Monetary Policy and Macroeconomic Research
Latest Research
Bank Profitability Rebounds despite Compressed Interest Margins
Pandemic monetary and fiscal policies helped bank profitability recover.
Does Access to Free Pre-Kindergarten Increase Maternal Labor Supply?
Access to free pre-kindergarten programs increases the labor force participation of prime-working-age mothers by 2.3...
How Did the 2018–19 U.S. Tariff Hikes Influence Household Spending?
Young, Black, and Hispanic households spent higher shares of their total spending on goods affected by increased tariffs in...
Federal Enhancements to Unemployment Insurance Supported Tenth District Incomes in 2020
Federal supplements to state unemployment insurance mitigated income losses from COVID-19-related disruptions across the...
What Happens When the Minimum Wage Rises? It Depends on Monetary Policy
The central bank’s policy stance may influence how an increase in the minimum wage affects the economy.
Financial Constraints, Sectoral Heterogeneity, and the Cyclicality of Investment
Following monetary policy contractions, firms with financial flexibility take advantage of declining prices for capital goods...
Women without a College Degree, Especially Minority Mothers, Face a Steeper Road to Recovery
The pandemic-induced recession weighed most on the labor force participation of prime-age women without a bachelor’s degree, ...
What Has Driven the Recent Increase in Retirements?
During the pandemic, the share of retirees in the U.S. population rose much faster than its normal pace. Typically, an...
Fiscal Relief during the COVID-19 Pandemic
The fiscal policy response to the pandemic aided sectors of the economy most in need of funds, but the long-term effects of...