Economy

Pablo D. Azar, Adrian G. Casillas, and Maryam Farboodi Decentralized Finance, or DeFi, is a rapidly growing ecosystem of financial…

Ben Hyman, Brian Kovak, and Adam Leive  Despite the existing safety net, worker displacement continues to have severe consequences that…

Thomas Klitgaard The consumer price index for groceries has risen more than the overall price index since the start of…

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…