ECONOMY
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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…
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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…
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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…
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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…
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Why Does the U.S. Always Run a Trade Deficit?
Thomas Klitgaard The obvious answer to the question of why the United States runs a trade deficit is that its…
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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…
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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…
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The College Economy: Educational Differences in Labor Market Outcomes
Rajashri Chakrabarti, Thu Pham, Beckett Pierce, and Maxim Pinkovskiy It is intuitive that workers with higher levels of education tend to…
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Who Finances Real Sector Lenders?
Nina Boyarchenko, Hyuntae Choi, and Leonardo Elias The modern financial system is complex, with funding flowing not just from the…
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An Interoperability Framework for Payment Systems
Jon Durfee, Michael Junho Lee, and Joseph Torregrossa Novel payment systems based on blockchain networks promise to redesign financial architecture,…
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