Just Released: Great Recession’s Impact Lingers in Hardest‑Hit Regions
The New York Fed’s Center for Microeconomic Data today released our Quarterly Report on Household Debt and Credit for the fourth quarter of 2017. Along with this report, we have posted an update of state-level data on balances and delinquencies for 2017. Overall aggregate debt balances increased again, with growth in all types of balances except for home equity lines of credit. In our post on the first quarter of 2017 we reported that overall balances had surpassed their peak set in the third quarter of 2008—the result of a slow but steady climb from several years of sharp deleveraging during the Great Recession.
What about Spending on Consumer Goods?
In a recent Liberty Street Economics post, I showed that one major category of consumer spending—spending on discretionary services such as recreation, transportation, and household utilities—behaved very differently in the 2007-09 recession and subsequent recovery than in previous business cycles: specifically, it fell more steeply and has recovered much more slowly.
Discretionary Services Spending Has Finally Made It Back (to 2007)
Household Borrowing in Historical Perspective
Which Dealers Borrowed from the Fed’s Lender‑of‑Last‑Resort Facilities?
Developing a Narrative: The Great Recession and Its Aftermath
The severe recession experienced by the U.S. economy between December 2007 and June 2009 has given way to a disappointing recovery.
Why Didn’t Inflation Collapse in the Great Recession?
GDP contracted 4 percent from 2008:Q2 to 2009:Q2, and the unemployment rate peaked at 10 percent in October 2010.
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 […]
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.
Just Released: Mapping Changes in School Finances
This morning, the New York Fed released a set of interactive maps and charts illuminating school finances in New York and New Jersey.