Research by three San Francisco Fed economists made the most cited list for the Journal of Monetary Economics among articles published since 2016:
“Uncertainty Shocks Are Aggregate Demand Shocks” by Sylvain Leduc and Zheng Liu
“Credit Frictions and Optimal Monetary Policy” by Vasco Cúrdia and Michael Woodford
“Land Prices and Unemployment” by Zheng Liu, Jianjun Miao, and Tao Zha
The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.