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Primiceri, Giorgio; Tambalotti, Andrea; Justiniano, … - Federal Reserve Bank of New York - 2015

The housing boom that preceded the Great Recession was the result of an increase in credit supply driven by looser lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical observations: the unprecedented rise in home prices,...

Persistent link: https://www.econbiz.de/10011160730

Federal Reserve readings on inflation

1979

Persistent link: https://www.econbiz.de/10001852635

ECB monetary operations and the interbank repo market

Dunne, Peter G.; Fleming, Michael J.; Zholos, Andrey - Federal Reserve Bank of New York - 2013

We examine the relationship between monetary policy operations and interbank borrowing and lending of funds using sovereign bonds as collateral. We first establish that, in the precrisis period, there are important but rather weak relations between these funding sources and that this...

Persistent link: https://www.econbiz.de/10010732481

Noisy information and fundamental disagreement

Andrade, Philippe; Crump, Richard K.; Eusepi, Stefano; … - Federal Reserve Bank of New York - 2013

, relatively flat for CPI inflation, and upward-sloping for the federal funds rate; 3) disagreement is time varying at all horizons …

Persistent link: https://www.econbiz.de/10010735680

The FRBNY staff underlying inflation gauge: UIG

Amstad, Marlene; Potter, Simon; Roberts, Richard - Federal Reserve Bank of New York - 2014

Monetary policymakers and long-term investors would benefit greatly from a measure of underlying inflation that uses … all relevant information, is available in real time, and forecasts inflation better than traditional underlying inflation … measures such as core inflation measures. This paper presents the “FRBNY Staff Underlying Inflation Gauge (UIG)” for CPI and …

Persistent link: https://www.econbiz.de/10011027238

Payment networks in a search model of money

Martin, Antoine; Orlando, Michael; Skeie, David - Federal Reserve Bank of New York - 2006

In a simple search model of money, we study a special kind of memory that gives rise to an arrangement resembling a …

Persistent link: https://www.econbiz.de/10005526318

Can a fiscal contraction strengthen a currency?: Some doubts about conventional Mundell-Fleming results

Cantor, Richard; Driskill, Robert - Federal Reserve Bank of New York - 1996

This article demonstrates that a fiscal expansion can induce both a short- and long-run depreciation of a currency and, by parallel arguments, fiscal contraction can induce short- and long-run appreciation. This possibility hinges on a country being a debtor with at least some of its debt...

Persistent link: https://www.econbiz.de/10005387242

Informational contagion in the laboratory

Cipriani, Marco; Guarino, Antonio; Guazzarotti, Giovanni; … - Federal Reserve Bank of New York - 2015

We study the informational channel of financial contagion in the laboratory. In our experiment, two markets with correlated fundamentals open sequentially. In both markets, subjects receive private information. Subjects in the market opening second also observe the history of trades and prices...

Persistent link: https://www.econbiz.de/10011189148

Menu costs at work : restaurant prices and the introduction of the Euro

Hobijn, Bart (contributor); Ravenna, Federico (contributor); … - 2004 - [Elektronische Ressource]

realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …

Persistent link: https://www.econbiz.de/10002521760

Forecasting and estimating multiple change-point models with an unknown number of change points

Koop, Gary M. (contributor); Potter, Simon M. (contributor) - 2004 - [Elektronische Ressource]

involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …

Persistent link: https://www.econbiz.de/10002521761

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