Research Articles

The Transformation of the Diacritic U.S. Banking System and the Advent of the Dominant Financial Institutions

June 24th, 2024|

Fotis Siokis
24 June 2024

Over the past forty years, the unique U.S. banking system has faced significant competitive challenges, in a rapidly changing technological environment, along with far-reaching regulatory reforms, ushering in an era of remarkable consolidation. In this post we outline the differences of the US Banking system compared to the other global banking systems, its transformation and how it evolved over the years. Read more

New York’s Employment Recovery: Almost There but Virus Effects Linger, New Issues Emerge

January 31st, 2024|

Gillian Fuchs and James Orr
January 31, 2024

Nearly four years after the onset of Covid-19 how is employment in New York City faring? In this post we outline the pattern of recovery of employment in the City and show how employment in different industries is evolving. Employment has just about reached its pre-pandemic level. Read more

Silicon Valley Bank failure explained

March 28th, 2023|

Fotis Siokis March 28,2023 On March 10, 2023 the American banking system suffered the second biggest bank collapse in its history. How did this happen? In this post we examine the reasons behind the collapse of Silicon Valley Bank

New York City’s Evolving Jobs Recovery

September 12th, 2022|

September 7, 2022 Overall employment in New York City has not fully recovered from the huge shock it took following the Covid-19 outbreak in early 2020. But looking across industries, both the depth of the downturn and pace of

Working Papers

Consumption Taxes, Income Taxes, and Revenue Sensitivity: States and the Great Recession

February 15th, 2018|Comments Off on Consumption Taxes, Income Taxes, and Revenue Sensitivity: States and the Great Recession

Published in Public Finance Review, 2017
Howard Chernick, Hunter College and Graduate Center, CUNY; and Cordelia Reimers, Hunter College and Graduate Center, CUNY

The major sources of state tax revenue are personal income taxes and taxes on consumption – general sales and gross receipts taxes and excise

The Economic Contribution of Unauthorized Workers: An Industry Analysis

October 19th, 2017|Comments Off on The Economic Contribution of Unauthorized Workers: An Industry Analysis

Ryan Edwards, Queens College, CUNY; Francesc Ortega, Queens College, CUNY

The article provides a quantitative assessment of the economic contribution of unauthorized workers to the US economy and the potential gains from legalizing their situation. The study shows that the economic contribution of these workers to

Export Growth and Aggregate Dynamics in Large Devaluations

August 22nd, 2017|Comments Off on Export Growth and Aggregate Dynamics in Large Devaluations

George Alessandria, University of Rochester and NBER; Sangeeta Pratap, Hunter College and the Graduate Center, CUNY; Vivian Yue, Emory University, Federal Reserve Bank of Atlanta and NBER
May 2015

Why do exports not increase immediately after an exchange rate devaluation? This is an important question, because export

Policy Briefs

The Pandemic and the Emerging Markets Crisis: How Fragile are the Economies?

June 11th, 2020|Comments Off on The Pandemic and the Emerging Markets Crisis: How Fragile are the Economies?

Utku Demir and Merih Uctum 
June 11, 2020

The Emerging Market (EM) economies that came out of the 2008 financial crisis relatively faster than advanced economies are hard hit by a quadruple-whammy this time: the pandemic, capital outflows, economic recession, and debt crisis.Read more

Unconventional Monetary Policies Become Conventional After All?

October 21st, 2019|Comments Off on Unconventional Monetary Policies Become Conventional After All?

Fotios Siokis
October 21, 2019

What are unconventional monetary policies? How are they implemented in the European Union? What does the future look like? In this article we address these questions. On September 12,2019, the President of the European Central Bank (ECB) announced a new monetary stimulus package... Read more

Policy Briefs

The Transformation of the Diacritic U.S. Banking System and the Advent of the Dominant Financial Institutions

June 24th, 2024|Comments Off on The Transformation of the Diacritic U.S. Banking System and the Advent of the Dominant Financial Institutions

Fotis Siokis
24 June 2024

Over the past forty years, the unique U.S. banking system has faced significant competitive challenges, in a rapidly changing technological environment, along with far-reaching regulatory reforms, ushering in an era of remarkable consolidation. In this post we outline the differences of the US Banking system compared to the other global banking systems, its transformation and how it evolved over the years. Read more

New York’s Employment Recovery: Almost There but Virus Effects Linger, New Issues Emerge

January 31st, 2024|Comments Off on New York’s Employment Recovery: Almost There but Virus Effects Linger, New Issues Emerge

Gillian Fuchs and James Orr
January 31, 2024

Nearly four years after the onset of Covid-19 how is employment in New York City faring? In this post we outline the pattern of recovery of employment in the City and show how employment in different industries is evolving. Employment has just about reached its pre-pandemic level. Read more

Research Articles