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16 posts on "Education"

November 20, 2013

Just Released: Lifting the Veil—For-Profits in the Higher Education Landscape

Rajashri Chakrabarti and John Grigsby

Higher education is pivotal in our society—yet, its landscape is changing. Over the past decade, the private, for-profit sector of higher education has seen unprecedented growth, and its market share is at an all-time high. While we know much about traditional four-year public and private non-profit institutions, the for-profit sector seems more opaque. What services does it provide? Who enrolls at for-profits, and how has their enrollment changed during the Great Recession? What are their tuition levels? How about their net prices and student loans? And do their students succeed? We shed some light on these important questions in today’s economic press briefing at the Federal Reserve Bank of New York, and in a new set of interactive maps and charts released today by the New York Fed.

Continue reading "Just Released: Lifting the Veil—For-Profits in the Higher Education Landscape" »

Posted by Blog Author at 10:00 AM in Education, Labor Economics | Permalink | Comments (2)

September 23, 2013

Waiting for Recovery: New York Schools and the Aftermath of the Great Recession

Rajashri Chakrabarti and Max Livingston

A key institution that was significantly affected by the Great Recession is the school system, which plays a crucial role in building human capital and shaping the country’s economic future. To prevent major cuts to education, the federal government allocated $100 billion to schools as part of the American Recovery and Reinvestment Act of 2009 (ARRA), commonly known as the stimulus package. However, the stimulus has wound down while many sectors of the economy are still struggling, leaving state and local governments with budget squeezes. In this post, we present some key findings on how school finances in New York State fared during this period, drawing on our recent study and a series of interactive graphics. As the stimulus ended, school district funding fell dramatically and districts across the state enacted significant cuts across the board, affecting not only noninstructional spending but also instructional spending—the category most closely related to student learning.

Continue reading "Waiting for Recovery: New York Schools and the Aftermath of the Great Recession" »

Posted by Blog Author at 7:00 AM in Education, Labor Economics, Regional Analysis | Permalink | Comments (0)

July 22, 2013

Just Released: Mapping Changes in School Finances

Rajashri Chakrabarti and Max Livingston

This morning, the New York Fed released a set of interactive maps and charts illuminating school finances in New York and New Jersey. These user-friendly graphics illustrate the progression of various school finance indicators over time. They also make clear the large variability in finances across districts and states.  

Continue reading "Just Released: Mapping Changes in School Finances" »

Posted by Blog Author at 7:02 AM in Education, Regional Analysis | Permalink | Comments (1)

June 27, 2013

Just Released: Are Recent College Graduates Finding Good Jobs?

Jaison R. Abel and Richard Deitz

Stories abound about recent college graduates who are struggling to find good jobs in today’s economy, especially with student debt levels rising so quickly. But just how bad are the job prospects for recent college graduates when one moves beyond anecdotes and looks at the data? How widespread is unemployment? And how common is it for college graduates to work in a job that doesn’t require a bachelor’s degree—that is, how widespread is underemployment? We examined these questions at today’s economic press briefing at the Federal Reserve Bank of New York.

Continue reading "Just Released: Are Recent College Graduates Finding Good Jobs?" »

Posted by Blog Author at 12:00 PM in Education | Permalink | Comments (0)

May 20, 2013

Do Big Cities Help College Graduates Find Better Jobs?

Jaison R. Abel and Richard Deitz

Although the unemployment rate of workers with a college degree has remained well below average since the Great Recession, there is growing concern that college graduates are increasingly underemployed—that is, working in a job that does not require a college degree or the skills acquired through their chosen field of study. Our recent New York Fed staff report indicates that one important factor affecting the ability of workers to find jobs that match their skills is where they look for a job. In particular, we show that looking for a job in big cities, which have larger and thicker local labor markets (that is, bigger markets with many buyers and sellers), can give workers a better chance to find a job that fits their skills.

Continue reading "Do Big Cities Help College Graduates Find Better Jobs?" »

Posted by Blog Author at 7:00 AM in Education, Labor Economics, Regional Analysis | Permalink | Comments (3)

February 28, 2013

Just Released: Press Briefing on Household Debt and Credit

Meta Brown, Andrew Haughwout, Donghoon Lee, Joelle Scally,
and Wilbert van der Klaauw


This morning, New York Fed director of research Jamie McAndrews joined Bank economists to brief the press on economic developments. With this morning’s release of the Quarterly Report on Household Debt and Credit for 2012:Q4, the briefing focused specifically on recent developments in household debt and credit.

Continue reading "Just Released: Press Briefing on Household Debt and Credit" »

Posted by Blog Author at 1:00 PM in Education, Household Finance, Housing | Permalink | Comments (0)

February 06, 2013

How Did Education Financing in New Jersey’s Abbott Districts Fare during the Great Recession?

Rajashri Chakrabarti and Sarah Sutherland

In the state of New Jersey, any child between the ages of five and eighteen has the constitutional right to a thorough and efficient education. The state also has one of the country’s most rigid policies regarding a balanced budget. When state and local revenues took a big hit in the most recent recession, officials had to make tough decisions about education spending. In this post, we analyze education financing and spending in two groups of high-poverty districts during the Great Recession and the ARRA (American Recovery and Reinvestment Act of 2009) federal stimulus period—the Abbott and Bacon districts. Analysis in our recent New York Fed staff report shows that the Abbott districts exhibited the sharpest declines—relative to trend—in both total funding and total spending per pupil during the post-recession era. Additionally, the Abbott districts were the only group of districts in New Jersey to present statistically significant negative shifts in instructional spending, even with the federal stimulus.

Continue reading "How Did Education Financing in New Jersey’s Abbott Districts Fare during the Great Recession?" »

Posted by Blog Author at 7:00 AM in Education, Regional Analysis | Permalink | Comments (0)

October 15, 2012

The Minimum Balance at Risk: A Proposal to Stabilize Money Market Funds

Marco Cipriani, Michael Holscher, Antoine Martin, and Patrick McCabe  

In a June post, we explained why the design of money market funds (MMFs) makes them prone to runs and thereby contributes to financial instability. Today, we outline a proposal for strengthening MMFs that we’ve put forward in a recent New York Fed staff report. The proposal aims to reduce, and possibly eliminate, the incentive for investors to run from a troubled fund, while retaining the defining features of money market funds that make them popular financial products. U.S. Treasury Secretary Timothy Geithner, in a recent letter to the Financial Stability Oversight Council, requested that it consider an idea similar to what we described in our staff report as one of several potential options for reforming MMFs to address their structural vulnerabilities.

Continue reading "The Minimum Balance at Risk: A Proposal to Stabilize Money Market Funds" »

Posted by Blog Author at 7:00 AM in Education, Financial Institutions | Permalink | Comments (0)

September 19, 2012

Soaring Tuitions: Are Public Funding Cuts to Blame?

Rajashri Chakrabarti, Maricar Mabutas, and Basit Zafar

Public colleges and universities play a vital role in training a state’s workforce, yet state support for higher education has been declining for years. As a share of total revenues for America’s public institutions of higher education, state and local appropriations have fallen every year over the past decade, dropping from 70.7 percent in 2000 to 57.1 percent in 2011. At the same time, college enrollment numbers have swelled across the country—public institutions’ rolls grew from 8.6 million full-time students in 2000 to 11.8 million in 2011. Faced with dwindling funding from the states, public institutions of higher education have been forced to find ways to shift their costs or raise revenue on their own. In this post, we analyze the relationship between changes in state and local funding for higher education and changes in public institution tuition.

Continue reading "Soaring Tuitions: Are Public Funding Cuts to Blame?" »

Posted by Blog Author at 7:00 AM in Education, Fiscal Policy | Permalink | Comments (4)

April 16, 2012

Just Released: The Federal Reserve in the 21st Century 2012 Symposium

Eric Tucker*

The Federal Reserve in the 21st Century (Fed 21) symposium on monetary policy and financial stability recently brought together over 225 college professors from around the region and the world. The annual two-day event gives professors who teach economics, finance, or business the opportunity to hear presentations from top Federal Reserve Bank of New York economists and senior staff and ask them questions. Fed 21 is part of the Bank’s broader efforts to increase public understanding of the Federal Reserve System’s role in conducting monetary policy and ensuring financial stability.

Continue reading "Just Released: The Federal Reserve in the 21st Century 2012 Symposium" »

Posted by Blog Author at 7:00 AM in Education | Permalink | Comments (0)
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