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Meet the Researchers

Photo of Francisco Palomino

Francisco Palomino

Chief Capital Markets Section Research and Statistics
202-452-5220
[email protected]

Education

  • Ph.D., Financial Economics, Carnegie Mellon University, 2007
  • M.S., Financial Economics, Carnegie Mellon University, 2005
  • M.S., Computational Finance, Carnegie Mellon University, 2003
  • B.S., Industrial Engineering, Universidad de los Andes, 1998
  • Economist

    Board of Governors of the Federal Reserve System

    2015 - present
  • Assistant Professor of Finance

    University of Michigan

    2007 - 2015
  • Quantitative Analyst

    Banco de la República

    1998 - 2002
  • Gone with the Vol: A Decline in Asset Return Predictability During the Great Moderation
    Alex Hsu, Francisco Palomino, and Liang Qian
    Management Science (2023)
    https://doi.org/10.1287/mnsc.2022.4429
  • Real and Nominal Equilibrium Yield Curves
    Alex Hsu, Erica X. N. Li, and Francisco Palomino
    Management Science (2021)
    https://doi.org/10.1287/mnsc.2019.3472
  • Interest Coverage Ratios: Assessing Vulnerabilities in Nonfinancial Corporate Credit
    Jack McCoy, Francisco Palomino, Ander Pérez-Orive, Charles Press, and Gerardo Sanz-Maldonado
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2779
  • The Information in Interest Coverage Ratios of the US Nonfinancial Corporate Sector
    Francisco Palomino, Stephen Paolillo, Ander Pérez-Orive, and Gerardo Sanz-Maldonado
    FEDS Notes (2019)
    https://doi.org/10.17016/2380-7172.2290
  • The Relationship between Macroeconomic Overheating and Financial Vulnerability: A Narrative Investigation
    Elena Afanasyeva, Seung Jung Lee, Michele Modugno, and Francisco Palomino
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2253
  • The Relationship between Macroeconomic Overheating and Financial Vulnerability: A Quantitative Exploration
    Elena Afanasyeva, Seung Jung Lee, Michele Modugno, and Francisco Palomino
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2254
  • The Potential Increase in Corporate Debt Interest Rate Payments from Changes in the Federal Funds Rate
    Ashish Kumbhat, Francisco Palomino, and Ander Pérez-Orive
    FEDS Notes (2017)
    https://doi.org/10.17016/2380-7172.2076
  • Term Premium Dynamics and the Taylor Rule
    Michael Gallmeyer, Burton Hollifield, Francisco Palomino, and Stanley Zin
    Quarterly Journal of Finance (2017)
    https://doi.org/10.1142/S2010139217500112
  • Corporate Bond Issuers' Swap Exposure to Rising Interest Rates
    Rick Ogden, Francisco Palomino, Nitish Sinha, and Youngsuk Yook
    FEDS Notes (2016)
    https://doi.org/10.17016/2380-7172.1776
  • Leisure Preferences, Long-Run Risks, and Human Capital Returns
    Robert F. Dittmar, Francisco Palomino, and Wei Yang
    Review of Asset Pricing Studies (2016)
    https://doi.org/10.1093/rapstu/raw001
  • A Simple Nonnegative Process for Equilibrium Models
    Alex Hsu and Francisco Palomino
    Economics Letters (2015)
    https://doi.org/10.1016/j.econlet.2015.04.012
  • Nominal Rigidities, Asset Returns, and Monetary Policy
    Erica X. N. Li and Francisco Palomino
    Journal of Monetary Economics (2014)
    https://doi.org/10.1016/j.jmoneco.2014.05.004
  • Bond Risk Premiums and Optimal Monetary Policy
    Francisco Palomino
    Review of Economic Dynamics (2012)
    https://doi.org/10.1016/j.red.2010.05.003
  • Arbitrage-Free Bond Pricing with Dynamic Macroeconomic Models
    Michael F. Gallmeyer, Burton Hollifield, Francisco J. Palomino, and Stanley E. Zin
    Federal Reserve Bank of St. Louis Review (2007)
Awards
  • 2007

    Carnegie Mellon University

    Alexander Henderson Award for Excellence in Economic Theory

  • 2006

    Inquire UK and Inquire Europe - EFA

    Best Doctoral Tutorial Paper Prize

  • 1998

    Universidad de los Andes

    Graduation with Honors

Conference Organization

  • 2008, 2009, 2012 | University of Michigan

    Mitsui Finance Symposium on Financial Markets

    Committee member

  • 2019, 2020 | Federal Reserve Board

    Internal FRB Macro-Asset Pricing Workshop

    Co-organizer

Referee
  • American Economic Review
  • Economic Letters
  • Journal of Banking and Finance
  • Journal of Monetary Economics
  • Journal of Money, Credit and Banking
  • Management Science
  • The Journal of Finance
  • The Review of Economics and Statistics
  • The Review of Financial Studies
  • Review of Economic Dynamics
  • Review of Finance
  • Revista Colombiana de Estadística
  • Studies in Nonlinear Dynamics & Econometrics
Professional Affiliation
  • American Economic Association
  • American Finance Association
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Last Update: August 2, 2024