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.
A special housing survey, administered to panelists for the New York Fed’s Survey of Consumer Expectations in February 2014, sheds light on current perceptions and expectations regarding the growth in home prices and on consumers’ intentions to move or invest in a new home.
By Basit Zafar, Andreas Fuster, Wilbert van der Klaauw, and Matthew Cocci
The authors provide a review of the transmission channels of monetary policy, focusing not just on financial conditions, but also on financial stability consequences by way of financial vulnerabilities.
By Tobias Adrian and Nellie Liang, Staff Reports 690, September 2014
The authors examine how nonemployed workers’ job search effort varies over the business cycle and consider its implications for individual and aggregate labor market outcomes. To this end, they construct a measure of search effort by combining information from the American Time Use Survey and the Current Population Survey.
By Toshihiko Mukoyama, Christina Patterson, and Ayşegül Şahin, Staff Reports 689, August 2014
The authors develop a measure of financial instability designed to give regulators and policymakers advance warning of financial crises and apply it to an investigation of the 1998 collapse of Long-Term Capital Management.
By Alexander Tepper and Karol Jan Borowiecki, Staff Reports 688, August 2014