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FEDS Paper: Bells and Whistles of Nowcasting Models: Which Matter and When?

Freddy García-Albán andManuel González-AstudilloThis paper investigates which features of a Bayesian dynamic factor model improve U.S. GDP nowcasts and whether their contribution varies across historical episodes. Using pseudo-real-time information sets for 25 series, we estimate 16 combinations of

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FEDS Paper: How Did CECL Affect Bank Lending?

Ben RanishandCindy M. VojtechAdoption of the current expected credit losses (CECL) methodology for loan loss provisioning significantly altered how banks recognize loan losses in their capital calculations. Because capital is a more costly funding source for banks, the accounting change affects bank

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