Monetary Policy and Macroeconomic Research

Participants at the 2026 Jackson Hole Economic Symposium discussed the promise and risks of innovation in payments technologies.

Private nonprofit colleges have turned to graduate programs to increase revenue in recent years, but this trend could soon change.

During the COVID-19 pandemic, use of mortgage forbearance was fleeting; this paper offers two reasons why.

Although income taxes have been the main source of U.S. government revenue for a century, tariffs once played a greater role.

Since the 1990s, banks’ fixed costs have increased substantially while marginal and average costs have declined.

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.

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.