The New York Fed’s latest Beige Book report indicates that harsh winter weather hampered economic activity in the region in early 2014.
March 5, 2014
Just Released: Harsh Winter Weather Hampers Economic Activity in the Region
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 […]
February 20, 2014
Just Released: The Inflation Outlook in the Euro Zone . . . Survey Says
The European Central Bank (ECB) released its 2014:Q1 Survey of Professional Forecasters (SPF) on February 13.
Posted at 7:00 am in Euro Area, Forecasting, Inflation, International Economics, Macroeconomics | Permalink
February 19, 2014
Why Is the Job‑Finding Rate Still Low?
Fluctuations in unemployment are mostly driven by fluctuations in the job-finding prospects of unemployed workers—except at the onset of recessions, according to various research papers (see, for example, Shimer [2005, 2012] and Elsby, Hobijn, and Sahin [2010]).
February 18, 2014
Just Released: Does Transportation Spending Make Good Stimulus?
On January 14, the Transportation Research Board, an arm of the National Research Council, released a new report, Transportation Investments in Response to Economic Downturns.
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