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Climate Policy Curves: Linking Policy Choices to Climate Outcomes
The extent of future climate change is a policy choice. Using an integrated climate-economy assessment model, we estimate climate …
Martin C. Hänsel, Michael D. Bauer, Moritz A. Drupp, Gernot Wagner, Glenn D. Rudebusch
PDF CEPR Discussion Paper
Interest Rate Skewness and Biased Beliefs
The conditional skewness of Treasury yields is an important indicator of the risks to the macroeconomic outlook. Positive skewness …
Michael D. Bauer, Mikhail Chernov
PDF NBER Working Paper CEPR Discussion Paper
Perceptions about Monetary Policy
We estimate perceptions about the Fed’s monetary policy rule from micro data on professional forecasters. The perceived rule …
Michael D. Bauer, Carolin E. Pflueger, Adi Sunderam
PDF NBER Working Paper
An Alternative Explanation for the 'Fed Information Effect'
High-frequency changes in interest rates around FOMC announcements are a standard method of measuring monetary policy shocks. However, …
Michael D. Bauer, Eric T. Swanson
PDF Online Appendix FRBSF Working Paper NBER Working Paper
Monetary Policy, Risk-Taking, and the Macroeconomy
This paper provides new evidence for the risk-taking channel of monetary policy, using a new index of risk appetite, event-study …
Michael D. Bauer, Ben S. Bernanke, Eric Milstein
PDF Online Appendix
A Reassessment of Monetary Policy Surprises and High-Frequency Identification
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy …
Michael D. Bauer, Eric T. Swanson
PDF NBER Working Paper CEPR Discussion Paper Conference Webseite Data FOMC Announcements