Niklas Kroner

Senior Economist｜Division of International Finance｜Federal Reserve Board of Governors

Welcome to my website! I conduct research in
asset pricing, macroeconomics, and international finance.

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Publications

The U.S., Economic News, and the Global Financial Cycle

with Christoph E. Boehm｜Review of Economic Studies (Forthcoming) 

Journal Link
Final WP
SSRN WP
Fed WP
NBER WP
NBER Digest
Bloomberg News
LSE USAPP Blog

Working Papers

Monetary Policy without Moving Interest Rates: The Fed Non-Yield Shock

with Christoph E. Boehm ｜September 2025｜Fed Non-Yield Shock 

Other versions:SSRN, Fed WP, NBER WP

Working Papers

Monetary Policy without Moving Interest Rates: The Fed Non-Yield Shock

with Christoph E. Boehm ｜September 2025｜Fed Non-Yield Shock 

Other versions:SSRN, Fed WP, NBER WP

How Markets Process Macro News: The Importance of Investor Attention

February 2025

Presentations: CFE 2023; GEA 2023; NASMES 2024; SED 2024; Texas Monetary Conference 2025; FRB Macro-Finance Workshop 2025; NBER SI 2025

Other versions: SSRN, Fed WP

Permanent Working Papers
Firm-Level Uncertainty and the Transmission of Forward Guidance to Investment 

October 2021

Presentations: SEA 2021; ESWM 2021; Ifo Macro & Survey 2022; Fed Board; Wake Forest; Rutgers; Exeter

Other versions:SSRN