Jonathan Rose

Historian of the Federal Reserve System, Senior Economist and Economic Advisor

About Bank Publications Working Papers Selected External Publications

About

Jonathan Rose serves the Federal Reserve System in two roles. First, he is the historian of the Federal Reserve System, hosted by the Federal Reserve Bank of St. Louis. In that role, he bridges the past and the present for policymakers, researchers, students, educators, and the general public. Second, he is senior economist and economic advisor at the Federal Reserve Bank of Chicago. In that role, he is responsible for providing knowledge leadership, executing economic analysis of financial conditions, and conducting academic-style research relevant to the Federal Reserve’s mission.

Rose’s research focuses on the economic history of the United States, including topics in the Great Depression, the residential mortgage market, and the Federal Reserve System.

Rose earned a BA in mathematics and economics from Columbia University and a PhD in economics from University of California at Berkeley. Rose has also served at the Board of Governors of the Federal Reserve System and the United States Department of Treasury.

Bank Publications

Chicago Fed Insights

What Happened to Subprime Auto Loans During the Covid-19 Pandemic?

Tanya Bakshi, Jonathan Rose | 2021 | June

Chicago Fed Letter

A Retrospective on the Crypto Runs of 2022

Radhika Patel, Jonathan Rose | 2023 | No. 479 | May Download

How Common Was Blockbusting in the Postwar U.S.?

Katherine Bennett, Daniel Hartley, Jonathan Rose | 2022 | No. 468 | July Download

What Are the Consequences of Missed Payments on Consumer Debts?

Jonathan Lanning, Jonathan Rose | 2020 | No. 437 | May Download

Housing Markets in a Time of Crisis: A Historical Perspective

Price Fishback, Jonathan Rose, Ken Snowden | 2020 | No. 433 | March Download

Economic Perspectives

Yield Curve Control in the United States, 1942 to 1951

Jonathan Rose | 2021 | No. 2 | October Download

Policy Brief

Revisiting How Two Federal Housing Agencies Propagated Redlining in the 1930s

Jonathan Rose | 2022 | April

Working papers

Working Papers

Rushing to Judgment and the Banking Crisis of 2023

Steven Kelly, Jonathan Rose | 2025 | No. 2025-04 | March Download

The Racial Dynamics of U.S. Neighborhoods and Their Housing Prices from 1950 Through 1990

Daniel Hartley, Jonathan Rose, Becky Schneirov | 2024 | No. 2024-22 | October Download

Blockbusting and the Challenges Faced by Black Families in Building Wealth through Housing in the Postwar United States

Daniel Hartley, Jonathan Rose | 2023 | No. 2023-02 | January Download

Destruction, Policy, and the Evolving Consequences of Washington, DC’s 1968 Civil Disturbance

Leah Brooks, Jonathan Rose, Stan Veuger | 2022 | No. 2022-29 | July Download

New Evidence on Redlining by Federal Housing Programs in the 1930s

Price Fishback, Jonathan Rose, Ken Snowden, Thomas Storrs | 2022 | No. 2022-01 | January Download

Contract Choice in the Interwar US Residential Mortgage Market

Jonathan Rose | 2018 | No. 2018-13 Download

Selected External Publications

Acceptances in Academic Journals and Books

Fishback, Price, Jonathan Rose, Ken Snowden, and Thomas Storrs, 2024, “New evidence on redlining by federal housing programs in the 1930s,” Journal of Urban Economics, Vol. 141, 103462, May. 20240501050000

Rose, Jonathan, 2023, “Old-Fashioned Deposit Runs,” Quarterly Journal of Finance, Vol. 13, No. 3, September. 20230901050000

Rose, Jonathan, 2022, “Reassessing the magnitude of housing price declines and the use of leverage in the Depressions of the 1890s and 1930s,” Real Estate Economics, Vol. 50, No. 4, Winter, pp. 907–930. 20221201060000

Rose, Jonathan, 2021, “Short-term residential mortgage contracts in American economic history,” Explorations in Economic History, Vol. 79, January, (accepted July 20, 2020). 20210101060000

Fishback, Price, Sebastián Fleitas, and Jonathan Rose, 2020, “Collateral damage: The impact of foreclosures on new home mortgage lending in the 1930s,” Journal of Economic History, Vol. 80, No. 3, September, pp. 853–885, (accepted February 14, 2020). 20200901050000

Brooks, Leah, Jonathan Rose, and Stan Veuger, “Destruction, policy, and the evolving consequences of Washington, DC’s 1968 civil disturbance,” Review of Economics and Statistics, forthcoming.

Blog

With Price Fishback, Sebastian Fleitas, and Kenneth Snowden, 2019, Voxeu, blog, January 18; discussion of NBER working paper, No. 25246. Collateral Damage: Foreclosures and New Mortgage Lending in the 1930s