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Series:Economic Quarterly  Bank:Federal Reserve Bank of Richmond 

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.
Economic Quarterly , Issue 1Q , Pages 1-40

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 ...
Economic Quarterly , Issue 2Q , Pages 53-77

Journal Article
Survey measures of expected inflation : revisiting the issues of predictive content and rationality

Economic Quarterly , Issue Sum , Pages 17-36

Journal Article
Testing long-run neutrality

Economic Quarterly , Issue Sum , Pages 69-101

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 ...
Economic Quarterly , Volume 95 , Issue Spr , Pages 101-120

Journal Article
Which price index should a central bank employ?

Economic Quarterly , Volume 90 , Issue Spr , Pages 63-76

Journal Article
Accommodating rising population in rural areas : the case of Loudoun County, Virginia

Economic Quarterly , Volume 90 , Issue Win , Pages 33-50

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 ...
Economic Quarterly , Volume 95 , Issue Spr , Pages 201-233

Journal Article
Are we working too hard or should we be working harder? A simple model of career concerns

Economic Quarterly , Volume 92 , Issue Win , Pages 79-91

Journal Article
Credit exclusion in quantitative models of bankruptcy: does it matter?

Economic Quarterly , Volume 92 , Issue Win , Pages 17-49




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Hetzel, Robert L. 26 items

Sarte, Pierre-Daniel G. 20 items

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Wolman, Alexander L. 19 items

Mehra, Yash P. 18 items

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