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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 November 20, 2009, the Federal Reserve Bank of New York sponsored the fall 2009 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 |
Productivity and the Density of Human CapitalThe authors estimate a model of urban productivity in which the agglomeration effect of density is enhanced by a metropolitan area’s stock of human capital. By Jaison Abel, Ishita Dey, and Todd Gabe, Staff Reports 440, March 2010 |
The Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09The authors describe the changing nature of financial intermediation in the market-based financial system, chart the course of the recent financial crisis, and outline the policy responses that have been implemented by the Federal Reserve and other central banks. By Tobias Adrian and Hyun Song Shin, Staff Reports 439, March 2010 |
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 |
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 |
Labor-Dependent Capital Income Taxation That Encourages Work and SavingThis 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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