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NY Fed Research Profile
NY Fed Research

@NYFedResearch

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News from the New York Fed's Research and Statistics Group.

Federal Reserve Bank of NY
Joined September 2011
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@NYFedResearch
NY Fed Research
1 year
Estimating HANK for Central Banks By Sushant Acharya, William Chen, Marco Del Negro, Keshav Dogra, Aidan Gleich, Shlok Goyal, Ethan Matlin, Donggyu Lee, Reca Sarfati, and Sikata Sengupta >>> #AMEC
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@NYFedResearch
NY Fed Research
2 years
In Staff Reports: The Dollar’s Imperial Circle By Ozge Akinci, Gianluca Benigno, Serra Pelin, and Jon Turek >>>
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@NYFedResearch
NY Fed Research
2 years
Our #AMEC economists share the latest forecasts for GDP growth, core PCE inflation, and the real natural rate of interest generated by the New York Fed's DSGE model.
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@NYFedResearch
NY Fed Research
1 year
We updated estimates of the natural rate of interest (r-star), trend growth, and the output gap for the United States, Canada, and the Euro Area through 2023:Q2 using the Holston-Laubach-Williams (“HLW”) model. #AMEC Charts and replication code: >>
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@NYFedResearch
NY Fed Research
2 years
. @Columbia and the New York Fed ( #AMEC ) are jointly hosting a conference in honor of Guillermo Calvo—with sessions at both institutions. Feb 22-24 Program and registration:
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@NYFedResearch
NY Fed Research
2 years
JOIN US VIRTUALLY on May 13 ---- Climate Change: Implications for Macroeconomics --- Open to the public and the media. RSVP for the livestream link. Agenda: #AMEC #AMECSymposium #EconTwitter #climatechange
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@NYFedResearch
NY Fed Research
7 months
Monetary Policy across Inflation Regimes By Valeria Gargiulo, Christian Matthes, and Katerina Petrova >>> #AMEC
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@NYFedResearch
NY Fed Research
3 years
We’re excited to launch AMEC, a research center devoted to advancing the fields of macroeconomics and applied econometrics. Check out our hub to learn more about the affiliated economists, their research interests, tools and models, and events. #AMECenter
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@NYFedResearch
NY Fed Research
3 months
Richard Crump ( @nyfedresearch ) and coauthors introduce a suite of formal and visual tools based on #binscatter plots to restore, and in some dimensions surpass, the classical scatter plot. + Python, R, and Stata code
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@NYFedResearch
NY Fed Research
2 years
Panel discussion on fast #payments and cross-border payments considered the significant innovation that is possible without #blockchain technology. Ross Leckow ( @BIS_org ), David Ornstein ( @batonsystems ), Scott Shay (Signature Bank), and Ryan Zagone ( @Wise ) comprised the panel.
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@NYFedResearch
NY Fed Research
4 years
Ozge Akinci and Marco Del Negro have accepted research appointments at @CEPR_org ; Akinci will be a research affiliate in the international macroeconomics and finance program and Del Negro will be a research fellow in the monetary economics and fluctuations program.
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@NYFedResearch
NY Fed Research
2 years
Ivan Werning ( @MITEcon ) has joined the list of presenters at #AMEC ’s upcoming symposium on “Climate Change: Implication for Macroeconomics” (May 13). RSVP to join the livestream of the virtual event, which is open to the public and media.
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@NYFedResearch
NY Fed Research
5 months
Micro Responses to Macro Shocks By Martín Almuzara and Víctor Sancibrián >>> #AMEC
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@NYFedResearch
NY Fed Research
5 months
The Global Credit Cycle By Nina Boyarchenko and Leonardo Elias >>>
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@NYFedResearch
NY Fed Research
5 years
The New York Fed Staff Nowcast is out: Q2 2019 → 1.0% Q3 2019 → 1.3%
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@NYFedResearch
NY Fed Research
3 years
Short- and medium-term inflation expectations rose to new series highs of 5.2 percent and 4.0 percent, respectively, according to the August Survey of Consumer Expectations.
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@NYFedResearch
NY Fed Research
5 months
International Banking and Nonbank Financial Intermediation: Global Liquidity, Regulation, and Implications By Claudia M. Buch and Linda S. Goldberg >>>
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@NYFedResearch
NY Fed Research
3 months
Tracing Bank Runs in Real Time By Marco Cipriani, Thomas M. Eisenbach, and Anna Kovner >>>
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@NYFedResearch
NY Fed Research
4 years
Each year, the New York Fed hires exceptional college graduates for our two-year research analyst program. Applications for positions with a summer 2021 start date are open. Learn more here:
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@NYFedResearch
NY Fed Research
2 years
The Bitcoin-Macro Disconnect By Gianluca Benigno and Carlo Rosa >>>
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@NYFedResearch
NY Fed Research
4 years
Using evidence from the 1918 flu, Correia, Luck, and Verner find that measures such as social distancing reduce the mortality and severity of a pandemic, and also benefit the economic recovery.
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@NYFedResearch
NY Fed Research
6 months
Are you an Economics or Finance PhD student? Apply for our 2024 paid summer internship program. In this role, you can further your dissertation research, interact with New York Fed economists, and obtain feedback on your work. Details here:
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@NYFedResearch
NY Fed Research
2 years
In opening remarks, Fed Vice Chair Lael Brainard described how many central banks around the world “have pivoted monetary policy strongly” to stall inflation, with adjustment happening quickly in some sectors and lagging in others. Full remarks:
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@NYFedResearch
NY Fed Research
9 years
Liquidity in the credit default swap market has deteriorated. #nyfedsnap
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@NYFedResearch
NY Fed Research
2 years
At the Global Research Forum on International Macroeconomics and Finance today, Oleg Itskhoki ( @UCLA ) shared a framework for thinking about how sanctions and asset freezes affect exchange rate dynamics. Agenda:
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@NYFedResearch
NY Fed Research
7 months
The New York Fed DSGE Model: A Post-Covid Assessment By Marco Del Negro, Keshav Dogra, Aidan Gleich, Pranay Gundam, Donggyu Lee, Ramya Nallamotu, and Brian Pacula >>> #AMEC
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@NYFedResearch
NY Fed Research
2 years
Banks' Balance-Sheet Costs, Monetary Policy, and the ON RRP By Gara Afonso, Marco Cipriani, and Gabriele La Spada >>>
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@NYFedResearch
NY Fed Research
1 year
Today marks the resumption of regular releases of the New York Fed Staff Nowcast. We discuss the model’s new features, estimates of current quarter GDP growth, and performance during the pandemic period on @LibertyStEcon :
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@NYFedResearch
NY Fed Research
2 years
SURVEY OF CONSUMER EXPECTATIONS Median one- and three-year-ahead inflation expectations both declined sharply in July, to 6.2% and 3.2% from 6.8% and 3.6% in June, respectively.
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@NYFedResearch
NY Fed Research
2 years
Median one- and three-year-ahead inflation expectations continued their steep declines: the one-year measure fell to 5.7% in August from 6.2% in July, while the three-year measure fell to 2.8% from 3.2%. Expectations also fell at the five-year horizon.
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@NYFedResearch
NY Fed Research
4 years
New staff study: Akinci, Benigno, Del Negro, and Queralto introduce the concept of the financial stability real interest rate, r**.
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@NYFedResearch
NY Fed Research
4 years
Share of permanent job losers continues to rise.
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@NYFedResearch
NY Fed Research
2 years
How Abundant Are Reserves? Evidence from the Wholesale Payment System By Gara Afonso, Darrell Duffie, Lorenzo Rigon, and Hyun Song Shin >>>
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@NYFedResearch
NY Fed Research
2 years
The four sessions will shed light on how economists and policymakers are thinking about #climatechange . @DrDaronAcemoglu , @TDeryugina , @UncertainLars , Solomon Hsiang, @piazzesi , @HansbergRossi , @jimstockmetrics , and @IvanWerning are lined up to speak.
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@NYFedResearch
NY Fed Research
2 years
Regular publication of the Corporate Bond Market Distress Index starts today. Find charts, brief commentary, and data for download on the New York Fed’s website. CMDI: Blog analysis: #CMDI
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@NYFedResearch
NY Fed Research
6 years
We're now sharing estimates of the natural rate of interest, or r-star, for the United States and other advanced economies. Download data through 2018:Q2 here:
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@NYFedResearch
NY Fed Research
4 years
The coronavirus shock looks more like a natural disaster than a cyclical downturn in terms of jobless claims data, our @LibertyStEcon authors argue.
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@NYFedResearch
NY Fed Research
2 years
QUARTERLY REPORT ON HOUSEHOLD DEBT AND CREDIT Our 2022:Q2 Household Debt and Credit Report has just been released. Interactive Charts: PDF:
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@NYFedResearch
NY Fed Research
2 years
Global #supplychain pressures declined in June, according to the latest estimates of our Global Supply Chain Pressure Index. See commentary and data on our #AMEC hub:
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@NYFedResearch
NY Fed Research
2 years
Many thanks to the speakers and organizers who made today’s #AMEC event possible. @hafrouzi , @XJaravel , @HannoLustig , @jensqu4r3d , @umalmend , Stephanie Schmitt-Grohé, @AngelUbide , @marcodelnegro , Keshav Dogra, Nina Boyarchenko, and Argia Sbordone.
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@NYFedResearch
NY Fed Research
2 years
The average lowest wage respondents would be willing to accept for a new job (their “reservation wage”) rose to $72,873 in July from $68,954 a year ago. The increase was most pronounced for respondents under age 45, college graduates, and men.
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@NYFedResearch
NY Fed Research
2 years
The average perceived probability of missing a minimum debt payment over the next three months increased by 1.4 percentage points to 12.2% in August, its highest reading since May 2020. This increase was broad based across demographic groups.
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@NYFedResearch
NY Fed Research
4 years
New @LibertyStEcon post discusses the severe liquidity strains that arose in the repo market related to the coronavirus pandemic and the Fed's actions aimed at reducing market pressures.
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@NYFedResearch
NY Fed Research
2 years
The August Empire State Manufacturing Survey indicates that manufacturing activity fell sharply in New York State. The headline general business conditions index plunged 42 points to -31.3. Web: PDF:
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@NYFedResearch
NY Fed Research
2 years
Our #AMEC economists share the latest forecasts for GDP growth, core PCE inflation, and the real natural rate of interest generated by the New York Fed's DSGE model. Liberty Street Economics >>> AMEC >>>
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@NYFedResearch
NY Fed Research
2 years
New #DSGE analysis helps distinguish the drivers of #inflation and attributes much of the recent inflation surge to a large (and persistent) cost-push shock in 2021:Q2. #AMEC ➡️
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@NYFedResearch
NY Fed Research
2 years
Our special issue leads with an examination of dysfunction in the corporate bond market at the onset of the pandemic and the impact of credit facilities established to help restore market functioning.​ #EPR This article: Full issue:
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@NYFedResearch
NY Fed Research
2 years
Global supply chain pressures decreased in August, continuing the easing observed over the past three months. #GSCPI #AMEC #supplychain Chart and data for download>>
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@NYFedResearch
NY Fed Research
4 years
New post shares the latest economic forecasts generated by the New York Fed’s DSGE model, considering three #COVID19 scenarios: a “Temporary Lockdown,” a “Lockdown with Business Cycle Dynamics,” and a “Second Wave.” Link through to new interactive charts.
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@NYFedResearch
NY Fed Research
2 years
Results of the November Survey of Consumer Expectations show that inflation expectations decreased in the short, medium, and longer terms to 5.2 percent, 3.0 percent, and 2.3 percent, respectively.
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@NYFedResearch
NY Fed Research
4 years
When the economy hits sudden headwinds, like the COVID-19 pandemic, conditions can evolve rapidly. A new metric—the Weekly Economic Index—measures real economic activity in real time.
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@NYFedResearch
NY Fed Research
2 years
Mark your calendars Conference on "The Credibility of Government Policies" honoring Guillermo Calvo—with sessions at the New York Fed and Columbia University. Feb 22-24 Program and registration: #AMEC
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@NYFedResearch
NY Fed Research
3 years
Path forward should include automatic stabilizers like stimulus checks, tied to economic conditions, Sahm suggests.
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@NYFedResearch
NY Fed Research
2 years
SURVEY OF CONSUMER EXPECTATIONS Inflation expectations increased in the short, medium, and longer terms, according to the October survey.
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@NYFedResearch
NY Fed Research
3 years
New York Fed President John Williams shares remarks at today’s #AMECSymposium on “Heterogeneity in Macroeconomics: Implications for Policy.”
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@NYFedResearch
NY Fed Research
2 years
. @UncertainLars noted the challenge of weighting “best guesses” and “potentially bad outcomes” when designing policy to address #climatechange . #AMEC
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@NYFedResearch
NY Fed Research
2 years
New #AMEC analysis presents the forecast generated by the New York Fed’s DSGE model for September. The outlook compared to June is slightly more pessimistic in terms of inflation, and broadly unchanged in terms of real activity. Liberty Street Economics:
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@NYFedResearch
NY Fed Research
1 year
R-STAR | HLW ESTIMATION We updated estimates of the natural rate of interest (r-star), trend growth, and the output gap for the United States, Canada, and the Euro Area through 2023:Q1 using the Holston-Laubach-Williams (“HLW”) model. #AMEC >>
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@NYFedResearch
NY Fed Research
2 years
U.S. HOME PRICE CHANGES We’ve posted new data on year-over-year on home price changes through June 2022. Hover over a county for granular data. ➡️ #housingmarket
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@NYFedResearch
NY Fed Research
2 years
Our #AMEC economists turn again to a DSGE model to understand what different monetary policy approaches can achieve against a backdrop of a flat Phillips curve. #InflationTargeting
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@NYFedResearch
NY Fed Research
5 years
Student loans overtake mortgages as the largest component of severely derogatory balances.
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@NYFedResearch
NY Fed Research
5 years
New York Fed research economist Linda Goldberg and Bundesbank VP Claudia Buch set the stage for the conference, spelling out important themes and directions of #IBRN work.
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@NYFedResearch
NY Fed Research
2 years
We track the year-over-year change in home prices across 1,200 U.S. counties and the United States as a whole. With this month’s update, data range from January 2003 to September 2022. #housingmarket #homeprices
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@NYFedResearch
NY Fed Research
2 years
In Staff Reports⬇️ Macroeconomic Drivers and the Pricing of Uncertainty, Inflation, and Bonds By Brandyn Bok, Thomas M. Mertens, and John C. Williams #AMEC
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@NYFedResearch
NY Fed Research
2 years
Global supply chain pressures increased moderately in November, continuing a trend seen in October, albeit at a lower rate. #GSCPI #AMEC #supplychain >>
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@NYFedResearch
NY Fed Research
2 years
The latest reading of the Global Supply Chain Pressure Index ( #GSCPI ) shows that supply chain pressures declined in July. #supplychain
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@NYFedResearch
NY Fed Research
2 years
Jennifer La’O of Columbia University discussed her work arguing that optimal monetary policy should focus on stabilizing a price index that assigns higher weights to industries with “stickier” prices. #AMEC
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@NYFedResearch
NY Fed Research
1 year
We have resumed updating our estimates of r-star and related variables following a COVID-related hiatus. Visit our web feature “Measuring the Natural Rate of Interest” for charts and downloadable data. #AMEC
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@NYFedResearch
NY Fed Research
2 years
The average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased from $72,873 in July to $73,667 in November, the highest reading of the series. Interactive Charts >>>
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@NYFedResearch
NY Fed Research
2 years
CORPORATE BOND MARKET DISTRESS INDEX (CMDI) The CMDI has updated with data through August 2022. The CMDI uses weekly metrics to construct an aggregate index of corporate bond market conditions for both the primary and the secondary markets. >>
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@NYFedResearch
NY Fed Research
3 years
Gianluca Violante discusses the “long shadow” that recessions cast on unemployment. #AMECSymposium
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@NYFedResearch
NY Fed Research
5 years
Del Negro and coauthors propose a framework for performing parallel and "online" estimation of DSGE models using sequential Monte Carlo techniques.
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@NYFedResearch
NY Fed Research
9 months
The Optimal Supply of Central Bank Reserves under Uncertainty By Gara Afonso, Gabriele La Spada, Thomas M. Mertens, and John C. Williams #AMEC >>>
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@NYFedResearch
NY Fed Research
2 years
Today's post () examining how remote workers have allocated their time saved by not commuting informs a Bloomberg @business report.
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@NYFedResearch
NY Fed Research
7 years
The New York Fed has an excellent lending library for staff. We've added new books by Charles R. Morris, Maureen O'Hara, @mehrsabaradaran and @dianabhenriques #libraryshelfieday
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@NYFedResearch
NY Fed Research
2 years
The Curious Case of the Rise in Deflation Expectations By Olivier Armantier, Gizem Kosar, Jason Somerville, Giorgio Topa, Wilbert van der Klaauw, and John C. Williams >>>>
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@NYFedResearch
NY Fed Research
1 year
Dealer Capacity and U.S. Treasury Market Functionality By Darrell Duffie, Michael J. Fleming, Frank Keane, Claire Nelson, Or Shachar, and Peter Van Tassel >>>
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@NYFedResearch
NY Fed Research
2 years
U.S. HOME PRICE CHANGES We’ve posted new data on year-over-year on home price changes through April 2022. Hover over a county for granular data. ➡️
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@NYFedResearch
NY Fed Research
1 year
One-year-ahead inflation expectations declined sharply to 4.2%, according to the February Survey of Consumer Expectations. Three-year-ahead expectations were unchanged at 2.7%, while five-year-ahead expectations rose to 2.6%. >>>
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@NYFedResearch
NY Fed Research
8 months
New #AMEC analysis describes the economic forecast generated by the New York Fed's DSGE model for December and its change since September. Interactive charts:
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@NYFedResearch
NY Fed Research
3 months
QUARTERLY REPORT ON HOUSEHOLD DEBT AND CREDIT Our Q1:2024 report is now available. It shows that household debt rose $184 billion to reach $17.69 trillion. Delinquencies were up across debt types. Report >> Interactive charts >>
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@NYFedResearch
NY Fed Research
7 years
Today we look back at our most popular Liberty Street Economics posts of the year.
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@NYFedResearch
NY Fed Research
10 months
EMPIRE STATE MANUFACTURING SURVEY October 2023: The headline general business conditions index fell seven points to -4.6.
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@NYFedResearch
NY Fed Research
1 year
March 2023 SCE Labor Market Survey The average reservation wage—the lowest wage respondents would be willing to accept for a new job—rose to a new series high of $75,811. Survey results>>> Center for Microeconomic Data >>>
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@NYFedResearch
NY Fed Research
9 months
We updated estimates of the natural rate of interest, or r-star, and related variables for the United States through 2023:Q3 using the Laubach-Williams (LW) model. Estimates using the HLW model will follow tomorrow. Explore the charts:
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@NYFedResearch
NY Fed Research
2 years
SCE HOUSEHOLD SPENDING SURVEY Median monthly household spending growth increased to 7.8 percent year over year in April, up from 5.1 percent in December.
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@NYFedResearch
NY Fed Research
2 years
Econ and Finance PhD students: Apply now for our paid summer internship program. Further your dissertation research, interact with New York Fed economists, and obtain feedback on your work. Note the March 18 deadline. Application details are here>>
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@NYFedResearch
NY Fed Research
2 years
In Staff Reports: The Financial (In)Stability Real Interest Rate, R** By Ozge Akinci, Gianluca Benigno, Marco Del Negro, and Albert Queralto Revised October 2022 #rstar #rdoublestar #AMEC
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@NYFedResearch
NY Fed Research
7 months
QUARTERLY REPORT ON HOUSEHOLD DEBT AND CREDIT Household debt reaches $17.5 trillion in fourth quarter of 2023; Delinquency rates on most types of debt rise. Q4 Report (pdf) >>> Interactive charts >>>
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@NYFedResearch
NY Fed Research
2 years
Responding to strong interest, we will be publishing updates of the index of global #supplychain pressure that debuted on @LibertyStEcon . Look for the #GSCPI monthly beginning May 18. ​ + Media advisory: ​ Debut blog (1/4/22): ​
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@NYFedResearch
NY Fed Research
7 years
Our DSGE team is sharing more code in Julia for economic forecasting. Learn more on our blog:
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@NYFedResearch
NY Fed Research
2 years
The Bank of Japan announced a yield control policy change on Tuesday. Check out a post from our Liberty Street Economics archives on Japan’s experience with yield curve control. #BoJ >>>
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@NYFedResearch
NY Fed Research
2 years
The median reported year-over-year increase in monthly nominal household spending rose from 7.8% in April to 9.0% in August, its fifth consecutive increase since December 2020 and its highest reading since the series’ inception in December 2014.
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@NYFedResearch
NY Fed Research
2 years
A paper by Julian di Giovanni ( @nyfedresearch ) and coauthors shaped the discussion of global value chains, supply bottlenecks, and international trade at the 2022 @ECB Forum on Central Banking in Sintra, Portugal this week. #ECBForum See the paper here:
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@NYFedResearch
NY Fed Research
2 years
In Staff Reports: Intermediary Balance Sheets and the Treasury Yield Curve By Wenxin Du, Benjamin Hébert, and Wenhao Li
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