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Author:Athreya, Kartik B. 

Journal Article
The Evolving Relationship between COVID-19 and Financial Distress.

During most of the COVID-19 pandemic, regions with high financial distress saw disproportionately more infections and deaths than regions with low financial distress. As of February 2021, cumulative infections appear more evenly distributed. However, total deaths remain higher in financially distressed regions.
Economic Bulletin , Issue February 24, 2021 , Pages 3

Journal Article
Loan Guarantees for Consumer Credit Markets

A significant share of U.S. households appears strongly affected by credit constraints. These households typically lack pledgable collateral, making unsecured credit markets essential for their consumption-smoothing efforts in the face of life-cycle income variation and uninsurable risk. Recent work suggests, however, that these markets are significantly affected by limited-commitment and private-information frictions. In this article, we study the potential for guarantees on consumer loans to improve allocations in unsecured credit markets. Loan guarantees are already among the most widely ...
Economic Quarterly , Issue 4Q , Pages 297-352

Journal Article
OPINION: Why Do College Graduates Earn More?

Econ Focus , Issue 2Q , Pages 44-44

Journal Article
Opinion: Why Is Returning to the Office Contentious?

A trusted colleague recently relayed an article about CEOs taking a harder line on bringing staff back to the office. I found the employers' views expressed in the article understandable. When it comes to bringing people together in the workplace, it's often the case in specialized teamwork settings that what I as a leader am looking for is simple availability. Stuff needing quick attention comes up in any organization, especially when others are waiting for one team member to dispose of an issue. It is bad for business, and personally frustrating, when such agility is compromised. A rigid ...
Econ Focus , Volume 23 , Issue 4Q , Pages 31-32

Speech
Career Conversations with the Junior Economic Club of New York City

Virtual presentation for the Junior Economic Club of New York City, delivered by Kartik Athreya, Director of Research and Head of the Research and Statistics Group, Federal Reserve Bank of New York.
Speech

Journal Article
Opinion: Why efficiency matters...even if you value equality

Econ Focus , Volume 13 , Issue Fall , Pages 44

Journal Article
Opinion: Why Do Bank Runs Happen?

The first half of 2023 has reminded us once again that banks are not immune from failure. In early March, Silicon Valley Bank (SVB) suffered a run on deposits and quickly collapsed. Its closure was followed by the failure of Signature Bank, a smaller bank, two days later. And even more recently, regulators exerted considerable effort to arrange the sale of First Republic Bank to a larger bank. The Fed was responsible for supervising and regulating SVB, and it recently issued its report examining what went wrong. I encourage you to take a look.
Econ Focus , Volume 23 , Issue 2Q , Pages 32

Working Paper
Risky higher education and subsidies

Tertiary education in the U.S. requires large investments that are risky, lumpy, and well-timed. Tertiary education is also heavily subsidized. By making the risk of human capital investment more acceptable, especially to low wealth households, subsidies may increase investment in human capital, lower long-run inequality, and reduce aggregate precautionary savings. However, subsidies also encourage more poorly prepared students to attend and are usually financed via distortionary taxes. In this paper, we find that observed collegiate subsidies improve welfare substantially relative to the ...
Working Paper , Paper 03-02

Briefing
The Pandemic, Child Care and Women’s Labor Force Participation

The pandemic has changed how households work, spend and care for children. In this Economic Brief, we highlight economic research that examines the patterns seen in women's work experiences in particular. We look at both the pandemic and, more generally, how shocks to the economy affect women's work decisions. Throughout, we will try to connect what we observe to households' broader economic environments and will emphasize — in the case of the pandemic — the role of away-from-home child care.
Richmond Fed Economic Brief , Volume 22 , Issue 16

Journal Article
Land of Opportunity: Economic Mobility in the United States

Authors Jessie Romero and Kartik Athreya interpret data that suggest economic mobility has decreased in recent years. Many factors contribute to mobility, but for most people advancement depends on opportunities to obtain human capital---opportunities that are not as good for children in poor families. Initiatives that focus on early childhood education seem to yield high returns on investment. Their feasibility on a large scale is unknown, but they may have the potential to help the United States achieve a more inclusive prosperity.
Economic Quarterly , Issue 2Q , Pages 169-191

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