of Governors of the Federal Reserve System (U.S.).
Bhutta, Neil, and Daniel Ringo (2016). "Changing FHA Mortgage Insurance Premiums and the Effects on
Lending," FEDS Notes 2016-09-26. Board of Governors of the Federal Reserve System (U.S.).
Bhutta, Neil, and Daniel Ringo (2017). "The Effect of Interest Rates on Home Buying: Evidence from a
Discontinuity in Mortgage Insurance Premiums," Finance and Economics Discussion Series 2017-086.
Board of Governors of the Federal Reserve System (U.S.).
Black, Lamont, John Krainer, and Joseph Nichols (2017). "Safe Collateral, Arm's-Length Credit: Evidence
from the Commercial Real Estate Mortgage Market," Finance and Economics Discussion Series 2017-
056. Board of Governors of the Federal Reserve System (U.S.).
Borochin, Paul, John L. Glascock, Ran Lu-Andrews, and Jie Yang (2017). "Using Option Market Liquidity to
Predict REIT Leverage Changes," Journal of Real Estate Finance and Economics, vol. 55, no. 2, pp. 135-
154.
52
Bunten, Devin (2016). "Essays on the Economics of Space," Ph.D. dissertation, University of California,
Los Angeles.
Bunten, Devin (2017). "Is the Rent Too High? Aggregate Implications of Local Land-Use Regulation,"
Finance and Economics Discussion Series 2017-064.Board of Governors of the Federal Reserve System
(U.S.).
Bunten, Devin, and Matthew E. Kahn (2017). "Optimal Real Estate Capital Durability and Localized
Climate Change Disaster Risk," Journal of Housing Economics, vol. 36, pp. 1-7.
Favara, Giovanni, and Mariassunta Giannetti (2017). "Forced Asset Sales and the Concentration of
Outstanding Debt: Evidence from the Mortgage Market," Journal of Finance, vol. 72, no. 3, pp. 1081-
1118.
Freeman, Lance, and Jenny Schuetz (2017). "Producing Affordable Housing in Rising Markets: What
Works?" Cityscape: A Journal of Policy Development and Research, vol. 19, no. 1, pp. 217-236.
Larrimore, Jeff, Jenny Schuetz, and Samuel Dodini (2016). "What are the Perceived Barriers to
Homeownership for Young Adults?" Finance and Economics Discussion Series 2016-021. Board of
Governors of the Federal Reserve System (U.S.).
Lutz, Byron, and Leah Brooks (2016). "From Today's City to Tomorrow's City: An Empirical Investigation
of Urban Land Assembly," American Economic Journal: Economic Policy, vol. 8, no. 3, pp. 69-105.
Mezza, Alvaro A., Daniel R. Ringo, Shane M. Sherlund, and Kamila Sommer (2016). "Student Loans and
Homeownership," Finance and Economics Discussion Series 2016-010r. Board of Governors of the
Federal Reserve System (U.S.).
Molloy, Raven (2016). "Long-Term Vacant Housing in the United States," Regional Science and Urban
Economics, vol. 59, pp. 118-129.
Paciorek, Andrew D. (2016). "The Long and the Short of Household Formation," Real Estate Economics,
vol. 44, no. 1, pp. 7-40.
Passmore, Wayne, and Alexander H. von Hafften (2017). "Improving the 30-Year Fixed-Rate Mortgage,"
Finance and Economics Discussion Series 2017-090. Board of Governors of the Federal Reserve System
(U.S.).
Rappoport, David E. (2016). "Do Mortgage Subsidies Help or Hurt Borrowers?" Finance and Economics
Discussion Series 2016-081. Board of Governors of the Federal Reserve System (U.S.).
Schmeiser, Maximilian, and Matthew B. Gross (2016). "The Determinants of Subprime Mortgage
Performance Following a Loan Modification," Journal of Real Estate Finance and Economics, vol. 52, no.
1, pp. 1-27.
Schuetz, Jenny, Genevieve Giuliano, and Eun Jin Shin (forthcoming). "Does Zoning Help or Hinder
Transit-Oriented (Re)Development?" Urban Studies.
Schuetz, Jenny, Jonathan Spader, and Alvaro Cortes (2016). "Have Distressed Neighborhoods
Recovered? Evidence from the Neighborhood Stabilization Program," Journal of Housing Economics, vol.
34, pp. 30-48.
53
Sommer, Kamila, and Paul Sullivan (forthcoming). "Implications of U.S. Tax Policy for House Prices,
Rents, and Homeownership," American Economic Review.
Spader, Jonathan, Jenny Schuetz, and Alvaro Cortes (2016). "Fewer Vacants, Fewer Crimes? Impacts of
Neighborhood Revitalization Policies on Crime," Regional Science and Urban Economics, vol. 60, pp. 73-
84.
top related