We model how a cyber attack may be amplified through the U.S. financial system, focusing on the wholesale payments network. We estimate that the impairment of any of the five most active U.S. banks will result in significant spillovers to other banks, with 38 percent of the network affected on...

Dealers, who strategically supply liquidity to traders, are subject to both liquidity and adverse selection costs. While liquidity costs can be mitigated through inter-dealer trading, individual dealers' private motives to acquire information compromise inter-dealer market liquidity. Post-trade...

This paper analyzes, using a VAR model, the effects of US central bank monetary policy announcements, and information shocks from this authority regarding its economic outlook on Mexican financial and macroeconomic variables. Shocks are identified by combining a high-frequency strategy with sign...

Some believe in the "Thucydides Trap": the idea that, since a rising power will challenge the dominance of an established one, a China-U.S. trade war will be inevitable. Being the largest and the second largest trading nations globally, the U.S. and China are in fact each other's most important...

Introduction. The social significance of official statistics -- The BLS and the underestimation of unemployment -- The CDC and the overestimation of life expectancy -- The FBI and the miscalculation of crime -- The census bureau and the decennial undercount -- Why official statistics matter.

"The Quiet Violence of Empire traces USAID's long and bloody history of development work in Afghanistan to reveal the transnational entanglements of imperialism and racial capitalism, deftly underscoring the notion of development as a form of slow violence. Thinking relationally across human...

"Love and the Working Class is a unique look at the emotions of hard-living, racially diverse nineteenth-century Americans who were often on the cusp of literacy. Wrongly assumed to be inarticulate on paper, these laboring folk highly valued letters and, however difficult it was, wrote to stay...