Economics

Reserve Management Purchases (RMP) is a form of open market operations under which the Federal Reserve injects reserves into the banking system through "permanent" asset purchases with an aim to ensure the level of reserves remain "ample".

Countries with swap line arrangement with Federal Reserve, be it the standing ones or temporary, saw smaller increases in spread during the initial pandemic stress period.

The Saturated Level of Reserves or efficient level of reserves, is the point which the opportunity cost for banks to hold reserves disappears, and became indifferent towards holding more reserves. The reserve demand curve beyond this point becomes close to horizontal.

In their recent working paper "Nonbank Lending", economists Sergey Chernenko, Isil Erel, and Robert Prilmeier provided an insightful overview of the sources and terms of private debt financing during the post-crisis period.

Olivier Blanchard a list of things that macroeconomists normally agreed on and need no further discussions.

John Cochrane talks about Fiscal Theory of Price Level and how can we apply this theory on the current macroeconomy.

According to the data shown in the Congressional Budget Office‘s latest The Budget and Economic Outlook: From 2019 to 2029, there are $15.8 trillion US federal debt held by the public at the end of 2018.

In a new working paper "The Non‐Bank Credit Cycle", researchers Esti Kemp, René van Stralen, Alexandros Vardoulakis, and Peter Wierts tried to look into the cyclical properties of non‐bank credit and its relevance for financial stability.

While GDP rebounded by 0.65% in Q3 (2.6% annualized), the expansion was driven almost entirely by a 2.2% drop in imports.

Larry Christiano, one of the most prominent researcher on DSGE model, explains what his research "Understanding the Great Recession" tell us about the Great Recession as well as labor participation rate's role in the developments of the Great Recession.