Liberty Street Economics
May 30, 2012

Just Released: Regional Economic Press Briefing on Job Polarization and Rising Inequality

Over the past three decades, the United States has seen substantial growth in both high- skill and low-skill jobs, while growth of those in the middle has stagnated.

Are CDS Derivatives Associated With Higher Corporate Defaults?

Title VII of the Dodd-Frank Act requires that some derivatives contracts be traded on centralized exchanges.

Posted at 7:00 am in Financial Institutions | Permalink | Comments (3)
May 25, 2012

Historical Echoes: From the Bonfires to the Frozen Assets

What do the Italian Renaissance and the Great Depression have in common?

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
May 23, 2012

What’s Driving Up Money Growth?

Two key monetary aggregates, M1 and M2, have grown quickly recently—especially M1, the narrow aggregate.

May 21, 2012

What Falling Export Share Says about U.S. Export Competitiveness

The U.S. market share of world merchandise exports has declined sharply over the past decade.

Just Released: The Euro-zone Growth Outlook – Calm Before the Storm?

The European Central Bank (ECB) released the results of its 2012:Q2 Survey of Professional Forecasters (SPF) on May 3.

May 18, 2012

Historical Echoes: Our Checking Accounts, Ourselves – Or, Say Good Night, Gracie’s Checking Account

An extensive 2009 exhibit, “Women Making Financial History,” chronicles the history of the relationship of women to finance.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
May 16, 2012

The Private Premium in Public Bonds?

In a 2012 New York Fed study, Chenyang Wei and I find that interest rate spreads on publicly traded bonds issued by companies with privately traded equity are about 31 basis points higher on average than spreads on bonds issued by companies with publicly traded equity, even after controlling for risk and other factors.

May 14, 2012

The Great Moderation, Forecast Uncertainty, and the Great Recession

The Great Recession of 2007-09 was a dramatic macroeconomic event, marked by a severe contraction in economic activity and a significant fall in inflation.

Posted at 7:00 am in Great Recession, Macroecon | Permalink | Comments (0)
May 11, 2012

Just Released: The New York Fed Staff Forecast—May 2012

We are presenting the New York Fed staff outlook for the U.S. economy to the New York Fed’s Economic Advisory Panel (EAP) at their meeting here today.

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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.

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