Contact Information
202-452-3579
william.r.nelson@frb.gov

Fields of Interest
Monetary Policy
Banking and Financial Institutions
Financial Markets

Education
Ph.D., Economics, Yale University, 1999
M.S., Economics, Yale University, 1989
B.A., Arts and Sciences, University of Virginia, 1985

Professional Experience
Board of Governors of the Federal Reserve System, 1993-present
Research Assistant, Board of Governors of the Federal Reserve System, 1985-1987
Research Assistant, Yale University, 1988-1993
Teaching Assistant, Yale University, 1989-1990
Instructor, Yale University, 1992-1992

Selected Publications

• ''Central Bank Policy Rate Guidance and Financial Market Functioning'' (with Richhild Moessner), International Journal of Central Banking, vol. 4 (December 2008).
• ''Monetary Operations and the Financial Turmoil'' (with Claudio Borio), BIS Quarterly Review (March 2008), pp. 31-46.
• ''Monetary Policy Decisions: Preparing the inputs and communicating the outcomes,'' BIS Papers, vol. 37 (February 2008).
• ''Selected Indicators of Financial Stability'' (with Roberto Perli), Irving Fisher Committee's Bulletin on Central Bank Statistics, vol. 23 (October 2005), pp. 92-105.
• ''Interpreting the Significance of the Lagged Interest Rate in Estimated Monetary Policy Rules'' (with William B. English and Brian P. Sack), Contributions to Macroeconomics, vol. 3 (2003).
• ''Proposed Revision to the Federal Reserve Discount Window Lending Programs'' (with Brian F. Madigan), Federal Reserve Bulletin, vol. 88 (July 2002), pp. 313-19.
• ''Criteria for Central Bank Assets: Lessons from Pre-ECB Germany and France,'' New England Economic Review (Spring 2002), pp. 29-34.
• ''Pragmatic monitoring of financial stability'' (with Wayne Passmore), in Monetary and Economic Department, ed., BIS Papers No. 1: Marrying the macro- and microprudential dimensions of financial stability. Basel, Switzerland: Bank for International Settlements, 2001.
• ''Profit and Balance Sheet Developments at U.S. Commercial Banks in 1998'' (with Antulio N. Bomfim), Federal Reserve Bulletin, vol. 85 (June 1999), pp. 369-95.
• The Aggregate Change in Shares and the Level of Stock Prices, Finance and Economics Discussion Series 1999-08. Washington: Board of Governors of the Federal Reserve System, 1999.
• Why Does the Change in Shares Predict Stock Returns, Finance and Economics Discussion Series 1999-07. Washington: Board of Governors of the Federal Reserve System, 1999.
• Evidence of Excess Returns on Firms That Issue or Repurchase Equity, Finance and Economics Discussion Series 1999-06. Washington: Board of Governors of the Federal Reserve System, 1999.
• Bank Risk Rating of Business Loans (with William B. English), Finance and Economics Discussion Series 1998-51. Washington: Board of Governors of the Federal Reserve System, 1998.
• ''Recent Changes to the Federal Reserve's Survey of Terms of Business Lending'' (with Thomas F. Brady and William B. English), Federal Reserve Bulletin, vol. 84 (August 1998), pp. 604-15.
• ''Profit and Balance Sheet Developments at U.S. Commercial Banks in 1997'' (with William B. English), Federal Reserve Bulletin, vol. 84 (June 1998), pp. 391-419.