The Topology of the Federal Funds Market.
November 7th, 2008 piotr zukowskiMorten L. Bech and Enghin Atalay. The Topology of the Federal Funds Market. Federal Reserve Bank of New York Staff Reports Staff Report Number 354, November 2008.
Morten L. Bech and Enghin Atalay. The Topology of the Federal Funds Market. Federal Reserve Bank of New York Staff Reports Staff Report Number 354, November 2008.
Several studies have shown that, ex-post, the issuance of Treasury Inflation-Protected Securities (TIPS) has cost U.S. taxpayers money. We propose that evaluations of the TIPS program be more comprehensive and focus on the ex-ante costs of TIPS issuance versus nominal Treasury issuance and, especially when these costs are negligible, the more difficult-to-measure benefits of the program. Our study finds that the ex-ante costs of TIPS issuance versus nominal Treasury issuance are currently about equal and that TIPS provide meaningful benefits to investors and policymakers.
Jason Bram, James Orr, and Rae Rosen. Employment in the New York - New Jersey Region: 2008 Review and Outlook. Federal Reserve Bank of New York Current Issues in Economics and Finance, Volume 14, Number 7, October 2008.
Gara M. Afonso and Hyun Song Shin. Systemic Risk and Liquidity in Payment Systems. Federal Reserve Bank of New York Staff Reports Staff Report Number 352, October 2008.
Jason Bram, James Orr, and Rae Rosen. Employment in the New York - New Jersey Region: 2008 Review and Outlook. Federal Reserve Bank of New York Current Issues in Economics and Finance, Volume 14, Number 7, October 2008.
Carlos Carvalho and Fernanda Nechio. Aggregation and the PPP Puzzle in a Sticky-Price Model. Federal Reserve Bank of New York Staff Reports Staff Report Number 351, October 2008.
Gara M. Afonso and Hyun Song Shin. Systemic Risk and Liquidity in Payment Systems. Federal Reserve Bank of New York Staff Reports Staff Report Number 352, October 2008.
The New York Fed today released Employment in the New York-New Jersey Region: 2008 Review and Outlook, the latest article in the series Second District Highlights.
The Empire State Manufacturing Survey indicates that conditions for New York manufacturers deteriorated significantly in October. The general business conditions index dropped 17 points to a record-low -24.6. The new orders index also fell to a record low, and the indexes for shipments, unfilled orders, and inventories all declined sharply. The prices paid index eased significantly, to its lowest level of the year, while the prices received index also fell, although less sharply. Employment indexes were negative. Future indexes declined markedly with exceptionally large declines in the future new orders and shipments indexes.
Fernando Ferreira, Joseph Gyourko, and Joseph Tracy. Housing Busts and Household Mobility. Federal Reserve Bank of New York Staff Reports Staff Report Number 350, October 2008.