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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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 Stavros PeristianiStavros Peristiani is an Assistant Vice President in the Financial Intermediation Function at the Federal Reserve Bank of New York. His research interests include banking and finance, theoretical and applied econometrics. | |
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Recent Articles
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A Bayesian Approach to Estimating Tax and Spending MultipliersThis paper outlines a simple Bayesian methodology for estimating tax and spending multipliers in a dynamic stochastic general equilibrium (DSGE) model. By Matthew Denes and Gauti Eggertsson, Staff Reports 403, November 2009 |
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What Fiscal Policy is Effective at Zero Interest Rates? This paper shows that tax cuts can deepen a recession if the short-term nominal interest rate is zero, according to a standard New Keynesian business cycle model. By Gauti Eggertsson, Staff Reports 402, November 2009 |
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Do Colleges and Universities Increase Their Region's Human Capital? The authors investigate whether the degree production and research and development (R&D) activities of colleges and universities are related to the amount and types of human capital present in the metropolitan areas where the institutions are located. By Jaison R. Abel and Richard Deitz, Staff Reports 401, October 2009 |
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The Determinants of International Flows of U.S. Currency
This paper examines the determinants of cross-border flows of U.S. dollar banknotes, using a new panel data set of bilateral flows between the United States and 103 countries from 1990 to 2007. By Rebecca Hellerstein and William Ryan, Staff Reports 400, October 2009 |
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 The Global Financial Crisis and Offshore Dollar MarketsThe authors examine the unusual increase in the euro-dollar foreign exchange swap basis, which is an interest rate differential relative to dollar LIBOR, during the crisis of 2007 and 2008. By Niall Coffey, Warren B. Hrung, Hoai-Luu Nguyen, and Asani Sarkar, Current Issues in Economics and Finance (15) 6, October 2009 |
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| Labor Supply Heterogeneity and Macroeconomic Comovement This paper shows that a neoclassical model consistent with observed heterogeneity in labor supply and consumption can generate comovement in the absence of TFP shocks. By Stefano Eusepi and Bruce Preston, Staff Reports 399, October 2009 |
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