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Author:Potter, Simon M. 

Speech
The Federal Reserve’s counterparty framework: past, present, and future

Remarks at the 2015 Roundtable on Treasury Markets and Debt Management, Federal Reserve Bank of New York, New York City.
Speech , Paper 188

Speech
Reducing the size of the Federal Reserve’s balance sheet: the benefits of moving gradually and predictably: remarks to the National Association of Securities Professionals, New York City

Remarks to the National Association of Securities Professionals, New York City.
Speech , Paper 262

Journal Article
Economic restructuring in New York State

When economic activity slows down, labor markets may undergo extensive structural change-the permanent reallocation of workers across industries. Job losses can be heavy, and creating new jobs and retraining displaced workers to fill them can take time. A high degree of restructuring may help to explain why New York State's most recent downturn persisted for well over two years. Subseries: Second District Highlights.
Current Issues in Economics and Finance , Volume 10 , Issue Jun

Journal Article
Liquidity effects of the events of September 11, 2001

Banks rely heavily on incoming payments from other banks to fund their own payments. The terrorist attacks of September 11, 2001, destroyed facilities in Lower Manhattan, leaving some banks unable to send payments through the Federal Reserve's Fedwire payments system. As a result, many banks received fewer payments than expected, causing unexpected shortfalls in banks' liquidity. These disruptions also made it harder for banks to redistribute balances across the banking system in a timely manner. In this article, the authors measure the payments responses of banks to the receipt of payments ...
Economic Policy Review , Volume 8 , Issue Nov , Pages 59-79

Speech
Recent developments in monetary policy implementation

Remarks before the Money Marketeers of New York University, New York City
Speech , Paper 127

Speech
Interest rate control during normalization

Remarks at the SIFMA Conference on Securities Financing Transactions, New York City.
Speech , Paper 145

Discussion Paper
Prospects for the U.S. Labor Market

The unemployment rate in the United States fell from 9.1 percent in the summer of 2011 to 8.3 percent in February. This decline, the largest six-month drop in the unemployment rate since 1984, has surprised many economic forecasters. The decline is even more surprising because recent real GDP growth appears to have been around trend at best, whereas in early 1984, growth was more than 7 percent. Our next six posts in Liberty Street Economics will discuss prospects for the U.S. labor market given this surprisingly quick decline in the unemployment rate. In this opening post, we outline some of ...
Liberty Street Economics , Paper 20120326

Report
Dynamic hierarchical factor models

This paper uses multi-level factor models to characterize within- and between-block variations as well as idiosyncratic noise in large dynamic panels. Block-level shocks are distinguished from genuinely common shocks, and the estimated block-level factors are easy to interpret. The framework achieves dimension reduction and yet explicitly allows for heterogeneity between blocks. The model is estimated using a Markov chain Monte-Carlo algorithm that takes into account the hierarchical structure of the factors. We organize a panel of 447 series into blocks according to the timing of data ...
Staff Reports , Paper 412

Speech
Challenges posed by the evolution of the Treasury market

Remarks at the 2015 Primary Dealer Meeting, New York City.
Speech , Paper 162

Speech
The role of best practices in supporting market integrity and effectiveness: remarks at the 2016 Primary Dealers Meeting, Federal Reserve Bank of New York, New York City

Remarks at the 2016 Primary Dealers Meeting, Federal Reserve Bank of New York, New York City.
Speech , Paper 217

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