Notes from the Vault
Fractional Reserve Cryptocurrency Banks
Larry D. Wall
Some observers argue that widespread acceptance of cryptocurrency would eliminate banks. This post discusses the potential for such banks and some issues raised by cryptocurrency banks.
Carry Factors: Characteristics and Informational Content
Nikolay Gospodinov and Ibrahim Jamali
This post discusses the informational content of carry factors for policy analysis. It highlights the predictive content of the bond and commodity carry, respectively, for recessions and inflation, and the commonality in the currency carry.
Tech-Driven Financial Innovation in Banking
W. Scott Frame, Larry D. Wall, and Lawrence J. White
This post draws on the authors' recent working paper to highlight why research on financial innovation is important. It also discusses some data limitations that inhibit such research.
Notes from the Vault was on hiatus after the March/April 2012 post; it restarted in March 2013.