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Monetary Policy Uncertainty: A Tale of Two Tails
(Private Enterprise Research Center, Texas A&M University, 2018-11-12)
During the last few decades, central banks across the globe came to recognize the potentially valuable role that transparency can play in stabilizing the economy. For example, the Federal Reserve in the US started releasing ...
State Dependence of Monetary Policy Across Business, Credit and Interest Rate Cycles
(Private Enterprise Research Center, Texas A&M University, 2020-04-28)
In this paper, PERC Professor Sarah Zubairy, along with co-authors Sami Alpanda and Eleonora Granziera study how phases of the business, credit and interest rate cycles affect the transmission of monetary policy using ...
Household Debt and the Effects of Fiscal Policy
(Private Enterprise Research Center, Texas A&M University, 2021-11-02)
This paper examines how the effects of government spending shocks depend on the balance-sheet position of households. Employing U.S. household survey data, the authors find that in response to a positive government spending ...
Homeownership and Housing Transitions: Explaining the Demographic Composition
(Private Enterprise Research Center, Texas A&M University, 2019-06-03)
The homeownership rate was relatively stable for the few decades preceding 1995, followed by a large increase between 1995-2005 and a subsequent decline over the next ten years. Authors Eunseong Ma and Sarah Zubairy document ...
The Great Recession and Charitable Giving
(Private Enterprise Research Center, Texas A&M University, 2017-03-01)
The authors examine the impact of the Great Recession on charitable giving. Using the Panel Study of Income Dynamics, the authors estimate a variety of specifications and find sharp declines in overall don-ative behavior ...
Optimality of Winner-Take-All Contests: The Role of Attitudes Toward Risk
(Private Enterprise Research Center, Texas A&M University, 2019-12-16)
It has been established in the literature that, under the assumption of risk-neutral contestants, it is usually optimal for an effort maximizing contest organizer with a fixed prize budget to award everything to a single ...
The Effect of Own-Gender Juries on Conviction Rates
(Private Enterprise Research Center, Texas A&M University, 2018-07-11)
The right to an impartial jury is the cornerstone of the U.S. justice system and is enshrined in the Bill of Rights, but are these juries truly impartial, or do they favor defendants who are similar to themselves? In PERC ...
Illegal Immigration: The Trump Effect
(Private Enterprise Research Center, Texas A&M University, 2021-06-03)
Recent years have witnessed the emergence of increasingly provocative anti-immigrant politicians in both Europe and the United States. The authors examine whether the 2016 election of Donald Trump, who made illegal immigration ...
Schools, Neighborhoods, and the Long-Run Effect of Crime-Prone Peers
(Private Enterprise Research Center, Texas A&M University, 2019-08-20)
There is a large and growing literature on how childhood peers shape outcomes. However, within this literature little is known about the effects of the different neighborhood factors, such as the relative importance of ...
Inflation Dynamics and the Cost Channel: The Small Open Economy Case
(Private Enterprise Research Center, Texas A&M University, 2014-05-19)
This paper investigates the cost channel of monetary policy, transmitting its effect on economic activities other than conventional demand side, in a small open economy. The innovations lie in examination of the cost ...