Liberty Street Economics
August 25, 2014

Turnover in Fedwire Funds Has Dropped Considerably since the Crisis, but It’s Okay

Funds Service is a large-value payment system, operated by the Federal Reserve Bank of New York, that facilitates more than $3 trillion a day in payments.

August 22, 2014

Historical Echoes: Federal Reserve Clams

We’ve already talked about clams being used as money as late as 1933, but some genuine clam shells found during the construction of the New York Fed’s building at 33 Liberty Street sparked both geological interest and many witty remarks about “clams” being fossilized under a bank.

Posted at 7:00 am in Historical Echoes | Permalink | Comments (2)
August 20, 2014
August 18, 2014

Just Released: Firms Weigh in on Affordable Care Act in August Business Surveys

The Federal Reserve Bank of New York’s monthly surveys of manufacturers and service-sector firms include special supplementary questions on topics of interest.

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

Gates, Fees, and Preemptive Runs

In the academic literature on banks, “suspension of convertibility”—that is, preventing the exchange of deposits at par for cash—has traditionally been seen as a potential means of preventing economically damaging bank runs.

August 15, 2014

Historical Echoes: Caricatures of Financial Leaders in the National Portrait Gallery

Caricatures of Alan Greenspan and Warren Buffett in the National Portrait Gallery?

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
August 14, 2014

Just Released: Looking under the Hood of the Subprime Auto Lending Market

Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the second quarter of 2014. Aggregate debt was relatively flat in the second quarter as housing-related debt shrank, held down by sluggish mortgage originations. But non-housing debt balances […]

August 13, 2014

Why Didn’t Inflation Collapse in the Great Recession?

GDP contracted 4 percent from 2008:Q2 to 2009:Q2, and the unemployment rate peaked at 10 percent in October 2010.

August 11, 2014

Inflation in the Great Recession and New Keynesian Models

Since the financial crisis of 2007-08 and the Great Recession, many commentators have been baffled by the “missing deflation” in the face of a large and persistent amount of slack in the economy.

August 8, 2014

Crisis Chronicles: The Hamburg Crisis of 1799 and How Extreme Winter Weather Still Disrupts the Economy

With intermittent war raging across much of Western Europe near the end of the eighteenth century, by about 1795, Hamburg had replaced Amsterdam as an important hub for commodities trade.

Posted at 7:00 am in Crisis Chronicles, Exports | 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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