Latest Research

Are American Homeowners Locked into Their Houses? The Impact of Housing Market Conditions on State-to-State Migration
by Alicia Sasser Modestino and Julia Dennett
Working Paper No. 12-1

Inflation Dynamics When Inflation is Near Zero
by Jeffrey C. Fuhrer, Giovanni P. Olivei, and Geoffrey M. B. Tootell
Working Paper No. 11-17

The Great Recession and Bank Lending to Small Businesses
by Judit Montoriol-Garriga and J. Christina Wang
Working Paper No. 11-16

Account-to-Account Electronic Money Transfers: Recent Developments in the United States
by Oz Shy
Public Policy Discussion Paper No. 11-10

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process
by Kristopher Gerardi, Lauren Lambie‐Hanson, and Paul S. Willen
Public Policy Discussion Paper No. 11-9

Games with Synergistic Preferences
by Julian C. Jamison
Working Paper No. 11-15

Managing Self-Confidence: Theory and Experimental Evidence
by Markus M. Möbius, Muriel Niederle, Paul Niehaus, and Tanya S. Rosenblat
Working Paper No. 11-14

Core Competencies, Matching, and the Structure of Foreign Direct Investment
by Federico J. Díez and Alan C. Spearot
Working Paper No. 11-13

A More Equitable Approach to Cutting State Aid
by Bo Zhao and David Coyne
NEPPC Policy Brief No 11-2

Further Investigations into the Origin of Credit Score Cutoff Rules
by Ryan Bubb and Alex Kaufman
Working Paper No. 11-12

Economic Literacy and Inflation Expectations: Evidence from a Laboratory Experiment
by Mary A. Burke and Michael Manz
Public Policy Discussion Paper No. 11-8

The Role of Expectations in U.S. Inflation Dynamics
by Jeffrey C. Fuhrer
Working Paper No. 11-11

Inflation Expectations and the Evolution of U.S. Inflation
by Jeffrey C. Fuhrer
Public Policy Brief No. 11-4

Trends in U.S. Family Income Mobility, 1969–2006
by Katharine Bradbury
Working Paper No. 11-10

Quantifying the Role of Federal and State Taxes in Mitigating Income Inequality
by Daniel H. Cooper, Byron F. Lutz, and Michael G. Palumbo
Public Policy Discussion Paper No. 11-7

State Foreclosure Prevention Efforts: Mediation and Financial Assistance
by Robert Clifford
NEPPC Research Report No. 11-3

Potential Effects of an Increase in Debit Card Fees
by Joanna Stavins
Public Policy Brief No. 11-3

Securitization and Moral Hazard: Evidence from Credit Score Cutoff Rules
by Ryan Bubb and Alex Kaufman
Public Policy Discussion Paper No. 11-6

Classroom Peer Effects and Student Achievement
by Mary A. Burke and Tim R. Sass
Public Policy Discussion Paper No. 11-5

Trade Adjustment and Productivity in Large Crises
by Gita Gopinath and Brent Neiman
Working Paper No. 11-9

Childhood Lead and Academic Performance in Massachusetts
by Jessica W. Reyes
NEPPC Working Paper No. 11-3

Designing Formulas for Distributing Reductions in State Aid
by Bo Zhao and David Coyne
NEPPC Working Paper No. 11-2

Research Review
Overview of recent research by economists of the Research Department
Issue Number 15

On the Distribution of College Dropouts: Household Wealth and Uninsurable Idiosyncratic Risk
by Ali K. Ozdagli and Nicholas Trachter
Working Paper No. 11-8

Customer Recognition and Competition
by Oz Shy and Rune Stenbacka
Working Paper No. 11-7

An Economic Analysis of the 2010 Proposed Settlement between the Department of Justice and Credit Card Networks
by Scott Schuh, Oz Shy, Joanna Stavins, and Robert Triest
Public Policy Discussion Paper No. 11-4

House Price Growth When Kids are Teenagers: A Path to Higher Intergenerational Achievement?
by Daniel Cooper and María José Luengo-Prado
Working Paper No. 11-6

Self-Employment in the Global Economy
by Federico J. Díez and Ali K. Ozdagli
Working Paper No. 11-5

Municipal Aid Evaluation and Reform
by Bo Zhao
NEPPC Working Paper No. 11-1

A Response to Cogley and Sbordone's Comment on "Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation"
by Fabià Gumbau-Brisa, Denny Lie, and Giovanni P. Olivei

Estimation of Forward-Looking Relationships in Closed Form: An Application to the New Keynesian Phillips Curve
by Michelle L. Barnes, Fabià Gumbau-Brisa, Denny Lie, and Giovanni P. Olivei

Oil and the Macroeconomy in a Changing World: A Conference Summary
by Christopher L. Foote and Jane S. Little

Explaining Gender-Specific Racial Differences in Obesity Using Biased Self-Reports of Food Intake and Physical Activity
by Mary A. Burke and Frank W. Heiland

The Bank of North Dakota: A Model for Massachusetts and Other States?
by Yolanda K. Kodrzycki and Tal Elmatad

Adopting, Using, and Discarding Paper and Electronic Payment Instruments: Variation by Age and Race
by Ronald J. Mann

The Estimated Macroeconomic Effects of the Federal Reserve's Large-Scale Treasury Purchase Program
by Jeffrey C. Fuhrer and Giovanni P. Olivei

Do Commodity Price Spikes Cause Long-Term Inflation?
by Geoffrey M.B. Tootell

The Middle-Skills Gap: Ensuring an Adequate Supply of Skilled Labor in Northern and Southern New England
by Julia Dennett and Alicia Sasser Modestino

The 2009 Survey of Consumer Payment Choice
by Kevin Foster, Erik Meijer, Scott Schuh, and Michael A. Zabek

How Does New Hampshire Do It? An Analysis of Spending and Revenues in the Absence of a Broad-based Income or Sales Tax
by Jennifer Weiner

Real Output of Bank Services: What Counts Is What Banks Do, Not What They Own
by Robert Inklaar and J. Christina Wang

Reforming Municipal Aid in Massachusetts: The Case for a Gap-Based Formula
by Bo Zhao and David Coyne

The Financial Structure of Startup Firms: The Role of Assets, Information, and Entrepreneur Characteristics
by Paroma Sanyal and Catherine L. Mann

Affective Decision Making: A Theory of Optimism Bias
by Anat Bracha and Donald J. Brown

Internal Sources of Finance and the Great Recession
by Michelle L. Barnes and N. Aaron Pancost

Characterizing the Amount and Speed of Discounting Procedures
by Dean T. Jamison and Julian C. Jamison

The Distress Premium Puzzle
by Ali K. Ozdagli