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22 posts from "August 2015"
August 31, 2015

Discounting the Long Run

Expectations about the path of interest rates matter for many economic decisions.

August 28, 2015

Historical Echoes: How Members of the Society for Creative Anachronism Make Money

Have you seen these people? You might come upon them wearing historic period garb.

Posted at 7:00 am in Historical Echoes | Permalink

Entry and Exit Leads to Zero Profit for Bitcoin Miners

In a previous post, we discussed bitcoin miners’ incentives to undertake a 51 percent attack given the current condition of the bitcoin market.

Posted at 7:00 am in Financial Markets | Permalink
August 27, 2015

From the Vault: Supplementing a Monetary Policy Syllabus

Liberty Street Economics posts from New York Fed economists can serve as teaching tools for new monetary policy and lending tools that are “not found in any textbook.”

Posted at 7:00 am in Fed Funds, Monetary Policy | Permalink
August 26, 2015

Just Released: An Update on Regional Economic Conditions Provided at Our Economic Press Briefing

Jaison R. Abel, Jason Bram, Richard Deitz, and James Orr Today’s Economic Press Briefing at the New York Fed presented our economic outlook for New York, Northern New Jersey, and Puerto Rico. We showed that many parts of the region have bounced back quite well from the Great Recession and are growing at a solid […]

Mind the Gap: Assessing Labor Market Slack

Indicators of labor market slack enable economists to judge pressures on wages and prices.

August 25, 2015

Incentive Pay and Gender Compensation Gaps for Top Executives

Stefania Albanesi, Claudia Olivetti, and Maria Prados The persistence of a gender gap in wages is shaping the debate over women’s equality in the workplace and underscores the challenge facing policymakers as they consider their potential role in closing it. While the disparity affects females at all income levels, women in professional and managerial occupations […]

Posted at 7:00 am in Inequality, Labor Market | Permalink | Comments (2)
August 24, 2015

Rethinking Mortgage Design

John Campbell, Andreas Fuster, David O. Lucca, Stijn Van Nieuwerburgh, and James Vickery Because mortgages make up the majority of household debt in most developed countries, mortgage design has important implications for macroeconomic policy and household welfare. As one example, most U.S. mortgages have fixed interest rates—if interest rates fall, existing borrowers need to refinance […]

Posted at 7:00 am in Household Finance, Housing | Permalink | Comments (1)
August 21, 2015

What’s Driving Dealer Balance Sheet Stagnation?

Tobias Adrian, Michael J. Fleming, Daniel Stackman, and Erik Vogt Fifth in a five-part series Securities brokers and dealers (“dealers”) engage in the business of trading securities on behalf of their customers and for their own account, and use their balance sheets primarily for trading operations, particularly for market making. Total financial assets of dealers […]

August 20, 2015

The Evolution of Workups in the U.S. Treasury Securities Market

Michael J. Fleming, Ernst Schaumburg, and Ron Yang Fourth in a five-part series The market for benchmark U.S. Treasury securities is one of the deepest and most liquid in the world. Although trading in the interdealer market for these securities is over-the-counter, it features a central limit order book (CLOB) similar to that found in […]

Posted at 7:00 am in Liquidity, Treasury | Permalink
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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.

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