Nvidia shares down as Huang affair scandal deepens
What happens when a tech giant becomes a security concern?
Data Show Households Still Managing to Meet Their Monthly Debts
The New York Fed detailed general steadiness in debt payments for autos, student loans and mortgages.
Elevated Inflation Keeps Pressure on Fed to Raise Rates
October’s Consumer Price Index report showed a broadening of price pressures that has stoked concerns about the Federal Reserve’s grip on inflation.
You’ve been told to prep three days of food, but moving past day four will need stronger supply chains
Danishch/ShutterstockThe UK government’s recent “Be Ready” campaign advises households to keep a three-day supply of food and drink in case of emergency. Sales of bottled water and tinned foods have soared, as households ready themselves for a powerful storm, a long power cut or a cyber-attack.
FEDS Paper: Costly Misdemeanours: Labour Market Effects of Low-Level Drink-Driving Violations
Kabir Dasgupta, Marco Francesconi, Jonathan James Linda Kirkpatrick, and Alexander PlumThis paper estimates the causal effect of a drink-driving conviction on labour market outcomes. Using linked administrative data and variation in the timing of first convictions in a staggered difference-in-differences design, we compare individuals before and after conviction to those convicted later. We find employment falls by 6–7 percentage points and monthly earnings decline by around 2 percent.
IFDP Paper: Trade Deflection: The Spillover Effects of U.S. Tariffs on Import Prices in Bystander Countries
Sofie Grouws, Giulia Lo Forte, Sharon Jeon, and Justin PierceEven as tariffs have reduced U.S. imports from China, Chinese exports have continued to expand globally. Yet despite the relevance of this redirected trade for firms and consumers, globally, there is little systematic evidence on how import prices have responded in "bystander" countries. We show that Chinese products targeted by U.S.
IFDP Paper: Who Built the Service Economy?
Immo Schott and Vladimir SmirnyaginWe show empirically that the reallocation of employment from manufacturing to services in the U.S. was driven by large incumbent service firms, which expanded by opening additional establishments. Guided by these facts, we develop a two-sector general equilibrium model of firm dynamics in which incumbent firms can scale by operating multiple establishments.
US national debt keeps rising after years of tax cuts – and this will make policymaking all the more difficult
A series of tax cuts since President George W. Bush's 2001 legislation have helped push the national debt to US$32 trillion. AP Photo/Ron EdmondsDemocrats, set to take over Congress with robust majorities, will face at least one expensive obstacle to their policy agenda: a national debt that now equals the size of the U.S. economy.
When a Walmart closes, what happens to nearby stores?
Nearby stores might not actually win out with extra shoppers if a Walmart shutters. Mark Ralston/AFP via Getty ImagesShoppers often greet the closure of a Walmart with dismay, while competitors find cause to celebrate.
Bank competitiveness and its role for monetary policy
Banks are at the heart of the EU economy, making them a key channel for monetary policy transmission. However, institutional factors continue to lead to fragmentation in the sector, constraining scale, efficiency and competitiveness. As shown by Altavilla et al. (2024), more competitive banks are more resilient to shocks and transmit monetary policy more effectively.
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