Historically, capital flow bonanzas have often fueled sharp credit expansions in advanced and emerging market economies alike. Focusing…
We examine the evolution of real per capita GDP around 100 systemic banking crises. Part of the costs of these crises owes to the…
Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy…
America’s dysfunctional budget process has been mired in federal shutdowns and debt ceiling brinksmanship for the past several years. No…
The audit policy of a tax authority can signal its audit effectiveness. We model this process and show that in limited circumstances an…
A new volume, Prospects for Asia and the Global Economy, summarizes the 2013 Asia Economic Policy Conference hosted by the Federal Reserve…
Financial crises cast a long shadow on investment. For nine major Asian economies, average investment as a share of GDP declined sharply…
The authors address the indisputable fact that high real interest rates place an added burden on debtors, whether they are households,…