Liberty Street Economics
November 30, 2012

Historical Echoes: The Aftermath of a Devastating Hurricane . . . in 1938

More than seventy-four years ago, on September 21, 1938, a devastating hurricane—sometimes referred to as the Long Island Express—struck the southern shore of Long Island without much warning, killing fifty people and causing massive property damage.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
November 29, 2012

Just Released: Press Briefing on Housing Conditions and the Economic Impact of Superstorm Sandy on the Region

At today’s regional economic press briefing, we provided an update on housing conditions as well as an initial assessment of superstorm Sandy’s economic impact on the region.

Posted at 1:00 pm in Housing, Regional Analysis | Permalink | Comments (0)
November 28, 2012

Just Released: New York’s Latest Beige Book Report Points to Weakening in the Aftermath of Superstorm Sandy

Jaison R. Abel and Jason Bram The regional economy experienced a weakening in the aftermath of superstorm Sandy, according to the New York Fed’s latest Beige Book report. Eight times a year, each of the nation’s twelve Federal Reserve Banks produces a report on current economic conditions in its District, based on largely anecdotal information […]

Posted at 2:15 pm in New York, Regional Analysis | Permalink | Comments (0)

The Different Paths of Greece and Spain to High Unemployment

Euro area GDP remains below its 2007 level due to the global financial meltdown
and the subsequent sovereign debt crisis in the periphery countries.

November 26, 2012

Household Services Expenditures: An Update

This post updates and extends my July 2011 blog piece on household discretionary services expenditures.

November 23, 2012

Historical Echoes: Reverse Bank Run, Or When the Money Came Rollin’ In

On March 6, 1933, President Roosevelt issued a proclamation of a national bank holiday, which prohibited the withdrawal of gold for hoarding and other purposes and resulted in the temporary closure of all banks in the United States.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
November 21, 2012

Doing Well by Doing Good? Community Development Venture Capital

In a new working paper, Josh Lerner and I explore how the venture capital (VC) model can be harnessed to achieve socially targeted ends by examining the investment record of community development venture capital (CDVC) firms.

November 19, 2012

Compensation Growth and Slack in the Current Economic Environment

Following a significant slowing during the recent recession, growth in various labor compensation measures has stabilized during the past two to three years.

November 16, 2012

Historical Echoes: 1947 Banking Basics, Step by Step

In 1947, if you didn’t quite understand banking basics, the ten-and-a-half-minute film “Using the Bank” might have served as an introduction.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (3)
November 15, 2012

Just Released: November Empire State Manufacturing Survey Points to Storm’s Effects

The results of this morning’s November Empire State Manufacturing Survey point to a slight decline in business conditions in New York’s manufacturing sector in the wake of “superstorm” Sandy.

Posted at 8:45 am in New York, Regional Analysis | Permalink | Comments (0)
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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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