Photo of Ruth A. Judson

Ruth A. Judson

Senior Economic Project Manager Global Financial Flows Section International Finance
202-736-5612
[email protected]

Education

  • Ph.D., Economics, Massachusetts Institute of Technology, 1994
  • A.B., Russian Civilization, University of Chicago, 1987
Current Research Topics
  • Capital Flows, M2, Currency, M2 Deposit Rates
  • Monetary Policy Implementation
  • Senior Economic Project Manager, TIC

    Board of Governors of the Federal Reserve System

    2014 - present
  • Economist

    Board of Governors of the Federal Reserve System

    1994 - 2014
  • Visiting Professor

    Sloan School of Management, Massachusetts Institute of Technology

    1997
  • Visiting Professor

    Sloan School of Management, Massachusetts Institute of Technology

    2000
  • Estimating U.S. Cross-Border Securities Flows: Ten Years of the TIC SLT
    Carol Bertaut and Ruth Judson
    FEDS Notes (2022)
    https://doi.org/10.17016/2380-7172.3068
  • Elusive Safety: The New Geography of Capital Flows and Risk
    Laura Alfaro, Ester Faia, Ruth A. Judson, and Tim Schmidt-Eisenlohr
    NBER Working Paper Series (2021)
    https://doi.org/10.3386/w27048
  • International Dollar Flows
    Ayelen Banegas, Ruth Judson, Charles Sims, and Viktors Stebunovs
    International Finance Discussion Papers (2015)
    https://doi.org/10.17016/IFDP.2015.1144
  • Recent Euro-area Inflows into U.S. Bonds: Reconciling and Understanding New Data Sources
    Carol C. Bertaut and Ruth A. Judson
    IFDP Notes (2015)
    https://doi.org/10.17016/2573-2129.08
  • Estimating U.S. Cross-Border Securities Positions: New Data and New Methods
    Carol C. Bertaut and Ruth A. Judson
    International Finance Discussion Papers (2014)
    https://doi.org/10.17016/IFDP.2014.1113
  • Demand for M2 at the Zero Lower Bound: The Recent U.S. Experience
    Ruth A. Judson, Bernd Schlusche, and Vivian Wong
    Finance and Economics Discussion Series (2014)
    https://doi.org/10.17016/FEDS.2014.22
  • Sticky Deposit Rates
    John C. Driscoll and Ruth A. Judson
    Finance and Economics Discussion Series (2013)
    https://doi.org/10.17016/FEDS.2013.80
  • Crisis and Calm: Demand for U.S. Currency at Home and Abroad from the Fall of the Berlin Wall to 2011
    Ruth Judson
    International Finance Discussion Papers (2012)
    https://doi.org/10.17016/IFDP.2012.1058
  • Improving Measurement of Cross-Border Securities Holdings: The TIC SLT
    Erika Brandner, Fang Cai, and Ruth Judson
    Federal Reserve Bulletin (2012)
    https://doi.org/10.17016/bulletin.2012.98-1
  • Big Bank, Small Bank: Monetary Policy Implementation and Bank' Reserve Management Strategies
    Ruth Judson and Elizabeth Klee
    Journal of Economics & Business (2011)
    https://doi.org/10.1016/j.jeconbus.2011.01.005
  • Whither the Liquidity Effect: The Impact of Federal Reserve Open Market Operations in Recent Years
    Ruth Judson and Elizabeth Klee
    Journal of Macroeconomics (2010)
    https://doi.org/10.1016/j.jmacro.2010.01.005
    See also » FRB Working Paper (2009)
  • Currency Demand by Federal Reserve Cash Office: What Do We Know?
    Ruth A. Judson and Richard D. Porter
    Journal of Economics & Business (2004)
    https://doi.org/10.1016/j.jeconbus.2004.03.002
  • Estimating the Worldwide Volume of Counterfeit U.S. Currency: Data and Extrapolation
    Ruth Judson and Richard Porter
    Finance and Economics Discussion Series (2003)
    https://doi.org/10.17016/FEDS.2003.52
  • Measuring Human Capital Like Physical Capital: What Does It Tell Us?
    Ruth Judson
    Bulletin of Economic Research (2002)
    https://doi.org/10.1111/1467-8586.00150
  • Overseas Dollar Holdings: What Do We Know?
    Ruth A. Judson and Richard D. Porter
    Wirtschaftspolitische Blätter (2001)
  • Estimating Dynamic Panel Data Models: A Guide for Macroeconomists
    Ruth A. Judson and Ann L. Owen
    Economics Letters (1999)
    https://doi.org/10.1016/S0165-1765(99)00130-5
  • Economic Development and the Structure of the Demand for Commercial Energy
    Ruth A. Judson, Richard Schmalensee, and Thomas M. Stoker
    Energy Journal (1999)
    https://doi.org/10.5547/ISSN0195-6574-EJ-Vol20-No2-2
  • Inflation, Volatility and Growth
    Ruth Judson and Athanasios Orphanides
    International Finance (1999)
    https://doi.org/10.1111/1468-2362.00021
    See also » FRB Working Paper (1997)
  • World Carbon Dioxide Emissions: 1950-2050
    Richard Schmalensee, Thomas M. Stoker, and Ruth A. Judson
    Review of Economics and Statistics (1998)
    https://doi.org/10.1162/003465398557294
  • Economic Growth and Investment in Education: How Allocation Matters
    Ruth Judson
    Journal of Economic Growth (1998)
    https://doi.org/10.1023/A:1009763906365
  • Do Low Human Capital Coefficients Make Sense? A Puzzle and Some Answers
    Ruth Judson
    Finance and Economics Discussion Series (1997)
    https://doi.org/10.17016/FEDS.1996.13
  • Estimating Dynamic Panel Data Models: A Practical Guide for Macroeconomists
    Ruth A. Judson and Ann L. Owen
    Finance and Economics Discussion Series (1997)
    https://doi.org/10.17016/FEDS.1997.03
  • The Location of U.S. Currency: How Much Is Abroad?
    Richard D. Porter and Ruth A. Judson
    Federal Reserve Bulletin (1996)
    https://doi.org/10.17016/bulletin.1996.82-10
  • Essays on the Role of Education in Growth and Development
    Ruth Judson
    Massachusetts Institute of Technology (1994)
  • conference

    6/20/2012

    IFABS 2012, Valencia, Spain

    LIQUIDITY TRAPS: RECENT U.S. EXPERIENCE WITH DEMAND FOR M2

  • conference

    2/2012

    The usage, costs and benefits of cash: Theory and evidence from macro and micro data / Eltville, Germany

    Crisis and Calm: Demand for U.S. Currency from the Fall of the Berlin Wall to 2010

  • seminar

    9/2014

    FRB Dallas / Seminar

    New Measurements of Cross-Border Securities Positions: The TIC SLT

  • conference

    9/2014

    The usage, costs and benefits of cash revisited / Dresden, Germany

    International Demand for U.S. Banknotes: Local and Global Determinants

  • conference

    2/2014

    Recent Experiences in Currency Demand / Bank of Korea

    Demand for U.S. Banknotes Since the 2008 Crisis

  • conference

    7/2014

    WEA / Denver, CO

    International Demand for U.S. Banknotes: Local and Global Determinants

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Last Update: December 1, 2023