We examine the implications of time variation in the correlation between the equity premium and nondurable consumption growth for equity return dynamics in G-7 countries. Using a VAR-GARCH (1,1) model, we find that the correlation increases with recession indicators such as above-average...

Remarks at the New York Bankers Association Financial Services Forum, New York City.

Remarks at 2010 CFA Institute Fixed Income Management Conference, Newport Beach, California.

Remarks at the National Association for Business Economics Policy Conference, Arlington, Virginia

Joint written testimony before the Congressional Oversight Panel, Washington, D.C.

Remarks at Global Interdependence Center Central Banking Series Event, Federal Reserve Bank of Philadelphia.

Remarks by Brian P. Sack before the Money Marketeers of New York University, New York City.