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John Ammer

Senior Economic Project Manager

Program Direction Section

International Finance

202-452-2349
john.ammer@frb.gov
Education
  • Ph.D., Economics, Princeton University, 1992
  • B.A., Economics and Mathematics (magna cum laude), Yale University, 1984
  • Current Research Topics

  • Financial Stability and Emerging Markets
  • Sovereign and Corporate Credit Risk
    • Senior Economic Project Manager, International Finance

      Board of Governors of the Federal Reserve System

    • 2015 - present
    • Project Manager, International Finance

      Board of Governors of the Federal Reserve System

    • 2014 - 2015
    • Chief, Global Capital Markets

      Board of Governors of the Federal Reserve System

    • 2011 - 2014
    • Economist and Senior Economist

      Board of Governors of the Federal Reserve System

    • 1991 - 2011
    • Research Assistant

      Board of Governors of the Federal Reserve System

    • 1984 - 1986
  • Ammer, John, Michiel De Pooter, Christopher Erceg, and Steven Kamin (2016). "International Spillovers of Monetary Policy," IFDP Notes. Washington: Board of Governors of the Federal Reserve System, February 8.
  • Ammer, John, Sara B. Holland, David C. Smith, and Francis E. Warnock (2012). "U.S. International Equity Investment," Journal of Accounting Research, vol. 50, no. 5, pp. 1109-1139.
  • Ammer, John, Sara B. Holland, David C. Smith, and Francis E. Warnock (2012). "U.S. International Equity Investment," International Finance Discussion Papers 1044. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, Sara B. Holland, David C. Smith, and Francis E. Warnock (2012). "U.S. International Equity Investment," NBER Working Papers 17839. National Bureau of Economic Research, Inc.
  • Ammer, John, Fang Cai, and Chiara Scotti (2011). "Has International Financial Co-Movement Changed? Emerging Markets in the 2007-2009 Financial Crisis," in Batten, Jonathan, Peter G. Szilagyi eds., The Impact of the Global Financial Crisis on Emerging Financial Markets. Bingley: United Kingdom: Emerald Group Publishing Limited, pp. 231-253.
  • Cai, Fang, and John Ammer (2011). "Sovereign CDS and Bond Pricing Dynamics in Emerging Markets: Does the Cheapest-to-Deliver Option Matter?" Journal of International Financial Markets, Institutions, and Money, vol. 21, no. 3, pp. 369-387.
  • Ammer, John, Clara Vega, and Jon Wongswan (2010). "International Transmission of U.S. Monetary Policy Shocks: Evidence from Stock Prices," Journal of Money, Credit and Banking, vol. 42, no. 1, pp. 179-198.
  • Ammer, John, Fang Cai, and Chiara Scotti (2010). "Has International Financial Co-Movement Changed? Emerging Markets in the 2007-2009 Financial Crisis," International Finance Discussion Papers 1006. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Fang Cai (2008). "Sovereign CDS and Bond Pricing Dynamics in Emerging Markets: Does the Cheapest-to-Deliver Option Matter?" Working Paper 912. Wharton School University of Pennsylvania.
  • Ammer, John, Clara Vega, and Jon Wongswan (2008). "Do Fundamentals Explain the International Impact of U.S. Interest Rates? Evidence at the Firm Level," International Finance Discussion Papers 952. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, Sara B. Holland, David C. Smith, and Francis E. Warnock (2008). "Why do U.S. Cross-Listings Matter?" International Finance Discussion Papers 930. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Fang Cai (2007). "Sovereign CDS and Bond Pricing Dynamics in Emerging Markets: Does the Cheapest-to-Deliver Option Matter?" International Finance Discussion Papers 912. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Jon Wongswan (2007). "Cash Flows and Discount Rates, Industry and Country Effects and Co-Movement in Stock Returns," Financial Review, vol. 42, no. 2, pp. 211-226.
  • Ammer, John, Sara B. Holland, David C. Smith, and Francis E. Warnock (2006). "Look at Me Now: What Attracts U.S. Shareholders?" NBER Working Papers 12500. National Bureau of Economic Research, Inc.
  • Ahearne, Alan G., John Ammer, Brian M. Doyle, Linda S. Kole, and Robert F. Martin (2005). "Monetary Policy and House Prices: A Cross-Country Study," International Finance Discussion Papers 841. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, Nathanael Clinton, and Gregory P. Nini (2005). "Accounting Standards and Information: Inferences from Cross-Listed Financial Firms," International Finance Discussion Papers 843. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Jon Wongswan (2004). "Cash Flows and Discount Rates, Industry and Country Effects, and Co-Movement in Stock Returns," International Finance Discussion Papers 818. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Nathanael Clinton (2004). "Good News is no News? the Impact of Credit Rating Changes on the Pricing of Asset-Backed Securities," International Finance Discussion Papers 809. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, Sara B. Holland, David C. Smith, and Francis E. Warnock (2004). "Look at Me Now: The Role of Cross-Listing in Attracting U.S. Investors," International Finance Discussion Papers 815. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Frank Packer (2000). "How Consistent are Credit Ratings? A Geographic and Sectoral Analysis of Default Risk," International Finance Discussion Papers 668. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Allan D. Brunner (1997). "Are Banks Market Timers Or Market Makers? Explaining Foreign Exchange Trading Profits," Journal of International Financial Markets, Institutions and Money, vol. 7, no. 1, pp. 43-60.
  • Ammer, John (1996). "Macroeconomic State Variables as Determinants of Asset Price Covariances," International Finance Discussion Papers 553. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Jianping Mei (1996). "Measuring International Economic Linkages with Stock Market Data," Journal of Finance, vol. 51, no. 5, pp. 1743-1763.
  • Ammer, John, and Michael S. Gibson (1996). "Regulation and the Cost of Capital in Japan: A Case Study," International Finance Discussion Papers 556. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Allan D. Brunner (1995). "When is Monetary Policy Effective?" International Finance Discussion Papers 520. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Jianping Mei (1995). "Strategic Returns to International Diversification: An Application to the Equity Markets of Europe, Japan and North America," European Financial Management, vol. 1, no. 1, pp. 49-59.
  • Ammer, John, and Jianping Mei (1995). "Strategic Returns to International Diversification: An Application to the Equity Markets of Europe, Japan, and North America," International Finance Discussion Papers 502. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Richard T. Freeman (1995). "Inflation Targeting in the 1990s: The Experiences of New Zealand, Canada, and the United Kingdom," Journal of economics and business, vol. 47, no. 2, pp. 165-192.
  • Ammer, John (1994). "Inflation, Inflation Risk, and Stock Returns," International Finance Discussion Papers 464. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Allan D. Brunner (1994). "Are Banks Market Timers Or Market Makers? Explaining Foreign Exchange Trading Profits," International Finance Discussion Papers 484. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Richard T. Freeman (1994). "Inflation Targeting in the 1990s: The Experiences of New Zealand, Canada, and the United Kingdom," International Finance Discussion Papers 473. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John (1993). "Macroeconomic Risk and Asset Pricing: Estimating the Apt with Observable Factors," International Finance Discussion Papers 448. Board of Governors of the Federal Reserve System (U.S.).
  • Ammer, John, and Jianping Mei (1993). "Measuring International Economic Linkages with Stock Market Data," International Finance Discussion Papers 449. Board of Governors of the Federal Reserve System (U.S.).
  • Campbell, John Y., and John Ammer (1993). "What Moves the Stock and Bond Markets? A Variance Decomposition for Long-Term Asset Returns," Journal of Finance, vol. 48, no. 1, pp. 3-37.
  • Ammer, John (1992). "Noise Trader Risk, Management Expenses, Takeovers and Liquidations, and the Closed End Fund Discount Puzzle: New Evidence from the United Kingdom," Ph.D dissertation, Princeton University.
  • Campbell, John Y., and John Ammer (1991). "What Moves the Stock and Bond Markets? A Variance Decomposition for Long-Term Asset Returns," NBER Working Papers 3760. National Bureau of Economic Research, Inc.

Awards

  • 1993

    Journal of Finance

    Smith Breeden Distinguished Paper

  • 1987

    National Science Foundation

    Graduate Fellow

Referee

  • American Economic Review
  • Berkeley Electronic Journal of Macroeconomics
  • Contemporary Economic Policy
  • Economic Inquiry
  • Economic Journal
  • Economic Systems
  • Economics Letters
  • European Financial Management
  • European Journal of Finance
  • Financial Review
  • Global Finance Journal
  • International Finance
  • International Review of Economics and Finance
  • Journal of Banking and Finance
  • Journal of Business
  • Journal of Business and Economic Statistics
  • Journal of Economics and Business
  • Journal of Finance
  • Journal of Financial Economics
  • Journal of Financial Intermediation
  • Journal of Financial Research
  • Journal of Financial Services Research
  • Journal of Financial Stability
  • Journal of International Economics
  • Journal of International Financial Markets, Institutions, and Money
  • Journal of International Money and Finance
  • Journal of Macroeconomics
  • Journal of Money, Credit, and Banking
  • Journal of the Japanese and International Economies
  • Pacific Basin Finance Journal
  • Quarterly Review of Economics and Finance
  • Research in International Business and Finance
  • Review of Economics and Statistics
  • Review of Financial Studies
  • Southeastern European Journal of Economics
  • Southern Economic Journal
  • SpringerPlus

Professional Affiliation

  • American Finance Association, 1987-present
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Last update: February 22, 2016