While the Panel Study of Income Dynamics (PSID) has much to offer researchers studying household behavior, one limitation is that its…
The United States Federal Reserve has some reasons to cut interest rates at its July 31 meeting, or subsequently if the U.S. economy…
US President Donald Trump’s intended nominee for the US Federal Reserve Board, Stephen Moore, may end up doing whatever Trump wants,…
We study the problem of allocating multiple items to two agents whose cardinal preferences are private information. If money is available,…
This paper studies external sovereign bonds as an asset class. We compile a new database of 220,000 monthly prices of foreign-currency…
As the global economy weakens and markets grow more volatile, it is hard to imagine a worse time to stop 25% of US federal spending for…
Two distinct questions are of interest. (1) To what extent should the central bank be constrained, versus being allowed full discretion…
Following the crisis of 2008, several central banks engaged in a new experiment by setting negative policy rates. Using aggregate and bank…