23 posts on "new york fed"
March 3, 2017
Historical Echoes: That Pesky, Well‑Overdue Library Book
The “extremely overdue library book” has had a long run as a sitcom trope. As a source of humor, the ludicrously large library late fine pays off in at least two ways: first, there’s the enormity of the fine when compared with the insignificant monetary value of the book itself (paving the way for jokes about inflation and compound interest); and second, there’s the idea of the “criminality” of the offender, who is probably unlikely to commit any other kind of crime, with the concomitant image of “library police” (or actual police) coming after the negligent borrower . . . One day, that could be you, dear reader.
Posted at 7:00 am in Historical Echoes | Permalink
August 14, 2015
The Monetary Policy Advice Process at the New York Fed
Research economists discuss their process for providing advice on monetary policy to the New York Fed president ahead of FOMC meetings.
Posted at 10:00 am in Monetary Policy | Permalink
February 19, 2015
Looking at Student Loan Defaults through a Larger Window
An analysis of student loan borrower distress uncovers some new facts. First, cohort default rates appear to have been worsening over time, Second, defaults appear to be concentrated among the lowest-balance borrowers, who may not have completed their schooling, or may have earned credentials with lower payoffs than a four-year college degree. Finally, snapshots of delinquency and default rates miss the fact that many borrowers who are current today have had serious stress in the past.
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