Policy

Regulation II

  1. I work extensively on Regulation II. You can see the main landing page on Regulation II here.

    The latest Notice of Proposed Rulemaking on Regulation II was released on May 7, 2021. You can find the press release here and related Federal Register Notice here.

    The latest Final Rule on Regulation II was released on October 3, 2022. You can find the press release here and related Federal Register Notice here. This Final Rule will be effective on July 1st, 2023.

  2. I lead the data collections for the Regulation II surveys. You can find the latest release on interchange fee data here and the latest report on Interchange Fee Revenue, Covered Issuer Costs, and Covered Issuer and Merchant Fraud Losses Related to Debit Card Transactions here.

    The latest Notice proposing changes to the Regulation II survey instruments was released on July 13, 2022. The comment period ended on September 12.

    For inquiries related to the Regulation II surveys, please contact the team at debit.card.surveys@frb.gov.

International work

  1. I contributed to the October 2021 BCBS CPMI IOSCO Consultative Report on Review of Margining Practices. You can find out more about this effort here.

  2. I represent the United States in the Building Block 1 as part of the G20 Roadmap for Enhancing Cross-border Payments with the goal of designing Key Performance Indicators (KPIs) and identifying potential data sources to use and/or supplement to monitor progress toward the targets outlined in the October 2021 report published by the Financial Stability Board.

    • The interim report proposing the KPIs for measuring progress toward the G20 cross-border payments target can be found here

FEDS publications

  1. Falcettoni, Elena, and Vegard Nygaard (2021). "Acts of Congress and COVID-19: A Literature Review on the Impact of Increased Unemployment Insurance Benefits and Stimulus Checks," FEDS Notes 2021-02-24. Board of Governors of the Federal Reserve System (U.S.).

  2. Falcettoni, Elena (2020). "The Consequences of Medicare Pricing: An Explanation of Treatment Choice," Finance and Economics Discussion Series 2020-063. Board of Governors of the Federal Reserve System (U.S.).

  3. Falcettoni, Elena, and Vegard M. Nygaard (2020). "A Comparison of Living Standards Across the States of America," FEDS Notes 2020-05-28. Board of Governors of the Federal Reserve System (U.S.).

  4. Falcettoni, Elena, and Vegard M. Nygaard (2020). "A Comparison of Living Standards Across the States of America," Finance and Economics Discussion Series 2020-041. Board of Governors of the Federal Reserve System (U.S.).

Policy briefs

  1. Falcettoni, Elena, and Vegard M. Nygaard (2020). "A Comparison of Living Standards Across the States of America," Heller-Hurwicz Economics Institute Policy Brief.

Service to the Profession

Refereeing: Journal of International Economics, Review of Economics and Statistics, Journal of Public Economics, Journal of Health Economics, RAND Journal of Economics

Scientific committee: American Society of Health Economists Conference (2019, 2020, 2021, 2022), Mechanism Design for Social Good (2020), ACM conference on Equity and Access in Algorithms, Mechanisms, and Optimization (2021; area chair), Labor and Employment Relations Association Best Paper competition (2021, 2022), LERA@ASSA (2022, 2023, 2024)

Mentorship: I am a mentor for the Women in Economics mentorship program co-sponsored by the Heller-Hurwicz Economics Institute and the Department of Economics at the University of Minnesota. I also mentor research assistants at the Board extensively.

Conference organization:
2022: ACM conference on Equity and Access in Algorithms, Mechanisms, and Optimization
2021: 2nd Annual Heller-Hurwicz Economics Institute Alumni Conference (founder and organizer), American Society of Health Economics 2021 session titled “Impact of Policy Interventions on the Provision of Health Care”
2020: COVID-19 Seminar featuring Dr. Tom Inglesby and Dr. Caitlin Rivers, co-organized with Leland Crane (Board of Governors of the Federal Reserve System, Washington, DC), Inaugural Heller-Hurwicz Alumni Conference 2019: Third-Year Conference for the Industrial Organization Workshop (University of Minnesota, Minneapolis, MN)

Other: I serve as the Secretary and Director to the Board of Directors of the FRB Federal Credit Union. You can find out more about the credit union here.


All the views on this site are solely my own and do not represent the views of the Board of Governors of the Federal Reserve System or any person associated with the Federal Reserve System.