40 posts on "Fiscal Policy"
August 31, 2015
May 7, 2015
From the Vault: Monetary Policy and Government Finances
Anna Snider Each year, the manager of the Federal Reserve’s System Open Market Account (SOMA) submits an accounting of open market operations and other developments influencing the composition and performance of the Fed’s balance sheet to the Federal Open Market Committee (FOMC).
Posted at 7:00 am in Fiscal Policy | Permalink
April 17, 2015
At the New York Fed: Chapter 9 and Alternatives for Distressed Municipalities and States
On Tuesday, April 14, the Federal Reserve Bank of New York hosted an all-day workshop entitled Chapter 9 and Alternatives for Distressed Municipalities and States. The workshop was jointly organized and sponsored by the Volcker Alliance and George Mason University’s State and Local Government Leadership Center. The event brought together key experts, practitioners, and researchers on the subject of fiscal distress at the state and local level. The aim of the session was to foster discussion on the role of Chapter 9 of the U.S. Bankruptcy Code, alternatives for distressed governments, and strategies to avoid stress and achieve good fiscal outcomes.
April 1, 2015
Central Bank Solvency and Inflation
Marco Del Negro and Christopher A. Sims The monetary base in the United States, defined as currency plus bank reserves, grew from about $800 billion in 2008 to $2 trillion in 2012, and to roughly $4 trillion at the end of 2014 (see chart below). Some commentators have viewed this increase in the monetary base […]
August 13, 2014
Why Didn’t Inflation Collapse in the Great Recession?
GDP contracted 4 percent from 2008:Q2 to 2009:Q2, and the unemployment rate peaked at 10 percent in October 2010.
Posted at 7:00 am in DSGE, Fiscal Policy, Macroeconomics, Monetary Policy, Recession, Unemployment | Permalink | Comments (4)
June 23, 2014
The Capitol Since the Nineteenth Century: Political Polarization and Income Inequality in the United States
Even the most casual observer of American politics knows that today’s Republican and Democratic parties seem to disagree with one another on just about every issue under the sun
August 16, 2013
Transparency and Sources of Information on the Federal Reserve’s Operations, Income, and Balance Sheet
This week-long series examined the evolution of the Federal Reserve’s securities portfolio and its performance over time.
August 15, 2013
More Than Meets the Eye: Some Fiscal Implications of Monetary Policy
In 2012, the Fed’s remittances to the U.S. Treasury amounted to $88.4 billion.
August 14, 2013
What If? A Counterfactual SOMA Portfolio
The Federal Open Market Committee (FOMC) has actively used changes in the size and composition of the System Open Market Account (SOMA) portfolio to implement monetary policy in recent years.
August 13, 2013
A History of SOMA Income
Historically, the Federal Reserve has held mostly interest-bearing securities on the asset side of its balance sheet and, up until 2008, mostly currency on its liability side, on which it pays no interest.
Posted at 7:00 am in Fiscal Policy | Permalink
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