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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 May 2, 2008, the Federal Reserve Bank of New York is sponsoring the spring 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 |
Globalization and Inflation Dynamics: The Impact of Increased CompetitionThis paper analyzes the potential effect of global market competition on inflation dynamics. By Argia M. Sbordone, Staff Reports 324, April 2008 |
Investment Shocks and Business CyclesThis paper confirms the SVAR evidence, but it does so from the perspective of a fully articulated dynamic stochastic general equilibrium (DSGE) model. By Alejandro Justiniano, Giorgio E. Primiceri, and Andrea Tambalotti , Staff Reports 322, March 2008 |
Monetary Policy Analysis with Potentially Misspecified ModelsThis paper develops and explores policy analysis approaches that are based on either the generalized shock structure for the DSGE model or the explicit modeling of deviations from cross-equation restrictions. By Marco Del Negro and Frank Schorfheide, Staff Reports 321, March 2008 |
Forming Priors for DSGE Models (and How It Affects
the Assessment of Nominal Rigidities)
This paper discusses prior elicitation for the parameters of dynamic stochastic general equilibrium (DSGE) models and provides a method for constructing prior distributions for a subset of these parameters from beliefs about the moments of the endogenous variables. By Marco Del Negro and Frank Schorfheide, Staff Reports 320, March 2008 |
Understanding the Securitization
of Subprime Mortgage CreditIn this paper, we provide an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. By Adam B. Ashcraft and Til Schuermann, Staff Reports 318, March 2008 |
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