Benjamin S. Kay

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

http://https://www.federalreserve.gov/econres/benjamin-s-kay.htm

  • Board of Governors of the Federal Reserve System

SCHOLARLY PAPERS

15

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TOTAL CITATIONS
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58

Scholarly Papers (15)

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1.

CDC Guidance Dramatically Under-Represents Classroom Student Capacity Under 6' Social Distancing

Number of pages: 9 Posted: 10 Mar 2021 Last Revised: 11 Mar 2021
Benjamin S. Kay
Board of Governors of the Federal Reserve System
Downloads 1,576 (25,375)

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COVID-19, Social Distancing, In-person Schooling, Optimal Packing, Efficient Classroom Configuration

2.

Long Lived Employment Effects of Delays in Emergency Financing for Small Businesses

Downloads 532 (112,750)
Citation 24

Long Lived Employment Effects of Delays in Emergency Financing for Small Businesses

Number of pages: 48 Posted: 03 Feb 2021 Last Revised: 04 Jul 2023
Cynthia Doniger and Benjamin S. Kay
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 388 (162,170)
Citation 8

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Paycheck Protection Program, CARES Act, Countercyclical Fiscal Policy, COVID-19, Kurzarbeit, Income Support, Small Business Lending, Small and Medium Enterprises (SMEs), Financial Frictions

Ten Days Late and Billions of Dollars Short: The Employment Effects of Delays in Paycheck Protection Program Financing

FEDS Working Paper No. 2021-3
Number of pages: 71 Posted: 14 Jun 2021 Last Revised: 18 Jun 2022
Cynthia Doniger and Benjamin S. Kay
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 144 (431,946)
Citation 16

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Paycheck Protection Program, CARES Act, countercyclical fiscal policy, Covid-19, Kurzarbeit, Income Support, Small Business Lending, Small and Medium Enterprises (SMEs), Financial Frictions

3.

The Market-Implied Probability of Government Support for Distressed European Banks

OFR WP 16-10, Columbia Business School Research Paper No. 16-73
Number of pages: 23 Posted: 12 Oct 2016 Last Revised: 23 Dec 2019
Richard Neuberg, Paul Glasserman, Benjamin S. Kay and Sriram Rajan
Columbia University - Department of Statistics, Columbia Business School, Board of Governors of the Federal Reserve System and Government of the United States of America - Office of Financial Research
Downloads 435 (143,627)
Citation 10

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Bailout, bail-in, European Bank Resolution and Recovery Directive, credit default swaps

4.

Bank Income and Adjustment to Debit Card Interchange Regulation

Downloads 435 (143,627)
Citation 4

Bank Income and Adjustment to Debit Card Interchange Regulation

Number of pages: 49 Posted: 13 Jun 2014 Last Revised: 15 Nov 2016
Benjamin S. Kay, Mark D. Manuszak and Cindy M. Vojtech
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 253 (256,653)
Citation 1

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Durbin Amendment, Debit Cards, Dodd-Frank, Bank Competition, Retail Banking

Bank Profitability and Debit Card Interchange Regulation: Bank Responses to the Durbin Amendment

FEDS Working Paper No. 2014-77
Number of pages: 47 Posted: 17 Oct 2014
Benjamin S. Kay, Mark D. Manuszak and Cindy M. Vojtech
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 (352,440)
Citation 3

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banks, debit cards, Dodd-Frank Act, Durbin Amendment, interchange fees, payments

5.

The Covid-19 Shock and Consumer Credit: Evidence from Credit Card Data

Downloads 93 (243,495)
Citation 7

The COVID-19 Shock and Consumer Credit: Evidence from Credit Card Data

FEDS Working Paper No. 2021-008 https://doi.org/10.17016/FEDS.2021.008
Number of pages: 55 Posted: 22 Apr 2021
Akos Horvath, Benjamin S. Kay and Carlo Wix
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 93 (604,497)
Citation 7

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COVID-19; Bank lending; Consumer credit; Credit cards; Credit supply; Household spending

The COVID-19 Shock and Consumer Credit: Evidence from Credit Card Data

Journal of Banking and Finance, Vol. 152, No. 1, 2023
Posted: 29 May 2020 Last Revised: 03 May 2023
Akos Horvath, Benjamin S. Kay and Carlo Wix
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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credit card use, household spending and borrowing, COVID-19, nonpharmaceutical interventions, credit-smoothing

6.

Corporate Governance Responses to Director Rule Changes

Number of pages: 45 Posted: 05 May 2015
Benjamin S. Kay and Cindy M. Vojtech
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 218 (298,397)
Citation 3

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Corporate Governance, Sarbanes Oxley Act, SOX, Natural Experiment, E-Index, Executive Compensation, Corporate Finance

7.

The Real Consequences of Bank Mortgage Lending Standards

OFR WP 16-05
Number of pages: 53 Posted: 16 May 2016 Last Revised: 19 Dec 2018
Cindy M. Vojtech, Benjamin S. Kay and John C. Driscoll
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 192 (336,118)
Citation 6

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Residential Real Estate, Denial Rates, Credit Availability

8.

Bank Profitability and Debit Card Interchange Regulation: Bank Responses to the Durbin Amendment

FEDS Working Paper No. 2014-77
Number of pages: 47 Posted: 31 May 2017
Benjamin S. Kay, Mark D. Manuszak and Cindy M. Vojtech
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 147 (423,877)

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9.

Safe Assets As Commodity Money

Downloads 143 (433,437)

Safe Assets As Commodity Money

OFR WP 15-23
Number of pages: 31 Posted: 27 Nov 2015 Last Revised: 15 Nov 2016
Maya Eden and Benjamin S. Kay
World Bank - Development Research Group (DECRG) and Board of Governors of the Federal Reserve System
Downloads 94 (599,979)

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Private Money Creation; Liquidity; Institutional Money Alternatives

Safe Assets as Commodity Money

Number of pages: 30 Posted: 11 Oct 2015
Benjamin S. Kay and Maya Eden
Board of Governors of the Federal Reserve System and World Bank - Development Research Group (DECRG)
Downloads 49 (861,685)

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Safe assets, Shadow banking, Liquidity premium, Commodity money, Liquidity crisis

10.

The Impact of Credit Risk Mispricing on Mortgage Lending During the Subprime Boom

Number of pages: 69 Posted: 12 Apr 2019
James A. Kahn and Benjamin S. Kay
Yeshiva University and Board of Governors of the Federal Reserve System
Downloads 85 (631,844)
Citation 3

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Financial Crisis, Mortgage Insurance, Housing Finance, Default Risk

11.

The Impact of Credit Risk Mispricing on Mortgage Lending During the Subprime Boom

FEDS Working Paper No. 2019-46
Number of pages: 60 Posted: 17 Jul 2019 Last Revised: 24 Aug 2019
James A. Kahn and Benjamin S. Kay
Yeshiva University and Board of Governors of the Federal Reserve System
Downloads 78 (664,245)

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12.

The Effects of Housing Adjustment Costs on Consumption Dynamics

Number of pages: 39 Posted: 16 Nov 2016
Benjamin S. Kay
Board of Governors of the Federal Reserve System
Downloads 70 (705,224)

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Houshold Portfolio, Housing, Macroeconomics, Adjustment Costs, Consumption Dynamics, Great Recession

13.

The Varieties of Great Moderation Experience

Number of pages: 60 Posted: 03 Jul 2013
Benjamin S. Kay and Thomas Daula
Board of Governors of the Federal Reserve System and Government of the United States of America - Federal Housing Finance Board (FHFB)
Downloads 54 (805,216)
Citation 1

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The Great Moderation, international macroeconomics, Bayesian econometrics, classical econometrics, labor-hoarding, labor market frictions

14.

Do Information Releases Diminish Equity Bid-Offer Spreads?

Number of pages: 40 Posted: 16 Nov 2016
Benjamin S. Kay
Board of Governors of the Federal Reserve System
Downloads 44 (884,456)

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Market Microstructure, Equities, Adverse Selection, Event Studies, SEC Filings

15.

Challenging Demographic Representativeness at State Borders: Implications for Policy Research

FEDS Working Paper No. 2025-18
Number of pages: 24 Posted: 14 Mar 2025
Benjamin S. Kay and Albina Khatiwoda
Board of Governors of the Federal Reserve System and Harvard University - Harvard Kennedy School (HKS)
Downloads 14 (1,217,697)

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Demographics, Difference-in-Difference Estimates, Event Studies, Natural Experiments, Policy Experiments, US state border counties