Economic Research

Central Bank Solvency and Inflation
The bloggers argue that it would always be appropriate for a central bank to have access to, and be willing to ask for, support for its balance sheet by the fiscal authority. In other words, central bank independence does not mean that the central bank can control inflation regardless of the actions of the fiscal authority.
By Marco Del Negro and Christopher A. Sims
The Effects of Entering and Exiting a Credit Default Swap Index
The bloggers analyze the relationship between a major credit default swap (CDS) index—the CDX.NA.IG index—and its constituents in the context of the roll process. The goal? A better understanding of how the exit of dealers from the single-name CDS market might affect pricing dynamics in the CDS market as a whole.
By Jennie Bai and Or Shachar
Just Released: SCE Credit Access Survey Shows Higher Likelihood of Consumers Applying for Credit
The February 2015 SCE Credit Access survey shows an increase in the average likelihood of consumers applying for credit over the next twelve months for all five credit products; the increase is most pronounced for mortgage refinance requests.
By Luis Armona, Wilbert van der Klaauw, and Basit Zafar
Greenboard with math squiggles for DSGE model artwork
In recent work, economists described the New York Fed’s dynamic stochastic equilibrium model, assessed its forecasting accuracy, and shared source code used for model estimation.
Research Topics in Focus: College grads
Is College Worth It?
Students in recent years have been paying more to attend college and earning less upon graduation—trends that have raised questions about whether a college education remains a good investment. But research from economists Jaison Abel and Richard Deitz finds that the benefits of college still tend to outweigh the costs.
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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.
Recent Articles
The Gender Gap in Mathematics: Evidence from a Middle-Income Country
Using a large administrative dataset from Chile, the authors find that boys perform better than girls in math, on average. They document several features of boys’ and girls’ disparate performance in math and highlight differences in self-assessed ability as an area for research that might lead to a better understanding of the gender gap in math.
By Prashant Bharadwaj, Giacomo de Giorgi, David Hansen, and Christopher Neilson, Staff Reports 721, March 2015
Gender Roles and Medical Progress
In the early twentieth century, poor maternal health made it particularly difficult for mothers to engage in market work. However, between 1930 and 1960, there was a remarkable reduction in maternal mortality and morbidity. The authors argue that medical advances, by enabling women to reconcile work and motherhood, were essential for the joint rise in married women’s labor force participation and fertility over this period.
By Stefania Albanesi and Claudia Olivetti, Staff Reports 720, March 2015
The Rescue of Fannie Mae and Freddie Mac
The authors describe and evaluate the measures taken by the U.S. federal government to rescue Fannie Mae and Freddie Mac in September 2008.
By W. Scott Frame, Andreas Fuster, Joseph Tracy, and James Vickery, Staff Reports 719, March 2015
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