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| National Economy |
| Our economists research and analyze monetary policy, the business cycle, growth, the labor market and other domestic economic issues. |
| Features |
| New York Area Workshop on Monetary Policy On November 7, 2008, the Federal Reserve Bank of New York will sponsor the fall 2008 meeting of the Monetary Policy Workshop. |
| Current Economic Indicators |
| Economic
Growth and Output Business finance, personal finance, production, demand, income, consumption and savings data |
| Employment Employment rates, unemployment rates, hours worked and payroll changes |
| Money
Growth Money growth rates in monetary aggregates, M1, M2 and M3 |
| Inflation
Commodity prices, Price Producer Index (PPI), Consumer Price Indices (CPI), Personal Consumption Expenditures (PCE) and wages |
| Recent Articles |
Interpreting the Great Moderation: Changes in the Volatility of Economic Activity at the Macro and Micro LevelsThe authors review evidence on the Great Moderation together with evidence about volatility trends at the micro level to develop a potential explanation for the decline in aggregate volatility since the 1980s and its consequences. By Steven J. Davis and James A. Kahn, Staff Reports 334, July 2008 |
Banking Globalization, Monetary Transmission, and the Lending ChannelThe authors show that the large banks that operate globally rely on internal capital markets with their foreign affiliates to help smooth domestic liquidity shocks. By Nicola Cetorelli and Linda S. Goldberg, Staff Reports 333 July 2008 |
Human Capital and Economic Activity in Urban AmericaThis paper examines the relationship between human capital and economic activity in U.S. metropolitan areas, extending the existing literature in two important ways. By Jaison R. Abel and Todd M. Gabe, Staff Reports 332, July 2008 |
Durable Goods Inventories and the Great ModerationThis paper revisits the hypothesis that changes in inventory management were an important contributor to volatility reductions during the Great Moderation. By James A Kahn, Staff Reports 325, May 2008 |
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