Eric T. Swanson

University of California, Irvine - Department of Economics

Professor

University of California, Irvine

3151 Social Science Plaza

Irvine, CA 92697-5100

United States

http://www.ericswanson.org

SCHOLARLY PAPERS

31

DOWNLOADS
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Top 11,139

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6,520

SSRN CITATIONS
Rank 641

SSRN RANKINGS

Top 641

in Total Papers Citations

973

CROSSREF CITATIONS

637

Scholarly Papers (31)

1.

Do Actions Speak Louder than Words? The Response of Asset Prices to Monetary Policy Actions and Statements

Number of pages: 43 Posted: 19 Dec 2004
Refet S. Gürkaynak, Brian P. Sack and Eric T. Swanson
Bilkent University - Department of Economics, Board of Governors of the Federal Reserve - Monetary and Financial Market Analysis Section and University of California, Irvine - Department of Economics
Downloads 1,899 (12,959)
Citation 224

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Measuring monetary policy surprises, FOMC statement, factor models, assest prices

Does Inflation Targeting Anchor Long-Run Inflation Expectations? Evidence from Long-Term Bond Yields in the U.S., U.K. And Sweden

Federal Reserve Bank of San Francisco Working Paper No. 2006-09
Number of pages: 51 Posted: 22 Jul 2007
Refet S. Gürkaynak, Andrew T. Levin and Eric T. Swanson
Bilkent University - Department of Economics, affiliation not provided to SSRN and University of California, Irvine - Department of Economics
Downloads 575 (69,928)
Citation 37

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inflation targeting, inflation compensation, excess sensitivity, forward rates, high-frequency data

Does Inflation Targeting Anchor Long-Run Inflation Expectations? Evidence from Long-Term Bond Yields in the U.S., U.K. And Sweden

CEPR Discussion Paper No. 5808
Number of pages: 53 Posted: 12 Oct 2006
Refet S. Gürkaynak, Andrew T. Levin and Eric T. Swanson
Bilkent University - Department of Economics, affiliation not provided to SSRN and University of California, Irvine - Department of Economics
Downloads 45 (583,248)
Citation 13
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Inflation targeting

3.

Macroeconomic Implications of Changes in the Term Premium

FRB of San Francisco Working Paper No. 2006-46
Number of pages: 48 Posted: 17 Aug 2007
Glenn D. Rudebusch, Brian P. Sack and Eric T. Swanson
Federal Reserve Bank of San Francisco, Board of Governors of the Federal Reserve - Monetary and Financial Market Analysis Section and University of California, Irvine - Department of Economics
Downloads 433 (99,174)
Citation 12

Abstract:

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Interest rates, Economic forecasting

4.

The Bond Yield 'Conundrum' from a Macro-Finance Perspective

FRB of San Francisco Working Paper No. 2006-16
Number of pages: 42 Posted: 26 Jul 2007
Glenn D. Rudebusch, Eric T. Swanson, Tao Wu and Tao Wu
Federal Reserve Bank of San Francisco, University of California, Irvine - Department of Economics and Federal Reserve Bank of San FranciscoFederal Reserve Bank of Dallas
Downloads 371 (118,422)
Citation 36

Abstract:

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Treasury bonds, Federal funds rate

5.

The Excess Sensitivity of Long-Term Interest Rates: Evidence and Implications for Macroeconomic Models

Number of pages: 44 Posted: 09 Mar 2004
Refet S. Gürkaynak, Brian P. Sack and Eric T. Swanson
Bilkent University - Department of Economics, Board of Governors of the Federal Reserve - Monetary and Financial Market Analysis Section and University of California, Irvine - Department of Economics
Downloads 347 (127,446)
Citation 178

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Long-term interest rates, excess volatility, inflation expectations

6.

Market-Based Measures of Monetary Policy Expectations

Federal Reserve Bank of San Francisco Working Paper No. 2006-04, FEDS Working paper 2002-40
Number of pages: 36 Posted: 25 Nov 2002
Refet S. Gürkaynak, Brian P. Sack and Eric T. Swanson
Bilkent University - Department of Economics, Board of Governors of the Federal Reserve - Monetary and Financial Market Analysis Section and University of California, Irvine - Department of Economics
Downloads 339 (130,763)
Citation 63

Abstract:

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monetary policy, federal funds rate, financial markets

Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequency Data

Number of pages: 47 Posted: 17 Dec 2002
Board of Governors of the Federal Reserve System, Fudan University - Fanhai International School of Finance (FISF), University of California, Irvine - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 244 (182,437)

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High frequency data, identification, vector autoregression, exchange rates, monetary policy

Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequency Data

NBER Working Paper No. w9660
Number of pages: 47 Posted: 27 Apr 2003 Last Revised: 29 Nov 2022
Board of Governors of the Federal Reserve System, Fudan University - Fanhai International School of Finance (FISF), University of California, Irvine - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 50 (557,762)
Citation 7

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Futures Prices as Risk-Adjusted Forecasts of Monetary Policy

Federal Reserve Bank of San Francisco Working Paper No. 2006-23
Number of pages: 40 Posted: 28 Jul 2007
Monika Piazzesi and Eric T. Swanson
Stanford University and University of California, Irvine - Department of Economics
Downloads 172 (251,572)
Citation 27

Abstract:

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monetary policy

Futures Prices as Risk-Adjusted Forecasts of Monetary Policy

NBER Working Paper No. w10547
Number of pages: 32 Posted: 18 Jun 2004 Last Revised: 29 Oct 2022
Monika Piazzesi and Eric T. Swanson
Stanford University and University of California, Irvine - Department of Economics
Downloads 88 (413,390)
Citation 17

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9.

Federal Reserve Transparency and Financial Market Forecasts of Short-Term Interest Rates

Finance and Economics Discussion Series No. 2004-6
Number of pages: 37 Posted: 10 Mar 2004
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 228 (195,334)
Citation 17

Abstract:

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Transparency, monetary policy, forecasts

The Bond Premium in a DSGE Model with Long-Run Real and Nominal Risks

Number of pages: 45 Posted: 22 Mar 2009
Glenn D. Rudebusch and Eric T. Swanson
Federal Reserve Bank of San Francisco and University of California, Irvine - Department of Economics
Downloads 148 (285,389)
Citation 11

Abstract:

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yield curve, term premium, bond pricing, long-run risk

The Bond Premium in a DSGE Model with Long-Run Real and Nominal Risks

National Bank of Belgium Working Paper No. 143
Number of pages: 50 Posted: 02 Oct 2010
Glenn D. Rudebusch and Eric T. Swanson
Federal Reserve Bank of San Francisco and University of California, Irvine - Department of Economics
Downloads 40 (611,486)
Citation 121

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11.

Real Wage Cyclicality in the PSID

FRB of San Francisco Working Paper No. 2007-15
Number of pages: 41 Posted: 02 Nov 2007
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 179 (243,012)
Citation 4

Abstract:

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wages, labor market

12.

Models of Sectoral Reallocation

Number of pages: 42 Posted: 05 Jul 1999
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 172 (251,335)

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Convergence and Anchoring of Yield Curves in the Euro Area

ECB Working Paper No. 817
Number of pages: 52 Posted: 19 Oct 2007
European Central Bank (ECB), DIW Berlin, Bilkent University - Department of Economics and University of California, Irvine - Department of Economics
Downloads 102 (375,792)

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bond markets, euro area, EMU, convergence, anchoring, credibility, monetary policy

Convergence and Anchoring of Yield Curves in the Euro Area

FRB of San Francisco Working Paper No. 2007-24
Number of pages: 46 Posted: 02 Nov 2007
European Central Bank (ECB), DIW Berlin, Bilkent University - Department of Economics and University of California, Irvine - Department of Economics
Downloads 57 (525,093)
Citation 25

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bond markets, euro area, EMU; convergence, anchoring, credibility

Convergence and Anchoring of Yield Curves in the Euro Area

CEPR Discussion Paper No. DP6456
Number of pages: 48 Posted: 30 May 2008
European Central Bank (ECB), DIW Berlin, Bilkent University - Department of Economics and University of California, Irvine - Department of Economics
Downloads 6 (907,261)
Citation 7
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anchoring, bond markets, convergence, credibility, EMU, euro area, monetary policy

14.

Identifying Vars Based on High Frequency Futures Data

Number of pages: 44 Posted: 27 Apr 2002
Jon Faust, Eric T. Swanson and Jonathan H. Wright
Board of Governors of the Federal Reserve System, University of California, Irvine - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 152 (278,440)
Citation 67

Abstract:

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partial identification, monetary policy, vector autoregressions

15.

Higher-Order Perturbation Solutions to Dynamic, Discrete-Time Rational Expectations Models

Federal Reserve Bank of San Francisco Working Paper Series 2006-01
Number of pages: 31 Posted: 24 Jul 2007
Eric T. Swanson, Gary Anderson and Andrew T. Levin
University of California, Irvine - Department of Economics, Board of Governors of the Federal Reserve System and affiliation not provided to SSRN
Downloads 140 (297,400)
Citation 15

Abstract:

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Business cycles, Macroeconomics, Monetary policy, Econometric models

16.

NAIRU Uncertainty and Nonlinear Policy Rules

Number of pages: 15 Posted: 17 Jan 2001
Laurence H. Meyer, Eric T. Swanson and Volker Wieland
Government of the United States of America - Division of Research and Statistics, University of California, Irvine - Department of Economics and University of Frankfurt
Downloads 132 (311,215)
Citation 5

Abstract:

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Simple nonlinear policy rule, signal extraction with non-normal prior, nonlinear updating

17.

Measuring the Cyclicality of Real Wages: How Important is Aggregation Across Industries?

Number of pages: 32 Posted: 01 Mar 2000
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 104 (368,336)

Abstract:

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18.

An Alternative Explanation for the ‘Fed Information Effect’

Number of pages: 48 Posted: 03 Apr 2020 Last Revised: 04 Jan 2022
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 102 (375,557)

Abstract:

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Federal Reserve, forecasts, survey, Blue Chip, Delphic forward guidance

19.

On Signal Extraction and Non-Certainty-Equivalence in Optimal Monetary Policy Rules

Number of pages: 31 Posted: 06 Nov 2000
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 84 (421,381)
Citation 9

Abstract:

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signal extraction, certainty equivalence, monetary policy rules, Taylor rule

An Alternative Explanation for the “Fed Information Effect”

NBER Working Paper No. w27013
Number of pages: 49 Posted: 20 Apr 2020 Last Revised: 30 Oct 2022
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 39 (617,405)
Citation 3

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The Fed's Response to Economic News Explains the 'Fed Information Effect'

CESifo Working Paper No. 8151
Number of pages: 63 Posted: 11 Mar 2020
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 38 (629,462)
Citation 3

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Federal Reserve, forecasts, survey, Blue Chip, Delphic forward guidance

21.

Measuring the Effects of Federal Reserve Forward Guidance and Asset Purchases on Financial Markets

NBER Working Paper No. w23311
Number of pages: 44 Posted: 10 Apr 2017 Last Revised: 13 Mar 2022
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 43 (582,087)
Citation 40

Abstract:

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22.

Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates

NBER Working Paper No. w20486
Number of pages: 40 Posted: 15 Sep 2014 Last Revised: 24 Jun 2022
Eric T. Swanson and John C. Williams
University of California, Irvine - Department of Economics and Federal Reserve Bank of New York
Downloads 33 (638,928)
Citation 68

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23.

The Relative Price and Relative Productivity Channels for Aggregate Fluctuations

FRB of San Francisco Working Paper No. 2006-20
Number of pages: 40 Posted: 26 Jul 2007
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 32 (645,286)

Abstract:

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24.

Optimal Nonlinear Policy: Signal Extraction With a Non-Normal Prior

Federal Reserve Bank of San Francisco Working Paper Series 2005-24
Number of pages: 24 Posted: 24 Jul 2007
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 30 (658,600)
Citation 1

Abstract:

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Monetary policy, Econometric models

25.

Measuring the Effects of Unconventional Monetary Policy on Asset Prices

NBER Working Paper No. w21816
Number of pages: 25 Posted: 21 Dec 2015 Last Revised: 12 Aug 2022
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 27 (679,738)
Citation 5

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26.

A Reassessment of Monetary Policy Surprises and High-Frequency Identification

CESifo Working Paper No. 9642
Number of pages: 68 Posted: 07 Apr 2022
Michael D. Bauer and Eric T. Swanson
University of Hamburg and University of California, Irvine - Department of Economics
Downloads 22 (718,564)

Abstract:

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FOMC, policy rule, monetary transmission, SVAR, external instruments

27.

Monetary Policy Effectiveness in China: Evidence from a FAVAR Model

NBER Working Paper No. w20518
Number of pages: 43 Posted: 30 Sep 2014 Last Revised: 25 Jul 2022
John G. Fernald, Mark M. Spiegel and Eric T. Swanson
Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco - Economic Research Department and University of California, Irvine - Department of Economics
Downloads 20 (734,949)
Citation 6

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28.

The Federal Reserve is Not Very Constrained by the Lower Bound on Nominal Interest Rates

NBER Working Paper No. w25123
Number of pages: 17 Posted: 08 Oct 2018 Last Revised: 25 Aug 2022
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 11 (818,724)
Citation 11

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29.

The Federal Funds Market, Pre- and Post-2008

NBER Working Paper No. w29762
Number of pages: 22 Posted: 21 Feb 2022 Last Revised: 29 Oct 2022
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 7 (861,511)
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30.

Implications of Labor Market Frictions for Risk Aversion and Risk Premia

NBER Working Paper No. w25764
Number of pages: 51 Posted: 22 Apr 2019 Last Revised: 25 Nov 2022
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 5 (884,304)
Citation 1

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A Reassessment of Monetary Policy Surprises and High-Frequency Identification

NBER Working Paper No. w29939
Number of pages: 67 Posted: 18 Apr 2022 Last Revised: 26 Oct 2022
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 4 (932,887)
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A Reassessment of Monetary Policy Surprises and High-Frequency Identification

CEPR Discussion Paper No. DP17116
Number of pages: 69 Posted: 29 Mar 2022
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 0
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External Instruments, FOMC, Monetary Transmission, Policy rule, SVAR