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

29

DOWNLOADS
Rank 10,802

SSRN RANKINGS

Top 10,802

in Total Papers Downloads

5,330

SSRN CITATIONS
Rank 679

SSRN RANKINGS

Top 679

in Total Papers Citations

890

CROSSREF CITATIONS

642

Scholarly Papers (29)

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 1,232 (19,727)
Citation 409

Abstract:

Loading...

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 541 (60,671)
Citation 37

Abstract:

Loading...

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 (487,732)
Citation 13
  • Add to Cart

Abstract:

Loading...

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 386 (92,080)
Citation 12

Abstract:

Loading...

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 and Tao Wu
Federal Reserve Bank of San Francisco, University of California, Irvine - Department of Economics and Federal Reserve Bank of Dallas
Downloads 330 (110,002)
Citation 36

Abstract:

Loading...

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 324 (112,178)
Citation 170

Abstract:

Loading...

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 308 (118,478)
Citation 60

Abstract:

Loading...

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, Board of Governors of the Federal Reserve System, University of California, Irvine - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 228 (160,341)

Abstract:

Loading...

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
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, University of California, Irvine - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 39 (516,141)
Citation 7

Abstract:

Loading...

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
University of Chicago - Booth School of Business and University of California, Irvine - Department of Economics
Downloads 167 (213,330)
Citation 34

Abstract:

Loading...

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: 28 Apr 2021
Monika Piazzesi and Eric T. Swanson
University of Chicago - Booth School of Business and University of California, Irvine - Department of Economics
Downloads 81 (361,994)
Citation 6

Abstract:

Loading...

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 208 (175,405)
Citation 17

Abstract:

Loading...

Transparency, monetary policy, forecasts

10.

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 175 (204,815)
Citation 4

Abstract:

Loading...

wages, labor market

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 123 (273,437)
Citation 11

Abstract:

Loading...

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 37 (526,155)
Citation 110

Abstract:

Loading...

12.

Models of Sectoral Reallocation

Number of pages: 42 Posted: 05 Jul 1999
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 157 (224,590)

Abstract:

Loading...

13.

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 144 (241,002)
Citation 67

Abstract:

Loading...

partial identification, monetary policy, vector autoregressions

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 88 (344,094)

Abstract:

Loading...

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 45 (487,732)
Citation 26

Abstract:

Loading...

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 (745,494)
Citation 6
  • Add to Cart

Abstract:

Loading...

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

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 135 (253,836)
Citation 15

Abstract:

Loading...

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 127 (265,818)
Citation 4

Abstract:

Loading...

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 101 (312,545)

Abstract:

Loading...

18.

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 82 (355,926)
Citation 9

Abstract:

Loading...

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

19.

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: 09 Apr 2021
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 28 (562,090)
Citation 40

Abstract:

Loading...

20.

The Fed’s Response to Economic News Explains the ‘Fed Information Effect’

Number of pages: 61 Posted: 03 Apr 2020
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 27 (568,093)

Abstract:

Loading...

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

21.

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
Eric T. Swanson and John C. Williams
University of California, Irvine - Department of Economics and Federal Reserve Bank of New York
Downloads 26 (574,317)
Citation 64

Abstract:

Loading...

22.

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 26 (574,317)
Citation 1

Abstract:

Loading...

Monetary policy, Econometric models

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 22 (619,393)
Citation 1

Abstract:

Loading...

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

The Fed&Apos;S Response to Economic News Explains the "Fed Information Effect"

NBER Working Paper No. w27013
Number of pages: 60 Posted: 20 Apr 2020 Last Revised: 24 Apr 2021
Michael Bauer and Eric T. Swanson
Universität Hamburg and University of California, Irvine - Department of Economics
Downloads 3 (771,860)
Citation 3
  • Add to Cart

Abstract:

Loading...

24.

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 24 (587,123)

Abstract:

Loading...

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: 10 Feb 2021
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 23 (593,581)
Citation 5

Abstract:

Loading...

26.

Real Wage Cyclicality in the Panel Study of Income Dynamics

Scottish Journal of Political Economy, Vol. 54, Issue 5, pp. 617-647, November 2007
Number of pages: 31 Posted: 05 Nov 2007
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 16 (641,069)
Citation 3
  • Add to Cart

Abstract:

Loading...

27.

Monetary Policy Effectiveness in China: Evidence from a FAVAR Model

NBER Working Paper No. w20518
Number of pages: 43 Posted: 30 Sep 2014
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 13 (662,868)
Citation 6

Abstract:

Loading...

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: 22 Feb 2021
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 8 (700,189)
Citation 11

Abstract:

Loading...

29.

Implications of Labor Market Frictions for Risk Aversion and Risk Premia

NBER Working Paper No. w25764
Number of pages: 51 Posted: 22 Apr 2019
Eric T. Swanson
University of California, Irvine - Department of Economics
Downloads 5 (723,141)
  • Add to Cart

Abstract:

Loading...