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Bank:Federal Reserve Bank of Boston 

Conference Paper
The merger boom: an overview

Conference Series ; [Proceedings] , Volume 31 , Pages 1-16

Journal Article
Do New England's public schools need finance reform? (Accountability and education reform, part 1)

Fiscal Facts , Issue Fall , Pages 1-5

Journal Article
Monetary policy and the behavior of long-term real interest rates

A time-honored description of the "monetary transmission channel" suggests that the Fed controls the federal funds rate, which affects the rates on longer-term credit market instruments, which affect the expected real (inflation-adjusted) rates on longer-term instruments, which affect real spending on interest-sensitive goods, which affects unemployment and inflation. And yet one key link in the chain, the expected real long-term interest rate, is not observable.> This article explores the link between the behavior of monetary policy and inferences about the behavior of the expected ...
New England Economic Review , Issue Sep , Pages 39-52

Speech
Challenges in resolving systemically important financial institutions.

Presentation by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for The Institute of Regulation and Risk North Asia, Hong Kong, May 5, 2009
Speech , Paper 26

Speech
Prospects for an economic recovery.

Presentation by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for The Worcester Economic Club, Worcester, Massachusetts, May 21, 2009
Speech , Paper 27

Working Paper
Intrinsic and inherited inflation persistence

In the now conventional view of the inflation process, the New Keynesian Phillips Curve (NKPC) captures most of the persistence in inflation. The sources of persistence are twofold. First, the ?driving process? for inflation?the output gap or, more commonly, real marginal cost?is itself quite persistent, and a casual inspection of the NKPC reveals that inflation must ?inherit? this persistence. Second, a modest amount of backward-looking or indexing behavior imparts some ?intrinsic? persistence to inflation. This latter source is generally thought to be of less importance than the former, as ...
Working Papers , Paper 05-8

Briefing
Hollywood east?: film tax credits in New England

Five of the six New England states now provide tax credits or other financial incentives to attract producers to film on location. This policy brief discusses whether these incentives attract more production, and whether they are cost-effective in creating jobs. It focuses on the use of one major incentive: film tax credits.
New England Public Policy Center Policy Brief

Journal Article
The changing faces of America's children and youth

Recent U.S. Census Bureau projections indicate that by the middle of this century, non-Hispanic whites will cease to be a majority of the American population. In this article we document how for America's youngest residents, the future is already here. America's rapidly changing racial and ethnic composition has important implications for intergroup relations, ethnic identities, and electoral politics.
New England Community Developments

Working Paper
Demonstration effects in preventive care

Using a unique dataset composed of female employees at a large medical organization, this paper explores the role of social interactions among female co-workers and neighbors in the decision to obtain breast cancer screening exams. In our theoretical framework, the experience of other women is salient because it alters the tolerance for ambiguity about their own vulnerability, via a comparative ignorance effect. We find that the social multiplier ranges from 2 to 3: the equilibrium effect of an exogenous shock that impacts the probability of performing a mammogram is two to three times the ...
Supervisory Research and Analysis Working Papers , Paper QAU07-7

Working Paper
The role of economic, fiscal, and financial shocks in the evolution of public sector pension funding

Many studies have documented the pervasive underfunding of public sector pension plans in the United States in recent years. The deterioration of the funded status of public pension plans coincided with severe fiscal crises that state and local governments experienced in the 2000s. This development has led to a suspicion that state and local governments have decreased employer pension contributions as a backdoor means of running fiscal deficits. In this paper, the authors investigate the extent to which this phenomenon has occurred. They estimate panel data regressions using the Boston ...
Working Papers , Paper 13-26

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