The Economy

We produce and compile research and data on the overall economy, banking and financial markets. Our goal is to help financial institutions operate in a safe manner and support a robust U.S. financial system.

Abstract digital financial chart displaying multiple colored trend lines and numerical data points on a dark grid background. The image represents stock market or financial trading analytics.

Macroeconomics

Working Paper

A Gibbs Sampler for Efficient Bayesian Inference in Sign-Identified SVARs

WP 25-19 – We develop a new algorithm to analyze economic data using SVAR models identified with sign restrictions. We demonstrate its usefulness on a small SVAR of the world oil market and a large SVAR of the U.S. economy.

Aruoba-Diebold-Scotti Business Conditions Index

An index designed to track real business conditions at high observation frequency

Token-Based Platform Governance

WP 25-17 – We develop a model to compare the governance of a traditional platform to the governance of a platform that issues digital tokens to users.

Row of buildings gutted by fire.

Regional Economics

Working Paper

The Bronx Is Burning: Urban Disinvestment Effects of the Fair Access to Insurance Requirements

WP 25-16 – This study examines the consequences of FAIR plans in the 1960s and 1970s. Though meant to address insurance redlining, these plans unintentionally created moral hazard, leading to housing disinvestment and neighborhood change.

Event

Oct

3-4

2025

Frontiers in Machine Learning and Economics: Methods and Applications – 2025

The University of Chicago Booth School of Business | Chicago

Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability

Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability tracks the rate at which U.S. workers transition from one employer to another in a given month.

Piped Water and Sewer Access: Measuring Its Benefits for 19th Century Chicago and Its Relevance Today

Research in Focus — Using land values, Allison Shertzer of the Philadelphia Fed and her coauthors estimate the benefits of piped water and sewers in 19th century Chicago, with broader applicability.