Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
An empirical investigation of money demand in the cash-in-advance model framework
Sill, Keith (1992)
Working Papers , Paper 92-16

Working Paper
Durable financial regulation: monitoring financial instruments as a counterpart to regulating financial institutions
Nakamura, Leonard I. (2010)
Superseded by Working Paper 13-2 ; This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically proposes a large macro-micro database for the U.S. based on an extended version of the Flow of Funds. The author argues that such a database would have been of material value to U.S. regulators in ameliorating the recent financial crisis and will be of aid in understanding the potential vulnerabilities of an innovative financial system in the future. The author also argues that the data should -- under strict confidentiality ...
Working Papers , Paper 10-22

Working Paper
Subprime mortgages and the housing bubble
Brueckner, Jan K.; Nakamura, Leonard I.; Calem, Paul S. (2011)
This paper explores the link between the house-price expectations of mortgage lenders and the extent of subprime lending. It argues that bubble conditions in the housing market are likely to spur subprime lending, with favorable price expectations easing the default concerns of lenders and thus increasing their willingness to extend loans to risky borrowers. Since the demand created by subprime lending feeds back onto house prices, such lending also helps to fuel an emerging housing bubble. The paper, however, focuses on the reverse causal linkage, where subprime lending is a consequence ...
Working Papers , Paper 11-12

Working Paper
Regional resilience
Lin, Jeffrey (2012)
In this paper, I study long-run population changes across U.S. metropolitan areas. First, I argue that changes over a long period of time in the geographic distribution of population can be informative about the so-called resilience" of regions. Using the censuses of population from1790 to 2010, I find that persistent declines, lasting two decades or more, are somewhat rare among metropolitan areas in U.S. history, though more common recently. Incorporating data on historical factors, I find that metropolitan areas that have experienced extended periods of weak population growth tend to be ...
Working Papers , Paper 13-01

Working Paper
Maturity, indebtedness, and default risk
Eyigungor, Burcu; Chatterjee, Satyajit (2011)
In this paper, the authors advance the theory and computation of Eaton-Gersovitz style models of sovereign debt by incorporating long-term debt and proving the existence of an equilibrium price function with the property that the interest rate on debt is increasing in the amount borrowed and implementing a novel method of computing the equilibrium accurately. Using Argentina as a test case, they show that incorporating long-term debt allows the model to match the average external debt-to-output ratio, average spread on external debt, the standard deviation of spreads and simultaneously ...
Working Papers , Paper 11-33

Working Paper
Inflation and real activity with firm-level productivity shocks
Dotsey, Michael; Wolman, Alexander L.; King, Robert G. (2013)
In the last ten years there has been an explosion of empirical work examining price setting behavior at the micro level. The work has in turn challenged existing macro models that attempt to explain monetary nonneutrality, because these models are generally at odds with much of the micro price data. In response, economists have developed a second generation of sticky-price models that are state dependent and that include both fixed costs of price adjustment and idiosyncratic shocks. Nonetheless, some ambiguity remains about the extent of monetary nonneutrality that can be attributed to costly ...
Working Papers , Paper 13-35

Working Paper
Expectations and economic fluctuations: an analysis using survey data
Sill, Keith; Leduc, Sylvain (2010)
Using survey-based measures of future U.S. economic activity from the Livingston Survey and the Survey of Professional Forecasters, the authors study how changes in expectations, and their interaction with monetary policy, contribute to fluctuations in macroeconomic aggregates. They find that changes in expected future economic activity are a quantitatively important driver of economic fluctuations: a perception that good times are ahead typically leads to a significant rise in current measures of economic activity and inflation. The authors also find that the short-term interest rate rises ...
Working Papers , Paper 10-6

Working Paper
Are there regimes of antitrust enforcement? An empirical analysis
Holliday, Andrew J.; Hopper, Gregory P. (1996)
In this paper, the authors propose a new index of antitrust enforcement. The index is compiled from quarterly data from the Department of Justice from 1890 to 1989 and is designed to reflect the relative influence of variables that have deterrent effects. The authors use Hamilton's (1989, 1990) regime-switching technique to estimate a model in which the enforcement index follows a regime-specific AR(1) process. The authors find evidence of long-lived regimes. The high enforcement regime, which lasted from about 1910 to the mid-1960s, produced enforcement that was, on average, almost twice as ...
Working Papers , Paper 96-21

Working Paper
Eviction Risk of Rental Housing: Does It Matter How Your Landlord Finances the Property?
Lopez, Luis; An, Xudong; Ambrose, Brent W. (2021-02-11)
We show, using a stylized model, how the ﬁnancing choice of landlords can impact eviction decisions in rental markets. Since multifamily loans rely on timely cash ﬂows from tenants, strict underwriting factors can increase the chances that landlords are able to weather income shocks. Lender provided relief may create further leeway for landlords to work out a deal with tenants who default on rental payments. Using comprehensive data on nationwide evictions in the U.S. and performance records on multifamily mortgages, we conﬁrm predictions from our model by documenting a negative ...
Working Papers , Paper 21-05

Working Paper
Worker flows and job flows: a quantitative investigation
Fujita, Shigeru; Nakajima, Makoto (2013)
This paper studies the quantitative properties of a multiple-worker firm matching model with on-the-job search where heterogeneous firms operate decreasing-returns-to-scale production technology. We focus on the model's ability to replicate the business cycle features of job flows, worker flows between employment and unemployment, and job-to-job transitions. The calibrated model successfully replicates (i) countercyclical worker flows between employment and unemployment, (ii) procyclical job-to-job transitions, and (iii) opposite movements of job creation and destruction rates over the ...
Working Papers , Paper 13-09

show more (318)

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