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IFDP Paper: Dollarization Waves: New Evidence from a Comprehensive International Bond Database

12/16/2025 Federal Reserve Central banks

Swapan-Kumar Pradhan, Eswar Prasad, Előd Takáts, and Judit TemesvaryWe investigate how the U.S. dollar’s prominence in the denomination of international debt securities has evolved in recent decades, using a comprehensive global dataset with far more extensive coverage than datasets used in prior literature. We find no monotonic dollarization or de-dollarization trend; instead, the dollar’s share exhibits a wavelike pattern. We document three dollarization waves since the 1960s.

White House Dismisses Rise in Unemployment

12/16/2025 New York Times USA

The Trump administration looked to recast elements of a dour jobs report Tuesday as a sign of strength.

Jobs Report Could Provide Overdue Clarity on Uncertain Economy

12/16/2025 New York Times USA

Employers added 64,000 jobs in November, according to data delayed by the government shutdown, but the unemployment rate rose to a four-year high of 4.6 percent.

FEDS Paper: Hysteresis and the Role of Downward Nominal Wage Rigidity: Evidence from U.S. States(Revised)

12/16/2025 Federal Reserve Central banks

Hie Joo Ahn and Yunjong EoThis paper empirically investigates the sources of hysteresis, emphasizing the role of downward nominal wage rigidity using U.S. state-level payroll employment growth. U.S. states exhibit heterogeneous recoveries, with L-shaped and U-shaped recessions corresponding to persistent hysteresis and full recovery. L-shaped recessions are importantly driven by demand shocks and reinforced by downward nominal wage rigidity, which prolongs employment losses by raising real wages and deepening downturns.

Europe May Roll Back Combustion Engine Ban

12/16/2025 New York Times USA

A proposal to revise an E.U. law requiring carmakers to stop producing combustion engines by 2035 would offer some relief to automakers, but it sets back the region’s climate goals.

Could your boss be lonely? Here’s why it matters more than you might think

12/16/2025 The Conversation UK

PeopleImages/ShutterstockLoneliness is the pain we feel when our social connections fall short of fulfilling our needs.

Jobs Report Could Provide Overdue Clarity on Uncertain Economy

12/16/2025 New York Times USA

Hiring and unemployment data for November will offer a snapshot of a cooling job market buffeted by President Trump’s policies.

How rogue nations are capitalizing on gaps in crypto regulation to finance weapons programs

12/16/2025 The Conversation USA

Two years after Hamas attacked Israel on Oct. 7, 2023, families of the victims filed suit against Binance, a major cryptocurrency platform that has been plagued by scandals.

With UK unemployment rising, will the government’s plan for young people pay off? An economist’s view

12/16/2025 The Conversation UK

Monkey Business Images/ShutterstockThere are nearly one million young people in the UK who are not in employment, education or traini

Teenagers are preparing for the jobs of 25 years ago – and schools are missing the AI revolution

12/16/2025 The Conversation UK

Matej Kastelic/ShutterstockThe government has recently released its national youth strategy, which promises better career advice for young people in England. It’s sorely needed: for teenagers today, the future of work probably feels more like a moving target than a destination. Barely three years after ChatGPT went mainstream, the labour market has already shifted under young people’s feet.

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