Economy

Danial Lashkari and Jeremy Pearce Throughout the twentieth century, steady technological and organizational innovations, along with the accumulation of productive…

Marco Del Negro, Keshav Dogra, Pranay Gundam, Donggyu Lee, and Brian Pacula This post and the next discuss the distributional…

Marco Del Negro, Keshav Dogra, Pranay Gundam, Donggyu Lee, and Brian Pacula This post discusses the distributional consequences of an…

Guillaume Roussellet Since the late 1990s, the U.S. Treasury has issued debt in two main forms: nominal bonds, which provide…

Rajashri Chakrabarti, Natalia Emanuel, and Ben Lahey  Disparities in wealth are pronounced across racial and ethnic groups in the United…

Sebastian Heise and Ayşegül Şahin U.S. inflation surged in the early post-COVID period, driven by several economic shocks such as…

Viral V. Acharya, Nicola Cetorelli, and Bruce Tuckman Nonbank financial institutions (NBFIs) are growing, but banks support that growth via…

Viral Acharya, Nicola Cetorelli, and Bruce Tuckman Traditional approaches to financial sector regulation view banks and nonbank financial institutions (NBFIs)…

Viral V. Acharya, Nicola Cetorelli, and Bruce Tuckman In our previous post, we documented the significant growth of nonbank financial…

Beverly Hirtle and Anna Kovner  In March of 2023, the U.S. banking industry experienced a period of significant turmoil involving…