Working Papers

Research

home > publications > research >

Updates

RSS

Print

The following papers were written by Richmond Fed economists, in some cases in collaboration with outside economists. They represent work prepared for later publication or presentation to professional meetings. They are circulated in this series for purposes of discussion and comment only.

2009
2008
2007
2006
2005
2004
Archives

Paper	Title	Author(s)
09-13 October 2009	On the Cyclicality of the Interest Rate in Emerging Economy Models: Solution Methods Matter	Juan Carlos Hatchondo Leonardo Martinez Horacio Sapriza
09-12 September 2009	The Cyclicality of the User Cost of Labor with Search and Matching	Marianna Kudlyak
09-11 August 2009	Are Harsh Penalties for Default Really Better?	Kartik B. Athreya Xuan S. Tam Eric R. Young
09-10 July 2009	Recourse and Residential Mortgage Default: Theory and Evidence from U.S. States	Andra C. Ghent Marianna Kudlyak
09-9 June 2009	Unemployment Insurance with a Hidden Labor Market	Fernando Álvarez-Parra Juan M. Sanchez
09-8 May 2009	The Consolidation of Financial Market Regulation: Pros, Cons, and Implications for the United States	Sabrina R. Pellerin John R. Walter Patricia E. Wescott
09-7 April 2009	Assessing the Effectiveness of the Paulson "Teaser Freezer" Plan: Evidence from the ABX Index	Eliana Balla Robert E. Carpenter Breck Robinson
09-6 April 2009	On the Implementation of Markov-Perfect Interest Rate and Money Supply Rules: Global and Local Uniqueness	Michael Dotsey Andreas Hornstein
09-5 April 2009	Credit and Self-Employment	Kartik B. Athreya Ahmet Akyol
09-4 April 2009	The Role of Information in the Rise in Consumer Bankruptcies	Juan M. Sanchez
09-3 April 2009	Notes on Collateral Constraints in a Simple Model of Housing	Andreas Hornstein
09-2 March 2009	The Optimal Rate of Inflation with Trending Relative Prices	Alexander L. Wolman
09-1 February 2009	Fiscal Policy and Default Risk in Emerging Markets	Gabriel Cuadra Juan M. Sanchez Horacio Sapriza

Paper	Title	Author(s)
08-8R December 2008	Financing Development: The Role of Information Costs (Revised August 2009)	Jeremy Greenwood Juan M. Sanchez Cheng Wang
08-7 November 2008	Sectoral vs. Aggregate Shocks: A Structural Factor Analysis of Industrial Production	Andrew Foerster Pierre-Daniel G. Sarte Mark W. Watson
08-6 October 2008	A Quantitative Theory of Information and Unsecured Credit	Kartik B. Athreya Xuan S. Tam Eric R. Young
08-5 September 2008	Optimal Personal Bankruptcy Design: A Mirrlees Approach	Borys Grochulski
08-4 July 2008	Repeated Moral Hazard with Effort Persistence	Arantxa Jarque
08-3 June 2008	Housing Externalities: Evidence from Spatially Concentrated Urban Revitalization Programs	Esteban Rossi-Hansberg Pierre-Daniel G. Sarte Raymond E. Owens
08-2R May 2008	Long-Duration Bonds and Sovereign Defaults (Revised July 2009)	Juan Carlos Hatchondo Leonardo Martinez
08-1 March 2008	Inflation Dynamics with Search Frictions: A Structural Econometric Analysis	Michael U. Krause David Lopez-Salido Thomas A. Lubik

Paper	Title	Author(s)
07-7 December 2007	Moral Hazard and Persistence	Hugo Hopenhayn Arantxa Jarque
07-6 December 2007	Avoiding the Inflation Tax	Huberto M. Ennis
07-5 September 2007	The Anatomy of U.S. Personal Bankruptcy under Chapter 13	Hülya Eraslan Wenli Li Pierre-Daniel G. Sarte
07-4 August 2007	Notes on the Inflation Dynamics of the New Keynesian Phillips Curve	Andreas Hornstein
07-3 June 2007	A Literature Review on the Effectiveness of Financial Education	Matthew Martin
07-2 March 2007	Bank Runs and Institutions: The Perils of Intervention	Huberto M. Ennis Todd Keister
07-1R March 2007	Heterogeneous Borrowers in Quantitative Models of Sovereign Default (Revised: Sep. 2008)	Juan Carlos Hatchondo Leonardo Martinez Horacio Sapriza

Paper	Title	Author(s)
06-13 December 2006	Risky Human Capital and Deferred Capital Income Taxation	Borys Grochulski Tomasz Piskorski
06-12 November 2006	Market-Based Regulation and the Informational Content of Prices	Philip Bond Itay Goldstein Edward S. Prescott
06-11 December 2006	Computing Business Cycles in Emerging Economy Models	Juan Carlos Hatchondo Leonardo Martinez Horacio Sapriza
06-10 November 2006	Technology-Policy Interaction in Frictional Labor Markets	Andreas Hornstein Per Krusell Giovanni L. Violante
06-9 September 2006	The Political Economy of Labor Subsidies	Marina Azzimonti Eva de Francisco Per Krusell
06-8 September 2006	Technical Appendix for "Frictional Wage Dispersion in Search Models: A Quantitative Assessment"	Andreas Hornstein Per Krusell Giovanni L. Violante
06-7 September 2006	Frictional Wage Dispersion in Search Models: A Quantitative Assessment	Andreas Hornstein Per Krusell Giovanni L. Violante
06-6 August 2006	Understanding How Employment Responds to Productivity Shocks in a Model with Inventories	Yongsung Chang Andreas Hornstein Pierre-Daniel G. Sarte
06-5 May 2006	The Lucas Critique and the Stability of Empirical Models	Thomas A. Lubik Paolo Surico
06-4 May 2006	Home Production	Yongsung Chang Andreas Hornstein
06-3 May 2006	Nontraded Goods, Market Segmentation, and Exchange Rates	Michael Dotsey Margarida Duarte
06-2 February 2006	On the Aggregate and Distributional Implications of Productivity Differences across Countries	Andrés Erosa Tatyana Koreshkova Diego Restuccia
06-1R January 2006	Reputation, Career Concerns, and Job Assignments (Revised Apr. 2009)	Leonardo Martinez

Paper	Title	Author(s)
05-13 December 2005	Optimal Wealth Taxes with Risky Human Capital	Borys Grochulski Tomasz Piskorski
05-12 December 2005	A Quantitative Study of the Role of Wealth Inequality on Asset Prices	Juan Carlos Hatchondo
05-11 November 2005	Firms as Clubs in Walrasian Markets with Private Information: Technical Appendix	Edward S. Prescott Robert M. Townsend
05-9 September 2005	A Quantitative Theory of the Gender Gap in Wages	Andrés Erosa Luisa Fuster Diego Restuccia
05-8 August 2005	A General Equilibrium Analysis of Parental Leave Policies	Andrés Erosa Luisa Fuster Diego Restuccia
05-7 September 2005	Asymmetric Information and the Lack of International Portfolio Diversification	Juan Carlos Hatchondo
05-6 August 2005	The Value of Information with Heterogeneous Agents and Partially Revealing Prices	Juan Carlos Hatchondo
05-5 July 2005	Should the FDIC Worry about the FHLB? The Impact of Federal Home Loan Bank Advances on the Bank Insurance Fund	Rosalind L. Bennett Mark D. Vaughan Timothy J. Yeager
05-4R July 2005	A Theory of Political Cycles (Revised: Dec. 2008)	Leonardo Martinez
05-3 June 2005	Firm Fragmentation and Urban Patterns	Esteban Rossi-Hansberg Pierre-Daniel G. Sarte Raymond E. Owens
05-2 April 2005	Do Technological Improvements in the Manufacturing Sector Raise or Lower Employment?	Yongsung Chang Jay H. Hong
05-1 April 2005	The Replacement Problem in Frictional Economies: A Near-Equivalence Result	Andreas Hornstein Per Krusell Giovanni L. Violante

Paper	Title	Author(s)
04-10 December 2004	Alfred Marshall and the Quantity Theory of Money	Thomas M. Humphrey
04-8 December 2004	The Effects of Technical Change on Labor Market Inequalities	Andreas Hornstein Per Krusell Giovanni L. Violante
04-7 September 2004	Whither North Carolina Furniture Manufacturing?	Robert L. Lacy
04-6 August 2004	The Output Gap, Expected Future Inflation and Inflation Dynamics: Another Look	Yash P. Mehra
04-5 June 2004	Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria	Robert G. King Alexander L. Wolman
04-4 April 2004	An Inquiry into the Existence and Uniqueness of Equilibrium with State-Dependent Pricing	A. Andrew John Alexander L. Wolman
04-3 March 2004	Bank Runs and Investment Decisions Revisited	Huberto M. Ennis Todd Keister
04-2 February 2004	State-Contingent Bank Regulation With Unobserved Actions and Unobserved Characteristics	David A. Marshall Edward S. Prescott
04-1 February 2004	Price Stability and Japanese Monetary Policy	Robert L. Hetzel