Publication
Working Paper (Federal Reserve Bank of Cleveland)
1976-2015
Working Papers are preliminary versions of technical papers containing the results and discussions of current research. Written for eventual publication in professional economics journals, these papers offer a draft-by-draft view of our research process over a wide range of economic topics.
- Working Papers (Federal Reserve Bank of Cleveland)
- 1970s
- 1980s
- 1990s
- 2000s
- 2010s
- The National Banking System: Empirical Observations, Working Paper 07-19R
- The National Banking System: The National Bank Note Puzzle, Working Paper 07-22R
- The National Banking System: A Brief History, Working Paper 07-23R
- Deposit Market Competition, Wholesale Funding, and Bank Risk, Working Paper 09-05R
- Competition or Collaboration? The Reciprocity Effect in Loan Syndication, Working Paper 09-09R
- Re-Examining the Role of Sticky Wages in the U.S. Great Contraction: A Multisectoral Approach, Working Paper 09-11R
- The Duration of Bank Retail Interest Rates, Working Paper 10-01R
- Measuring Systemic Risk, Working Paper 10-02
- Debt Overhang in a Business Cycle Model, Working Paper 10-03R
- A Structural Model of Contingent Bank Capital, Working Paper 10-04
- Systemic Risk Analysis Using Forward-Looking Distance-to-Default Series, Working Paper 10-05
- Lending Patterns in Poor Neighborhoods, Working Paper 10-06R
- U.S. Foreign-Exchange-Market Intervention during the Volcker-Greenspan Era, Working Paper 10-07
- Endogenous Gentrification and Housing-Price Dynamics, Working Paper 10-08R1
- Banking and Financial Crises in United States History: What Guidance Can History Offer Policymakers?, Working Paper 10-09
- Liquidity Creation without a Lender of Last Resort: Clearing House Loan Certificates in the Banking Panic of 1907, Working Paper 10-10
- The Effect of Foreclosures on Nearby Housing Prices: Supply or Disamenity?, Working Paper 10-11R
- Redshirting, Compulsory Schooling Laws, and Educational Attainment, Working Paper 10-12
- Private-Activity Municipal Bonds: The Political Economy of Volume Cap Allocation, Working Paper 10-13
- Interbank Tiering and Money Center Banks, Working Paper 10-14
- Cleaning up the Refuse from a Financial Crisis: The Case for a Resolution Management Corporation, Working Paper 10-15
- Liquidity and Asset Market Dynamics, Working Paper 10-16
- The Ins and Outs of Unemployment in the Long Run: A New Estimate for the Natural Rate?, Working Paper 10-17R
- The Effects of Capital Market Openness on Exchange Rate Pass-through and Welfare in an Inflation-Targeting Small Open Economy, Working Paper 10-18
- The Importance of Financial Market Development on the Relationship between Loan Guarantees for SMEs and Local Market Employment Rates, Working Paper 10-20
- Homeownership for the Long Run: An Analysis of Homeowner Subsidies, Working Paper 10-21R
- Blowing It Up and Knocking It Down: The Local and Citywide Effects of Demolishing High-Concentration Public Housing on Crime, Working Paper 10-22R
- Disadvantaged Business Enterprise Goals in Government Procurement Contracting: An Analysis of Bidding Behavior and Costs, Working Paper 11-02
- The Cost of Inflation: A Mechanism Design Approach, Working Paper 11-03
- On the Coexistence of Money and Higher-Return Assets and its Social Role, Working Paper 11-04
- Liquidity in Frictional Asset Markets, Working Paper 11-05
- The Demand for Income Tax Progressivity in the Growth Model, Working Paper 11-06
- Inflation Expectations, Real Rates, and Risk Premia: Evidence from Inflation Swaps, Working Paper 11-07
- U.S. Intervention during the Bretton Woods Era: 1962-1973, Working Paper 11-08
- False Security: How Securitization Failed to Protect Arrangers and Investors from Borrower Claims, Working Paper 11-09
- Prioritization in Private-Activity-Bond Volume Cap Allocation, Working Paper 11-10
- Search Frictions and the Labor Wedge, Working Paper 11-11R
- Bayesian VARs Specification Choices and Forecast Accuracy, Working Paper 11-12
- On the Evolution of U.S. Foreign-Exchange-Market Intervention: Thesis, Theory, and Institutions, Working Paper 11-13
- Banking Relationships and Sell-Side Research, Working Paper 11-14
- Beyond the Transaction: Depository Institutions and Reduced Mortgage Default for Low-Income Homebuyers, Working Paper 11-15
- Public Policy in Support of Small Business: The American Experience, Working Paper 11-16
- Indexed Debt Contracts and the Financial Accelerator, Working Paper 11-17
- The Federal Reserve as an Informed Foreign-Exchange Trader: 1973-1995, Working Paper 11-18
- Inter-Regional Home Price Dynamics through the Foreclosure Crisis, Working Paper 11-19
- Advances in Forecast Evaluation, Working Paper 11-20
- Tests of Equal Forecast Accuracy for Overlapping Models, Working Paper 11-21
- The Impact of Vacant, Tax-Delinquent, and Foreclosed Property on Sales Prices of Neighboring Homes, Working Paper 11-23R
- Liquidity and the Threat of Fraudulent Assets, Working Paper 11-24
- Ability Matching and Occupational Choice, Working Paper 11-25
- When Should Children Start School?, Working Paper 11-26R
- U.S. Monetary-Policy Evolution and U.S. Intervention, Working Paper 11-27
- A Medium Scale Forecasting Model for Monetary Policy, Working Paper 11-28
- SAFE: An Early Warning for Systemic Banking Risk, Working Paper 11-29
- The Financial Stress Index: Identification of Systemic Risk Conditions, Working Paper 11-30R3
- Bank Mergers and Deposit Interest Rate Rigidity, Working Paper 11-31
- Substitution between Net and Gross Settlement Systems: A Concern for Financial Stability?, Working Paper 11-32
- The Term Structure of Inflation Compensation in the Nominal Yield Curve, Working Paper 11-33
- A Bayesian Evaluation of Alternative Models of Trend Inflation, Working Paper 11-34
- Community-Based Well Maintenance in Rural Haiti, Working Paper 12-01R
- How Inflationary Is an Extended Period of Low Interest Rates?, Working Paper 12-02
- The Impact of Recovery Efforts on Residential Vacancies, Working Paper 12-03
- Within-city Variation in Urban Decline: The Case of Detroit, Working Paper 12-05
- Common Drifting Volatility in Large Bayesian VARs, Working Paper 12-06
- Epilogue: Foreign-Exchange-Market Operations in the Twenty-First Century, Working Paper 12-07
- Evidence of Neighborhood Effects from MTO: LATEs of Neighborhood Quality, Working Paper 12-08R
- Bank Balance Sheet Dynamics under a Regulatory Liquidity-Coverage-Ratio Constraint, Working Paper 12-09
- Approximating High-Dimensional Dynamic Models: Sieve Value Function Iteration, Working Paper 12-10R
- Diagnosing Labor Market Search Models: A Multiple-Shock Approach, Working Paper 12-11
- The Relationship between City Center Density and Urban Growth or Decline, Working Paper 12-13
- Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record, Working Paper 12-14
- Estimating Contract Indexation in a Financial Accelerator Model, Working Paper 12-16R
- Trimmed-Mean Inflation Statistics: Just Hit the One in the Middle, Working Paper 12-17R
- The Macroeconomic Forecasting Performance of Autoregressive Models with Alternative Specifications of Time-Varying Volatility, Working Paper 12-18
- A Tractable Estimator for General Mixed Multinomial Logit Models, Working Paper 12-19
- Mortgage Companies and Regulatory Arbitrage, Working Paper 12-20R
- Business Cycles and Financial Crises: The Roles of Credit Supply and Demand Shocks, Working Paper 12-21R
- Believe Only What You See: Credit Rating Agencies, Structured Finance, and Bonds, Working Paper 12-22
- Who's Afraid of Good Governance? State Fiscal Crises, Public Pension Underfunding, and the Resistance to Governance Reform, Working Paper 12-23
- The Ins and Outs of Unemployment in the Long Run: Unemployment Flows and the Natural Rate, Working Paper 12-24
- Learning and Occupational Sorting, Working Paper 12-25
- Did Local Lenders Forecast the Bust? Evidence from the Real Estate Market, Working Paper 12-26
- Real-Time Nowcasting with a Bayesian Mixed Frequency Model with Stochastic Volatility, Working Paper 12-27
- The Panic of 1907, Working Paper 12-28
- Bridging the Gap? Government Subsidized Lending and Access to Capital, Working Paper 12-29
- Land Bank 2.0: An Empirical Evaluation, Working Paper 12-30R
- Measures beyond the College Degree Share to Guide Inter-regional Comparisons and Workforce Development, Working Paper 12-31
- Bretton Woods, Swap Lines, and the Federal Reserve's Return to Intervention, Working Paper 12-32
- Inflation and Output in New Keynesian Models with a Transient Interest Rate Peg, Working Paper 12-34
- Fiscal Multipliers under an Interest Rate Peg of Deterministic vs. Stochastic Duration, Working Paper 12-35
- The Cyclical Behavior of Equilibrium Unemployment and Vacancies across OECD Countries, Working Paper 12-36R2
- Financial Stress Index: A Lens for Supervising the Financial System, Working Paper 12-37
- Leverage, Investment, and Optimal Monetary Policy, Working Paper 12-38
- Privately Optimal Contracts and Suboptimal Outcomes in a Model of Agency Costs, Working Paper 12-39R
- Can Local Housing Ordinances Prevent Neighborhood Destabilization?, Working Paper 12-40R
- Do Public Pension Obligations Affect State Funding Costs?, Working Paper 13-01R
- Human Capital in the Inner City, Working Paper 13-02R
- It's Not Just for Inflation: The Usefulness of the Median CPI in BVAR Forecasting, Working Paper 13-03
- Liquidity Provision during the Crisis of 1914: Private and Public Sources, Working Paper 13-04R
- Moving to a Job: The Role of Home Equity, Debt, and Access to Credit, Working Paper 13-05R
- On the Non-Optimality of a Diamond-Dybvig Contract in the Goldstein-Pauzner Environment, Working Paper 13-06
- The Long-Term Employment Impacts of Gentrification in the 1990s, Working Paper 13-07
- Close but not a Central Bank: The New York Clearing House and Issues of Clearing House Loan Certificates, Working Paper 13-08
- Policy in Adaptive Financial Markets - The Use of Systemic Risk Early Warning Tools, Working Paper 13-09
- Covariates and Causal Effects: The Problem of Context, Working Paper 13-10R
- Low-Income-Rental-Housing Programs in the Fourth District, Working Paper 13-11
- Cryptography and the Economics of Supervisory Information: Balancing Transparency and Confidentiality, Working Paper 13-12
- Are Banks Forward-Looking in Their Loan-Loss Provisioning? Evidence from the Senior Loan Officer Opinion Survey (SLOOS), Working Paper 13-13R
- Friends Do Let Friends Buy Stocks Actively, Working Paper 13-14
- What Do We Know about Regional Banks? An Exploratory Analysis, Working Paper 13-16
- Lending to Women in Microfinance: Influence of Social Trust and National Culture, Working Paper 13-17
- Consumer Debt Dynamics: Follow the Increasers, Working Paper 14-01
- Independent within--not of--Government: The Emergence of the Federal Reserve as a Modern Central Bank, Working Paper 14-02
- Nowcasting U.S. Headline and Core Inflation, Working Paper 14-03R
- Financial Innovations and Issuer Sophistication in Municipal Securities Markets, Working Paper 14-04
- Why Do Earnings Fall with Job Displacement?, Working Paper 14-05
- Household Finance after a Natural Disaster: The Case of Hurricane Katrina, Working Paper 14-06R
- Federal Reserve Policy and Bretton Woods, Working Paper 14-07
- Outside Lending in the NYC Call Loan Market, Working Paper 14-08
- The Transmission of the Financial Crisis in 1907: An Empirical Investigation, Working Paper 14-09
- Labor Force Participation: Recent Developments and Future Prospects, Working Paper 14-10
- Have Standard VARs Remained Stable since the Crisis?, Working Paper 14-11R
- Tracing Out Capital Flows: How Financially Integrated Banks Respond to Natural Disasters, Working Paper 14-12R
- Evaluating Conditional Forecasts from Vector Autoregressions, Working Paper 14-13R
- The Evolution of the Federal Reserve Swap Lines since 1962, Working Paper 14-14
- Differential Capital Requirements: Leverage Ratio versus Risk-Based Capital Ratio from a Monitoring Perspective, Working Paper 14-15
- Filling in the Blanks: Network Structure and Interbank Contagion, Working Paper 14-16
- Volatile Lending and Bank Wholesale Funding, Working Paper 14-17
- Interbank Lending and Distress: Observables, Unobservables, and Network Structure, Working Paper 14-18
- Targeting Long Rates in a Model with Segmented Markets, Working Paper 14-19
- Optimal Contracts, Aggregate Risk, and the Financial Accelerator, Working Paper 14-20
- The Role of Interbank Relationships and Liquidity Needs, Working Paper 14-21
- Unemployment Flows, Participation, and the Natural Rate for Turkey, Working Paper 14-22
- The Impact of Missed Payments and Foreclosures on Credit Scores, Working Paper 14-23
- What Is the Equity-Efficiency Tradeoff when Maintaining Wells in Rural Haiti?, Working Paper 14-24
- Debt-Overhang Banking Crises, Working Paper 14-25
- Drifting Inflation Targets and Monetary Stagflation, Working Paper 14-26
- Estimating (Markov-Switching) VAR Models without Gibbs Sampling: A Sequential Monte Carlo Approach, Working Paper 14-27
- Rebuilding after Disaster Strikes: How Local Lenders Aid in the Recovery, Working Paper 14-28
- Do Tenant-and Place-Based Rental Housing Programs Complement Each Other? Evidence from Ohio, Working Paper 14-29R
- Frequency Dependence in a Real-Time Monetary Policy Rule, Working Paper 14-30
- Household Debt and Local Public Finances, Working Paper 14-31
- The Piketty Transition, Working Paper 14-32R
- Can Leverage Constraints Help Investors?, Working Paper 14-33
- Legal Institutions, Credit Markets, and Economic Activity, Working Paper 14-34
- An Empirical Analysis of Racial Segregation in Higher Education, Working Paper 14-35
- What Kind of Teachers Are Schools Looking For? Evidence from a Randomized Field Experiment, Working Paper 14-36
- The Effect of Safe Assets on Financial Fragility in a Bank-Run Model, Working Paper 14-37
- Assessing the Change in Labor Market Conditions, Working Paper 14-38
- Using Entropic Tilting to Combine BVAR Forecasts with External Nowcasts, Working Paper 14-39
- Big Data versus a Survey, Working Paper 14-40
- Majority Voting: A Quantitative Investigation, Working Paper 14-42
- Centrality-based Capital Allocations, Working Paper 15-01
- Lessons for Forecasting Unemployment in the U.S.: Use Flow Rates, Mind the Trend, Working Paper 15-02
- Are America's Inner Cities Competitive? Evidence from the 2000s, Working Paper 15-03R
- How Cyclical Is Bank Capital?, Working Paper 15-04
- A Distinction between Causal Effects in Structural and Rubin Causal Models, Working Paper 15-05
- Assessing the Evidence on Neighborhood Effects from Moving to Opportunity, Working Paper 15-06
- The Rise and Fall of Consumption in the '00s, Working Paper 15-07
- Determinants of Expected Returns at Public Defined-Benefit Pension Plans, Working Paper 15-08
- The 2012 Eurozone Crisis and the ECB's OMT Program: A Debt-Overhang Banking and Sovereign Crisis Interpretation, Working Paper 15-09
- The Federal Reserve System and World War I: Designing Policies without Precedent, Working Paper 15-10
- Determinants of Differential Rent Changes: Mean Reversion versus the Usual Suspects, Working Paper 15-11
- Forecasts from Reduced-form Models under the Zero-Lower-Bound Constraint, Working Paper 15-12
- Evaluating the Information Value for Measures of Systemic Conditions, Working Paper 15-13
- Job Ladders and Earnings of Displaced Workers, Working Paper 15-14
- Credit Market Information Feedback, Working Paper 15-15
- Metropolitan Area Home Prices and the Mortgage Interest Deduction: Estimates and Simulations from Policy Change, Working Paper 15-16
- Community Leaders and the Preservation of Cultural Traits, Working Paper 15-17
- Intermediation in Networks, Working Paper 15-18
- Forecasting Inflation: Phillips Curve Effects on Services Price Measures, Working Paper 15-19
- A New Model of Inflation, Trend Inflation, and Long-Run Inflation Expectations, Working Paper 15-20
- YOLO: Mortality Beliefs and Household Finance Puzzles, Working Paper 15-21
- Facebook Finance: How Social Interaction Propagates Active Investing, Working Paper 15-22
- A State-Level Analysis of Okun's Law, Working Paper 15-23
- Clustered Housing Cycles, Working Paper 15-24
- Neighborhood Dynamics and the Distribution of Opportunity, Working Paper 15-25
- Give 'em Enough Rope? Leveraged Trading when Investors are Overconfident, Working Paper 15-26
- Tracking Trend Inflation: Nonseasonally Adjusted Variants of the Median and Trimmed-Mean CPI, Working Paper 15-27
- Identifying Structural VARs with a Proxy Variable and a Test for a Weak Proxy, Working Paper 15-28
- From Organization to Activity in the US Collateralized Interbank Market, Working Paper 15-29
- Persistence Dependence in Empirical Relations: The Velocity of Money, Working Paper 15-30
- Macro Credit Policy and the Financial Accelerator, Working Paper 15-31
- Industrial Composition and Intergenerational Mobility, Working Paper 15-33
- Premium Municipal Bonds and Issuer Fiscal Distress, Working Paper 15-34
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Current working papers available from https://www.clevelandfed.org/publications/working-paper
1976-2015
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Cleveland
- lcc: HC101.W67
- oclc: 9302688
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