Interview with Matthew Gentzkow

Douglas Clement May 23, 2016

Stanford economist on TV & children, TV & voting, politics & persuasion, and the vibrant future of media economics

Interview with Lars Peter Hansen

Douglas Clement December 17, 2015

Nobel laureate on the importance of uncertainty, “systemic risk” as a catch phrase, and links between asset prices and the macroeconomy

Featured Articles

Global Mad Men

Douglas Clement June 13, 2016

To understand why firms succeed in international trade, look not to prices, but to advertising and the creation of demand

Message from the President

Neel Kashkari April 18, 2016

Kashkari discusses his goals for the Minneapolis Fed, highlighting the important and critical challenges facing people throughout the Ninth District.

Research Digest

Volatility and foreign assets

Douglas Clement September 30, 2015

Increased saving due to economic uncertainty helps explain international debt patterns

Risky business

Phil Davies September 30, 2015

How the threat of government default makes banks leery of lending, now and in the future

Did the Great Recession "break" labor matching efficiency?

Douglas Clement June 15, 2015

A close analysis suggests that matching efficiency has trended slightly downward for over a decade, but not due to recessions

Economic Policy Papers

Insuring Against Adverse Outcomes at Birth

Christopher Phelan December 1, 2016

Policy should focus on the insurance motives of parents

Innovation and Growth with Frictions

Randall Wright November 1, 2016

Monetary policy that provides sound banking and sound money can spur growth through innovation

Real Interest Rates over the Long Run

Kei-Mu Yi and Jing Zhang September 19, 2016

Decline and convergence since the 1980s, due significantly to factors causing lower investment demand

China’s Foreign Investment

Ellen R. McGrattan July 26, 2016

Foreign investment in China and by China has been growing rapidly, but little comes from or goes to nations with prized high technology

Self-fulfilling Prophecies in Sovereign Debt Markets

Juan Pablo Nicolini June 28, 2016

In a vicious circle, belief that default is probable can trigger default (and a credible promise to lend can eliminate it)

Foreclosure Delay and the U.S. Labor Market

Kyle Herkenhoff and Lee E. Ohanian May 3, 2016

Mortgage foreclosure delays during the Great Recession improved job match quality, homeownership retention and national income

The Stages of Economic Growth Revisited, Part 2

Daniela Costa, Timothy J. Kehoe, and Gajen Raveendranathan April 12, 2016

Part 2: Catching Up to and Joining the Economic Leader

The Stages of Economic Growth Revisited, Part 1

Daniela Costa, Timothy J. Kehoe, and Gajen Raveendranathan March 22, 2016

Part 1: A General Framework and Taking Off into Growth

Financial Repression: Evidence and Theory

V. V. Chari, Alessandro Dovis, and Patrick J. Kehoe March 1, 2016

Banks should be required to hold government debt at low interest rates only under limited conditions

The Great Recession and Financial Shocks

Zhen Huo and José-Víctor Ríos-Rull February 9, 2016

Current economic models need several additional ingredients before they can successfully explain the Great Recession

Are Prices Sticky and Does It Matter?

Liang Wang and Randall Wright January 26, 2016

Even if prices are slow to adjust, this doesn’t necessarily mean that monetary policy can be used to stimulate or slow economic activity