Hutchins Center Working Papers

July 24, 2019; Los Angeles, CA, USA; General view of downtown Los Angeles skyline. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports - 13093367

Is municipal bond insurance still worth the money in an ‘over-insurance’ phenomenon?

Kimberly Cornaggia, John Hund, and Giang Nguyen

Thursday, August 1, 2019

Researchers of Hauri, an IT security software company investigating computer viruses, work at their lab in the company in Seoul March 22, 2013. This week's cyber-attack on South Korean broadcasters and banks may not have originated in China after all as the IP address has been traced to one of the victim banks, the communications regulator said on Friday. REUTERS/Lee Jae-Won (SOUTH KOREA - Tags: SCIENCE TECHNOLOGY CRIME LAW BUSINESS TELECOMS) - GM1E93M1BKH01

Cyber runs: How a cyber attack could affect U.S. financial institutions

Darrell Duffie and Joshua Younger

Tuesday, June 18, 2019

Arrangement of various world currencies including Chinese Yuan, US Dollar, Euro, British Pound, shot January 25, 2011. REUTERS/Kacper Pempel/Illustration/File Photo - S1AEUFNVHWAB

New financial stability governance structures and central banks

Rochelle M. Edge and Nellie Liang

Thursday, February 21, 2019

Visitors walk to the platform at the 96th Street Station during a preview event for the Second Avenue subway line in Manhattan, New York City, U.S., December 22, 2016. REUTERS/Andrew Kelly - RC14771C8740

Tax advantages and imperfect competition in auctions for municipal bonds

Daniel Garrett, Andrey Ordin, James W. Roberts, and Juan Carlos Suárez Serrato

Friday, November 30, 2018

Supporters of Positive Money hold up balloons in front of the Bank of England during a demonstration to demand quantitative easing which favours people instead of large financial institutions, in the City of London, in Britain November 3, 2016. REUTERS/Peter Nicholls - LR1ECB30V9J9T

Unconventional monetary policies in the euro area, Japan, and the United Kingdom

Giovanni Dell’Ariccia, Pau Rabanal, and Damiano Sandri

Wednesday, October 17, 2018

Federal Reserve Board Chairman Ben Bernanke (5th R) chairs a meeting of the Federal Open Market Committee, the Federal Reserve's interest rate-setting body, in Washington in this March 17, 2009 picture released on March 19, 2009. The Federal Reserve on Wednesday announced the purchase of longer-dated Treasury securities to help end a deepening U.S. recession. REUTERS/Joe Pavel/Federal Reserve Board/Handout (UNITED STATES POLITICS BUSINESS) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS - WASE53J19O901

Outside the box: Unconventional monetary policy in the Great Recession and beyond

Kenneth N. Kuttner

Wednesday, October 17, 2018

A man walks away from the U.S Treasury Department in Washington, U.S., August 6, 2018. REUTERS/Brian Snyder - RC1FD03EA500

Optimizing the maturity structure of U.S. Treasury debt: A model-based framework

Terry Belton, Kristopher Dawsey, David Greenlaw, Huachen Li, Srini Ramaswamy, and Brian Sack

Wednesday, October 10, 2018

The skyline of Detroit, Michigan is seen from Windsor, January 4, 2012. Saddled with crippling debt, mounting labor costs, and onerous union contracts, the city that paved the auto industry's success is in need of a bailout of its own. Picture taken January 4, 2012. To match Feature DETROIT/GLOOM REUTERS/Rebecca Cook (UNITED STATES - Tags: BUSINESS POLITICS SOCIETY CITYSPACE) - GM1E819058R01

The “privatization” of municipal debt

Ivan T. Ivanov and Tom Zimmermann

Wednesday, September 26, 2018

A local newspaper headline announces bankruptcy in Stockton, California June 27, 2012. Stockton will become the largest U.S. city to seek protection from its creditors after its leaders approved a budget based on the city filing for bankruptcy. A Chapter 9 bankruptcy by the city of nearly 300,000 in California's Central Valley, about 85 miles (137 km) east of San Francisco, could come as early as Wednesday. REUTERS/Kevin Bartram (UNITED STATES - Tags: BUSINESS MEDIA) - GM1E86S0GVW01

Financing dies in darkness? The impact of newspaper closures on public finance

Pengjie Gao, Chang Joo Lee, and Dermot Murphy

Monday, September 24, 2018

Michelle Arthur is seen working on the sealer line in the paint department during a tour of the Honda automobile plant in Marysville, Ohio October 11, 2012. REUTERS/Paul Vernon/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH BUSINESS WEEK AHEAD SEPTEMBER 26 FOR ALL IMAGES - S1BEUDKRMNAA

GDP as a measure of economic well-being

Karen Dynan and Louise Sheiner

Friday, August 24, 2018

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. REUTERS/Daniel Munoz

Twenty-five years of inflation targeting in Australia: Are there better alternatives for the next 25 years?

Warwick J. McKibbin and Augustus J. Panton

Thursday, July 5, 2018

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How will FinTech and digital currencies transform central banking

Tuesday, April 17, 2018

A couple leaves the Remote Area Medical (RAM) health clinic at the Wise County Fairgrounds in Wise, Virginia July 24, 2009. The free clinic, which lasts 2 1/2 days, is the largest of its kind in the nation providing medical, dental and vision services from more than 1,400 medical volunteers. For many residents of this Appalachian area, the RAM clinic serves as the only medical care they may receive each year. REUTERS/Shannon Stapleton

The long-term impact of aging on the federal budget

Thursday, January 11, 2018

A pharmacist counts pills in a pharmacy

High-priced drugs in Medicare Part D: Diagnosis and prescription

Richard Frank and Richard J. Zeckhauser

Thursday, January 4, 2018

The Federal Reserve building is seen in Washington June 19, 2012. The Federal Reserve's policy-making committee again finds itself at a difficult time as it gathered on Tuesday for a two-day meeting. As Europe's banking crisis intensifies and the U.S. labor market sputters, the Fed appears increasingly likely to offer more monetary stimulus - despite political opposition, internal reticence and concerns about whether it will be effective. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS BUSINESS) - GM1E86K093901

Credit, financial conditions, and monetary policy transmission

David Aikman, Andreas Lehnert, Nellie Liang, and Michele Modugno

Thursday, November 30, 2017