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Discussion Paper
Unintended Consequences in School Accountability Policies

Over the past two decades, state and federal education policies have tried to hold schools more accountable for educating their students. A common criticism of these policies is that they may induce schools to “game the system” with strategies such as excluding certain types of students from computation of school average test scores. In this post, based on our recent New York Fed staff report, “Vouchers, Responses, and the Test Taking Population: Regression Discontinuity Evidence from Florida,” we investigate whether Florida schools resorted to such strategic behavior in response to a ...
Liberty Street Economics , Paper 20111128

Discussion Paper
What Americans (Don’t) Know about Student Loan Collections

U.S. student debt has more than tripled since 2004, and at over $1 trillion is now substantially greater than both credit card and auto debt balances. There are substantial potential benefits to be gained from taking out a student loan to fund a college education, including higher earnings and lower unemployment rates for college grads. However, there are significant costs to having student debt: The loans frequently carry relatively high interest rates, delinquency is common and costly (involving potential late fees and collection fees), and the federal government has the power to garnish ...
Liberty Street Economics , Paper 20140605

Discussion Paper
Just Released: Press Briefing on Student Loan Borrowing and Repayment Trends, 2015

This morning, Jamie McAndrews, the Director of Research at the Federal Reserve Bank of New York, spoke to the press about the economic recovery, and his speech was followed by a special briefing by New York Fed economists on student loans. Here, we provide a short summary of the student loan briefing.
Liberty Street Economics , Paper 20150416

Discussion Paper
The Class of 2015 Might Have a Little Better Luck Finding a Good Job

With the college graduation season well under way, a new crop of freshly minted graduates is entering the job market and many bright young minds are hoping to land a good first job. It?'s no wonder if they are approaching the job hunt with some trepidation. For a number of years now, recent college graduates have been struggling to find good jobs. However, the labor market for college graduates is improving. After declining for nearly two years, openings for jobs requiring a college degree have picked up since last summer. Not only has this increase in the demand for educated workers ...
Liberty Street Economics , Paper 20150515

Discussion Paper
The Cost of College Continues to Climb

In the first of two posts, our bloggers examine the rising cost of college and whether getting a college degree is still ?worth it.? They update their 2014 study by estimating the cost of college in terms of both out-of-pocket expenses and opportunity costs. They find that the cost of college has increased sharply over the past several years as opportunity costs have increased, substantially owing to a rise in the wages of those without a college degree.
Liberty Street Economics , Paper 20190603

Discussion Paper
Despite Rising Costs, College Is Still a Good Investment

The steep increase in the cost of college has once again raised questions about whether college is ?worth it.? Our bloggers weigh the economic benefits of a bachelor?s degree against its cost to estimate the return on attending college. They find that although the rising cost of college appears to have eroded the value of a bachelor?s degree somewhat, college remains a good investment for most people who receive a degree.
Liberty Street Economics , Paper 20190605

Journal Article
Agriculture in a Global Economy

Similar to other segments of the economy, the agricultural sector is increasingly global. In some regions, the production of food and agricultural products has advanced well beyond what is required for consumption within that region. In other areas, agricultural production is more limited. The persistent gap between regions of excess and regions of scarcity has led to an increasing reliance on agricultural trade as global populations and incomes rise, but recent months have also pointed to increased uncertainty about the future of trade and implications for agriculture. Similarly, the ...
Economic Review , Issue Special Issue , Pages 1-96

Journal Article
Agricultural Cycles and Implications for the Near Term: Agricultural Symposium 2019

While several indicators suggest that a repeat of the 1980s farm crisis is unlikely, the length of the current agricultural downturn may take a toll.
Economic Review , Issue Special Issue 2019 , Pages 5-25

Journal Article
The “Normal” Normal: Supply and Demand Drivers over the Next 10 Years : Agricultural Symposium 2019

A growing population, evolving food and fuel consumption, and trade with China and other parts of the world will all influence U.S. agriculture over the next decade.
Economic Review , Issue Special Issue 2019 , Pages 27-49

Journal Article
Long-Run Uncertainties for U.S. Agriculture : Agricultural Symposium 2019

Changes in global food and fuel demand, the effects of climate change, and regional depletion of groundwater resources for irrigation create uncertainty for U.S. farmers.
Economic Review , Issue Special Issue 2019 , Pages 51-84

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