Webinar Series

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Pandemic

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Jul 2020

We use a novel panel with detailed transaction records of more than one million de-identified individuals to study the effect of a large-scale Chinese government-issued digital coupon program on consumer spending. At the core of this stimulus program are a set of salient features that drive the marg...
Keywords: COVID-19, fiscal stimulus program, MPC, policy experiment, Chinese digital coupon, behavioral economics
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AMPF Papers

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Policy Note

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May 2024

After a decade of reforms aimed at ensuring no bank is too-big-to-fail, the collapse of Credit Suisse served as the first real-life test of this framework. A resolution following the international and Swiss too-big-to-fail framework would have involved recapitalizing Credit Suisse by bailing in all ...
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

I review the functionality of the secondary market for U.S. Treasuries in March 2020, when the Covid-19 crisis triggered investor flows that overwhelmed intermediaries. Although the Fed was able to largely restore market liquidity through its unprecedented rate of Treasury purchases and other action...
Keywords: COVID-19, Pandemic, US Treasury Market
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

I review the functionality of the secondary market for U.S. Treasuries in March 2020, when the Covid-19 crisis triggered investor flows that overwhelmed intermediaries. Although the Fed was able to largely restore market liquidity through its unprecedented rate of Treasury purchases and other action...
Keywords: COVID-19, Pandemic, market liquidity, Treasury market
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Senior Fellows/Fellows

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Senior Fellows/Fellows

We design and field an innovative survey of unemployment insurance (UI) recipients that yields new insights about wage stickiness on the layoff margin. Most UI recipients express a willingness to accept wage cuts of 5-10 percent to save their jobs, and one third would accept a 25 percent cut. Yet wo...
Keywords: Wage rigidity, sticky wages, layoffs, unemployment insurance, survey of job losers, worker perceptions
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