Behavioral economic research has established that defaults, one form of nudge, powerfully influence choices. In most policy contexts, all…
State and local government pension funds in the United States collectively manage a very large and diverse pool of assets to meet the even…
Relative to the size of the economy, U.S. federal debt is larger now than at any time since the end of World War II. Under current policies…
Governments often require that products carry warnings to inform people about risks. The warnings approach, as opposed to the command and…
We demonstrate in a stylized banking network that a single large loss has the potential to leave markedly different impacts on the…
This article is based on the author's Homer Jones Memorial Lecture delivered at the Federal Reserve Bank of St. Louis, April 6, 2016.
Two big questions look somewhat different than they did 10 or 20 years ago. First: would the long-term trend of globalization continue?…