Patricia C. Mosser is Director of the MPA Program in Economic Policy Management at Columbia University’s School of International and Public Affairs and leads the School’s Initiative on Central Banking and Financial PolicyPreviously, she was head of Research and Analysis at the Office of Financial Research, U.S. Treasury.  Mosser spent over 20 years at the Federal Reserve Bank of New York where she was senior manager at the New York Fed’s open market desk overseeing financial market analysis, monetary policy implementation, crisis-related facilities, foreign exchange and investment operations, and analysis of financial stability and reform. In 2009, she was SOMA manager for the FOMC.  She previously served as an economist and manager in the New York Fed Research Department and as an assistant professor in the Economics Department at Columbia.  Mosser has written on financial stability and monetary policy topics including financial reform, crisis policy tools, cyber risks to financial stability, and the monetary transmission mechanism.  She was previously a consultant to the Bank of England, a member of the Deputies Committee of the Financial Stability Oversight Council, and a board member of the American Economic Association’s Committee on the Status of Women in the Economics Profession.  Currently, she serves as an outside director of Nomura Holdings Incorporated.    She received a BA from Wellesley College, an MSc with distinction from the LSE, and a PhD from MIT.



 

Research & Publications

May 2021|Journal of Financial Transformation|Patricia Mosser, Jason Healey, Katheryn Rosen, Alexander Wortman
February 2021|Liberty Street Economics, Federal Reserve Bank of New York|Patricia Mosser
November 2020|Business Economics, National Association of Business Economists|Patricia Mosser
January 2020|Yale University Press|Patricia Mosser, William B. English

Chapter 2, First Responders: Inside the U.S. Strategy for Fighting the 2007-2009 Global Financial Crisis, B Bernanke, T. Geithner and H. Paulson (eds)

September 2019|THE CHANGING ROLE OF THE STATE: Rediscovering the Path to Stable Growth in Brazil |Patricia Mosser
December 2018|Lawfare|Patricia Mosser, Katheryn Rosen, Jason Healey, Alexander Wortman
October 2018|Brookings Report|Patricia Mosser, Jason Healey, Katheryn Rosen, Adriana Tache
September 2018|Brookings Institution|Patricia Mosser, William B. English
February 2016|Housing Finance Reform Incubator, Housing Finance Policy Center, The Urban Institute|Patricia Mosser
February 2016|Rethinking the Central Bank’s Mandate, Sveriges Riksbank Economic Review|Patricia Mosser
July 2013|with Joseph Tracy and Joshua Wright, Staff Reports #644, Federal Reserve Bank of New York|Patricia Mosser, Joseph Tracy, Joshua Wrigh

The Capital Structure and Governance of a Mortgage Security Utility

July 2011|with T. Dechario et. al. in the American Mortgage System Crisis and Reform|Patricia Mosser, T. Dechario

A Private Lender Cooperative Utility Model for Residential Mortgage Finance

May 2011|Economic Policy Review, Vol 17 No 1, Federal Reserve Bank of New York|Patricia Mosser

Overview: Federal Reserve Policy Responses to the Financial Crisis

July 2010|Economic Policy Review, Vol 16, No 1, Federal Reserve Bank of New York|Patricia Mosser

Central Bank Liquidity Tools and Perspectives on Regulatory Reform

July 2002|with Kenneth N. Kuttner, Economic Policy Review conference Vol. 8, No.1|Patricia Mosser, Kenneth N. Kuttner

Financial Innovation and Monetary Transmission

July 2002|with Kenneth N. Kuttner, Economic Policy Review conference Vol. 8, No.1|Patricia Mosser, Kenneth N. Kuttner

The Monetary Transmission Mechanism: Some Answers and Further Questions

July 2001|Current Issues in Economics and Finance, Vol. 7, No. 10, FRBNY|Patricia Mosser, Ingo Fender, Michael S. Gibson

An International Survey of Stress Tests

July 2001|Economic Policy Review, Vol. 7, No. 3, FRBNY|Patricia Mosser, John Kambhu

The Effect of Interest Rate Option Hedging on Term Structure Dynamics

July 1999|Current Issues in Economics and Finance, Vol. 5, No. 4, FRBNY|Patricia Mosser, Paul Bennett, Frank Keane

Mortgage Refinancing and the Concentration of Mortgage Coupons

July 1999|Current Issues in Economics and Finance, Vol. 5 No.13, FRBNY|Patricia Mosser, Margaret M. McConnell , Gabriel Perez Quiros

A Decomposition of the Increased Stability of GDP Growth

July 1994|with Julia Fernald and Frank Keane, FRBNY Quarterly Review, Vol. 14, No. 3|Patricia Mosser, Julia Fernald, Frank Keane

Mortgage Security Hedging and the Yield Curve

July 1993|Causes and Consequences of the 1989-92 Credit Slowdown, FRBNY|Patricia Mosser

The Influence of the Credit Crunch on Aggregate Demand and Implications for the Effectiveness of Monetary Policy

July 1993|with C. Steindel, in Causes and Consequences of the 1989-92 Credit Slowdown, FRBNY|Patricia Mosser, C. Steindel

Economic Activity and the Recent Slowdown in Private Sector Borrowing

July 1992|Federal Reserve Bank of New York Quarterly Review|Patricia Mosser

Changes in Monetary Policy Effectiveness: Evidence from Large Macroeconometric Models

July 1991|The Quarterly Journal of Economics|Patricia Mosser

Trade Inventories and (S,s)

July 1988|Columbia University Discussion Paper, No. 395|Patricia Mosser

The (S,s) Model and Evidence on Aggregate Materials Inventories

July 1988|in The Economics of Inventory Management, Chikan, A. and M.C. Lovell (eds.), Elsevier, Amsterdam|Patricia Mosser

Empirical Tests of the (S,s) Model for Merchant Wholesalers

July 1984|with O. Eckstein and M. Cebry, Review of Economics and Statistics|Patricia Mosser, O. Eckstein , M. Cebry

The DRI Market Expectations Model