New Research
Alvarez and Atekson: The Risk of Becoming Risk Averse: A Model of Asset Pricing and Trade Volumes
The Risk of Becoming Risk Averse: A Model of Asset Pricing and Trade Volumes Fernando Alvarez Andy Atkeson, Consultant December 2018 | Federal Reserve Bank of Minneapolis Staff Report 577 We develop a new general equilibrium model of asset...
read moreChari: The Role of Uncertainty and Risk in Climate Change Economics
The Role of Uncertainty and Risk in Climate Change Economics V. V. Chari, Consultant December 2018 | Federal Reserve Bank of Minneapolis Staff Report 576 This chapter is an introductory essay to the volume Climate Change Economics: The Role of...
read moreAyres, Garcia, Guillen, Kehoe: The Monetary and Fiscal History of Brazil, 1960-2016
The Monetary and Fiscal History of Brazil, 1960-2016 Joao Ayres Marcio Garcia Diogo Guillen Patrick J. Kehoe, Consultant December 2018 | Federal Reserve Bank of Minneapolis Staff Report 575 Brazil has had a long period of high inflation. It...
read moreHur, Kondo, Perri: Real Interest Rates, Inflation, and Default
Real Interest Rates, Inflation, and Default Sewon Hur Illenin O. Kondo Fabrizio Perri, Assistant Director and Monetary Advisor December 2018 | Federal Reserve Bank of Minneapolis Staff Report 574 This paper argues that the comovement between...
read moreBianchi and Mondragon: Monetary Independence and Rollover Crises
Monetary Independence and Rollover Crises Javier Bianchi, Senior Research Economist Jorge Mondragon December 2018 | Federal Reserve Bank of Minneapolis Working Paper 755 This paper shows that the inability to use monetary policy for...
read moreAkteson, Burstein and Chatzikonstantinou: Transitional Dynamics in Aggregate Models in Innovative Investment
Transitional Dynamics in Aggregate Models in Innovative Investment Andrew Atkeson, Consultant Arial Burstein, UCLA Manolis Chatzikonstantinou, UCLA November 2018 | Federal Reserve Bank of Minneapolis Staff Report 573 What quantitative lessons...
read moreFogli and Veldkamp: Germs, Social Networks, and Growth
Germs, Social Networks, and Growth Alessandra Fogli, Assistant Director of Inequality Research and Monetary Advisor Laura Veldkamp, Columbia Graduate School of Business November 2018 | Federal Reserve Bank of Minneapolis Staff Report 572 Does...
read moreStaff Report 571: Optimal Capital Taxation Revisited
Optimal Capital Taxation Revisited V. V. Chari, Consultant Juan Pablo Nicolini, Senior Research Economist Pedro Teles September 2018 | Federal Reserve Bank of Minneapolis Staff Report 571 We revisit the question of how capital should be taxed....
read moreBengui and Bianchi: Macroprudential Policy with Leakages
Macroprudential Policy with Leakages Julien Bengui Javier Bianchi, Senior Research Economist September 2018 | Federal Reserve Bank of Minneapolis Working Paper 754 The outreach of macroprudential policies is likely limited in practice by...
read moreAi and Bhandari: Asset Pricing with Endogenously Uninsurable Tail Risk
Asset Pricing with Endogenously Uninsurable Tail Risk Hengjie Ai Anmol Bhandari, Visiting Scholar August 2018 | Federal Reserve Bank of Minneapolis Staff Report 570 This paper studies asset pricing in a setting in which idiosyncratic risk in...
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