Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1304
result(s)
Bank Runs, Portfolio Choice, and Liquidity Provision
Staff Working Paper 2019-37
Toni Ahnert,
Mahmoud Elamin
After the financial crisis of 2007–09, many jurisdictions introduced new banking regulations to make banks more resilient and less likely to fail. These regulations included tighter limits for the quality and quantity of bank capital and introduced minimum standards for liquidity. But what was the impact of these changes?
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial stability,
Wholesale funding
JEL Code(s):
G,
G0,
G01,
G2,
G21
No Double Standards: Quantifying the Impact of Standard Harmonization on Trade
Staff Working Paper 2019-36
Julia Schmidt,
Walter Steingress
Product standards are omnipresent in industrialized societies. Though standardization can be beneficial for domestic producers, divergent product standards have been categorized as a major obstacle to international trade. This paper quantifies the effect of standard harmonization on trade flows and characterizes the extent to which it changes the cost and demand structure of exporting.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
International topics
JEL Code(s):
F,
F1,
F13,
F14,
F15,
L,
L1,
L15
The Simple Economics of Global Fuel Consumption
Staff Working Paper 2019-35
Doga Bilgin,
Reinhard Ellwanger
This paper presents a structural framework of the global oil market that relies on information on global fuel consumption to identify flow demand for oil. We show that under mild identifying assumptions, data on global fuel consumption help to provide comparatively sharp insights on elasticities and other key structural parameters of the global oil market.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models
JEL Code(s):
C,
C5,
C51,
L,
L7,
L71,
Q,
Q4,
Q41,
Q43
Exchange Rates, Retailers, and Importing: Theory and Firm-Level Evidence
Staff Working Paper 2019-34
Alex Chernoff,
Patrick Alexander
We develop a model with firm heterogeneity in importing and cross-border shopping among consumers. Exchange-rate appreciations lower the cost of imported goods, but also lead to more cross-border shopping; hence, the net impact on aggregate retail prices and sales is ambiguous.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
International topics,
Service sector
JEL Code(s):
F,
F1,
F10,
F14,
L,
L8,
L81
The Intergenerational Correlation of Employment: Is There a Role for Work Culture?
Staff Working Paper 2019-33
Gabriela Galassi,
David Koll,
Lukas Mayr
We document a substantial positive correlation of employment status between mothers and their children in the United States, linking data from the National Longitudinal Survey of Youth 1979 (NLSY79) and the NLSY79 Children and Young Adults. After controlling for ability, education and wealth, a one-year increase in a mother’s employment is associated with six weeks more employment of her child on average.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Economic models,
Labour markets
JEL Code(s):
E,
E2,
E24,
J,
J2,
J21,
J22,
J6,
J62
Explaining the Interplay Between Merchant Acceptance and Consumer Adoption in Two-Sided Markets for Payment Methods
Staff Working Paper 2019-32
Kim Huynh,
Gradon Nicholls,
Oleksandr Shcherbakov
Recent consumer and merchant surveys show a decrease in the use of cash at the point of sale. Increasingly, consumers and merchants have access to a growing array of payment innovations as substitutes for cash.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods,
Financial services
JEL Code(s):
C,
C5,
C51,
L,
L1,
L13,
L15,
L8,
L81,
L9,
L96
Financial Frictions, Durable Goods and Monetary Policy
Staff Working Paper 2019-31
Ugochi Emenogu,
Leo Michelis
Financial frictions affect how much consumers spend on durable and non-durable goods. Borrowers can face both loan-to-value (LTV) constraints and payment-to-income (PTI) constraints.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial system regulation and policies,
Monetary policy
JEL Code(s):
E,
E4,
E44,
E5,
E52
Resolving Failed Banks: Uncertainty, Multiple Bidding & Auction Design
Staff Working Paper 2019-30
Jason Allen,
Robert Clark,
Brent Hickman,
Eric Richert
Bank resolution is costly. In the United States, the Federal Deposit Insurance Corporation (FDIC) typically resolves failing banks by auction.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial institutions
JEL Code(s):
C,
C5,
C57,
D,
D4,
D44,
G,
G2,
G21
Flight from Safety: How a Change to the Deposit Insurance Limit Affects Households’ Portfolio Allocation
Staff Working Paper 2019-29
H. Evren Damar,
Reint Gropp,
Adi Mordel
Deposit insurance protects depositors from failing banks, thus making insured deposits risk-free. When a deposit insurance limit is increased, some deposits that previously were uninsured become insured, thereby increasing the share of risk-free assets in households’ portfolios. This increase cannot simply be undone by households, because to invest in uninsured deposits, a household must first invest in insured deposits up to the limit. This basic insight is the starting point of the analysis in this paper.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial system regulation and policies
JEL Code(s):
D,
D1,
D14,
G,
G2,
G21,
G28,
L,
L5,
L51