Working Paper
The Persistent Employment Effects of the 2006-09 U.S. Housing Wealth Collapse
Bhattarai, Saroj; Schwartzman, Felipe; Yang, Choongryul (2019-03-08)
We show that the housing wealth collapse of 2006-09 had a persistent impact on employment across counties in the U.S. In particular, localities that had a larger loss in housing net worth during that period had more depressed employment as late as 2016, without a commensurate population response. The use of IV's and controls to identify the causal impact of the wealth shock amplifies those results, leading to an estimate that a 10 percent change in housing net worth between 2006 and 2009 causes a 4.5 percent decline in local employment by 2016, as compared with a 2006 baseline. We do not find ...
Working Paper , Paper 19-7

Speech
Economic Outlook with a Focus on Regional Business Conditions
Athreya, Kartik B. (2025-02-13)
In-person presentation for the Economic Development Organization for the Town of Bethel, CT, delivered by Kartik Athreya, Director of Research and Head of the Research and Statistics Group, Federal Reserve Bank of New York.
Speech

Speech
Economic Conditions in New York State
Abel, Jaison R. (2025-02-19)
In-person presentation for the 2025 Economic Forecast & Building BC Awards for the Greater Binghamton Chamber of Commerce, delivered by Jaison Abel, Head of Microeconomics, Federal Reserve Bank of New York.
Speech