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| Our economists research and analyze monetary policy, the business cycle, growth, the labor market and other domestic economic issues. |
| New from Liberty Street Economics Blog |
 Tough Decisions, Depleted Revenues: New Jersey's Education Finances during the Great Recession In this post, using analysis published in our recent staff report, "Precarious Slopes? The Great Recession, Federal Stimulus, and New Jersey Schools," we examine how school finances were affected during the recession and the ARRA federal stimulus period. By Rajashri Chakrabarti and Sarah Sutherland |
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| 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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| Health Sector Indicators Medical care expenditures and inflation in medical and health services employment. |
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Household Credit Conditions Quarterly Report on Household Debt and Credit |
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| Inflation
Commodity prices, Price Producer Index (PPI), Consumer Price Indices (CPI), Personal Consumption Expenditures (PCE) and wages |
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| Leading Indicators Conference Board's Index of Leading Indicators and the Institute of Supply Management's Purchasing Managers' Index. |
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| Monetary Conditions Money growth rates in monetary aggregates, M1, M2 and M3 |
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| U.S. Trade
Exports and imports for U.S. trade by destination and origin. |
| Recent Articles |
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 Why Is the U.S. Share of World Merchandise Exports Shrinking? As the U.S. share of the world goods trade slips from its level in the 1980s and 1990s, concerns have arisen that the productivity of U.S. exporters has not been growing as fast as that of foreign firms selling similar products. However, an analysis of industry-level trade data suggests that two other factors explain much of the drop in export share: the changing composition of the products traded internationally and the diminished share of U.S. GDP in global output. By Benjamin R. Mandel, Current Issues in Economics and Finance Second District Hightlights (18) 1, February 2012 |
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The Price is Right: Updating of Inflation Expectations in a Randomized Price Information Experiment
In this paper, we investigate how consumers form and update their inflation expectations using a unique "information" experiment embedded in a survey. By Olivier Armantier, Scott Nelson, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar, Staff Reports 543, January 2012 |
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Is Increased Price Flexibility Stabilizing? Redux
In this paper, we study the implications of increased price flexibility on aggregate output volatility in a dynamic stochastic general equilibrium model (DSGE). By Saroj Bhattarai, Gauti Eggertsson, and Raphael Schoenle, Staff Reports 540, January 2012 |
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Optimal Disinflation Under Learning
The authors assume that private agents learn about the new policy via Bayesian updating, and we study how learning affects the nature of the transition and the choice of a new rule. By Timothy Cogley, Christian Matthes, and Argia M. Sbordone, Staff Reports 524, November 2011 |
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Do We Know What We Owe? A Comparison of Borrower- and Lender-Reported Consumer Debt
Household surveys are the source of some of the most widely studied data on consumer balance sheets, with the Survey of Consumer Finances (SCF) generally cited as the leading source of wealth data for the United States. By Meta Brown, Andrew Haughwout, Donghoon Lee, and Wilbert van der Klaauw, Staff Reports 523, October 2011 |
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Real Estate Investors, the Leverage Cycle, and the Housing Market Crisis
The authors explore a mostly undocumented but important dimension of the housing market crisis: the role played by real estate investors. By Andrew Haughwout, Donghoon Lee, Joseph Tracy, and Wilbert van der Klaauw, Staff Reports 514, September 2011 |
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