Just Released: SCE Credit Access Survey Shows Higher Likelihood of Consumers Applying for Credit
The Federal Reserve Bank of New York today released results from its February 2015, which provides information on consumers’ experiences with and expectations about credit demand and credit access.
No Guarantees, No Trade!
World trade fell 20 percent relative to world GDP in 2008 and 2009.
Introducing the SCE Credit Access Survey
Today, we are releasing new data on consumers’ experiences and expectations regarding credit demand.
Forecasting Inflation with Fundamentals . . . It’s Hard!
Jan Groen Controlling inflation is at the core of monetary policymaking, and central bankers would like to have access to reliable inflation forecasts to assess their progress in achieving this goal. Producing accurate inflation forecasts, however, turns out not to be a trivial exercise. This posts reviews the key challenges in inflation forecasting and discusses […]
Why Aren’t More Renters Becoming Homeowners?
Recent activity in the U.S. housing market has been widely perceived as disappointing.
Introducing the SCE Housing Survey
In February 2014, we administered a survey on housing-related issues to the Survey of Consumer Expectations (SCE) panelists.
High Unemployment and Disinflation in the Euro Area Periphery Countries
Thomas Klitgaard and Richard Peck
Economists often model inflation as dependent on inflation expectations and the level of economic slack, with changes in expectations or slack leading to changes in the inflation rate. The global slowdown and the subsequent sovereign debt crisis caused the greatest divergence in unemployment rates among euro area member countries since the monetary union was founded in 1999. The pronounced differences in economic performances of euro area countries since 2008 should have led to significant differences in price behavior. That turned out to be the case, with a strong correlation evident between disinflation and labor market deterioration in euro area countries
Crisis Chronicles: Canal Mania (1793)
Today, a leisurely trip down a canal on a quiet Sunday afternoon is a reminder of an unhurried time away from the hectic pace of modern commerce.
Just Released: The New York Fed Staff Forecast—May 2014
Today, the Federal Reserve Bank of New York (FRBNY) is hosting the spring meeting of its Economic Advisory Panel (EAP).
Crisis Chronicles: Not Worth a Continental—The Currency Crisis of 1779 and Today’s European Debt Crisis
During the late 1770s, a newly founded United States began to run up significant debts to finance the American Revolution.