Mobile Banking : A Closer Look at Survey Measures
This note presents new estimates of mobile banking use in 2017, as well as insights on types of users and their behaviors.
AUTHORS: Merry, Ellen A.
Confidence Interval Projections of the Federal Reserve Balance Sheet and Income
In response to the financial crisis of 2008 and the subsequent recession, the Federal Reserve employed large-scale asset purchases (LSAPs) and a maturity extension program (MEP) with the purpose of reducing longer-term interest rates, and thereby promoting more accommodative financial conditions at a time when the conventional monetary policy tool, the federal funds rate, was at its effective lower bound. In this note, we presented the implications for the Federal Reserve's balance sheet and income arising from a range of future potential macroeconomic outcomes.
AUTHORS: Ferris, Erin E. Syron; Kim, Soo Jeong; Schlusche, Bernd
Student Loans and Homeownership Trends
The increases in student loan debt and delinquencies over the past few years have raised concerns about whether heavy student loan debt burdens are making it more difficult for young households to become homeowners.
AUTHORS: Mezza, Alvaro A.; Sommer, Kamila; Sherlund, Shane M.
Credit Scores, Trust, and Stock Market Participation
Investments in stocks earn a substantially higher return than investment in safer assets in the long run, even after adjusting for risks in the stock market. However, not all households own stocks (Mankiw and Zeldes, 1991), and the share of U.S. households that invest in stocks has been much lower than the standard theory predicts--a phenomenon often referred to as the "participation puzzle."
AUTHORS: Bricker, Jesse; Li, Geng
Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization
This Note summarizes analysis conducted in our recent FEDS working paper that seeks to understand the fiscal implications of the Federal Reserve's balance sheet normalization program.
AUTHORS: Del Negro, Marco; Malin, Benjamin A.; Rosa, Carlo; Frame, W. Scott; Cavallo, Michele; Grasing, Jamie
The Increase in Wealth Concentration, 1989-2013
Wealth is highly concentrated in the United States, and top shares have been rising in recent decades, raising both normative and macroeconomic policy concerns.
AUTHORS: Bricker, Jesse; Henriques, Alice M.; Krimmel, Jacob; Sabelhaus, John
Why Boomerang? Debt, Access to Credit, and Parental Co-residence among Young Adults
A persistent media narrative from the Great Recession is the phenomenon of "boomerang" kids, that is, the rapid increase of young adults moving back in with their baby boomer parents. From a life-cycle perspective, boomerang kids may be delaying wealth-building, and they may be a strain on parental resources. From a macroeconomic perspective, increased rates of parental co-residence have important implications for the economy at large.
AUTHORS: Dettling, Lisa J.; Hsu, Joanne W.
Do People Leave Money on the Table? Evidence from Joint Mortgage Applications and the Minimum FICO Rule
There is mounting evidence that households make suboptimal savings and investment decisions. this note presents novel evidence that many mortgage borrowers appear to have failed to apply for mortgages that give the lowest interest rates.
AUTHORS: Yao, Vincent W.; Wu, Weifeng; Li, Geng
Job Reallocation and Unemployment in Equilibrium
Job reallocation in the U.S.--the sum of job creation and job destruction across employers--has been declining over several decades. This piece looks at the relationship between job reallocation and the long-run rate of unemployment ("LRU") both theoretically and empirically. In this piece I show how declines in job reallocation can coincide with higher or lower unemployment? the sign and magnitude of the relationship is ambiguous.
AUTHORS: Weingarden, Alison E.
Weekly Hours, Overtime, and Employment of Manufacturing Production Workers: Fluctuations over the Business Cycle
AUTHORS: Tito, Maria D.