Liberty Street Economics
February 28, 2013

Just Released: Press Briefing on Household Debt and Credit

This morning, New York Fed director of research Jamie McAndrews joined Bank economists to brief the press on economic developments.

February 27, 2013

State Unemployment and the Allocation of Federal Stimulus Spending

Fiscal stimulus, in the form of large discretionary increases in federal spending and tax reductions, is often triggered by a strong and persistent rise in the national unemployment rate.

February 25, 2013

The Macroeconomic Effects of Forward Guidance

In this post, we quantify the macroeconomic effects of central bank announcements about future federal funds rates, or forward guidance.

February 22, 2013

Historical Echoes: Cash or Credit? Payments and Finance in Ancient Rome

Imagine yourself a Roman citizen in the 1st Century B.C. You’ve gone shopping with your partner, who’s trying to convince you to buy a particular item.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (7)
February 20, 2013

Primary Dealers’ Waning Role in Treasury Auctions

On December 12, 2012, primary government securities dealers bought just 33 percent of the new ten-year Treasury notes sold at auction.

February 15, 2013

Historical Echoes: Bankers Behaving Calculatingly – with Slide Rules

How do bankers do calculations? Currently, on the computer (or calculator).

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
February 13, 2013

Underwater and Drowning? Some Facts about Mortgages that Could Be Targeted by Eminent Domain

Since the onset of the subprime crisis, many places across the United States have been affected by high levels of negative equity (meaning that borrowers owe more on their mortgages than their homes are worth), an associated flood of foreclosures, and loss of local wealth.

February 11, 2013

The Exchange Rate Disconnect

Why do large movements in exchange rates have small effects on international goods prices?

February 8, 2013

Historical Echoes: Neither a Lender nor a Borrower Be, or When the Bard Met the Fed

These lines come from a 1929 play, Shakespeare in Wall Street, a mash-up of famous Shakespearean characters from various plays set to the story of the stock market crisis just then in motion.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
February 6, 2013

How Did Education Financing in New Jersey’s Abbott Districts Fare during the Great Recession?

In the state of New Jersey, any child between the ages of five and eighteen has the constitutional right to a thorough and efficient education.

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.

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