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Our seminars, training programs, and conferencesand our account relationships with the international central banking communityposition the Federal Reserve Bank of New York as a leader in policy, technology, and education for central bankers.
On behalf of the Federal Reserve System, we provide correspondent and custodial banking services for central banks, monetary authorities, and certain international organizations to facilitate their official financial operations.
|About International Affairs
International Affairs arranges seminars, training, technical assistance and visitor appointments for central banks and related international organizations.
|Spring 2013: Specialized Training Programs |
The weeks of May 6-9 and May 13-16, 2013 we will offer four specialized courses. Central bank governors will receive invitations to nominate participants in February 2013.
Fall 2013: Central Banking Seminar and Specialized Training Programs
| Why Is the U.S. Share of World Merchandise Exports Shrinking?
As the U.S. share of the world goods trade slips from its level in the 1980s and 1990s, concerns have arisen that the productivity of U.S. exporters has not been growing as fast as that of foreign firms selling similar products. However, an analysis of industry-level trade data suggests that two other factors explain much of the drop in export share: the changing composition of the products traded internationally and the diminished share of U.S. GDP in global output. Declining relative productivity may have played a role in the early 2000s, but it has not been a large factor across industries over the longer term. Overall, there is little evidence of a broad-based decline in the nation's ability to compete in global markets.
by Benjamin R. Mandel, Current Issues in Economics and Finance (18) 1, February 2012
|Monetary Policy Implementation: Common Goals but Different Practices
While the goals that guide monetary policy in different countries are very similar, central banks diverge in their methods of implementing policy. This study of the policy frameworks of four central banks—the Federal Reserve, the European Central Bank, the Bank of England, and the Swiss National Bank—focuses on two notable areas of difference. The first is the choice of an interest rate target, a standard feature of conventional monetary policy. The second is the choice of instruments for managing the central banks' expanded balance sheets—a decision made necessary by the banks' unconventional practice of acquiring large quantities of assets during the financial crisis.
by Marlene Amstad and Antoine Martin, Current Issues in Economics and Finance (17) 7, November 2011
|Saving Imbalances and the Euro Area Sovereign Debt Crisis
For several years prior to 2010, countries in the euro area periphery engaged in heavy borrowing from foreign private investors, allowing domestic spending to outpace incomes. Now these countries face debt crises reflecting a loss of investor confidence in the sustainability of their finances. The result has been an abrupt halt in private foreign lending to these economies. This study explains how the periphery countries became dependent on foreign borrowing and considers the challenges they face reigniting growth while adjusting to greatly reduced access to foreign capital.
by Matthew Higgins and Thomas Klitgaard, Current Issues in Economics and Finance (17) 5, 2011