Dario Caldara, Matteo Iacoviello, and David YuThis paper introduces a monthly shortage index spanning 1900 to the present, constructed from 25 million newspaper articles. The index captures shortages across industry, labor, food, and energy, and spikes during economic crises and wars. We validate the index and show that it provides information beyond traditional macroeconomic indicators.
Marco Migueis, Michael Suher, and Jessie XuWe test whether minimum account balances to avoid fees, maintenance fee amounts, and nonsufficient funds charges are systematically different in LMI and majority-minority communities relative to other communities and find that they are generally higher.
Elena Falcettoni and Vegard Mokleiv NygaardWe propose a new way to classify individuals without a bank account, accounting for their actual interest in being banked. Analogous to how unemployment statistics are defined and estimated, we differentiate the individuals that do not have a bank account and would like to have one (the “unbanked”) from individuals that do not have a bank account and are not interested in having one (the “out of banking population”).
Matteo Iacoviello, Ricardo Nunes, and Andrea PrestipinoWe study optimal credit market policy in a stochastic, quantitative, general equilibrium, infinite-horizon economy with collateral constraints tied to housing prices. Collateral constraints yield a competitive equilibrium that is Pareto inefficient. Taxing housing in good states and subsidizing it in recessions leads to a Pareto-improving allocation for borrowers and savers.
As the Class of 2025 graduates into an uncertain and fast-changing working world, they face a crucial question: What does it mean to be successful?
Is it better to take a job that pays more, or one that’s more prestigious? Should you prioritize advancement, relationship building, community impact or even the opportunity to live somewhere new? Sorting through these questions can feel overwhelming.
Getting into Harvard University is hard, and so is getting rid of its charitable status.
Konstantin Shishkin/ShutterstockWorkplace burnout – a state of emotional, physical, and mental exhaustion – and the COVID pandemic have sparked a rethink of the traditional 9-to-5 job.
It’s been estimated 30% of the Australian workforce is experiencing some degree of burnout, raising serious concerns about the possible impacts on mental health.
Faced with a shrinking list of options to trim the budget, Republicans are now eyeing Medicaid - but will that fly among Trump supporters?
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When the first cryptocurrency, Bitcoin, was proposed in 2008, the goal was simple: to create a digital currency free from banks and governments. Over time, that idea evolved into something much bigger: “decentralized finance,” or “DeFi.”
The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.
