Research in Focus — Using Chicago’s housing stock as the basis for a quantitative model, the authors reveal the household-level economic consequences of demolishing public housing.

WP 24-06 – How does an economy behave in a historical environment where gold is the international monetary standard? We find that key features of this monetary system are long-run price stability and the nonneutrality of money in the short run.

WP 24-05 – We propose a new methodology for causal inference in time-varying structural vector autoregressions. We illustrate our approach for inference by analyzing the role played by monetary policy during the latest inflation surge.

WP 24-04 – History shows that when political parties become more polarized along one dimension of policy, they become less polarized along some other dimension. We explain how this can happen via changes in the ideological make up parties.

Economic Insights — Climate change poses risks to our economy, but how the government responds to climate change carries risks, too.