Liberty Street Economics
March 29, 2013

Historical Echoes: I’ll Take “Happy Birthday, Fed!” for $400, Alex

The Federal Reserve System is getting ready to celebrate its 100th birthday.

March 27, 2013

Is Job Polarization Holding Back the Labor Market?

More than three years after the end of the Great Recession, the labor market still remains weak, with the unemployment rate at 7.7 percent and payroll employment 3 million less than its pre-recession level.

March 26, 2013

First Impressions Can Be Misleading: Revisions to House Price Changes

An assiduous follower of the national house price charts that the New York Fed maintains on its web page may have noticed that we appear to be rewriting history as we update the charts every month..

Posted at 9:30 am in Housing | Permalink | Comments (0)
March 25, 2013

A New Approach for Identifying Demand and Supply Shocks in the Oil Market

An oil-price spike is often used as the textbook example of a supply shock. However, rapidly rising oil prices can also reflect a demand shock. Recognizing the difference is important for central bankers.

March 11, 2013

The Region’s Job Rebound from Superstorm Sandy

Last October, Superstorm Sandy caused widespread destruction and massive disruptions to the regional economy, not to mention the lives of millions of residents.

Posted at 7:00 am in Regional Analysis | Permalink | Comments (0)
March 8, 2013

Historical Echoes: The Founding and Foundation of the New York Fed

On November 17, 1914, the New York Times reported on Treasury Secretary W. G. McAdoo’s involvement in the authorization of the Federal Reserve System’s operations, including a notice to member Banks, telegrams, and new Reserve notes.

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

Pick Your Poison: How Money Market Funds Reacted to Financial Stress in 2011

The summer of 2011 was an unsettling period for financial markets. In the United States, Congress was unable to agree to terms for raising the debt ceiling until August, creating considerable uncertainty over whether the government would be forced to default on its debt.

March 4, 2013

How the Nation Resolved Its First Debt Ceiling Crisis

In the second half of 1953, the United States, for the first time, risked exceeding the statutory limit on Treasury debt. How did Congress, the White House, and Treasury officials deal with the looming crisis?

Posted at 7:00 am in Financial Markets, Treasury | Permalink | Comments (0)
March 1, 2013

Historical Echoes: Retirement Timing Discussions with Nary a Mention of Finances

One would be hard-pressed to find a discussion about the timing of retirement these days that doesn’t mention finances.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
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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