The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
The New York Fed and New York Universitys Furman Center for Real Estate and Urban Policy cosponsored a conference in 2002 to examine public and private sector strategies to ease housing problems of low- and moderate-income families.
The papers from the conference analyze affordable housing from a national perspective as well as focus on the conditions unique to the New York City metro area. Key topics of interest include the cost burdens that housing places on low- and moderate-income families, policies designed to lower housing costs for these families, and efforts that inadvertently may have exacerbated the shortage of affordable housing.
Session 1: State of New York Citys Housing and Neighborhoods
"State of New York Citys Housing and Neighborhoods: An Overview of Recent Trends," by Michael H. Schill and Glynis Daniels, New York University.
Session 2: Affordable Housing and the Housing Market
"The Impact of Building Restrictions on Housing Affordability," by Edward L. Glaeser, Harvard, and Joseph Gyourko, University of Pennsylvania.
"Government Regulation and Changes in the Affordable Housing Stock," by C. Tsuriel Somerville, University of British Columbia, and Christopher J. Mayer, University of Pennsylvania.
Session 3: The Impact of Housing on People and Places
"Housing Production Subsidies and Neighborhood Revitalization: New York Citys Ten-Year Capital Plan for Housing," by Ingrid Gould Ellen, Michael H. Schill, Amy Ellen Schwartz, and Ioan Voicu, New York University.
"Effects of Homeownership on Children: The Role of NeighborhoodCharacteristics and Family Income," by Joseph M. Harkness and Sandra J. Newman, Johns Hopkins.
"The Impacts of New Neighborhoods on Poor Families: Evaluating the Policy Implications of the Moving to Opportunity Demonstration," by John Goering, Baruch College.
Session 4: Housing Subsidies and Finance
"Comparing the Costs of Federal Housing Assistance Programs," by Denise DiPasquale, City Research, and Dennis Fricke (ret.) and Daniel Garcia-Diaz, U.S. General Accounting Office.
"The Twenty-Fifth Anniversary of the Community Reinvestment Act: Past Accomplishments and Future Regulatory Challenges," by William C. Apgar and Mark Duda, Harvard.