Research in Focus — Two Philadelphia Fed economists and their coauthor have developed a model that helps them identify the factors that can make a currency dominate international trade and finance.

This special report highlights ongoing work to benchmark the stance of monetary policy using a range of policy rules that are widely employed in studies of monetary economics.

Research in Focus — Joseph Abadi of the Philadelphia Fed creates a model to analyze how central bank interest rate policy and balance sheet adjustments transmit through “inelastic” asset markets.