ECONOMY
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Why Do Banks Fail? The Predictability of Bank Failures
Sergio Correia, Stephan Luck, and Emil Verner Can bank failures be predicted before they happen? In a previous post, we…
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Why Do Banks Fail? Three Facts About Failing Banks
Sergio Correia, Stephan Luck, and Emil Verner Why do banks fail? In a new working paper, we study more than…
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Why Investment-Led Growth Lowers Chinese Living Standards
Matthew Higgins Rapid GDP growth, due in part to high rates of investment and capital accumulation, has raised China out…
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To Whom It May Concern: Demographic Differences in Letters of Recommendation
Beverly Hirtle and Anna Kovner Letters of recommendation from faculty advisors play a critical role in the job market for…
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Banking System Vulnerability: 2024 Update
Matteo Crosignani, Thomas Eisenbach, and Fulvia Fringuellotti After a period of relative stability, a series of bank failures in 2023…
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Has Treasury Market Liquidity Improved in 2024?
Michael Fleming Standard metrics point to an improvement in Treasury market liquidity in 2024 to levels last seen before the…
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The Dueling Intraday Demands on Reserves
Adam Copeland and Sarah Yu Wang A central use of reserves held at Federal Reserve Banks (FRBs) is for the…
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Tracking Reserve Ampleness in Real Time Using Reserve Demand Elasticity
Gara Afonso, Domenico Giannone, Gabriele La Spada, and John C. Williams As central banks shrink their balance sheets to restore price stability…
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The Central Banking Beauty Contest
Gonzalo Cisternas and Aaron Kolb Expectations can play a significant role in driving economic outcomes, with central banks factoring market…
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A New Indicator of Labor Market Tightness for Predicting Wage Inflation
Sebastian Heise, Jeremy Pearce, and Jacob P. Weber A key question in economic policy is how labor market tightness affects…
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