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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 7, 2008, the Federal Reserve Bank of New York sponsored the fall 2008 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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 Commodity Price Movements
and PCE InflationA study of the contributions of grain and oil prices to the PCE index of inflation suggests that the effects are more modest than one might expect. By Bart Hobijn, Current Issues in Economics and Finance (14) 8, November 2008 |
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 Imperfectly Credible Disinflation under Endogenous Time-Dependent PricingIn this paper, we examine how credibility affects the outcome of a disinflation in a model with endogenous time-dependent pricing rules. By Marco Bonomo and Carlos Carvalho, Staff Reports 355, November 2008 |
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| Aggregation and the PPP Puzzle in a Sticky-Price Model The authors show that in this economy, deviations of the real exchange rate from PPP are more volatile and persistent when compared with a counterfactual one-sector world economy that features the same average frequency of price changes and is otherwise identical to the multisector world economy. By Carlos Carvalho and Fernanda Nechio, Staff Reports 351, October 2008 |
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| Housing Busts and Household Mobility The authors used two decades of American Housing Survey data from 1985 to 2005, estimated the influence of negative home equity and rising mortgage interest rates on household mobility. By Fernando Ferreira, Joseph Gyourko, and Joseph Tracy, Staff Reports 350, October 2008 |
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| ESOP Fables: The Impact of Employee Stock Ownership Plans on Labor Disputes In this paper, we extend the signaling model of Cramton and Tracy (1992) to allow partial ownership by the union. By Peter Cramton, Hamid Mehran, and Joseph Tracy , Staff Reports 347, September 2008 |
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| How Economic News Moves Markets The authors’ analysis of the direction of these effects suggests that news of stronger-than-expected growth and inflation generally prompts a rise in bond yields and the exchange value of the dollar. By Leonardo Bartolini, Linda Goldberg, and Adam Sacarny, Current Issues in Economics and Finance (14) 6, August 2008 |
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