The credit default swap (CDS) market has grown rapidly since the asset class was developed in the 1990s.
Job Polarization in the United States: A Widening Gap and Shrinking Middle
Over recent decades, the U.S. workforce has undergone a dramatic restructuring in response to changes in technology, trade, and consumption patterns.
Historical Echoes: What Makes a Bank Look Like a Bank?
We know what a bank looks like: It’s typically of solid construction with classical architectural features.
The Evolution of Federal Debt Ceilings
It’s hardly news that Congress sets a statutory limit on aggregate Treasury indebtedness.
The Debt Ceiling as a “Fiscal Rule”
A few months ago, the federal government was once again confronted with the need to raise the statutory limit on the amount of debt issued by the Treasury.
Just Released: Conference on Global Systemic Risk Explores Four Key Questions
The 2007-09 financial crisis spread to markets and institutions around the world, demonstrating why global systemic risk is a major concern in modern financial markets.
Remaining Risks in the Tri‑Party Repo Market
The tri-party repo market is one in which large U.S. securities firms and bank securities affiliates (dealers) finance much of their fixed-income securities inventories.
Using Crisis Losses to Calibrate a Regulatory Capital Buffer
In response to the enormous losses experienced during the recent financial crisis, the Basel Committee on Banking Supervision reached a new international agreement on the amount of capital banks will be required to hold.
Historical Echoes: Picturing a Century of Public Debt Burdens
Public debt has a long history, both here and abroad.
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