The non-accelerating inflation rate of unemployment (NAIRU) is not directly observable and the presence of informal workers imposes an additional challenge in its estimation. Countries with large informal sectors, traditional measures might not depict labor slack properly, as it has the wage...

The Mexican economy experienced a shortage of natural gas from the second quarter of 2012 through the second half of 2013. In order to deal with this problem, the state-owned national supplier of natural gas (Pemex) implemented a system that restricts the amount of natural gas used by the...

We assess how a major, unconventional central bank intervention, Draghi's "whatever it takes" speech, affected lending conditions. Similar to other large interventions, it responded to adverse financial and macroeconomic developments that also influenced the supply and demand for credit. We...

The Mexican economy experienced a shortage of natural gas from the second quarter of 2012 through the second half of 2013. In order to deal with this problem, the state-owned national supplier of natural gas (Pemex) implemented a system that restricts the amount of natural gas used by the...

The non-accelerating inflation rate of unemployment (NAIRU) is not directly observable and the presence of informal workers imposes an additional challenge in its estimation. Countries with large informal sectors, traditional measures might not depict labor slack properly, as it has the wage...

We assess how a major, unconventional central bank intervention, Draghi's "whatever it takes" speech, affected lending conditions. Similar to other large interventions, it responded to adverse financial and macroeconomic developments that also influenced the supply and demand for credit. We...