Brent Bundick

Brent Bundick is a Senior Research and Policy Advisor in the Economic Research Department of the Federal Reserve Bank of Kansas City. He rejoined the Department in 2014 after completing his Ph.D in Economics from Boston College. Prior to graduate school, Brent worked in the Department as a Research Associate and Assistant Economist. He also holds a M.S. in Mathematics and Statistics from the University of Missouri – Kansas City and a B.A. in Economics and Mathematics from the College of William and Mary. Brent's research interests are macroeconomics, monetary policy, and computational economics.

Professional Journals and Books

• "Did the Federal Reserve Break the Phillips Curve? Theory and Evidence of Anchoring Inflation Expectations,” with A. Lee Smith. The Review of Economics and Statistics, Forthcoming.
• “The Term Structure of Monetary Policy Uncertainty” with Trenton Herriford and A. Lee Smith, Journal of Economic Dynamics and Control, Volume 160, March 2024, 104803.
• "The Dynamic Effects of Forward Guidance Shocks" with A. Lee Smith, The Review of Economics and Statistics, 2020, 102(5): 946-965.  
• Book Review of "Structural Foundations of Monetary Policy" edited by Michael D. Bordo, John H. Cochrane, and Amit Seru, Journal of Economic Literature, 2019, 57(1): 182-183.
• "Uncertainty Shocks in a Model of Effective Demand: Reply" with Susanto Basu, Econometrica, Volume 86, Number 4, May 2018, Pages 1527-1531.
• "Uncertainty Shocks in a Model of Effective Demand" with Susanto Basu, Econometrica, Volume 85, Number 3, May 2017, Pages 937-958.

Economic Review Articles

• Evaluating Quantitative Easing: The Importance of Accounting for Forward Guidance
  with A. Lee Smith, Vol. 107, no. 3
• Did the Federal Reserve Anchor Inflation Expectations Too Low?
  with A. Lee Smith, Vol. 106, no. 1
• The Rise and Fall of College Tuition Inflation
  with Emily Pollard, First Quarter 2019
• How Do FOMC Projections Affect Policy Uncertainty?
  with Trenton Herriford, Second Quarter 2017
• PDFEstimating the Monetary Policy Rule Perceived by Forecasters
  Fourth Quarter 2015

Research Working Papers

• How Optimal Was U.S. Monetary Policy at the Zero Lower Bound?
  with Logan Hotz and A. Lee Smith, RWP 23-14
• The Term Structure of Monetary Policy Uncertainty
  with Trenton Herriford and A. Lee Smith, RWP 22-02
• From Deviations to Shortfalls: The Effects of the FOMC’s New Employment Objective
  with Nicolas Petrosky-Nadeau, RWP 21-04
• Did the Federal Reserve Break the Phillips Curve? Theory and Evidence of Anchoring Inflation Expectations
  with A. Lee Smith, RWP 20-11
• Should We Be Puzzled by Forward Guidance?
  with A. Lee Smith, RWP 20-01
• Uncertainty Shocks in a Model of Effective Demand: Reply
  with Susanto Basu, RWP 18-05 | zipOriginal Data and Code Files | zipUpdated Data and Code Files
• Does Communicating a Numerical Inflation Target Anchor Inflation Expectations? Evidence & Bond Market Implications
  with A. Lee Smith, RWP 18-01
• Forward Guidance, Monetary Policy Uncertainty, and the Term Premium
  with Trenton Herriford and A. Lee Smith, RWP 17-07
• The Dynamic Effects of Forward Guidance Shocks
  with A. Lee Smith, RWP 16-02
• Endogenous Volatility at the Zero Lower Bound: Implications for Stabilization Policy
   with Susanto Basu, RWP 15-01
• Uncertainty Shocks in a Model of Effective Demand
  with Susanto Basu, RWP 14-15 | zipOriginal Data and Code Files | zipUpdated Data and Code Files

Economic Bulletin

• Financial Stress May Do Relatively Little to Reduce Inflation
  with Johannes Matschke and A. Lee Smith, May 2023
• A Tight Labor Market Could Keep Rent Inflation Elevated
  with A. Lee Smith and Luca Van der Meer, March 2023
• Policymakers Have Options for Additional Accommodation: Forward Guidance and Yield Curve Control
  with A. Lee Smith, July 2020
• The Persistent Effects of the Temporary Tightening in Financial Conditions
  April 2019
• Did Communicating a Numerical Inflation Target Anchor U.S. Inflation Expectations?
  with A. Lee Smith, January 2018
• Does the Recent Decline in Household Longer-Term Inflation Expectations Signal a Loss of Confidence in the FOMC?
  with A. Lee Smith, Trenton Herriford and Emily Pollard, June 2017 
• PDFEstimating the Monetary Policy Rule Perceived by Forecasters
  December 2015
• PDFAre Longer-Term Inflation Expectations Stable?
  with Craig S. Hakkio, March 2015