Economic Research

New From Liberty Street Economics
Cross-Country Evidence on Transmission of Liquidity Risk through Global Banks
Little is known about how cross-border operations of global banks transmit liquidity shocks between countries. There is a lack of public data on the balance sheets of global banks, and it is difficult to compare the results of different research projects that use sensitive supervisory data collected by banking supervisors and central banks. Together with other scholars, the bloggers have established the International Banking Research Network (IBRN) to overcome these limitations.
By Claudia M. Buch, James Chapman, and Linda Goldberg
Direct Purchases of U.S. Treasury Securities by Federal Reserve Banks
Garbade reviews the history of the Federal Reserve’s direct purchase authority from its origination under the Federal Reserve Act of 1913 to the present. Since 1981, the U.S. Treasury has lacked a robust safety net that would allow it to meet its obligations in the event of an unforeseen depletion of its cash balances.
By Kenneth D. Garbade
International Banking Research Network image
International Banking Research Network
This New York Fed-hosted microsite describes an initiative of central bank researchers who are engaged in a coordinated study of global banks and their activities internationally.
Center for MicroEconomic Data  image
The Center for Microeconomic Data
This new research hub centralizes the wide-ranging microeconomic data, research, and analysis produced by the New York Fed.
Higher Education Map
For-Profits in the Higher Education Landscape
Interactive maps and charts shed light on the unprecedented growth, market share, student loans, tuition pricing, federal grants, and more for for-profit higher education institutions.
Recent Articles
How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment
The authors describe using a randomized controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production decisions.
By Shawn Cole, Xavier Gine, and James Vickery, Staff Reports 692, September 2014
What Predicts U.S. Recessions?
The authors reassess the predictability of U.S. recessions at horizons from three months to two years ahead for a large number of previously proposed leading indicator variables.
By Emanuel Moench and Weiling Liu, Staff Reports 691, September 2014
Monetary Policy, Financial Conditions, and Financial Stability
The authors provide a review of the transmission channels of monetary policy, focusing not just on financial conditions, but also on financial stability consequences by way of financial vulnerabilities.
By Tobias Adrian and Nellie Liang, Staff Reports 690, September 2014
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