Why countries struggle to quit fossil fuels, despite higher costs and 30 years of climate talks and treaties
Renewable energy is expanding, but a fossil fuel phaseout appears to still be far in the future.
FEMA buyouts vs. risky real estate: New maps reveal post-flood migration patterns across the US
FEMA's buyout program helped homeowners in Houston after Hurricane Harvey's widespread flooding in 2017. AP Photo/David J. PhillipDangerous flooding has damaged neighborhoods in almost every state in 2025, leaving homes a muddy mess.
IFDP Paper: The case for supporting liquidity supply in (some corners of) non-bank intermediation
Sirio AramonteAfter the Global Financial Crisis, the liquidity-supply ecosystem that underpins nonbank intermediation shifted away from traditional dealers. Instead, it started to rely more on intermediaries with fragile funding structures and opportunistic investment strategies. Over the years, stress episodes saw the sudden retrenchment of these intermediaries, which amplified liquidity imbalances and market malfunction.
IFDP Paper: Retail inventories and inflation dynamics: The price margin channel
Neil Mehrotra, Hyunseung Oh, and Julio L. OrtizUsing industry-level panel data and plausibly exogenous variation in supply conditions, we estimate the elasticity of retail price margins with respect to inventories along the retailer's optimal pricing curve. We find that this elasticity is negative and statistically significant, implying that lower finished-good inventories lead to higher price margins.
FEDS Paper: Decomposing Recent Employment Gains Among Disabled Workers
Hsinyu (Samuel) Tseng, Douglas A. WebberWe use the longitudinal component of the Current Population Survey to compare transition rates into and out of disability and employment prior to and after the onset of the pandemic. We find that one-third of the increased employment rate among disabled people is due to the excess incidence of disability seen following the pandemic, while the other two-thirds is attributable to higher participation among people whose disabilities were unrelated to the pandemic.
Why higher tariffs on Canadian lumber may not be enough to stimulate long-term investments in US forestry
Canadian lumber waits for shipment in a sawmill's yard. Andrej Ivanov/Getty ImagesLumber, especially softwood lumber like pine and spruce, is critical to U.S. home construction. Its availability and price directly affect housing costs and broader economic activity in the building sector. The U.S.
PRA and FCA announce changes to banker bonuses for 2025
The PRA and FCA have today confirmed plans to increase flexibility around senior banker pay, alongside changes to create better links between bonus awards and responsible risk-taking.
Drug Price Wars: What Can Really Tame Big Pharma?
Here’s the breakdown on what’s really driving America’s runaway drug prices -- and whether any of the current plans stand a chance to lower your pharmacy bill.
When it comes to the sickening cost of prescription drugs in America, this much is true: Big Pharma didn’t get rich by playing nice. It got rich playing Wall Street games.
For decades, economist William Lazonick has been exposing how Pharma’s Wall Street-driven business model doesn’t just lead to sky-high drug prices, but actually stifles innovation, too.
In defense of ‘surveillance pricing’: Why personalized prices could be an unexpected force for equity
Surveillance pricing has dominated headlines recently. Delta Air Lines’ announcement that it will use artificial intelligence to set individualized ticket prices has led to widespread concerns about companies using personal data to charge different prices for identical products.
Starbucks wants you to stay awhile – but shuttering its mobile-only pickup locations could be a risky move
When Starbucks announced that it would phase out its mobile-order pickup-only locations beginning in 2026, it raised a question: Why abandon a format seemingly built for speed and efficiency?
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