Economy
-
Reserves and Where to Find Them
Gara Afonso, Marco Cipriani, JC Martinez, and Matthew Plosser Banks use central bank reserves for a multitude of purposes including…
Read More » -
How Uncertain Is the Estimated Probability of a Future Recession?
Richard Crump and Nikolay Gospodinov Since World War II, the U.S. economy has experienced twelve recessions—one every sixty-four months, on…
Read More » -
How Much Does Immigration Data Explain the Employment-Gap Puzzle?
Richard Audoly and Roshie Xing A puzzling feature of official U.S. employment statistics in recent years has been the increase…
Read More » -
Are Businesses Absorbing the Tariffs or Passing Them On to Their Customers?
Jaison R. Abel, Richard Deitz, Sebastian Heise, Ben Hyman, and Nick Montalbano U.S. import tariffs increased to historically high rates…
Read More » -
Who’s Paying Those Overdraft Fees?
Gabriel Leonard, Donald Morgan, and Wilbert van der Klaauw One criticism of overdraft credit is that the fees seem borne…
Read More » -
Nonbanks and Banks: Alone or Together?
Nicola Cetorelli, Gonzalo Cisternas, and Asani Sarkar Nonbank financial institutions (NBFIs) constitute a variety of entities—fintech companies, mutual funds, hedge…
Read More » -
Student Loan Delinquencies Are Back, and Credit Scores Take a Tumble
Andrew F. Haughwout, Donghoon Lee, Daniel Mangrum, Joelle Scally, and Wilbert van der Klaauw This morning, the Center for Microeconomic…
Read More » -
The Origins of Market Power in DeFi
Pablo D. Azar, Adrian G. Casillas, and Maryam Farboodi In our previous Liberty Street Economics post, we introduced the decentralized…
Read More » -
Gauging the Strength of China’s Economy in Uncertain Times
Jeffrey B. Dawson and Hunter L. Clark Amid increasing pressure on the Chinese economy from China’s trade conflict with the…
Read More » -
Stablecoins and Crypto Shocks: An Update
Kenechukwu Anadu, Pablo D. Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine…
Read More »