Viacheslav.Sheremirov@bos.frb.org
Personal Website
Biography
Viacheslav Sheremirov is a principal economist in the Federal Reserve Bank of Boston Research Department. His research focuses on macroeconomic issues such as pricing, the effectiveness of monetary and fiscal policy, exchange-rate dynamics, and global imbalances. He is also interested in applied time-series analysis and macroeconomic history. His research has been presented in numerous invited seminars and at conferences organized by the National Bureau of Economic Research, the Econometric Society, the Royal Economic Society, and the Society for Economic Dynamics.
Sheremirov joined the Boston Fed in 2014, after earning his PhD in economics from the University of California, Berkeley. He holds a BA in economics from Odessa National Mechnikov University in Ukraine and an MA in economics from the Economics Education and Research Consortium at the National University "Kyiv-Mohyla Academy" in Ukraine.
Work Experience
Federal Reserve Bank of Boston
Principal Economist, 2025−
Senior Economist, 2019−2025
Economist, 2014−2019
University of California, Berkeley
Graduate student researcher and instructor, 2009−2014
Kyiv School of Economics, Ukraine
Teaching assistant, 2007−2008
GfK Ukraine
Junior researcher, 2007−2008
Education
PhD, Economics, University of California, Berkeley, 2014
MA, Economics (high honors), Economics Education and Research Consortium (EERC)
at the National University "Kyiv-Mohyla Academy," Ukraine, 2008
BA, Economics (honors), Odessa National Mechnikov University, Ukraine, 2006
Public Service
Conference Discussions
"The Inflation Expectations of Firms: What Do They Look Like, Are They Accurate, and Do They Matter?" by M. Bryan, B. Meyer, and N. Parker (FRS macro meeting; Los Angeles, CA, 2015)
Referee
Review of Economics and Statistics; Journal of Monetary Economics; Journal of Money, Credit and Banking; Journal of Development Economics; European Economic Review; Macroeconomic Dynamics; Economia Politica.
Primary fields of research
Macroeconomics, international finance
Publications
Refereed journal articles
“Inflation Expectations and Nonlinearities in the Phillips Curve,” with Alexander Doser, Ricardo Nunes, and Nikhil Rao. Forthcoming. Journal of Applied Econometrics. https://doi.org/10.1002/jae.2963
"The Transmission Mechanisms of International Business Cycles: International Trade and the Foreign Effects of U.S. Monetary Policy," with Falk Bräuning. 2023. IMF Economic Review 71: 300–325. https://doi.org/10.1057/s41308-022-00179-3
"Fiscal Multipliers in Advanced and Developing Countries: Evidence from Military Spending," with Sandra Spirovska. 2022. Journal of Public Economics 208: 104631. https://doi.org/10.1016/j.jpubeco.2022.104631
"Price Dispersion and Inflation: New Facts and Theoretical Implications." 2020. Journal of Monetary Economics 114: 59–70. https://doi.org/10.1016/j.jmoneco.2019.03.007
“The Effects of Government Spending on Real Exchange Rates: Evidence from Military Spending Panel Data,” with Wataru Miyamoto and Thuy Lan Nguyen. 2019. Journal of International Economics 116: 144–157. Previously issued as Federal Reserve Bank of Boston Research Department Working Papers No. 16-14.
“Price Setting in Online Markets: Does IT Click?” with Yuriy Gorodnichenko and Oleksandr Talavera. 2018. Journal of the European Economic Association 16(6): 1764–1811. Previously issued as Federal Reserve Bank of Boston Research Department Working Papers No. 15-1 and as National Bureau of Economic Research Working Paper No. 20819.
“Sectoral Inflation and the Phillips Curve: What Has Changed since the Great Recession?” with María José Luengo-Prado and Nikhil Rao. 2018. Economics Letters 172: 63–68. A longer version previously issued as Federal Reserve Bank of Boston Current Policy Perspectives No. 17-5.
“The Responses of Internet Retail Prices to Aggregate Shocks: A High-Frequency Approach,” with Yuriy Gorodnichenko and Oleksandr Talavera. 2018. Economics Letters 164: 124–127.
Working papers
“Parsing Out the Sources of Inflation,” with Danilo Leiva-León, Jenny Tang, and Egon Zakrajšek. 2025. Federal Reserve Bank of Boston Current Policy Perspectives 25-5.
“The Aggregate Effects of Sectoral Shocks in an Open Economy,” with Philippe Andrade and Martin Arazi. 2023. Federal Reserve Bank of Boston Research Department Working Papers No. 23-13. https://doi.org/10.29412/res.wp.2023.13
“The Distribution of Sectoral Price Changes and Recent Inflation Developments,” with Christopher D. Cotton, Vaishali Garga, and Giovanni P. Olivei. 2023. Federal Reserve Bank of Boston Current Policy Perspectives, August 30, 2023.
“The Historical Effects of Banking Distress on Economic Activity,” with Falk Bräuning. 2023. Federal Reserve Bank of Boston Current Policy Perspectives. May 25, 2023.
“Are the Demand and Supply Channels of Inflation Persistent? Evidence from a Novel Decomposition of PCE Inflation.” 2022. Federal Reserve Bank of Boston Current Policy Perspectives. November 7, 2022.
“Do Multisectoral New Keynesian Models Match Sectoral Data?” with Philippe Andrade. 2022. Federal Reserve Bank of Boston Research Department Working Papers No. 22-14. https://doi.org/10.29412/res.wp.2022.14
“The Transmission Mechanisms of International Business Cycles: Output Spillovers through Trade and Financial Linkages,” with Falk Bräuning. 2021. Federal Reserve Bank of Boston Research Department Working Papers No. 21-13. https://doi.org/10.29412/res.wp.2021.13
“The Drivers of Inflation Dynamics during the Pandemic: (Early) Evidence from Disaggregated Consumption Data.” 2021. Federal Reserve Bank of Boston Current Policy Perspectives. June 23, 2021.
“Output Spillovers from U.S. Monetary Policy: The Role of International Trade and Financial Linkages” with Falk Bräuning. 2019. Federal Reserve Bank of Boston Research Department Working Papers No. 19-15.
“Fiscal Multipliers in Advanced and Developing Countries: Evidence from Military Spending,” with Sandra Spirovska. 2019. Federal Reserve Bank of Boston Research Department Working Papers No. 19-3. An earlier version was issued as FRB Boston Working Papers No. 15-9.
“Inflation Expectations and Nonlinearities in the Phillips Curve,” with Alexander Doser, Ricardo Nunes, and Nikhil Rao. 2017. Federal Reserve Bank of Boston Research Department Working Papers No. 17-11.