The Economy

We produce and compile research and data on the overall economy, banking and financial markets. Our goal is to help financial institutions operate in a safe manner and support a robust U.S. financial system.



Drifts, Shifts, and Rifts: Exploring the Dynamics of Party Polarization

Research in Focus — Using their novel quantitative model, two Philadelphia Fed economists show the mechanisms by which party ideologies shift, shedding light on the influence of voters.

Aruoba-Diebold-Scotti Business Conditions Index

An index designed to track real business conditions at high observation frequency

Regional Economics

Working Paper

The Price of Housing in the United States, 1890–2006

WP 24-12 – This paper introduces new rental and home sales price series for the 20th century constructed from historical newspapers, and it explores the different rent and home price trajectories of cities across the United States.



What Explains the Great Resignation?

Economic Insights — It’s no surprise that quits rise in a tight labor market, but the scale of quits in 2021 came as a shock. We evaluate three explanations for what some call the Great Resignation.





Frontiers in Machine Learning and Economics: Methods and Applications – 2024

Federal Reserve Bank of Philadelphia

Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability

Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability tracks the rate at which U.S. workers transition from one employer to another in a given month.



The Evolving Structure of Housing Markets: Institutional Investors and Their Influential Role During the Great Recession

Research in Focus — A model of U.S. housing markets by Dick Oosthuizen illustrates how corporate investors helped mitigate price declines during a prolonged recession.