Liberty Street Economics
November 30, 2015

U.S. Banks’ Changing Footprint at Home and Abroad

Linda S. Goldberg and Rose Wang

Linda Goldberg and Rose Wang investigate changes in bank holding company (BHC) geography, especially the rising share of BHC affiliates in tax havens and financial secrecy jurisdictions.

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Posted at 7:00 am in Banks, Dodd-Frank, Financial Institutions, International Economics, Regulation | Permalink | Comments (0)
November 23, 2015

End of the Road? Impact of Interest Rate Changes on the Automobile Market

Adam Copeland, George Hall, and Louis J. Maccini

The Federal Reserve has kept interest rates at historic lows for the last six years, but eventually rates will return to their long-term averages.

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Posted at 7:00 am in Macroecon, Monetary Policy | Permalink | Comments (3)
November 20, 2015

Crisis Chronicles: The Cotton Famine of 1862-63 and the U.S. One-Dollar Note

James Narron and Donald P. Morgan

When the U.S. Civil War broke out in 1861, cotton was king.  The southern United States produced and exported much of the world’s cotton, England was a major textile producer, and cotton textiles were exported from England around the world.

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Posted at 7:00 am in Crisis Chronicles, Economic History, Exports | Permalink | Comments (0)
November 19, 2015

Just Released: New and Improved Charts and Data on Auto Loans

By Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw

This analysis introduces an improved estimate of auto loan originations, some new charts, and some fresh data on the auto loan market based on New York Fed Consumer Credit Panel data.

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Posted at 1:00 pm in Household Finance | Permalink | Comments (0)
November 18, 2015

The Importance of Commodity Prices in Understanding U.S. Import Prices and Inflation

Thomas Klitgaard and Patrick Russo

The dollar rose sharply against both the euro and yen in 2014 and 2015 and non-oil import prices subsequently fell.

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Posted at 7:00 am in Inflation, International Economics, Macroecon, Monetary Policy | Permalink | Comments (0)
November 16, 2015

Should Monetary Policy Respond to Financial Conditions?

Bianca De Paoli

Bianca De Paoli There’s an ongoing debate about whether policymakers should respond to financial conditions when setting monetary policy. An argument is often made that financial stability concerns are more appropriately dealt with by using regulatory and macroprudential tools. This post offers a theoretical justification for policymakers to monitor and possibly respond to financial conditions […]

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Posted at 7:00 am in Financial Markets, Household Finance, Monetary Policy | Permalink | Comments (0)
November 13, 2015

Historical Echoes: The Fed’s Ties to the Barbie Doll

Amy Farber

Which of the following statements is true (you may choose more than one): (a) you are more likely to get a job at the Fed if you look like a Barbie doll, (b) you are less likely to get a job at the Fed if you look like a Barbie doll, (c) the inventor of the Barbie doll sat on the Board of Directors of a Federal Reserve Bank, (d) a key cleaner/restorer of the Federal Reserve Bank of New York building has strong ties to Architect Barbie, (e) a Federal Reserve Bank has used Barbie in its economic education program.

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Posted at 7:00 am in Historical Echoes | Permalink | Comments (0)
November 9, 2015

The New Overnight Bank Funding Rate

Marco Cipriani, Julia Gouny, Matthew Kessler, and Adam Spiegel

The Federal Reserve Bank of New York will begin publishing the overnight bank funding rate (OBFR) sometime in the first few months of 2016.

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Posted at 7:00 am in Financial Markets, Household Finance, Monetary Policy | Permalink | Comments (2)
November 6, 2015

Health Inequality

Giacomo De Giorgi and Maxim Pinkovskiy

However important income inequality is, it is only a partial representation of the inequality in well-being among individuals, households, counties, and other communities.

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Posted at 7:00 am in Labor Economics | Permalink | Comments (2)
November 5, 2015

How Did Quantitative Easing Interact with Regional Inequality?

Andreas Fuster

Income, or wealth, inequality is not something that central bankers generally worry about when setting monetary policy, the goals of which are to maintain price stability and promote full employment.

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Posted at 7:05 am in Household Finance, Housing, Inequality, Macroecon, Monetary Policy, Regional Analysis, Unemployment | Permalink | Comments (0)
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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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