Our mission is to produce leading-edge research on how credit markets and payment systems affect the economy. The Institute sponsors opportunities for scholars, the financial industry, and the public sector to collaborate and share insights on fostering healthy household finances, a stable financial system, and a resilient economy.

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Our researchers span four Bank departments and collaborate with each other and visiting scholars to provide the next level of research.

Meet one of our researchers

Ronel Elul

Senior Economic Advisor and Economist, Research Department

Ronel Elul

Ronel Elul studies microeconomic theory and financial markets, with a recent focus on combining credit bureau data and information on mortgages.

Expertise
  • Consumer Credit
  • Housing and Mortgage Markets
  • Stress Testing and Regulation of Financial Institutions
  • Models of Consumer Behavior under Asymmetric Information
  • General Equilibrium Models with Incomplete Markets
Featured Publications
  • Owner Occupancy Fraud and Mortgage Performance
  • Securitization and Mortgage Default
  • Bankruptcy: Is It Enough to Forgive or Must We Also Forget?
  • Does Junior Inherit? Refinancing and the Blocking Power of Second Mortgages
  • What ‘Triggers’ Mortgage Default?

Publications and Resources

Literature Database

Our continually updated database provides bibliographic citations for journal articles, books, reports, and other publications on consumer credit and payments and links to full-text papers from across the Federal Reserve System.

Search Our Literature Database