The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-09 With Paolo Colla, and Hyun Song Shin NBER Macroeconomics Annual 2012,Volume 27 edited by Daron Acemoglu, Jonathan Parker, and Michael Woodford, May 2013, pp. 159 - 214 Previously circulated as Federal Reserve Bank of New York Staff Reports, Number 528, December 2011
Disagreement and Learning in a Dynamic Contracting Model With Mark Westerfield Review of Financial Studies, Volume 22, Number 10 pp. 3873-3906 See also
›› Previously circulated as Federal Reserve Bank of New York Staff Reports, Number 269, December 2006 Received the WFA/CRA International 2007 Best Paper in Corporate Finance Award.
Learning about Beta: Time-varying Factor Loadings, Expected Returns, and the Conditional CAPM With Francesco Franzoni Journal of Empirical Finance, Volume 16, Number 4, September 2009 pp.537-556 See also
›› Previously circulated as Federal Reserve Bank of New York Staff Reports, Number 193, September 2004
The Degree of Openness and the Costs of Fixing the Exchange Rate With Daniel Gros Economics Letters, Volume 83, Issue 1, April 2004 pp. 141-146
A Stochastic Model of Self-Fulfilling Crisis in Fixed Exchange Rate Systems With Daniel Gros International Journal of Finance and Economics, Volume 4, Issue 2, May 1999 pp. 129-146
Tobias Adrian's CVThe views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.