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Bank:Board of Governors of the Federal Reserve System (U.S.)  Series:IFDP Notes 

Discussion Paper
Do Low Interest Rates Decrease Commodity Price Volatility?

Commodity prices have been volatile over the past decade relative to the 1990s. Over the same period interest rates have also been relatively low, suggesting a possible connection.
IFDP Notes , Paper 2013-09-26

Discussion Paper
Understanding Global Volatility

In this note, we identify a global component of equity option-implied volatilities and address two questions: What are its fundamental drivers? And, given these drivers, are recent levels of volatility unexpectedly low?
IFDP Notes , Paper 2018-01-19

Discussion Paper
The Surprising Strength of U.S. Imports During the Recovery

Import and exports of goods and services, after rebounding sharply in the immediate post-recession period, have more recently returned to a pace of growth more in line with their pre-recession averages.
IFDP Notes , Paper 2014-11-13

Discussion Paper
Do Financial Market Frictions Affect Executive Compensation?

Compensation policy, characterized by CEO pay-for-performance, is one of the most important factors in a company's success, shaping how well executives run the company.
IFDP Notes , Paper 2015-07-20-1

Discussion Paper
Milton Friedman and Data Adjustment

When empirically modelling the U.S. demand for money, Milton Friedman more than doubled the observed initial stock of money to account for a "changing degree of financial sophistication" in the United States relative to the United Kingdom. This note discusses effects of this adjustment on Friedman's empirical models. His data adjustment dramatically reduced apparent movements in the velocity of circulation of money, and it adversely affected the constancy and fit of his estimated money demand models.
IFDP Notes , Paper 2017-05-15

Discussion Paper
Recent Euro-area Inflows into U.S. Bonds: Reconciling and Understanding New Data Sources

In this note we review the data on U.S. cross-border financial flows and positions with a focus on one question of current interest: have euro-area investors been increasing their holdings of U.S. securities since the possibility of European Central Bank quantitative easing (ECB QE) emerged in the latter half of 2014? The prospect of ECB QE, combined with the prospect of U.S. policy rate liftoff, suggested that U.S. interest rates would soon exceed euro-area rates by a wide margin, which might have provided an incentive for euro-area investors to seek higher-yielding U.S. assets, especially ...
IFDP Notes , Paper 2015-06-19-1

Discussion Paper
Should We Be Concerned Again About U.S. Current Account Sustainability?

In this note, we compare the present situation to that prevailing in the mid-2000s, when concerns about the NIIP and the current account were at the forefront, and we examine the prospects for U.S. external sustainability going forward.
IFDP Notes , Paper 2018-03-09-1

Discussion Paper
Constructing a Dictionary for Financial Stability

In this note, we explain in detail how we made word-level choices in our dictionary. In the note, we also consolidate our lessons from this process into a framework for thinking about dictionary construction.
IFDP Notes , Paper 2017-06-28

Discussion Paper
A New Dataset of Macroprudential Policy Governance Structures

Governance structures are a critical part of a framework for implementing macroprudential policy, alongside methodologies for measuring and monitoring systemic risk, and analyses to understand the impact of policies that may be used to mitigate risk. As part of various research projects to study macroprudential policy frameworks, we have compiled a new dataset of governance structures in 58 countries. This note documents the construction of our dataset, including the decisions that we made concerning the countries and governance-structure facts to record in our dataset, and it discusses the ...
IFDP Notes , Paper 2017-11-07

Discussion Paper
"Low-For-Long" Interest Rates and Portfolio Shifts in Advanced Foreign Economies

For the past several years, interest rates in many advanced economies have been at historic lows. Although low interest rates have helped support recovery in these economies, persistently low rates have also raised concerns about increased incentives for risk-taking by investors to achieve higher yields.
IFDP Notes




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Vigfusson, Robert J. 5 items

Ammer, John 3 items

Bertaut, Carol C. 3 items

Correa, Ricardo 3 items

Gruber, Joseph W. 3 items

Kamin, Steven B. 3 items

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