Search Results
Report
Heterogeneous Agent Trade
Waugh, Michael E.
(2023-10-18)
This paper studies the implications of household heterogeneity for trade. I develop a model where household heterogeneity is induced via incomplete markets and results in heterogeneous price elasticities. Conditional on exposure to trade, heterogeneous price elasticities imply that different households value price changes differently, and thus rich and poor households experience different gains from trade. I calibrate the model to match bilateral trade flows and micro-facts about household-level expenditure patterns and elasticities. I find gains from trade that are pro-poor and that the ...
Staff Report
, Paper 653
Working Paper
The asymmetric effects of deflation on consumption spending: evidence from the Great Depression
Davis, J. Scott
(2015-02-01)
Does expected deflation lead to a fall in consumption spending? Using data for U.S. grocery store sales and department store sales from 1919 to 1939, this paper shows that expected price changes have asymmetric effects on consumption spending. Department store sales (durable consumption) react negatively to the expectation of falling prices, but grocery store sales (non-durable consumption) do not react to expected price changes.
Globalization Institute Working Papers
, Paper 226
Journal Article
What Explains Lifetime Earnings Differences Across Individuals?
Mustre-del-Rio, Jose; Pollard, Emily
(2019-01)
Expected lifetime earnings are a key factor in many individual decisions, such as whether or not to go to college and what kind of occupation to pursue. However, lifetime earnings differ widely across individuals, and uncovering the factors that explain these differences can be challenging. Some characteristics, such as race and sex, are observable. But other intangible characteristics, such as work performance, are more difficult to quantify. To what degree observable characteristics explain lifetime earnings is an empirical question. {{p}} Jos Mustre-del-Ro and Emily Pollard use a unique ...
Economic Review
, Issue Q I
, Pages 35-56
Report
Student loan debt and economic outcomes
Cooper, Daniel H.; Wang, J. Christina
(2014-10-01)
This policy brief examines the impact of student loan debt on individuals' homeownership status and wealth accumulation, employing a rich set of financial and demographic variables that are not available in many of the existing studies that use credit bureau data. It is important to understand whether and, if so, how student loan debt affects households' economic decisions because student loan debt has now surpassed credit card debt to become the second largest amount of household debt outstanding after mortgage debt.
Current Policy Perspectives
, Paper 14-7
Working Paper
Minimum Wages, Efficiency and Welfare
Berger, David W.; Herkenhoff, Kyle F.; Mongey, Simon
(2022-04-06)
It has long been argued that a minimum wage could alleviate efficiency losses from monopsony power. In a general equilibrium framework that quantitatively replicates results from recent empirical studies, we find higher minimum wages can improve welfare, but most welfare gains stem from redistribution rather than efficiency. Our model features oligopsonistic labor markets with heterogeneous workers and firms and yields analytical expressions that characterize the mechanisms by which minimum wages can improve efficiency, and how these deteriorate at higher minimum wages. We provide a method to ...
Opportunity and Inclusive Growth Institute Working Papers
, Paper 058
Working Paper
The Global (Mis)Allocation of Capital
Bertaut, Carol C.; Curcuru, Stephanie E.; Faia, Ester; Gourinchas, Pierre-Olivier
(2024-11-25)
The allocative efficiency of capital flows is one of the oldest and most contentious questions. We answer it by matching cross-border securities holdings reported in the US external statistics from 1995 to 2022 with the corresponding firm-level measures of allocative efficiency. We find that US investors tilt their international equity investment toward firms with high MRPK and markups, thereby fostering their potential for growth. Foreign investors tilt their holdings toward US firms with high productivity and intangible capital. A horse race shows that productivity is the best predictor of ...
International Finance Discussion Papers
, Paper 1399
FILTER BY year
FILTER BY Bank
Board of Governors of the Federal Reserve System (U.S.) 25 items
Federal Reserve Bank of Minneapolis 19 items
Federal Reserve Bank of Kansas City 10 items
Federal Reserve Bank of New York 7 items
Federal Reserve Bank of St. Louis 6 items
Federal Reserve Bank of Dallas 4 items
Federal Reserve Bank of San Francisco 4 items
Federal Reserve Bank of Atlanta 2 items
Federal Reserve Bank of Cleveland 2 items
Federal Reserve Bank of Boston 1 items
Federal Reserve Bank of Chicago 1 items
Federal Reserve Bank of Philadelphia 1 items
Federal Reserve Bank of Richmond 1 items
show more (8)
show less
FILTER BY Series
Finance and Economics Discussion Series 18 items
Staff Report 11 items
Working Papers 10 items
Economic Bulletin 6 items
International Finance Discussion Papers 6 items
Opportunity and Inclusive Growth Institute Working Papers 5 items
Working Paper Series 5 items
Speech 4 items
Economic Review 2 items
FRB Atlanta Working Paper 2 items
Globalization Institute Working Papers 2 items
Review 2 items
Working Papers (Old Series) 2 items
Current Policy Perspectives 1 items
Economic Policy Review 1 items
Federal Reserve Bulletin 1 items
Liberty Street Economics 1 items
Proceedings - Economic Policy Symposium - Jackson Hole 1 items
Research Working Paper 1 items
Staff Reports 1 items
Working Paper 1 items
show more (16)
show less
FILTER BY Content Type
Working Paper 52 items
Report 13 items
Journal Article 12 items
Speech 4 items
Conference Paper 1 items
Discussion Paper 1 items
show more (1)
show less
FILTER BY Author
Jacobson, Margaret M. 13 items
Mongey, Simon 4 items
Heathcote, Jonathan 3 items
Karabarbounis, Loukas 3 items
Pollard, Emily 3 items
Spiegel, Mark M. 3 items
Storesletten, Kjetil 3 items
Violante, Giovanni L. 3 items
Waugh, Michael E. 3 items
Amaral, Pedro S. 2 items
Berger, David W. 2 items
Civelli, Andrea 2 items
Deck, Cary 2 items
Decker, Ryan A. 2 items
Dudley, William 2 items
Felix, Alison 2 items
Fernald, John G. 2 items
Fitzgerald, Doireann 2 items
Garriga, Carlos 2 items
Haller, Stephanie 2 items
Herkenhoff, Kyle F. 2 items
Higgins, Matthew 2 items
Hsu, Eric 2 items
Inokuma, Hiroshi 2 items
Kurtzman, Robert J. 2 items
Lutz, Byron F. 2 items
MacGee, James 2 items
Martin, Robert F. 2 items
Mustre-del-Rio, Jose 2 items
Nekarda, Christopher J. 2 items
Ravikumar, B. 2 items
Sanchez, Juan M. 2 items
Tang, Yang 2 items
Tutino, Antonella 2 items
Vandenbroucke, Guillaume 2 items
Wang, Ping 2 items
Wilson, Beth Anne 2 items
Yedid-Levi, Yaniv 2 items
Aguiar, Mark 1 items
Amador, Manuel 1 items
Arellano, Cristina 1 items
Baley, Isaac 1 items
Benhabib, Jess 1 items
Bertaut, Carol C. 1 items
Blanco, Andres 1 items
Borella, Margherita 1 items
Brandsaas, Eirik E. 1 items
Brown, Jason 1 items
Cakir Melek, Nida 1 items
Chodorow-Reich, Gabriel 1 items
Cook, Thomas R. 1 items
Cooper, Daniel H. 1 items
Corbae, Dean 1 items
Curcuru, Stephanie E. 1 items
Córdoba, Juan C. 1 items
Davig, Troy A. 1 items
Davis, J. Scott 1 items
De Nardi, Mariacristina 1 items
De Pooter, Michiel 1 items
Devlin-Foltz, Sebastian 1 items
Ding, Lei 1 items
Faia, Ester 1 items
Foerster, Andrew T. 1 items
Fourakis, Stelios 1 items
Glover, Andrew 1 items
Gortz, Christoph 1 items
Gottardi, Piero 1 items
Gourinchas, Pierre-Olivier 1 items
Gubbay, Natalie 1 items
Gunn, Christopher 1 items
Hawkins, Brandon 1 items
Hedlund, Aaron 1 items
Huo, Zhen 1 items
Imrohoroglu, Ayse 1 items
Isojärvi, Anni T. 1 items
Jahan-Parvar, Mohammad R. 1 items
Justiniano, Alejandro 1 items
Kajii, Atsushi 1 items
Kansas City, Federal Reserve Bank 1 items
Kehoe, Patrick J. 1 items
Kekre, Rohan 1 items
Kitsul, Yuriy 1 items
Kondo, Illenin O. 1 items
Kong, Yu-Chien 1 items
Kvaerner, Jens 1 items
LeBlanc, Justin D. 1 items
Leung, Charles Ka Yui 1 items
Lewis, Daniel J. 1 items
Li, Haoran 1 items
Li, Zhimin 1 items
Lopez, Pierlauro 1 items
Lubik, Thomas A. 1 items
Matschke, Johannes 1 items
McAndrews, James J. 1 items
Midrigan, Virgiliu 1 items
Munyan, Teyanna 1 items
Musalem, Alberto G. 1 items
Nakajima, Tomoyuki 1 items
Ng, Joe Cho Yiu 1 items
Nie, Jun 1 items
Palmer, Andrew 1 items
Pastorino, Elena 1 items
Primiceri, Giorgio E. 1 items
Pruitt, Seth 1 items
Raddock, Richard D. 1 items
Rahman, Jamil 1 items
Rebecca, DeSimone 1 items
Rinz, Kevin 1 items
Rios-Rull, Jose-Victor 1 items
Sabelhaus, John Edward 1 items
Santacreu, Ana Maria 1 items
Shampine, Samantha 1 items
Shen, Leslie Sheng 1 items
Smith, Andrew Lee 1 items
Tambalotti, Andrea 1 items
Tang, Edward 1 items
Voorheis, John 1 items
Wang, J. Christina 1 items
Wozniak, Abigail 1 items
Young, Henry L. 1 items
Zhang, Calvin 1 items
Zhao, Kai 1 items
de Soyres, Francois 1 items
show more (118)
show less
FILTER BY Jel Classification
E30 18 items
R21 14 items
C68 13 items
E21 7 items
E24 6 items
H20 6 items
D30 5 items
E32 5 items
J24 5 items
E62 4 items
F10 4 items
O41 4 items
D10 3 items
D11 3 items
E44 3 items
E52 3 items
E58 3 items
F44 3 items
J22 3 items
J31 3 items
C53 2 items
C80 2 items
C82 2 items
C83 2 items
C91 2 items
D12 2 items
D20 2 items
D52 2 items
D8 2 items
D90 2 items
E13 2 items
E27 2 items
E50 2 items
E60 2 items
F17 2 items
F30 2 items
F40 2 items
F60 2 items
G21 2 items
H40 2 items
I26 2 items
J01 2 items
J11 2 items
J20 2 items
J42 2 items
J60 2 items
L10 2 items
O33 2 items
O40 2 items
R23 2 items
R31 2 items
C13 1 items
C32 1 items
C40 1 items
C58 1 items
D14 1 items
D31 1 items
D60 1 items
D80 1 items
E0 1 items
E01 1 items
E2 1 items
E43 1 items
E51 1 items
E65 1 items
F00 1 items
F01 1 items
F32 1 items
F34 1 items
F41 1 items
F61 1 items
F62 1 items
G10 1 items
G11 1 items
G12 1 items
G18 1 items
G23 1 items
G28 1 items
H21 1 items
H30 1 items
H31 1 items
H51 1 items
I22 1 items
I31 1 items
J15 1 items
J16 1 items
J21 1 items
J30 1 items
J63 1 items
J64 1 items
J70 1 items
L11 1 items
L13 1 items
N10 1 items
O47 1 items
O57 1 items
R0 1 items
R11 1 items
R13 1 items
R20 1 items
show more (96)
show less