Economic Research
Papers
Finance and Economics Discussion Series
May 2026
The Causal Effect of Debt on Interest Rates
Abhik Bhatt, Anthony M. Diercks, Benjamin Eyal, and Arsenios Skaperdas
May 2026
Bank Regulation and the Rise of Nonbank Intermediation
Celso Brunetti, Christoph Frei
May 2026
The Fed's Fine-Tune: Coarse Statements and Predictive Pressers
Ryan Byun, Bennett Fees, Margaret M. Jacobson, and Todd B. Walker
Papers
International Finance Discussion Papers
May 2026
Attention Allocation and Belief Distortions
May 2026
Tariffs and Goods-Market Search Frictions
Pawel M. Krolikowski and Andrew H. McCallum
March 2026
Risk in a Data-Rich Model
Dario Caldara, Haroon Mumtaz, and Molin Zhong
FEDS Notes
Measurement of “Computer Software and Accessories” Inflation
Alessandro Barbarino, Anthony M. Diercks, and Stephen Miran
The CSLT: Unifying U.S. Cross-Border Securities Holdings and Transactions Data
Andrew McCallum, Laura DeMane, Angela Garcia, Josie Gillette, Tanya Grover, Henry Haw, Hudson Hinshaw, Nyssa Kim, and Andrew Loucky
Data, Models and Tools
A large-scale estimated general equilibrium model of the U.S. economy for FRB/US Model
Models of daily yield curves, and a dynamic term structure model of Treasury yields
Survey of Consumer Finances (SCF):
Information on families' balance sheets, pensions, income, and demographic characteristics
View selected research data from the Federal Reserve Board's working papers and notes series.
Estimated Dynamic Optimization (EDO) Model:
A medium-scale New Keynesian dynamic stochastic general equilibrium (DSGE) model of the U.S. economy.
Disclaimer: The economic research that is linked from this page represents the views of the authors and does not indicate concurrence either by other members of the Board's staff or by the Board of Governors. The economic research and their conclusions are often preliminary and are circulated to stimulate discussion and critical comment.
The Board values having a staff that conducts research on a wide range of economic topics and that explores a diverse array of perspectives on those topics. The resulting conversations in academia, the economic policy community, and the broader public are important to sharpening our collective thinking.