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Briefing
Discussing Data: Evaluating Data Quality
Data-driven organizations are becoming increasingly aware of data quality in order to mature their data activities. Data quality is of particular concern to research functions, but many existing frameworks are not well suited for use by researchers. This paper discusses existing data quality frameworks and focuses on one that meets the needs of research functions. A modified version of that framework is described along with details for use with a wide range of data.
Speech
Communicating a systematic monetary policy
Society of American Business Editors and Writers Fall Conference, City University of New York (CUNY) Graduate School of Journalism. New York, NY. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He also shares his thoughts about monetary policy and explains why he departed from the majority view at the July and September FOMC meetings.
Will Digital Wallets Replace Cash?
Dialogue with the Fed attendees hear about the opportunities and challenges involved with digital wallets like Venmo.
Briefing
Discussing Data: The Elevator Pitch
Researchers and custodians of data are often tasked with explaining their data to unfamiliar audiences. There exists a knowledge gap that can be challenging, particularly when attempting to communicate research that uses complex or less well-known data. This paper describes an “elevator pitch” that can be used to quickly and efficiently present core characteristics of data. Specifically, it outlines seven core characteristics that can be used to create such a pitch. Additionally, it provides examples of how this compact description can be integrated into research papers, presentations, or ...
Discussion Paper
Forecasting the COVID-19 Pandemic in the Fifth District
How many COVID-19 cases will there be in the coming days and months? While the Fifth District appears to be past the peak number of daily cases, a wide range of future outcomes is still possible.
What Types of Customer Data Do Fintech Firms Use?
Beyond cash flow and credit scores, technology-driven lenders have also looked at social media activity and phone ownership.
Working Paper
Data, Privacy Laws and Firm Production: Evidence from the GDPR
By regulating how firms collect, store, and use data, privacy laws may change the role of data in production and alter firm demand for information technology inputs. We study how firms respond to privacy laws in the context of the EU’s General Data Protection Regulation (GDPR) by using seven years of data from a large global cloud-computing provider. Our difference-in-difference estimates indicate that, in response to the GDPR, EU firms decreased data storage by 26% and data processing by 15% relative to comparable U.S. firms, becoming less “data-intensive.” To estimate the costs of the ...