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New York Fed
New York Fed Research and Commentary
About
Publications
573Remote Work from the Office
Oct 01, 2026
Unwavering Dedication
Sep 29, 2026
Economic Conditions in New York State
Sep 25, 2026
Forging A Resilient Path
Sep 24, 2026
Supplying Ample Reserves
Sep 22, 2026
Do You Remember?
Sep 22, 2026
Global Supply Chain Pressures Rose in August
Sep 04, 2026
Cyclical Earnings, Career and Employment Transitions
Sep 01, 2026
The Implied Equity Term Structure
Sep 01, 2026
When Higher Stakes Weaken Security
Sep 01, 2026
How Do Banks Build Equity Capital?
Sep 01, 2026
Stablecoins Meet the Mundell-Fleming Trilemma
Aug 01, 2026
Ordinal Complementarity
Aug 01, 2026
Stability of Thy Times
Jul 15, 2026
Risks to Inflation and Activity Remain Stablein July
Jul 15, 2026
The Value of Central Bank Relationships
Jul 07, 2026
Bank Runs With and Without Bank Failure
Jul 01, 2026
The International RBC Model Finally Works!
Jul 01, 2026
DSGE ModelRaises 2026 Inflation Forecast
Jun 22, 2026
Evolving Market Structure and the Desk's Role
Jun 22, 2026
Risks to Inflation and Activity Remain Stablein June
Jun 17, 2026
Global Supply Chain Pressures Fell in May
Jun 04, 2026
HPW Labor Market Tightness Index Ticks Down in April
Jun 02, 2026
The U.S. Economy: National Economic Outlook
May 22, 2026
Reserve Management and the Fed's System Open Market Account: Recent Experience and Insights from Surveys
May 19, 2026
Global Supply Chain Pressures Rose in April
May 06, 2026
HPW Labor Market Tightness Index Ticks Up in March
May 06, 2026
There Is No Try
May 04, 2026
Regulatory Arbitrage Within the Firm
May 01, 2026
Bayesian Persuasion and Cryptography
May 01, 2026
The Cosmos
Apr 16, 2026
Risks to Inflation andActivity Remain Stablein April
Apr 15, 2026
Global Supply Chain Pressures Rose in March
Apr 06, 2026
Financial Shocks, Productivity, and Prices
Apr 01, 2026
Ferrying Through the Crosscurrents
Mar 30, 2026
Reflections on the Early Days of Reserve Management Purchases and the Maintenance of Ample Reserves
Mar 26, 2026
Risks to Inflation andActivity Remain Stablein March
Mar 18, 2026
Two Sides of a Coin
Mar 03, 2026
Repo and the Liquidity Risk Premium
Mar 01, 2026
The U.S. Economy: Reflections and a Look Ahead
Feb 19, 2026
Systemic Cyber Risk
Feb 01, 2026
Interest Rate Surprises When the Fed Doesn't Speak
Feb 01, 2026
Programming Money Without Programmable Money
Feb 01, 2026
Bank Failures: The Roles of Solvency and Liquidity
Feb 01, 2026
The Payoffs of Higher Pay: Labor Supply and Productivity Responses to a Voluntary Firm Minimum Wage
Feb 01, 2026
Sports Betting Across Borders: Spatial Spillovers, Credit Distress, and Fiscal Externalities
Feb 01, 2026
Stablecoin Disintermediation
Feb 01, 2026
A Few Words for the New Year
Jan 12, 2026
HPW Labor Market Tightness Index Now Available
Jan 08, 2026
Global Supply Chain Pressures Rose in December
Jan 07, 2026
Risks to Activityand Inflation Remain Stable
Dec 17, 2025
Resilience
Dec 15, 2025
DSGE Model Raises 2025Growth Forecast
Dec 12, 2025
Global Supply Chain Pressures Fell in November
Dec 04, 2025
Deposit Specialization and Lending Behavior
Dec 01, 2025
How Do Banks Build Equity Capital?
Dec 01, 2025
Navigating Unpredictable Terrain
Nov 21, 2025
Risks to Inflationand Activity Remain Stable
Nov 19, 2025
Next Level Unlocked
Nov 12, 2025
Global Supply Chain Pressures Fell in October
Nov 06, 2025
Economics of Property Insurance
Nov 01, 2025
National and Regional Economic Outlook
Oct 07, 2025
Global Supply Chain Pressures Rose in September
Oct 06, 2025
Prepare for the Unexpected
Oct 03, 2025
Cognitive Health, Household Financial Decision-Making, and Intrahousehold Financial Spillovers
Oct 01, 2025
Supervising Failing Banks
Oct 01, 2025
Balance Sheet Reduction and Ample Reserves
Sep 29, 2025
New York Fed Staff Nowcast Holds at 2.1%for 2025:Q3
Sep 19, 2025
Risks to Inflation and ActivityRemain Stable
Sep 17, 2025
Global Supply Chain Pressures Fell in August
Sep 05, 2025
Hat Tip to the Data
Sep 04, 2025
Risks to Activity and InflationRemain Stable
Aug 20, 2025
Global Supply Chain Pressures Fell in July
Aug 06, 2025
Can Redemption Fees Prevent Runs on Funds?
Aug 01, 2025
Nonlinear Micro Income Processes with Macro Shocks
Aug 01, 2025
National and Regional Economic Outlook
Jul 17, 2025
Summer of '25: The Data
Jul 16, 2025
Global Supply Chain Pressures Fell in June
Jul 07, 2025
Management and Firm Dynamism
Jul 01, 2025
A Danger to Self and Others: Health and Criminal Consequences of Involuntary Hospitalization
Jul 01, 2025
Multivariate Core Trend Inflation at 2.7% in May
Jun 30, 2025
Best Practices in U.S. Treasury Repo Markets
Jun 24, 2025
The Totality of the Data
Jun 24, 2025
Global Supply Chain Pressures Rose in May
Jun 05, 2025
When the Map No Longer Matches the Terrain
Jun 04, 2025
The Theory of Financial Stability Meets Reality
Jun 01, 2025
On the Optimal Supply of Reserves
May 22, 2025
Downside Risks to Activity Recede in May
May 21, 2025
Banks and the Rise of Nonbanks in Credit Markets
May 19, 2025
Why Are You (Y* R* U*)
May 18, 2025
National Economic Outlook
May 09, 2025
Uncertainty and Robust Monetary Policy
May 09, 2025
Global Supply Chain Pressures Fell in April
May 06, 2025
Uncertain Times
Apr 11, 2025
Global Supply Chain Pressures Fell in March
Apr 04, 2025
The Bank-NBFI Nexus
Apr 03, 2025
Monetary Policy Implementation
Apr 02, 2025
Component-Based Dynamic Factor Nowcast Model
Apr 01, 2025
How Do We Learn About the Long Run?
Apr 01, 2025
Multivariate Core Trend Inflation at 3% in February
Mar 31, 2025
Opening Remarks
Mar 25, 2025
National Economic Outlook
Mar 25, 2025
Economic Conditions in the Region
Mar 25, 2025
Certain Uncertainty
Mar 21, 2025
DSGE Model Lowers 2025 Growth Forecast to 1.2%
Mar 21, 2025
Global Supply Chain Pressures Rose in February
Mar 06, 2025
Current Issues in Monetary Policy Implementation
Mar 05, 2025
Credit Card Banking
Mar 01, 2025
The Prudential Toolkit with Shadow Banking
Mar 01, 2025
Bank Economic Capital
Mar 01, 2025
Economic Conditions in New York State
Feb 19, 2025
From Where We Are Now
Feb 11, 2025
Global Supply Chain Pressures Fell in January
Feb 06, 2025
All-to-All Trading in the U.S. Treasury Market
Feb 01, 2025
Mentions of Inventions
Jan 15, 2025
An Economy That Works for All: Housing Affordability
Jan 14, 2025
Global Supply Chain Pressures Fell in December
Jan 07, 2025
DSGE Model Raises 2024 Growth Forecast to 2.6%
Dec 20, 2024
Global Supply Chain Pressures Ticked Up in November
Dec 05, 2024
The Journey
Dec 02, 2024
100 Years at 33 Liberty Street
Nov 15, 2024
X Marks the Spot: Making Missing Markets
Nov 14, 2024
Disinflation ... and Whose Inflation?
Nov 12, 2024
Global Supply Chain Pressures Fellin October
Nov 06, 2024
Firms' Supply Chain Adaptation to Carbon Taxes
Nov 01, 2024
Who Collaborates with the Soviets? Financial Distress and Technology Transfer During the Great Depression
Nov 01, 2024
Clustering in Natural Disaster Losses
Nov 01, 2024
All About Data
Oct 10, 2024
New York City Is Alive
Oct 04, 2024
Wage Growth and Labor Market Tightness
Oct 01, 2024
Do Cost-of-Living Shocks Pass Through to Wages?
Oct 01, 2024
Failing Banks
Oct 01, 2024
Climate-Related Financial Stability Risks for the United States: Methods and Applications
Oct 01, 2024
Balance Sheet Normalization: Monitoring Reserve Conditions and Understanding Repo Market Pressures
Sep 26, 2024
Ten Years Gone
Sep 26, 2024
Market Intelligence and the Monetary Policy Process
Sep 24, 2024
E' Is for Equipoise
Sep 06, 2024
Zero Settlement Risk Token Systems
Sep 01, 2024
The Nonbank Footprint of Banks
Sep 01, 2024
The Pay and Non-Pay Content of Job Ads
Sep 01, 2024
Payout Restrictions and Bank Risk-Shifting
Sep 01, 2024
Optimal Design of Tokenized Markets
Sep 01, 2024
Where Do Banks End and NBFIs Begin?
Sep 01, 2024
Brand Reallocation and Market Concentration
Aug 01, 2024
Financing Private Credit
Aug 01, 2024
Measurement and Theory of Core Inflation
Aug 01, 2024
Consumer Credit Reporting Data
Aug 01, 2024
Nonlinear Binscatter Methods
Aug 01, 2024
Managing the Known Unknowns
Jul 05, 2024
R-Star: A Global Perspective
Jul 03, 2024
The Countercyclical Benefits of Regulatory Costs
Jul 01, 2024
Quantitative Easing and Inequality
Jul 01, 2024
Welcome Remarks: PhD Excellence Initiative
Jun 28, 2024
The Business Case for Diverse Perspectives
Jun 18, 2024
A Season of Change for the U.S. Treasury Market
Jun 05, 2024
Finding Balance in the Economy
May 30, 2024
Information and Market Power in DeFi Intermediation
May 01, 2024
The Nonlinear Case Against Leaning Against the Wind
May 01, 2024
Wage Insurance for Displaced Workers
May 01, 2024
Tracing Bank Runs in Real Time
May 01, 2024
Insurance, Weather, and Financial Stability
May 01, 2024
Do Mortgage Lenders Respond to Flood Risk?
May 01, 2024
The Legal Function's Role in the Risk Management Framework: Jack-of-All-Trades, Cog in the Machine, or Misfit Toy?
Apr 19, 2024
Presentation by Andrew F. Haughwout at the 2024 New York Fed Regional and Community Banking Conference
Apr 18, 2024
Eclipse
Apr 16, 2024
The Anatomy of Export Controls
Apr 12, 2024
Monetary Policy and Money Market Funds in Europe
Apr 11, 2024
Internal Liquidity's Value in a Financial Crisis
Apr 08, 2024
Physical Climate Risk and Insurers
Apr 03, 2024
Personal Bankruptcy Protection and Household Debt
Apr 01, 2024
Is There Hope for the Expectations Hypothesis?
Apr 01, 2024
The Life-Cycle Dynamics of Wealth Mobility
Apr 01, 2024
What Happens to U.S. Activity and Inflation if China's Property Sector Leads to a Crisis?
Mar 26, 2024
What if China Manufactures a Sugar High?
Mar 25, 2024
Stablecoins and Crypto Shocks
Mar 08, 2024
Will the Moderation in Wage Growth Continue?
Mar 07, 2024
Expectations and the Final Mile of Disinflation
Mar 05, 2024
Global Supply Chains and U.S. Import Price Inflation
Mar 04, 2024
Miss-Allocation: The Value of Workplace Gender Composition and Occupational Segregation
Mar 01, 2024
Micro Responses to Macro Shocks
Mar 01, 2024
International Banking and Nonbank Financial Intermediation: Global Liquidity, Regulation, and Implications
Mar 01, 2024
The Global Credit Cycle
Mar 01, 2024
Spillovers and Spillbacks
Mar 01, 2024
Drivers of Dollar Share in Foreign Exchange Reserves
Mar 01, 2024
Nonlinear Firm Dynamics
Mar 01, 2024
Can Electric Cars Power China's Growth?
Feb 28, 2024
There and Back Again
Feb 28, 2024
The Financial Stability Outlook
Feb 28, 2024
How and Why Do Consumers Use "Buy Now, Pay Later"?
Feb 14, 2024
Measuring Treasury Market Depth
Feb 12, 2024
Wealth Inequality by Age in the Post-Pandemic Era
Feb 07, 2024
Balance Sheet Basics, Progress, and Future State
Feb 07, 2024
The Power of Proximity: How Working beside Colleagues Affects Training and Productivity
Jan 18, 2024
Rules of Three
Jan 10, 2024
An Overlooked Factor in Banks' Lending to Minorities
Jan 10, 2024
Measuring Price Inflation and Growth in Economic Well-Being with Income-Dependent Preferences
Jan 08, 2024
Monetary Policy across Inflation Regimes
Jan 01, 2024
Self-Employment and Labor Market Risks
Jan 01, 2024
The New York Fed DSGE Model: A Post-Covid Assessment
Jan 01, 2024
Does Trade Uncertainty Affect Bank Lending?
Dec 20, 2023
Recent Disparities in Earnings and Employment
Dec 01, 2023
The Global Dash for Cash: Why Sovereign Bond Market Functioning Varied across Jurisdictions in March 2020
Dec 01, 2023
Restoring Price Stability
Nov 30, 2023
Treasury Bill Supply and ON RRP Investment
Nov 29, 2023
Bond Funds in the Aftermath of SVB's Collapse
Nov 28, 2023
The Nonbank Shadow of Banks
Nov 27, 2023
Banks versus Hurricanes
Nov 20, 2023
Flood-Prone Basement Housing in New York City and the Impact on Low- and Moderate-Income Renters
Nov 17, 2023
Opening Remarks
Nov 16, 2023
Disentangling Messages from the Treasury Market
Nov 16, 2023
Elementary, Dear Data
Nov 16, 2023
The Dual Transformation of R&S and Monetary Policy
Nov 08, 2023
Banking System Vulnerability: 2023 Update
Nov 06, 2023
Congestion in Onboarding Workers and Sticky R&D
Nov 01, 2023
Trade Uncertainty and U.S. Bank Lending
Nov 01, 2023
Pandemic-Era Inflation Drivers and Global Spillovers
Nov 01, 2023
Can China Catch Up with Greece?
Oct 19, 2023
An Update on the Health of the U.S. Consumer
Oct 18, 2023
How Has Treasury Market Liquidity Evolved in 2023?
Oct 17, 2023
The FX Global Code: Progress Made and The Path Ahead
Oct 17, 2023
Racial Discrimination in Child Protective Services
Oct 16, 2023
Does Income Inequality Affect Small Firms?
Oct 05, 2023
A Look at Convenience Yields around the World
Oct 03, 2023
Options for Calculating Risk-Free Rate
Oct 02, 2023
Flexibility and Conversions in New York City's Housing Stock: Building for an Era of Rapid Change
Oct 01, 2023
The Promises and Perils of Racial Equity Planning
Oct 01, 2023
COVID and Cities, Thus Far
Oct 01, 2023
Peeling the Inflation Onion, Revisited
Sep 29, 2023
Why Are China's Households in the Doldrums?
Sep 27, 2023
Who Uses "Buy Now, Pay Later?"
Sep 26, 2023
The New York Fed DSGE Model Forecast- September 2023
Sep 22, 2023
Reintroducing the New York Fed Staff Nowcast
Sep 08, 2023
Leader-Follower Dynamics in Shareholder Activism
Sep 06, 2023
Capital Management and Wealth Inequality
Sep 01, 2023
Businesses Want Remote Work, Just Not as Much
Aug 23, 2023
What Makes Cryptocurrencies Different?
Aug 16, 2023
The Evolution of Short-Run r* after the Pandemic
Aug 10, 2023
The Post-Pandemic r*
Aug 09, 2023
Estimating HANK for Central Banks
Aug 01, 2023
Runs on Stablecoins
Jul 12, 2023
Where Is Inflation Persistence Coming From?
Jul 06, 2023
Beta-Sorted Portfolios
Jul 01, 2023
Measuring the Climate Risk Exposure of Insurers
Jul 01, 2023
A Measure of Core Wage Inflation
Jul 01, 2023
Is Work-from-Home Working?
Jun 20, 2023
Global Liquidity: Drivers, Volatility and Toolkits
Jun 01, 2023
Financial Stability and Interest Rates
May 23, 2023
Financial Vulnerability and Macroeconomic Fragility
May 22, 2023
Banks' Balance-Sheet Costs and ON RRP Investment
May 18, 2023
The U.S. Dollar in the Global Economy
May 18, 2023
What Is "Outlook-at-Risk?"
May 17, 2023
The Great Pandemic Mortgage Refinance Boom
May 15, 2023
Banks Runs and Information
May 12, 2023
This Is the Way
May 09, 2023
Applications or Approvals: What Drives Racial Disparities in the Paycheck Protection Program?
May 01, 2023
Moving Out of a Flood Zone? That May Be Risky!
Apr 20, 2023
Attaining and Maintaining Price Stability
Apr 19, 2023
Financial Fragility without Banks
Apr 17, 2023
Deposit Betas: Up, Up, and Away?
Apr 11, 2023
What's New with Corporate Leverage?
Apr 07, 2023
Climate Stress Testing
Apr 01, 2023
U.S. Banks' Exposures to Climate Transition Risks
Apr 01, 2023
Achieving Balance Amid Uncertainty
Mar 31, 2023
The Dollar's Imperial Circle
Mar 01, 2023
Does the CRA Increase Household Access to Credit?
Feb 27, 2023
A Turning Point in Wage Growth?
Feb 23, 2023
What Is "Outlook-at-Risk?"
Feb 15, 2023
Our Work Is Not Yet Done
Feb 14, 2023
Is the Green Transition Inflationary?
Feb 14, 2023
Remarks at the Next Step FX Event
Feb 08, 2023
Is There a Bitcoin-Macro Disconnect?
Feb 08, 2023
Inflation Persistence-An Update with December Data
Feb 07, 2023
The Bitcoin-Macro Disconnect
Feb 01, 2023
Is the Green Transition Inflationary?
Feb 01, 2023
Noncognitive Skills at the Time of COVID-19: An Experiment with Professional Traders and Students
Feb 01, 2023
Sparse Trend Estimation
Feb 01, 2023
Market-Function Asset Purchases
Feb 01, 2023
Inflation Disparities by Race and Income Narrow
Jan 18, 2023
Rural Households Hit Hardest by Inflation in 2021-22
Jan 18, 2023
The Recent Rise in Discount Window Borrowing
Jan 17, 2023
Global Supply Chain Pressure Index: The China Factor
Jan 06, 2023
The Layers of Inflation Persistence
Jan 05, 2023