Research Working Papers
Working papers cover a wide range of economic topics, including monetary policy, payment methods, banking and more.
Recent Papers
Since the 1990s, banks’ fixed costs have increased substantially while marginal and average costs have declined.
Capital affects banks’ funding preferences, as banks with more capital monitor more intensely under uninsured financing.
A dual mandate that includes promoting maximum employment can enhance a central bank’s ability to achieve price stability.
Without unemployment insurance, workers frequently stay put in safe but lower-productivity jobs and reject risky high-wage jobs.
New “trimmed” import and export growth rates for the United States can cut forecast errors by up to 15 percent.
A new method for analyzing dynamic distributions predicts an investment boom and lull after AI accelerates growth.
The AI boom is concentrated in the most volatile sectors of the U.S. economy and could keep volatility elevated going forward.
We examine how federal debt management decisions transmit to financial markets and the broader economy.
A new method assesses how the costs firms incur to adjust their prices determine inflation and affect monetary policy.