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| Our economists produce publications and working papers of interest to policymakers, academics, business and banking professionals, and the general public. More » |
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Features |
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| 6th Annual Central Bank Workshop
on the Microstructure of Financial Markets The Federal Reserve Bank of New York and Brandeis International Business School will host this workshop, where researchers and practitioners will discuss issues central to the design, regulation, and use of financial markets, including liquidity, bid-ask spreads, transparency, and market structure. |
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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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 Aysegul SahinAysegul Sahin joined the Federal Reserve Bank of New York in June 2004 as an Economist in the Macroeconomic and Monetary Studies Function. Her recent research focuses on the analysis of the labor market, the risk of displacement and costs of business cycles, and the welfare effects of cyclical policies under incomplete markets. | |
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Recent Articles
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 Policy Analysis Using DSGE Models: An IntroductionThis article introduces the basic structure, logic, and application of the DSGE framework to a broader public by providing an example of its use in monetary policy analysis. By Argia M. Sbordone, Andrea Tambalotti, Krishna Rao, and Kieran Walsh, Economic Policy Review, Forthcoming |
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 Large-Scale Asset Purchases by the
Federal Reserve: Did They Work?In this paper, we explain how these purchases were implemented and discuss the mechanisms through which they can affect the economy. By Joseph Gagnon, Matthew Raskin, Julie Remache, and Brian Sack, Staff Reports 441, March 2010 |
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| Productivity and the Density of Human Capital The authors estimate a model of urban productivity in which the agglomeration effect of density is enhanced by a metropolitan area’s stock of human capital. By Jaison Abel, Ishita Dey, and Todd Gabe, Staff Reports 440, March 2010 |
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| The Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09 The authors describe the changing nature of financial intermediation in the market-based financial system, chart the course of the recent financial crisis, and outline the policy responses that have been implemented by the Federal Reserve and other central banks. By Tobias Adrian and Hyun Song Shin, Staff Reports 439, March 2010 |
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| Liquidity-Saving Mechanisms in Collateral-Based RTGS Payment Systems This paper studies banks’ incentives for choosing the timing of their payment submissions in a collateral-based real-time gross settlement payment system and the way in which these incentives change with the introduction of a liquidity-saving mechanism (LSM). By Marius Jurgilas and Antoine Martin, Staff Reports 438, March 2010 |
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