ECONOMY
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Same Shock, Different Roads? A K-Shaped Pattern at the Pump
Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim Pinkovskiy In March 2026, energy prices surged to a four-year high, driven…
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Honey, Who Shrunk the U.S. Income Surplus?
Matthew Higgins and Thomas Klitgaard Foreign holdings of U.S. financial assets are immense, with official estimates putting their current market…
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Remote Work Leaves Younger Workers Sidelined
Natalia Emanuel, Emma Harrington, and Amanda Pallais Youth unemployment has risen dramatically since the pandemic—as has the prevalence of remote…
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Struggling Regional Small Businesses Deeply Pessimistic About 2026 Prospects
Will Aarons and Asani Sarkar We recently updated the suite of indicators describing the performance of small businesses in the…
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The Unintended Effects of Interest Rate Caps: Credit Rationing for Risky Borrowers
Rajashri Chakrabarti, Gabriel Leonard, Donald P. Morgan, Thu Pham, and Lee Seltzer In imperial China, 3 percent was the maximum…
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The Unintended Effects of Interest Rate Caps: Credit Reallocation to Safer Borrowers
Rajashri Chakrabarti, Gabriel Leonard, Donald P. Morgan, Thu Pham, and Lee Seltzer Several states have recently capped consumer loan rates…
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Food Insecurity and Consumer Pessimism
Gizem Kosar, Ishva Mehta, and Wilbert van der Klaauw Current discussions regarding a bifurcated U.S. economy highlight the increasing economic…
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The Regional Side of the Story: K-Shaped Pattern in Region, Wider Gap in Gas Spending
Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim L. Pinkovskiy In this post, we use the inaugural release of our…
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Assessing the Current State of Wage Inflation
Martin Almuzara, Richard Audoly, and Davide Melcangi Economists often look at nominal wage growth to gauge labor market imbalances, price…
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The Global Credit Cycle in Corporate Bond Returns
Nina Boyarchenko and Leonardo Elias The global corporate nonfinancial bond market is both a large investment asset class and a…
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