Recent Articles
New York’s Economy Trying to Heal From the COVID-19 Crisis
Fadime Demiralp and James Orr
October 31, 2020
Deep declines in employment across New York resulted from the efforts to contain the COVID-19 outbreak. Where does the economy stand? What factors will affect the recovery? We address these questions in this post. Read more
The Fed’s enlarged balance sheet: The Expanding Importance of Bank Reserves (Part II)
Fotis Siokis
September 30, 2020
With an enlarged balance sheet, what is the new operating regime of the Fed (or how does it conduct monetary policy) and what are its options? In this second post we address these questions. Read more
New York’s Employment Gains Slow Modestly in August
The number of jobs in New York State increased in August at a slightly slower pace than in July, and were boosted by the start of hiring for the 2020 census. The New York State Department of Labor reported that employment statewide increased by 153,300 (seasonally adjusted) in August
New York’s Employment Recovery Slows in July
The number of jobs in New York State increased in July but at a slower pace than in June, and the statewide unemployment rate ticked up. The New York State Department of Labor reported that employment statewide increased by 176,600 (seasonally adjusted) in July following an increase of 274,000
The Federal Reserve and its balance sheet: A Herculean task in mitigating the economic effects of the coronavirus pandemic (Part I)
Fotis Siokis
July 30, 2020
Global pandemic events in history, beyond death and destruction, have caused major economic fallout and collapses in international trade. Read more
New York’s Labor Market Steadies in May
By Jim Orr,
The New York State Department of Labor reported that employment statewide increased by 98,000 (seasonally adjusted) in May, a recovery of about 5.0 % of the nearly 2 million jobs lost in the March/April period. This gain was below the nationwide recovery in May of about 11.0
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
Europe unveiled $2 trillion stimulus to combat the Covid19 crisis
By Fotis Siokis,
As a great leap of solidarity, the European Commission unveiled on Wednesday, May 27th, the “Next Generation EU” recovery fund plan equal to $ 825 billion (€750 billion). Of this amount, nearly $ 550 billion will be in the form of grants and the rest will be made up