Econometrics

• Working Paper

  Are Nonlinear Methods Necessary at the Zero Lower Bound?

  This paper examines the importance of the zero lower bound (ZLB) constraint on the nominal interest rate by estimating three variants of a small-scale New Keynesian model.

  August 01, 2016

• Working Paper

  Economic Policy Uncertainty and the Credit Channel: Aggregate and Bank Level U.S. Evidence over Several Decades

  Economic policy uncertainty affects decisions of households, businesses, policy makers and financial intermediaries.

  June 29, 2016

• Working Paper

  Why Are Big Banks Getting Bigger?

  The U.S. banking sector has become substantially more concentrated since the 1990s, raising questions about both the causes and implications of this consolidation.

  February 18, 2016