Our economists engage in a variety of innovative research projects. Here are just a few examples:

• Adam Ashcraft—Empirical research on the monetary policy transmission mechanism, the market’s ability to discipline banks, and the impact of credit derivatives on financial volatility and the credit supply.

• Arturo Estrella—Research on the cyclical behavior of labor productivity growth, using frequency domain techniques.
  
  
• Todd Keister—Theoretical research on bank runs and financial crises; research on money, banking, and the implementation of monetary policy.
  
  
• Donghoon Lee—Empirical research on the evolution of labor market dynamics, income inequality, and simulation-based methods of estimation.
  
  
• Antoine Martin—Theoretical research on money, banking, and payments, including currency competition, redistributive aspects of monetary policy, and central bank intraday credit policies.
  
  
• Donald Morgan—Theoretical and empirical research aimed at defining and detecting predatory lending by banks.
  
  
• Paolo Pesenti—Open-economy simulation models for policy analysis; productivity, product varieties, and net exports; protectionism and current account adjustment.
  
  
• Robert Rich and Joseph Tracy—Empirical research using survey data on inflation expectations to examine the relationship between forecast accuracy, forecast dispersion, and forecast uncertainty.
  
  
• Joshua Rosenberg—Research on risk management when risks are skewed and fat-tailed; research on asset pricing and hedging when volatility is stochastic.
  
  
• João Santos—Theoretical research on the determinants of systemic risk in the banking sector and on the design of regulation to account for systemic risk; empirical research on the implications of mixing banking and commerce in the United States.
  
  
• Andrea Tambalotti—The use of dynamic stochastic general equilibrium models to identify fluctuations in potential output and the natural rate of interest.
  
  
• Wilbert van der Klaauw—Empirical research on the effect of social security reform on savings and retirement behavior, welfare reform, family structure dynamics, and child development.
  
  
• Tanju Yorulmazer—Theoretical research on banking and financial stability, including liquidity, various channels of systemic risk, and financial crises and their resolution.

To learn more about joining the Research Group: www.newyorkfed.org/careers/phd.html.

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