Recent Research

LMCI suggest the level of activity was little changed and momentum remained high in November

December 12, 2017
Labor Market Conditions Indicators Activity was little changed and momentum remained high.

Do Adverse Oil Price Shocks Change Loan Contract Terms for Energy Firms?

By Rajdeep Sengupta, W. Blake Marsh and David Rodziewicz
November 30, 2017
Economic Review Financing opportunities for energy firms tighten when oil prices fall, but some feel the crunch more than others.

The Persistence of Financial Distress

By José Mustre-del-Río, Kartik Athreya and Juan M. Sanchez
November 29, 2017
Research Working Paper While many US consumers experience financial distress at some point in the life cycle, most of the events of financial distress are primarily concentrated in a much smaller proportion of consumers in persistent trouble. These facts can be largely accounted for in a straightforward extension of a workhorse model of defaultable debt that accommodates a simple form of heterogeneity in time preference but not otherwise.

Faster Payments: Market Structure and Policy Considerations

By Fumiko Hayashi, Aaron Rosenbaum, Garth Baughman, Mark Manuszak, Kylie Stewart and Joanna Stavins
November 29, 2017
Research Working Paper Each of the three hypothetical market structures that may emerge for faster payments in the United States has advantages and disadvantages in meeting public policy objectives of efficiency, safety, and ubiquity. Tools are available to promote positive outcomes in each structure.

A New Estimate of the Natural Rate of Unemployment

By Didem Tuzemen
November 29, 2017
The Macro Bulletin A new estimate of the natural rate of unemployment suggests demographic and technical changes lowered the natural rate to 4.6 percent.

Economic Review

Do Adverse Oil Price Shocks Change Loan Contract Terms for Energy Firms?

By Rajdeep Sengupta, W. Blake Marsh and David Rodziewicz Economic Review

Financing opportunities for energy firms tighten when oil prices fall, but some feel the crunch more than others.

Labor Market Improvement and the Use of Subsidized Housing Programs

By Nicholas Sly and Elizabeth M. Johnson Economic Review

Local and demographic-specific labor market conditions are more useful than national aggregates in explaining subsidized housing use.

Fiscal Sustainability: A Cross-Country Analysis

By Huixin Bi Economic Review

A new country-specific framework quantifies the maximum level of debt a government can sustain given its economic and policy environment.

Banking on Distributed Ledger Technology: Can It Help Banks Address Financial Inclusion?

By W. Blake Marsh and Jesse Leigh Maniff Economic Review

Despite its promise, distributed ledger technology is unlikely to draw unbanked consumers into the financial mainstream.

Dissecting Wage Dispersion

By San Cannon and José Mustre-del-Río Economic Review

 “Where you work” contributes more to residual wage dispersion than “who you are.”

Read more Economic Review articles

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