Revised Staff Reports
Technical working papers revised to incorporate new data, comments from outside readers, and refinements to the line of argument. The new version of the staff report retains the original production number, but carries the date of revision as well as the original date of release.
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Staff Reports Revised in 2014

Agglomeration and Job Matching among College Graduates
Jaison R. Abel and Richard Deitz
December  Number 587
Revised December 2014

CDS and Equity Market Reactions to Stock Issuances in the U.S. Financial Industry: Evidence from the 2002-13 Period
Marcia Millon Cornett, Hamid Mehran, Kevin Pan, Minh Phan, and Chenyang Wei
November  Number 697
Revised December 2014

Caught between Scylla and Charybdis? Regulating Bank Leverage When There Is Rent Seeking and Risk Shifting
Viral V. Acharya, Hamid Mehran, and Anjan Thakor
September  Number 469
Revised December 2014
Regression-Based Estimation of Dynamic Asset Pricing Models
Previous title: “Efficient Regression-Based Estimation of Dynamic Asset Pricing Models”
Tobias Adrian, Richard K. Crump, and Emanuel Moench
May  Number 493
Revised December 2014

Dynamic Leverage Asset Pricing
Previous title: “Leverage Asset Pricing”
Tobias Adrian, Emanuel Moench, and Hyun Song Shin
August 2013  Number 625
Revised December 2014

Unemployment Benefits and Unemployment in the Great Recession: The Role of Macro Effects
Marcus Hagedorn, Fatih Karahan, Iourii Manovskii, and Kurt Mitman
October 2013  Number 646
Revised November 2014

Fundamental Disagreement
Previous title: “Noisy Information and Fundamental Disagreement”
Philippe Andrade, Richard K. Crump, Stefano Eusepi, and Emanuel Moench
December 2013  Number 655
Revised November 2014

International Trade, Risk, and the Role of Banks
Previous title: “Banks in International Trade Finance: Evidence from the U.S.”
Friederike Niepmann and Tim Schmidt-Eisenlohr
September 2013  Number 633
Revised November 2014

Time-Varying Structural Vector Autoregressions and Monetary Policy: A Corrigendum
Marco Del Negro and Giorgio Primiceri
May 2013  Number 619
Revised October 2014

Trading Partners in the Interbank Lending Market
Gara Afonso, Anna Kovner, and Antoinette Schoar
May 2013  Number 620
Revised October 2014

Assessing Financial Stability: The Capital and Loss Assessment under Stress Scenarios (CLASS) Model
Previous title: "The Capital and Loss Assessment under Stress Scenarios (CLASS) Model"
Beverly Hirtle, Anna Kovner, James Vickery, and Meru Bhanot
February 2014  Number 663
Revised October 2014

Dynamic Leverage Asset Pricing
Previous title: “Leverage Asset Pricing”
Tobias Adrian, Emanuel Moench, and Hyun Song Shin
August 2013  Number 625
Revised October 2014

No Guarantees, No Trade: How Banks Affect Export Patterns
Friederike Niepmann and Tim Schmidt-Eisenlohr
December 2013  Number 659
Revised October 2014

CoVaR
Tobias Adrian and Markus K. Brunnermeier
September 2008  Number 348
Revised September 2014

Fundamental Disagreement
Previous title: “Noisy Information and Fundamental Disagreement”
Philippe Andrade, Richard K. Crump, Stefano Eusepi, and Emanuel Moench
December 2013  Number 655
Revised September 2014

Repo Runs: Evidence from the Tri-Party Repo Market
Adam Copeland, Antoine Martin, and Michael Walker
July 2011  Number 506
Revised August 2014

Identifying Term Interbank Loans from Fedwire Payments Data
Dennis Kuo, David Skeie, James Vickery, and Thomas Youle
March 2013  Number 603
Revised August 2014

Determinants of College Major Choice: Identification using an Information Experiment
Matthew Wiswall and Basit Zafar
June 2011  Number 500
Revised August 2014

Financial Education and the Debt Behavior of the Young
Meta Brown, John Grigsby, Wilbert van der Klaauw, Jaya Wen, and Basit Zafar
September  Number 634
Revised July 2014

Regression-Based Estimation of Dynamic Asset Pricing Models
Previous title: “Efficient Regression-Based Estimation of Dynamic Asset Pricing Models”
Tobias Adrian, Richard K. Crump, and Emanuel Moench
May  Number 493
Revised June 2014

Securitization and the Fixed-Rate Mortgage
Andreas Fuster and James Vickery
January  Number 594
Revised June 2014

Heterogeneous Inflation Expectations and Learning
Previous title: “Heterogeneous Inflation Expectations, Learning,
and Market Outcomes”
Carlos Madeira and Basit Zafar
January  Number 536
Revised June 2014

Information Acquisition and Financial Intermediation
Nina Boyarchenko
September  Number 571
Revised June 2014

An Empirical Study of Trade Dynamics in the Interbank Market
Previous title: An Empirical Study of Trade Dynamics in the Fed Funds Market
Gara Afonso and Ricardo Lagos
February  Number 550
Revised June 2014

Financial Stability Monitoring
Tobias Adrian, Daniel Covitz, and Nellie Liang
February  Number 601
Revised June 2014

Fire-Sale Spillovers and Systemic Risk
Fernando Duarte and Thomas M. Eisenbach
October  Number 645
Revised May 2014

Up Close It Feels Dangerous: “Anxiety” in the Face of Risk
Thomas M. Eisenbach and Martin C. Schmalz
April  Number 610
Revised May 2014

The Macroeconomics of Trend Inflation
Guido Ascari and Argia M. Sbordone
August  Number 628
Revised May 2014

Optimized Taylor Rules for Disinflation When Agents Are Learning
Timothy Cogley, Christian Matthes, and Argia M. Sbordone
November  Number 524
Revised May 2014

More on U.S. Treasury Term Premiums: Spot and Expected Measures
J. Benson Durham
December  Number 658
Revised May 2014

The Microstructure of a U.S. Treasury ECN: The BrokerTec Platform
Michael J. Fleming, Bruce Mizrach, and Giang Nguyen
July  Number 381
Revised May 2014

A Primer on the GCF Repo® Service
Paul Agueci, Leyla Alkan, Adam Copeland, Isaac Davis, Antoine Martin, Kate Pingitore, Caroline Prugar, and Tyisha Rivas
April  Number 671
Revised May 2014

No Guarantees, No Trade: How Banks Affect Export Patterns
Friederike Niepmann and Tim Schmidt-Eisenlohr
December  Number 659
Revised April 2014

Inflation in the Great Recession and New Keynesian Models
Marco Del Negro, Marc P. Giannoni, and Frank Schorfheide
May 2013  Number 618
Revised April 2014

International Trade, Risk, and the Role of Banks
Previous title: “Banks in International Trade Finance: Evidence from the U.S.”
Friederike Niepmann and Tim Schmidt-Eisenlohr
September 2013  Number 633
Revised April 2014

Fundamental Disagreement
Previous title: “Noisy Information and Fundamental Disagreement”
Philippe Andrade, Richard K. Crump, Stefano Eusepi, and Emanuel Moench
December 2013  Number 655
Revised April 2014

Financial Education and the Debt Behavior of the Young
Meta Brown, Wilbert van der Klaauw, Jaya Wen, and Basit Zafar
September 2013  Number 634
Revised February 2014

Revisiting Useful Approaches to Data-Rich Macroeconomic Forecasting
Jan J. J. Groen and George Kapetanios
May 2008  Number 327
Revised January 2014

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