Finance and Economics Discussion Series
		2000 FEDS papers FEDS ordering information

2000-53 (December)
Estimating the Value and Interest Rate Risk of Interest-Bearing Transactions Deposits
James M. O'Brien
Abstract | Full paper (341 KB PDF)

2000-52 (December)
Do the Rich Save More?
Karen E. Dynan, Jonathan Skinner, and Stephen P. Zeldes
Abstract | Full paper (535 KB PDF)

2000-51 (November)
Monetary Policy When the Nominal Short-Term Interest Rate Is Zero
James Clouse, Dale Henderson, Athanasios Orphanides, David Small, and Peter Tinsley
Abstract | Full paper (379 KB PDF)

2000-50 (November)
Pre-Announcement Effects, News, and Volatility: Monetary Policy and the Stock Market
Antulio N. Bomfim
Abstract | Full paper (131 KB PDF)

2000-49 (October)
The Flypaper Effect Unstuck: Evidence on Endogenous Grants from The Federal Highway Aid Program
Brian Knight
Abstract | Full paper (147 KB PDF)

2000-48 (October)
Bankruptcy in General Equilibrium
Tarun Sabarwal
Abstract | Full paper (406 KB PDF)

2000-47 (October)
Parameterizing Credit Risk Models With Rating Data
Mark Carey and Mark Hrycay
Abstract | Full paper (497 KB PDF)

2000-46 (October)
Empirical Evidence on Human Capital Spillovers
Jeremy B. Rudd
Abstract | Full paper (154 KB PDF)

2000-45 (October)
A Study of the Finite Sample Properties of EMM, GMM, QMLE, and MLE for a Square-Root Interest Rate Diffusion Model
Hao Zhou
Abstract | Full paper (617 KB PDF) | Full paper (826 KB Postscript)

2000-44 (October)
Credit Scoring and Mortgage Securitization: Do They Lower Mortgage Rates?
Andrea Heuson, Wayne Passmore, and Roger Sparks
Abstract | Full paper (134 KB PDF)

2000-43 (October)
Factor Supplies and Specialization in the World Economy
James Harrigan and Egon Zakrajsek
Abstract | Full paper (1183 KB PDF)

2000-42 (October)
Using Treasury STRIPS to Measure the Yield Curve
Brian Sack
Abstract | Full paper (863 KB PDF)

2000-41 (October)
An Analysis of European Banks SND Issues and Its Implications for the Design of a Mandatory Subordinated Debt Policy
Andrea Sironi
Abstract | Full paper (224 KB PDF)

2000-40 (October)
Testing for Market Discipline in the European Banking Industry: Evidence from Subordinated Debt Issues
Andrea Sironi
Abstract | Full paper (260 KB PDF)

2000-39 (June)
Did U.S. Bank Supervisors Get Tougher During the Credit Crunch? Did They Get Easier During the Banking Boom? Did It Matter to Bank Lending?
Allen N. Berger, Margaret K. Kyle, and Joseph M. Scalise
Abstract | Full paper (195 KB PDF) | Full paper (2367 KB Postscript)

2000-38 (June)
Do Minimum Wages Raise the NAIRU?
Peter Tulip
Abstract | Full paper (166 KB PDF)

2000-37 (June)
Efficiency Barriers to the Consolidation of the European Financial Services Industry
Allen N. Berger, Robert DeYoung, and Gregory F. Udell
Abstract | Full paper (67 KB PDF) | Full paper (734 KB Postscript)

2000-36 (June)
The Integration of the Financial Services Industry: Where are the Efficiencies?
Allen N. Berger
Abstract | Full paper (135 KB PDF) | Full paper (1601 KB Postscript)

2000-35 (June)
A Guide to the Use of Chain Aggregated NIPA Data
Karl Whelan
Abstract | Full paper (144 KB PDF)

2000-34 (June)
A Quantitative Defense of Stabilization Policy
Darrel Cohen
Abstract | Full paper (67 KB PDF) | Full paper (1011 KB Postscript)

2000-33 (June)
Deriving Inflation Expectations from Nominal and Inflation-Indexed Treasury Yields
Brian Sack
Abstract | Full paper (133 KB PDF)

2000-32 (June)
On Signal Extraction and Non-Certainty-Equivalence in Optimal Monetary Policy Rules
Eric T. Swanson
Abstract | Full paper (335 KB PDF) | Full paper (325 KB Postscript)

2000-31 (June)
Have the Doors Opened Wider? Trends in Homeownership by Race and Income
Raphael W. Bostic and Brian J. Surette
Abstract | Full paper (101 KB PDF) | Full paper (1048 KB Postscript)

2000-30 (May)
A Real Options Approach to Housing Investment
Chris Downing and Nancy Wallace
Abstract | Full paper (664 KB PDF) | Full paper (651 KB Postscript)

2000-29 (May)
Corporate Share Repurchases in the 1990s: What Role Do Stock Options Play?
Scott Weisbenner
Abstract | Full paper (168 KB PDF)

2000-28 (May)
Robust Monetary Policy with Misspecified Models: Does Model Uncertainty Always Call for Attenuated Policy?
Robert J. Tetlow and Peter von zur Muehlen
Abstract | Full paper (444 KB PDF)

2000-27 (April)
Has Compensation Become More Flexible?
Sandra A. Cannon, Bruce C. Fallick, Michael Lettau, and Raven Saks
Abstract | Full paper (568 KB PDF)

2000-26 (April)
Household Portfolios in the United States
Carol Bertaut and Martha Starr-McCluer
Abstract | Full paper (3605 KB PDF)

2000-25 (April)
Improving Grid-Based Methods for Estimating Value at Risk of Fixed-Income Portfolios
Michael S. Gibson and Matthew Pritsker
Abstract | Full paper (232 KB PDF)

2000-24 (April)
Microeconomic Inventory Adjustment: Evidence From U.S. Firm-Level Data
Egon Zakrajsek and Jonathan McCarthy
Abstract | Full paper (408 KB PDF) | Full paper (892 KB Postscript)

2000-23 (April)
Assessing the Productivity of Public Capital with a Locational Equilibrium Model
Jeremy B. Rudd
Abstract | Full paper (187 KB PDF)

2000-22 (April)
Purchasing Power Parity: Three Stakes Through the Heart of the Unit Root Null
Egon Zakrajsek and Matthew Higgins
Abstract | Full paper (3312 KB PDF)

2000-21 (March)
Does Multinationality Matter? Evidence of Value Destruction in U.S. Multinational Corporations
Reid W. Click and Paul Harrison
Abstract | Full paper (150 KB PDF)

2000-20 (March)
The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?
Stephen D. Oliner and Daniel E. Sichel
Abstract | Full paper (3960 KB PDF)

2000-19 (March)
Understanding Productivity: Lessons from Longitudinal Microdata
Mark E. Doms and Eric J. Bartelsman
Abstract | Full paper (95 KB PDF) | Full paper (1549 KB Postscript)

2000-18 (March)
Dimensions of Credit Risk and Their Relationship to Economic Capital Requirements
Mark Carey
Abstract | Full paper (174 KB PDF)

2000-17 (March)
Do Firms Share Their Success with Workers? The Response of Wages to Product Market Conditions
Marcello Estevao and Stacey Tevlin
Abstract | Full paper (180 KB PDF) | Full paper (378 KB Postscript)

2000-16 (March)
Heterogeneous Forecasts and Aggregate Dynamics
Antulio N. Bomfim
Abstract | Full paper (240 KB PDF) | Full paper (228 KB Postscript)

2000-15 (February)
Anatomy of a Fair Lending Exam: The Uses and Limitations of Statistics
Paul S. Calem and Stanley D. Longhofer
Abstract | Full paper (143 KB PDF) | Full paper (1217 KB Postscript)

2000-14 (January)
Making News: Financial Market Effects of Federal Reserve Disclosure Practices
Antulio N. Bomfim and Vincent R. Reinhart
Abstract | Full paper (333 KB PDF)

2000-13 (February)
Activist Stabilization Policy and Inflation: The Taylor Rule in the 1970s
Athanasios Orphanides
Abstract | Full paper (170 KB PDF) | Full paper (1122 KB Postscript)

2000-12 (February)
The Growth of Consumer Credit and the Household Debt Service Burden
Dean M. Maki
Abstract | Full paper (2214 KB PDF)

2000-11 (February)
Explaining the Investment Boom of the 1990s
Stacey Tevlin and Karl Whelan
Abstract | Full paper (245 KB PDF) | Full paper (855 KB Postscript)

2000-10 (January)
The Timing of Debt Issuance and Rating Migrations: Theory and Evidence
Dan Covitz and Paul Harrison
Abstract | Full paper (108 KB PDF)

2000-9 (January)
Generational Aspects of Medicare
Louise Sheiner and David Cutler
Abstract | Full paper (40 KB PDF)

2000-8 (January)
The Effects of Weather on Retail Sales
Martha Starr-McCluer
Abstract | Full paper (1770 KB PDF)

2000-7 (January)
On Identification of Continuous Time Stochastic Processes
Jeremy Berkowitz
Abstract | Full paper (92 KB PDF)

2000-6 (January)
Computers, Obsolescence, and Productivity
Karl Whelan
Abstract | Full paper (261 KB PDF)

2000-5 (January )
Stock Prices and Fundamentals in a Production Economy
Michael T. Kiley
Abstract | Full paper (108 KB PDF)

2000-4 (January)
Globalization of Financial Institutions: Evidence from Cross-Border Banking Performance
Allen N. Berger, Robert DeYoung, Hesna Genay, and Gregory F. Udell
Abstract | Full paper (10778 KB PDF)

2000-3 (January )
Should America Save for its Old Age? Population Aging, National Saving, and Fiscal Policy
Douglas Elmendorf and Louise Sheiner
Abstract | Full paper (186 KB PDF)

2000-2 (January)
Real Wage Dynamics and the Phillips Curve
Karl Whelan
Abstract | Full paper (184 KB PDF)

2000-1 (January)
Inflation Targeting and Target Instability
Robert J. Tetlow
Abstract | Full paper (128 KB PDF) | Full paper (453 KB Postscript)