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.
Fields of interest Game theory, Auctions, Network Theory
Rod Garratt is a theorist who specializes in applied game theory. He is known for his work on strategic incentives in payment systems. He has also published theoretical and experimental work related to auctions and helped develop a growing literature on the role of speculators in auctions with resale. He pioneered the use of information-theoretic clustering techniques to describe behavior and identify risks in complex financial networks. Garratt received his PhD from Cornell University before spending over 20 years as a faculty member in the Department of Economics at the University of California, Santa Barbara. He has published in the top economics journals including Econometrica, the American Economic Review and the Journal of Political Economy. He has held visiting positions at UCLA, the University of Arizona and the Bank of England.