Working Paper
Doves for the Rich, Hawks for the Poor? Distributional Consequences of Systematic Monetary Policy
WP 12-21/R – We build a New Keynesian business-cycle model with rich household heterogeneity.
Featured Work
Report
Monetary Policy Report: Using Rules for Benchmarking, September 2021
This special report highlights ongoing work to benchmark the stance of monetary policy using a range of policy rules that are widely employed in studies of monetary economics.
Article
The Graying of Household Debt in the U.S.
Economic Insights — Thanks to an aging population, continuously falling interest rates, and the Great Recession, more debt is held by older Americans today than ever before.
Working Paper
Measuring Disagreement in Probabilistic and Density Forecasts
WP 21-03 – In this paper, we introduce and study a class of disagreement measures for probability distribution forecasts based on the Wasserstein metric.