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Egon Zakrajsek
Researcher at Federal Reserve System
Publications - 70
Citations - 6288
Egon Zakrajsek is an academic researcher from Federal Reserve System. The author has contributed to research in topics: Bond & Monetary policy. The author has an hindex of 29, co-authored 69 publications receiving 5422 citations. Previous affiliations of Egon Zakrajsek include Center for Economic and Policy Research & Bank for International Settlements.
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Journal ArticleDOI
Credit Spreads and Business Cycle Fluctuations
Simon Gilchrist,Egon Zakrajsek +1 more
TL;DR: In this paper, the authors examined the relationship between credit spreads and economic activity, by constructing a credit spread index based on an extensive data set of prices of outstanding corporate bonds trading in the secondary market and found that the predictive content of credit spreads for economic activity is due primarily to movements in the excess bond premium.
ReportDOI
Uncertainty, Financial Frictions, and Investment Dynamics
TL;DR: In this paper, the authors analyzed the economic significance of the traditional "wait-and-see" effect of uncertainty shocks and pointed to financial distortions as the main mechanism through which fluctuations in uncertainty affect macroeconomic outcomes.
Journal ArticleDOI
Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets
TL;DR: In this paper, a broad array of credit spreads constructed directly from the secondary bond prices on outstanding senior unsecured debt issued by a large panel of nonfinancial firms is examined.
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The Macroeconomic Impact of Financial and Uncertainty Shocks
TL;DR: This article used the penalty function approach within the SVAR framework to examine the interaction between financial conditions and economic uncertainty and trace out the impact of these two types of shocks on the economy.
Journal ArticleDOI
Inflation Dynamics During the Financial Crisis
TL;DR: The authors analyzed the effect of changes in firms' financial conditions on their price-setting behavior during the "Great Recession" that surrounded the financial crisis, finding that firms with weak balance sheets increased prices significantly relative to industry averages, whereas firms with strong balance sheets lowered prices.