Research Working Papers

Working papers covering a wide range of economic topics, including monetary policy, payment methods, banking and more.

Recent Papers

Research Working Paper

National Interests, Spillovers and Macroprudential Coordination

International regulatory standards can improve financial stability for all countries, but some countries have fewer incentives...

Research Working Paper

Explaining Machine Learning by Bootstrapping Partial Dependence Functions and Shapley Values

We examine two techniques for interpreting machine learning models and explain how they fit within the framework of economic...

Research Working Paper

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...

Research Working Paper

Macroprudential Policy Interlinkages

Emerging markets can benefit from considering the interaction of macroprudential policies across both domestic and...

Research Working Paper

The Effect of Immigration on Local Labor Markets: Lessons from the 1920s Border Closure

The 1920s U.S. border closure substantially reduced immigration, with uneven effects on regional economies.

Research Working Paper

Capital Controls and the Global Financial Cycle

Emerging markets have an incentive to tighten capital inflow controls during periods of international financial distress.


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