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| National Economy |
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| Our economists research and analyze monetary policy, the business cycle, growth, the labor market and other domestic economic issues. |
| Features |
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| New York Area Workshop on Monetary Policy On November 20, 2009, the Federal Reserve Bank of New York is sponsoring the fall 2009 meeting of the Monetary Policy Workshop. |
| Current Economic Indicators |
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| Economic
Growth and Output Business finance, personal finance, production, demand, income, consumption and savings data |
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| Employment Employment rates, unemployment rates, hours worked and payroll changes |
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| Money
Growth Money growth rates in monetary aggregates, M1, M2 and M3 |
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| Inflation
Commodity prices, Price Producer Index (PPI), Consumer Price Indices (CPI), Personal Consumption Expenditures (PCE) and wages |
| Recent Articles |
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 How Rigid Are Producer Prices?This article investigates the price rigidity of producer prices using microeconomic data from the U.S. Bureau of Labor Statistics. By Pinelopi Goldberg and Rebecca Hellerstein, Staff Reports 407, November 2009 |
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| Micro, Macro, and Strategic Forces in International Trade Invoicing The authors use a new, highly disaggregated data set to assess the roles of the various invoicing determinants. By Linda Goldberg and Cedric Tille, Staff Reports 405, November 2009 |
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| Conventional and Unconventional Monetary Policy We extend a standard New Keynesian model both to incorporate heterogeneity in spending opportunities along with two sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining equilibrium. By Vasco Curdia and Michael Woodford, Staff Reports 404, November 2009 |
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A Bayesian Approach to Estimating Tax and Spending Multipliers This paper outlines a simple Bayesian methodology for estimating tax and spending multipliers in a dynamic stochastic general equilibrium (DSGE) model. By Matthew Denes and Gauti Eggertsson, Staff Reports 403, November 2009 |
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What Fiscal Policy is Effective at Zero Interest Rates? This paper shows that tax cuts can deepen a recession if the short-term nominal interest rate is zero, according to a standard New Keynesian business cycle model. By Gauti Eggertsson, Staff Reports 402, November 2009 |
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Do Colleges and Universities Increase Their Region's Human Capital? The authors investigate whether the degree production and research and development (R&D) activities of colleges and universities are related to the amount and types of human capital present in the metropolitan areas where the institutions are located. By Jaison R. Abel and Richard Deitz, Staff Reports 401, October 2009 |
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| Labor Supply Heterogeneity and Macroeconomic Comovement This paper shows that a neoclassical model consistent with observed heterogeneity in labor supply and consumption can generate comovement in the absence of TFP shocks. By Stefano Eusepi and Bruce Preston, Staff Reports 399, October 2009 |
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