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Risk is a many splendored thing: lessons learned

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2007

Remarks to the Austin Mortgage Bankers Association, Austin, Texas, April 4, 2007 ; "The elimination of risk can never be the goal of any type of policymaker in a capitalist system. Risk becomes a problem only when it is excessive or when it is abused--a proposition that is especially true in...

Persistent link: https://www.econbiz.de/10010723095

Churchill, Baruch, Lindsay Lohan, Congress and the Fed

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2011

Remarks at the Institute of International Bankers Annual Washington Conference, Washington, D.C., March 7, 2011 ; "I argued against the $600 billion extension [buying U.S. Treasuries] the voters on the FOMC approved last November. And I remain doubtful enough as to its efficacy that if at any...

Persistent link: https://www.econbiz.de/10010726004

The real exchange rate in sticky price models: does investment matter?

Martinez-Garcia, Enrique; Søndergaard, Jens - Federal Reserve Bank of Dallas - 2008

This paper re-examines the ability of sticky-price models to generate volatile and persistent real exchange rates. We use a DSGE framework with pricing-to-market akin to those in Chari, et al. (2002) and Steinsson (2008) to illustrate the link between real exchange rate dynamics and what the...

Persistent link: https://www.econbiz.de/10005367958

Technical note on "The real exchange rate in sticky price models: does investment matter?"

Martinez-Garcia, Enrique; Søndergaard, Jens - Federal Reserve Bank of Dallas - 2008

This technical note is developed as a mathematical companion to the paper "The Real Exchange Rate in Sticky Price Models: Does Investment Matter?" (Institute working paper no. 17). It contains three basic calculations. First, we derive the equilibrium conditions of the model. Second, we compute...

Persistent link: https://www.econbiz.de/10005367963

Building a regional forecasting model utilizing long-term relationships and short-term indicators

Phillips, Keith R.; Chang, Chih-Ping - Federal Reserve Bank of Dallas - 1995

Persistent link: https://www.econbiz.de/10005346051

The dynamics of economics functions: modelling and forecasting the yield curve

Bowsher, Clive G.; Meeks, Roland - Federal Reserve Bank of Dallas - 2008

and forecasting time series of economic functions. The underlying, continuous economic function (or "signal") is a natural … its dynamics as the cross-sectional dimension N becomes large, and can feasibly be estimated and used for forecasting when … forecasting 36-dimensional yield curves for US Treasury bonds at the one month ahead horizon. The method consistently outperforms …

Persistent link: https://www.econbiz.de/10005346105

Indeterminacy and forecastability

Fujiwara, Ippei; Hirose, Yasuo - Federal Reserve Bank of Dallas - 2011

Recent studies document the deteriorating performance of forecasting models during the Great Moderation. This …

Persistent link: https://www.econbiz.de/10009321088

A real-time historical database for the OECD

Fernandez, Adriana Z.; Koenig, Evan F.; … - Federal Reserve Bank of Dallas - 2011

Ongoing economic globalization makes real-time international data increasingly relevant, though little work has been done on collecting and analyzing real-time data for economies other than the U.S. In this paper, we introduce and examine a new international real-time dataset assembled from...

Persistent link: https://www.econbiz.de/10009366928

PCE inflation and core inflation

Smith, Julie K. - Federal Reserve Bank of Dallas - 2012

This paper investigates the forecasting accuracy of the trimmed mean inflation rate of the Personal Consumption … Expenditure (PCE) deflator. Earlier works have examined the forecasting ability of limited-influence estimators (trimmed means and …

Persistent link: https://www.econbiz.de/10010554999

Introductory remarks to the Price Measurement for Monetary Policy Conference

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2007

Remarks given to a conference organized by the Federal Reserve Banks of Dallas and Cleveland, Dallas, Texas, May 24, 2007 ; "One of our main criticisms here at the Dallas Fed of much of the core inflation literature is that it lacks theoretical coherence. It reminds me of the time-honored saying...

Persistent link: https://www.econbiz.de/10010726020