Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Discussion Paper
The Post‑Pandemic Global R*
Del Negro, Marco; Elbarmi, Elena; Pham, Michael (2026-02-25)
In this post we provide a measure of “global” r* using data on short- and long-term yields and inflation for several countries with the approach developed in “Global Trends in Interest Rates” (Del Negro, Giannone, Giannoni, and Tambalotti). After declining significantly from the 1990s to before the COVID-19 pandemic, global r* has risen but remains well below its pre-1990s level. These conclusions are based on an econometric model called “trendy VAR” that extracts common trends across a multitude of variables. Specifically, the common trend in real rates across all the countries ...
Liberty Street Economics , Paper 20260225

Working Paper
Projecting the Impact of Rising Temperatures: The Role of Macroeconomic Dynamics
Casey, Gregory; Fried, Stephie; Goode, Ethan (2022-08-18)
We use theory and empirics to distinguish between the impact of temperature on transition (temporary) and steady state (permanent) growth in output per capita. Standard economic theory suggests that the long-run growth rate of output per capita is determined entirely by the growth rate of total factor productivity (TFP). We find evidence suggesting that the level of temperature affects the level of TFP, but not the growth rate of TFP. This implies that a change in temperature will have a temporary, but not a permanent, impact on growth in output per capita. To highlight the quantitative ...
Working Paper Series , Paper 2022-20

Speech
Optimal Macroeconomic Policies in a Heterogeneous World
Bullard, James B.; DiCecio, Riccardo; Singh, Aarti; Suda, Jacek (2023-06-23)
Speech

Briefing
Networks, Innovation and Productivity: A Conference Recap
Mullin, John; Wells, Matthew (2023-05)
How do employment targets affect firm dynamics? What is the relationship between inventor migration, and local productivity and knowledge spillovers? How are surplus gains from inventions distributed? These were among the questions addressed by economists during a recent Richmond Fed research conference.Economists from the Richmond Fed, research universities and other institutions met in Richmond for a conference in May. Researchers presented papers on a variety of topics, including digital advertising, R&D allocation, production networks, and knowledge creation and diffusion.
Richmond Fed Economic Brief , Volume 23 , Issue 17

Discussion Paper
Why Does the U.S. Always Run a Trade Deficit?
Klitgaard, Thomas (2025-05-20)
The obvious answer to the question of why the United States runs a trade deficit is that its export sales have not kept up with its demand for imports. A less obvious answer is that the imbalance reflects a macroeconomic phenomenon. Using national accounting, one can show deficits are also due to a persistent shortfall in domestic saving that requires funds from abroad to finance domestic investment spending. Reducing the trade imbalance therefore requires both more exports relative to imports and a narrowing of the gap between saving and investment spending.
Liberty Street Economics , Paper 20250520

Speech
Challenges that the Recent Financial Market Turmoil Places on our Macroeconomic Toolkit
Evans, Charles L. (2008-10-06)
Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Swiss National Bank Research Conference Zurich, Switzerland
Speech , Paper 20

Journal Article
How Much Have Record Corporate Profits Contributed to Recent Inflation?
Glover, Andrew; Mustre-del-Rio, Jose; von Ende-Becker, Alice (2023-01-12)
Andrew Glover, José Mustre-del-Río, and Alice von Ende-Becker present evidence that markup growth was a major contributor to inflation in 2021. Specifically, markups grew by 3.4 percent over the year, whereas inflation, as measured by the price index for Personal Consumption Expenditures, was 5.8 percent, suggesting that markups could account for more than half of 2021 inflation. However, the timing and cross-industry patterns of markup growth are more consistent with firms raising prices in anticipation of future cost increases, rather than an increase in monopoly power or higher demand.
Economic Review , Volume vol.108 , Issue no.1 , Pages 13

Working Paper
An Interview with Neil Wallace
Nosal, Ed; Altig, David E. (2013-11-30)
A few years ago we sat down with Neil Wallace and had two lengthy, free-ranging conversations about his career and, generally speaking, his views on economics. What follows is a distillation of these conversations.
Working Paper Series , Paper WP-2013-25

Journal Article
Real Wage Growth at the Micro Level
Harding, Elisabeth; Gregory, Victoria (2024-04-15)
This article investigates patterns in real wage growth in 2022 to determine whether wages have kept up with rising price levels and how this differs among labor market participants. Using the consumer price index for wages and imputing expenditure data from the Consumer Expenditure Survey, we separately measure nominal wage growth and inflation rates at the micro level. We find that there is more heterogeneity in the former, meaning that when we combine them, an individual's real wage growth is primarily driven by their nominal wage growth. In 2022, 57 percent of individuals experienced ...
Review , Volume 106 , Issue 2 , Pages 87-105

Speech
Social Learning for the Masses
Bullard, James B. (2023-02-04)
Speech

show more (2)

show more (29)

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