Institution
Federal Reserve System
Other•Washington D.C., District of Columbia, United States•
About: Federal Reserve System is a other organization based out in Washington D.C., District of Columbia, United States. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 2373 authors who have published 10301 publications receiving 511979 citations.
Topics: Monetary policy, Inflation, Interest rate, Market liquidity, Debt
Papers published on a yearly basis
Papers
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TL;DR: In this article, the importance of the zero lower bound on nominal interest rates for the interest-rate channel of monetary policy was assessed and several interest rate setting policy rules with e.g.
Abstract: This paper assesses the importance of the zero lower bound on nominal interest rates for the interest-rate channel of monetary policy. We simulate several interest-rate setting policy rules with ei...
211 citations
TL;DR: The FRB/US model as mentioned in this paper is a large-scale quarterly econometric model of the U.S. economy, developed to replace the MPS model, and most behavioral equations are based on specifications of optimizing behavior containing explicit expectations of firms, households, and financial markets.
Abstract: FRB/US is a large-scale quarterly econometric model of the U.S. economy, developed to replace the MPS model. Most behavioral equations are based on specifications of optimizing behavior containing explicit expectations of firms, households, and financial markets. Although expectations are explicit, the empirical fits of the structural descriptions of macroeconomic behavior are comparable to those of reduced-form time series models. In most instances, tests do not reject overidentifying restrictions of rational expectations or the hypothesis of serially independent residuals. As modeled, private sector expectations of policy constitute a major transmission channel of monetary policy.
211 citations
TL;DR: In this article, the authors study long-run precautionary motives for life-cycle wealth accumulation and portfolios allowing for uncertain returns, incomes, and lifespan, and separate the effects of various factors on mean and median asset holdings, including education, risk aversion, household heterogeneity, bequests, impatience, variance and serial correlation of income shocks.
210 citations
TL;DR: This article found that employed individuals who were affected by the increases in the federal minimum wage in 1979 and 1980 were about 3 percent less likely to be employed a year later, even after accounting for the fact that workers employed at the minimum wage may differ from their peers in unobserved ways.
Abstract: Using panel data on individuals from the National Longitudinal Survey of Youth, we find that employed individuals who were affected by the increases in the federal minimum wage in 1979 and 1980 were about 3 percent less likely to be employed a year later, even after accounting for the fact that workers employed at the minimum wage may differ from their peers in unobserved ways.
210 citations
TL;DR: In this article, the authors apply an event-study methodology on over 10,000 Morningstar star rating changes and find that Morningstar has subsantial independent influence on the investment allocation decisions of retail mutual fund investors.
Abstract: We apply an event-study methodology on over 10,000 Morningstar star rating changes and find that Morningstar has subsantial independent influence on the investment allocation decisions of retail mutual fund investors. It is the discrete change in the star rating itself and not the change in the underlying performance measures that drives frow. We document econnomically and statistically significant positive abnormal flow following rating upgrades, and negative abnormal flow following rating downgrades. In contrast to the cross-sectional flow performance literature, we find evidence of investor punishment of performance declines, some of which is evident immediately in the month of the rating change.
209 citations
Authors
Showing all 2412 results
| Name | H-index | Papers | Citations |
|---|---|---|---|
| Ross Levine | 122 | 398 | 108067 |
| Francis X. Diebold | 110 | 368 | 74723 |
| Kenneth Rogoff | 107 | 390 | 75971 |
| Allen N. Berger | 106 | 382 | 65596 |
| Frederic S. Mishkin | 100 | 372 | 34898 |
| Thomas J. Sargent | 96 | 370 | 39224 |
| Ben S. Bernanke | 96 | 446 | 76378 |
| Stijn Claessens | 96 | 462 | 42743 |
| Andrew K. Rose | 88 | 374 | 42605 |
| Martin Eichenbaum | 87 | 234 | 37611 |
| Lawrence J. Christiano | 85 | 253 | 37734 |
| Jie Yang | 78 | 532 | 20004 |
| James P. Smith | 78 | 372 | 23013 |
| Glenn D. Rudebusch | 73 | 226 | 22035 |
| Edward C. Prescott | 72 | 235 | 55508 |