Is Victorian writer Walter Bagehot, whose adage “lending freely against good collateral at a penalty rate” has been gospel for central bankers, still relevant in a post-Great Financial Crisis world?

By Laurent Le Maux

How once-promising Black upward mobility reversed course, and what can be done about it

By William Lazonick, Philip Moss, and Joshua Weitz

Despite fear-mongering about the latest Consumer Price Index, unemployment remains elevated and stimulus is needed to prevent a collapse in demand

By Claudia Fontanari, Antonella Palumbo, and Chiara Salvatori

Analyzing corporate conference calls reveals the way that countries perceive and spread risk through the global financial system

By Tarek Alexander Hassan, Jesse Schreger, Markus Schwedeler, and Ahmed Tahoun

Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation

By Walter Paternesi Meloni, Davide Romaniello, and Antonella Stirati

Unlike the Great Recession, the pandemic has hit women workers harder than men, and disproportionately hurt the job prospects of lower education workers

By Steven Fazzari and Ella Needler