Liberty Street Economics
October 21, 2013

Long Island’s Economy Back on Track after Sandy

In late October last year, Superstorm Sandy devastated and disrupted much of the tri-state region, including a large swath of Long Island.

Posted at 7:00 am in Regional Analysis | Permalink | Comments (0)
October 18, 2013

Historical Echoes: Passbooks and Hand Grenades

The Postal Savings System began in 1911 as a means for communities without banks to allow its citizens access to basic banking services.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (2)
October 16, 2013

Dealer Balance Sheet Capacity and Market Liquidity during the 2013 Selloff in Fixed-Income Markets

Tobias Adrian, Michael J. Fleming, Jonathan E. Goldberg, Morgan Lewis, Fabio M. Natalucci, and Jason J. Wu Long-term interest rates hit record-low levels in 2012 but have since increased substantially. As discussed in an earlier post, the sharpest increase occurred between May 2 and July 5 of this year, with the ten-year Treasury yield rising from 1.63 percent […]

A Look at Bank Loan Performance

U.S. banks experienced a rapid rise in loan delinquencies and defaults during the 2007-09 recession, driven by rising unemployment and falling real estate prices, among other factors.

October 11, 2013

Historical Echoes: Throwing Coins into a Fountain—Who Is Getting Paid?

Amy Farber Do you throw coins into a fountain when you see that others have done so?  A comprehensive and thoughtful student project on wishing well use in Southern California has been posted on the internet by University of California, Irvine, anthropology professor Bill Maurer. The 2006 project bases its findings on interviews of people […]

Posted at 7:00 am in Historical Echoes | Permalink | Comments (1)
October 9, 2013

Twenty-Eight Money Market Funds That Could Have Broken the Buck: New Data on Losses during the 2008 Crisis

Marco Cipriani, Michael Holscher, Antoine Martin, and Patrick E. McCabe During the financial crisis in 2008, just one money market fund (MMF) “broke the buck”—that is, its share price dropped below one dollar. The Reserve Primary Fund announced on September 16 that the value of its shares had dropped to 97 cents. As we discussed in […]

October 7, 2013

What’s News?

Linda S. Goldberg Economic news moves markets. Most analyses find that economic news is incorporated quickly (within minutes) into asset prices, with some measurable persistence of these effects, and with some spillovers across national borders. Some types of announcements—for example, U.S. nonfarm payrolls announcements—generate much larger asset price responses than others. Generally, news that is […]

October 4, 2013

Historical Echoes: A Central Bank by Any Other Name Is Still . . .

Amy Farber Perhaps you enjoy being read to out loud. Perhaps you enjoy being read to on subjects related to central banking. Perhaps you would enjoy being read the Wikipedia entries for central banks around the world. If so, and your reader was to read the following beginning sentences for central bank entries, you would […]

October 2, 2013
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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