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Scott A. Brave

Senior Policy Economist

Scott A. Brave is a senior policy economist in the economic research department of the Federal Reserve Bank of Chicago. His chief responsibilities include the releases for the Chicago Fed's National Activity, Midwest Economy and Financial Conditions Indexes and its Survey of Business Conditions. Brave received a B.A. in economics with honors from the University of Chicago and an M.B.A. with concentrations in economics, statistics and finance from the University of Chicago Booth School of Business.

Chicago Fed Letter
What Does Labor Market Tightness Tell Us About the End of an Expansion?
Scott A. Brave, David Kelley | 2018 | No. 403 Download
Introducing the Chicago Fed’s New Adjusted National Financial Conditions Index
Scott A. Brave, David Kelley | 2017 | No. 386 Download
Tracking Detroit’s Economic Recovery After Bankruptcy with a New Index
Scott A. Brave, Paul Traub | 2017 | No. 376 Download
Using Private Sector “Big Data” as an Economic Indicator: The Case of Construction Spending
Daniel Aaronson, Scott A. Brave, Ross Cole | 2016 | No. 366 Download
Is There Still Slack in the Labor Market?
Daniel Aaronson, Scott A. Brave, David Kelley | 2016 | No. 359 Download
Using the Federal Reserve’s Beige Book to Track Economic Activity
Scott A. Brave, Thomas Walstrum | 2014 | No. 328 | November Download
Estimating the Trend in Employment Growth
Daniel Aaronson, Scott A. Brave | 2013 | No. 312 | July Download
Estimating the Trend Rate of Economic Growth Using the CFNAI
Scott A. Brave, R. Andrew Butters | 2013 | No. 311 | June Download
Detecting Early Signs of Financial Instability
Scott A. Brave, R. Andrew Butters | 2012 | No. 305 | December Download
A Different Way to Review the Chicago Fed National Activity Index
Scott A. Brave, Max Lichtenstein | 2012 | No. 298 | May Download
Predicting Gross State Product Growth with the Chicago Fed’s Midwest Economy Index
Scott A. Brave, Norman Wang | 2011 | No. 293 | December Download
A Snapshot of the Midwest Economy: Past and Present
Scott A. Brave, Chenfei Lu | 2010 | No. 280 | November Download
Chicago Fed National Activity Index Turns Ten—Analyzing Its First Decade of Performance
Scott A. Brave, R. Andrew Butters | 2010 | No. 273 | April Download
The Chicago Fed National Activity Index and Business Cycles
Scott A. Brave | 2009 | No. 268 | November Download
How Does Labor Adjustment in This Recession Compare with the Past?
Daniel Aaronson, Scott A. Brave | 2009 | No. 263 | June Download
Economic Trends and the Chicago Fed National Activity Index
Scott A. Brave | 2008 | No. 250 | May Download
Economic Perspectives
The Chicago Fed Survey of Business Conditions: Quantifying the Seventh District’s Beige Book Report
Scott A. Brave, Thomas Walstrum, Jacob Berman | 2015 | Vol. 39 | 3rd Quarter Download
Nowcasting Using the Chicago Fed National Activity Index
Scott A. Brave, R. Andrew Butters | 2014 | Vol. 38 Download
Monitoring Financial Stability: A Financial Conditions Index Approach
Scott A. Brave, R. Andrew Butters | 2011 | Vol. 35 | No. 2011-1 Download
In Search of a Robust Inflation Forecast
Scott A. Brave, Jonas D. M. Fisher | 2004 | Vol. 28 | No. 2004-4 | November | 4th Quarter Download

Working Papers
Forecasting Economic Activity with Mixed Frequency Bayesian VARs (Revised July 2018)
Scott A. Brave, R. Andrew Butters, Alejandro Justiniano | 2016 | No. 2016-05 Download
The Chicago Fed DSGE Model
Scott A. Brave, Jeffrey R. Campbell, Jonas D. M. Fisher, Alejandro Justiniano | 2012 | No. 2012-02 | August Download
Federal Reserve Policies and Financial Market Conditions during the Crisis (REVISED July 2011)
Scott A. Brave, Hesna Genay | 2011 | No. 2011-04 | May Download
Gathering Insights on the Forest from the Trees: A New Metric for Financial Conditions
Scott A. Brave, R. Andrew Butters | 2010 | No. 2010-07 | January Download

In Search of the Holy Grail: Team Chemistry and Where to Find It (Updated January 2018)

With R. Andrew Butters and Kevin A. Roberts, 2017, working paper, June 30. Updated January 31, 2018.

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