Search Results
Dallas Fed Mobility and Engagement Index Gives Insight into COVID-19’s Economic Impact
To gain insight into the economic impact of the pandemic, we developed an index of mobility and engagement, based on geolocation data collected from a large sample of mobile devices.
In Uncertain Times, Fed Sometimes Turns to ‘Insurance’
In June 2019, a concept appeared in the Federal Open Market Committee (FOMC) minutes that had not shown up in FOMC minutes for 11 years—the idea of monetary policy “insurance.”
Report
Regulatory Burden Rising
U.S. commercial banks face growing regulatory requirements and complexity, especially with the Dodd?Frank Wall Street Reform and Consumer Protection Act of 2010, which was intended to rein in excesses of the largest banks. The nation would be better served by a regulatory framework that more fully accounts for the operational differences between small and large banks.
Journal Article
Liquidity mismatch helps predict bank failure and distress
Liquidity mismatch?the risk of a bank being unable to fund increases in assets or meet its obligations as they come due?increased in the U.S. banking sector during the run-up to the financial crisis, especially at the largest institutions, contributing to bank failure and distress.
Journal Article
Bank Asset Concentration Not Necessarily Cause for Worry
U.S. banking assets have become substantially more concentrated within a few large institutions. However, decreasing relative rates of big-bank growth and of idiosyncratic volatility?an indicator of individual bank susceptibility to shocks and a resulting redistribution of assets?suggest a reduction in systemic financial system risk through contagion.
Journal Article
Impact of Macroeconomic Surprises Changed After Zero Lower Bound
Macroeconomic surprises involving employment and inflation?reflecting the Fed?s attempts to achieve its dual mandate to promote full employment and price stability?increased in importance during the zero-lower-bound period. Also, market participants were more attentive to housing market indicators and final GDP revisions.
Journal Article
Weakly capitalized banks slowed lending recovery after recession
The reluctance to lend played out particularly among a subset of banks?often larger institutions with very low ratios of capital to assets.
Journal Article
Blockchain Technology Disrupting Traditional Records Systems
Working Paper
Macroeconomic news and asset prices before and after the zero lower bound
With short-term policy interest rates constrained by their effective zero lower bound (ZLB), monetary policy relied on communicating the future path of policy conditional on incoming macroeconomic data. Motivated by this, we exploit intra-day prices to investigate how updates on the state of the U.S. economy affect interest rates and exchange rates before and after the ZLB. We find that releases reflecting the dual mandate of the Fed rose in importance and ? as an ex-post acknowledgement of the sources of the Great Recession ? additional housing market indicators and GDP revisions, that ...