The relative merits of algorithmic and high-frequency trading are most often discussed in the context of equity markets.
Look for our next post on March 20.
March 10, 2014
Just Released: Beyond the Unemployment Rate: Eight Different Faces of the Labor Market
This morning, the New York Fed released a new set of charts measuring various dimensions of the labor market.
March 7, 2014
Crisis Chronicles: The Credit and Commercial Crisis of 1772
During the decade prior to 1772, Britain made the most of an expansion in colonial lands that required significant capital investment across the East and West Indies and North America.
March 5, 2014
Just Released: Harsh Winter Weather Hampers Economic Activity in the Region
The New York Fed’s latest Beige Book report indicates that harsh winter weather hampered economic activity in the region in early 2014.
Posted at 2:05 pm in Regional Analysis | Permalink
Risk Aversion, Global Asset Prices, and Fed Tightening Signals
The global sell-off last May of emerging market equities and currencies of countries with high interest rates (“carry-trade” currencies) has been attributed to changes in the outlook for U.S. monetary policy, since the sell-off took place immediately following Chairman Bernanke’s May 22 comments concerning the future of the Fed’s asset purchase programs.
Posted at 7:00 am in Euro Area, Exchange Rates, Fed Funds, Financial Markets, International Economics, Monetary Policy | Permalink | Comments (2)
March 3, 2014
How Unconventional Are Large‑Scale Asset Purchases?
The large-scale asset purchases (LSAPs) undertaken by the Fed starting in late November 2008 are widely considered to be a form of “unconventional” monetary policy.
February 28, 2014
Historical Echoes: Open a Kiddie Book and Read about Economic Principles, or Read it and Sleep
Would it ever occur to anyone that Charlie and the Chocolate Factory(Roald Dahl, 1964) teaches economic lessons about “incentives, poverty, scarcity, producers, consumers, and competition”?
February 26, 2014
Factors that Affect Bank Stability
Thomas M. Eisenbach and Tanju Yorulmazer In a previous Liberty Street Economics post, we introduced a framework for thinking about the risks banks face. In particular, we distinguished between asset return risk and funding risk that can interact and cause a bank to fail. In our framework, a bank can fail for two reasons:
February 24, 2014
What Makes a Bank Stable? A Framework for Analysis
Thomas M. Eisenbach and Tanju Yorulmazer One of the major roles of banks and other financial intermediaries is to channel funds from savings into valuable projects. In doing so, banks engage in “liquidity and maturity transformation,” since they finance long-term, illiquid projects while funding themselves with short-term, liquid liabilities. By performing this important role, banks […]
February 21, 2014
Historical Echoes: Thomas Jefferson Slept Here on Maiden Lane/The Compromise of 1790
Mary Tao In a prior blog post, we saw how Maiden Lane evolved over time. It was here that a momentous event occurred in 1790, changing the history of the United States. While serving as Secretary of State in 1790, Thomas Jefferson rented a “mean house” at 57 Maiden Lane “for 106 pounds per […]
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