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 paper, the authors focus on downgrades as stress events that drive the selling of corporate bonds and show that the illiquidity of stressed bonds has increased after the Volcker Rule.
149 citations
TL;DR: In this paper, the authors construct a model where capital competes with fiat money as a medium of exchange, and establish conditions on fundamentals under which fiat money can be both valued and socially beneficial.
149 citations
TL;DR: This paper investigated the plausibility of an inverse relationship between inflation and real returns and found that inflation and nominal equity returns are negatively correlated or uncorrelated for all low-to moderate inflation economies examined.
149 citations
TL;DR: In this paper, monetary policy is redundant if wage setters exploit the incomplete current information embodied in today's nominal interest rate, and the monetary authorities can save wage setter the costs of indexing to the interest rate.
Abstract: Optimal monetary policy rules are derived in a rational expectations cum contracting framework. Monetary policy is redundant if wage setters exploit the incomplete current information embodied in today's nominal interest rate. However, the monetary authorities can save wage setters the costs of “indexing†to the interest rate. A contemporaneous money supply feedback rule is as effective as wage indexation. A lagged rule, relevant under a regime of money supply targeting, is also as effective if investors use the interest rate. Both rules have the same implications for the real interest rate as Poole's combination policy. However, the two rules have strikingly different implications for the nominal interest rate.
149 citations
Posted Content•
TL;DR: In this article, Pykhtin et al. propose a framework for modeling credit exposure and pricing counter-party risk, which is based on the credit value adjustment (CVA) method.
Abstract: Michael Pykhtin and Steven Zhu offer a blueprint for modelling credit exposure and pricing counter-party risk. They focus on two main issues: modelling credit exposure and pricing counter-party risk. In the part devoted to credit exposure, we will define credit exposure at contract and counter-party levels, introduce netting and margin agreements as risk management tools for reducing counter-party-level exposure and present a framework for modelling credit exposure. In the part devoted to pricing, we will define credit value adjustment (CVA) as the price of counter-party credit risk and discuss approaches to its calculation.
149 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 |