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Crises in the Housing Market: Causes, Consequences, and Policy Lessons  

Carlos Garriga and Aaron Hedlund

The global financial crisis of 2007–2009 helped usher in a stronger consensus about the central role that housing plays in shaping economic activity, particularly during large boom and ... More

The Effects of Monetary Policy Announcements  

Chao Gu, Han Han, and Randall Wright

The effects of news (i.e., information innovations) are studied in dynamic general equilibrium models where liquidity matters. As a leading example, news can be announcements about ... More

The Evolution of Forecast Density Combinations in Economics  

Knut Are Aastveit, James Mitchell, Francesco Ravazzolo, and Herman K. van Dijk

Increasingly, professional forecasters and academic researchers in economics present model-based and subjective or judgment-based forecasts that are accompanied by some measure of ... More

Exchange Rates, Interest Parity, and the Carry Trade  

Craig Burnside

Online publication date:
Aug 2019
The uncovered interest parity (UIP) condition states that the interest rate differential between two currencies is the expected rate of change of their exchange rate. Empirically, however, ... More

International Reserves, Exchange Rates, and Monetary Policy: From the Trilemma to the Quadrilemma  

Joshua Aizenman

The links of international reserves, exchange rates, and monetary policy can be understood through the lens of a modern incarnation of the “impossible trinity” (aka the “trilemma”), based ... More

Long Memory Models  

Peter Robinson

Long memory models are statistical models that describe strong correlation or dependence across time series data. This kind of phenomenon is often referred to as “long memory” or ... More

Microinsurance and Rural Health  

Syed Abdul Hamid

Online publication date:
Apr 2019
Health microinsurance (HMI) has been used around the globe since the early 1990s for financial risk protection against health shocks in poverty-stricken rural populations in low-income ... More

Microstructure of Foreign Exchange Markets  

Martin D. D. Evans and Dagfinn Rime

Online publication date:
Jul 2019
An overview of research on the microstructure of foreign exchange (FX) markets is presented. We begin by summarizing the institutional features of FX trading and describe how they have ... More

New Monetarist Economics  

Chao Gu, Han Han, and Randall Wright

Online publication date:
May 2019
This article provides an introduction to New Monetarist Economics. This branch of macro and monetary theory emphasizes imperfect commitment, information problems, and sometimes spatial ... More

Optimum Currency Areas Past and Future  

Barry Eichengreen

Online publication date:
Jun 2018
The literature on optimum currency areas differs from that on other topics in economic theory in a number of notable respects. Most obviously, the theory is framed in verbal rather than ... More

Predictive Regressions  

Jesús Gonzalo and Jean-Yves Pitarakis

This is an advance summary of a forthcoming article in the Oxford Research Encyclopedia of Economics and Finance. Please check back later for the full article. ... More

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