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Persistent link: https://www.econbiz.de/10013170104
[...]We observe several trends in payment timing from 1998 to2006. After 2000, the peak in payment activity shifts to laterin the day. Indeed, post-2000, a greater concentration ofpayments occurs after 17:00. At the same time, however, severalfactors have been associated with increased payment...
Persistent link: https://www.econbiz.de/10005869405
We study the behavior of U.S. consumers' inflation expectations during the high inflation period of 2021-22 using data from the Survey of Consumer Expectations. Short- and, to a lesser extent, mediumterm inflation expectations rose as inflation surged in 2021. Disagreement and uncertainty about...
Persistent link: https://www.econbiz.de/10014302759
A core responsibility of a central bank is to ensure financial stability by acting as the "lender of last resort" through its Discount Window. The Discount Window, however, has not been effective because its usage is stigmatized. In this paper, we study experimentally how such stigma can be...
Persistent link: https://www.econbiz.de/10014581858
Understanding the formation of consumer inflation expectations is considered crucial for managing monetary policy. This paper investigates how consumers form and update their inflation expectations using a unique information experiment embedded in a survey. We first elicit respondents'...
Persistent link: https://www.econbiz.de/10010333055
To conduct academic research on the federal funds (fed funds) market, historically one of the most important financial markets in the U.S., some empirical economists have used market level measures published by the Markets Group at the Federal Reserve Bank of New York (FRBNY). To obtain more...
Persistent link: https://www.econbiz.de/10010333584
During the Great Recession, the Federal Reserve implemented several novel programs to address adverse conditions in financial markets. Three of these temporary programs relied on an auction mechanism: the Term Auction Facility, the Term Securities Lending Facility, and the disposition of the...
Persistent link: https://www.econbiz.de/10010333622
The proposed 2008 TARP auction was intended to facilitate rapid purchases by the U.S. department of Treasury of a wide array of mortgage-backed securities in order to remove these “toxic assets” from the portfolios of financially stressed banks. The Treasury had selected a Reference Price...
Persistent link: https://www.econbiz.de/10009450290
This report presents an overview of the Survey of Consumer Expectations, a new monthly online survey of a rotating panel of household heads. The survey collects timely information on consumers' expectations and decisions on a broad variety of topics, including but not limited to inflation,...
Persistent link: https://www.econbiz.de/10011796443
We propose a new approach to assessing the anchoring of inflation expectations using "strategic surveys". Namely, we measure households' revisions in long-run inflation expectations after they are presented with different economic scenarios. A key advantage of this approach is that it provides a...
Persistent link: https://www.econbiz.de/10013330022