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Research Briefs·Jun 17, 2024

Inflation and Trading

Michael Weber, Philip Schnorpfeil, and Andreas Hackethal
Beliefs about how inflation impacts asset returns vary widely across investors, who are often overly optimistic. Information about past returns...
Topics: Monetary Policy
Research Briefs·Jun 12, 2024

Discount Factors and Monetary Policy: Evidence from Dual-Listed Stocks

Quentin Vandeweyer, Minghao Yang, and Constantine Yannelis
Surprise changes in US monetary policy rates directly affect asset prices, with a 100-basis point surprise cut resulting in a...
Topics: Monetary Policy
Interactive Research Briefs·May 14, 2024

Return to Office and the Tenure Distribution

Austin Wright, David Van Dijcke, and Florian Gunsilius
Return-to-office (RTO) mandates drive employees away from firms, with senior employees leaving at the highest rates, likely leading to significant...
Topics: COVID-19, Employment & Wages
Research Briefs·Apr 16, 2024

Sticky Discount Rates

Masao Fukui, Niels Gormsen, and Kilian Huber
Firms often keep their nominal discount rates constant even in the face of changing inflation expectations. Increases in expected inflation...
Topics: Monetary Policy
Research Briefs·Apr 11, 2024

On Digital Currencies

Harald Uhlig
In a work summarizing his previous research, the author argues that prices of private digital currencies follow random walks, while...
Topics: Monetary Policy
Research Briefs·Apr 3, 2024

The High Frequency Effects of Dollar Swap Lines

Rohan Kekre and Moritz Lenel
News about expanded dollar swap lines causes a reduction in liquidity premia, compression of deviations from covered interest parity (CIP),...
Topics: Monetary Policy
Research Briefs·Mar 20, 2024

Do Information Frictions and Corruption Perceptions Kill Competition? A Field Experiment on Public Procurement in Uganda

Emanuele Colonnelli, Francesco Loiacono, Edwin Muhumuza, and Edoardo Teso
Informing companies about opportunities to sell to the government does not increase their participation in public procurement, but enhancing their...
Topics: Monetary Policy
Podcast Mar 19, 2024

Knowing When to Stop: The Unintended Consequences of Monetary Policy

Tess Vigeland and Raghuram Rajan
This episode of The Pie features a panel discussion following a talk from Raghuram Rajan, the Katherine Dusak Miller Distinguished...
Topics: Monetary Policy
Research Briefs·Mar 7, 2024

What Drives Inflation? Lessons from Disaggregated Price Data

Elisa Rubbo
US inflation in the early phases of the COVID pandemic was entirely driven by disruptions in supply and demand across...
Topics: COVID-19, Monetary Policy