Economic Research

New From Liberty Street Economics
Cross-Country Evidence on Transmission of Liquidity Risk through Global Banks
Little is known about how cross-border operations of global banks transmit liquidity shocks between countries. There is a lack of public data on the balance sheets of global banks, and it is difficult to compare the results of different research projects that use sensitive supervisory data collected by banking supervisors and central banks. Together with other scholars, the bloggers have established the International Banking Research Network (IBRN) to overcome these limitations.
By Claudia M. Buch, James Chapman, and Linda Goldberg
Direct Purchases of U.S. Treasury Securities by Federal Reserve Banks
Garbade reviews the history of the Federal Reserve’s direct purchase authority from its origination under the Federal Reserve Act of 1913 to the present. Since 1981, the U.S. Treasury has lacked a robust safety net that would allow it to meet its obligations in the event of an unforeseen depletion of its cash balances.
By Kenneth D. Garbade
An Assessment of the FRBNY DSGE Model's Real-Time Forecasts, 2010-13
The bloggers look at the role of the FRBNY DSGE model as a forecasting tool and evaluate its forecasting performance since 2010.
By Matthew Cocci, Marco Del Negro, Stefano Eusepi, Marc Giannoni, and Sara Shahanaghi
Developing a Narrative: The Great Recession and Its Aftermath
What precipitated the U.S. economy into the worst recession since the Great Depression? And what headwinds are holding back the recovery? Are these headwinds permanent, or transitory? In this post, the bloggers address these questions through the lens of the FRBNY DSGE model.
By Andrea Tambalotti and Argia Sbordone
A Bird’s Eye View of the FRBNY DSGE Model
The bloggers discuss which of the key interactions among critical economic actors are captured by the FRBNY DSGE model and describe how these interactions are quantified using macroeconomic data.
By Bianca De Paoli, Argia Sbordone, and Andrea Tambalotti
Forecasting with the FRBNY DSGE Model
The first post in this week’s five-part series. The bloggers discuss what DSGE models are, explain the usefulness of these models as a forecasting tool, and preview the forthcoming pieces in the series.
By Marco Del Negro, Bianca De Paoli, Stefano Eusepi, Marc Giannoni, Argia Sbordone, and Andrea Tambalotti
International Banking Research Network image
International Banking Research Network
This New York Fed-hosted microsite describes an initiative of central bank researchers who are engaged in a coordinated study of global banks and their activities internationally.
Center for MicroEconomic Data  image
The Center for Microeconomic Data
This new research hub centralizes the wide-ranging microeconomic data, research, and analysis produced by the New York Fed.
Higher Education Map
For-Profits in the Higher Education Landscape
Interactive maps and charts shed light on the unprecedented growth, market share, student loans, tuition pricing, federal grants, and more for for-profit higher education institutions.
Recent Articles
How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment
The authors describe using a randomized controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production decisions.
By Shawn Cole, Xavier Gine, and James Vickery, Staff Reports 692, September 2014
What Predicts U.S. Recessions?
The authors reassess the predictability of U.S. recessions at horizons from three months to two years ahead for a large number of previously proposed leading indicator variables.
By Emanuel Moench and Weiling Liu, Staff Reports 691, September 2014
Monetary Policy, Financial Conditions, and Financial Stability
The authors provide a review of the transmission channels of monetary policy, focusing not just on financial conditions, but also on financial stability consequences by way of financial vulnerabilities.
By Tobias Adrian and Nellie Liang, Staff Reports 690, September 2014
Job Search Behavior over the Business Cycle
The authors examine how nonemployed workers’ job search effort varies over the business cycle and consider its implications for individual and aggregate labor market outcomes. To this end, they construct a measure of search effort by combining information from the American Time Use Survey and the Current Population Survey.
By Toshihiko Mukoyama, Christina Patterson, and Ayşegül Şahin, Staff Reports 689, August 2014
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