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| Our economists produce publications and working papers of interest to policymakers, academics, business and banking professionals, and the general public. More » |
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Features |
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CHIPS Supplemental Funding and its Effects on CHIPS, Overdrafts, and Fedwire  This report examines patterns of CHIPS supplemental funding and also analyzes the new initiative’s effect on CHIPS, participants’ overdrafts, and aggregate Fedwire activity. By Dennis Kuo, James McAndrews, and Clara Sheets, August 2009 |
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| Global Dimensions of the Financial Crisis The Federal Reserve Bank of New York will host a conference on June 3 and 4, 2010, on the “Global Dimensions of the Financial Crisis. |
| Featured Economist |
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 Anthony RodriguesAnthony Rodrigues is a senior economist in the Capital Markets function in Research at the Federal Reserve Bank of New York. He has published on empirical volatility and asset pricing models. He is currently studying models of the U.S. real term structure and models of European and Japanese nominal term structures. | |
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Recent Articles
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 Liquidity-Saving Mechanisms in Collateral-Based RTGS Payment SystemsThis paper studies banks’ incentives for choosing the timing of their payment submissions in a collateral-based real-time gross settlement payment system and the way in which these incentives change with the introduction of a liquidity-saving mechanism (LSM). By Marius Jurgilas and Antoine Martin, Staff Reports 438, March 2010 |
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| Stressed, not Frozen: The Federal Funds Market in the Financial Crisis This paper examines the impact of the financial crisis of 2008, specifically the bankruptcy of Lehman Brothers, on the federal funds market. By Gara Afonso, Anna Kovner, and Antoinette Schoar, Staff Reports 437, March 2010 |
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| Social Security, Benefit Claiming, and Labor Force Participation: A Quantitative General Equilibrium Approach The authors find that a 50 percent cut in the scope of the current system significantly raises asset holdings and the labor input, primarily through higher participation of older workers, and reduces the shortfall of the Social Security budget through a reduction in early claiming. By Selahattin Imrohoroglu and Sagiri Kitao, Staff Reports 436, March 2010 |
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 The Unemployment Gender Gap during the 2007 RecessionWomen fared decidedly better than men during the most recent recession. By August 2009, the unemployment rate for men had hit 11.0 percent, while that for women held at 8.3 percent. By Ayşegül Şahin, Joseph Song, and Bart Hobijn, Current Issues in Economics and Finance (16) 2, February 2010 |
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| Labor-Dependent Capital Income Taxation That Encourages Work and Saving This paper proposes a simple mechanism of capital taxation that is negatively correlated with labor supply. By Sagiri Kitao, Staff Reports 435, February 2010 |
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