Search Results
Journal Article
Has forward guidance been effective?
A. Lee Smith and Thealexa Becker compare forward guidance announcements with changes in the effective federal funds rate and find the two policy measures have had similar macroeconomic effects.
Journal Article
The Reallocation of Energy-sector Workers After Oil Price Booms and Busts
Jason P. Brown and Andres Kodaka compare recent job losses in the mining sector with those that occurred during the Great Recession and find displaced workers had an easier time finding new jobs in 2015 than they did during the recession.
Journal Article
Monetary policy and firm entry and exit
Yoonsoo Lee and Willem Van Zandweghe find unusually accommodative monetary policy reduces the reallocation of capital and workers from exiting firms to new ones, potentially slowing productivity growth.
Journal Article
Has the effect of monetary policy announcements on asset prices changed?
The Federal Reserve has increased communication about the future path of the federal funds target rate over time. The use of forward guidance as a policy tool has raised questions about changes in how it influences the economy.
Journal Article
Consumer debt dynamics : an update
Journal Article
Global Uncertainty in the Wake of Brexit
Hakkio and Sly find that increased global uncertainty after Brexit will be a major concern for the United Kingdom, a modest concern for the euro area, and a minor concern for the United States.
Journal Article
How much of the fall in inflation can be explained by energy and import prices?
A. Lee Smith finds that recent declines in inflation may be due to historically large movements in oil prices and the foreign exchange value of the dollar.
Journal Article
The long-term outlook for U.S. residential construction
The recovery of U.S. housing construction paused during the first half of 2013. Stronger growth is likely to resume in the near term. But over the long term, home construction is likely to contract as aging baby boomers downsize.
Journal Article
Gauging the Strength of Chinese GDP Growth
Jun Nie constructs an alternative measure to evaluate the strength of Chinese GDP growth and identifies potential risks to China?s growth in the near term.
Journal Article
How Much Would China’s GDP Respond to a Slowdown in Housing Activity?
We analyze China's interindustry connections and show that China?s housing activity has become increasingly important to its GDP growth. Our results suggest that a 10 percent decline in final demand for real estate and housing-related construction would lead to a decline in total output of 2.2 percent, an effect more than two times larger than it would have been 10 years ago.