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March 21, 2011

Welcome to Liberty Street Economics

James McAndrews and Simon Potter

On behalf of the Research and Statistics Group of the Federal Reserve Bank of New York, we welcome you to our new blog, Liberty Street Economics, named after the street where the New York Fed is located. We have created this blog to augment our existing publications by providing a way for our economists to engage with the public about economic issues quickly and frequently. Further, the less technical style that we are striving for in the blog posts should make the insights from our research informative to a broader audience.

You should expect to see posts on diverse issues and from a wide variety of perspectives. We will feature the work of the more than sixty economists in the Research and Statistics Group. This staff of active researchers supports Fed policymaking by providing analytical insight into a range of public policy issues and pursuing research on fundamental questions in economics and finance. In the course of their work here, economists develop expertise on a wide range of economic issues: international economics, asset pricing, corporate finance, banking, macroeconomics, monetary economics, fiscal policy, industrial organization, microeconomics, survey techniques, regional economics, and more. We believe that the blog is an effective medium for meeting our responsibility to share our analysis with you in an accessible and timely way.

Liberty Street Economics will also publish your comments and our responses in the hope of generating valuable dialogues. Like most bloggers, we will place some restrictions on the comments that we publish (see the Comment Guidelines in the left column), and because each comment will be reviewed by our staff, we will impose a twenty-four-hour deadline for the submission of comments on each post. The author(s) of the post will then provide a response to the posted comments within an additional twenty-four hours. We think that these parameters will allow for meaningful interactions, and we will review these policies as we gain more experience.

There are some topics that you will not find in the Liberty Street Economics blog. We will not be blogging on the next policy move of the Federal Open Market Committee (FOMC) or other issues that only the FOMC or other policymakers could know. And the blog posts will not necessarily reflect the official opinion of the Federal Reserve Bank of New York or the Federal Reserve System. Finally, because we will base our blog on analytical work, our entries will be less off-the-cuff and less likely to make sweeping or definitive statements than some blogs.

Taking all this into account, our blog editors, Erica Groshen, Don Morgan, and Robert Rich, are aiming for blog posts that are lively, clear, and analytically sound. We look forward to your feedback on how well we strike the balance among these writing goals.

We will begin by publishing new analytical posts twice per week, on Mondays and Wednesdays, except during holidays and the sensitive period leading up to, and just following, the FOMC meetings. On Fridays, our Research Library will provide a historical reading. Over time, we expect to increase the frequency of posts.

This blog is an exciting experiment for us, and we plan to refine our approach as we gain experience with publishing in this space. We look forward to having you read the blog, to hearing your comments, and to being able to respond to your comments in turn.


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We thank all the readers who found Liberty Street Economics in its first days of operation. Thanks too to those who commented and posed questions to us. It is especially good to learn that economics students are reading the blog, as we hope that the blog will be a good way for students to see concepts first learned in the classroom applied to current issues. Several commenters had questions regarding our use of social media and the format for the blog. Currently, we do not plan to create a separate Twitter or Facebook account for Liberty Street Economics. However, we have announced the launch of the blog to the Bank’s 4,500 followers on Twitter, and we will be alert to other ways of using social media to enhance our communications with the public. Regarding the RSS link, you can subscribe by using the “RSS feed” link located under “Tools” in the right column of the web page. Finally, the blog is designed to produce a printer-friendly version when you use the print feature in your browser. We appreciated your questions on the technical aspects of the blog and are happy to respond. Please use the “Send Us Feedback” link in the left column to submit future questions and comments.

is there a rss link to the main page of this blog (there seems to be a button to get updates on one specific blog entry, not for the entire blog)

Love how you are putting a human face on the brand and giving the public a chance to not only hear from, but have a voice into the organization. Nice work!

A most welcome addition to the Economics blogging community. Congratulations!

This blog should be interesting and thanks for creating. I am currently enrolled in macroeconomics and becoming familiar with terminology and can use all the expertise you can provide.

The comments to this entry are closed.

About the Blog

Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

The editors are Michael Fleming, Andrew Haughwout, Thomas Klitgaard, and Asani Sarkar, all economists in the Bank’s Research Group.

Liberty Street Economics does not publish new posts during the blackout periods surrounding Federal Open Market Committee meetings.

The views expressed are those of the authors, and do not necessarily reflect the position of the New York Fed or the Federal Reserve System.

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We encourage your comments and queries on our posts and will publish them (below the post) subject to the following guidelines:

Please be brief: Comments are limited to 1,500 characters.

Please be aware: Comments submitted shortly before or during the FOMC blackout may not be published until after the blackout.

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Disclosure Policy

The LSE editors ask authors submitting a post to the blog to confirm that they have no conflicts of interest as defined by the American Economic Association in its Disclosure Policy. If an author has sources of financial support or other interests that could be perceived as influencing the research presented in the post, we disclose that fact in a statement prepared by the author and appended to the author information at the end of the post. If the author has no such interests to disclose, no statement is provided. Note, however, that we do indicate in all cases if a data vendor or other party has a right to review a post.