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Journal Article
US Bank Capital Regulation: History and Changes Since the Financial Crisis
Following the financial crisis of 2007-08, capital requirements were revised along a number of important dimensions with the intent of shoring up the banking system and reducing the likelihood of another crisis. Changes included new measures of capital and increased minimum requirements, with special emphasis on requirements for the largest and most systemically important banks. In this article, I survey the history of bank capital requirements and review the new capital rules.
AUTHORS: Walter, John R.
DATE: 2019

Journal Article
The Decline in Currency Use at a National Retail Chain
We bring new evidence to bear on the contributions of changing transaction sizes and changing demographics to the decline in cash payments at a national retail chain. On average, across the thousands of store locations in our study, the share of cash transactions fell by 8.6 percentage points from February 2011 to February 2015. Our statistical model attributes approximately 1.3 percentage points of that decline to increasing transaction sizes. Changes in demographic and other location-specific variables contribute between 0.5 and 1.3 percentage points, so our analysis attributes approximately three-quarters of the decline in cash use to a pure time effect. The time effect stands in for reductions in the cost and increases in the availability and security of debit and credit cards, improvements in consumers' perceptions of cards, and any other factors omitted from our analysis.
AUTHORS: Wolman, Alexander L.; Wang, Zhu
DATE: 2018

Journal Article
Survey measures of expected inflation : revisiting the issues of predictive content and rationality
AUTHORS: Mehra, Yash P.
DATE: 2002

Journal Article
Testing long-run neutrality
AUTHORS: Watson, Mark W.; King, Robert G.
DATE: 1997

Journal Article
Estimating a search and matching model of the aggregate labor market
The search and matching model of the labor market has become the workhorse for analyzing unemployment dynamics and the business cycle transmission mechanism. However, many quantitative studies of the search and matching framework argue that it is unable to replicate key labor market facts. These studies typically rely on a wide range of calibrated parameter values for which independent information is difficult to obtain. In this article, I specify and estimate a simple version of the search and matching framework using Bayesian methods. I show that the model has extremely weak internal propagation and that labor dynamics are explained almost exclusively by shocks that are residuals in the respective equations. Moreover, the structural parameter estimates appear to be only weakly identified and can change considerably across minor specification changes. This suggests that the search and matching model may not be a good framework for explaining business cycle fluctuations in the labor market.
AUTHORS: Lubik, Thomas A.
DATE: 2009

Journal Article
Which price index should a central bank employ?
AUTHORS: Webb, Roy H.
DATE: 2004

Journal Article
Accommodating rising population in rural areas : the case of Loudoun County, Virginia
AUTHORS: Sarte, Pierre-Daniel G.; Owens, Raymond E.
DATE: 2004

Journal Article
Monetary policy in the 2008-2009 recession
The recession that began with a cyclical peak in December 2007 originated in a combination of real shocks because of a fall in housing wealth and a fall in real income from an increase in energy prices. The most common explanation for the intensification of the recession that began in the late summer of 2008 is the propagation of these shocks through dysfunction in credit markets. The alternative explanation offered in this article emphasizes propagation through contractionary monetary policy. The first explanation stresses the importance of credit-market interventions (credit policy). The second emphasizes the importance of money creation (money-creation policy). According to Federal Open Market Committee (FOMC) Chairman William McChesney Martin, "The System should always be engaged in a ruthless examination of its past record" (FOMC Minutes, 11/26/68, 1,456).
AUTHORS: Hetzel, Robert L.
DATE: 2009

Journal Article
Are we working too hard or should we be working harder? A simple model of career concerns
AUTHORS: Martinez, Leonardo; Foerster, Andrew T.
DATE: 2006

Journal Article
Credit exclusion in quantitative models of bankruptcy: does it matter?
AUTHORS: Athreya, Kartik B.; Janicki, Hubert P.
DATE: 2006

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