Working Papers

Swift reorganization or liquidation of insolvent businesses is the single best policy to deal with corporate debt booms.

Between a rock and a hard place

Open-ended polling responses reveal considerably more complexity – and more ambivalence and negativity – in Americans’ views of international trade than has been inferred from widely cited closed questions

In the 19th Century, “hypothecations” provided investors with valuable information on sovereign fiscal resources

Stock-Price Volatility During the Pandemic

To strengthen the American semiconductor industry, Congress should condition additional funds on suspending stock buybacks

Evidence from Survey Data of Inflation Forecasts

“School choice” aimed to block the choice of equal, integrated education for Black families

In Europe, imbalances in the structure of the automotive and a lack of industrial policies risk creating a deadly cocktail for millions of European workers just as the auto sector is undergoing decisive changes.

Is Victorian writer Walter Bagehot, whose adage “lending freely against good collateral at a penalty rate” has been gospel for central bankers, still relevant in a post-Great Financial Crisis world?

How once-promising Black upward mobility reversed course, and what can be done about it

Despite fear-mongering about the latest Consumer Price Index, unemployment remains elevated and stimulus is needed to prevent a collapse in demand

Analyzing corporate conference calls reveals the way that countries perceive and spread risk through the global financial system

Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation

Unlike the Great Recession, the pandemic has hit women workers harder than men, and disproportionately hurt the job prospects of lower education workers