Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
Uncertainty and Labor Market Fluctuations
Lee, Justin J.; Jo, Soojin (2019-07-02)
We investigate how a macroeconomic uncertainty shock affects the labor market. We focus on the uncertainty transmission mechanism, for which we employ a set of worker flow indicators in addition to labor stock variables. We incorporate common factors from such indicators into a framework that can simultaneously estimate historical macroeconomic uncertainty and its impacts on the macroeconomy and labor market. We find firms defer hiring as the real option value of waiting increases. Moreover, significantly more workers are laid off while voluntary quits drop, suggesting other mechanisms such ...
Working Papers , Paper 1904

Working Paper
The Macroeconomics of Irreversibility
Baley, Isaac; Blanco, Andres (2024-12-23)
We study aggregate capital dynamics in an investment model with idiosyncratic productivity shocks, fixed capital adjustment costs, and irreversibility driven by a wedge between capital purchase and resale prices. We derive sufficient statistics capturing the role of investment frictions on aggregate capital fluctuations, measure these statistics with investment microdata, and exploit them to discipline the capital price wedge. Irreversibility doubles the persistence of capital fluctuations and is crucial for reconciling micro-level investment behavior with macroeconomic propagation.
FRB Atlanta Working Paper , Paper 2024-17

Working Paper
Inflation targeting and the anchoring of inflation expectations: cross-country evidence from consensus forecasts
Davis, J. Scott; Presno, Ignacio (2014-05-13)
Using survey data of inflation expectations across a 36 developed and developing countries, this paper examines whether the adoption of inflation targeting has helped to anchor inflation expectations. We examine the response of inflation expectations following a shock to inflation, inflation expectations, and oil prices. For the 13 countries that adopted inflation targeting midway through the time period used in this study, there is a significant difference in the responses between the earlier and the later subperiods. A shock leads to a positive, significant, and persistent increase ...
Globalization Institute Working Papers , Paper 174

Report
How Firms’ Perceptions of Geopolitical Risk Affect Investment
Shen, Leslie Sheng (2025-02-13)
Geopolitical risk has intensified in recent years, driven by events such as Russia’s invasion of Ukraine, escalating tensions between the United States and China, and conflicts in the Middle East. But how risky is the geopolitical landscape according to US firms? This brief presents a new index based on earnings call transcripts that reflects US firms’ perceptions of geopolitical risk and examines how those assessments affect their future investment, that is, their spending on long-term assets such as facilities, equipment, and technology.
Current Policy Perspectives , Paper 25-3

Report
An overview of the Survey of Consumer Expectations
Armantier, Olivier; Zafar, Basit; Topa, Giorgio; Van der Klaauw, Wilbert (2016-11-17)
This report presents an overview of the Survey of Consumer Expectations, a new monthly online survey of a rotating panel of household heads. The survey collects timely information on consumers? expectations and decisions on a broad variety of topics, including but not limited to inflation, household finance, the labor market, and the housing market. There are three main goals of the survey: (1) measuring consumer expectations at a high frequency, (2) understanding how these expectations are formed, and (3) investigating the link between expectations and behavior. This report discusses the ...
Staff Reports , Paper 800

Working Paper
Risk Perception and Loan Underwriting in Securitized Commercial Mortgages
Firestone, Simon; Godin, Nathan Y.; Horvath, Akos; Sagi, Jacob (2024-04-10)
We use model-implied volatility to proxy for property risk perceptions in the commercial real estate lending market. Although loan-to-value ratios (LTVs) unconditionally decreased following the Global Financial Crisis, LTVs conditioned on implied volatility and other theoretically motivated fundamental determinants of optimal leverage show no conclusive trend before or after the crisis. Taking reported property and loan attributes at face value, we find no clear pattern of unwarranted credit being extended to commercial real estate assets. We conclude that systematically higher LTV decisions ...
Finance and Economics Discussion Series , Paper 2024-019

Journal Article
Risk Aversion at the Country Level
Gandelman, Nestor; Hernandez-Murillo, Ruben (2015)
This article estimates the coefficient of relative risk aversion for 75 countries using data on self-reports of personal well-being from the 2006 Gallup World Poll. The analysis suggests that the coefficient of relative risk aversion varies closely around 1, which corresponds to a logarithmic utility function. The authors conclude that their results support the use of the log utility function in numerical simulations of economic models.
Review , Volume 97 , Issue 1 , Pages 53-66

Working Paper
Blockchain Economics
Abadi, Joseph; Brunnermeier, Markus K. (2022-05-03)
The fundamental problem in digital record-keeping is establishing consensus on an update to a ledger, e.g., a payment. Consensus must be achieved in the presence of faults—situations in which some computers are offline or fail to function appropriately. Traditional centralized record-keeping systems rely on trust in a single entity to achieve consensus. Blockchains decentralize record-keeping, dispensing with the need for trust in a single entity, but some instead build a consensus based on the wasteful expenditure of computational resources (proof-of-work). An ideal method of consensus ...
Working Papers , Paper 22-15

Working Paper
How low can you go? Charity reporting when donations signal income and generosity
Vesterlund, Lise; Bracha, Anat (2013-10-18)
Consistent with nonprofit fundraising practices, donation visibility has been shown to increase giving. While concern for status is used to explain this response, the authors argue that this explanation relies on the assumption that giving signals only income or generosity. When giving signals both attributes overall status need not increase in donations, and donation-visibility may be harmful when individuals prefer to be perceived as poor-and-generous rather than rich-and-stingy. Using an experiment the authors find that both income-status and generosity-status concerns affect behavior. ...
Working Papers , Paper 13-11

show more (1)

show more (68)

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