Resume

• 2010

  Doctor of Philosophy (Ph.D.)

  Managerial Economics and Strategy

  Northwestern University - Kellogg School of Management

• 2006

  Spanish

  General Course

  Mathematics and Economics

  Men's Basketball Team London Division II National Championship

  London School of Economics and Political Science

• 2004

  Bachelor of Arts (BA)

  Economics

  Omicron Delta Epsilon Economics Honor Society

  University of North Carolina at Chapel Hill

• Junior Achievement of Chicago

  Rats

  Matlab

  Microeconomics

  Stata

  Python

  Econometrics

  Mathematica

  Industrial Organization

  LaTeX

  Business Strategy

  What Is the Relationship between Large Deficits and Inflation in Industrialized Countries?

  Marco Bassetto

  Examining industrialized countries

  the authors find that large deficits are not associated with higher inflation contemporaneously

  nor are they associated with the emergence of higher inflation in subsequent years. This finding suggests that countries that can afford large deficits have built solid reputations and institutions supporting a sound monetary policy and the reversion to a stable fiscal regime.

  What Is the Relationship between Large Deficits and Inflation in Industrialized Countries?

  Scott Brave

  The authors present an alternative version of the Chicago Fed National Activity Index (CFNAI)

  which is constructed using a methodology that allows for a more robust treatment of the underlying data series than its traditional methodology. This alternative CFNAI produces superior predictions of real gross domestic product growth for the current quarter (nowcasts) while correlating more closely with U.S. recessions than the traditional index.

  Nowcasting Using the Chicago Fed National Activity Index

  Scott Brave

  Monitoring financial stability requires an understanding of both how traditional and evolving financial markets relate to each other and how they relate to economic conditions. This article describes two new indexes of financial conditions that aim to quantify these relationships.

  Monitoring Financial Stability: A Financial Conditions Index Approach

  Marcelo Veracierto

  The 2001 recession differed from previous recessions in several ways. First

  it was quite mild in terms of its associated contractions in output and consumption. Also

  since total hours worked fell sharply

  labor productivity remained relatively high. Furthermore

  while business fixed investment plummeted (actually

  much more than in a typical recession)

  residential investment and purchases of durable goods remained surprisingly strong. This is highly unusual: Typically

  residential investment and purchases of durable goods collapse during recessions

  often leading the general contraction in economic activity by several quarters.

  Preannounced Tax Cuts and Their Potential Influence on the 2001 Recession

  Scott Brave

  International Journal of Central Banking

  We approach the task of monitoring financial stability within a framework that balances the costs and benefits of identifying future crisis-like conditions based on past U.S. financial crises. Our results indicate that the National Financial Conditions Index (NFCI) produced by the Federal Reserve Bank of Chicago is a highly predictive and robust indicator of financial stress at leading horizons of up to one year

  with measures of leverage playing a crucial role in signaling financial imbalances. At longer forecast horizons

  we propose an alternative sub-index of the NFCI that captures the relationship between non-financial leverage

  financial stress

  and economic activity.

  Diagnosing the Financial System: Financial Conditions and Financial Stress

  R. Andrew

  Butters

  Indiana University Kelley School of Business

  Federal Reserve Bank of Chicago

  Federal Reserve Bank of Chicago

  Assistant Professor of Business Economics and Public Policy

  Indiana University Kelley School of Business