We document that business cycles of U.S. Census regions are substantially more synchronized than those of European Union countries, both over the past four decades and the past two decades. Data from regions within the four largest European countries confirm the presence of a European border...

This paper examines the responses of prices at different stages of production to an explicitly identified demand shock: a monetary policy shock. The frameworks of Christiano, Eichenbaum, and Evans (1994, 1996) and Sims and Zha (1995b) are used to identify the policy shock as the innovation to...

This paper reviews the evidence on the sources of business cycles within and across countries and the implications for the importance of borders in business cycles. A simple econometric model is presented and applied to within-U.S. and cross-country data in order to provide a framework for...

Remarks at the University of Chicago Booth School of Business Annual U.S. Monetary Policy Forum, New York City.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks hosted by the Institute of Regulation & Risk North Asia, Hong Kong

Remarks at the IIF Annual Meeting of Latin America Chief Executives, Santiago, Chile.

Remarks by President Dudley at the Foreign Policy Association Corporate Dinner, New York City.

Remarks at The Economic Club of New York, New York City.

Remarks at the Thirty-Seventh Annual Jackson Hole Symposium, Jackson Hole, Wyoming.