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Features |
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CHIPS Supplemental Funding and its Effects on CHIPS, Overdrafts, and Fedwire  This report examines patterns of CHIPS supplemental funding and also analyzes the new initiative’s effect on CHIPS, participants’ overdrafts, and aggregate Fedwire activity. By Dennis Kuo, James McAndrews, and Clara Sheets, August 2009 |
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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. |
| Featured Economist |
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 Stavros PeristianiStavros Peristiani is an Assistant Vice President in the Financial Intermediation Function at the Federal Reserve Bank of New York. His research interests include banking and finance, theoretical and applied econometrics. | |
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Recent Articles
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 How Rigid Are Producer Prices?This article investigates the price rigidity of producer prices using microeconomic data from the U.S. Bureau of Labor Statistics. By Pinelopi Goldberg and Rebecca Hellerstein, Staff Reports 407, November 2009 |
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| Broker-Dealer Risk Appetite and Commodity Returns This paper shows that the risk-bearing capacity of securities brokers and dealers is a strong determinant of risk premia and the volatility of returns in commodity markets. By Erkko Etula, Staff Reports 406, November 2009 |
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| Micro, Macro, and Strategic Forces in International Trade Invoicing The 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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| Conventional and Unconventional Monetary Policy We extend a standard New Keynesian model both to incorporate heterogeneity in spending opportunities along with two sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining equilibrium. By Vasco Curdia and Michael Woodford, Staff Reports 404, November 2009 |
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A Bayesian Approach to Estimating Tax and Spending Multipliers This paper outlines a simple Bayesian methodology for estimating tax and spending multipliers in a dynamic stochastic general equilibrium (DSGE) model. By Matthew Denes and Gauti Eggertsson, Staff Reports 403, November 2009 |
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What Fiscal Policy is Effective at Zero Interest Rates? This paper shows that tax cuts can deepen a recession if the short-term nominal interest rate is zero, according to a standard New Keynesian business cycle model. By Gauti Eggertsson, Staff Reports 402, November 2009 |
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