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The Historical and Recent Behavior of Goods and Services Inflation

Peach, Richard W.; Rich, Robert; Antoniades, Alexis - Federal Reserve Bank <New York, NY>; Columbia … - 2004

[...]In this article, we model the relationship between goodsinflation and services inflation from 1967:2 to 2002:4. To helpinform the inflation debate, we then use our results to forecastinflation for 2003. The specific inflation series that we model isthe quarterly change (at an annual rate)...

Persistent link: https://www.econbiz.de/10005869744

Industry-Specific Exchange Rates for the United States

Goldberg, Linda S. - Federal Reserve Bank <New York, NY> - 2004

[...]In this article, we demonstrate how such industry-specific realexchange rates can be constructed and present the recent pathsof these indexes. We next present three basic real exchange ratemeasures for each industry: one using export partner weightsonly, a second using import partner...

Persistent link: https://www.econbiz.de/10005869757

A Comparison of Measures of Core Inflation

Rich, Robert; Steindel, Charles - Federal Reserve Bank <New York, NY> - 2007

currentdebate on this issue, we adopt a general framework for theanalysis. Regarding the choice of aggregate price indexes, wefocus … on inflation measures that are likely goals for U.S.monetary policy, namely the consumer price index (CPI) andthe …

Persistent link: https://www.econbiz.de/10005869658

Trends in Financial Market Concentration and Their Implications for MarketStability

Cetorelli, Nicola; Hirtle, Beverly; Morgan, Donald P.; … - Federal Reserve Bank <New York, NY> - 2007

[...]Our analysis of how U.S. financial market structure haschanged over the last decade produces more definitiveconclusions. Using firm-level data from a variety of sources, including data collected by central banks, we document that inaggregate, most U.S. wholesale credit and capital markets...

Persistent link: https://www.econbiz.de/10005869671

Trading Risk, Market Liquidity, and Convergence Trading in the Interest Rate Swap Spread

Kambhu, John - Federal Reserve Bank <New York, NY> - 2006

fundamental levels and stabilize markets. Bycountering and smoothing price shocks, the trading flows ofconvergence traders can … trading riskamplifies asset price shocks.[...] …

Persistent link: https://www.econbiz.de/10005869677

Local or State? Evidence on Bank Market Size Using Branch Prices

Edelstein, Paul; Morgan, Donald P. - Federal Reserve Bank <New York, NY> - 2006

morebranches from other banks (Benz 1998). The price of a givenbranch should depend on the branch’s expected profits, andexpected …. Our branch price data seem to work wellin the sense that branch prices are always correlated withconcentration at one … cannot conclude entirely in favor of the statemarkethypothesis. Branch price data certainly advance thelocal …

Persistent link: https://www.econbiz.de/10005869680