Board of Governors of the Federal Reserve System Research Series

Federal Reserve economists produce original research on a broad range of topics relevant to the U.S. and foreign economies. These working papers are preliminary versions that are being shared in a timely manner to a broad research community, with the aim of contributing to scholarly debate and soliciting constructive feedback. This work is also often presented at research conferences and many of the papers are later published in peer-reviewed journals and other scholarly outlets.

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