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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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We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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Working Papers

December 2017, No. 17-15

Understanding the Size of the Government Spending Multiplier: It's in the Sign

Regis Barnichon and Christian Matthes

November 2017, No. 17-14R

The Persistence of Financial Distress (Revised July 2018)

Kartik B. Athreya, José Mustre-del-Río and Juan M. Sanchez

October 2017, No. 17-13R

Asset Issuance in Over-the-Counter Markets (Revised November 2018)

Zachary Bethune, Bruno Sultanum and Nicholas Trachter

October 2017, No. 17-12

Global Dynamics in a Search and Matching Model of the Labor Market

Nika Lazaryan and Thomas A. Lubik

October 2017, No. 17-11R

Severance Pay in an Optimal Contract (Revised September 2022)

Borys Grochulski, Russell Wong and Yuzhe Zhang

October 2017, No. 17-10

Urban Transportation and Inter-Jurisdictional Competition

July 2017, No. 17-09

What Remains of Milton Friedman's Monetarism?

Robert L. Hetzel

May 2017, No. 17-08

Real Rates and Consumption Smoothing in a Low Interest Rate Environment: The Case of Japan

Jonathon Lecznar and Thomas A. Lubik

May 2017, No. 17-07

An Estimated Structural Model of Entrepreneurial Behavior

John Bailey Jones and Sangeeta Pratap

April 2017, No. 17-06

A Tractable Model of Monetary Exchange with Ex-Post Heterogeneity

Guillaume Rocheteau, Pierre-Olivier Weill and Russell Wong

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Katrina Mullen