Mary Amiti, Tyler Bodine-Smith, Michele Cavallo, and Logan T. Lewis The decline in U.S. GDP of 0.2 percent in the first quarter of 2015 was much larger than market analysts expected, with net exports subtracting a staggering 1.9 percentage points (seasonally adjusted annualized rate). A range of factors is being discussed in policy circles to […]
July 2, 2015
July 1, 2015
What Do Bond Markets Think about “Too‑Big‑to‑Fail” Since Dodd‑Frank?
As we discussed in our post on Monday, the Dodd-Frank Act includes provisions to address whether banks remain “too big to fail.”
June 29, 2015
June 26, 2015
From the Vault: Gauging Treasury Market Liquidity
A review of recent work on Liberty Street Economics examining liquidity in the U.S. Treasury market
June 24, 2015
Falling Oil Prices and Global Saving
The rise in oil prices from near $30 per barrel in 2000 to around $110 per barrel in mid-2014 was a dramatic reallocation of global income to oil producers.
Posted at 7:00 am in Balance of Payments, Euro Area, Exports, Financial Markets, International Economics | Permalink | Comments (1)
June 22, 2015
Just Released: U.S. Economy in a Snapshot
The Research Group at the New York Fed would like to announce the publication of US Economy in a Snapshot[RR1] .
Posted at 10:00 am in Macroeconomics | Permalink
Becoming a Large Bank? It’s Not Easy
Rajlakshmi De and Hamid Mehran Size is usually seen as the leading indication of the costs that a bank failure would impose on society. As a result, the Dodd-Frank Act of 2010 requires banks to have adequate capital and liquidity to mitigate default risk and imposes additional requirements on larger banks to enhance their safety. […]
June 8, 2015
The Myth of First‑Quarter Residual Seasonality
The current policy debate is influenced by the possibility that the first-quarter GDP data were affected by “residual seasonality.”
Is Cheaper Oil Good News or Bad News for U.S. Economy?
Oil prices have declined substantially since the summer of 2014.
Posted at 7:00 am in Exports, Financial Markets, International Economics, Macroeconomics | Permalink | Comments (2)
June 5, 2015
Crisis Chronicles: Railway Mania, the Hungry Forties, and the Commercial Crisis of 1847
Money was plentiful in the United Kingdom in 1842, and with low yields on government bonds and railway shares paying handsome dividends, the desire to speculate spread—as one observer put it, “the contagion passed to all, and from the clerk to the capitalist the fever reigned uncontrollable and uncontrolled” (Francis’s History of the Bank of England).
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