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| Global Economy |
| Our economists research and analyze global macroeconomics, trade, development, and other international economic issues relating to the New York Fed's core missions. |
| Features |
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| Global Dimensions of the Financial Crisis The Federal Reserve Bank of New York will host a conference on June 3 and 4, 2010, on the “Global Dimensions of the Financial Crisis.” The deadline for submissions of completed or draft manuscripts is Friday, October 30, 2009. |
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| Industry-Specific Exchange Rates Time-series data, updated through December 2008, have been posted on US industry-specific exchange rates and industry trade exposures. The data for manufacturing and non-manufacturing industries are presented in two formats, spreadsheets and charts. These data are useful references for discussions of the real consequences of globalization and exchange rates. |
| Recent Articles |
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 Micro, Macro, and Strategic Forces in International Trade InvoicingThe authors use a new, highly disaggregated data set to assess the roles of the various invoicing determinants. By Linda Goldberg and Cedric Tille, Staff Reports 405, November 2009 |
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The Determinants of International Flows of U.S. Currency
This paper examines the determinants of cross-border flows of U.S. dollar banknotes, using a new panel data set of bilateral flows between the United States and 103 countries from 1990 to 2007. By Rebecca Hellerstein and William Ryan, Staff Reports 400, October 2009 |
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 The Global Financial Crisis and Offshore Dollar MarketsThe authors examine the unusual increase in the euro-dollar foreign exchange swap basis, which is an interest rate differential relative to dollar LIBOR, during the crisis of 2007 and 2008. By Niall Coffey, Warren B. Hrung, Hoai-Luu Nguyen, and Asani Sarkar, Current Issues in Economics and Finance (15) 6, October 2009 |
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| Prices and Quantities in the Monetary Policy Transmission Mechanism The financial crisis that erupted in the summer of 2007 has refocused attention on other channels of monetary policy, notably the transmission of policy through the supply of credit and overall conditions in the capital markets. By Tobias Adrian and Hyun Song Shin, Staff Reports 396, September 2009 |
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| Liquidity Risk, Credit Risk and The Federal Reserve's Responses to the Crisis In this paper, I examine the Fed's actions in light of the underlying financial amplification mechanisms propagating the crisis- in particular, balance sheet constraints and counterparty credit risk. By Asani Sarkar, Staff Reports 389, September 2009 |
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| Real-Time Inflation Forecasting in a Changing World This paper revisits inflation forecasting using reduced-form Phillips curve forecasts, that is, inflation forecasts that use activity and expectations variables. By Jan J. J. Groen, Richard Paap, and Francesco Ravazzolo, Staff Reports 388, August 2009 |
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| More ›› |
| Current Economic Indicators |
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Foreign Exchange Rates  Monthly average values of the U.S. dollar against foreign currencies. 1 page / 11 kb |
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International Long-Term Interest Rates Monthly averages values for international long-term interest rates. 1 page / 11 kb |
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| Global Economic Indicators ›› |
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| Industry Specific Exchange Rates ›› |
| Files in PDF format require ADOBE® READER® SOFTWARE |
