Two key monetary aggregates, M1 and M2, have grown quickly recently—especially M1, the narrow aggregate.
May 23, 2012
May 21, 2012
What Falling Export Share Says about U.S. Export Competitiveness
The U.S. market share of world merchandise exports has declined sharply over the past decade.
Just Released: The Euro‑zone Growth Outlook – Calm Before the Storm?
The European Central Bank (ECB) released the results of its 2012:Q2 Survey of Professional Forecasters (SPF) on May 3.
May 18, 2012
Historical Echoes: Our Checking Accounts, Ourselves – Or, Say Good Night, Gracie’s Checking Account
An extensive 2009 exhibit, “Women Making Financial History,” chronicles the history of the relationship of women to finance.
Posted at 7:00 am in Historical Echoes | Permalink
May 16, 2012
The Private Premium in Public Bonds?
In a 2012 New York Fed study, Chenyang Wei and I find that interest rate spreads on publicly traded bonds issued by companies with privately traded equity are about 31 basis points higher on average than spreads on bonds issued by companies with publicly traded equity, even after controlling for risk and other factors.
May 14, 2012
The Great Moderation, Forecast Uncertainty, and the Great Recession
The Great Recession of 2007-09 was a dramatic macroeconomic event, marked by a severe contraction in economic activity and a significant fall in inflation.
May 11, 2012
Just Released: The New York Fed Staff Forecast—May 2012
We are presenting the New York Fed staff outlook for the U.S. economy to the New York Fed’s Economic Advisory Panel (EAP) at their meeting here today.
Posted at 10:30 am in Forecasting, Inflation, Macroeconomics, Monetary Policy, Unemployment | Permalink
May 9, 2012
A Boost in Your Paycheck: How Are U.S. Workers Using the Payroll Tax Cut?
Over the past several months, there was a flurry of debate in Washington over the extension of the payroll tax cut.
May 7, 2012
The Flash Crash, Two Years On
On May 6, 2010, several U.S.-based equity products underwent an extraordinary price decline and recovery, all within less than half an hour.
Posted at 7:00 am in Financial Markets | Permalink
May 4, 2012
Historical Echoes: Pneumatic Tubes and Banking
Pneumatic tubes—a system in which cylinder-shaped containers (that could contain messages, money, small objects, and even food) are propelled through a network of tubes via compressed air or partial vacuum—are a relatively old technology.
Posted at 7:00 am in Historical Echoes | Permalink
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