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17 posts on "New Jersey"

December 18, 2012

The Welfare Costs of Superstorm Sandy

Jaison R. Abel, Jason Bram, Richard Deitz, and James Orr

As most of the New York metropolitan region begins to get back to normal following the devastation caused by superstorm Sandy, researchers and analysts are trying to assess the total “economic cost” of the storm. But what, exactly, is meant by economic cost? Typically, those tallying up the economic cost of a disaster think of two types of costs: loss of capital (property damage and destruction) and loss of economic activity (caused by disruptions). But there is another important type of economic loss that often is not estimated or discussed in policymaking decisions: loss of welfare or deterioration in quality of life. Here we focus on how superstorm Sandy (and other such disasters) can have widespread adverse effects on quality of life, and provide some illustrations of how one can try to put an approximate dollar value on this type of cost.

Continue reading "The Welfare Costs of Superstorm Sandy" »

Posted by Blog Author at 7:00 AM in Corporate Finance, New Jersey, Regional Analysis, Sandy | Permalink | Comments (0)

September 26, 2012

Just Released: August Indexes of Coincident Economic Indicators Show Uneven Growth across the Region

Jason Bram and James Orr

The August Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey, released today, give a mixed picture of current economic performance across the region. Economic activity in August expanded at a robust pace in New York City while activity in New York State and New Jersey grew at a more modest pace, continuing the pattern seen since the spring.

Continue reading "Just Released: August Indexes of Coincident Economic Indicators Show Uneven Growth across the Region" »

Posted by Blog Author at 9:15 AM in New Jersey, New York City, Regional Analysis | Permalink | Comments (0)

March 21, 2012

Just Released: January’s Indexes of Coincident Economic Indicators Show Fairly Robust Activity across the Region

Jason Bram and James Orr

The January Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey, released today, show fairly robust economic growth entering 2012. Importantly, this month’s release incorporates the annual benchmark employment revisions for 2010 and 2011, with the revised indexes revealing that the regional economy had more momentum in the second half of 2011 than previously thought.

Continue reading "Just Released: January’s Indexes of Coincident Economic Indicators Show Fairly Robust Activity across the Region" »

February 01, 2012

Tough Decisions, Depleted Revenues: New Jersey’s Education Finances during the Great Recession

Rajashri Chakrabarti and Sarah Sutherland*

Today’s post, which complements Monday’s on New York State, considers the Great Recession’s impact on education funding in New Jersey. Using analysis published in our recent staff report, “Precarious Slopes? The Great Recession, Federal Stimulus, and New Jersey Schools,” we examine how school finances were affected during the recession and the ARRA federal stimulus period. We find strong evidence of a significant decline—relative to trend—in school revenues and expenditures following the recession as well as key compositional changes that could affect school financing and student learning. Our findings are noteworthy in view of the importance of investing in children’s education for human capital formation and economic growth.

Continue reading "Tough Decisions, Depleted Revenues: New Jersey’s Education Finances during the Great Recession" »

August 24, 2011

Just Released: July’s Indexes of Coincident Economic Indicators Show Economic Activity Picking Up across the Region

James Orr

The July Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey, released today, reveal that economic activity continued to expand in both New York State and New York City and—for the second month in a row—picked up moderately in New Jersey.

Continue reading "Just Released: July’s Indexes of Coincident Economic Indicators Show Economic Activity Picking Up across the Region" »

Posted by Blog Author at 7:00 AM in New Jersey, New York City, Regional Analysis | Permalink | Comments (0)

May 09, 2011

The Great Recession and Recovery in the Tri-State Region

Jason Bram and James Orr

In 2008, as the financial crisis unfolded and the U.S. economy tumbled into a sharp recession, the outlook for the tri-state region (New York, New Jersey, and Connecticut) and especially New York City—the heart of the nation's financial industry—looked grim. Regional economists feared an economic downturn as harsh as the one in 2001, or the even deeper recession of the early 1990s. Now, as the recovery takes hold, we can report that although the economic downturn was severe in the region, with the unemployment rate surging above 9 percent in many places, it was less severe than many had anticipated. This post—which is based on the New York Fed’s May 6 Regional Economic Press Briefing—recaps how the Great Recession affected employment across the region, how the ensuing recovery has progressed, and what the prospects are for job growth as we go forward.


Continue reading "The Great Recession and Recovery in the Tri-State Region" »

Just Released: Household Debt and Credit Developments in the Nation and the Region in 2011:Q1

Andrew Haughwout, Donghoon Lee, and Wilbert van der Klaauw

This post gives our summary of the 2011:Q1 Quarterly Report on Household Debt and Credit, released today by the New York Fed. The report shows signs of healing in household balance sheets in the United States and the region, as measured by consumer debt levels, delinquency rates, foreclosure starts, and bankruptcies— although the regional data are somewhat mixed. The report captures the debt and credit activity of an anonymous, nationally representative panel of U.S. households.

Continue reading "Just Released: Household Debt and Credit Developments in the Nation and the Region in 2011:Q1 " »

Posted by Blog Author at 10:00 AM in Credit, Household Finance, New Jersey | Permalink | Comments (0)
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