FEDS NotesPub Date : 2023-03-01DOI: 10.17016/2380-7172.3273
Michael M. Batty, E. Holmquist, Robert J. Kurtzman
{"title":"From-Whom-to-Whom Relationships in the Financial Accounts of the United States: A New Methodology and Some Early Results","authors":"Michael M. Batty, E. Holmquist, Robert J. Kurtzman","doi":"10.17016/2380-7172.3273","DOIUrl":"https://doi.org/10.17016/2380-7172.3273","url":null,"abstract":"The Financial Accounts of the United States (the Accounts or FAUS) provide data on the financial assets and liabilities of major sectors of the United States economy, disaggregated by financial instrument. The Accounts can thus serve many purposes, such as sizing sectors and instruments, analyzing changes in credit flows, and assessing the net worth of households.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134574224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-03-01DOI: 10.17016/2380-7172.3274
Brendan M. Price, M. Wasserman
{"title":"Gender Gaps in the Labor Market Widen Every Summer","authors":"Brendan M. Price, M. Wasserman","doi":"10.17016/2380-7172.3274","DOIUrl":"https://doi.org/10.17016/2380-7172.3274","url":null,"abstract":"Gender gaps in labor market activity are pervasive, longstanding, and a regular subject of policy debates. Relative to men, women tend to work fewer hours per week, more conventional hours, and fewer years over the course of their lives.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124216837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-02-01DOI: 10.17016/2380-7172.3246
Hess T. Chung, Etienne Gagnon, J. Hebden, Kyungmin Kim, Bernd Schlusche, E. Till, James Trevino, D. Vilán
{"title":"Balance Sheet Policies in an Evolving Economy: Some Modelling Advances and Illustrative Simulations","authors":"Hess T. Chung, Etienne Gagnon, J. Hebden, Kyungmin Kim, Bernd Schlusche, E. Till, James Trevino, D. Vilán","doi":"10.17016/2380-7172.3246","DOIUrl":"https://doi.org/10.17016/2380-7172.3246","url":null,"abstract":"Once considered \"unconventional,\" balance sheet policies have become an integral part of the toolkit of many central banks. Increased reliance on balance sheet policies reflects in part a decline in the neutral level of interest rates, which limits central banks' ability to cut their policy rates to support the economy during downturns, and many observers expect that neutral level to remain low relative to its historical average in the coming decades.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"56 31","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114006203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-02-01DOI: 10.17016/2380-7172.3256
Ryan A. Decker, Jacob Williams
{"title":"A note on industry concentration measurement","authors":"Ryan A. Decker, Jacob Williams","doi":"10.17016/2380-7172.3256","DOIUrl":"https://doi.org/10.17016/2380-7172.3256","url":null,"abstract":"Industry concentration—the share of sales or output accounted for by the largest firms within an industry—has received widespread attention recently, in part because concentration has generally risen in recent decades (figure 1). Measurement challenges are at the core of concentration-based inquiry: industry sales concentration is one of the lowest-frequency business statistics produced by the U.S. statistical agencies, with concentration data being released only twice per decade as part of the Economic Censuses.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"524 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124491662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-02-01DOI: 10.17016/2380-7172.3257
Paul E. Soto
{"title":"Measurement and Effects of Supply Chain Bottlenecks Using Natural Language Processing","authors":"Paul E. Soto","doi":"10.17016/2380-7172.3257","DOIUrl":"https://doi.org/10.17016/2380-7172.3257","url":null,"abstract":"Supply chain bottlenecks can have significant impacts on the real economy. When firms experience shortages, shipping delays, or shutdowns, as occurred during the COVID-19 pandemic, they may be unable to produce, transport, and sell their products.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129913567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-01-11DOI: 10.17016/2380-7172.3226
F. Cai, Grace Chuan, Kevin Henry, Chaehee Shin, Tugkan Tuzun
{"title":"New Insights from N-CEN: Liquidity Management at Open-End Funds and Primary Market Concentration of ETFs","authors":"F. Cai, Grace Chuan, Kevin Henry, Chaehee Shin, Tugkan Tuzun","doi":"10.17016/2380-7172.3226","DOIUrl":"https://doi.org/10.17016/2380-7172.3226","url":null,"abstract":"Structural vulnerabilities associated with open-end funds have received increasing attention among academics and regulators over the past few years. Despite the effort by policymakers to enhance the liquidity risk management practices at these funds, evaluating the availability, use and effectiveness of liquidity management tools continues to be a challenging task in assessing vulnerabilities in open-end funds, largely because comprehensive data on open-end funds' access to liquidity management tools remain scarce.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128562502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-01-01DOI: 10.17016/2380-7172.3242
Danilo Cascaldi-Garcia, Juan M. Londoño, B. Wilson
{"title":"The SNB-FRB-BIS High-Level Conference on Inflation Risk and Uncertainty","authors":"Danilo Cascaldi-Garcia, Juan M. Londoño, B. Wilson","doi":"10.17016/2380-7172.3242","DOIUrl":"https://doi.org/10.17016/2380-7172.3242","url":null,"abstract":"Uncertainty about inflation has risen considerably across the globe since the start of the COVID-19 pandemic. Lack of clarity about how far inflation might fall during the depths of the pandemic gave way to concerns about inflationary pressures as demand surged and supply was constrained throughout 2021.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129459264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2023-01-01DOI: 10.17016/2380-7172.3232
Danilo Cascaldi-Garcia, Musa Orak, Zina Saijid
{"title":"Drivers of Post-pandemic Inflation in Selected Advanced Economies and Implications for the Outlook","authors":"Danilo Cascaldi-Garcia, Musa Orak, Zina Saijid","doi":"10.17016/2380-7172.3232","DOIUrl":"https://doi.org/10.17016/2380-7172.3232","url":null,"abstract":"With the reopening of economies from strict COVID-19 lockdowns and the war-induced sharp increases in food, energy, and other commodity prices, headline inflation has surged globally, as shown for a few selected advanced economies by the black line in the left panel of figure 1. Core inflation (the dashed red line) has also risen sharply and has become increasingly persistent across these economies.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130503429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2022-12-01DOI: 10.17016/2380-7172.3238
Dario Caldara, F. Ferrante, A. Queraltó
{"title":"International Spillovers of Tighter Monetary Policy","authors":"Dario Caldara, F. Ferrante, A. Queraltó","doi":"10.17016/2380-7172.3238","DOIUrl":"https://doi.org/10.17016/2380-7172.3238","url":null,"abstract":"Central banks around the world are tightening monetary policy in response to a global surge in inflation not seen since the 1970s. This synchronization of global interest rate hikes and further increases expected by markets, illustrated in figure 1, have raised concerns about adverse international spillovers of tighter monetary policy.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121805376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
FEDS NotesPub Date : 2022-12-01DOI: 10.17016/2380-7172.3220
Thiago R. Teixeira Ferreira, Carolyn Davin
{"title":"Longer-Run Neutral Rates in Major Advanced Economies","authors":"Thiago R. Teixeira Ferreira, Carolyn Davin","doi":"10.17016/2380-7172.3220","DOIUrl":"https://doi.org/10.17016/2380-7172.3220","url":null,"abstract":"With major central banks in the process of tightening monetary policy aggressively, an important question is how far policy rates will rise and where they will settle in the longer run. One reference point often used to evaluate this question is the longer-run neutral policy rate—the policy rate consistent with economic activity at its longer-run potential and inflation at its target.","PeriodicalId":411218,"journal":{"name":"FEDS Notes","volume":"121 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115159553","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}