Structural models of default are widely used to analyze corporate bond spreads, but have generally been unable to explain why risk premiums are as high as they are. This credit spread puzzle can be ...

As AI's integration in the process of designing and improving industrial infrastructure progresses, governance needs to ...

The paper explores the nexus between the financial and business cycles in a semi-structural New Keynesian model with a financial accelerator, an active banking sector, and an endogenous ...

When something goes wrong – and at scale, it will – someone must be accountable. Project-level accountability is insufficient ...