Welcoming Remarks: Thirteenth Annual International Banking Conference
Welcoming remarks delivered by Charles Evans before the Thirteenth Annual International Banking Conference on September 23, 2010, in Chicago, IL.
Nominal rigidities and the dynamic effects of a shock to monetary policy
We present a model embodying moderate amounts of nominal rigidities which accounts for the observed inertia in inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average duration three quarters, and variable capital utilization.
Among Opposing Forces
Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago McLean County Chamber of Commerce, Bloomington, Illinois
A policymaker's guide to indicators of economic activity
Economic Outlook and Policy
Remarks delivered by Charles Evans before the Evanston Civic Leaders Breakfast on October 19, 2010, in Evanston, Ill.
Challenges that the recent financial market turmoil places on our macroeconomic modeling toolkit
Remarks at the Swiss National Bank Research Conference, Zurich, Switzerland, September 19, 2008
Data revisions and the identification of monetary policy shocks
Monetary policy research using time series methods has been criticized for using more information than the Federal Reserve had available in setting policy. To quantify the role of this criticism, we propose a method to estimate a VAR with real-time data while accounting for the latent nature of many economic variables, such as output. Our estimated monetary policy shocks are closely correlated with a typically estimated measure. The impulse response functions are broadly similar across the methods. Our evidence suggests that the use of revised data in VAR analyses of monetary policy shocks ...
Challenges that the Recent Financial Market Turmoil Places on our Macroeconomic Toolkit
Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Swiss National Bank Research Conference Zurich, Switzerland
Some Thoughts on the Current Economic Situation
Remarks for the University Club of Chicago, June 8, 2010 Chicago, IL