The natural rate of interest, also known as r-star, is a key variable for analyzing fiscal and monetary policy. A novel ...

Qiana Charles, Vice President and Regional Executive of the SF Fed’s Los Angeles branch, learned more about the Inland Empire's key industries during a recent outreach visit.

Using a two-country monetary union framework with financial frictions, we quantify the efficacy of targeted asset purchases, ...

Internal migration has been cited as a key channel by which societies will adapt to climate change. We show in this paper that this process has already been happening in the United States. Over the ...

The fraction of men working in the United States has declined consistently since the 1950s. This has contributed to slower labor force growth and resulted in considerable gaps between labor force ...

Profiles: Google Scholar | RePEc Working Papers Explaining Stagnation in the College Wage Premium 2025-01 | with Bengali and Zhao | January 2025 abstract After growing substantially during the 1980s ...

We examine how the media’s systematic selection of reporting topics influences household responses to inflation news. In a model where households learn about inflation from news coverage, households ...

Temporary layoffs accounted for essentially the entire increase in unemployment to its historically high rate in April 2020. Although the rate has come down since its peak, unemployment remains well ...

We study how changes in the composition of Chinese local government debt influenced bank risk taking, credit allocation, and local productivity. Using confidential loan-level data and a ...

We document that the Fed’s perceived monetary policy response to inflation shifted materially over the post-pandemic period. In forward-looking policy rules estimated from surveys of macroeconomic ...

The prices of special securities known as TIPS can give some insight into how investors view the outlook for future inflation. New research uses a novel term structure model of nominal and real yields ...

We examine how the media’s systematic selection of reporting topics influences household responses to inflation news. In a model where households learn about inflation from news coverage, households ...