U.S. banks experienced a rapid rise in loan delinquencies and defaults during the 2007-09 recession, driven by rising unemployment and falling real estate prices, among other factors.
October 16, 2013
October 11, 2013
Historical Echoes: Throwing Coins into a Fountain—Who Is Getting Paid?
Amy Farber Do you throw coins into a fountain when you see that others have done so? A comprehensive and thoughtful student project on wishing well use in Southern California has been posted on the internet by University of California, Irvine, anthropology professor Bill Maurer. The 2006 project bases its findings on interviews of people […]
October 9, 2013
Twenty‑Eight Money Market Funds That Could Have Broken the Buck: New Data on Losses during the 2008 Crisis
Marco Cipriani, Michael Holscher, Antoine Martin, and Patrick E. McCabe During the financial crisis in 2008, just one money market fund (MMF) “broke the buck”—that is, its share price dropped below one dollar. The Reserve Primary Fund announced on September 16 that the value of its shares had dropped to 97 cents. As we discussed in […]
October 7, 2013
What’s News?
Linda S. Goldberg Economic news moves markets. Most analyses find that economic news is incorporated quickly (within minutes) into asset prices, with some measurable persistence of these effects, and with some spillovers across national borders. Some types of announcements—for example, U.S. nonfarm payrolls announcements—generate much larger asset price responses than others. Generally, news that is […]
October 4, 2013
Historical Echoes: A Central Bank by Any Other Name Is Still . . .
Amy Farber Perhaps you enjoy being read to out loud. Perhaps you enjoy being read to on subjects related to central banking. Perhaps you would enjoy being read the Wikipedia entries for central banks around the world. If so, and your reader was to read the following beginning sentences for central bank entries, you would […]
October 2, 2013
Capital Flight inside the Euro Area: Cooling Off a Fire Sale
Matthew Higgins and Thomas Klitgaard Countries in the euro area periphery such as Greece, Italy, Portugal, and Spain saw large-scale capital flight in 2011 and the first half of 2012. While events unfolded much like a balance of payments crisis, the contraction in domestic credit was less severe than would ordinarily be caused by capital […]
September 30, 2013
September 27, 2013
Historical Echoes: The Changing Face of Education in the United States
Rajashri Chakrabarti, Amy Farber, and Max Livingston In two recent posts on New York and New Jersey and a series of interactive graphics, we explored the effect of the Great Recession on school district finances. But if we expand our scope a little wider, we see that school finances have been changing significantly over the […]
Posted at 7:00 am in Historical Echoes | Permalink
September 25, 2013
Catching Up or Falling Behind? New Jersey Schools in the Aftermath of the Great Recession
Rajashri Chakrabarti and Max Livingston Today’s post, which complements Monday’s on New York State and a set of interactive graphics released by the New York Fed earlier, assesses the effect of the Great Recession on educational finances in New Jersey. The Great Recession severely restricted state and local funds, which are the main sources of […]
September 23, 2013
Waiting for Recovery: New York Schools and the Aftermath of the Great Recession
A key institution that was significantly affected by the Great Recession is the school system, which plays a crucial role in building human capital and shaping the country’s economic future.
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