Have you seen these people? You might come upon them wearing historic period garb.
In a previous post, we discussed bitcoin miners’ incentives to undertake a 51 percent attack given the current condition of the bitcoin market.
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.”
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 […]
Indicators of labor market slack enable economists to judge pressures on wages and prices.
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 […]
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 […]
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 […]
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 […]