I study the pricing of American Depositary Receipts around FOMC meetings to identify the impact of US monetary policy on managed exchange rates. ADR investors assess the domestic central bank’s reluctance to maintain a currency peg regime if the costs of mimicking policy rate increases in the...

This chapter looks at US household sector micro data since 1989, to explore the relation between income inequality and financial fragility from a macro perspective. In contrast with a portfolio (and wealth inequality) approach to household financial instability, which focuses on the investments...