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Showing results 1 to 6 of approximately 6.
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Speech
The Federal Reserve’s Recent Actions to Support the Flow of Credit to Households and Businesses
Remarks before the Foreign Exchange Committee, Federal Reserve Bank of New York, New York City.
Working Paper
Credit access and relational contracts: An experiment testing informational and contractual frictions for Pakistani farmers
https://www.federalreserve.gov/econres/ifdp/credit-access-and-relational-contracts.htm
Economic Uncertainty, Rising Interest Rates Challenge Banks
Elevated funding costs and tightening credit markets point to the need for bankers and bank supervisors to remain vigilant.
Speech
Credit growth and economic activity after the Great Recession
Remarks at the Economic Press Briefing on Student Loans, Federal Reserve Bank of New York, New York City
Working Paper
Domestic Debt and Sovereign Defaults
This paper examines how domestic holdings of government debt affect sovereign default risk and government debt management. I develop a dynamic stochastic general equilibrium model with both external and domestic debt that endogenously generates output contraction upon default. Domestic holdings of government debt weaken investors' balance sheets and induce a contraction of credit and output upon default. I calibrate the model to the Argentinean economy and show that the model reproduces key empirical moments. Introducing domestic debt also yields relevant normative implications. While ...
Briefing
Introducing the Credit Market Sentiment Index
In a forthcoming paper, we develop a new signal-extraction statistical model to estimate a factor summarizing conditions in U.S. credit markets. The factor provides a real-time gauge of "sentiment" in credit markets, above and beyond that attributable to contemporaneous economic conditions. Fluctuations in the credit market sentiment factor are associated with strong asymmetric and nonlinear effects on economic activity, depending not only on the magnitude and sign of a credit market sentiment shock but also on the current economic conditions.