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Did Quantitative Easing Increase Income Inequality?
The impact of the post-meltdown Federal Reserve policy of ultra-low interest rates and Quantitative Easing (QE) on income and wealth inequality has become an important policy and political issue.
Have Large Scale Asset Purchases Increased Bank Profits?
This paper empirically examines the effects of the Federal Reserve’s Large Scale Asset Purchases (LSAP) on bank profits.
Intra-Financial Lending, Credit, and Capital Formation
This paper examines the effects of intra-financial lending – claims between financial institutions – on aggregate investment and credit to the non-financial sector in the United States.
Long-term trends in intra-financial sector lending in the U.S. 1950 - 2012
This paper examines the evolution of intra-financial sector lending in the United States, 1950- 2012, presenting estimates constructed from the Federal Reserve’s Flow of Funds Accounts.