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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Working Papers

These papers are 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. A list of forthcoming and published papers is available on our externally published research page.

June 2025, No. 25-02

Max-Share Misidentification

Liyu Dou, Paul Ho and Thomas A. Lubik

January 2025, No. 25-01

The IT Boom and Other Unintended Consequences of Chasing the American Dream

Gaurav Khanna and Nicolas Morales

December 2024, No. 24-17

Designing Market Shock Scenarios

Azamat Abdymomunov, Zheng Duan, Anne Lundgaard Hansen and Ulas Misirli

December 2024, No. 24-16

Minority Inflation, Unemployment, and Monetary Policy

Munseob Lee, Claudia Macaluso and Felipe F. Schwartzman

December 2024, No. 24-15

The Relationship Between Inflation and the Distribution of Relative Price Changes

Andreas Hornstein, Francisco Ruge-Murcia and Alexander L. Wolman

November 2024, No. 24-14

Assortative Matching and Wages: The Role of Selection

Katarína Borovičková and Robert Shimer

November 2024, No. 24-13

The Changing Nature of Technology Shocks

Christoph Görtz, Christopher Gunn and Thomas A. Lubik

November 2024, No. 24-12

The Politics of Debt in the Era of Rising Rates

Marina Azzimonti and Nirvana Mitra

October 2024, No. 24-11R

Demographic Differences in Letters of Recommendation for Economics Ph.D. Students (Revised May 2025)

Beverly Hirtle and Anna Kovner

September 2024, No. 24-10R

Tracing Bank Runs in Real Time (Revised September 2024)

Marco Cipriani, Thomas M. Eisenbach and Anna Kovner

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Katrina Mullen