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2095 Results

Job Ladder and Business Cycles

Staff working paper 2022-14 Felipe Alves
During downturns, workers get stuck in low-productivity jobs and wages remain stagnant. I build an heterogenous agent incomplete market model with a full job ladder that accounts for these facts. An adverse financial shock calibrated to the US Great Recession replicates the period’s slow recovery and missing disinflation.

Monetary Policy Transmission, Bank Market Power, and Wholesale Funding Reliance

Staff working paper 2023-35 Amina Enkhbold
I study how banking market concentration and reliance on wholesale funding affect monetary policy transmission to mortgage rates. I find that this transmission is imperfect and dampens the response of consumption, output, and housing prices.

Dynamic Privacy Choices

Staff working paper 2022-8 Shota Ichihashi
Consumers often express concerns about lack of privacy, but they still give up a lot of data to digital platforms. This paper builds a dynamic game-theoretic model of data collection and privacy protection, which potentially explains consumers’ behaviour.

The Sectoral Origins of Post-Pandemic Inflation

Staff working paper 2025-37 Jan David Schneider
This paper quantifies the contribution of sector-specific supply and demand shocks to personal consumption expenditure (PCE) inflation. It derives identification restrictions that are consistent with a large class of dynamic stochastic general equilibrium models with production networks.

Business Cycles in Small, Open Economies: Evidence from Panel Data Between 1900 and 2013

Staff working paper 2016-48 Thuy Lan Nguyen, Wataru Miyamoto
Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods.

Preferences, Monetary Policy and Household Inflation

Staff working paper 2024-45 Geoffrey R. Dunbar
I quantify the importance of changes in household preferences on household inflation rates using 11 years of scanner data for 11,000 US households. My results suggest that changes in household preferences are an important driver of inflation dynamics at the household level.

Identifying Consumer-Welfare Changes when Online Search Platforms Change Their List of Search Results

Staff working paper 2020-5 Ryan Martin
Online shopping is often guided by search platforms. Consumers type keywords into query boxes, and search platforms deliver a list of products. Consumers' attention is limited, and exhaustive searches are often impractical.
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