Author/Editor: Jorge A Chan-Lau, Ran Wang.

Release Date:November, 2020

We introduce unFEAR, Unsupervised Feature Extraction Clustering, to identify economic crisis regimes. Given labeled crisis and non-crisis episodes and the corresponding features values, unFEAR uses more...

Author/Editor: Rania A Al-Mashat, Ales Bulir, N Nergiz Dinçer, Tibor Hlédik, Tomás Holub, Asya Kostanyan, Douglas Laxton, Armen Nurbekyan, Rafael A Portillo, Hou Wang.

Release Date:September, 2018

This paper develops a new central bank transparency index for inflation-targeting central banks (CBT-IT index). It applies the CBT-IT index to the Czech National Bank (CNB), one of the most more...

Author/Editor: Ali Alichi, Rania A Al-Mashat, Hayk Avetisyan, Jaromir Benes, Olivier Bizimana, Aram Butavyan, Robert Ford, Narek Ghazaryan, Vahagn Grigoryan, Mane Harutyunyan, Anahit Hovhannisyan, Edgar Hovhannisyan, Hayk Karapetyan, Mariam Kharaishvili, Douglas Laxton, Akaki Liqokeli, Karolina Matikyan, Gevorg Minasyan, Shalva Mkhatrishvili, Armen Nurbekyan, Andrei Orlov, Babken Pashinyan, Garik Petrosyan, Yekaterina Rezepina, Aleksandr Shirkhanyan, Tamta Sopromadze, Lusine Torosyan, Erik Vardanyan, Hou Wang, Jiaxiong Yao.

Release Date:July, 2018

Estimates of potential output and the neutral short-term interest rate play important roles in policy making. However, such estimates are associated with significant uncertainty and subject to more...

Author/Editor: Liang Wang, Randall Wright, Lucy Qian Liu.

Release Date:January, 2017

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax more...