When households increase their deposits in formal bank savings accounts, what
is the source of the money? We combine high-frequency surveys…
America’s two political parties rarely agree, but one thing that unites them is their anger about ‘currency manipulation’, especially by…
Some questions can only be answered by examining the broad sweep of history. Over the past 150 years, "world" real interest rates have…
A Financial System Still Dangerously Vulnerable to a Panic, Hal Scott, March 1, 2015, Opinion. "Dodd-Frank restrictions on the Federal…
Debt-Saddled Municipal Budgets Get a Lifeline: A unanimous Supreme Court held that health benefits for retired workers can be…
Vulnerable banks. Robin Greenwood, March 2015, Paper. "We present a model in which fire sales propagate shocks across bank balance…
How Did Britain Democratize? Views from the Sovereign Bond Market, Daniel Ziblatt, March 2015, Paper, To assess competing theories of…
The use and misuse of patent data: Issues for corporate finance and beyond, By Josh Lerner, March 2015, Paper.
"In the past several…
Economic Valuation of the National Park Service – Phase Reports (1A and 1B). Linda Bilmes, March 2015, Paper. "By measuring the net…
The Political Economy of Government Debt. Alberto Alesina, March 2015, Paper. "This paper critically reviews the literature which…