Latest Research

The Optimal Monetary Instrument and the (Mis)Use of Causality Tests

By A. Lee Smith and John W. Keating
December 07, 2018 | Research Working Paper
Since the EMV liability shift in October 2015, both chargebacks and fraud loss rates have increased for merchants, particularly from signature-based, card-present transactions

Growth and Welfare Gains from Financial Integration Under Model Uncertainty

By Yulei Luo, Jun Nie and Eric R. Young
December 07, 2018 | Research Working Paper
Financial integration may lead to larger growth and welfare benefits for developed countries than developing countries.

Large-Scale Financing Drives Ag Lending Activity Higher

By Nathan Kauffman and Ty Kreitman
October 19, 2018 | Ag Finance Databook
Large operating loans made by large agricultural banks led to a significant increase in farm lending in the third quarter of 2018.

Small Business Loans Trend Upward as Interest Rates Continue to Rise

By Christi May-Oder, Assistant Vice President and Neil Carpenter, Senior Supervisory Analyst*
October 01, 2018 | Small Business Lending Survey
Small business lending conditions were stable in the second quarter of 2018. Respondents to the Federal Reserve’s Small Business Lending Survey (FR 2028D) indicated that outstanding small business loans and new originations in the second quarter increased slightly from the first quarter. While credit line usage remained relatively unchanged, interest rates on small business commercial and industrial (C&I) loans continued to rise amid reports of some tighter lending terms.

The Cyclical Behavior of Labor Force Participation

By Didem Tuzemen and Willem Van Zandweghe
September 07, 2018 | Research Working Paper
Understanding the cyclical behavior of labor force participation can provide insight into the nature of unemployment fluctuations.
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