Federal Reserve Bank of Philadelphia publications Economic research and commentary from Federal Reserve Bank of Philadelphia https://fedinprint.org/search?facets[]=provider_literal_array:Federal+Reserve+Bank+of+Philadelphia Mon, 11 May 2026 12:12:46 +0000 Flight to Safety: Evaluating Stablecoin’s Role as a Safe-Haven Asset in DeFi Markets https://fedinprint.org/item/fedpwp/103156/original https://fedinprint.org/item/fedpwp/103156/original Chernoff, Alan; Yoshida, Nathaniel; Jagtiani, Julapa 2026-05-07 37 Cryptocurrency; Stablecoins; Bitcoin; Ethereum; Tether; Flight to safety; BTC; ETH; USDT 26-24 10.21799/frbp.wp.2026.24 Working Papers Are Fiscal Transfers Inflationary? https://fedinprint.org/item/fedpwp/103152/original https://fedinprint.org/item/fedpwp/103152/original Shin, Minchul; Arias, Jonas E.; Rubio-Ramirez, Juan F. 2026-05-05 55 fiscal policy; structural vector autoregressions; identification 26-23 10.21799/frbp.wp.2026.23 Working Papers Do Recent Auto Loan Delinquency Rates Overstate Borrower Distress? https://fedinprint.org/item/p00001/103107 https://fedinprint.org/item/p00001/103107 Santucci, Larry; Zhou, Justin; Cheney, Julia S.; Hunt, Robert M.; Lambie-Hanson, Lauren 2026-05-01 5 Consumer Finance Institute Research Briefs and Special Reports Is Household Financial Health Improving? https://fedinprint.org/item/p00001/103106 https://fedinprint.org/item/p00001/103106 Bhutta, Neil; Doubinko, Valeria Zeballos 2026-05-01 7 Consumer Finance Institute Research Briefs and Special Reports It’s You, Not Me – Survey Data on AI’s Impact on Employees https://fedinprint.org/item/p00001/103105 https://fedinprint.org/item/p00001/103105 Akana, Tom 2026-05-01 4 Consumer Finance Institute Research Briefs and Special Reports How Quantum Computing Threatens Cryptography https://fedinprint.org/item/fedpei/103077 https://fedinprint.org/item/fedpei/103077 Sanches, Fabio 2026-04-21 10 Quantum computing Economic Insights International Currency Dominance https://fedinprint.org/item/fedpwp/103040/original https://fedinprint.org/item/fedpwp/103040/original Sanches, Daniel R.; Abadi, Joseph; Fernández-Villaverde, Jesús 2026-04-15 52 dominant currency; international monetary system; strategic complementarities; history dependence 26-21 10.21799/frbp.wp.2026.21 Working Papers Time-Consistent Individuals, Time-Inconsistent Households https://fedinprint.org/item/fedpwp/103023/original https://fedinprint.org/item/fedpwp/103023/original Hertzberg, Andrew 2026-04-13 63 Time-Inconsistency; Savings; Families; Intra-Household Decision Making 26-20 10.21799/frbp.wp.2026.20 Working Papers Why Is Manufacturing Productivity Growth So Low? https://fedinprint.org/item/fedpwp/103003/original https://fedinprint.org/item/fedpwp/103003/original Atalay, Enghin; Kimmel, Nicole; Syverson, Chad; Hortacsu, Ali 2026-04-07 78 manufacturing; productivity measurement; ICT 26-19 10.21799/frbp.wp.2026.19 Working Papers Temporal Focal Points and Economic Outcomes Evidence from U.S. Mortgage Lending https://fedinprint.org/item/fedpwp/102981/original https://fedinprint.org/item/fedpwp/102981/original Yu, Edison; Heimer, Rawley; Giacoletti, Marco 2026-04-01 71 26-18 10.21799/frbp.wp.2026.18 Working Papers Monetary Policy and Productivity https://fedinprint.org/item/fedpsp/102949 https://fedinprint.org/item/fedpsp/102949 Paulson, Anna L. 2026-03-27 8 Speech Bank Loans to NBFIs: Evidence of Specialization, Part II https://fedinprint.org/item/fedpei/102943 https://fedinprint.org/item/fedpei/102943 Conroy, Andrew; D'Erasmo, Pablo 2026-03-26 7 Economic Insights Bank Loans to NBFIs: Evidence of Specialization, Part I https://fedinprint.org/item/fedpei/102942 https://fedinprint.org/item/fedpei/102942 D'Erasmo, Pablo; Conroy, Andrew 2026-03-26 10 Economic Insights Building Credit Histories https://fedinprint.org/item/fedpwp/102941/original https://fedinprint.org/item/fedpwp/102941/original Livshits, Igor; Zetlin-Jones, Ariel; Kovrijnykh, Natalia 2026-03-26 108 Emerging Borrowers; Credit History; Information Aggregation; Debt Dilution 26-17 10.21799/frbp.wp.2026.17 Working Papers Off the Beaten Tract: Constructing a New Neighborhood Geography Using Revealed Preference https://fedinprint.org/item/fedpwp/102934/original https://fedinprint.org/item/fedpwp/102934/original Mast, Evan; Barca, Alaina 2026-03-24 67 Neighborhood definition; residential mobility; residential sorting 26-16 10.21799/frbp.wp.2026.16 Working Papers Evaluating Transportation Improvements Within Cities Using Quantitative Spatial Models https://fedinprint.org/item/fedpwp/102896/original https://fedinprint.org/item/fedpwp/102896/original Severen, Christopher 2026-03-05 31 quantitative spatial models; transportation infrastructure; transit; urban economics 26-13 10.21799/frbp.wp.2026.13 Working Papers The Impact of Early Investments in Urban School Systems in the United States https://fedinprint.org/item/fedpwp/102897/original https://fedinprint.org/item/fedpwp/102897/original Schmick, Ethan; Shertzer, Allison 2026-03-16 66 school spending; returns to educational resources 26-15 10.21799/frbp.wp.2026.15 Working Papers On the Wisdom of Crowds (of Economists) https://fedinprint.org/item/fedpwp/102886/original https://fedinprint.org/item/fedpwp/102886/original Mora, Aaron; Diebold, Francis X.; Shin, Minchul 2026-03-09 36 Survey of professional forecasters; forecast combination; model averaging; equicorrelation 26-14 10.21799/frbp.wp.2026.14 Working Papers Discussion Private Canaries: The Value of Private-Sector Data for U.S. Monetary Policy Making (Presentation Slides) https://fedinprint.org/item/fedpsp/102884 https://fedinprint.org/item/fedpsp/102884 Paulson, Anna L. 2026-03-06 10 Speech Discussion Points on “Private Canaries: The Value of Private Sector Data for U.S. Monetary Policy Making” https://fedinprint.org/item/fedpsp/102883 https://fedinprint.org/item/fedpsp/102883 Paulson, Anna L. 2026-03-06 3 Speech Polarized Contributions but Convergent Agendas https://fedinprint.org/item/fedpwp/102846/original https://fedinprint.org/item/fedpwp/102846/original Livshits, Igor; Drautzburg, Thorsten; Wright, Mark L. J. 2026-03-03 50 Polarization; Campaign Contributions; Agendas 26-05 10.21799/frbp.wp.2026.05 Working Papers Demand-Based Asset Pricing in General Equilibrium https://fedinprint.org/item/fedpwp/102820/original https://fedinprint.org/item/fedpwp/102820/original Abadi, Joseph 2026-02-25 49 Asset Pricing; Macro-Finance; Financial Intermediation; Slow-Moving Capital 26-12 10.21799/frbp.wp.2026.12 Working Papers Strong Spatial Spillovers Determine Neighborhood Shape and Neighborhood Change https://fedinprint.org/item/fedpwp/102819/original https://fedinprint.org/item/fedpwp/102819/original Aliprantis, Dionissi; Lin, Jeffrey 2026-02-23 29 Neighborhood dynamics; neighborhood formation; spatial externalities; income sorting; residential segregation; neighborhood morphology 26-11 10.21799/frbp.wp.2026.11 Working Papers Does Experience Matter? Past Fraud Experiences, Data Compromises, and Credit Market Behavior https://fedinprint.org/item/fedpwp/102536/original https://fedinprint.org/item/fedpwp/102536/original Blascak, Nathan; Toh, Ying Lei 2026-02-19 54 Equifax data breach; consumer credit; credit freeze 26-10 10.21799/frbp.wp.2026.10 Working Papers Model Risk Under CECL: A Consumer Finance Perspective https://fedinprint.org/item/fedpwp/102431/original https://fedinprint.org/item/fedpwp/102431/original Canals-Cerda, Jose J. 2026-02-12 55 CECL; Allowance for Loan and Lease Losses; Accounting Regulations; Model Risk 26-09 10.21799/frbp.wp.2026.09 Working Papers