Hess T. Chung

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

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SCHOLARLY PAPERS

12

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793

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in Total Papers Citations

32

Scholarly Papers (12)

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1.

Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve'S Current Policy Toolkit

FEDS Working Paper No. 2019-3
Number of pages: 63 Posted: 07 Feb 2019 Last Revised: 21 Feb 2019
Hess T. Chung, Etienne Gagnon, Taisuke Nakata, Matthias O. Paustian, Bernd Schlusche, James Trevino, Diego Vilan and Wei Zheng
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 182 (356,805)
Citation 12

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2.

Alternative Strategies: How Do They Work? How Might They Help?

FEDS Working Paper No. 2020-68
Number of pages: 31 Posted: 01 Sep 2020
Jonas Arias, Martin Bodenstein, Hess T. Chung, Thorsten Drautzburg and Andrea Raffo
Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Board of Governors of the Federal Reserve System
Downloads 144 (435,921)
Citation 8

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3.

Assessing the Change in Labor Market Conditions

Downloads 139 (448,451)
Citation 2

Assessing the Change in Labor Market Conditions

FEDS Working Paper No. 2014-109
Posted: 09 Jul 2021 Last Revised: 24 Jun 2022
Hess T. Chung, Bruce Fallick, Christopher J. Nekarda and David Ratner
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and affiliation not provided to SSRN

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LMCI, U.S. labor market, dynamic factor models, employment, unemployment rates

Assessing the Change in Labor Market Conditions

FRB of Cleveland Working Paper No. 14-38
Number of pages: 35 Posted: 24 Dec 2014
Hess T. Chung, Bruce Fallick, Christopher J. Nekarda and David Ratner
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 139 (449,406)
Citation 2

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LMCI, U.S. labor market, dynamic factor model, unemployment rate, employment

Assessing the Change in Labor Market Conditions

FEDS Notes No. 2014-05-22 https://doi.org/10.17016/2380-7172.0019
Posted: 16 Dec 2014
Hess T. Chung, Bruce Fallick, Christopher J. Nekarda and David Ratner
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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4.

Considerations Regarding Inflation Ranges

FEDS Working Paper No. 2020-75
Number of pages: 36 Posted: 01 Sep 2020
Hess T. Chung, Brian M. Doyle, James Hebden and Michael Siemer
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 120 (503,842)
Citation 2

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5.

Documentation of the Estimated, Dynamic, Optimization-Based (EDO) Model of the U.S. Economy: 2010 Version

FEDS Working Paper No. 29
Number of pages: 67 Posted: 19 Mar 2011
Michael T. Kiley, Jean-Philippe Laforte and Hess T. Chung
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 100 (576,885)
Citation 5

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DSGE model, policy model

6.

Endogenous Labor Supply in an Estimated New-Keynesian Model: Nominal Versus Real Rigidities

Downloads 45 (887,752)

Endogenous Labor Supply in an Estimated New-Keynesian Model: Nominal Versus Real Rigidities

FEDS Working Paper No. 2023-69
Number of pages: 59 Posted: 14 Nov 2023
Isabel Cairo, Hess T. Chung, Francesco Ferrante, Cristina Fuentes-Albero, Camilo Morales-Jimenez and Damjan Pfajfar
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Cleveland
Downloads 32 (1,041,751)

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Search and matching, Labor supply, Labor force participation, Missing disinflation, Great recession

Endogenous Labor Supply in an Estimated New-Keynesian Model: Nominal Versus Real Rigidities

Number of pages: 65 Posted: 14 Mar 2025
Camilo Morales-Jimenez, Cristina Fuentes-Albero, Isabel Cairo, Damjan Pfajfar, Francesco Ferrante and Hess T. Chung
Board of Governors of the Federal Reserve System, affiliation not provided to SSRN, Board of Governors of the Federal Reserve System, Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 7 (1,351,301)

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search and matching, labor supply, labor force participation, missing disinflation, Great Recession

Endogenous Labor Supply in an Estimated New-Keynesian Model: Nominal versus Real Rigidities

FRB of Cleveland Working Paper No. 25-08, https://doi.org/10.26509/frbc-wp-202508
Number of pages: 65 Posted: 06 Mar 2025
Isabel Cairo, Hess T. Chung, Francesco Ferrante, Cristina Fuentes-Albero, Camilo Morales-Jimenez and Damjan Pfajfar
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Cleveland
Downloads 6 (1,359,264)

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labor supply, labor force participation, missing disinflation, Great Recession, search and matching

7.

Latent Variables Analysis in Structural Models: A New Decomposition of the Kalman Smoother

FEDS Working Paper No. 2020-100
Number of pages: 38 Posted: 07 Dec 2020
Hess T. Chung, Cristina Fuentes-Albero, Matthias O. Paustian and Damjan Pfajfar
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Cleveland
Downloads 36 (972,702)

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Kalman smoother, latent variables, Shock decomposition, Data decomposition, Double decomposition

8.

Effective Monetary Policy Strategies in New Keynesian Models: A Re-Examination

NBER Working Paper No. w20611
Number of pages: 50 Posted: 27 Oct 2014 Last Revised: 27 Apr 2023
Hess T. Chung, Edward Herbst and Michael T. Kiley
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 27 (1,071,133)
Citation 3

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9.

Balance Sheet Policies in an Evolving Economy: Some Modelling Advances and Illustrative Simulations

FEDS Notes No. 2023-02-03-1
Posted: 12 May 2023
Hess T. Chung, Etienne Gagnon, James Hebden, Kyungmin Kim, Bernd Schlusche, Eric Till, James Trevino and Diego Vilan
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Independent, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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10.

Documentation of the Estimated, Dynamic, Optimization-Based (Edo) Model of the U.S. Economy: 2010 Version

FEDS Working Paper No. 2010-29
Posted: 09 Jul 2021
Hess T. Chung, Michael T. Kiley and Jean-Philippe Laforte
Board of Governors of the Federal Reserve System, affiliation not provided to SSRN and affiliation not provided to SSRN

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11.

The Effects of Forward Guidance in Three Macro Models

FEDS Notes No. 2015-02-26-1 https://doi.org/10.17016/2380-7172.1488
Posted: 22 Oct 2015
Hess T. Chung
Board of Governors of the Federal Reserve System

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12.

Updating the Labor Market Conditions Index

FEDS Notes No. 2014-10-01 https://doi.org/10.17016/2380-7172.0028
Posted: 16 Dec 2014
Hess T. Chung, Christopher J. Nekarda and David Ratner
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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