finance and economics - Robuta Search

https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/exploring-online-offline-informal-work-findings-enterprising-informal-work-activities-eiwa-survey-723879 Finance and Economics Discussion Series, Exploring Online and Offline Informal Work: Findings from... The growing prevalence of alternative work arrangements has accelerated with the rapidly evolving digital platform transformations in local and global markets... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/great-recession-a-missing-generation-exporters-724002 Finance and Economics Discussion Series, The Great Recession and a Missing Generation of Exporters,... The collapse of international trade surrounding the Great Recession has garnered significant attention. This paper studies firm entry and exit in foreign... finance and economics the great recession https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/borrowing-costs-large-financial-firms-unusual-723695 Finance and Economics Discussion Series, Are the Borrowing Costs of Large Financial Firms Unusual?,... Estimates of investor expectations of government support of large financial firms are often based on large financial firms' lower borrowing costs relative to... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/geographic-scope-retail-deposit-markets-722802 Finance and Economics Discussion Series, The Geographic Scope of Retail Deposit Markets, 2002-049 |... In the United States, antitrust authorities rely heavily on numerical measures of local banking market concentration such as the Herfindahl Hirschmann Index to... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/non-stationary-dynamic-factor-models-large-datasets-723814 Finance and Economics Discussion Series, Non-Stationary Dynamic Factor Models for Large Datasets,... We study a Large-Dimensional Non-Stationary Dynamic Factor Model where (1) the factors Ft are I(1) and singular, that is Ft has dimension r and is driven by q... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/general-equilibrium-effects-investment-tax-incentives-723274 Finance and Economics Discussion Series, General-Equilibrium Effects of Investment Tax Incentives,... This paper develops a new-Keynesian model with nominal depreciation allowances to consider the effects of temporary tax-based investment incentives on capital... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/new-financial-stability-governance-structures-central-banks-724127 Finance and Economics Discussion Series, New Financial Stability Governance Structures and Central... We evaluate the institutional frameworks developed to implement time-varying macroprudential policies in 58 countries. We focus on new financial stability... finance and economics discussion series financial stability governance structures https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/bond-market-intermediation-role-repo-723897?page=55 Finance and Economics Discussion Series, Bond Market Intermediation and the Role of Repo, 2017-003... We model the role that repurchase agreements (repos) play in bond market intermediation. Not only do repos allow dealers to finance their activities, but they... finance and economics https://sgc.frankfurt-school.de/ Sino-German Centre of Finance and Economics - SGC finance and economics german centre sino sgc https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/consumer-spending-fiscal-consolidation-evidence-a-housing-tax-experiment-723728 Finance and Economics Discussion Series, Consumer Spending and Fiscal Consolidation: Evidence from... A sudden change of government in Italy at the end of 2011 prompted the legislation of a large fiscal consolidation plan. A major intervention of this plan was... finance and economics discussion series consumer spending https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/effect-china-connect-724195 Finance and Economics Discussion Series, The Effect of the China Connect, 2019-087 | FRASER | St.... We document the effect on Chinese firms of the Shanghai (Shenzhen)-Hong Kong Stock Connect. The Connect was an important capital account liberalization... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/evolution-macro-models-federal-reserve-board-722488 Finance and Economics Discussion Series, The Evolution of Macro Models at the Federal Reserve... Finance and Economics Discussion Series, The Evolution of Macro Models at the Federal Reserve Board, 1997-029 by Flint Brayton, Andrew T. (Andrew Theo) Levin,... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/estimating-common-trend-rate-inflation-consumer-prices-consumer-prices-excluding-food-energy-prices-723182 Finance and Economics Discussion Series, Estimating the Common Trend Rate of Inflation for Consumer... I examine the common trend in inflation for consumer prices and consumer prices excluding prices of food and energy. Both the personal consumption expenditure... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/approximately-right-global-v-local-methods-open-economy-models-incomplete-markets-724201 Finance and Economics Discussion Series, Approximately Right?: Global v. Local Methods for... Global and local methods are widely used in international macroeconomics to analyze incomplete-markets models. We study solutions for an endowment economy, an... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/estimating-stochastic-volatility-diffusion-using-conditional-moments-integrated-volatility-722739 Finance and Economics Discussion Series, Estimating Stochastic Volatility Diffusion Using... We exploit the distributional information contained in high-frequency intraday data in constructing a simple conditional moment estimator for stochastic... finance and economics discussion series estimating stochastic volatility https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/determining-motives-a-positive-optimal-tax-capital-723372 Finance and Economics Discussion Series, Determining the Motives for a Positive Optimal Tax on... Previous literature demonstrates that in a computational life cycle model the optimal tax on capital is positive and large. Given the computational... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/models-sectoral-reallocation-722572 Finance and Economics Discussion Series, Models of Sectoral Reallocation, 1999-003 | FRASER | St.... This paper demonstrates several strengths and shortcomings of models of sectoral reallocation. Although these models demonstrate that sectoral reallocation can... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/estimating-probabilities-recession-real-time-using-gdp-gdi-723083 Finance and Economics Discussion Series, Estimating Probabilities of Recession in Real Time Using... This work estimates Markov switching models on real time data and shows that the growth rate of gross domestic income (GDI), deflated by the GDP deflator, has... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/macro-variables-used-stress-testing-forecast-performance-banks-723426 Finance and Economics Discussion Series, Can Macro Variables Used in Stress Testing Forecast the... When stress tests for the banking sector use a macroeconomic scenario, an unstated premise is that macro variables should be useful factors in forecasting the... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/consumers-attitudes-inflation-expectations-723686 Finance and Economics Discussion Series, Consumers' Attitudes and Their Inflation Expectations,... This paper studies consumers' inflation expectations using micro-level data from the Surveys of Consumers conducted by University of Michigan. It shows that... finance and economics discussion series consumers attitudes inflation https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/housing-house-prices-equity-premium-puzzle-722960 Finance and Economics Discussion Series, Housing, House Prices, and the Equity Premium Puzzle,... Many recent papers have claimed that when housing services are treated separately from other forms of consumption in utility, a wide range of economic puzzles... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/non-linearity-inflation-growth-relationship-developing-economies-evidence-a-semiparametric-panel-model-723601 Finance and Economics Discussion Series, Non-Linearity in the Inflation-Growth Relationship in... Using data on developing economies, we estimate a flexible semiparametric panel data model that incorporates potentially nonlinear effects of inflation on... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/optimal-control-large-forward-looking-models-efficient-solutions-two-examples-722620 Finance and Economics Discussion Series, Optimal Control of Large, Forward-Looking Models:... An optimal control tool is described that is particularly useful for computing rules of large-scale models where users might otherwise have difficulty... finance and economics discussion series optimal control https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/macro-risks-term-structure-interest-rates-723952 Finance and Economics Discussion Series, Macro Risks and the Term Structure of Interest Rates,... We use non-Gaussian features in U.S. macroeconomic data to identify aggregate supply and demand shocks while imposing minimal economic assumptions. Recessions... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/distressed-neighborhoods-recovered-evidence-neighborhood-stabilization-program-723687 Finance and Economics Discussion Series, Have Distressed Neighborhoods Recovered? Evidence from the... During the 2007-2009 housing crisis, concentrations of foreclosed and vacant properties created severe blight in many cities and neighborhoods. The federal... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/news-noise-estimates-true-unobserved-state-economy-723110?page=1 Finance and Economics Discussion Series, News, Noise, and Estimates of the "True" Unobserved State... Which provides a better estimate of the "true" state of the U.S. economy, gross domestic product (GDP) or gross domestic income (GDI)? Past work has assumed... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/online-appendix-monetary-policy-strategies-a-low-rate-environment-724117?page=11 Finance and Economics Discussion Series, Online Appendix for "Monetary Policy Strategies for a... In low-rate environments, policy strategies that involve holding rates "lower for longer" (L4L) may mitigate the effects of the effective lower bound (ELB).... finance and economics discussion series online appendix https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/hysteresis-via-endogenous-rigidity-wages-participation-723938?page=44 Finance and Economics Discussion Series, Hysteresis Via Endogenous Rigidity in Wages and... We document that the past three "jobless" recoveries also featured asymmetries in labor force participation and labor compensation, with each falling to new... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/financial-profiles-workers-vulnerable-coronavirus-related-earnings-loss-spring-2020-724288 Finance and Economics Discussion Series, Financial Profiles of Workers Most Vulnerable to... In spring 2020, the COVID-19 pandemic and related shutdowns had huge effects on unemployment. Using data from the Survey of Consumer Finances, we describe the... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/joint-supervisors-examine-financial-institutions-case-state-banks-723360 Finance and Economics Discussion Series, How Do Joint Supervisors Examine Financial Institutions?... This paper studies what determines whether federal and state supervisors examine state banks independently or together. The results suggest that supervisors... finance and economics discussion series how do https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/firm-dynamics-infrequent-adjustment-learning-723158 Finance and Economics Discussion Series, Firm Dynamics with Infrequent Adjustment and Learning,... We propose an explanation for the rapid post-entry growth of surviving firms found in recent studies. At the core of our theory is the interaction between... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/optimal-discretion-722611 Finance and Economics Discussion Series, Optimal Discretion, 1999-042 | FRASER | St. Louis Fed This paper investigates the desirability of adopting a rule in favor of discretionary monetary policy in a model exhibiting Kydland and Prescott's dynamic... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/effects-monetary-policy-shocks-across-time-across-sectors-723533 Finance and Economics Discussion Series, Effects of Monetary Policy Shocks Across Time and Across... Recent empirical research by Olivei and Tenreyro (2007) demonstrates that the effect of monetary policy shocks on output and prices depends on the shock's... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/bank-lending-knowledge-economy-724235 Finance and Economics Discussion Series, Bank Lending in the Knowledge Economy, 2020-040 | FRASER |... We study the composition of bank loan portfolios during the transition of the real sector to a knowledge economy where firms increasingly use intangible... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/accuracy-forecasts-prepared-federal-open-market-committee-723733 Finance and Economics Discussion Series, The Accuracy of Forecasts Prepared for the Federal Open... We analyze forecasts of consumption, nonresidential investment, residential investment, government spending, exports, imports, inventories, gross domestic... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/estimating-price-default-risk-722438 Finance and Economics Discussion Series, Estimating the Price of Default Risk, 1996-029 | FRASER |... A firm's instantaneous probability of default is modeled as a square-root diffusion process. The parameters of these processes are estimated for 188 firms,... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/firm-leverage-labor-market-size-employee-pay-723972?page=1 Finance and Economics Discussion Series, Firm Leverage, Labor Market Size, and Employee Pay,... We provide estimates of the wage costs of firms' debt exploiting within-firm variation in workers' expected unemployment costs due to variation in local labor... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/measurement-error-time-aggregation-a-closer-look-estimates-output-labor-elasticities-722411 Finance and Economics Discussion Series, Measurement Error and Time Aggregation: A Closer Look at... This paper analyzes the effect of time aggregation on estimates of the elasticities of output with respect to employment and to average hours of work. The main... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/increasing-returns-optimal-oscillating-labor-supply-722775 Finance and Economics Discussion Series, Increasing Returns and Optimal Oscillating Labor Supply,... Models featuring increasing returns to scale in at least one factor of production have been used to study two separate phenomena: (1) multiplicity of... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/designing-a-main-street-lending-facility-724247 Finance and Economics Discussion Series, Designing a Main Street Lending Facility, 2020-052 |... Banks add value by monitoring borrowers. High funding costs make banks reluctant to lend. A central bank can ease funding by purchasing loans, but cannot... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/nature-nurture-401-k-participants-save-differently-workers-722786 Finance and Economics Discussion Series, Nature or Nurture: Why Do 401(k) Participants Save... Participants in 401(k) plans are more likely than other workers to list "retirement" as their main reason for saving, to hold individual retirement accounts... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/closed-form-estimation-finite-order-arch-models-asymptotic-theory-finite-sample-performance-supplemental-appendix-723873?page=1 Finance and Economics Discussion Series, Closed-Form Estimation of Finite-Order Arch Models:... Strong consistency and weak distributional convergence to highly non-Gaussian limits are established for closed-form, two stage least squares (TSLS) estimators... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/forward-looking-monetary-policy-transmission-conventional-monetary-policy-shocks-724209 Finance and Economics Discussion Series, Forward-Looking Monetary Policy and the Transmission of... Standard structural VAR models and estimation using Romer and Romer (2004) monetary policy shocks show that, in samples after the 1980s, a contractionary... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/alternative-theory-plant-size-distribution-application-trade-723287 Finance and Economics Discussion Series, An Alternative Theory of the Plant Size Distribution with... There is wide variation in the sizes of manufacturing plants, even within the most narrowly defined industry classifications used by statistical agencies.... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/hedging-derivatives-reduce-markets-perception-credit-risk-723890 Finance and Economics Discussion Series, Does Hedging with Derivatives Reduce the Market's... Risk management is the most widely-cited reason that non-financial corporations use derivatives. If hedging programs are effective, then firms using... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/impact-capital-based-regulation-bank-risk-taking-a-dynamic-model-722421 Finance and Economics Discussion Series, The Impact of Capital-Based Regulation on Bank... In recent years, new and more stringent federal regulations governing bank capital have been adopted, including insurance premia linked to banks'... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/capital-ratios-bank-lending-a-matched-bank-approach-723351 Finance and Economics Discussion Series, Capital Ratios and Bank Lending: A Matched Bank Approach,... This paper examines the impact of bank capital ratios on bank lending by comparing differences in loan growth to differences in capital ratios at sets of banks... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/a-fully-rational-liquidity-based-theory-ipo-underpricing-underperformance-723029 Finance and Economics Discussion Series, A Fully-Rational Liquidity-Based Theory of IPO... I present a fully-rational symmetric-information model of an IPO, and a dynamic imperfectly competitive model of trading in the IPO aftermarket. The model... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/external-habit-cyclicality-expected-stock-returns-722974 Finance and Economics Discussion Series, External Habit and the Cyclicality of Expected Stock... We estimate an equilibrium asset pricing model in which agents' preferences have an unobserved external habit using the efficient method of moments (EMM).... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/bias-local-projections-724205 Finance and Economics Discussion Series, Bias in Local Projections, 2020-010 | FRASER | St. Louis... Local projections (LPs) are a popular tool in macroeconomic research. We show that LPs are often used with very small samples in the time dimension.... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/investor-concentration-flows-cash-holdings-evidence-hedge-funds-724015 Finance and Economics Discussion Series, Investor Concentration, Flows, and Cash Holdings: Evidence... We show that when only a few investors own a substantial portion of a hedge fund's net asset value, flow volatility increases because investors' exogenous,... finance and economics discussion series cash holdings https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/distress-financial-sector-economic-activity-723187 Finance and Economics Discussion Series, Distress in the Financial Sector and Economic Activity,... This paper explores the relationship between the health of the financial sector and the rest of the economy. We develop an indicator of financial sector health... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/capturing-evolution-dealer-credit-terms-related-securities-financing-otc-derivatives-initial-results-new-senior-credit-officer-opinion-survey-dealer-financing-terms-723304 Finance and Economics Discussion Series, Capturing the Evolution of Dealer Credit Terms Related to... In the period prior to the financial crisis, leverage in the financial system increased substantially. This buildup was likely facilitated by, among other... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/evolving-macroeconomic-perceptions-term-structure-interest-rates-723258 Finance and Economics Discussion Series, Evolving Macroeconomic Perceptions and the Term Structure... We explore the role of evolving beliefs regarding the structure of the macroeconomy in improving our understanding of the term structure of interest rates... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/fast-semiconductor-prices-falling-723899 Finance and Economics Discussion Series, How Fast Are Semiconductor Prices Falling?, 2017-005 |... The Producer Price Index (PPI) for the United States suggests that semiconductor prices have barely been falling in recent years, a dramatic contrast to the... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/inflation-targeting-target-instability-722638 Finance and Economics Discussion Series, Inflation Targeting and Target Instability, 2000-001 |... Monetary policy is modeled as being governed by a known rule, except for a time-varying target rate of inflation. The variable target is taken as representing... finance and economics discussion series inflation targeting https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/learning-value-experimentation-722414 Finance and Economics Discussion Series, Learning by Doing and the Value of Experimentation,... Research on the implications of learning-by-doing has typically been restricted to specifications of the agent's decision problem for which estimation and... finance and economics learning by doing discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/estimated-variance-seasonally-adjusted-series-722768 Finance and Economics Discussion Series, Estimated Variance of Seasonally Adjusted Series, 2002-015... For model-based seasonal adjustment, there are explicit formulas for obtaining the variance of the seasonal factors or the seasonally adjusted series. For... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/asymmetric-adjustments-price-output-722490 Finance and Economics Discussion Series, Asymmetric Adjustments of Price and Output, 1997-031 |... Asymmetries in price adjustment can reconcile contrasts between rapid price movements in inflationary episodes, consistent with classical theories of flexible... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/credit-scoring-produce-a-disparate-impact-723315 Finance and Economics Discussion Series, Does Credit Scoring Produce a Disparate Impact?, 2010-058... The widespread use of credit scoring in the underwriting and pricing of mortgage and consumer credit has raised concerns that the use of these scores may... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/demographics-medical-care-spending-standard-non-standard-effects-722589 Finance and Economics Discussion Series, Demographics and Medical Care Spending: Standard and... In this paper, we examine the effects of likely demographic changes on medical spending for the elderly. Standard forecasts highlight the potential for greater... finance and economics discussion series medical care demographics spending https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/loan-commitments-private-firms-722906 Finance and Economics Discussion Series, Loan Commitments and Private Firms, 2004-027 | FRASER |... Bank lending is an important source of funding for firms. Most loans are in the form of credit lines. Empirical studies of line demand have been complicated by... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/financial-intermediation-investment-dynamics-business-cycle-fluctuations-723444 Finance and Economics Discussion Series, Financial Intermediation, Investment Dynamics and Business... I use micro data to quantify key features of U.S. firm financing. In particular, I establish that a substantial 35% of firms' investment is funded using... finance and economics discussion series financial intermediation investment dynamics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/ict-asset-prices-marshaling-evidence-new-measures-723910 Finance and Economics Discussion Series, ICT Asset Prices: Marshaling Evidence into New Measures,... This paper is a companion to our recent paper, "ICT Services and their Prices: What do they tell us about Productivity and Technology?" It provides the sources... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/computationally-convenient-distributional-assumptions-common-value-auctions-722464 Finance and Economics Discussion Series, Computationally Convenient Distributional Assumptions for... Although the mathematical foundations of common value auctions have been well understood since Milgrom and Weber (1982), equilibrium bidding strategies are... finance and economics discussion series convenient assumptions https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/market-definition-analysis-antitrust-banking-722511 Finance and Economics Discussion Series, Market Definition and the Analysis of Antitrust in... Finance and Economics Discussion Series, Market Definition and the Analysis of Antitrust in Banking, 1997-052 by Myron L. Kwast, Martha A. Starr, John D. Wolken finance and economics discussion series market definition https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/importance-employer--employer-flows-us-labor-market-722708 Finance and Economics Discussion Series, The Importance of Employer-to-Employer Flows in the U.S.... In order to measure the flexibility of the labor market, evaluate the job-worker matching process, and model business-cycle dynamics, economists have studied... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/efficiency-barriers-consolidation-european-financial-services-industry-722674 Finance and Economics Discussion Series, Efficiency Barriers to the Consolidation of the European... Cross-border consolidation of financial institutions within Europe has been relatively limited, possibly reflecting efficiency barriers to operating across... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/fha-fannie-mae-freddie-mac-great-recession-723821?page=1 Finance and Economics Discussion Series, FHA, Fannie Mae, Freddie Mac, and the Great Recession,... Did government mortgage programs mitigate the adverse economic effects of the financial crisis? We find that counties with greater participation in traditional... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/a-historical-welfare-analysis-social-security-program-benefit-723763?page=1 Finance and Economics Discussion Series, A Historical Welfare Analysis of Social Security: Whom Did... A well-established result in the literature is that Social Security reduces steady state welfare in a standard life cycle model. However, less is known about... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/faster-payments-market-structure-policy-considerations-723994 Finance and Economics Discussion Series, Faster Payments: Market Structure and Policy... The U.S. payments industry is in the process of developing ubiquitous, safe, faster electronic solutions for making a broad variety of business and personal... finance and economics discussion series faster payments market structure policy https://www.tdb.co.nz/ TDB Advisory | Corporate Finance and Economics Expertise Trusted financial and economic advisors in the public, private and social sectors of New Zealand. Wellington and Christchurch. finance and economics tdb advisory corporate expertise https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/financial-stability-optimal-interest-rate-policy-723857 Finance and Economics Discussion Series, Financial Stability and Optimal Interest-Rate Policy,... We study optimal interest-rate policy in a New Keynesian model in which the economy can experience financial crises and the probability of a crisis depends on... finance and economics discussion series financial stability interest rate https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/cyclicality-sales-regular-effective-prices-comment-723723 Finance and Economics Discussion Series, The Cyclicality of Sales, Regular and Effective Prices:... Coibion, Gorodnichenko, and Hong (2015) argue that the CPI underestimates the deceleration in consumer prices during economic downturns because the index fails... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/mechanics-a-graceful-exit-interest-reserves-segmentation-federal-funds-market-723264 Finance and Economics Discussion Series, The Mechanics of a Graceful Exit: Interest on Reserves and... To combat the financial crisis that intensified in the fall of 2008, the Federal Reserve injected a substantial amount of liquidity into the banking system.... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/downward-nominal-wage-rigidity-evidence-employment-cost-index-722600 Finance and Economics Discussion Series, Downward Nominal Wage Rigidity: Evidence from the... We examine the extent of downward nominal wage rigidity using the microdata underlying the BLS's employment cost index--an extensive, establishment-based... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/debt-deflation-effects-monetary-policy-723587 Finance and Economics Discussion Series, Debt Deflation Effects of Monetary Policy, 2014-037 |... This paper assesses the role that monetary policy plays in the decision to default using a General Equilibrium model with collateralized loans, trade in fiat... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/initial-public-offerings-hot-cold-markets-722817 Finance and Economics Discussion Series, Initial Public Offerings in Hot and Cold Markets, 2003-004... The literature on IPOs offers a wide variety of explanations to justify the dramatic swings in the volume of IPOs observed in the market. Many theories predict... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/us-firm-establishment-size-distributions-724094 Finance and Economics Discussion Series, On the U.S. Firm and Establishment Size Distributions,... This paper revisits the empirical evidence on the nature of firm and establishment size distributions in the United States using the Longitudinal Business... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/information-sharing-competition-motor-vehicle-industry-722463 Finance and Economics Discussion Series, Information Sharing and Competition in the Motor Vehicle... Up to six months ahead of actual production, U.S. automakers announce plans for their monthly domestic production of cars. A leading industry trade journal... finance and economics discussion series information sharing https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/bank-fees-aftermarkets-consumer-behavior-723948 Finance and Economics Discussion Series, Bank Fees, Aftermarkets, and Consumer Behavior, 2017-054 |... Fees for banking services have been a policy concern for over 20 years and the subject of several government agencies studies, which focused on the magnitude,... finance and economics discussion series bank fees https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/a-model-endogenous-loan-quality-collapse-shadow-banking-system-723692 Finance and Economics Discussion Series, A Model of Endogenous Loan Quality and the Collapse of the... I develop a macroeconomic model with a financial sector, in which banks can finance risky projects (loans) and can affect their quality by exerting a costly... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/diagnosing-treating-bifurcations-perturbation-analysis-dynamic-macro-models-723090 Finance and Economics Discussion Series, Diagnosing and Treating Bifurcations in Perturbation... In perturbation analysis of nonlinear dynamic systems, the presence of a bifurcation implies that the first-order behavior of the economy cannot be... finance and economics discussion series diagnosing treating bifurcations https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/incentives-mortgage-servicers-myths-realities-723190 Finance and Economics Discussion Series, The Incentives of Mortgage Servicers: Myths and Realities,... As foreclosure initiations have soared over the past couple of years, many have questioned whether mortgage servicers have the right incentives to work out... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/interest-rate-smoothing-optimal-monetary-policy-a-review-recent-empirical-evidence-722608 Finance and Economics Discussion Series, Interest-Rate Smoothing and Optimal Monetary Policy: A... The Federal Reserve and other central banks tend to change short-term interest rates in sequences of small steps in the same direction and reverse the... finance and economics discussion series interest rate https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/effect-past-future-economic-fundamentals-spending-pricing-behavior-frb-us-macroeconomic-model-722702 Finance and Economics Discussion Series, The Effect of Past and Future Economic Fundamentals on... This paper derives and presents mean leads and lags as well as patterns of relative importance weights implied by the PAC (polynomial-adjustment-cost)... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/exchange-rates-optimal-debt-composition-hedging-small-open-economies-723162 Finance and Economics Discussion Series, Exchange Rates, Optimal Debt Composition, and Hedging in... This paper develops a model of the firm's choice between debt denominated in local currency and that denominated in foreign currency in a small open economy... finance and economics discussion series exchange rates https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/output-become-predictable-changes-greenbook-forecast-accuracy-722978 Finance and Economics Discussion Series, Has Output Become More Predictable? Changes in Greenbook... Several researchers have recently documented a large reduction in output volatility. In contrast, this paper examines whether output has become more... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/liquidity-crises-mortgage-market-724035?page=1 Finance and Economics Discussion Series, Liquidity Crises in the Mortgage Market, 2018-016 | FRASER... Non-banks originated about half of all mortgages in 2016, and 75% of mortgages insured by the FHA or VA. Both shares are much higher than those observed at any... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/federal-reserve-board-statistical-releases-a-publications-history-723806?page=64 Finance and Economics Discussion Series, Federal Reserve Board Statistical Releases: A Publications... The Federal Reserve Board has published extensive statistical information on the U.S. economy and banking industry since 1914. This information has been... finance and economics federal reserve board discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/gses-mortgage-rates-long-run-effects-mortgage-securitization-722716 Finance and Economics Discussion Series, GSEs, Mortgage Rates, and the Long-Run Effects of Mortgage... Our paper compares mortgage securitization undertaken by government-sponsored enterprises (GSEs) with that undertaken by private firms, with an emphasis on how... finance and economics https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/heterogeneity-unemployment-dynamics-723802?page=1 Finance and Economics Discussion Series, Heterogeneity and Unemployment Dynamics, 2016-012 | FRASER... This paper develops new estimates of flows into and out of unemployment that allow for unobserved heterogeneity across workers as well as direct effects of... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/assessing-targeted-macroprudential-financial-regulation-case-2006-commercial-real-estate-guidance-banks-723599?page=1 Finance and Economics Discussion Series, Assessing Targeted Macroprudential Financial Regulation:... In January 2006, federal regulators issued guidance requiring banks with specific high concentrations of commercial real estate (CRE) loans to tighten... finance and economics discussion series assessing targeted financial https://edirc.repec.org/data/ifswucn.html Institute of Financial Studies, Southwestern University of Finance and Economics (SWUFE) |... Central index of economics institutions (academic, governmental and non-profit) organized by country and US state. finance and economics southwestern university institute financial studies https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/interaction-macroprudential-monetary-policies-affect-cross-border-bank-lending-724153 Finance and Economics Discussion Series, How Does the Interaction of Macroprudential and Monetary... We combine a rarely accessed BIS database on bilateral cross-border lending flows with cross-country data on macroprudential regulations. We study the... finance and economics discussion series how does https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/financial-capital-macroeconomy-a-quantitative-framework-723344 Finance and Economics Discussion Series, Financial Capital and the Macroeconomy: A Quantitative... Financial intermediation transforms short-term liquid assets into long-term capital assets. As a result, risk taking, in the form of long-term commitments... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/distress-financial-sector-economic-activity-723187?page=25 Finance and Economics Discussion Series, Distress in the Financial Sector and Economic Activity,... This paper explores the relationship between the health of the financial sector and the rest of the economy. We develop an indicator of financial sector health... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/intangible-capital-economic-growth-723041 Finance and Economics Discussion Series, Intangible Capital and Economic Growth, 2006-024 | FRASER... Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change, but our estimates... finance and economics discussion series intangible capital https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/differences-across-originators-cmbs-loan-underwriting-723322 Finance and Economics Discussion Series, Differences Across Originators in CMBS Loan Underwriting,... Differences in the organizational structure of CMBS loan originators may reflect differences in the incentives they face for underwriting risky loans. We treat... finance and economics discussion series https://fraser.stlouisfed.org/title/finance-economics-discussion-series-1491/financing-constraints-firm-dynamics-international-trade-723445 Finance and Economics Discussion Series, Financing Constraints, Firm Dynamics, and International... There is growing empirical support for the conjecture that access to credit is an important determinant of firms' export decisions. We study a multi-country... finance and economics discussion series financing constraints firm