FEDS Notes
FEDS Notes are articles in which Board economists offer their own views and present analysis on a range of topics in economics and finance. These articles are shorter and less technically oriented than FEDS Working Papers
How Global Value Chains Change the Trade-Currency Relationship
This note summarizes the main results of the de Soyres et al. (2018) paper, drawing out the most policy-relevant implications.
DOI: https://doi.org/10.17016/2380-7172.2504
How Do U.S. Global Systemically Important Banks Lower Their Capital Surcharges?
In this note, we examine whether and how U.S. G-SIBs adjust their systemic importance indicators to lower their surcharges.
DOI: https://doi.org/10.17016/2380-7172.2480
Goods-Market Frictions and International Trade
The difficulty of locating and building connections with overseas buyers is a prevalent firm-level barrier to exporting. Producers and retailers must spend time and resources to find one another before they can transact.
DOI: https://doi.org/10.17016/2380-7172.2501
Why Has Wage Growth Been Subdued in the Advanced Foreign Economies?
This note argues that certain factors, especially slower productivity growth and lower natural rates of unemployment, can explain much of the weakness of wage growth and the apparent breakdown of the simple wage Phillips curve.
DOI: https://doi.org/10.17016/2380-7172.2410
Monetary Policy Space in a Recession: Some Simple Interest Rate Arithmetic
As an alternative, two recession scenarios are presented in which interest rates change from October 2019 levels by the same amount as seen, on average, around the 1990 and 2001 recessions.
DOI: https://doi.org/10.17016/2380-7172.2484
Raising the Inflation Target: Lessons from Japan
In January 2013, the Bank of Japan increased its inflation target from 1 percent to 2 percent in an effort to end chronic deflation that had lasted for more than a decade. In this note, the author reviews this Japanese experience and highlights possible lessons for other central banks that may be interested in examining the possibility of raising their inflation target at some point in the future.
DOI: https://doi.org/10.17016/2380-7172.2493
Disclaimer: FEDS Notes are articles in which Board economists offer their own views and present analysis on a range of topics in economics and finance. These articles are shorter and less technically oriented than FEDS Working Papers.
