1. Home
  2. Economic Research
  3. Meet the Economists

Meet the Economists

Photo of Eric C. Engstrom

Eric C. Engstrom

Deputy Associate Director Program Direction Section Monetary Affairs
202-452-3044
eric.c.engstrom@frb.gov

Education

  • Ph.D., Financial Economics, Columbia University, 2005
  • M.Phil., Financial Economic, Columbia University, 2003
  • B.A., Physics and Economics, Swarthmore College, 1996
Current Research Topics
  • Stock-Bond Comovement
  • Corporate Profits and Entrepreneurship
  • Economist

    Board of Governors of the Federal Reserve System

    2005 - present
  • Visiting Assistant Professor

    University of Michigan Ross School of Business

    2003 - 2004
  • Research Assistant

    Board of Governors of the Federal Reserve System

    1996 - 1997
  • Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (forthcoming). "Macro Risks and the Term Structure of Interest Rates," Journal of Financial Economics.
  • Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (2020). "Aggregate Demand and Aggregate Supply Effects of COVID-19: A Real-time Analysis," Finance and Economics Discussion Series 2020-049. Board of Governors of the Federal Reserve System (U.S.).
  • Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (2020). "Aggregate Demand and Aggregate Supply Effects of Covid-19: A Real-Time Analysis," Covid Economics, vol. 25, pp. 141-168.
  • Bekaert, Geert, Eric C. Engstrom, and Nancy R. Xu (2019). "The Time Variation in Risk Appetite and Uncertainty," NBER Working Paper No. 25673. Cambridge, MA: The National Bureau of Economic Research.
  • Engstrom, Eric C., and Steven A. Sharpe (2019). "The Near-Term Forward Yield Spread as a Leading Indicator: A Less Distorted Mirror," Financial Analysts Journal, vol. 75, no. 4, pp. 37-49.
  • Engstrom, Eric, and Steven A. Sharpe (2018). "The Near-Term Forward Yield Spread as a Leading Indicator: A Less Distorted Mirror," Finance and Economics Discussion Series 2018-055. Board of Governors of the Federal Reserve System (U.S.).
  • Engstrom, Eric, and Steve Sharpe (2018). "(Don't Fear) The Yield Curve," FEDS Notes 2018-06-28. Board of Governors of the Federal Reserve System (U.S.).
  • Bekaert, Geert, and Eric Engstrom (2017). "Asset Return Dynamics under Habits and Bad Environment–Good Environment Fundamentals," Journal of Political Economy, vol. 125, no. 3, pp. 713–760.
  • Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (2017). "Macro Risks and the Term Structure of Interest Rates," Finance and Economics Discussion Series 2017-058. Board of Governors of the Federal Reserve System (U.S.).
  • Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (2016). "Macro Risks and the Term Structure of Interest Rates," NBER Working Paper 22839. National Bureau of Economic Research.
  • Chen, Andrew Y., Eric C. Engstrom, and Olesya V. Grishchenko (2016). "Has the Inflation Risk Premium Fallen? Is it Now Negative?" FEDS Notes 2016-04-04. Board of Governors of the Federal Reserve System (U.S.).
  • Bekaert, Geert, and Engstrom, Eric (2015). "Asset Return Dynamics under Habits and Bad-Environment Good-Environment Fundamentals," Finance and Economics Discussion Series 2015-053. Board of Governors of the Federal Reserve System (U.S.).
  • Bekaert, Geert, Eric Engstrom, and Andrey Ermolov (2015). "Bad Environments, Good Environments: A Non-Gaussian Asymmetric Volatility Model," Journal of Econometrics, vol. 186, no. 1, pp. 258-275.
  • Bekaert, Geert, Eric Engstrom, and Steven R. Grenadier (2010). "Stock and Bond Returns with Moody Investors," Journal of Empirical Finance, vol. 17, no. 5, pp. 867-894.
  • Bekaert, G., Steve Grenadier, and Eric Engstrom (2010). "Stock and Bond Pricing with Moody Investors," Journal of Empirical Finance, vol. 17, no. 5, pp. 867-894.
  • Bekaert, Geert, Eric Engstrom, and Steve Grenadier (2006). "Stock and Bond Returns with Moody Investors," CEPR Discussion Papers 5951. Centre for Economic Policy Research.
  • Bekaert, Geert, Eric Engstrom, and Steven R. Grenadier (2006). "Stock and Bond Returns with Moody Investors," NBER Working Paper 12247. National Bureau of Economic Research.
  • Bekaert, Geert, Eric Engstrom, and Steve Grenadier (2004). "Stock and Bond Returns with Moody Investors," CEPR Discussion Papers 4501. Centre for Economic Policy Research.
  • Engstrom, Eric (2014). "Forecasting Stock Market Crashes is Hard--Especially Future Ones: Can Option Prices Help?" FEDS Notes 2014-05-07. Board of Governors of the Federal Reserve System (U.S.).
  • Bekaert, G., and Eric Engstrom (2010). "Inflation and the Stock Market: Understanding the 'Fed Model'," Journal of Monetary Economics, vol. 57, no. 3, pp. 278-294.
  • Bekaert, Geert, and Eric Engstrom (2009). "Asset Return Dynamics Under Bad Environment Good Environment Fundamentals," NBER Working Paper 15222. National Bureau of Economic Research.
  • Bekaert, Geert, Eric Engstrom, and Yuhang Xing (2009). "Risk, Uncertainty, and Asset Prices," Journal of Financial Economics, vol. 91, no. 1, pp. 59-82.
Last update: September 21, 2020