Francisco Palomino 


Principal Economist
Board of Governors of the Federal Reserve System
Research and Statistics - Capital Markets
1801 K Street NW 6529
Washington, DC 20006      

E-mail: francisco.palomino@frb.gov
Phone: (202) 452 5220   

Disclaimer: the material on this website does not represent the views of the Board of Governors of the Federal Reserve System.

Areas of Interest

Asset pricing, fixed income, macroeconomics.

Curriculum Vitae


Publications

Real and Nominal Equilibrium Yield Curves (with Erica X.N. Li and Alex Hsu), Management Science, Accepted.

Term Premium Dynamics and the Taylor Rule (with Michael Gallmeyer, Burton Hollifield and Stanley Zin), The Quarterly Journal of Finance, Vol. 7, No. 4, 2017.

Leisure Preferences, Long-Run Risks, and Human Capital Returns (with Robert Dittmar and Wei Yang), The Review of Asset Pricing Studies, Issue 6(1), 2016.

A Simple Nonnegative Process for Equilibrium Models (with Alex Hsu), Economics Letters, Volume 132, 2015. Code: ARG Solver.

Nominal Rigidities, Asset Returns, and Monetary Policy (with Erica X.N. Li), Journal of Monetary Economics, Volume 66, September 2014.

            This is a previous version of the paper that focuses on policy shocks: Monetary Policy Risk and the Cross Section of Stock Returns


Bond Risk Premiums and Optimal Monetary Policy, Review of Economic Dynamics, Volume 15, Issue 1, January 2012.

Arbitrage Free Bond Pricing with Dynamic Macroeconomic Models (with Michael Gallmeyer, Burton Hollifield and Stanley Zin), The Federal Reserve Bank of St. Louis Review, July/August 2007.



Working Papers

Gone with the Vol:  A Decline in Asset Return Predictability during the Great Moderation (with Alex Hsu and Charles Qian), 2019.

An Irrelevance Theorem for Risk Aversion and Time-Varying Risk (with Andrew Chen), 2019.

Permanent Working Papers

Monetary Policy, Time-Varying Risk Premiums, and the Economic Content of Bond Yields.

 

Work in  Progress

Asset Pricing with Monopolistic Competition in Financial Intermediation.