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: The authors analyzes the restrictions necessary to ensure that the interest rate policy rule used by the central bank does not introduce local real real indeterminacy into the economy, and conducts the analysis in a Calvo-style sticky price model.
134 citations
TL;DR: In this paper, the authors show that a relatively small number of trials in the inner step can yield accurate estimates, and they analyze how a fixed computational budget may be allocated to the inner and the outer step to minimize the mean square error of the resultant estimator.
Abstract: Risk measurement for derivative portfolios almost invariably calls for nested simulation. In the outer step, one draws realizations of all risk factors up to the horizon, and in the inner step, one reprices each instrument in the portfolio at the horizon conditional on the drawn risk factors. Practitioners may perceive the computational burden of such nested schemes to be unacceptable and adopt a variety of second-best pricing techniques to avoid the inner simulation. In this paper, we question whether such short cuts are necessary. We show that a relatively small number of trials in the inner step can yield accurate estimates, and we analyze how a fixed computational budget may be allocated to the inner and the outer step to minimize the mean square error of the resultant estimator. Finally, we introduce a jackknife procedure for bias reduction.
134 citations
TL;DR: In a simple convex model of endogenous growth, the expansionary effects of a deficit-financed tax cut are often strong enough to allow the government debt to be paid off in the long run without the need for subsequent tax increases as mentioned in this paper.
134 citations
TL;DR: In this article, the authors look to the small business sector as a potential engine of economic growth and propose tax relief, direct subsidies, and indirect subsidization policies to promote small businesses.
Abstract: Increasingly, policymakers look to the small business sector as a potential engine of economic growth. Policies to promote small businesses include tax relief, direct subsidies, and indirect subsid...
134 citations
TL;DR: Mertens and Ravn as mentioned in this paper estimate impulse response functions (IRFs) from income tax changes in a structural vector autoregression (SVAR) by using narrative accounts of tax liability changes.
Abstract: Mertens and Ravn (2013) estimate impulse response functions (IRFs) from income tax changes in a structural vector autoregression (SVAR) by using narrative accounts of tax liability changes...
133 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 |