Gara Afonso, Marco Cipriani, JC Martinez, and Matthew Plosser Banks use central bank reserves for a multitude of purposes including making payments,…
Category:
ECONOMY
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Marco Del Negro, Ibrahima Diagne, Pranay Gundam, Donggyu Lee, and Brian Pacula This post presents an update of the economic forecasts generated…
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Jaison R. Abel, Richard Deitz, Sebastian Heise, Ben Hyman, and Nick Montalbano U.S. import tariffs increased to historically high rates in recent…
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Richard Audoly and Roshie Xing A puzzling feature of official U.S. employment statistics in recent years has been the increase in the…
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Gabriel Leonard, Donald Morgan, and Wilbert van der Klaauw One criticism of overdraft credit is that the fees seem borne disproportionately by…
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Richard Crump and Nikolay Gospodinov Since World War II, the U.S. economy has experienced twelve recessions—one every sixty-four months, on average. Though…
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Thomas Klitgaard The obvious answer to the question of why the United States runs a trade deficit is that its export sales…
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Nicola Cetorelli, Gonzalo Cisternas, and Asani Sarkar Nonbank financial institutions (NBFIs) constitute a variety of entities—fintech companies, mutual funds, hedge funds, insurance…
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Nina Boyarchenko, Hyuntae Choi, and Leonardo Elias The modern financial system is complex, with funding flowing not just from the financial sector…
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Rajashri Chakrabarti, Thu Pham, Beckett Pierce, and Maxim Pinkovskiy It is intuitive that workers with higher levels of education tend to earn more…