E50

Joel P. Flynn · George Nikolakoudis · Karthik A. Sastry

Research Question Modern macroeconomic models of aggregate supply universally restrict firms to price-setting — committing to a price and supplying whatever quantity the market demands. Flynn, …

Felipe Del Canto · John Grigsby · Eric Qian · Conor Walsh

Layer 1 — Overview Research Question. The paper asks whether inflationary shocks are regressive, and demonstrates that the answer depends critically on the source of the shock. A single aggregate …

Fernando Alvarez · Katarína Borovičková · Robert Shimer

Layer 1 — Overview Research Question. This paper asks two related questions. First, can one develop a robust, distribution-free estimator for the discrete-time mixed proportional hazard (MPH) model of …

Wenhao Li · Ye Li

Crises have cleansing effects—low-quality firms face greater financial shortfalls and invest less than high-quality firms—but public credit support dampens these effects by reducing financing cost …

Carlos Arteta · Steven Kamin · Franz U. Ruch

Layer 1 — Overview Research Question This paper examines how the effects of rising U.S. interest rates on emerging market and developing economies (EMDEs) depend on the underlying source of the …

Thomas Drechsel

This paper combines a hand-collected archival data set of over 800 personal interactions between U.S. Presidents and Federal Reserve officials from 1933 to 2016 with a narrative structural VAR to …