Liberty Street Economics
January 16, 2015

Just Released: January Business Leaders Survey Indicates Regional Business Conditions Are Finally Back to Normal

The New York Fed’s January Business Leaders Survey indicates that the regional economy kicked off the New Year on a positive note.

Historical Echoes: The World of Bank Names, According to Andy Rooney

Did’ya ever notice how silly those Historical Echoes posts can get?

Posted at 7:00 am in Historical Echoes | Permalink | Comments (3)
January 14, 2015

FRN Follow-Up: Who Are the Market Participants?

Ezechiel Copic, Luis Gonzalez, Caitlin Gorback, Blake Gwinn, and Ernst Schaumburg On January 29, 2014, the U.S. Treasury held its first auction of a two-year floating-rate note (FRN), which pays a fixed spread over the floating thirteen-week bill rate rather than a fixed coupon. In this post, we investigate the aftermath of the January auction […]

Posted at 7:00 am in Exchange Rates | Permalink | Comments (0)
January 12, 2015

Hybrid Intermediaries

Nicola Cetorelli A successful hybrid is an offspring of two species that, in a new environment, is better suited for survival than its own parents. Evolution in the financial “ecosystem” seems to have driven the emergence of hybrid intermediaries.

Posted at 7:00 am | Permalink | Comments (0)
January 9, 2015

Historical Echoes: Metaphors for Monetary Policy and Some GMAT Nostalgia

Metaphors, similes, analogies – we know they’re not the same thing, but they can do pretty much the same job when illustrating what monetary policy is like (or what anything is like).

Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
January 7, 2015

What Does Disagreement Tell Us about Uncertainty?

Uncertainty is of considerable interest for understanding the behavior of individuals as well as the movements in key macroeconomic and financial variables.

January 5, 2015

Worker Flows in Banking Regulation

In the aftermath of the 2008 financial crisis, job transitions of personnel in banking supervision and regulation between the public and private sectors—often labeled the revolving door—have come under intense scrutiny and have been blamed by certain economists (Johnson and Kwak), legal scholars (John Coffee in the Financial Times), and policymakers (Dodd-Frank Act of 2010, Section 968) for distorting regulators’ actions in favor of banks.

January 2, 2015

Historical Echoes: The Demise of Silver Certificates

On June 24, 1968, thousands of people swarmed assay offices in the United States, anxious to unload their holdings of silver certificates.

Posted at 11:04 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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