Working Papers

The Yield Curve as a Leading Indicator
Current data and references

Extracting Business Cycle Fluctuations: What Do Time Series Filters Really Do?
Federal Reserve Bank of New York Staff Report, No. 289, June 2007

Generalized Canonical Regression
Federal Reserve Bank of New York Staff Report, No. 288, June 2007

A Parsimonious Solution to the Price Puzzle
May 2006

Financial Dependence and Economic Growth in Puerto Rico 
July 2005

One-Sided Test for an Unknown Breakpoint: Theory, Computation, and Application to Monetary Policy 
With Anthony P. Rodrigues
June 2005

Banks and Monetary Transmission in the Current US Environment 
Presented at SUERF Conference, Madrid, October 2004

Decoding Productivity: Business Cycle Properties of Labor Productivity Growth 
Presented at NBER Summer Institute, Cambridge, MA, July 2004

Costs and Benefits of Mandatory Subordinated Debt Regulation for Banks 
October 2000
23 pages / 64 kb

Consistent Covariance Matrix Estimation in Probit Models with Autocorrelated Errors
With A. Rodrigues
Federal Reserve Bank of New York Staff Report Number 39, April 1998

Aggregate Supply and Demand Shocks: A Natural Rate Approach
Federal Reserve Bank of New York Research Paper Number 9739, December 1997

Arturo Estrella's CV

The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.