Macroeconomic and Monetary Studies: Publications

Scholarly research on topics in macroeconomic and monetary policy as well as analysis of current economic, fiscal, and monetary conditions.
Liberty Street Economics
Just Released: The Inflation Outlook in the Euro Zone . . . Survey Says
Robert Rich, Kaivan K. Sattar, and Joseph Tracy
February 20, 2014
Why Is the Job-Finding Rate Still Low?
Victoria Gregory, Christina Patterson, Ayşegül Şahin, and Giorgio Topa
February 19, 2014
The Long and Short of It: The Impact of Unemployment Duration on Compensation Growth
M. Henry Linder, Richard Peach, and Robert Rich
February 12, 2014
Are Economic Values Transmitted from Parents to Children?
Marco Cipriani, Paola Giuliano, and Olivier Jeanne
January 6, 2014
Just Released: Deleveraging Decelerates and Household Balances Increase
Andrew Haughwout, Donghoon Lee, Wilbert van der Klaauw, and Joelle Scally
November 14, 2013
(Unmet) Credit Demand of American Households
Basit Zafar, Max Livingston, and Wilbert van der Klaauw
November 6, 2013
Waiting for Recovery: New York Schools and the Aftermath of the Great Recession
Rajashri Chakrabarti and Max Livingston
September 23, 2013
Preparing for Takeoff? Professional Forecasters and the June 2013 FOMC Meeting
Richard Crump, Stefano Eusepi, and Emanuel Moench
September 9, 2013
Consumer Confidence: A Useful Indicator of . . . the Labor Market?
Jason Bram, Robert Rich, and Joshua Abel
September 4, 2013
Creating a History of U.S. Inflation Expectations
Jan Groen and Menno Middeldorp
August 21, 2013
Just Released: Quarterly Report on Household Debt and Credit and New Auto Loan Analysis
Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw
August 14, 2013
Distressed Residential Real Estate: Dimensions, Impacts, and Remedies
Diego Aragon, Richard Peach, and Joseph Tracy
July 22, 2013
Do Bank Shocks Affect Aggregate Investment?
Mary Amiti and David Weinstein
July 8, 2013
Just Released: Are Recent College Graduates Finding Good Jobs?
Jaison R. Abel and Richard Deitz
June 27, 2013
Drilling Down into Core Inflation: Goods versus Services
M. Henry Linder, Richard Peach, and Robert Rich
June 5, 2013
A special Series on the Introduction of the FRBNY Survey of Consumer Expectations
Introducing the FRBNY Survey of Consumer Expectations: Survey Goals, Design, and Content
Olivier Armantier, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar
December 4, 2013
Introducing the FRBNY Survey of Consumer Expectations: Measuring Price Inflation Expectations
Olivier Armantier, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar
December 4, 2013
Introducing the FRBNY Survey of Consumer Expectations: Labor Market Expectations
Olivier Armantier, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar
December 5, 2013
Introducing the FRBNY Survey of Consumer Expectations: Household Finance Expectations
Olivier Armantier, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar
December 6, 2013
A special series on the System Open Market Account Portfolio
The SOMA Portfolio through Time
Meryam Bukhari, Alyssa Cambron, Michael Fleming, Jonathan McCarthy, and Julie Remache
August 12, 2013
A History of SOMA Income
By Meryam Bukhari, Alyssa Cambron, Marco Del Negro, and Julie Remache
August 13, 2013
What If? A Counterfactual SOMA Portfolio
Michael Fleming, Deborah Leonard, Grant Long, and Julie Remache
August 14, 2013
More Than Meets the Eye: Some Fiscal Implications of Monetary Policy
Marco Del Negro, Jamie McAndrews, and Julie Remache
August 15, 2013
A special series on the Labor Market
Prospects for the U.S. Labor Market
Jonathan McCarthy and Simon Potter
March 26, 2012
Okun’s Law and Long Expansions
Jonathan McCarthy, Simon Potter, and Ging Cee Ng
March 27, 2012
Skills Mismatch, Construction Workers, and the Labor Market
Richard Crump and Ayşegül Şahin
March 29, 2012
Reconciling Contrasting Signals in the Labor Market: The Role of Participation
Stefania Albanesi, Ayşegül Şahin, and Joshua Abel
March 30, 2012
How Low Will the Unemployment Rate Go?
Jonathan McCarthy, Simon Potter, and Ayşegül Şahin
April 2, 2012
Current Issues in Economics and Finance
The Parts Are More Than the Whole: Separating Goods and Services to Predict Core Inflation
Richard Peach, Robert Rich, and M. Henry Linder
Volume 19, Number 7  2013
New Jersey’s Abbott Districts: Education Finances during the Great Recession
Rajashri Chakrabarti and Sarah Sutherland
Volume 19, Number 4  2013
The Financial Crisis at the Kitchen Table: Trends in Household Debt and Credit
Meta Brown, Andrew Haughwout, Donghoon Lee, and Wilbert van der Klaauw
Volume 19, Number 2  2013
Staff Reports
LIBOR: Origins, Economics, Crisis, Scandal, and Reform
David Hou and David Skeie
Number 667  March 2014
Financial Stability Policies for Shadow Banking
Tobias Adrian
Number 664  February 2014
Liquidity Policies and Systemic Risk
Tobias Adrian and Nina Boyarchenko
Number 661  December 2013
The Over-the-Counter Theory of the Fed Funds Market: A Primer
Gara Afonso and Ricardo Lagos
Number 660  December 2013
Noisy Information and Fundamental Disagreement
Philippe Andrade, Richard K. Crump, Stefano Eusepi, and Emanuel Moench
Number 655  December 2013
Coordinating Monetary and Macroprudential Policies
Bianca De Paoli and Matthias Paustian
Number 653  November 2013
The Effects of Policy Guidance on Perceptions of the Fed’s Reaction Function
Katherine Femia, Steven Friedman, Brian Sack
Number 652  November 2013
Intermediary Balance Sheets
Tobias Adrian and Nina Boyarchenko
Number 651  November 2013
Fiscal Foundations of Inflation: Imperfect Knowledge
Stefano Eusepi and Bruce Preston
Number 649  October 2013
The Effects of the Saving and Banking Glut on the U.S. Economy
Alejandro Justiniano, Giorgio E. Primiceri, and Andrea Tambalotti
Number 648  October 2013
The FRBNY DSGE Model
Marco Del Negro, Stefano Eusepi, Marc Giannoni, Argia Sbordone, Andrea Tambalotti, Matthew Cocci, Raiden Hasegawa, and M. Henry Linder
Number 647  October 2013
Unemployment Benefits and Unemployment in the Great Recession: The Role of Macro Effects
Marcus Hagedorn, Fatih Karahan, Iourii Manovskii, and Kurt Mitman
Number 646  October 2013
Federal Reserve Tools for Managing Rates and Reserves
Antoine Martin, James McAndrews, Ali Palida, and David Skeie
Number 642  September 2013
Accounting for Breakout in Britain: The Industrial Revolution through a Malthusian Lens
Alexander Tepper and Karol Jan Borowiecki
Number 639  September 2013
Negative Equity and Housing Investment
Andrew Haughwout, Sarah Sutherland, and Joseph Tracy
Number 636  September 2013
Financial Education and the Debt Behavior of the Young
Meta Brown, Wilbert van der Klaauw, Jaya Wen, and Basit Zafar
Number 634  September 2013
Banks in International Trade Finance: Evidence from the U.S.
Friederike Niepmann and Tim Schmidt-Eisenlohr
Number 633  September 2013
The Fragility of Short-Term Secured Funding Markets
Antoine Martin, David Skeie, and Ernst-Ludwig von Thadden
Number 630  September 2013
The Macroeconomics of Trend Inflation
Guido Ascari and Argia M. Sbordone
Number 628  August 2013
Time Variation in Asset Price Responses to Macro Announcements
Linda S. Goldberg and Christian Grisse
Number 626  August 2013
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