E3 - Prices, Business Fluctuations, and Cycles

• Changes in the Effects of Monetary Policy on Disaggregate Price Dynamics

  Staff Working Paper 2012-13 Christiane Baumeister, Philip Liu, Haroon Mumtaz

  We examine the evolution of the effects of monetary policy shocks on the distribution of disaggregate prices and quantities of personal consumption expenditures to assess the contribution of monetary policy to changes in U.S. inflation dynamics.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Monetary policy transmission JEL Code(s): E, E3, E30, E32

• House Price Dynamics: Fundamentals and Expectations

  Staff Working Paper 2012-12 Eleonora Granziera, Sharon Kozicki

  We investigate whether expectations that are not fully rational have the potential to explain the evolution of house prices and the price-to-rent ratio in the United States.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Domestic demand and components, Economic models JEL Code(s): E, E3, E6, E65, R, R2, R21