This report considers the New England states' past preparedness for revenue downturns caused by business cycle fluctuations and assesses policy actions that could promote greater fiscal stability in the future. During the recessions in 2001 and in 2007-2009, state governments experienced an...

This report considers the New England states' past preparedness for revenue downturns caused by business cycle fluctuations and assesses policy actions that could promote greater fiscal stability in the future

Over the past thirty years, the activities of the Federal Reserve System have undergone major change. Public interest and confidence in monetary policy have grown immensely. Low inflation has emerged, if not as the primary objective of monetary policy, at least as a more central focus than it...

In 1980's, a new convention emerged in the economics profession - that central banks' primary, even sole, responsibility should be controlling consumer price inflation. By the 1990's, this view was gaining credibility in policy circles, and various countries mandated that their central banks...

This paper distinguishes two types of cybersecurity risks—emerging risks from the private sector and systematic risks to the financial system—and examines their impacts on central banks’ sentiment on CBDC in a context of global cyberattacks. We find that central banks’ sentiment toward...