Wenxin Du, Ritt Keerati, and Jesse SchregerWe document a strong decoupling between the convenience yield on the US Dollar and US Treasuries. We measure the convenience of the U.S. dollar using covered interest parity (CIP) deviations between risk-free bank rates, such as secured overnight rates since the benchmark reform. In parallel, we measure the convenience of U.S. Treasury bonds through CIP deviations between government bond yields.
Corporate tax revenue has quickly dipped since Republicans passed tax cuts this summer. But economists think these tax breaks might be worth it.
Fed officials explained their opposition to the central bank’s decision this week to cut interest rates by a quarter of a percentage point.
François de Soyres, Simon Fuchs, Illenin O. Kondo, and Helene MaghinWe develop a framework to assess how economic shocks affect local labor markets and worker welfare, with a focus on city-level economic diversity. Using detailed worker flow data across cities, sectors, and occupations, we construct theory-consistent welfare measures. Our approach combines a dynamic discrete choice model with a dual representation that captures both direct effects and the insurance value of local economic diversity.
Jean Xiao TimmermanThis paper examines the evolution of artificial intelligence (AI) patent rates (i.e., the number of AI patents/number of firms of the same type) and concentration metrics (i.e., the Herfindahl-Hirschman Index (HHI) and Gini coefficient) among financial market participants from 2000 to 2020.
Using investment accounts for charitable gifts could be influencing giving in unexpected ways. sesame/DigitalVision Vectors via Getty ImagesCharitable giving in the United States has changed significantly in recent years.
A video posted on Attorney General Pam Bondi's X account shows the moment an oil tanker was seized by U.S. forces off the coast of Venezuela. U.S. Attorney General's Office/X via APThe U.S. seizure of an oil tanker off the Venezuelan coast looks designed to further squeeze the economy of President Nicolás Maduro’s country.
The monthly trade deficit fell to its lowest level in five years after the president’s imposition of sweeping global tariffs. But it’s unclear whether the trend will persist.
The president continues to brush off an issue that he said he would solve in his first months in office. Some Democrats say he is making the same mistake as his predecessor.
Older people may need help getting the hang of using technology. Maskot/GettyImagesLong-term care for older people is challenging for everyone. The costs are high and the quality of care is unpredictable at best, often falling short.
