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

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
The Long Road to Countercyclical Monetary Policy in Emerging Market Economies

During the global financial crisis (GFC) of 2008-09, central banks in both advanced and emerging market economies (EMEs) lowered policy rates to cushion the adverse shock and to spur economic activity.
IFDP Notes , Paper 2013-12-03-1

Discussion Paper
Recoveries and Trade : Does the Exchange Rate Regime Matter?

This note examines the connection between a country's exchange rate regime and the strength of its recovery from recessions.
IFDP Notes , Paper 2017-06-29

Discussion Paper
Measuring Monetary Policy Uncertainty: The Federal Reserve, January 1985-January 2016

In this note we focus on the U.S. over the period January 1985 to January 2016, but have also constructed measures over a longer time period and for other central banks/economies.
IFDP Notes , Paper 2016-04-11-2

Discussion Paper
Foreign Competition and Domestic Jobs : Evidence from the U.S. Trade Adjustment Assistance

Using data on the certified petitions for U.S. Trade Adjustment Assistance, I document that international trade unevenly affects reallocation and employment across U.S. states. Job gains are precisely lower in the places that shed more jobs due to trade. One extra trade-displaced worker is associated with the net employment falling by two extra workers relative to other locations. These unequal outcomes are in part due to the lack of worker mobility across locations.
IFDP Notes , Paper 2016-03-31

Discussion Paper
How Do Liquidity Conditions Affect U.S. Bank Lending?

The recent financial crisis underscored the importance of understanding how liquidity conditions for banks (or other financial institutions) influence the banks' lending to domestic and foreign customers.
IFDP Notes , Paper 2014-10-15

Discussion Paper
The Sensitivity of the U.S. Dollar Exchange Rate to Changes in Monetary Policy Expectations

This note summarizes recent work in the International Finance Division of the Federal Reserve Board on the relationship between movements in exchange rates and monetary policy expectations.
IFDP Notes , Paper 2017-09-22

Discussion Paper
Causes of the Global Trade Slowdown

This note analyzes the striking slowdown in world trade in recent years. After documenting key features of this slowdown, we assess its causes, including to what extent it reflects recent cyclical weakness in global growth versus underlying long-term structural shifts in the world economy.
IFDP Notes , Paper 2016-11-10

Discussion Paper
Emerging Market Nonfinancial Corporate Debt : How Concerned Should We Be?

Nonfinancial corporate (NFC) debt in emerging market economies (EMEs) has tripled since the global financial crisis (GFC), reaching roughly $25 trillion, or 112 percent of GDP, in mid-2016. In this note, we assess corporate vulnerabilities by looking at two common metrics related to debt-servicing capacity: leverage (the ratio of debt to equity), and the interest coverage ratio (the ratio of earnings to interest expense).
IFDP Notes , Paper 2017-06-01

Discussion Paper
Differences in Stock Returns of U.S. Firms with High and Low Tradability

In this note, I summarize the methodology and findings of my research paper and draw out the policy implications. The effects of GDP growth appear to matter more but the link between exchange rates and stock returns is also economically and statistically significant. The policy implications are that the spread in returns between U.S. firms with high and low tradability could provide a hedge against recessions. At the same time, stock returns are also informative about future exchange rate movements.
IFDP Notes , Paper 2018-01-12




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Vigfusson, Robert J. 5 items

Lewis, Logan T. 4 items

Bertaut, Carol C. 3 items

Correa, Ricardo 3 items

Gruber, Joseph W. 3 items

Kamin, Steven B. 3 items

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