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Evan F. Koenig
Senior Vice President and Principal Policy Advisor
Federal Reserve Bank of Dallas

Evan F. Koenig is a senior vice president at the Federal Reserve Bank of Dallas.  He also serves as the Bank’s principal monetary policy advisor. In that capacity he regularly attends meetings of the Federal Open Market Committee (FOMC) with the Bank’s president, oversees preparations for FOMC and other policy meetings, and briefs the Bank’s president and directors on economic developments.

Koenig has been active in economic research for three decades. His recent efforts have focused on predicting and explaining movements in prices, output and employment, and on understanding monetary policy’s role in the economy. His articles have appeared in a variety of Dallas Fed publications and in such respected scholarly journals as The Quarterly Journal of Economics, The Review of Economics and Statistics, The Journal of Business and Economic Statistics, The International Journal of Central Banking, and The Journal of Public Economics.

Koenig earned a bachelor’s degree, with honors, from the University of Wisconsin, and a doctorate in economics from Harvard University. He joined the Dallas Fed in 1988 after teaching for several years at the University of Washington in Seattle.

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Evan F. Koenig
Senior Vice President and Principal Policy Advisor
Federal Reserve Bank of Dallas

Employment History

  • Senior Vice President and Principal Policy Advisor (Sept. 2013–present); Federal Reserve Bank of Dallas
  • Vice President and Senior Policy Advisor (Sept. 2007–August 2013); Federal Reserve Bank of Dallas; Adjunct Professor, Department of Economics, Southern Methodist University
  • Senior Economist and Vice President (Jan. 2000–Sept. 2007) Federal Reserve Bank of Dallas; Adjunct Professor, Department of Economics, Southern Methodist University
  • Senior Economist and Assistant Vice President, (Jan. 1997–Dec. 1999) Federal Reserve Bank of Dallas
  • Research Officer (Jan. 1994–Dec. 1996) Federal Reserve Bank of Dallas
  • Senior Economist and Policy Advisor (March 1990–Dec. 1993) Federal Reserve Bank of Dallas
  • Senior Economist (Sept. 1988–Feb. 1990) Federal Reserve Bank of Dallas
  • Assistant Professor (Sept. 1979–Aug. 1988) Department of Economics, University of Washington, Seattle

Educational Background

  • BA with honors (double major: economics and mathematics), University of Wisconsin–Madison, 1974.
  • PhD (Economics), Harvard University, 1981.

Published Research Articles

  • “Credit Indicators as Predictors of Economic Activity: A Real-Time VAR Analysis,” with N. Kundan Kishor, Journal of Money, Credit, and Banking (forthcoming).
  • “Like a Good Neighbor: Monetary Policy, Financial Stability, and the Distribution of Risk,” International Journal of Central Banking 9 (2013), pp. 57–82.
  • “VAR Estimation and Forecasting When Data Are Subject to Revision,” with N. Kundan Kishor, Journal of Business and Economic Statistics, 30 (2012), pp. 181–90.
  • “Can Alternative Taylor-Rule Specifications Describe Federal Reserve Policy Decisions?” with Adriana Fernandez, Journal of Policy Modeling 32 (2010), pp. 733–57.
  • “The Use and Abuse of Real-Time and Anecdotal Information in Monetary Policymaking,” Source OECD: General Economics and Future Studies, vol. 2005, no. 35
  • “Monetary Policy Prospects,”PDF Federal Reserve Bank of Dallas Economic and Financial Policy Review, no. 2, 2004.
  • "The Use and Abuse of ‘Real-Time’ Data in Economic Forecasting," with Sheila Dolmas and Jeremy Piger, Review of Economics and Statistics, 85, 2003.
  • "Is the Markup a Useful Real-Time Predictor of Inflation?" Economics Letters, 80, 2003, pp. 261–67.
  • "Using the Purchasing Managers’ Index to Assess the Economy’s Strength and the Likely Direction of Monetary Policy,"PDFFederal Reserve Bank of Dallas Economic and Financial Policy Review, Issue 6, 2002.
  • "Is There a Persistence Problem? Part 2: Maybe Not,"PDF Federal Reserve Bank of Dallas Economic and Financial Review, Fourth Quarter 2000. 
  • "Achieving 'Program Neutrality' under a National Retail Sales Tax," National Tax Journal, December 1999.
  • "Is There a Persistence Problem? Part 1: Maybe," Federal Reserve Bank of Dallas Economic and Financial Review, Fourth Quarter 1999.
  • "Taxing Government in a National Retail Sales Tax," with William G. Gale, Diane Lim Rogers and John Sabelhaus, Tax Notes, October 1998. 
  • "The Dynamic Impact of Fundamental Tax Reform: Extensions of the Basic Model,"PDF with Gregory Huffman, Federal Reserve Bank of Dallas Economic Review, Second Quarter 1998.
  • "The Dynamic Impact of Fundamental Tax Reform: The Basic Model,"PDF with Gregory Huffman, Federal Reserve Bank of Dallas Economic Review, First Quarter 1998.
  • "Interest Rates and the Recent Weakness in M2: An Extension to the P* Model of Inflation" Journal of Economics and Business 48, 1996, pp. 487–98.
  • "Capacity Utilization as a Real-Time Predictor of Manufacturing Output", PDF Federal Reserve Bank of Dallas Economic Review, Third Quarter 1996, pp. 16–23.
  • "Forecasting M2 Growth: An Exploration in Real Time, PDF Federal Reserve Bank of Dallas Economic Review, Second Quarter 1996, pp. 16–26.
  • "Long-Term Interest Rates and the Recent Weakness in M2," Journal of Economics and Business 48, 1996, pp. 81–101.
  • "Targeting Nominal Income: A Closer Look," Economics Letters, 51, 1996, pp. 89–93.
  • "Optimal Monetary Policy in an Economy with Sticky Nominal Wages,"PDF Federal Reserve Bank of Dallas Economic Review, Second Quarter 1995, pp. 24–31.
  • "Why the Composite Index of Leading Indicators Doesn't Lead," with Kenneth M. Emery, Contemporary Economic Policy 12, January 1994, pp. 52–66.
  • "Rethinking the IS in IS-LM: Adapting Keynesian Tools to Non-Keynesian Economies,"PDF Federal Reserve Bank of Dallas Economic Review (Part 1 published Third Quarter 1993; Part 2 published Fourth Quarter 1993PDF.)
  • "Do Interest Rates Help Predict Inflation?" with Kenneth M. Emery, Federal Reserve Bank of Dallas Economic Review, Fourth Quarter 1992, pp. 1–17.
  • "Forecasting Turning Points: Is a Two-State Characterization of the Business Cycle Appropriate?" with Kenneth M. Emery, Economics Letters 39, August 1992, pp. 431–35.
  • "Misleading Indicators? Using the Composite Leading Indicators to Predict Cyclical Turning Points," with Kenneth M. Emery, Federal Reserve Bank of Dallas Economic Review, July 1991, pp. 1–14.
  • "Real Money Balances and the Timing of Consumption: An Empirical Investigation," Quarterly Journal of Economics 105, 1990, pp. 399–426.
  • "A New Monetary Aggregate," with Thomas B. Fomby, Federal Reserve Bank of Dallas Economic Review, May 1990, pp. 1–16.
  • "Recent Trade and Exchange Rate Movements: Possible Explanations," Federal Reserve Bank of Dallas Economic Review, September 1989, pp. 13–28.
  • "Investment and the Nominal Interest Rate: The Variable Velocity Case," Economic Inquiry 27, 1989, pp. 325–44.
  • "The Short Run 'Tobin Effect' in a Monetary Optimizing Model," Economic Inquiry 25, 1987, pp.43–54.
  • "Indirect Methods for Regulating Externalities under Uncertainty," Quarterly Journal of Economics 99, 1985, pp. 479–93.
  • "Controlling Stock Externalities in a Common Property Fishery Subject to Uncertainty," Journal of Environmental Economics and Management 11, 1984, pp.124–8.
  • "Fisheries Regulation under Uncertainty: A Dynamic Analysis," Marine Resource Economics 1, 1984, pp.193–208.
  • "Uncertainty and Pollution: The Role of Indirect Taxation," Journal of Public Economics 24, 1984, pp.111–22.
  • "Electric Utility Rate Structures and Distributed Thermal Energy Storage," Energy: The International Journal 6, 1981, pp. 457–70.
  • "Theory of Graphs: Applications to Automata Systems," Kybernetes 5, 1976.
  • "On Some Models of World Cataclysm," with Richard H. Day, Land Economics 51, 1975, pp.1–20.
  • "Models of Doom"-review article, Transactions of the American Fisheries Society, January 1975.

Selected Articles on Public Policy

Work in Progress

  • "Like a Good Neighbor: Monetary Policy, Financial Stability, and the Distribution of Risk."
  • "Credit Indicators as Predictors of Economic Activity: A Real-Time VAR Analysis" with N. Kundan Kishor.

Contact Evan Koenig

 

 

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