The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
At this workshop, jointly organized by the Centre for Economic Policy Research, the European Commission, and the Federal Reserve Bank of New York, participants discussed the reasons that macroeconomic policy approaches have differed on the two sides of the Atlantic in recent years.
By Moreno Bertoldi, Philip R. Lane, Paolo Pesenti, and Valérie Rouxel-Laxton
The bloggers explain the role of cash investors in the tri-repo settlement process and highlight how their current practice of sending principal payments late in the day disrupts the timely settlement of tri-party repo contracts.
The current volatility environment appears quite similar to the one in May 2013, but it’s substantially different from the one preceding the financial crisis in 2007. The bloggers examine factors contributing to the recent low levels of market volatility.
By Fernando Duarte, Juan Navarro-Staicos, and Carlo Rosa
Students in recent years have been paying more to attend college and earning less upon graduation—trends that have raised questions about whether a college education remains a good investment. But research from economists Jaison Abel and Richard Deitz finds that the benefits of college still tend to outweigh the costs.
The authors provide a novel methodology for estimating time-varying weights in linear prediction pools and use it to investigate the relative forecasting performance of DSGE models with and without financial frictions for output growth and inflation from 1992 to 2011.
By Marco Del Negro, Raiden B. Hasegawa, and Frank Schorfheide, Staff Reports 695, October 2014
Plosser empirically investigates how positive funding shocks—arising from innovations in drilling technology that have resulted in the development of several new oil and gas fields throughout the United States—translate into investments by banks.
By Matthew C. Plosser, Staff Reports 693, October 2014