2005-70 (December) Expectations Formation and the Effectiveness of Strategies for Limiting the Consequences of the Zero Bound on Interest Rates
David L. Reifschneider and John M. Roberts Abstract
| Full paper (280 KB PDF)
2005-69 (December) Using Structural Shocks to Identify Models of Investment
John M. Roberts Abstract
| Full paper (366 KB PDF)
2005-68 (December) Using Subjective Expectations to Forecast Longevity: Do Survey Respondents Know Something We Don't Know?
Maria G. Perozek Abstract
| Full paper (262 KB PDF)
2005-67 (December) Escaping the Samaritan's Dilemma: Implications of a Dynamic Model of Altruistic Intergenerational Transfers
Maria Perozek Abstract
| Full paper (274 KB PDF)
2005-66 (December) Modelling Inflation Dynamics: A Critical Review of Recent Research
Jeremy Rudd and Karl Whelan Abstract
| Full paper (399 KB PDF)
2005-64 (December) Post Brown vs. the Board of Education: The Effects of the End of Court-Ordered Desegregation
Byron F. Lutz Abstract
| Full paper (383 KB PDF)
2005-63 (December) Explaining Credit Default Swap Spreads with the Equity Volatility and Jump Risks of Individual Firms
Benjamin Yibin Zhang, Hao Zhou, and Haibin Zhu Abstract
| Full paper (333 KB PDF)
2005-61 (September 2006) How Did the 2003 Dividend Tax Cut Affect Stock Prices?
Gene Amromin, Paul Harrison, and Steven Sharpe Abstract
| Full paper (206 KB PDF)
2005-60 (October 2008) The Sustainability of Health Spending Growth
Glenn Follette and Louise Sheiner Abstract
| Full paper (156 KB PDF)
2005-59 (December) A No-Arbitrage Analysis of Economic Determinants of the Credit Spread Term Structure
Liuren Wu and Frank Xiaoling Zhang Abstract
| Full paper (474 KB PDF)
2005-57 (December) How Did the 2003 Dividend Tax Cut Affect Stock Prices and Corporate Payout Policy?
Gene Amromin, Paul Harrison, Nellie Liang, and Steve Sharpe Abstract
| Full paper (166 KB PDF)
2005-56 (December) Competition and Price Discrimination in the Market for Mailing Lists
Ron Borzekowski, Raphael Thomadsen, and Charles Taragin Abstract
| Full paper (282 KB PDF)
2005-55 (January 2006) Alternative Central Bank Credit Policies for Liquidity Provision in a Model of Payments
David C. Mills, Jr. Abstract
| Full paper (209 KB PDF)
2005-54 (November) Can Financial Innovation Help to Explain the Reduced Volatility of Economic Activity?
Karen E. Dynan, Douglas W. Elmendorf, and Daniel E. Sichel Abstract
| Full paper (425 KB PDF)
2005-53 (November) Jump-Diffusion Processes and Affine Term Structure Models: Additional Closed-Form Approximate Solutions, Distributional Assumptions for Jumps, and Parameter Estimates
J. Benson Durham Abstract
| Full paper (265 KB PDF)
2005-52 (December) Solving Stochastic Money-in-the-Utility-Function Models
Travis D. Nesmith Abstract
| Full paper (311 KB PDF)
2005-51 (November) Monetary Policy with Imperfect Knowledge
Athanasios Orphanides and John C. Williams Abstract
| Full paper (168 KB PDF)
2005-50 (November) Measuring Counterparty Credit Exposure to a Margined Counterparty
Michael S. Gibson Abstract
| Full paper (587 KB PDF)
2005-49 (October) Job Creation and Housing Construction: Constraints on Metropolitan Area Employment Growth
Raven E. Saks Abstract
| Full paper (366 KB PDF)
2005-48 (October) Term Structure Estimation with Survey Data on Interest Rate Forecasts
Don H. Kim and Athanasios Orphanides Abstract
| Full paper (410 KB PDF)
2005-46 (October) ATM Surcharge Bans and Bank Market Structure: The Case of Iowa and its Neighbors
Timothy H. Hannan Abstract
| Full paper (189 KB PDF)
2005-45 (October) The Effects of Welfare Reform and Related Policies on Single Mothers' Welfare Use and Employment
Adam Looney Abstract
| Full paper (429 KB PDF)
2005-44 (October) The Effect of Anticipated Tax Changes on Intertemporal Labor Supply and the Realization of Taxable Income
Adam Looney and Monica Singhal Abstract
| Full paper (498 KB PDF)
2005-42 (October) Nowcasting GDP and Inflation: The Real-Time Informational Content of Macroeconomic Data Releases
Domenico Giannone, Lucrezia Reichlin, and David Small Abstract
| Full paper (421 KB PDF)
2005-41 (October 2008) Estimates of Home Mortgage Originations, Repayments, and Debt on One-to-Four-Family Residences
Alan Greenspan and James Kennedy Abstract
| Full paper (729 KB PDF)
| Data
2005-39 (September) Do Nonfinancial Firms Use Interest Rate Derivatives to Hedge?
Daniel Covitz and Steven A. Sharpe Abstract
| Full paper (195 KB PDF)
2005-38 (September) How Biased are Measures of Cyclical Movements in Productivity and Hours?
Stephanie Aaronson and Andrew Figura Abstract
| Full paper (91 KB PDF)
2005-37 (September) A Computationally Efficient Characterization of Pure Strategy Nash Equilibria in Large Entry Games
Andrew Cohen Abstract
| Full paper (76 KB PDF)
2005-36 (September) Large Investors: Implications for Equilibrium Asset, Returns, Shock Absorption, and Liquidity
Matthew Pritsker Abstract
| Full paper (1135 KB PDF)
2005-35 (August) Liquidity, Default, Taxes and Yields on Municipal Bonds
Junbo Wang, Chunchi Wu, and Frank Zhang Abstract
| Full paper (222 KB PDF)
2005-33 (October 2008) An Arbitrage-Free Three-Factor Term Structure Model and the Recent Behavior of Long-Term Yields and Distant-Horizon Forward Rates
Don H. Kim and Jonathan H. Wright Abstract
| Full paper (237 KB PDF)
| Data
2005-32 (September) The Household Spending Response to the 2003 Tax Cut: Evidence from Survey Data
Julia Lynn Coronado, Joseph P. Lupton, and Louise M. Sheiner Abstract
| Full paper (112 KB PDF)
2005-31 (August) Has Output Become More Predictable? Changes in Greenbook Forecast Accuracy
Peter Tulip Abstract
| Full paper (195 KB PDF)
2005-30 (August) Why and When do Spot Prices of Crude Oil Revert to Futures Price Levels?
Mark W. French Abstract
| Full paper (387 KB PDF)
2005-29 (July) Using Federal Funds Futures Contracts for Monetary Policy Analysis
Refet S. Gurkaynak Abstract
| Full paper (255 KB PDF)
2005-28 (September) Gestation Lags and the Relationship Between Investment and Q in Regressions
Jonathan N. Millar Abstract
| Full paper (397 KB PDF)
2005-27 (May) External Habit and the Cyclicality of Expected Stock Returns
Thomas D. Tallarini, Jr. and Harold H. Zhang Abstract
| Full paper (625 KB PDF)
2005-26 (May) From the Horse's Mouth: Gauging Conditional Expected Stock Returns from Investor Surveys
Gene Amromin and Steven A. Sharpe Abstract
| Full paper (1031 KB PDF)
2005-25 (May) Prices, Production, and Inventories over the Automotive Model Year
Adam Copeland, Wendy Dunn, and George Hall Abstract
| Full paper (263 KB PDF)
2005-20 (May) Branch Banking, Bank Competition, and Financial Stability
Mark Carlson and Kris James Mitchener Abstract
| Full paper (453 KB PDF)
2005-19 (April) Temporary Partial Expensing in a General-Equilibrium Model
Rochelle M. Edge and Jeremy B. Rudd Abstract
| Full paper (466 KB PDF)
2005-18 (April) Yesterday's Bad Times are Today's Good Old Times: Retail Price Changes in the 1890s were Smaller, Less Frequent, and More Permanent
Alan Kackmeister Abstract
| Full paper (219 KB PDF)
2005-17 (April) Are Firms or Workers Behind the Shift Away from DB Pension Plan?
Stephanie Aaronson and Julia Coronado Abstract
| Full paper (478 KB PDF)
2005-16 (April) The Effects of Local Banking Market Structure on the Banking-Lending Channel of Monetary Policy
Robert M. Adams and Dean F. Amel Abstract
| Full paper (159 KB PDF)
2005-15 (April) The Effects of Competition from Large, Multimarket Firms on the Performance of Small, Single-Market Firms: Evidence from the Banking Industry
Allen N. Berger, Astrid A. Dick, Lawrence G. Goldberg, and Lawrence J. White Abstract
| Full paper (250 KB PDF)
2005-14 (April) Tracking the Source of the Decline in GDP Volatility: An Analysis of the Automobile Industry
Valerie A. Ramey and Daniel J. Vine Abstract
| Full paper (827 KB PDF)
2005-13 (March) Housing, House Prices, and the Equity Premium Puzzle
Morris A. Davis and Robert F. Martin Abstract
| Full paper (485 KB PDF)
2005-12 (March) A Nonlinear Look at Trend MFP Growth and the Business Cycle: Result from a Hybrid Kalman/Markov Switching Model
Mark W. French Abstract
| Full paper (309 KB PDF)
2005-11 (March) Job-Hopping in Silicon Valley: Some Evidence Concerning the Micro-Foundations of a High Technology Cluster
Bruce Fallick, Charles A. Fleischman, and James B. Rebitzer Abstract
| Full paper (245 KB PDF)
2005-10 (February) An Empirical Analysis of Bond Recovery Rates: Exploring a Structural View of Default
Daniel Covitz and Song Han Abstract
| Full paper (266 KB PDF)
2005-09 (January) Density Selection and Combination Under Model Ambiguity: An Application to Stock Returns
Stefania D'Amico Abstract
| Full paper (373 KB PDF)
2005-08 (January) Does Trading Frequency Affect Subordinated Debt Spreads?
Christopher Bianchi, Diana Hancock, and Laura Kawano Abstract
| Full paper (1582 KB PDF)
2005-07 (January) GSEs, Mortgage Rates, and Secondary Market Activities
Andreas Lehnert, Wayne Passmore, and Shane M. Sherlund Abstract
| Full paper (175 KB PDF)
2005-06 (January) The Effect of Housing Government-Sponsored Enterprises on Mortgage Rates
Wayne Passmore, Shane M. Sherlund, and Gillian Burgess Abstract
| Full paper (1554 KB PDF)
2005-05 (January) The GSE Implicit Subsidy and the Value of Government Ambiguity
Wayne Passmore Abstract
| Full paper (121 KB PDF)
2005-03 (January) Who Competes with Whom? The Case of Depository Institutions
Robert M. Adams, Kenneth P. Brevoort, and Elizabeth K. Kiser Abstract
| Full paper (236 KB PDF)
2005-02 (January) The Reform of October 1979: How It Happened and Why
David E. Lindsey, Athanasios Orphanides, and Robert H. Rasche Abstract
| Full paper (531 KB PDF)
2005-01 (January) Precautionary Savings Motives and Tax Efficiency of Household Portfolios: An Empirical Analysis
Gene Amromin Abstract
| Full paper (343 KB PDF)