Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Report
Application of weighted residual methods to dynamic economic models
McGrattan, Ellen R. (1998)
Staff Report , Paper 232

Report
Migration, Congestion Externalities, and the Evaluation of Spatial Investments
Schulhofer-Wohl, Sam; Dinkelman, Taryn (2015-01-09)
The direct benefits of infrastructure in developing countries can be large, but if new infrastructure induces in-migration, congestion of other local publicly provided goods may offset the direct benefits. Using the example of rural household electrification in South Africa, we demonstrate the importance of accounting for migration when evaluating welfare gains of spatial programs. We also provide a practical approach to computing welfare gains that does not rely on land prices. We develop a location choice model that incorporates missing land markets and allows for congestion in local land. ...
Staff Report , Paper 506

Report
The Macroeconomic Dynamics of Labor Market Policies
Hurst, Erik; Kehoe, Patrick J.; Pastorino, Elena; Winberry, Thomas (2025-03-28)
We develop a dynamic macroeconomic framework with worker heterogeneity, putty-clay adjustment frictions, and firm monopsony power to study the distributional impact of labor market policies over time. Our framework reconciles the well-known tension between low short-run and high long-run elasticities of substitution across inputs of production, especially among workers with different skills within a same education group. We use this framework to evaluate the effects of redistributive policies such as the minimum wage and the Earned Income Tax Credit. We argue that since these policies ...
Staff Report , Paper 668

Report
Branch regulation and its effect on commercial bank entry
Pakonen, Rodney (1970)
This study attempts to determine whether entry regulation is more restrictive in unit or branch banking states. ; A model is developed in which entry, defined as the formation of a new bank or branch, is explained as being a response to the general economic climate plus regulation. Using time series data and dating the onset of effective entry regulation with the passage of the banking Act of 1935, it is ascertained that effective entry regulation has caused the aggregate rate of entry into commercial banking to fall by about sixty percent. This analysis included adjustments for changes in ...
Staff Report , Paper 3

Report
Intellectual property and market size
Levine, David K.; Boldrin, Michele (2005)
Intellectual property protection involves a trade-off between the undesirability of monopoly and the desirable encouragement of creation and innovation. As the scale of the market increases, due either to economic and population growth or to the expansion of trade through treaties such as the World Trade Organization, this trade-off changes. We show that, generally speaking, the socially optimal amount of protection decreases as the scale of the market increases. We also provide simple empirical estimates of how much it should decrease.
Staff Report , Paper 360

Report
The heterogeneous state of modern macroeconomics: a reply to Solow
Chari, V. V.; Kehoe, Patrick J. (2007)
Robert Solow has criticized our 2006 Journal of Economic Perspectives essay describing ?Modern Macroeconomics in Practice.? Solow eloquently voices the commonly heard complaint that too much macroeconomic work today starts with a model with a single type of agent. We argue that modern macroeconomics may not end too far from where Solow prefers. He is also critical of how modern macroeconomists use data to construct models. Specifically, he seems to think that calibration is the only way that our models encounter data. To the contrary, we argue that modern macroeconomics uses a wide variety of ...
Staff Report , Paper 399

Report
An inquiry into shift-and-share analysis with application to the Ninth Federal Reserve District
Sher, Garson (1970)
Staff Report , Paper 4

Report
Shotgun Wedding: Fiscal and Monetary Policy
Sargent, Thomas J.; Bassetto, Marco (2020-04-08)
This paper describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation, and (c) conditions that secure a “nominal anchor” in the sense of a unique price level path. We contrast incomplete theories whose inputs are budget-feasible sequences of government issued bonds and money with complete theories whose inputs are bond-money strategies described as sequences of functions that map time t histories into time t government ...
Staff Report , Paper 599

Report
Forecasting with Bayesian vector autoregressions four years of experience
Litterman, Robert B. (1984)
Replaced by Working Paper 274 (July 1985)
Staff Report , Paper 95

Report
Monetary targeting in a dynamic macro model
Roberds, William (1987)
The consequences of a straightforward monetary targeting scheme are examined for a simple dynamic macro model. The notion of ?targeting? used is the strategic one introduced by Rogoff (1985). Numerical calculations are used to demonstrate that for the model under consideration, monetary targeting is likely to lead to a deterioration of policy performance. These examples cast doubt upon the general efficacy of simple targeting schemes in dynamic rational expectations models.
Staff Report , Paper 111

show more (223)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords