This paper analyzes an empirical puzzle regarding the effect of monetary policy on fixed investment, specifically, why residential investment exhibits a strong and rapid response to changes in monetary policy while structures investment manifests a substantially weaker response. The paper...

This Economic Letter describes an array of financial instruments that are suitable for extracting expectations about monetary policy, compares their forecasting power, and discusses some technical considerations in using them to forecast monetary policy.

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

We provide firm-level evidence that Federal Open Market Committee announcements have real effects by changing expectations of firm profitability. We use an existing decomposition of a monetary policy shock into a central bank information component (CBI) and a conventional monetary component...