Regional Economy - Federal Reserve Bank of New York

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Regional Economy

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Regional Economy

Our economists analyze local economic growth, labor markets, real estate, and public finance issues, contributing to discussions of regional and national economic policy.

Regional Indexes of Coincident Economic Indicators
Our Indexes of Coincident Economic Indicators (CEI) for August show continued modest growth in activity in New York City, a decline in activity in New York State and continued decline in activity in New Jersey.

Recent Articles

Have Amenities Become Relatively More Important Than Firm Productivity Advantages in Metropolitan Areas?
The authors analyze patterns of compensating differentials to determine whether a region’s bundle of site characteristics has a greater net effect on household location decisions relative to firm location decisions in U.S. metropolitan areas over time.
By Richard Deitz and Jaison R. Abel, Staff Reports 344, September 2008

Human Capital and Economic Activity in Urban America
This 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

The Price of Land in the New York Metropolitan Area
The authors rely on a unique data set to calculate and analyze the price of vacant land in the New York metro area between 1999 and mid-2006.
By Andrew Haughwout, James Orr, and David Bedoll, Current Issues in Economics and Finance Second District Highlights (14) 3, April/May 2008

Trends and Developments in the Economy of Puerto Rico
The authors present an overview of Puerto Rico’s economy, examining its basic characteristics, long-term industry and labor trends, and prospects for growth.
By Jason Bram, Francisco E. Martínez, and Charles Steindel, Current Issues in Economics and Finance Second District Highlights (14) 2, March 2008

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Current Economic Indicators

Empire State Manufacturing Survey
The survey indicates manufacturing activity in New York State weakened in September. The general business conditions index slipped 10 points, to -7.4.
September 15, 2008

The Beige Book Beige Book OFFSITE
The Second District's economy has shown signs of stabilizing since the last report, though not in all sectors. Manufacturers report that business activity has steadied in recent weeks, after weakening for a number of months, and factories continue to report fairly widespread increases in both input costs and selling prices.
September 3, 2008