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Found 127534 resources         Showing items 1 to 25 :   Page [1] 2 3 4 .... 5102 -

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   FEDS 2019-054: Pricing Poseidon: Extreme Weather Uncertainty and Firm Return Dynamics
Federal Reserve - Working Paper
16-Jul-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019054

Mathias S. Kruttli, Brigitte Roth Tran, and Sumudu W. Watugala | We investigate the uncertainty dynamics surrounding extreme weather events through the lens of option and stock markets by identifying market re....
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   FEDS 2019-055: Measuring the Liquidity Profile of Mutual Funds
Federal Reserve - Working Paper
18-Jul-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019055

Sirio Aramonte, Chiara Scotti, and Ilknur Zer | We measure the liquidity profile of open-end mutual funds using the sensitivity of their daily returns to aggregate liquidity. We study how this sensitivity changes aro....
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   FEDS 2019-010: Lifecycle Patterns of Saving and Wealth Accumulation(Revised)
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019010

Laura J. Feiveson and John Sabelhaus | Empirical analysis of U.S. income, saving and wealth dynamics is constrained by a lack of high-quality and comprehensive household-level panel data. This paper uses a pseudo-p....
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   FEDS 2018-042: The Money View Versus the Credit View(Revised)
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2018.htm#2018042

Sarah S. Baker, David López-Salido, and Edward Nelson | We evaluate the relative merits of the "money view" and "credit view" as accounts of macroeconomic outcomes. We first lay out core elements of the m....
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   FEDS 2019-056: Regulating Financial Networks Under Uncertainty
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019056

Carlos Ramírez | I study the problem of regulating a network of interdependent financial institutions that is prone to contagion when there is uncertainty regarding its precise structure. I show that such uncertainty reduces the scope for welfare-impr....
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   FEDS 2019-057: From Transactions Data to Economic Statistics: Constructing Real-time, High-frequency, Geographic Measures of Consumer Spending
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019057

Aditya Aladangady, Shifrah Aron-Dine, Wendy Dunn, Laura Feiveson, Paul Lengermann, and Cla....
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   FEDS 2019-058: Transparency and collateral: the design of CCPs' loss allocation rules
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019058

Gaetano Antinolfi, Francesca Carapella, and Francesco Carli | This paper adopts a mechanism design approach to study optimal clearing arrangements for bilateral financial contracts in which an assessment of counterparty risk is crucial for efficiency. T....
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   FEDS 2019-059: Variance Disparity and Market Frictions
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019059

Yang-Ho Park | This paper introduces a new model-free approach to measuring the expectation of market variance using VIX derivatives. This approach shows that VIX derivatives carry different information about future variance than S&P 500 (SPX) options, esp....
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   FEDS 2019-060: A Simple Model of Voluntary Reserve Targets with Tolerance Bands
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019060

Garth Baughman and Francesca Carapella | This note presents a simplifed version of the model of voluntary reserve targets (VRT) developed in Baughman and Carapella (forthcoming), with a Walrasian interbank marke....
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   FEDS 2018-064: Measuring Aggregate Housing Wealth: New Insights from Machine Learning(Revised)
Federal Reserve - Working Paper
2-Aug-2019
https://www.federalreserve.gov/econres/feds/2018.htm#2018064

Joshua H. Gallin, Raven Molloy, Eric Nielsen, Paul Smith, and Kamila Sommer | We construct a new....
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   IFDP 2019-1254: Exchange Rate Dynamics and Monetary Spillovers with Imperfect Financial Markets
Federal Reserve - Working Paper
6-Aug-2019
https://www.federalreserve.gov/econres/ifdp/2019.htm#20191254

Ozge Akinci and Albert Queralto | We use a two-country New Keynesian model with financial frictions and dollar debt in balance sheets to investigate the foreign effects of U.S. monetary policy. Financial amplification works through an endogenous deviation f....
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   FEDS 2019-061: CECL and the Credit Cycle
Federal Reserve - Working Paper
8-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019061

Bert Loudis and Ben Ranish | We find that that the Current Expected Credit Loss (CECL) standard would slightly dampen fluctuations in bank lending over the economic cycle. In particular, if the CECL standard had always been in place, we estimate that lending wou....
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   FEDS 2019-062: Parental Proximity and Earnings After Job Displacements
Federal Reserve - Working Paper
9-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019062

Patrick Coate, Pawel Krolikowski, and Mike Zabek | The earnings of young adults who live in the same neighborhoods as their parents completely recover after a job displacement, unlike the earnings of young adults who live farther away, which permanently decline.....
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   FEDS 2019-063: Exporters of Services: A Look at U.S. Exporters outside of the Manufacturing Sector
Federal Reserve - Working Paper
9-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019063

Maria D. Tito | Using transaction data for the U.S., this paper presents a series of stylized facts on exporters in services industries. We find that most of the basic facts on manufacturing exporters extend to the services sectors with three important differe....
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   FEDS 2019-064: Monetary Policy and Bank Equity Values in a Time of Low and Negative Interest Rates
Federal Reserve - Working Paper
9-Aug-2019
https://www.federalreserve.gov/econres/feds/2019.htm#2019064

Miguel Ampudia and Skander J. Van den Heuvel | Does banks' exposure to interest rate risk change when interest rates are very low or even negative? Using a high-frequency event study methodology and intraday data, we find that the effect of surprise ....
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   Assessing IMF Lending: a Model of Sample Selection
IMF Publications - Working Papers
19-Jul-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=47076

Extending previous work on the determinants of IMF lending in an interconnected world, we introduce a model of sample selection in which both selection and size dimensions of individual IMF arrangements are presented within a unified econometric framework. We allow for unobserved heterogeneity to cr....
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   Internal Trade in Canada: Case for Liberalization
IMF Publications - Working Papers
22-Jul-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=47100

This paper assesses the costs of internal trade barriers and proposes policies to improve internal trade. Estimates suggest that complete liberalization of internal trade in goods can increase GDP per capita by about 4 percent and reallocate employment towards provinces that experience large product....
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   Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle
IMF Publications - Working Papers
24-Jul-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=47121

Why did monetary authorities hold large gold reserves under Bretton Woods (1944–1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves, followi....
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   The Nonlinear Relationship Between Public Debt and Sovereign Credit Ratings
IMF Publications - Working Papers
26-Jul-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=47090

This study investigates the nonlinear relationship between public debt and sovereign credit ratings, using a wide sample of over one hundred advanced, emerging, and developing economies. It finds that: i) higher public debt lowers the probability of being placed in a higher rating category; ii) the ....
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   Price Statistics Compilation in 196 Economies: The Relevance for Policy Analysis
IMF Publications - Working Papers
26-Jul-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=48517

The consumer price index (CPI) is a key economic indicator used to gauge inflation, adjust wages, pensions, and social benefits. The producer prices index (PPI) is used for forecasting and deflating GDP estimates. Both indexes are used by the Fund, policymakers, and researchers for global, regional,....
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   The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector
IMF Publications - Working Papers
30-Jul-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=48518

We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007–17 in 37 countries based on publicly available information. We use aggregate official data to validate this new dataset and estimate the fiscal impact of interventions, including the value....
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   Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence
IMF Publications - Working Papers
2-Aug-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=48530

This paper examines how financial development influences the debt dollarization of nonfinancial firms in a sample of emerging market economies (EMEs). The macroeconomic channels are identified from an optimal portfolio allocation model and assessed empirically using the accounting information of non....
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   What Do Deviations from Covered Interest Parity and Higher FX Hedging Costs Mean for Asia
IMF Publications - Working Papers
2-Aug-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=48531

Asian countries have high demand for U.S. dollars and are sensitive to U.S. dollar funding costs. An important, but often overlooked, component of these costs is the basis spread in the cross-currency swap market that emerges when there are deviations from covered interest parity (CIP). CIP deviatio....
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   Labor Market Slack and the Output Gap: The Case of Korea
IMF Publications - Working Papers
2-Aug-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=48519

Output gap estimates are widely used to inform macroeconomic policy decisions, including in Korea. The main determinant of these estimates is the measure of labor market slack. The traditional measure of unemployment in Korea yields an incomplete estimate of labor market slack, given that many worke....
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   Public Sector Balance Sheet Strength and the Macro Economy
IMF Publications - Working Papers
6-Aug-2019
http://www.imf.org/external/pubs/cat/longres.aspx?sk=48529

This paper introduces concepts of public sector balance sheet (PSBS) strength, taking into account different aspects of what governments own in addition to what they owe. It develops measures of PSBS strength and investigates their macroeconomic implications. Empirical estimations show that in their....
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Found 127534 resources         Showing items 1 to 25 :   Page [1] 2 3 4 .... 5102 -
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