Board of Governors of the Federal Reserve System

for, and—as was envisaged—the FSB has played a central role. But our work...key lesson of the COVID event is that non-bank financial intermediation

key role of interest rates as a determinant of recent exchange-rate movements...and/or weaker than forecast, little support was expressed for any generalized

And, the structure of the Treasury market has evolved substantially in...compare with the COVID event.2 Treasury market conditions deteriorated

prices. Taking a somewhat longer perspective, the manager noted that financial...prices, which appeared to respond to the reductions in the perceived odds

the 2019 Use of Alternative Data statement) was issued to provide risk...Comparing traditional credit scoring components with comparable cash-flow

the percent difference between actual real GDP and its potential level...prices, asset prices, and other factors from 2013:Q2 through 2018:Q4,

compare students who attended those public schools (the treatment group...the control group, whose debt is not). We exploit the variation in student

for- bearance to mortgage borrowers during the COVID-19 pandemic. We find...compare borrower-level outcomes at high- and low-availability servicers

key instrument that MNCs use to shift profits is manipulating transfer...and hence corporate taxes), an MNC can charge a lower price when selling

compares the time series of U.S. inflation with that of the fraction of...price index and, for consistency, the average monthly fraction of price