Has the AI Boom Impacted the U.S. Current Account?
Julian di Giovanni The AI boom is showing up in different corners of the U.S. economy, including international…
How Fast Do Tariffs Pass Through into Consumer Prices?
Mary Amiti, Sebastian Heise, and David E. Weinstein There has been a lot of interest in how tariffs…
AI Adoption and Employment Expectations: Evidence from a Survey of Small Business Owners
Will Aarons and Asani Sarkar There is little consensus on the effect of AI adoption on employment. Economy-wide…
Firm Heterogeneity and the Response of Investment to Monetary Policy
Thomas Drechsel, Daniel Lewis, Davide Melcangi, and Laura Pilossoph It is well known that monetary policy affects firms’…
The Role of Repos in Monetary Policy Implementation
Gara Afonso, Jun-Davinci Choi, Gonzalo Cisternas, and Will Riordan In the first two posts of this three-part series,…
Who’s Borrowing and Lending in Repo Markets?
Gara Afonso, Jun-Davinci Choi, Gonzalo Cisternas, and Will Riordan Repo markets play a vital role in the U.S.…
Businesses Are Using AI to Transform Work, Not Cut Jobs
Jaison R. Abel, Richard Deitz, Natalia Emanuel, and Nick Montalbano The ongoing advancement and adoption of artificial intelligence…
Has Broader Stock Market Participation Changed How Interest Rates Affect the Economy?
Juan M. Morelli Stock market participation in the U.S. has changed dramatically over the past four decades. In…
A Window into Bond Investors’ Uncertainty About R-Star
Guillaume Roussellet Monetary policymakers closely monitor the term structure of sovereign bond yields to uncover market participants’ beliefs…
Using AI to Let History Speak About Bank Runs
Sergio Correia, Stephan Luck, and Emil Verner Banking crises are commonly associated with bank runs and banking panics,…
Liquidity Fades as Treasuries Age
Alain Chaboud, Ellen Correia Golay, Michael J. Fleming, Yesol Huh, Frank M. Keane, and Or Shachar More than…
The Post-COVID Decline in the Labor Share
Richard Audoly, Miles Guerin, Srinidhi Narayanan, and Rachel Schuh The labor share of income in the U.S. is…