The securities industry is more important than ever to the New York City economy, and a protracted downturn in the industry's employment could seriously hurt the overall job picture. Increased stability in other New York City industries, however, could help soften the economic effects of such a...

This paper examines the linkage between economic activity and tax revenues for New York State and New York City. Drawing upon the methodology of Stock and Watson, we use a dynamic single-factor model to estimate indexes of coincident economic indicators. We also construct measures of the sales...

In addition to exacting a tremendous human toll, the September 11 attack on the World Trade Center caused billions of dollars in property damage and a temporary contraction in New York City's economy. This article explores the effect of these events on the longer run economic prospects for the...

The attack on the World Trade Center had an enormous financial, as well as emotional, impact on New York City. This article measures the short-term economic effects on the city's labor force and capital stock through June 2002, the end of the recovery process at the World Trade Center site....

The 2007 slowing in job growth in the New York - New Jersey region continued through August 2008. A projected weakening in the national economy through the end of 2008 combined with the market turmoil affecting New York City's finance sector suggests that the region will post substantially...

The New York-New Jersey region entered a pronounced downturn in 2008, but the pace of decline eased considerably in spring 2009 and then leveled off in July, according to three key Federal Reserve Bank of New York economic indexes. These developments, in conjunction with a growing consensus that...