The volatile value of digital assets, especially crypto-assets, makes them risky options for investors. This inherent risk limits both their market size and the purposes for which they are used, thus reducing the possibility of systemic risk arising. But digital assets and the mainstream...

The US dollar's dominance in international trade and finance is facing threats from increasingly fractured global economic and financial systems. The foundation of the US dollar, built on the American economy's strength in world trade, the liquidity of its financial markets and accessibility of...

The Social Security "full retirement age" (FRA) is the age at which retirement income benefits are available without reduction for early commencement. Presently, that age is 67 for those born in 1960 or later. This paper is about the unfair and unnecessary threat to reduce Social Security...

We use a panel of 16 OECD countries over several decades to investigate the effects of government debts and deficits on long-term interest rates. In simple static specifications, a one-percentage-point increase in the primary deficit relative to GDP increases contemporaneous long-term interest...