William Gamber
I am a Senior Economist in the Division of Research and Statistics of the Federal Reserve Board of Governors.
The views expressed here are my own and do not necessarily represent the views of the Federal Reserve Board of Governors, the Federal Reserve System, or the Federal Open Market Committee.
CV (updated September 2025)
email: will [dot] gamber [at] frb [dot] gov
Working Papers
Household Consumption Does Not Respond Directly to Interest Rates: Evidence From 10 Macroeconomic Shocks with Edmund Crawley (updated May 2026) FEDS Working Paper Version
Firm Dynamics, Inflation, and the Transmission of Monetary Policy (updated May 2026) FEDS Working Paper Version
Refereed Publications
The Importance of Entry in the Business Cycle: What are the Roles of Markups, Adjustment Costs, and Heterogeneity? (Journal of Political Economy: Macroeconomics, September 2023). Final pre-print version
Stuck at Home: Housing Demand during the COVID-19 Pandemic with James Graham and Anirudh Yadav (Journal of Housing Economics, March 2023)
Other Publications
Debt Payments and Spending: Evidence from the 2023 Student Loan Payment Restart with Aditya Aladangady, Edmund Crawley, Patrick Moran, and Jose Nino (FEDS Note, September 2025)
Wealth Heterogeneity and Consumer Spending with Samara Beach and Patrick Moran (FEDS Note, August 2025)
Winners and losers from recent asset price changes with Edmund Crawley (FEDS Note, May 2023)