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?…
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…