AI has made borrowing more expensive – an expert explains how bond markets are changing
Sven Hansche/ShutterstockThe global bond markets are a sensitive lot. And they’ve been having a particularly tricky time lately.
Cities keep shelling out taxpayer money for sports stadiums, yet the economics almost never makes sense
Atlanta's Truist Park, like many sports venues, got public funding, but the new stadium has had no measurable effect on the local economy, research shows. Matthew Grimes Jr./Atlanta Braves/Getty ImagesAmericans are crazy about sports. But whether that passion requires taxpayers to subsidize new facilities every time leagues and franchises ask for them needs rigorous scrutiny.
Why fuel prices may go higher still
Oil-related prices are high, but poised to go even higher. Afry Harvy/iStock / Getty Images PlusIf you think your energy costs are high now, the situation may be about to get a whole lot worse.
Devolving real power could lead to regional growth – but Andy Burnham will need to be brave
Burnley in Lancashire. Go My Media/ShutterstockAndy Burnham says he wants to change how Britain works. Part of his plan involves shifting power out of London to the regions, in the belief that economic growth for the whole country will follow.
Trump has gotten rid of many of the checks and balances that could stop him from demolishing the Kennedy Center
Musicians perform during a rally against the closing of the John F. Kennedy Center for the Performing Arts on Sept. 18, 2026. AP Photo/Jose Luis MaganaWho gets to decide the future of the living memorial to former President John F. Kennedy, and who holds those decision-makers to account?
FEDS Paper: How Did CECL Affect Bank Lending?
Ben Ranish and Cindy M. VojtechAdoption of the current expected credit losses (CECL) methodology for loan loss provisioning significantly altered how banks recognize loan losses in their capital calculations. Because capital is a more costly funding source for banks, the accounting change affects banks' cost of funding loans.
AI is creating jobs as well as erasing them – but how rewarding are they?
rudall30/ShutterstockDon’t believe the hype about AI taking over all forms of work. Most of the evidence to date suggests large-scale job losses are limited. But what is changing is the way work is organised.
Gen Z communicates differently in the workplace, but older colleagues can still decode them
Young workers often share values with older colleagues, but the environment where they learned about workplace behavior is different.
Multivariate uncertainty and distributional transmission
Macroeconomic policy increasingly requires assessments of risk rather than point forecasts alone. This paper develops a framework to compute impulse responses for scenario probabilities and the full predictive distribution of macroeconomic outcomes. The approach combines a regime-dependent mixture VAR with endogenous state probabilities and heteroskedastic shock identification, complemented by sparse sign and narrative restrictions.
Multivariate uncertainty and distributional transmission
Macroeconomic policy increasingly requires assessments of risk rather than point forecasts alone. This paper develops a framework to compute impulse responses for scenario probabilities and the full predictive distribution of macroeconomic outcomes. The approach combines a regime-dependent mixture VAR with endogenous state probabilities and heteroskedastic shock identification, complemented by sparse sign and narrative restrictions.
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