U.S. households accumulated record-high levels of debt in the 2000s and then began a process of deleveraging following the Great Recession and financial crisis. However, the magnitude of these swings in the use of credit varied considerably within the United States. An analysis of trends in...

Since the 1980s, employment opportunities in both the United States and the New York–northern New Jersey region have become increasingly polarized. While technological advances and globalization have created new jobs for workers at the high end of the skill spectrum and largely spared the...

In New York State, where economic growth has been sluggish for much of the last decade, the rural economy has done relatively well. The population and labor force in rural areas are expanding, and the number of jobs growing. We take a look at this robust rural economy, examining population and...

The Buffalo Branch of the Federal Reserve Bank of New York and the Center for Governmental Research (CGR) surveyed small businesses in western and central New York State. The object of the survey was to identify what small business owners perceive to be the chief barriers to the growth of their...

We analyze the restructuring of the manufacturing workforce over the past two decades by investigating how the occupational distribution of workers has changed. We identify important regional differences in the nature and degree of this restructuring, and give particular attention to New York...

We consider why broad-based economies have some advantages over their more specialized counterparts. We show that diversity can be a spur to productivity and innovation, and that firms in a region with many types of businesses will enjoy easy access to the resources and services needed for...

The June 6 conference "Manufacturing Matters" was sponsored by the Federal Reserve Bank of New York, Buffalo Branch in conjunction with the Western New York Technology Development Center and the Buffalo Niagara Partnership's Manufacturers Council.

We examine the foreclosure rate in the U.S. economy and outline factors that may be contributing to its rise. We also investigate the behavior of foreclosure rates in New York State and six of its major metropolitan areas. Particular attention is given to Buffalo, where foreclosures increased...

We begin with a broad discussion of how tourism has emerged as a force in the U.S. and regional economies. We follow with an examination of the industry's size and growth in upstate New York. We also show that the state's rural economy is generally more dependent on tourism than are its metro...

In the wake of the most recent U.S. recession, both New York State and New Jersey have faced multibillion-dollar budget gaps. An analysis of the makeup of their budgets reveals that the states' heavy reliance on personal income taxes--particularly from high-wage earners in the finance...