Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Russell Wong
Artificial Intelligence and Technological Unemployment
Working Papers February 2026, No. 26-01 How large are the effects of artificial intelligence (AI) on labor productivity and unemployment? We develop a labor-search model of technological unemployment where AI learns from workers, raises productivity, and displaces them if renegotiation fails. The model admits three steady states: no AI; some AI with limited capability, more job creation but higher unemployment; unbounded AI with endogenous growth and employment gains.
The Value of Government Services: Evidence From Flight Delays During the 2025 Shutdown
Economic Brief December 2025, No. 25-45 Key Takeaways The value of government services is difficult to determine, but when they are disrupted, the value they provide can be inferred from the resulting losses. The flight delays occurring during the government shutdown provides an opportunity to place a value on government services in aviation. An analysis shows that an estimated 1 million extra work-hours of delay were incurred during the 43 days of shutdown beginning Oct. 1, costing $66 million.
Rounding Up: The Impact of Phasing Out the Penny
Economic Brief July 2025, No. 25-27 Additional Resources The U.S. government is expected to stop producing new pennies for circulation by early 2026. In 2024, the Treasury incurred a seigniorage loss of $85.3 million on penny production.
How Concentrated Is the Distribution of Banks' Reserve Balances?
Economic Brief May 2025, No. 25-18 Key Takeaways We introduce a new concentration measure of banks’ holding of reserve balances: the asset-weighted Gini coefficient, which controls for the differences among banks in size. In a departure from the traditional measure, the asset-weighted Gini coefficient finds that reserve balances have been more evenly distributed since the 2008 crisis.
Can China Avoid a Liquidity-Trap Recession? Some Unintended Consequences of Macroprudential Policies
Economic Brief April 2024, No. 24-12 Efforts to avoid a liquidity trap could ultimately cause one to happen. In this article, I examine how this occurs, what implications such actions have for other macroeconomic policies and what else can be done to avoid liquidity traps. In Shakespeare's famous tragedy, Macbeth acknowledged his biggest threats and was determined to do whatever it took to prevent them.
What Is a Crypto Conglomerate Like FTX? Economics and Regulations
Applying our characterization, FTX is the exchange arm, FTT is the cryptocurrency of the issuance arm, and Alameda is the trading arm. Some counterexamples could be useful to illustrate the concept of the crypto conglomerate. The New York Stock Exchange is an exchange arm but does not issue tokens or trade against clients. Indeed, traditional financial exchanges seldom issue anything like tokens. A closer example of an issuance arm in non-financial sectors could be found in casinos.
What Is SWIFT, and Could Sanctions Impact the U.S. Dollar's Dominance?
What Is and Isn't SWIFT? The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a Belgium-based cooperative overseen by G-10 central banks.2 SWIFT is incorporated under Belgian law and complies with regulatory obligation by disconnecting banks sanctioned by the European Union from the system. SWIFT is a message system for instructing the transfer of account-based money (usually banks' account balances).
Should the Fed Issue Digital Currency?
The United States might benefit from eventually replacing most physical cash with central bank digital currency (CBCD), but first the Federal Reserve must resolve several key policy and implementation issues, such as establishing comparative advantage over private issuers and ensuring safety and soundness.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Russell
Contact Russell, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack