Finance and Economics Discussion Series
2013 FEDS Papers 
2013-29 (May)
The History of Cyclical Macroprudential Policy in the United States
Douglas J. Elliott, Greg Feldberg, and Andreas Lehnert
Abstract | Full paper (1 MB PDF)
The History of Cyclical Macroprudential Policy in the United States
Douglas J. Elliott, Greg Feldberg, and Andreas Lehnert
Abstract | Full paper (1 MB PDF)
2013-28 (May)
Estate vs. Capital Gains Taxation: An Evaluation of Prospective Policies for Taxing Wealth at the Time of Death
Robert B. Avery, Daniel Grodzicki, and Kevin B. Moore
Abstract | Full paper (371 KB PDF)
Estate vs. Capital Gains Taxation: An Evaluation of Prospective Policies for Taxing Wealth at the Time of Death
Robert B. Avery, Daniel Grodzicki, and Kevin B. Moore
Abstract | Full paper (371 KB PDF)
2013-27 (May)
Declining Migration Within the US: The Role of the Labor Market
Raven Molloy, Christopher L. Smith, and Abigail Wozniak
Abstract | Full paper (369 KB PDF)
Declining Migration Within the US: The Role of the Labor Market
Raven Molloy, Christopher L. Smith, and Abigail Wozniak
Abstract | Full paper (369 KB PDF)
2013-26 (May)
The Long and the Short of Household Formation
Andrew D. Paciorek
Abstract | Full paper (352 KB PDF)
The Long and the Short of Household Formation
Andrew D. Paciorek
Abstract | Full paper (352 KB PDF)
2013-25 (May)
The Nature of Countercyclical Income Risk
Fatih Guvenen, Serdar Ozkan, and Jae Song
Abstract | Full paper (1 MB PDF)
The Nature of Countercyclical Income Risk
Fatih Guvenen, Serdar Ozkan, and Jae Song
Abstract | Full paper (1 MB PDF)
2013-24 (May)
The Informational Content of the Embedded Deflation Option in TIPS
Olesya V. Grishchenko, Joel M. Vanden, and Jianing Zhang
Abstract | Full paper (803 KB PDF)
The Informational Content of the Embedded Deflation Option in TIPS
Olesya V. Grishchenko, Joel M. Vanden, and Jianing Zhang
Abstract | Full paper (803 KB PDF)
2013-23 (May)
Made Poorer by Choice: Worker Outcomes in Social Security v. Private Retirement Accounts
Javed I. Ahmed, Brad M. Barber, and Terrance Odean
Abstract | Full paper (780 KB PDF)
Made Poorer by Choice: Worker Outcomes in Social Security v. Private Retirement Accounts
Javed I. Ahmed, Brad M. Barber, and Terrance Odean
Abstract | Full paper (780 KB PDF)
2013-22 (May)
Early Withdrawals from Retirement Accounts During the Great Recession
Robert Argento, Victoria L. Bryant, and John Sabelhaus
Abstract | Full paper (233 KB PDF)
Early Withdrawals from Retirement Accounts During the Great Recession
Robert Argento, Victoria L. Bryant, and John Sabelhaus
Abstract | Full paper (233 KB PDF)
2013-21 (April)
Financial Stability Monitoring
Tobias Adrian, Daniel Covitz, and Nellie Liang
Abstract | Full paper (480 KB PDF)
Financial Stability Monitoring
Tobias Adrian, Daniel Covitz, and Nellie Liang
Abstract | Full paper (480 KB PDF)
2013-20 (April)
Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis
Fatih Guvenen, Burhanettin Kuruscu, and Serdar Ozkan
Abstract | Full paper (580 KB PDF) | Full paper (Screen Reader Version)
Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis
Fatih Guvenen, Burhanettin Kuruscu, and Serdar Ozkan
Abstract | Full paper (580 KB PDF) | Full paper (Screen Reader Version)
2013-19 (April)
The Ins and Outs of Forecasting Unemployment: Using Labor Force Flows to Forecast the Labor Market
Regis Barnichon and Christopher J. Nekarda
Abstract | Full paper (259 KB PDF) | Full paper (Screen Reader Version)
The Ins and Outs of Forecasting Unemployment: Using Labor Force Flows to Forecast the Labor Market
Regis Barnichon and Christopher J. Nekarda
Abstract | Full paper (259 KB PDF) | Full paper (Screen Reader Version)
2013-18 (April)
Uncertainty, Risk, and Incentives: Theory and Evidence
Zhiguo He, Si Li, Bin Wei, and Jianfeng Yu
Abstract | Full paper (629 KB PDF) | Full paper (Screen Reader Version)
Uncertainty, Risk, and Incentives: Theory and Evidence
Zhiguo He, Si Li, Bin Wei, and Jianfeng Yu
Abstract | Full paper (629 KB PDF) | Full paper (Screen Reader Version)
2013-17 (April)
Exchange Rates, Monetary Policy Statements, and Uncovered Interest Parity: Before and After the Zero Lower Bound
Michael T. Kiley
Abstract | Full paper (246 KB PDF) | Full paper (Screen Reader Version)
Exchange Rates, Monetary Policy Statements, and Uncovered Interest Parity: Before and After the Zero Lower Bound
Michael T. Kiley
Abstract | Full paper (246 KB PDF) | Full paper (Screen Reader Version)
2013-16 (April)
Monetary Policy Statements, Treasury Yields, and Private Yields: Before and After the Zero Lower Bound
Michael T. Kiley
Abstract | Full paper (216 KB PDF) | Full paper (Screen Reader Version)
Monetary Policy Statements, Treasury Yields, and Private Yields: Before and After the Zero Lower Bound
Michael T. Kiley
Abstract | Full paper (216 KB PDF) | Full paper (Screen Reader Version)
2013-15 (April)
The Response of Equity Prices to Movements in Long-term Interest Rates Associated With Monetary Policy Statements: Before and After the Zero Lower Bound
Michael T. Kiley
Abstract | Full paper (237 KB PDF) | Full paper (Screen Reader Version)
The Response of Equity Prices to Movements in Long-term Interest Rates Associated With Monetary Policy Statements: Before and After the Zero Lower Bound
Michael T. Kiley
Abstract | Full paper (237 KB PDF) | Full paper (Screen Reader Version)
2013-14 (April)
Expectations of functions of stochastic time with application to credit risk modeling
Ovidiu Costin, Michael B. Gordy, Min Huang, and Pawel J. Szerszen
Abstract | Full paper (485 KB PDF)
Expectations of functions of stochastic time with application to credit risk modeling
Ovidiu Costin, Michael B. Gordy, Min Huang, and Pawel J. Szerszen
Abstract | Full paper (485 KB PDF)
2013-13 (April)
Discovering the Universe: Measuring the Role of Finance Companies in the U.S. Economy
Lisa Chen, Kathleen W. Johnson, and Arthur B. Kennickell
Abstract | Full paper (572 KB PDF) | Full paper (Screen Reader Version)
Discovering the Universe: Measuring the Role of Finance Companies in the U.S. Economy
Lisa Chen, Kathleen W. Johnson, and Arthur B. Kennickell
Abstract | Full paper (572 KB PDF) | Full paper (Screen Reader Version)
2013-12 (April)
Welfare Costs of Shifting Trend Inflation
Taisuke Nakata
Abstract | Full paper (308 KB PDF) | Full paper (Screen Reader Version)
Welfare Costs of Shifting Trend Inflation
Taisuke Nakata
Abstract | Full paper (308 KB PDF) | Full paper (Screen Reader Version)
2013-11 (April)
Lessons from the Historical Use of Reserve Requirements in the United States to Promote Bank Liquidity
Mark A. Carlson
Abstract | Full paper (143 KB PDF) | Full paper (Screen Reader Version)
Lessons from the Historical Use of Reserve Requirements in the United States to Promote Bank Liquidity
Mark A. Carlson
Abstract | Full paper (143 KB PDF) | Full paper (Screen Reader Version)
2013-10 (April)
From Wall Street to Main Street: The Impact of the Financial Crisis on Consumer Credit Supply
Rodney Ramcharan, Skander Van den Heuvel, and Stephane Verani
Abstract | Full paper (514 KB PDF) | Full paper (Screen Reader Version)
From Wall Street to Main Street: The Impact of the Financial Crisis on Consumer Credit Supply
Rodney Ramcharan, Skander Van den Heuvel, and Stephane Verani
Abstract | Full paper (514 KB PDF) | Full paper (Screen Reader Version)
2013-09 (April)
Uncertainty at the Zero Lower Bound
Taisuke Nakata
Abstract | Full paper (810 KB PDF) | Full paper (Screen Reader Version)
Uncertainty at the Zero Lower Bound
Taisuke Nakata
Abstract | Full paper (810 KB PDF) | Full paper (Screen Reader Version)
2013-08 (April)
Stock Prices, News, and Economic Fluctuations: Comment
Andre Kurmann and Elmar Mertens
Abstract | Full paper (332 KB PDF) | Full paper (Screen Reader Version)
Stock Prices, News, and Economic Fluctuations: Comment
Andre Kurmann and Elmar Mertens
Abstract | Full paper (332 KB PDF) | Full paper (Screen Reader Version)
2013-07 (April)
A Test for Selection in Matched Administrative Earnings Data
Jesse Bricker and Gary V. Engelhardt
Abstract | Full paper (93 KB PDF)
A Test for Selection in Matched Administrative Earnings Data
Jesse Bricker and Gary V. Engelhardt
Abstract | Full paper (93 KB PDF)
2013-06 (April)
Price and Quality Dispersion in an Offshoring Market: Evidence from Semiconductor Production Services
David M. Byrne, Brian K. Kovak, and Ryan Michaels
Abstract | Full paper (966 KB PDF) | Full paper (Screen Reader Version)
Price and Quality Dispersion in an Offshoring Market: Evidence from Semiconductor Production Services
David M. Byrne, Brian K. Kovak, and Ryan Michaels
Abstract | Full paper (966 KB PDF) | Full paper (Screen Reader Version)
2013-05 (April)
Government Debt and Macroeconomic Activity: A Predictive Analysis for Advanced Economies
Deniz Baglan and Emre Yoldas
Abstract | Full paper (327 KB PDF) | Full paper (Screen Reader Version)
Government Debt and Macroeconomic Activity: A Predictive Analysis for Advanced Economies
Deniz Baglan and Emre Yoldas
Abstract | Full paper (327 KB PDF) | Full paper (Screen Reader Version)
2013-04 (April)
Why the Geographic Variation in Health Care Spending Can't Tell Us Much about the Efficiency or Quality of our Health Care System
Louise Sheiner
Abstract | Full paper (244 KB PDF) | Full paper (Screen Reader Version)
Why the Geographic Variation in Health Care Spending Can't Tell Us Much about the Efficiency or Quality of our Health Care System
Louise Sheiner
Abstract | Full paper (244 KB PDF) | Full paper (Screen Reader Version)
2013-03 (April)
Bank Liquidity Hoarding and the Financial Crisis: An Empirical Evaluation
Jose Berrospide
Abstract | Full paper (552 KB PDF) | Full paper (Screen Reader Version)
Bank Liquidity Hoarding and the Financial Crisis: An Empirical Evaluation
Jose Berrospide
Abstract | Full paper (552 KB PDF) | Full paper (Screen Reader Version)
2013-02 (April)
Financing Constraints, Firm Dynamics, and International Trade
Stephane Verani and Till Gross
Abstract | Full paper (2 MB PDF)
Financing Constraints, Firm Dynamics, and International Trade
Stephane Verani and Till Gross
Abstract | Full paper (2 MB PDF)
2013-01 (January)
The Federal Reserve's Balance Sheet and Earnings: A primer and projections
Seth B. Carpenter, Jane E. Ihrig, Elizabeth C. Klee, Daniel W. Quinn, and Alexander H. Boote
Abstract | Full paper (1 MB PDF) | Full paper (Screen Reader Version)
The Federal Reserve's Balance Sheet and Earnings: A primer and projections
Seth B. Carpenter, Jane E. Ihrig, Elizabeth C. Klee, Daniel W. Quinn, and Alexander H. Boote
Abstract | Full paper (1 MB PDF) | Full paper (Screen Reader Version)