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We study the role of financial institutions in our economy, including the Federal Reserve's role in promoting financial stability.

Article
Second Quarter 2023

As the news is unsettling, it's worth taking some time to understand how bank runs happen. Nobel Prize winners Doug Diamond and Philip Dybvig developed a model that sheds light on this question.

Kartik B. Athreya
Executive Vice President and Director of Research

Article
Second Quarter 2023

In his July 1832 veto message of the bill rechartering the Second Bank of the United States, President Andrew Jackson triggered the demise of America's second central bank with a stroke of his veto pen.

Article
Second Quarter 2023

The persistence of hybrid work has left many wondering about the future of offices. With workers coming in less often, some companies have decided that they need less space. What does that mean for the banks that finance commercial real estate?