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Our economists research and analyze monetary policy, the business cycle, growth, the labor market and other domestic economic issues.
 
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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.
 
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Recent Articles
Staff ReportsSocial 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
Current IssuesThe Unemployment Gender Gap during the 2007 Recession
Women 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
Staff ReportsLabor-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
Staff ReportsCorrelated Disturbances and U.S. Business Cycles
The authors propose a new Bayesian econometric method to estimate such models based on conjugate conditionals and re-examine the U.S. business.
By Vasco Curdia and Ricardo Reis, Staff Reports 434, February 2010
Staff ReportsThe Paradox of Toil
This paper proposes a new paradox: the paradox of toil. Suppose everyone wakes up one day and decides they want to work more.
By Gauti Eggertsson, Staff Reports 433, February 2010
Staff ReportsFinancial Amplification Mechanisms and the Federal Reserve’s Supply of Liquidity during the Crisis
The authors review the literature on financial amplification mechanisms and discuss the Federal Reserve’s interventions during different stages of the crisis in light of this literature.
By Asani Sarkar and Jeffrey Shrader, Staff Reports 431, February 2010
Staff ReportsMacro Risk Premium and Intermediary Balance Sheet Quantities
The authors base their argument in this paper on the relationship between the macro risk premium and the growth of financial intermediaries’ balance sheets.
By Tobias Adrian, Emanuel Moench, and Hyun Song Shin, Staff Reports 428, January 2010
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