Research Department
As part of the nation’s central bank, the Federal Reserve Bank of Boston promotes price stability and sustainable growth in the nation and the New England region. In support of these functions, Research Department economists provide current economic analysis and policy advice to Federal Reserve decisionmakers. They also conduct innovative research on a wide range of economic, financial, and behavioral topics that aims to improve our understanding of the U.S. and global economies and to encourage better policy outcomes. Through presentations, publications, and advisory activities, they share their research and expertise with policymakers, fellow economists, and the public at large.
Latest Research
The Role of Proximity in Foreclosure Externalities: Evidence from Condominiums
by Lynn M. Fisher, Lauren Lambie-Hanson, and Paul S. Willen
Retaining Recent College Graduates in New England: An Update on Current Trends
by Alicia Sasser Modestino
Window Shopping
by Oz Shy
Research ReviewOverview of recent research by economists of the Research Department
Issue Number 18
When Does Delinquency Result in Neglect? Mortgage Distress and Property Maintenance
by Lauren Lambie-Hanson
Do Real-Time Okun’s Law Errors Predict GDP Data Revisions?
by Michelle L. Barnes, Fabià Gumbau-Brisa, and Giovanni P. Olivei
The Power of Sunspots: An Experimental Analysis
by Dietmar Fehr, Frank Heinemann, and Aniol Llorente-Saguer
The Quest for Cost-Efficient Local Government in New England: What Role for Regional Consolidation?
by Yolanda K. Kodrzycki
The Impact of Managed Care on the Gender Earnings Gap among Physicians
by Alicia Sasser Modestino
Payment Size, Negative Equity, and Mortgage Default
by Andreas Fuster and Paul S. Willen
Why Don’t Most Merchants Use Price Discounts to Steer Consumer Payment Choice?
by Tamás Briglevics and Oz Shy
Real Expectations: Replacing Rational Expectations with Survey Expectations in Dynamic Macro Models
by Jeff Fuhrer
Monetary Shocks and Stock Returns: Identification Through the Impossible Trinity
by Ali K. Ozdagli and Yifan Yu
Cyclical and Sectoral Transitions in the U.S. Housing Market
by Daniel Cooper and Rüdiger Bachmann
Predicting Health Behaviors with Economic Preferences and Perceived Control
by Lynn Conell-Price and Julian Jamison
Uncertainty Shocks in a Model of Effective Demand
by Susanto Basu and Brent Bundick
Labor-Market Polarization Over the Business Cycle
by Christopher L. Foote and Richard W. Ryan
A Psychological Perspective of Financial Panic
by Anat Bracha and Elke U. Weber
What Can We Learn by Disaggregating the Unemployment-Vacancy Relationship?
by Rand Ghayad and William Dickens
Who Gains and Who Loses from the 2011 Debit Card Interchange Fee Reform?
by Oz Shy
Explaining Adoption and Use of Payment Instruments by U.S. Consumers
by Sergei Koulayev, Marc Rysman, Scott Schuh, and Joanna Stavins
Nice to be on the A-List
by Yasushi Hamao, Kenji Kutsuna, and Joe Peek
Competitive Incentives: Working Harder or Working Smarter?
by Anat Bracha and Chaim Fershtman
Sovereign Default Risk and Uncertainty Premia
by Demian Pouzo and Ignacio Presno
Fiscal Devaluations
by Emmanuel Farhi, Gita Gopinath, and Oleg Itskhoki
Potential Effects of the Great Recession on the U.S. Labor Market
by William T. Dickens and Robert K. Triest
U.S. Household Deleveraging: What Do the Aggregate and Household-Level Data Tell Us?
by Daniel Cooper
Core Competencies, Matching, and the Structure of Foreign Direct Investment: An Update
by Federico J. Díez and Alan C. Spearot
Foreclosure Externalities: Some New Evidence
by Kristopher S. Gerardi, Eric Rosenblatt, Paul S. Willen, and Vincent W. Yao
Shifting Confidence in Homeownership: The Great Recession
by Anat Bracha and Julian C. Jamison
Measuring Household Spending and Payment Habits: The Role of
'Typical' and 'Specific' Time Frames in Survey Questions
by Marco Angrisani, Arie Kapteyn, and Scott Schuh
Relative Pay and Labor Supply
by Anat Bracha and Uri Gneezy
Selecting Public Goods Institutions: Who Likes to Punish and Reward?
by Michalis Drouvelis and Julian C. Jamison
The Supplemental Security Income Program and Welfare Reform
by Lucie Schmidt
Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis
by Christopher L. Foote, Kristopher S. Gerardi, and Paul S. Willen
Investment in Customer Recognition and Information Exchange
by Oz Shy and Rune Stenbacka
Long-Term Inequality and Mobility
by Katharine Bradbury
When the Tide Goes Out: Unemployment Insurance Trust Funds and the Great Recession, Lessons for and from New England
by Jennifer Weiner
Valuable Cheap Talk and Equilibrium Selection
by Julian C. Jamison
How Consumers Pay: Adoption and Use of Payments
by Scott Schuh and Joanna Stavins
Effects of Credit Scores on Consumer Payment Choice
by Fumiko Hayashi and Joanna Stavins
Are American Homeowners Locked into Their Houses? The Impact of Housing Market Conditions on State-to-State Migration
by Alicia Sasser Modestino and Julia Dennett
About the Research Department
Multimedia
Foreclosures, House-Price Changes, and Subprime Mortgages in Massachusetts
Unemployment Insurance Trust Funds and the Great Recession: Lessons for and from New England by Jennifer Weiner
Are American Homeowners Locked into Their Houses?
Will the Federal Reserve Be Able to Serve as Lender of Last Resort in the Next Financial Crisis?Panel Discussion
The Great RecessionVideo presentation by Chris Foote
U.S. Family Income Mobility and Inequality, 1994 to 2004Stay Connected
