In a forum at the American Economic Association's annual meeting in Philadelphia, Federal Reserve Bank of Boston President Eric Rosengren noted the diversity of views that flourish within the Federal Reserve. He spoke alongside fellow Reserve Bank Presidents from the New York, Minneapolis, and...

Federal Reserve Bank of Boston President Eric Rosengren tempered the recent news on improving economic growth and declining unemployment in a speech at the New College of Florida.

Models of money demand, in the Baumol (1952)-Tobin (1956) tradition, describe optimal cash management policy in terms of when and how much cash to withdraw, an (s, S) policy. However, today, a vast array of instruments can be used to make payments, opening additional ways to control cash...

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Conference on the Risks of Wholesale Funding sponsored by the Federal Reserve Banks of Boston and New York, New York, New York, August 13, 2014.

Credit limit variability is a crucial aspect of the consumption, savings, and debt decisions of households in the United States. Using a large panel, this paper first demonstrates that individuals gain and lose access to credit frequently and often have their credit limits reduced unexpectedly....

Recent evidence suggests that the use of prepaid cards is growing in the United States. The study of how prepaid cards fit into the existing payments market requires accurate data about the adoption of prepaid cards among consumers. This paper describes several experiments conducted by the...

This paper reveals and tests a new theoretical implication of the credit channel of monetary policy: as financial frictions (monitoring or auditing costs) increase, the reaction of stock prices to monetary policy shocks decreases. Correspondingly, towards the end of the Enron accounting scandal,...

We study the competitiveness of U.S. manufacturing. For the period 1999–2012 we find little support for a significant offshoring reversal. We show that the share of domestic demand that is met by imports and the terms of trade show no signs of reversal, even in sectors dominated by imports...

The spectacular rise late last year in the price of Bitcoin, the dominant virtual currency, has attracted much public attention as well as scholarly interest. This policy brief discusses how some features of Bitcoin, as designed and executed to date, have hampered its ability to perform the...

Conference address by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Federal Reserve Bank of Boston's 58th Economic Conference, Inequality of Economic Opportunity, Boston, Massachusetts, October 18, 2014.