By Alexander Monge-Naranjo, Research Officer and Economist Economists often distinguish between idiosyncratic shocks — those that affect a small number of individuals — and aggregate shocks — those that affect a large market or segment of the population. The former can be individually catastrophic, but do not impact the economy…

By Amalia Estenssoro KEY TAKEAWAYS Monetary authorities are researching central bank digital currencies (CBDCs), which could make payment and settlement systems more efficient. Once issued, CBDCs will be a third type of central bank liability, along with cash and reserves. China is an example of a country where the central bank has…

By Crystal Flynn At the onset of the COVID-19 crisis, the federal government moved quickly to enact four major pieces of legislation to help offset potential economic, health and societal impacts of the global pandemic. As of Oct. 1, 2020, roughly $2.59 …

By Alexander Monge-Naranjo, Qiuhan Sun KEY TAKEAWAYS Innovations have played significant roles in expanding global trade throughout history. A simple trade innovation — the shipping container — may have triggered an escalation in international trade over the past 50 years. Technological innovations may give the U.S. a significant advantage in global trade…

Part of our Timely Topics: Economic Equity miniseries. — “High-income people, they save more, and then the return of their wealth is also higher because of high correlation with the biggest stock market participation rate,” says YiLi Chien, economist and research officer at the Federal Reserve Bank of St. Louis. In this podcast, he talks about the that…

By Ryan Heinz, External Engagement Staff Events and protests this past summer turned up the volume on national conversations about fair treatment of Black Americans, including in the workplace and the economy. But Sydney Diavua and her colleagues already had been making sure those conversations were heard — in the…

Part of our Timely Topics: Economic Equity miniseries. — “The quiet conversations have gotten louder,” Douglas Scarboro, regional executive of the Federal Reserve Bank of St. Louis Memphis Branch, says of willingness to address the topic of race. Pradeep Rajendran, senior manager, hosts a casual discussion with four St. Louis Fed executives: Scarboro; Francois Henriquez, general counsel; Nikki…

In this Women in Economics interview, Marie Mora and Lea-Rachel Kosnik discuss why having diverse perspectives at the policymaking table is essential. Marie Mora, provost and executive vice chancellor for academic affairs at the University of Missouri-St. …

By Meredith Covington and Ana H. Kent During most of the coronavirus pandemic and COVID-19 recession, women have faced higher unemployment rates than men, as the pandemic affected sectors with high shares of female workers, particularly in service professions.* Moreover, the closures of schools and day care centers and the…