Die Weltwirtschaft expandiert weiterhin in moderatem Tempo. Die im Frühjahr etwas schnellere Gangart scheint sich im Sommer wieder verlangsamt zu haben. In den Vereinigten Staaten verliert die Konjunktur nach und nach an Schwung. Gleichzeitig bleibt die konjunkturelle Dynamik in Europa gering,...

This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the onset of and policy response to the novel coronavirus in the United States. The WEI is a weekly composite index of real economic activity, with eight of ten series available...

Foreign investors' changing appetite for risk-taking has been shown to be a key determinant of the global financial cycle. Such fluctuations in risk sentiment also correlate with the dynamics of uncovered interest parity (UIP) premia, capital flows, and exchange rates. To understand how these...

We have documented a regime change in the U.S. Treasury market post-Global Financial Crisis (GFC). We first derived bounds on Treasury yields that account for dealer balance sheet costs, which we call the net short and net long curves. We show that actual Treasury yields moved from the net short...

We use the 2020 Small Business Credit Survey to study the sources of racial disparities in use of the Paycheck Protection Program (PPP). Black-owned firms are 8.9 percentage points less likely than observably similar white-owned firms to receive PPP loans. About 55 percent of this take-up...

Despite changing attitudes around disability over time, people with disabilities still face large barriers to labour market participation. We apply a sociological framework that considers both supply- and demand-side explanations for labour market inequality to help understand the continuing...