Hedge funds and systemic risk
a speech at the Federal Reserve Bank of Atlanta?s 2006 Financial Markets Conference, Sea Island, Georgia
Credit in the macroeconomy
Measuring the effects of monetary policy: a factor-augmented vector autoregressive (FAVAR) approach
Structural vector autoregressions (VARs) are widely used to trace out the effect of monetary policy innovations on the economy. However, the sparse information sets typically used in these empirical models lead to at least two potential problems with the results. First, to the extent that central banks and the private sector have information not reflected in the VAR, the measurement of policy innovations is likely to be contaminated. A second problem is that impulse responses can be observed only for the included variables, which generally constitute only a small subset of the variables that ...
Global imbalances: recent developments and prospects
a speech at the Bundesbank Lecture, Berlin, Germany
Community revitalization: lessons from Anacostia
a speech at Operation HOPE?s Anacostia Economic Summit, Washington, D.C.
Remarks at ceremonial swearing-in
Remarks at ceremonial swearing-in by President Bush: at the Federal Reserve Board of Governors, Washington, D.C.