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.
Working Paper
Evaluating Transportation Improvements Within Cities Using Quantitative Spatial Models
WP 26-13/R – Quantitative spatial models (QSMs) offer an economically and geographically realistic framework to evaluate the effects of transportation infrastructure within cities.
Working Paper
Can LLMs Credibly Transform the Creation of Panel Data from Diverse Historical Tables?
WP 25-28/R – Multimodal large language models (LLMs) offer the potential for a watershed change for the digitization of historical tables by enabling low-cost processing that is centered on domain expertise rather than technical skill.
Research
Our Research Department's high-quality academic and original research supports the Federal Open Market Committee (FOMC) and the Bank's leadership as they address economic, finance, and public policy issues.
Aruoba-Diebold-Scotti Business Conditions Index
12 Nov ’26
An index designed to track real business conditions at high observation frequency
Working Paper
Dynamic Individuals, Static Neighborhoods: Migration and Earnings Changes in Poor Neighborhoods
WP 26-53 – Why do poor neighborhoods stay poor?
COVID-19
COVID-19 and the Philadelphia Fed
Get the Philadelphia Fed’s latest information, resources, and research on the coronavirus pandemic's impact on businesses, households, and communities.
Event
Oct
9-10
2026
2026 Conference on Real-Time Data Analysis, Methods, and Applications
Federal Reserve Bank of Philadelphia
Working Paper
Social Insurance with Imperfect Eligibility Screening: Theory and Evidence from Pandemic UI
WP 26-52 – This paper studies social insurance with imperfect eligibility screening, focusing on unemployment insurance (UI) during its expansion in 2020 and 2021.
Article
The New Normal: Low Employment Growth in the U.S. Labor Market
Economic Insights — Employment growth has slowed considerably in the United States. After expanding by 120,000 per month during 2024, monthly payrolls grew on average by just 10,000 during 2025.
Research
Research Assistant Opportunities for College Graduates
Working as a research assistant at the Philadelphia Fed is a rewarding experience, whichever career path you ultimately choose to pursue.