ECONOMY
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How Shadow Banking Reshapes the Optimal Mix of Regulation
Kinda Hachem Decisions that are privately optimal often impose externalities on other agents, giving rise to regulations aimed at implementing…
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Who Lends to Households and Firms?
Nina Boyarchenko and Leonardo Elias The financial sector in the U.S. economy is deeply interconnected. In our previous post, we…
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The Rise in Deposit Flightiness and Its Implications for Financial Stability
Kristian Blickle, Jian Li, Xu Lu, and Yiming Ma Deposits are often perceived as a stable funding source for banks.…
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The Fed’s Treasury Purchase Prices During the Pandemic
Ellen Correia Golay, Maximilian Dunn, Michael J. Fleming, Peter Johansson, Isabel Krogh, Or Shachar, and Joshua Younger In March 2020, the…
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Credit Score Impacts from Past Due Student Loan Payments
Daniel Mangrum and Crystal Wang In our companion post, we highlighted how the pandemic and subsequent policy actions disrupted trends…
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New Dataset Maps Losses from Natural Disasters to the County Level
Matteo Crosignani and Martin Hiti The Federal Reserve’s mission and regional structure ask that it always work to better understand…
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Financial Intermediaries and the Changing Risk Sensitivity of Global Liquidity Flows
Stefan Avdjiev and Linda S. Goldberg Global risk conditions, along with monetary policy in major advanced economies, have historically been…
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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…
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The New York Fed DSGE Model Forecast—June 2025
Marco Del Negro, Ibrahima Diagne, Pranay Gundam, Donggyu Lee, and Brian Pacula This post presents an update of the economic…
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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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