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?…
Levy Yeyati and Sturzenegger (2001, 2003, 2005) proposed an exchange
rate regime classification based on cluster analysis to group…
Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts. When official…
When it comes to the rise in economic inequality since the 1970s in the United States and some other advanced economies, it doesn’t really…
When the US Bureau of Labor Statistics releases new numbers, in theory it should make no difference whether the press release emphasizes…
This paper studies sovereign debt relief in a long-term perspective. We quantify the relief achieved through default and restructuring in…