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Person

Ross Cohen-Kristiansen

Contributing Author

Ross Cohen-Kristiansen is a contributing author and former employee of the Federal Reserve Bank of Cleveland.

    • Economic Commentaries

      • Economic Commentary
        An Update on Wealth Mobility
        Daniel R. Carroll Ross Cohen-Kristiansen
        12.19.2022 | EC 2022-17
        This update confirms previous findings that large upward movements in wealth are associated with families’ owning businesses and real estate other than a primary residence.

        Topics: Economic mobility, Econometrics, modeling, and forecasting
      • Economic Commentary
        Evaluating Homeownership as the Solution to Wealth Inequality
        Daniel R. Carroll Ross Cohen-Kristiansen
        12.20.2021 | EC 2021-22
        Homeownership presents an opportunity to accumulate wealth, making it an appealing vehicle for reducing wealth inequality. We find that the opportunity for leveraged returns can lead to wealth gains among lower-income households but note that homeownership for low-income homeowners carries risks that are higher for them than for high-income homeowners.

        Topics: Financial well-being
      • Economic Commentary
        Why Are Headline PCE and Median PCE Inflations So Far Apart?
        Daniel R. Carroll Ross Cohen-Kristiansen
        10.02.2020 | EC 2020-24
        Mean (or headline) PCE inflation has typically fallen below median PCE inflation, and since 2012 the difference has been large. To understand the reasons for this trend, we investigate which components of the headline measure are contributing to the difference. We find that energy components, which frequently undergo wide price swings, and electronics, which have been steadily decreasing in price for decades, explain most of the difference between the two inflation measures. We argue that the outsized impacts of such components on headline PCE inflation reinforce the need for policymakers to consider both headline and median PCE inflation measures.

        Topics: Inflation
      • Economic Commentary
        The 1918 Flu and COVID-19 Pandemics: Different Patients, Different Economy
        Ross Cohen-Kristiansen Roberto B. Pinheiro
        06.22.2020 | EC 2020-13
        Many observers seeking historical precedent for COVID-19 draw on the 1918 influenza pandemic. In this Commentary, we highlight the differences between the 1918 flu and COVID-19 pandemics in terms of the most significantly affected populations. We also show key differences in the US economy in the late 1910s and now. Not only did the 1918 influenza virus primarily affect significantly younger cohorts, but the US economy’s industry and geographic distributions were notably different at the time compared to today’s. Consequently, caution is needed when using the 1918 influenza pandemic as a guideline for implementing and evaluating policy responses to COVID-19.

        Topics: Public health crises