In the News
Global housing prices: there are always bigger bubbles taken from Ft.com Blog by Simone Baribeau February 9
An economic letter put out by the Federal Reserve Bank of San Francisco today put the US housing run-up in perspective. In a cross-country comparison they found that home prices in the US rose less than those in a whole swath of European countries.
» Read more in Global Household Leverage, House Prices, and Consumption
FRBSF Economic Letter 2010-01 Glick Lansing
Fed's Yellen: Low U.S. rates stimulatory for China taken from Reuters February 8
The U.S. Federal Reserve's ultra-easy monetary policy is fueling concerns in Hong Kong and China over asset bubbles and prospects for dollar weakness, which could hurt their dollar-denominated investments, a top Federal Reserve official said on Monday. China, however, could adjust its exchange rate to allay inflationary worries, San Francisco Fed President Janet Yellen said in an Economic Letter.
» Read more in Hong Kong and China and the Global Recession
FRBSF Economic Letter 2010-04 Yellen
Fed Policy and Mortgage Choice taken from Economist's View Blog February 2
The Fed has been purchasing mortgage backed securities, but only those containing fixed interest rate mortgages. Mortgages with variable interest rates have not been part of the Fed's mortgage backed security purchase program. Coinciding with this, and probably caused by the Fed's intervention, has been a change in the composition of mortgage purchases by households toward fixed rate loans.
» Read more in Mortgage Choice and the Pricing of Fixed-Rate and
Adjustable-Rate Mortgages
FRBSF Economic Letter 2010-03 Krainer
Working Papers
» More Working Papers
Macro-Finance Models of Interest Rates and the Economy Working paper 2010-01
During the past decade, much new research has combined elements of finance, monetary economics, and macroeconomics in order to study the relationship between the term structure of interest rates and the economy. In this survey, I describe three different strands of such interdisciplinary macro-finance term structure research.
Rudebusch January 2010
Upcoming Seminars
Micro Seminar
Justin McCrary UC Berkeley The Deterrence Effect of Prison: Dynamic Theory and Evidence February 10
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Macro Brown Bag
Eric Swanson FRBSF February 18
International Seminar
Ina Simonovska UC Davis February 25
Applied Micro Seminar
Carol Graham Maryland and Brookings February 26