Economic Research
Papers
Finance and Economics Discussion Series
January 2026
Do Anecdotes Matter? Exploring the Beige Book through Textual Analysis from 1970 to 2025
Shengwu Du, Flora Haberkorn, Isabel Kitschelt, Seung Jung Lee, Anderson Monken, Dylan Saez, Kelsey Shipman, and Sandeep Thakur
January 2026
Firm Dynamics, Inflation, and the Transmission of Monetary Policy
January 2026
A Framework for Understanding the Vulnerabilities of New Money-Like Products
Kenechukwu Anadu, Patrick McCabe, JP Perez-Sangimino, and Nathan Swem
Papers
International Finance Discussion Papers
January 2026
To Find Relative Earnings Gains After the China Shock, Look Upstream and Outside Manufacturing
Justin R. Pierce, Peter K. Schott, and Cristina J. Tello-Trillo
January 2026
Productivity and Quality of Multi-product Firms
Mauro Caselli, Arpita Chatterjee, and Shengyu Li
March 2024 (Revised December 2025)
Inequality and Asset Prices during Sudden Stops
FEDS Notes
Assessing Recession Risks with State-Level Data
Hie Joo Ahn, Yunjong Eo, and Lucas Moyon
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.