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“If we think about the global pandemic as a common factor, shutdowns, contractions, and rapid rebounds were the shared impacts across countries around the world. But so were supply-chain bottlenecks, shortages in semiconductors, and backlogs at ports—issues we grapple with today.” – John C. Williams, President and Chief Executive Officer.1
The integration of markets, and the movement of goods and services across borders, has impacted the economy in numerous ways. Globalization has connected economies across the world, and through this interconnectedness, events that happen globally impact local economies. Arguments have been made regarding both the advantages and disadvantages of globalization.
The New York Fed conducts research to better understand globalization and its impact on economies. We have provided an online collection of different resources available from the Federal Reserve System and other sources. We invite High School Fed Challenge teams to submit academically researched podcast scripts on any topic that relates explicitly to this theme.
The New York Fed’s Global Supply Chain Pressure Index (GSCPI) draws on key information from over two dozen commonly used metrics to calculate one headline number. Published on a monthly basis, this view compiles data from global transportation costs and regional manufacturing surveys across seven economies to show supply chain pressures both historically and in the current moment. In addition to the global headline number, the GSCPI also produces regional indicators useful for analyzing trade, inflation, and trends in globalization. The Federal Reserve Bank of Dallas established the Globalization Institute in 2007 for the purpose of better understanding how the process of deepening economic integration between the countries of the world, or globalization, alters the environment in which U.S. monetary policy decisions are made. The Institute’s mission is to produce research that sheds light on important policy questions and meets the highest standards of the peer-reviewed literature. The Federal Reserve Bank of Minneapolis offers research and analysis on trade agreements, monetary unions, and employment impact of imports and exports. The Brookings Institution is a nonprofit public policy organization based in Washington, DC. The mission of the Brookings Institution is to conduct in-depth research that leads to new ideas for solving problems facing society at the local, national and global level. The Cato Institute is a think-tank that promotes solutions to economic problems using the principles of individual liberty, limited government, free markets, and peace. The Cato Institute provides various findings and research, including journals and studies, on globalization. The Organization for Economic Co-operation and Development (OECD) is an international organization that works to build better policies for better lives. The OECD online library features books, papers, podcasts and statistics and is the knowledge base of OECD's analysis and data.Working hand in hand with policy makers, governments and citizens, the OECD informs public decision-making, bringing together 38 member countries on key global issues. The World Bank provides research and resources examining globalization. Their Open Knowledge Repository includes publications on the Global Findex Database as well as reports on various globalization topics.
“There is no doubt that climate change poses profound challenges for the global economy and increased uncertainty for the financial system.” —Jerome Powell, Chair, Federal Reserve Board of Governors
Climate change and its effects, such as higher temperatures and extreme weather, will impact the economic and financial health of businesses, governments, and households. The uncertainty of the threat and the global nature of the problem makes climate change both a micro and macroeconomic risk factor for financial institutions and overall financial stability.
The New York Fed conducts research to better understand climate change and its links to broader economic health and we have provided an online collection of different resources available from the Bank and other sources.
Through this initiative, the New York Fed conducts research to better understand how building resilient communities and infrastructure to mitigate climate change is an increasingly important facet of maintaining a healthy economy. In this New York Fed Staff Report, economists study the climate-related risk exposure of large global banks in the collapse of fossil-fuel prices in 2020. In this FEDS Note, the Federal Reserve Board offers a way to assess the financial stability impact of risks resulting from climate change. The Board discusses the effect of climate change on financial stability and the way in which climate risk fits into existing financial stability monitoring frameworks. The Brookings Institution is a nonprofit public policy organization based in Washington, DC. Their mission is to conduct in-depth research that leads to new ideas for solving problems facing society at the local, national and global level. The World Bank provides research and resources examining climate change with a particular focus on vulnerable nations. The Cato Institute is a think-tank that promotes solutions to economic problems using the principles of individual liberty, limited government, free markets, and peace. Their research on global warming focuses on market based solutions to solve the problem of carbon emissions. The Environmental Protection Agency conducts research on mitigating the effects of climate change with a focus on lessening the contribution of the United States to carbon emissions. Their focus areas include “emissions trading, estimation of greenhouse gas reduction benefits, the role of uncertainty, and modeling the economic impacts of ocean acidification. NASA is a government agency focused on research of the planet. This resource hub provides graphs, charts, and research on global temperature, sea level change, and the loss of ice mass. The mission of the World Resources Institute is to “move human society to live in ways that protect Earth’s environment and its capacity to provide for the needs and aspirations of current and future generations.” This resource hub examines such topics as food risk, carbon emissions, and water access."Everyone deserves the opportunity to participate fully in our society and in our economy."—Jerome Powell, Chairman of the Federal Reserve
What Is Economic Inequality? Economic analysis often focuses on understanding the average effects of a given policy or program. While such analysis is important to gauge how the economy is doing, understanding how outcomes vary across geographic, demographic, and socioeconomic boundaries is key to grasping both the whole picture and the implications of any given policy.
The New York Fed conducts research to better understand what contributes to economic inequality in its many forms and we have provided an online collection of different resources available from the Bank and other sources.
Through this initiative, the New York Fed conducts research to better understand what contributes to economic inequality in its many forms. With a better understanding of the problem, we look to convene key stakeholders to discuss best practices and new strategies to support equitable growth in the region and the nation.The Opportunity & Inclusive Growth Institute was established in January 2017 with the goal, as Minneapolis Fed President Neel Kashkari said, “To conduct and promote research that will increase economic opportunity and inclusive growth for all Americans and help the Federal Reserve achieve its maximum employment mandate.”
The Brookings Institution is a nonprofit public policy organization based in Washington, DC. Their mission is to conduct in-depth research that leads to new ideas for solving problems facing society at the local, national and global level.
As the United States recovers from the Great Recession, EPI’s research in this area examines the increasing levels of economic inequality in connection with decreasing levels of economic mobility and rising levels of poverty.
The Stanford Center on Poverty and Inequality provides research, policy analysis, and training on issues of poverty and inequality.
The mission of the Manhattan Institute is to develop and disseminate new ideas that foster greater economic choice and individual responsibility.
Scholars across the Urban Institute are producing new insights about the overlapping dimensions of inequality, mobility, and inclusion.
Inequality.org is an online portal to data, analysis, and commentary on income and wealth inequality.
The Washington Center for Equitable Growth is a nonprofit research and grantmaking organization dedicated to advancing evidence-backed ideas and policies that promote strong, stable, and broad-based economic growth.
A nonpartisan research and policy institute that pursues federal and state policies designed both to reduce poverty and inequality and to restore fiscal responsibility in equitable and effective ways.
