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Consumer Bankruptcy, Mortgage Default and Labor Supply

WP 22-26 – We investigate the impact of bankruptcy legislation on different education groups and find that BAPCPA affected the low-education and low-income group much more negatively than the high-education and high-income group.

Featured Work

PEAD.txt: Post-Earnings-Announcement Drift Using Text

WP 21-07/R – We construct a new numerical measure of earnings announcement surprises, standardized unexpected earnings call text (SUE.txt), that does not explicitly incorporate the reported earnings value.

Self-Fulfilling Debt Crises, Revisited

WP 20-03/R - We revisit self-fulfilling rollover crises by exploring the potential uncertainty introduced by a gap (however small) between an auction of new debt and the payment of maturing liabilities.

Blockchain Economics

WP 22-15 – We develop an economic theory to study the design of blockchain record-keeping protocols. Our main result characterizes the fundamental tradeoffs that arise when record-keepers must be provided with incentives to behave honestly.

Featured Data

Map of the Third Federal Reserve District

Institutions in the Third District

The lists include a summary of market statistics and each institution’s location and asset size as of the most recent quarter.

Updated: 19 Sep ’22

Map of the Third Federal Reserve District

Third District Banking Conditions

Third District Banking Conditions is a semiannual report comparing the trends of Third District community banks with their national peers.

Updated: 25 Mar ’22