Meet the Researchers
Daniel Villar
Principal Economist
Prices and Wages Section
Research and Statistics
Education
- Ph.D., Economics, Columbia University, 2016
- B.A., Economics and Mathematics, Columbia University, 2010
Current Research Topics
- Sticky Prices
- Wages
Economist
Board of Governors of the Federal Reserve System
2016 - present
- Retrospective on the Federal Reserve Board Staff’s Inflation Forecast Errors since 2019
Ekaterina Peneva, Jeremy Rudd, and Daniel Villar
Finance and Economics Discussion Series (2025)
https://doi.org/10.17016/FEDS.2025.069 - Inflation since the Pandemic: Lessons and Challenges
Ina Hajdini, Adam Shapiro, A. Lee Smith, and Daniel Villar
Finance and Economics Discussion Series (2025)
https://doi.org/10.17016/FEDS.2025.070 - Micro evidence: United States
Shaowen Luo and Daniel Villar
Research Handbook on Inflation (2025)
https://doi.org/10.4337/9781035327768.00022 - Post-Pandemic Price Flexibility in the U.S.: Evidence and Implications for Price Setting Models
Hugh Montag and Daniel Villar
Finance and Economics Discussion Series (2025)
https://doi.org/10.17016/FEDS.2025.024 - What do various wage measures tell us about underlying wage growth?
Hie Joo Ahn, Lucas Moyon, and Daniel Villar
FEDS Notes (2025)
https://doi.org/10.17016/2380-7172.3693 - Price-Setting During the Covid Era
Hugh Montag and Daniel Villar
FEDS Notes (2023)
https://doi.org/10.17016/2380-7172.3298 - Propagation of shocks in an input-output economy: Evidence from disaggregated prices
Shaowen Luo and Daniel Villar
Journal of Monetary Economics (2023)
https://doi.org/10.1016/j.jmoneco.2023.05.004 - Downward nominal wage rigidity in the United States in times of economic distress and low inflation
Bruce Fallick, Daniel Villar, and William Wascher
Labour Economics (2022)
https://doi.org/10.1016/j.labeco.2022.102246 - An evaluation of the Paycheck Protection Program using administrative payroll microdata
David Autor, David Cho, Leland D. Crane, Mita Goldar, Byron Lutz, Joshua Montes, William B. Peterman, David Ratner, Daniel Villar, and Ahu Yildirmaz
Journal of Public Economics (2022)
https://doi.org/10.1016/j.jpubeco.2022.104664 - The $800 Billion Paycheck Protection Program: Where Did the Money Go and Why Did It Go There?
David Autor, David Cho, Leland D. Crane, Mita Goldar, Byron Lutz, Joshua Montes, William B. Peterman, David Ratner, Daniel Villar, and Ahu Yildirmaz
Journal of Economic Perspectives (2022)
https://doi.org/10.1257/jep.36.2.55 - The Price Adjustment Hazard Function: Evidence from High Inflation Periods
Shaowen Luo and Daniel Villar
Journal of Economic Dynamics & Control (2021)
https://doi.org/10.1016/j.jedc.2021.104135 - The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models
Shaowen Luo and Daniel Villar
Journal of Money, Credit and Banking (2021)
https://doi.org/10.1111/jmcb.12700
See also » FRB Working Paper (2017) - Downward Nominal Wage Rigidity in the United States During and After the Great Recession
Bruce Fallick, Daniel Villar, and William L. Wascher
Finance and Economics Discussion Series (2020)
https://doi.org/10.17016/FEDS.2016.001r1 - The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation
Emi Nakamura, Jón Steinsson, Patrick Sun, and Daniel Villar
Quarterly Journal of Economics (2018)
https://doi.org/10.1093/qje/qjy017 - The Skewness of the Price Change Distribution: A New Touchstone for Sticky Price Models
Shaowen Luo and Daniel Villar
Finance and Economics Discussion Series (2017)
https://doi.org/10.17016/FEDS.2017.028 - The Elusive Costs of Inflation: Price Dispersion During the U.S. Great Inflation
Emi Nakamura, Jón Steinsson, Patrick Sun, and Daniel Villar
NBER Working Paper Series (2016)
https://doi.org/10.3386/w22505 - Essays on Sticky Prices and High Inflation Environments
Daniel Villar
Dissertations (Columbia University) (2016)
https://doi.org/10.7916/D8FF3SDK
Last Update:
November 21, 2025