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I joined the Johns Hopkins Department of Economics in 2006, leaving a post as Assistant Director in the Division of International Finance at the Federal Reserve Board. My nearly two decades as a researcher in a central bank taught me two lessons. First, formal analysis, both theoretical and applied, can and does make an immense contribution to improving the conduct of policy. Second, fundamental advances over the last 20 years—say, in basic econometric techniques, in modelling dynamic systems in which expectations are important, and in data sources—provide an opportunity for historically rapid advance in our understanding of macroeconomic policymaking over the coming years. My reasearch spans a broad array of theoretical and applied topics confronted by macroeconomic policymakers--econometric measurement of policy effects, political economy of policy, and understanding macro-financial linkages. Selected work is listed below, more generally see my main homepage. Selected Papers:Efficient Predictive Regressions. Faust, Jon and Wright, Jonathan H. Manuscript, 2005. The High Frequency Response of Exchange Rates and Interest Rates to Macroeconomic Announcements. Faust, Jon, Rogers, John H., Wang, Shing-Yi, and Wright, Jonathan H.. Forthcoming, Journal of Monetary Economics, 2005. Breaks in the variability and co-movement of G-7 economic growth. Doyle, Brian M. and Faust, Jon. Review of Economics and Statistics, 7(4), Nov. 2005, 721-740. Transparency and Credibility: Monetary Policy with Unobservable Goals. Faust, Jon, and Svensson, Lars E. O.. International Economic Review, May 2001, v. 42, iss. 2, pp. 369-97. Conventional Confidence Intervals for Points on Spectrum Have Confidence Level Zero. Faust, Jon. Econometrica, May 1999, v. 67, iss. 3, pp. 629-37. Options, Sunspots, and the Creation of Uncertainty. Bowman, David and Faust, Jon. Journal of Political Economy, October 1997, v. 105, iss. 5, pp. 957-75. A Distributed Block Approach to Solving Near-Block-Diagonal Systems with an Application to a Large Macroeconometric Model. Faust, Jon and Tryon, Ralph. Computational Economics, November 1995, v. 8, iss. 4, pp. 303-16. When Are Variance Ratio Tests for Serial Dependence Optimal? Faust, Jon. Econometrica, September 1992, v. 60, iss. 5, pp. 1215-26. Supernovas in Monetary Theory: Does the Ultimate Sunspot Rule Out Money?. Faust, Jon. American Economic Review, September 1989, v. 79, iss. 4, pp. 872-81.
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