Economy
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Banking System Vulnerability: 2025 Update
Matteo Crosignani, Thomas Eisenbach, and Fulvia Fringuellotti As in previous years, we provide in this post an update on the…
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Consumption Sensitivity of Uncertain Households
Davide Melcangi and Gizem Kosar Uncertainty is a key component of everyday economic decisions of consumers and, perhaps not surprisingly,…
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The Shadow Value of Central Bank Lending
Lorenzo Burlon, Nicola Pavanini, Tomas Jankauskas, and Ugo Albertazzi After the Great Financial Crisis, the European Central Bank (ECB) extended…
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A Danger to Self and Others: Consequences of Involuntary Hospitalization
Natalia Emanuel, Pim Welle, and Valentin Bolotnyy Every state in the country has a law permitting involuntary hospitalization if a…
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The Rise of Sponsored Service for Clearing Repo
Adam Copeland and R. Jay Kahn Recently instituted rule amendments have initiated a large migration of dealer-to-client Treasury repurchase trades…
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A Historical Perspective on Stablecoins
Stephan Luck Digital currencies have grown rapidly in recent years. In July 2025, Congress passed the “Guiding and Establishing National…
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The Financial Stability Implications of Tokenized Investment Funds
Pablo Azar, Francesca Carapella, JP Perez-Sangimino, Nathan Swem, and Alexandros P. Vardoulakis In a previous post, we provided background information…
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What Is Natural Disaster Clustering—and Why Does It Matter for the Economy?
Jacob Kim-Sherman and Lee Seltzer Understanding the economic and financial consequences of natural disasters is a major concern for researchers…
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Are Businesses Scaling Back Hiring Due to AI?
Jaison R. Abel, Richard Deitz, Natalia Emanuel, Ben Hyman, and Nick Montalbano The swift advancement of artificial intelligence (AI) has…
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Economic Capital: A New Measure of Bank Solvency
Beverly Hirtle and Matthew Plosser Bank supervisors, industry analysts, and academic researchers rely on a range of metrics to track…
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