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The Research Group of the Federal Reserve Bank of New York
Money and Payments Studies
2008-2009
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The Money and Payments Studies Function conducts research on the economics of short-term money markets and payments systems as well as on bank and consumer behavior. In addition to conducting scholarly research, staff members provide rigorous policy analysis on a wide range of issues and advise senior Bank officials on matters related to money markets, central bank liquidity provision, and the design and operation of payments and settlement systems.
 
Recent projects include:
  • providing guidance on the design and evaluation of the Federal Reserve’s new lending facilities, including the Term Auction Facility,
  • analyzing bank behavior in the federal funds and Eurodollar markets, both under normal conditions and during periods of market stress, and
  • evaluating proposals for paying interest on bank reserves.
Research themes include:
  • the effects of new Federal Reserve policies relating to the provision of daylight credit
    and the cash services made available to banks,
  • the topology of large-value payments flows across banks,
  • crises of confidence and coordination failures in financial markets, and
  • operational events and the risk of fraud in new and emerging payments systems.

To learn more about joining the Research Group: www.newyorkfed.org/careers/phd.html.

By conviction and action, the Federal Reserve Bank of New York is an equal opportunity employer.