CORE Week Visiting Economists Share Timely Research

The Richmond Fed's recent installment of CORE Week featured 14 economists who shared research findings about issues impacting the world.

CORE Week, which is the Collaboration of Research Economists (CORE) model, is a signature Richmond Fed program that seeks to advance collaboration within the economics profession. The program is hosted eight times a year and brings together Richmond Fed economists and visiting economists from a range of disciplines for seminars, conferences, networking and collaboration.

During the August 1-5 program, participants focused on topics ranging from the consumer-financed fiscal stimulus and the relevance of digital currency to the efficiency and effectiveness of the banking industry.

"Informal conversations were a highlight for me, many times addressing the concrete issues we face today, using the frontier tools that our researchers and visitors are currently developing," said Huberto Ennis, Richmond Fed group vice president for macro and financial economics.

Featured presentations included: "Consumer-Financed Fiscal Stimulus: Evidence from Digital Coupons in China," presented by Matt Notowidigdo, "The Distribution of Labor Market Surplus," presented by Giovanni Gallipoli and "Exchange Rate Disconnect Redux," presented by Pablo Guerron.

CORE Week attendees also participated in the Intermediation and Bank Liquidity Conference, which featured some of the world's leading economists sharing their latest research on the macro, finance, theoretical and empirical aspects of banking.

The conference presentations included "Central Bank Digital Currency and Banks," presented by Kairong Xiao, "Competition, Stability, and Efficiency in the Banking Industry," presented by Dean Corbae and "Monetary Policy Transmission in Segmented Markets," presented by Yiming Ma.

"It is important for a central bank to understand how banking works, which affects how investment, employment and consumption are financed, and also how monetary policy works out to the economy," said Russell Wong, a senior economist at the Richmond Fed and conference organizer. "The information shared by these presenters was impactful."

The Richmond Fed's next installment of CORE takes place in late September and will feature two mini-conferences: the Advances in Applied Macroeconometrics Conference and the Macro-Development Insights Conference.