Current account deficits in euro area periphery countries have now largely disappeared.
May 22, 2013
Foreign Borrowing in the Euro Area Periphery: The End Is Near
Posted at 7:00 am in Balance of Payments, Euro Area, Exchange Rates, Exports, International Economics | Permalink | Comments (1)
May 20, 2013
Do Big Cities Help College Graduates Find Better Jobs?
Although the unemployment rate of workers with a college degree has remained well below average since the Great Recession, there is growing concern that college graduates are increasingly underemployed—that is, working in a job that does not require a college degree or the skills acquired through their chosen field of study.
Posted at 7:00 am in Education, Equitable Growth, Labor Market, Regional Analysis | Permalink | Comments (3)
May 17, 2013
Historical Echoes: The “Mississippi Bubble” – When One’s Back Could Be Rented Out as a Writing Desk
In 1720, the very same year that England was experiencing the “South Sea Bubble” (see our post), France was experiencing a bubble as well—the “Mississippi Bubble.”
May 15, 2013
My Two (Per)cents: How Are American Workers Dealing with the Payroll Tax Hike?
The payroll tax cut, which was in place during all of 2011 and 2012, reduced Social Security and Medicare taxes withheld from workers’ paychecks by 2 percent.
May 14, 2013
Just Released: The Geography of Student Debt
This morning, the New York Fed released its Quarterly Report on Household Debt and Credit for 2013 Q1.
Posted at 11:15 am in Household Finance, Regional Analysis, Student Loans | Permalink | Comments (3)
May 13, 2013
Capital Controls, Currency Wars, and International Cooperation
The debate over whether there’s a case for limiting capital flows has intensified recently—both in media and academic forums.
May 10, 2013
Historical Echoes: What Do the New York Fed and Grand Central Terminal Have in Common?
These two fine old entities—the New York Fed and Grand Central Terminal—have at least three things in common: they are both about 100 years old, they both feature beautiful vaulting in some part of their structure by the same “designer” masons, and they both go very deep into the ground.
Posted at 7:00 am in Historical Echoes | Permalink
May 8, 2013
Are Stocks Cheap? A Review of the Evidence
We surveyed banks, we combed the academic literature, we asked economists at central banks.
May 6, 2013
Uncertainty, Liquidity Hoarding, and Financial Crises
One of the most interesting phenomena marking the recent financial crisis were the disruptions in the interbank market, where banks borrow and lend reserves to each other.
April 22, 2013
Japanese Inflation Expectations, Revisited
An important measure of success for monetary policy is a central bank’s ability to anchor inflation expectations; inflation expectations influence actual inflation and, hence, the achievement of a given inflation goal.
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