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Meet the Researchers

Photo of Serafin J. Grundl

Serafin J. Grundl

Principal Economist Financial Structure Section Research and Statistics
202-452-2910
[email protected]

Education

  • Ph.D., Economics, University of Wisconsin, 2014
  • M.A., Economics, LMU Munich, 2008
  • B.A., Economics, LMU Munich, 2007
Current Research Topics
  • Auctions
  • Antitrust
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2017 - present
  • Economist

    Board of Governors of the Federal Reserve System

    2014 - 2017
  • Concentration and Geographic Proximity in Antitrust Policy: Evidence from Bank Mergers
    David Benson, Samuel Blattner, Serafin Grundl, You Suk Kim, and Ken Onishi
    American Economic Journal: Microeconomics (Forthcoming)
    https://doi.org/10.1257/mic.20220094
  • Robust inference in first-price auctions: Overbidding as an identifying restriction
    Serafin Grundl and Yu Zhu
    Journal of Econometrics (2023)
    https://doi.org/10.1016/j.jeconom.2022.06.001
  • The Marginal Effect of Government Mortgage Guarantees on Homeownership
    Serafin Grundl and You Suk Kim
    Journal of Monetary Economics (2021)
    https://doi.org/10.1016/j.jmoneco.2021.01.003
    See also » FRB Working Paper (2019)
  • How do Rural and Urban Retail Banking Customers Differ?
    David Benson, Serafin Grundl, and Richard Windle
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2513
  • Identification and Estimation of Risk Aversion in First-Price Auctions with Unobserved Auction Heterogeneity
    Serafin Grundl and Yu Zhu
    Journal of Econometrics (2019)
    https://doi.org/10.1016/j.jeconom.2019.02.004
    See also » FRB Working Paper (2015)
  • Robust Inference in First-Price Auctions: Experimental Findings as Identifying Restrictions
    Serafin Grundl and Yu Zhu
    Finance and Economics Discussion Series (2019)
    https://doi.org/10.17016/FEDS.2019.006
  • Consumer Mistakes and Advertising: The Case of Mortgage Refinancing
    Serafin Grundl and You Suk Kim
    Quantitative Marketing and Economics (2019)
    https://doi.org/10.1007/s11129-018-9207-3
    See also » FRB Working Paper (2017)
  • The Effect of Common Ownership on Profits: Evidence From the U.S. Banking Industry
    Jacob Gramlich and Serafin Grundl
    Finance and Economics Discussion Series (2018)
    https://doi.org/10.17016/FEDS.2018.069
  • The Branch Puzzle: Why Are there Still Bank Branches?
    Elliot Anenberg, Andrew C. Chang, Serafin Grundl, Kevin Moore, and Richard Windle
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2206
  • Empirical Relevance of Ambiguity in First-Price Auctions
    Gaurab Aryal, Serafin Grundl, Dong-Hyuk Kim, and Yu Zhu
    Journal of Econometrics (2018)
    https://doi.org/10.1016/j.jeconom.2018.02.001
  • Estimating the Competitive Effects of Common Ownership
    Jacob Gramlich and Serafin Grundl
    Finance and Economics Discussion Series (2017)
    https://doi.org/10.17016/FEDS.2017.029r1
  • Identification and Estimation of Risk Aversion in First Price Auctions with Unobserved Auction Heterogeneity
    Serafin Grundl and Yu Zhu
    Staff Working Paper (Bank of Canada) (2016)
    See also » FRB Working Paper (2015)
  • Identification of First-Price Auctions With Biased Beliefs
    Serafin J. Grundl and Yu Zhu
    Finance and Economics Discussion Series (2015)
    https://doi.org/10.17016/FEDS.2015.056
  • Essays in Industrial Organization
    Serafin Grundl
    University of Wisconsin (2014)
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Last Update: August 2, 2024