Historical Echoes: Using Art and Artifacts to Understand the Impact of the Great Depression
The widespread distress caused by an economic downturn, such as the recent Great Recession, lingers long after economic indicators begin to recover, but it can also be the impetus for key structural reforms.
Labor Force Exits Are Complicating Unemployment Rate Forecasts
What will the unemployment rate be in 2013? Even if you were certain how much the U.S. economy (gross domestic product, or GDP) would grow over the next year or two, it would still be difficult to forecast the unemployment rate over that period.
Historical Echoes: Winning Essay on Central Banking Gets $100 (in 1910)
In 1910, Bankers Magazine announced that the American Institute of Banking would give prizes of $100 and $50 for the two best essays on central banking.
Central Bank Imbalances in the Euro Area
The euro area sovereign debt crisis sparked an outflow of bank deposits from countries in the periphery to commercial banks in Germany and other core countries.
When Do Trading Frictions Increase Liquidity?
Economists tend to assume that frictions that limit trading in financial markets reduce liquidity and lower investor welfare.
“Flip This House”: Investor Speculation and the Housing Bubble
The recent financial crisis—the worst in eighty years—had its origins in the enormous increase and subsequent collapse in housing prices during the 2000s.
Historical Echoes: Old‑Timey Films on the 1940 Censuses
In 1940, the Census Bureau produced two short films trumpeting the general census that year and the first-ever census of housing.
Designing Executive Compensation to Curb Bank Risk Taking
The financial crisis and its aftermath have spurred calls for bank compensation packages that mitigate risk-taking incentives.
Unintended Consequences in School Accountability Policies
Over the past two decades, state and federal education policies have tried to hold schools more accountable for educating their students.
The Liberty Street Economics Blog: An Update on Our Experience
Since the launch of the Liberty Street Economics blog in March 2011, our economists have published more than eighty-five posts on a range of issues such as financial sector reform, the global role of the dollar, the federal debt ceiling, and the U.S.-China trade imbalance.