ECONOMY
-
The Disparate Outcomes of Bank- and Nonbank-Financed Private Credit Expansions
Nina Boyarchenko and Leonardo Elias Long-run trends in increased access to credit are thought to improve real activity. However, “rapid”…
Read More » -
When Are Central Bank Reserves Ample?
Gara Afonso, Domenico Giannone, Gabriele La Spada, and John C. Williams The Federal Reserve (Fed) implements monetary policy in a…
Read More » -
A New Set of Indicators of Reserve Ampleness
Gara Afonso, Kevin Clark, Brian Gowen, Gabriele La Spada, JC Martinez, Jason Miu, and Will Riordan The Federal Reserve (Fed)…
Read More » -
Mortgage Lock-In Spurs Recent HELOC Demand
Andrew Haughwout, Donghoon Lee, Daniel Mangrum, Joelle W. Scally, and Wilbert van der Klaauw Mortgage balances, the largest component of…
Read More » -
The Anatomy of Labor Demand Pre- and Post-COVID
Richard Audoly, Miles Guerin, Giorgio Topa, and Roshie Xing Has labor demand changed since the COVID-19 pandemic? In this post,…
Read More » -
The DeFi Intermediation Chain – Liberty Street Economics
Pablo D. Azar, Adrian G. Casillas, and Maryam Farboodi Decentralized Finance, or DeFi, is a rapidly growing ecosystem of financial…
Read More » -
Is the Recent Inflationary Spike a Global Phenomenon?
Martín Almuzara, Babur Kocaoglu, and Argia Sbordone In the aftermath of the COVID-19 pandemic, inflation rose almost simultaneously in most economies…
Read More » -
What Was Up with Grocery Prices?
Thomas Klitgaard The consumer price index for groceries has risen more than the overall price index since the start of…
Read More » -
Wage Insurance: A Potential Policy for Displaced Workers
Ben Hyman, Brian Kovak, and Adam Leive Despite the existing safety net, worker displacement continues to have severe consequences that…
Read More » -
Supply Chain Disruptions Have Eased, But Remain a Concern
Jaison R. Abel and Richard Deitz Supply chain disruptions became a major headache for businesses in the aftermath of the…
Read More »