2001-63 (December) The Effect of Market Size Structure on Competition: The Case of Small Business Lending
Allen N. Berger, Richard J. Rosen, and Gregory F. Udell Abstract
| Full paper (144 KB PDF)
2001-62 (December) Monetary Policy Rules, Macroeconomic Stability and Inflation: A View from the Trenches
Athanasios Orphanides Abstract
| Full paper (196 KB PDF)
2001-61 (December) Measurement Error in the Consumer Price Index: Where Do We Stand?
David E. Lebow and Jeremy B. Rudd Abstract
| Full paper (233 KB PDF)
2001-58 (December) Implications of Habit Formation for Optimal Monetary Policy
Thomas Laubach and Jeffery D. Amato Abstract
| Full paper (439 KB PDF)
2001-57 (December) Who Benefits from a Bull Market? An Analysis of Employee Stock Option Grants and Stock Prices
Nellie Liang and Scott Weisbenner Abstract
| Full paper (152 KB PDF)
2001-56 (December) Measuring the Natural Rate of Interest
Thomas Laubach and John C. Williams Abstract
| Full paper (204 KB PDF)
2001-55 (December) Monetary Policy in a Changing World: Rising Role of Expectations and the Anticipation Effect
Selva Demiralp Abstract
| Full paper (1044 KB PDF)
2001-54 (December) Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy
Gunter Coenen, Andrew T. Levin, and Volker Wieland Abstract
| Full paper (637 KB PDF)
2001-53 (December) Measuring Equilibrium Real Interest Rates: What Can We Learn from Yields on Indexed Bonds?
Antulio N. Bomfim Abstract
| Full paper (186 KB PDF)
2001-52 (November) Do Provisional Estimates of Output Miss Economic Turning Points?
Karen E. Dynan and Douglas W. Elmendorf Abstract
| Full paper (214 KB PDF)
2001-51 (December) Are Branch Banks Better Survivors? Evidence from the Depression Era
Mark Carlson Abstract
| Full paper (162 KB PDF)
2001-50 (December) Understanding Credit Derivatives and their Potential to Synthesize Riskless Assets
Antulio N. Bomfim Abstract
| Full paper (197 KB PDF)
2001-49 (November) Estimating Stochastic Volatility Diffusion Using Conditional Moments of Integrated Volatility
Tim Bollerslev and Hao Zhou Abstract
| Full paper (648 KB PDF)
2001-48 (November) Capital Requirements, Business Loans, and Business Cycles: An Empirical Analysis of the Standardized Approach in the New Basel Capital Accord
Seth B. Carpenter, William Whitesell, and Egon Zakrajsek Abstract
| Full paper (148 KB PDF)
2001-47 (November) Sacrifice Ratios and Monetary Policy Credibility: Do Smaller Budget Deficits, Inflation-Indexed Debt, and Inflation Targets Lower Disinflation Costs?
J. Benson Durham Abstract
| Full paper (170 KB PDF)
2001-46 (November) Term Structure of Interest Rates with Regime Shifts
Ravi Bansal and Hao Zhou Abstract
| Full paper (730 KB PDF)
2001-45 (October) Imperfect Credibility and Inflation Persistence
Christopher J. Erceg and Andrew T. Levin Abstract
| Full paper (625 KB PDF)
2001-44 (November) Estimating Changes in Trend Growth of Total Factor Productivity: Kalman and H-P Filters versus a Markov-Switching Framework
Mark W. French Abstract
| Full paper (143 KB PDF)
2001-43 (October) The Competitive Implications of Multimarket Bank Branching
Timothy H. Hannan and Robin A. Prager Abstract
| Full paper (81 KB PDF)
2001-42 (October) The Effect of Monetary Policy on Monthly and Quarterly Stock Market Returns
J. Benson Durham Abstract
| Full paper (147 KB PDF)
2001-41 (November) An Analytical Approach to the Welfare Cost of Business Cycles and the Benefit from Activist Monetary Policy
Michael T. Kiley Abstract
| Full paper (106 KB PDF)
2001-40 (October) Optimal Investment With Fixed Refinancing Costs
Jason G. Cummins and Ingmar Nyman Abstract
| Full paper (292 KB PDF)
2001-38 (October) To Surcharge or Not To Surcharge: An Empirical Investigation of ATM Pricing
Timothy H. Hannan, Elizabeth K. Kiser, Robin A. Prager, and James J. McAndrews Abstract
| Full paper (65 KB PDF)
2001-37 (October) Understanding the Role of Recovery in Default Risk Models: Empirical Comparisons and Implied Recovery Rates
Gurdip Bakshi, Dilip Madan, and Frank Zhang Abstract
| Full paper (534 KB PDF)
2001-35 (August) The Effects of Dynamic Changes in Bank Competition on the Supply of Small Business Credit
Allen N. Berger, Lawrence G. Goldberg, and Lawrence J. White Abstract
| Full paper (116 KB PDF)
2001-34 (August) The Ability of Banks to Lend to Informationally Opaque Small Businesses
Allen N. Berger, Leora F. Klapper, and Gregory F. Udell Abstract
| Full paper (224 KB PDF)
2001-33 (August) Systemic Risk and Financial Consolidation: Are They Related?
Gianni De Nicolo and Myron L. Kwast Abstract
| Full paper (3136 KB PDF)
2001-32 (July) Reexamining Stock Valuation and Inflation: The Implications of Analysts' Earnings Forecasts
Steven A. Sharpe Abstract
| Full paper (281 KB PDF)
2001-31 (July) How Accurate Are Value-at-Risk Models at Commercial Banks?
Jeremy Berkowitz and James O'Brien Abstract
| Full paper (161 KB PDF)
2001-26 (June) GSEs, Mortgage Rates, and the Long-Run Effects of Mortgage Securitization
Wayne Passmore, Roger Sparks, and Jamie Ingpen Abstract
| Full paper (296 KB PDF)
2001-24 (May) Anticipations of Monetary Policy in Financial Markets
Joe Lange, Brian Sack, and William Whitesell Abstract
| Full paper (197 KB PDF)
2001-23 (May) Does Stock Market Wealth Matter for Consumption?
Karen E. Dynan and Dean M. Maki Abstract
| Full paper (202 KB PDF)
2001-22 (April) Using Subordinated Debt to Monitor Bank Holding Companies: Is it Feasible?
Diana Hancock and Myron L. Kwast Abstract
| Full paper (1134 KB PDF)
2001-21 (April) Disentangling the Wealth Effect: A Cohort Analysis of Household Saving in the 1990s
Dean M. Maki and Michael G. Palumbo Abstract
| Full paper (150 KB PDF)
2001-20 (April) The Production-Side Approach to Estimating Embodied Technological Change
Plutarchos Sakellaris and Daniel J. Wilson Abstract
| Full paper (400 KB PDF)
2001-19 (May) Looking Ahead: Young Men, Wage Growth, and Labor Market Participation
Stephanie Aaronson Abstract
| Full paper (403 KB PDF)
2001-18 (May) The Importance of Employer-to-Employer Flows in the U.S. Labor Market
Bruce C. Fallick and Charles A. Fleischman Abstract
| Full paper (169 KB PDF)
2001-15 (May) Investigating the Sources of Default Risk: Lessons from Empirically Evaluating Credit Risk Models
Gurdip Bakshi, Dilip Madan, and Frank Zhang Abstract
| Full paper (690 KB PDF)
2001-14 (April) Measuring the Reaction of Monetary Policy to the Stock Market
Roberto Rigobon and Brian Sack Abstract
| Full paper (514 KB PDF)
2001-13 (February) How Well Does the New Keynesian Sticky-Price Model Fit the Data?
John M. Roberts Abstract
| Full paper (150 KB PDF)
2001-12 (March) The Effect of Past and Future Economic Fundamentals on Spending and Pricing Behavior in the FRB/US Macroeconomic Model
Peter von zur Muehlen Abstract
| Full paper (139 KB PDF)
2001-11 (February) Optimal Portfolio Allocation in a World Without Treasury Securities
Antulio N. Bomfim Abstract
| Full paper (71 KB PDF)
2001-10 (February) The Pavlovian Response of Term Rates to Fed Announcements
Selva Demiralp and Oscar Jorda Abstract
| Full paper (518 KB PDF)
2001-09 (February) A Primer on the Economics and Time Series Econometrics of Wealth Effects
Morris A. Davis and Michael G. Palumbo Abstract
| Full paper (376 KB PDF)
2001-08 (February) Estimates of the Productivity Trend Using Time-Varying Parameter Techniques
John M. Roberts Abstract
| Full paper (98 KB PDF)
2001-07 (February) Transition Dynamics in Vintage Capital Models: Explaining the Postwar Catch-Up of Germany and Japan
John C. Williams and Simon Gilchrist Abstract
| Full paper (215 KB PDF)
2001-06 (February) Production Function Estimation With Industry Capacity Data
Plutarchos Sakellaris Abstract
| Full paper (219 KB PDF)
2001-02 (January) Activist vs. Non-Activist Monetary Policy: Optimal Rules Under Extreme Uncertainty (A Primer on Robust Control)
Peter von zur Muehlen Abstract
| Full paper (219 KB PDF)
2001-01 (January) NAIRU Uncertainty and Nonlinear Policy Rules
Laurence H. Meyer, Eric T. Swanson, and Volker W. Wieland Abstract
| Full paper (99 KB PDF)