Insight

Key Economic Facts About COVID-19

As people and economies around the world reel from the impact of the novel coronavirus (COVID-19), one thing is clear: facts are at a premium. The value of trusted data […]

Research Summary

Impacts of Industrial and Entrepreneurial Jobs on Youth · The Long-Term Impacts of Grants on Poverty

Except that it is not always that easy. You can teach a man to fish, but he might still need equipment, like a fishing rod, a boat, and a net. […]

Finding

Tracking the Treasury Yield Curve

When the market is calm, the term structure of the Treasury yield curve tends to be upward sloping, as investors expect to be paid more when lending in the longer-term. […]

News

The Radical Implications of Stable Quiet Inflation at the Zero Bound

by John H. Cochrane¹ For nearly a decade in the US, UK, and Europe, and three decades in Japan, short-term interest rates have been stuck at zero, known as the […]

Working Paper

Spending and Job Search Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data

How did the largest expansion of unemployment benefits in U.S. history affect household behavior? Using anonymized bank account data covering millions of households, we provide new empirical evidence on the […]

Working Paper

Liquidity vs. Wealth in Household Debt Obligations: Evidence from Housing Policy in the Great Recession

We use variation in mortgage modifications to disentangle the impact of reducing long-term obligations with no change in short-term payments (“wealth”), and reducing short-term payments with approximately no change in […]

Event

Modeling Financial Sector Linkages to the Macroeconomy

Presentations Thursday, September 13, 2012 What Do We Learn From Credit Market Evidence? Because financial markets are forward-looking, asset prices embed expectations about future macroeconomic outcomes. However, extracting these expectations […]

Research Summary

Encouraging Healthy Habits to Decrease the Burden of Diabetes

The most efficient method to address such non-communicable diseases (NCDs) is for patients to engage in lifestyle changes that can improve their health and prolong their lives. However, the challenge […]

Podcast

Episode 9: Could the Fed’s Rescue Go Awry?

Central banks are playing a critical, yet little discussed, role in limiting the economic damage of COVID-19. In this episode, Chicago Booth professor and former Governor of the Reserve Bank […]

Working Paper

Efficiency in Search and Matching Models: A Generalized Hosios Condition

When is the level of entry of buyers or sellers efficient in markets with search and matching frictions? This paper generalizes the well-known Hosios condition for constrained efficiency to a […]