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Central Bank Research Hub - New York Fed Staff reports



Optimal Monetary Policy under Sudden Stops

by Vasco Cúrdia323
(Apr 2008)
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 Full text

Investment Shocks and Business Cycles (JEL C11, E22, E30)

by Alejandro Justiniano, Giorgio E. Primiceri, and Andrea Tambalotti322
(Mar 2008)
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 Full text

Forming Priors for DSGE Models (and How It Affectsthe Assessment of Nominal Rigidities) (JEL C32, E30)

by Marco Del Negro and Frank Schorfheide320
(Mar 2008)
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Settlement Delays in the Money Market (JEL C78, G21, L14)

by Leonardo Bartolini, Spence Hilton, and James McAndrews319
(Mar 2008)
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Forecasting Economic and Financial Variableswith Global VARs (JEL C32, C51, C53)

by M. Hashem Pesaran, Til Schuermann, and L. Vanessa Smith317
(Feb 2008)
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Investment Principles and Practices of the Federal Reserve's Domestic Securities Portfolio (JEL E52, E58)

by Jerry H. Tempelman313
(Jan 2008)
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 Full text

Run Equilibria in a Model of Financial Intermediation (JEL D82, D84, G21)

by Huberto M. Ennis and Todd Keister312
(Jan 2008)
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 Full text

2007

Is There Still an Added-Worker Effect? (JEL C1, E2, J0)

by Chinhui Juhn and Simon Potter310
(Dec 2007)
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The Effect of Employee Stock Options on Bank Investment Choice, Borrowing, and Capital (JEL G21, G28, G32, J33, M41)

by Hamid Mehran and Joshua Rosenberg305
(Oct 2007)
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Buybacks in Treasury Cash and Debt Management (JEL G2, H6)

by Kenneth D. Garbade and Matthew Rutherford304
(Oct 2007)
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The Microstructure of Cross-Autocorrelations (JEL G10, G14)

by Tarun Chordia, Asani Sarkar, and Avanidhar Subrahmanyam303
(Sep 2007)
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 Full text

Patterns of Rainfall Insurance Participation in Rural India (JEL G2, G22, O10, O16)

by Xavier Giné, Robert Townsend, and James Vickery302
(Sep 2007)
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Can Increasing Private School Participation and Monetary Loss in a Voucher Program Affect Public School Performance? Evidence from Milwaukee (JEL H4, I21, I28)

by Rajashri Chakrabarti300
(Sep 2007)
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How Do Treasury Dealers Manage Their Positions? (JEL G12, G20, G24)

by Michael J. Fleming and Joshua V. Rosenberg299
(Aug 2007)
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Job-Finding and Separation Rates in the OECD (JEL C78, D21, E24, J6, L26)

by Bart Hobijn and Aysegül Sahin298
(Aug 2007)
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Vesting and Control in Venture Capital Contracts (JEL D23, G24, G32, J33, M52)

by David R. Skeie297
(Aug 2007)
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The Long-Run Determinants of U.S. External Imbalances (JEL F21, F32, F41)

by Andrea Ferrero295
(Jul 2007)
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Monetary Regime Change and Business Cycles (JEL C1, C5, E5, F4)

by Vasco Cúrdia and Daria Finocchiaro294
(Jul 2007)
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Public Disclosure, Risk, and Performance at Bank Holding Companies

by Beverly Hirtle293
(Jul 2007)
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 Full text

Market Sidedness: Insights into Motives for Trade Initiation (JEL G10, G14, G34)

by Asani Sarkar and Robert A. Schwartz292
(Jul 2007)
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Hedge Funds, Financial Intermediation, and Systemic Risk (JEL G12, G21)

by John Kambhu, Til Schuermann, and Kevin J. Stiroh291
(Jul 2007)
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Has the Credit Derivative Swap MarketLowered the Cost of Corporate Debt? (JEL G24, G32)

by Adam B. Ashcraft and João A. C. Santos290
(Jul 2007)
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Extracting Business Cycle Fluctuations:What Do Time Series Filters Really Do? (JEL C22, E32)

by Arturo Estrella289
(Jun 2007)
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Generalized Canonical Regression (JEL C22, C51)

by Arturo Estrella288
(Jun 2007)
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A Framework for Identifying the Sources of Local Currency Price Stability with an Empirical Application (JEL E30, F10, F30, L10)

by Pinelopi K. Goldberg and Rebecca Hellerstein287
(Jun 2007)
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Inflation Persistence: Alternative Interpretations and Policy Implications (JEL E31, E52)

by Argia M. Sbordone286
(May 2007)
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A Flexible Approach to Parametric Inference in Nonlinear Time Series Models (JEL C11, C22, E17)

by Gary Koop and Simon Potter285
(May 2007)
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Reserve Levels and Intraday Federal Funds Rate Behavior (JEL E5, G21)

by Spence Hilton and Warren B. Hrung284
(May 2007)
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Why Are Switzerland's Foreign Assets so Low? The Growing Financial Exposure of a Small Open Economy (JEL F32, F33, F36)

by Nicolas Stoffels and Cédric Tille283
(Apr 2007)
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Liquidity-Saving Mechanisms (JEL E42, E58, G21)

by Antoine Martin and James McAndrews282
(Apr 2007)
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Why Does Overnight Liquidity Cost More Than Intraday Liquidity? (JEL E31, E51, E58)

by Joydeep Bhattacharya, Joseph H. Haslag, and Antoine Martin281
(Apr 2007)
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International Capital Flows (JEL F32, F36, F41)

by Cédric Tille and Eric van Wincoop280
(Mar 2007)
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The Bankruptcy Abuse Prevention and Consumer Protection Act: Means-Testing or Mean Spirited? (JEL G33, K35)

by Adam B. Ashcraft, Astrid A. Dick, and Donald P. Morgan279
(Mar 2007)
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Monetary Policy under Sudden Stops (JEL E5, F3, F4)

by Vasco Cúrdia278
(Mar 2007)
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A Retrospective Look at the U.S. Productivity Growth Resurgence (JEL O3, O4)

by Dale W. Jorgenson, Mun S. Ho, and Kevin J. Stiroh277
(Feb 2007)
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Credit Derivatives and Bank Credit Supply (JEL G21, G32)

by Beverly Hirtle276
(Feb 2007)
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How Wages Change: Micro Evidence from the International Wage Flexibility Project (JEL E3, J3, J5)

by William T. Dickens, Lorenz Goette, Erica L. Groshen, Steinar Holden, Julian Messina, and Mark E. Schweitzer275
(Feb 2007)
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Commitment and Equilibrium Bank Runs (JEL E61, G21, G28)

by Huberto M. Ennis and Todd Keister274
(Jan 2007)
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Defining and Detecting Predatory Lending (JEL D14, D18, D82, G18, G21)

by Donald P. Morgan273
(Jan 2007)
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Personal Bankruptcy and Credit Market Competition (JEL G2, K3, L1)

by Astrid Dick and Andreas Lehnert272
(Jan 2007)
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2006

Trend Inflation and Inflation Persistence in the New Keynesian Phillips Curve (JEL E31)

by Timothy Cogley and Argia M. Sbordone270
(Dec 2006)
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Borrowing without Debt? Understanding the U.S. International Investment Position (JEL F32, F34, F36, F41)

by Matthew Higgins, Thomas Klitgaard, and Cédric Tille271
(Dec 2006)
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Disagreement and Learning in a Dynamic Contracting Model (JEL D0, D8, G0)

by Tobias Adrian and Mark M. Westerfield269
(Dec 2006)
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Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis (JEL E66, F32, F47)

by Hamid Faruqee, Douglas Laxton, Dirk Muir, and Paolo Pesenti268
(Dec 2006)
 Abstract
 Full text

Deflationary Shocks and Monetary Rules: An Open-Economy Scenario Analysis (JEL E17, E52, F41)

by Douglas Laxton, Papa N’Diaye, and Paolo Pesenti267
(Dec 2006)
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 Full text

Y2K Options and the Liquidity Premium in TreasuryBond Markets (JEL G1, G13, G18)

by Suresh Sundaresan and Zhenyu Wang266
(Nov 2006)
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Empirical Evaluation of Asset Pricing Models:Arbitrage and Pricing Errors over Contingent Claims (JEL G1, G12)

by Zhenyu Wang and Xiaoyan Zhang265
(Oct 2006)
 Abstract
 Full text

Was the New Deal Contractionary? (JEL E52, E62, E65, N12)

by Gauti B. Eggertsson264
(Oct 2006)
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Payment Networks in a Search Model of Money (JEL E59, G29, L14)

by Antoine Martin, Michael Orlando, and David Skeie263
(Oct 2006)
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Price Discovery in the Foreign Currency Futuresand Spot Market (JEL F31, G13, G15)

by Joshua V. Rosenberg and Leah G. Traub262
(Oct 2006)
 Abstract
 Full text

Pass-Through of Exchange Rates to Consumption Prices: What Has Changed and Why (JEL F3, F4)

by José Manuel Campa and Linda S. Goldberg261
(Sep 2006)
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 Full text

Technology Diffusion within Central Banking: The Case of Real-Time Gross Settlement (JEL C72, E58, O19)

by Morten L. Bech and Bart Hobijn260
(Sep 2006)
 Abstract
 Full text

Congestion and Cascades in Payment Systems (JEL C50, G20)

by Walter E. Beyeler, Robert J. Glass, Morten Bech, and Kimmo Soramäki259
(Sep 2006)
 Abstract
 Full text

Endogenous Productivity and Development Accounting (JEL F43, O11, O33, O41)

by Roc Armenter and Amartya Lahiri258
(Aug 2006)
 Abstract
 Full text

On the Market Discipline of Informationally Opaque Firms:Evidence from Bank Borrowers in the Federal Funds Market (JEL G14, G18, G21)

by Adam Ashcraft and Hoyt Bleakley257
(Aug 2006)
 Abstract
 Full text

U.S. Wage and Price Dynamics: A Limited Information Approach (JEL C32, C52, E32)

by Argia M. Sbordone256
(Aug 2006)
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The Internationalization of the Dollar and Trade Balance Adjustment (JEL F3, F4)

by Linda Goldberg and Cédric Tille255
(Aug 2006)
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Stock Returns and Volatility: Pricing the Short-Run and Long-Run Components of Market Risk (JEL G10, G12)

by Tobias Adrian and Joshua Rosenberg254
(Jul 2006)
 Abstract
 Full text

The Relationship between Expected Inflation, Disagreement, and Uncertainty: Evidence from Matched Point and Density Forecasts (JEL C12, C22, E37)

by Robert Rich and Joseph Tracy253
(Jul 2006)
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 Full text

Visible and Hidden Risk Factors for Banks (JEL G12, G21)

by Til Schuermann and Kevin J. Stiroh252
(May 2006)
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 Full text

Arm's-Length Transactions as a Source of Incomplete Cross-Border Transmission: The Case of Autos (JEL F1, F3, F4)

by Rebecca Hellerstein and Sofia Berto Villas-Boas251
(Apr 2006)
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A Decomposition of the Sources of Incomplete Cross-Border Transmission (JEL F14, F3, F4)

by Rebecca Hellerstein250
(Apr 2006)
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 Full text

Expectations and Contagion in Self-Fulfilling Currency Attacks (JEL D82, F31, G15)

by Todd Keister249
(Apr 2006)
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 Full text

Three Decades of Financial Sector Risk (JEL F3, F4)

by Joel F. Houston and Kevin J. Stiroh248
(Apr 2006)
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 Full text

Distribution Margins, Imported Inputs, and the Sensitivity of the CPI to Exchange Rates (JEL F3, F4)

by José Manuel Campa and Linda S. Goldberg247
(Apr 2006)
 Abstract
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Two-Sided Markets and Intertemporal Trade Clustering: Insights into Trading Motives (JEL G10, G14)

by Asani Sarkar and Robert A. Schwartz246
(Apr 2006)
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 Full text

Volatility Accounting: A Production Perspective on Increased Economic Stability (JEL E32, O4)

by Kevin J. Stiroh245
(Apr 2006)
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Does the Market Discipline Banks? New Evidence from the Regulatory Capital Mix (JEL G21, G28, G32, G38)

by Adam B. Ashcraft244
(Mar 2006)
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 Full text

The Topology of Interbank Payment Flows (JEL E58, E59, G1)

by Kimmo Soramäki, Morten L. Bech, Jeffrey Arnold, Robert J. Glass, and Walter E. Beyeler243
(Mar 2006)
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Money and Modern Banking without Bank Runs (JEL E42, G21, G28)

by David R. Skeie242
(Mar 2006)
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Fiscal Multipliers and Policy Coordination (JEL E52, E63)

by Gauti B. Eggertsson241
(Mar 2006)
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Risks in U.S. Bank International Exposures (JEL F3, G2)

by Nicola Cetorelli and Linda Goldberg240
(Mar 2006)
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Illiquidity in the Interbank Payment System following Wide-Scale Disruptions (JEL C72, E58)

by Morten L. Bech and Rod Garratt239
(Mar 2006)
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Turbulent Firms, Turbulent Wages? (JEL J3, J5)

by Diego Comin, Erica L. Groshen, and Bess Rabin238
(Feb 2006)
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Could Capital Gains Smooth a Current Account Rebalancing? (JEL F31, F32, F41)

by Michele Cavallo and Cédric Tille237
(Jan 2006)
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 Full text

2005

A Review of Core Inflation and an Evaluationof Its Measures (JEL C53, E31, E52)

by Robert Rich and Charles Steindel236
(Dec 2005)
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Optimal Monetary and Fiscal Policy under Discretionin the New Keynesian Model: A Technical Appendix to "Great Expectations and the End of the Depression" (JEL E52, E63)

by Gauti B. Eggertsson235
(Dec 2005)
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Great Expectations and the End of the Depression (JEL E52, E63)

by Gauti B. Eggertsson234
(Dec 2005)
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The Return to Retail and the Performance of U.S. Banks (JEL G21, G32, L21)

by Beverly J. Hirtle and Kevin J. Stiroh233
(Dec 2005)
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One-Sided Test for an Unknown Breakpoint: Theory, Computation, and Application to Monetary Theory (JEL C12, C22, E52)

by Arturo Estrella and Anthony P. Rodrigues232
(Nov 2005)
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Establishing Credibility: Evolving Perceptions ofthe European Central Bank (JEL E5, E6, F3)

by Linda S. Goldberg and Michael W. Klein231
(Nov 2005)
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Does the Time Inconsistency Problem Make Flexible Exchange Rates Look Worse Than You Think? (JEL E33, E61, F41)

by Roc Armenter and Martin Bodenstein230
(Nov 2005)
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Can U.S. Monetary Policy Fall (Again) into an Expectation Trap? (JEL E31, E52, E58)

by Roc Armenter and Martin Bodenstein229
(Nov 2005)
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Time-Varying Pass-Through from Import Prices to Consumer Prices: Evidence from an Event Study with Real-Time Data (JEL E52, E58)

by Marlene Amstad and Andreas M. Fischer228
(Nov 2005)
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Money Market Integration (JEL E43, E44, E52)

by Leonardo Bartolini, Spence Hilton, and