Liberty Street Economics
September 30, 2015

Natural Experiment Sheds Light on the Market Effects of Herding

Pension funds are expected to behave in a patient, countercyclical manner, making the most of low valuations over the business cycle to achieve high returns.

September 28, 2015

Same Name, New Businesses: Evolution in the Bank Holding Company

When we think of banks, we typically have in mind our local bank branch that stores deposits and issues mortgages or business loans.

September 23, 2015

How Much Do Inflation Expectations Matter for Inflation Dynamics?

Inflation dynamics are often described by some form of the Phillips curve.

September 22, 2015

Do Better Bank Services Have a Hidden Cost?

You walk into a bank branch, check in hand.

Posted at 7:00 am in Financial Institutions | Permalink | Comments (3)
September 21, 2015

Are BHCs Mimicking the Fed’s Stress Test Results?

Angela Deng, Beverly Hirtle, and Anna Kovner In March, the Federal Reserve and thirty-one large bank holding companies (BHCs) disclosed their annual Dodd-Frank Act stress test (DFAST) results. This is the third year in which both the BHCs and the Fed have published their projections. In a previous post, we looked at whether the Fed’s […]

September 4, 2015

From the Vault: Understanding Puerto Rico’s Economic Challenges

Recent news examining the toll that a decade of stagnation, out-migration, and heavy debt has taken on Puerto Rico draws on work summarized in two Liberty Street Economics posts.

Posted at 7:00 am in Regional Analysis | Permalink | Comments (0)
September 2, 2015

Searching for Higher Wages

Luis Armona, Samuel Kapon, Laura Pilossoph, Ayşegül Şahin, and Giorgio Topa Since the peak of the recession, the unemployment rate has fallen by almost 5 percentage points, and observers continue to focus on whether and when this decline will lead to robust wage growth. Typically, in the wake of such a decline, real wages grow […]

September 1, 2015

A Distributed Version of Repugnance as a Constraint on Markets

The 2012 Nobel Prize in economics was awarded to Alvin E. Roth and Lloyd S. Shapley for their work on matching problems.

Posted at 7:00 am in Financial Markets | Permalink | Comments (1)
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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