This #FEDSPaper analyzes the risks posed by future-state quantum computers and the “harvest now decrypt later” (HNDL) threat. (1/2) www.federalreserve.gov/econres/feds... #EconSky
“Harvest Now Decrypt Later”: Examining Post-Quantum Cryptography and the Data Privacy Risks for Distributed Ledger Networks
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 30, 2025 at 4:06 PM
This #FEDSPaper analyzes the risks posed by future-state quantum computers and the “harvest now decrypt later” (HNDL) threat. (1/2) www.federalreserve.gov/econres/feds... #EconSky
New #FEDSPaper: Automated Credit Limit Increases and Consumer Welfare: www.federalreserve.gov/econres/feds... #EconSky
Automated Credit Limit Increases and Consumer Welfare
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 24, 2025 at 3:06 PM
New #FEDSPaper: Automated Credit Limit Increases and Consumer Welfare: www.federalreserve.gov/econres/feds... #EconSky
Research shows how primary dealers utilized repo operations conducted by the Federal Reserve. Fed repo operations reduced dealer funding stress and enabled dealers to pass on liquidity, including in March 2020. Read more in this #FEDSPaper: www.federalreserve.gov/econres/feds... #EconSky
Fed Repo Operations and Dealer Intermediation
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
July 14, 2025 at 3:33 PM
Research shows how primary dealers utilized repo operations conducted by the Federal Reserve. Fed repo operations reduced dealer funding stress and enabled dealers to pass on liquidity, including in March 2020. Read more in this #FEDSPaper: www.federalreserve.gov/econres/feds... #EconSky
Variance Targeting a Student's-t Likelihood results in a robust estimator for GARCH models. The variance of VIX forecasts option-implied volatility-of-volatility. www.federalreserve.gov/econres/feds... #FEDSPaper #EconSky
When Tails Are Heavy: The Benefits of Variance-Targeted, Non-Gaussian, Quasi-Maximum Likelihood Estimation of GARCH Models
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 27, 2025 at 1:26 PM
Variance Targeting a Student's-t Likelihood results in a robust estimator for GARCH models. The variance of VIX forecasts option-implied volatility-of-volatility. www.federalreserve.gov/econres/feds... #FEDSPaper #EconSky
New #FEDSPaper: The Theory of Financial Stability Meets Reality: www.federalreserve.gov/econres/feds... #EconSky
The Theory of Financial Stability Meets Reality
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 4, 2025 at 5:52 PM
New #FEDSPaper: The Theory of Financial Stability Meets Reality: www.federalreserve.gov/econres/feds... #EconSky
ICYMI: New #FEDSPaper: Where's The Bank? Banking Access in the Era of Branch Consolidation: www.federalreserve.gov/econres/feds... #EconSky
Where's The Bank? Banking Access in the Era of Branch Consolidation
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 24, 2025 at 2:04 PM
ICYMI: New #FEDSPaper: Where's The Bank? Banking Access in the Era of Branch Consolidation: www.federalreserve.gov/econres/feds... #EconSky
We show how mergers can alter pricing incentives by allowing firms to spread debt repayment across a diversified product portfolio, providing insurance against adverse demand shocks. (1/2) www.federalreserve.gov/econres/feds... #FEDSPaper
Financial Structure and Mergers
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 19, 2025 at 3:12 PM
We show how mergers can alter pricing incentives by allowing firms to spread debt repayment across a diversified product portfolio, providing insurance against adverse demand shocks. (1/2) www.federalreserve.gov/econres/feds... #FEDSPaper
New #FEDSPaper: Financial Stability Implications of Generative AI: Taming the Animal Spirits: www.federalreserve.gov/econres/feds... #EconSky
Financial Stability Implications of Generative AI: Taming the Animal Spirits
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 29, 2025 at 2:20 PM
New #FEDSPaper: Financial Stability Implications of Generative AI: Taming the Animal Spirits: www.federalreserve.gov/econres/feds... #EconSky
ICYMI: New #FEDSPaper: The Theory of Financial Stability Meets Reality: www.federalreserve.gov/econres/feds... #EconSky
The Theory of Financial Stability Meets Reality
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 11, 2025 at 6:11 PM
ICYMI: New #FEDSPaper: The Theory of Financial Stability Meets Reality: www.federalreserve.gov/econres/feds... #EconSky
ICYMI: New #FEDSPaper: Does Financial Stress Affect Commodity Futures Traders’ Positions? www.federalreserve.gov/econres/feds... #EconSky
Does Financial Stress Affect Commodity Futures Traders' Positions?
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 22, 2025 at 7:15 PM
ICYMI: New #FEDSPaper: Does Financial Stress Affect Commodity Futures Traders’ Positions? www.federalreserve.gov/econres/feds... #EconSky
New #FEDSPaper: Evaluating Macroeconomic Outcomes Under Asymmetries: Expectations Matter: www.federalreserve.gov/econres/feds...
Evaluating Macroeconomic Outcomes Under Asymmetries: Expectations Matter
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 5, 2025 at 4:37 PM
New #FEDSPaper: Evaluating Macroeconomic Outcomes Under Asymmetries: Expectations Matter: www.federalreserve.gov/econres/feds...
New #FEDSPaper: Using U.S. state data and a Markov-switching model, the authors identify L-shaped (hysteresis) and U-shaped (quick recovery) recessions: www.federalreserve.gov/econres/feds... (1/2)
Recession Shapes of Regional Evolution: Factors of Hysteresis
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 13, 2025 at 8:58 PM
New #FEDSPaper: Using U.S. state data and a Markov-switching model, the authors identify L-shaped (hysteresis) and U-shaped (quick recovery) recessions: www.federalreserve.gov/econres/feds... (1/2)
New #FEDSPaper estimates harmonized population and labor force statistics from the CPS that smooth out the January jumps in the published BLS time series. www.federalreserve.gov/econres/feds... (1/2) #EconSky
August 5, 2025 at 3:18 PM
New #FEDSPaper estimates harmonized population and labor force statistics from the CPS that smooth out the January jumps in the published BLS time series. www.federalreserve.gov/econres/feds... (1/2) #EconSky
ICYMI: New #FEDSPaper: Stagflationary Stock Returns: www.federalreserve.gov/econres/feds... #EconSky
Stagflationary Stock Returns
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 12, 2025 at 2:37 PM
ICYMI: New #FEDSPaper: Stagflationary Stock Returns: www.federalreserve.gov/econres/feds... #EconSky
ICYMI: New #FEDSPaper: Of House and Home-Related Goods: The Home Purchase Channel of Expenditure: www.federalreserve.gov/econres/feds... #EconSky
Of House and Home-Related Goods: The Home Purchase Channel of Expenditure
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
July 7, 2025 at 3:18 PM
ICYMI: New #FEDSPaper: Of House and Home-Related Goods: The Home Purchase Channel of Expenditure: www.federalreserve.gov/econres/feds... #EconSky
Adverse shocks hit low-income households twice: once by the shock itself and again as the shock raises the inflation experienced by low-income households above that experienced by high-income households. www.federalreserve.gov/econres/feds... #FEDSPaper #EconSky
Non-homothetic Demand Shifts and Inflation Inequality
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 19, 2025 at 5:52 PM
Adverse shocks hit low-income households twice: once by the shock itself and again as the shock raises the inflation experienced by low-income households above that experienced by high-income households. www.federalreserve.gov/econres/feds... #FEDSPaper #EconSky
New #FEDSPaper: Central bank preparedness for market-functioning asset purchases as a consideration for long-run balance sheet composition: www.federalreserve.gov/econres/feds... #EconSky
Central bank preparedness for market-functioning asset purchases as a consideration for long-run balance sheet composition
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 5, 2025 at 3:48 PM
New #FEDSPaper: Central bank preparedness for market-functioning asset purchases as a consideration for long-run balance sheet composition: www.federalreserve.gov/econres/feds... #EconSky
Revised #FEDSPaper: Options on Interbank Rates and Implied Disaster Risk: www.federalreserve.gov/econres/feds... #EconSky
Options on Interbank Rates and Implied Disaster Risk
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 14, 2025 at 8:53 PM
Revised #FEDSPaper: Options on Interbank Rates and Implied Disaster Risk: www.federalreserve.gov/econres/feds... #EconSky
New #FEDSPaper: One Policy Rate, Many Stances: Evidence from the European Monetary Union: www.federalreserve.gov/econres/feds...
One Policy Rate, Many Stances: Evidence from the European Monetary Union
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 19, 2025 at 6:33 PM
New #FEDSPaper: One Policy Rate, Many Stances: Evidence from the European Monetary Union: www.federalreserve.gov/econres/feds...
ICYMI: New #FEDSPaper: Local Estimation for Option Pricing: Improving Forecasts with Market State Information: www.federalreserve.gov/econres/feds... #EconSky
Local Estimation for Option Pricing: Improving Forecasts with Market State Information
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 3, 2025 at 8:53 PM
ICYMI: New #FEDSPaper: Local Estimation for Option Pricing: Improving Forecasts with Market State Information: www.federalreserve.gov/econres/feds... #EconSky
New #FEDSPaper: Linear and nonlinear econometric models against machine learning models: realized volatility prediction: www.federalreserve.gov/econres/feds... #EconSky
Linear and nonlinear econometric models against machine learning models: realized volatility prediction
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
August 8, 2025 at 6:30 PM
New #FEDSPaper: Linear and nonlinear econometric models against machine learning models: realized volatility prediction: www.federalreserve.gov/econres/feds... #EconSky
ICYMI: Household attention acts as a crucial gatekeeper for monetary policy's effect on expectations. New #FEDSPaper shows this channel is most potent when people are already paying attention during recessions & among those with high financial stakes. www.federalreserve.gov/econres/feds... #EconSky
Attention-Dependent Monetary Transmission to Household Beliefs
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 23, 2025 at 4:15 PM
ICYMI: Household attention acts as a crucial gatekeeper for monetary policy's effect on expectations. New #FEDSPaper shows this channel is most potent when people are already paying attention during recessions & among those with high financial stakes. www.federalreserve.gov/econres/feds... #EconSky
New #FEDSPaper: The Federal Reserve's Response to the 2023 Banking Turmoil: The Bank Term Funding Program: www.federalreserve.gov/econres/feds... #EconSky
The Federal Reserve's Response to the 2023 Banking Turmoil: The Bank Term Funding Program
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
November 6, 2025 at 6:45 PM
New #FEDSPaper: The Federal Reserve's Response to the 2023 Banking Turmoil: The Bank Term Funding Program: www.federalreserve.gov/econres/feds... #EconSky
New #FEDSPaper: Where's The Bank? Banking Access in the Era of Branch Consolidation: www.federalreserve.gov/econres/feds... #EconSky
Where's The Bank? Banking Access in the Era of Branch Consolidation
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
September 19, 2025 at 6:20 PM
New #FEDSPaper: Where's The Bank? Banking Access in the Era of Branch Consolidation: www.federalreserve.gov/econres/feds... #EconSky
ICYMI: New #FEDSPaper: Declining Search Frictions, Unemployment, and Growth Revisited: www.federalreserve.gov/econres/feds... #EconSky
Declining Search Frictions, Unemployment, and Growth Revisited
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
November 3, 2025 at 5:41 PM
ICYMI: New #FEDSPaper: Declining Search Frictions, Unemployment, and Growth Revisited: www.federalreserve.gov/econres/feds... #EconSky