ECONOMY
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AI and the Labor Market: Will Firms Hire, Fire, or Retrain?
Jaison R. Abel, Richard Deitz, Natalia Emanuel, and Benjamin Hyman The rapid rise in Artificial Intelligence (AI) has the potential…
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Mortgage Lock-In Spurs Recent HELOC Demand
Andrew Haughwout, Donghoon Lee, Daniel Mangrum, Joelle W. Scally, and Wilbert van der Klaauw Mortgage balances, the largest component of…
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An Update on the Reservation Wages in the SCE Labor Market Survey
Gizem Kosar, Davide Melcangi, and Sasha Thomas The Federal Reserve Bank of New York’s July 2024 SCE Labor Market Survey…
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The Disparate Outcomes of Bank- and Nonbank-Financed Private Credit Expansions
Nina Boyarchenko and Leonardo Elias Long-run trends in increased access to credit are thought to improve real activity. However, “rapid”…
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When Are Central Bank Reserves Ample?
Gara Afonso, Domenico Giannone, Gabriele La Spada, and John C. Williams The Federal Reserve (Fed) implements monetary policy in a…
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A New Set of Indicators of Reserve Ampleness
Gara Afonso, Kevin Clark, Brian Gowen, Gabriele La Spada, JC Martinez, Jason Miu, and Will Riordan The Federal Reserve (Fed)…
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Reallocating Liquidity to Resolve a Crisis
Kinda Hachem Shortly after the collapse of Silicon Valley Bank (SVB) in March 2023, a consortium of eleven large U.S.…
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The Anatomy of Labor Demand Pre- and Post-COVID
Richard Audoly, Miles Guerin, Giorgio Topa, and Roshie Xing Has labor demand changed since the COVID-19 pandemic? In this post,…
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The DeFi Intermediation Chain – Liberty Street Economics
Pablo D. Azar, Adrian G. Casillas, and Maryam Farboodi Decentralized Finance, or DeFi, is a rapidly growing ecosystem of financial…
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Is the Recent Inflationary Spike a Global Phenomenon?
Martín Almuzara, Babur Kocaoglu, and Argia Sbordone In the aftermath of the COVID-19 pandemic, inflation rose almost simultaneously in most economies…
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