Professional Experience

• • Economist

    Board of Governors of the Federal Reserve System

  • 1999 - present

• • Adjunct Professor

    Johns Hopkins University, Zanvyl Krieger School of Arts and Sciences

  • 2001 - 2004

• • Economist

    Federal Reserve Bank of New York

  • 1995 - 1999

• • Adjunct Professor

    Columbia University, Department of Economics and School of International and Public Affairs

  • 1997 - 1999

Publications

• Bassett, William F., Mary Beth Chosak, John C. Driscoll, and Egon Zakrajsek (2012). "Changes in Bank Lending Standards and the Macroeconomy," Finance and Economics Discussion Series 2012-24. Board of Governors of the Federal Reserve System (U.S.).
• English, William B., Skander J. Van den Heuvel, and Egon Zakrajsek (2012). "Interest Rate Risk and Bank Equity Valuations," Finance and Economics Discussion Series 2012-26. Board of Governors of the Federal Reserve System (U.S.).
• Gilchrist, Simon, and Egon Zakrajsek (2012). "Credit Spreads and Business Cycle Fluctuations," American Economic Review, vol. 102, no. 4, pp. 1692-1720.
• Gilchrist, Simon, Jae W. Sim, and Egon Zakrajsek (2012). "Misallocation and Financial Market Frictions: Some Direct Evidence from the Dispersion in Borrowing Costs," Finance and Economics Discussion Series 2012-08. Board of Governors of the Federal Reserve System (U.S.).
• Faust, Jon, Simon Gilchrist, Jonathan H. Wright, and Egon Zakrajsek (2011). "Credit Spreads as Predictors of Real-Time Economic Activity: A Bayesian Model-Averaging Approach," NBER Working Papers 16725. National Bureau of Economic Research, Inc.
• Gilchrist, Simon, and Egon Zakrajsek (2011). "Monetary Policy and Credit Supply Shocks," IMF Economic Review, vol. 59, no. 2, pp. 195-232.
• Gilchrist, Simon, Vladimir Yankov, and Egon Zakrajsek (2009). "Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets," Journal of Monetary Economics, vol. 56, no. 4, pp. 471-493.
• Gilchrist, Simon, and Egon Zakrajsek (2007). "Investment and the Cost of Capital: New Evidence from the Corporate Bond Market," NBER Working Papers 13174. National Bureau of Economic Research, Inc.
• McCarthy, Jonathan, and Egon Zakrajsek (2007). "Inventory Dynamics and Business Cycles: What has Changed?" Journal of Money, Credit, and Banking, vol. 39, no. 2-3, pp. 591-613.
• Zakrajsek, Egon, Andrew T. Levin, and Roberto Perli (2007). "Frictions in the Markets for Corporate Debt and Credit Derivatives," in Proceedings of the Fourth Central Bank Conference on Risk Management and Systemic Risk. Frankfurt: European Central Bank.
• Levin, Andrew T., Fabio M. Natalucci, and Egon Zakrajsek (2004). "The Magnitude and Cyclical Behavior of Financial Market Frictions," Finance and Economics Discussion Series 2004-70. Board of Governors of the Federal Reserve System (U.S.).
• Bassett, William F., and Egon Zakrajsek (2003). "Recent Developments in Business Lending by Commercial Banks," Federal Reserve Bulletin, vol. 89, no. 12, pp. 477-492.
• Bassett, William F., and Egon Zakrajsek (2001). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 2000," Federal Reserve Bulletin, vol. 87, no. 6, pp. 367-393.
• Carpenter, Seth B., William Whitesell, and Egon Zakrajsek (2001). "Capital Requirements, Business Loans, and Business Cycles: An Empirical Analysis of the Standardized Approach in the New Basel Capital Accord," Finance and Economics Discussion Series 2001-48. Board of Governors of the Federal Reserve System (U.S.).
• Bassett, William F., and Egon Zakrajsek (2000). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 1999," Federal Reserve Bulletin, vol. 86, no. 6, pp. 367-395.
• Harrigan, James, and Egon Zakrajsek (2000). "Factor Supplies and Specialization in the World Economy," Finance and Economics Discussion Series 2000-43. Board of Governors of the Federal Reserve System (U.S.).
• Higgins, Matthew, and Egon Zakrajsek (2000). "Purchasing Power Parity: Three Stakes through the Heart of the Unit Root Null," Finance and Economics Discussion Series 2000-22. Board of Governors of the Federal Reserve System (U.S.).
• McCarthy, Jonathan, and Egon Zakrajsek (2000). "Microeconomic Inventory Adjustment: Evidence from U.S. Firm-Level Data," Finance and Economics Discussion Series 2000-24. Board of Governors of the Federal Reserve System (U.S.).
• McCarthy, Jonathan, and Egon Zakrajsek (2000). "Microeconomic Inventory Adjustment: Evidence from U.S. Firm-Level Data," Staff Reports 101. Federal Reserve Bank of New York.
• Gilchrist, Simon, and Egon Zakrajsek (1998). "The Importance of Credit for Macroeconomic Activity: Identification through Heterogeneity," in Brakman, Steven, Hans van Ees and Simon Kuipers K. eds., Market Behaviour and Macroeconomic Modelling. London: Macmillan Press, pp. 129-157.
• Gilchrist, Simon G., and Egon Zakrajsek (1995). "The Importance of Credit for Macroeconomic Activity: Identification through Heterogeneity," in Peek, Joe, Eric Rosengren S. eds., Is Bank Lending Important for the Transmission of Monetary Policy? Boston: Federal Reserve Bank of Boston, pp. 129-158.

Other Activities