Search Results
Working Paper
Assessing the macroeconomic impact of bank intermediation shocks: a structural approach
We take a structural approach to assessing the empirical importance of shocks to the supply of bank-intermediated credit in affecting macroeconomic fluctuations. First, we develop a theoretical model to show how credit supply shocks can be transmitted into disruptions in the production economy. Second, we use the unique micro-banking data to identify and support the model's key mechanism. Third, we find that the output effect of credit supply shocks is not only economically and statistically significant but also consistent with the vector autogression evidence. Our mode estimation indicates ...
Journal Article
Leisure and Hospitality: Strong Demand and Supply Constraints
Strong household finances, along with pent-up demand from the pandemic, has fueled discretionary spending on recreation and experiences for Nebraskans.
Speech
Restoring Price Stability
Remarks at Exploring Innovations in Central Banking, Bretton Woods Committee – New York Fed Joint Conference, Federal Reserve Bank of New York, New York City.
Speech
X Marks the Spot: Making Missing Markets
Remarks at Intermediating Impact: Making Missing Markets, Federal Reserve Bank of New York, New York City.
Speech
Our Work Is Not Yet Done
Remarks at the New York Bankers Association, New York City.
Speech
A Bedrock Commitment to Price Stability
Remarks at the 2022 U.S. Hispanic Chamber of Commerce National Conference, Phoenix, Arizona.
Speech
The Right Tools for Our Time
Remarks at NABE/Bundesbank International Economic Symposium Eltville am Rhein, Germany.
Journal Article
Upfront: New from the Richmond Fed's Regional Matters Blog
New from the Richmond Fed’s Regional Matters blog
Newsletter
The Science of Supply and Demand
Pandemics, hurricanes, and other scientific events can alter the course of markets. Changes in technology can, too. This issue of Page One Economics explains the laws of supply and demand and uses graphs to show how price and quantity change when markets shift.
Speech
Shifting Gears: Rebalance and Realignment in the Economy
Remarks at the Fixed Income Analysts Society, New York City.