As we noted in our last post on the British crisis of 1816, while Britain emerged from nearly a quarter century of war with France ready to supply the world with manufactured goods, it needed cotton to supply the mills, and all of Europe needed wheat to supplement a series of poor harvests.
Look for our next post on May 12.
December 5, 2014
December 3, 2014
Why Do Banks Keep All That “Fracking” Money?
In a recent post, I discussed the significant impact that “fracking” and other unconventional energy development has had on bank deposits.
December 1, 2014
What Do Banks Do with All That “Fracking” Money?
Banks play a crucial role in the economy by channeling funds from savers to borrowers.
November 25, 2014
Just Released: Household Debt Balances Increase as Deleveraging Period Concludes
Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw The New York Fed released the Quarterly Report on Household Debt and Credit for the third quarter of 2014 today. Balances continued to rise slightly, with an overall increase of $78 billion. The aggregate household debt balance now stands at $11.71 trillion, up […]
November 24, 2014
Bitcoin: How Likely Is a 51 Percent Attack?
Rod Garratt and Rosa Hayes In June 2014, the mining pool Ghash.IO briefly controlled more than half of all mining power in the Bitcoin network, awakening fears that it might attempt to manipulate the blockchain, the public record of all Bitcoin transactions. Alarming headlines splattered the blogosphere. But should members of the Bitcoin community be […]
November 21, 2014
Historical Echoes: Postage Stamps Portray Stories of American Banking History
Prior to 1876, there was fierce competition among engraving firms and private bank note companies for contracts to print U.S. Treasury bank notes.
November 20, 2014
Introducing the SCE Credit Access Survey
Today, we are releasing new data on consumers’ experiences and expectations regarding credit demand.
November 19, 2014
The Long‑Term Unemployed and the Wages of New Hires
This is the third in a series of blog posts on the topic of measuring labor market slack. In this post, we assess the relationships between short- and long-term unemployment and wages by comparing the differences in states’ experiences over the business cycle.
November 18, 2014
How Attached to the Labor Market Are the Long‑Term Unemployed?
In this second post in our series, we analyze the labor market outcomes of long-term unemployed workers to assess their employability and labor force attachment.
November 17, 2014
Measuring Labor Market Slack: Are the Long‑Term Unemployed Different?
There has been some debate in the Liberty Street Economics blog and in other outlets, such as Krueger, Cramer, and Cho (2014) and Gordon (2013), about whether the short-term unemployment rate is a better measure of slack than the overall unemployment rate.
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