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| Staff Reports/Research Papers |
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| Technical working papers intended for publication in leading finance and economics journals. The Research Papers series predated Staff Reports and was discontinued in 1998. Both series are available only online. |
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2010 Staff Reports |
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| Knowledge in Cities Todd Gabe, Jaison R. Abel, Adrienne Ross, and Kevin Stolarick September Number 470 |
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| Caught between Scylla and Charybdis? Regulating Bank Leverage When There Is Rent Seeking and Risk Shifting Viral V. Acharya, Hamid Mehran, and Anjan Thakor September Number 469 |
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| TBA Trading and Liquidity in the Agency MBS Market James Vickery and Joshua Wright August Number 468 |
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| Tax Buyouts Marco Del Negro, Fabrizio Perri, and Fabiano Schivardi August Number 467 |
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| A Private Lender Cooperative Model for Residential Mortgage Finance Toni Dechario, Patricia Mosser, Joseph Tracy, James Vickery, and Joshua Wright August Number 466 |
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| Jump-Robust Volatility Estimation using Nearest Neighbor Truncation Torben G. Andersen, Dobrislav Dobrev, and Ernst Schaumburg August Number 465 |
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| Funding Liquidity Risk and the Cross-Section of Stock Returns Tobias Adrian and Erkko Etula July Number 464 |
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| The Central-Bank Balance Sheet as an Instrument of Monetary Policy Vasco Cúrdia and Michael Woodford July Number 463 |
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| The Impact of Competition on Technology Adoption: An Apples-to-PCs Analysis Adam Copeland and Adam Hale Shapiro July Number 462 |
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| Financial Amplification of Foreign Exchange Risk Premia Tobias Adrian, Erkko Etula, and Jan J. J. Groen July Number 461 Revised August 2010 |
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| The Information Value of the Stress Test and Bank Opacity Stavros Peristiani, Donald P. Morgan, and Vanessa Savino July Number 460 |
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| Do Underwriters Matter? The Impact of the Near Loss of an Equity Underwriter Anna Kovner July Number 459 |
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| Shadow Banking Zoltan Pozsar, Tobias Adrian, Adam Ashcraft, and Hayley Boesky July Number 458 |
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| Resolving Troubled Systemically Important Cross-Border Financial Institutions: Is a New Corporate Organizational Form Required? Christine Cumming and Robert A. Eisenbeis July Number 457 |
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| Executive Compensation and
Risk Taking Patrick Bolton, Hamid Mehran, and Joel Shapiro June Number 456 |
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| State-Dependent Pricing under Infrequent Information: A Unified Framework Marco Bonomo, Carlos Carvalho, and René Garcia June Number 455 |
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| Can Subjective Expectations
Data Be Used in Choice Models? Evidence on Cognitive Biases Basit Zafar June Number 454 |
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| Bayesian Social Learning, Conformity, and Stubbornness: Evidence from the AP Top 25 Daniel F. Stone and Basit Zafar June Number 453 |
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| Bootstrapping Density-Weighted Average Derivatives Matias D. Cattaneo, Richard K. Crump, and Michael Jansson May Number 452 |
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| Subsidizing Job Creation in the Great Recession Sagiri Kitao, Ayşegül Şahin, and Joseph Song May Number 451 |
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| Is Economics Coursework, or Majoring in Economics, Associated with Different Civic Behaviors? Sam Allgood, William Bosshardt, Wilbert van der Klaauw, and Michael Watts May Number 450 |
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| MBS Ratings
and the Mortgage Credit Boom Adam Ashcraft, Paul Goldsmith-Pinkham, and James Vickery May Number 449 |
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| Design of Contingent Capital with a Stock Price Trigger for Mandatory Conversion Suresh Sundaresan and Zhenyu Wang May Number 448 Revised June 2010 |
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| Quantifying the Benefits
of a Liquidity-Saving Mechanism Enghin Atalay, Antoine Martin, and James McAndrews May Number 447 |
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| Global Banks
and International Shock Transmission: Evidence from the Crisis Nicola Cetorelli and Linda S. Goldberg May Number 446 |
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| Deferred
Compensation, Risk, and Company Value: Investor Reactions to CEO Incentives Chenyang Wei and David Yermack April Number 445 |
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| Repo Runs Antoine Martin, David Skeie, and Ernst-Ludwig von Thadden April Number 444 Revised May 2010 |
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| The Effect of Question Wording on Reported Expectations and Perceptions of Inflation Wändi Bruine de Bruin, Wilbert van der Klaauw, Julie S. Downs, Baruch Fischhoff, Giorgio Topa, and Olivier Armantier April Number 443 |
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| Short-Run Fiscal
Policy: Welfare, Redistribution, and Aggregate Effects in the Short and Long Run Sagiri Kitao April Number 442 |
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| Large-Scale Asset
Purchases by the Federal Reserve: Did They Work? Joseph Gagnon, Matthew Raskin, Julie Remache, and Brian Sack March Number 441 |
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| Productivity and the Density of Human Capital Jaison R. Abel, Ishita Dey, and Todd M. Gabe March Number 440 |
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| The Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09 Tobias Adrian and Hyun Song Shin March Number 439 Revised April 2010 |
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| Liquidity-Saving Mechanisms in Collateral-Based RTGS Payment Systems Marius Jurgilas and Antoine Martin March Number 438 |
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| Stressed, Not Frozen: The Federal Funds Market in the Financial Crisis Gara Afonso, Anna Kovner, and Antoinette Schoar March Number 437 Revised March 2010 |
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| Social Security, Benefit Claiming, and Labor Force Participation: A Quantitative General Equilibrium Approach
Selahattin İmrohoroğlu and Sagiri Kitao March Number 436 |
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| Labor-Dependent
Capital Income Taxation That Encourages Work and Saving Sagiri Kitao February Number 435 |
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| Correlated
Disturbances and U.S. Business Cycles Vasco Cúrdia and Ricardo Reis February Number 434 |
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| The Paradox
of Toil Gauti Eggertsson February Number 433 Revised March 2010 |
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| Subprime Mortgage Lending in New York City: Prevalence and Performance Ebiere Okah and James Orr February Number 432 |
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| Financial Amplification Mechanisms and the Federal Reserve’s Supply of Liquidity during the Crisis Asani Sarkar and Jeffrey Shrader February Number 431 Revised March 2010 |
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| Loss Aversion, Asymmetric Market Comovements, and the Home Bias Kevin Amonlirdviman and Carlos Carvalho February Number 430 |
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| Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs Linda S. Goldberg, Craig Kennedy, and Jason Miu January Number 429 Revised February 2010 |
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| Macro Risk Premium
and Intermediary Balance Sheet Quantities Tobias Adrian, Emanuel Moench, and Hyun Song Shin January Number 428 |
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| Performance Maximization of Actively Managed Funds Paolo Guasoni, Gur Huberman, and Zhenyu Wang January Number 427 |
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| Repo Market Effects of the Term Securities Lending Facility Michael J. Fleming, Warren B. Hrung, and Frank M. Keane January Number 426 |
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| The Measurement of Rent Inflation Jonathan McCarthy and Richard W. Peach January Number 425 |
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| Policy Perspectives on OTC Derivatives Market Infrastructure Darrell Duffie, Ada Li, and Theo Lubke January Number 424 Revised March 2010 |
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| The Federal Reserve’s Commercial Paper Funding Facility Tobias Adrian, Karin Kimbrough, and Dina Marchioni January Number 423 Revised June 2010 |
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| Financial Intermediation, Asset Prices, and Macroeconomic Dynamics Tobias Adrian, Emanuel Moench, and Hyun Song Shin January Number 422 Revised July 2010 |
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| Monetary Cycles, Financial Cycles, and the Business Cycle Tobias Adrian, Arturo Estrella, and Hyun Song Shin January Number 421 |
