Senior economist Gadi Barlevy examines the gap between policymakers and researchers when it comes to asset bubbles. He describes policymakers’ key questions about asset bubbles and asks how economic models might be used to shed light on them.

Economic Perspectives article documents several facts about the seasonality of U.S. employment, including its marked decline since the 1960s. In addition, it finds there is little evidence that states or industries that are more seasonal are also more sensitive to the business cycle, contrary to some previous studies.

The Chicago Public Schools (CPS) system offers many high school choices for students. ‘GoCPS’ is a new online platform aimed at making the high school application process simpler and more transparent. Research prepared in part by Federal Reserve Bank of Chicago economist Lisa Barrow presents.