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.

Robot welders working on an assembly line.



How the Policy-Induced Price of Industrial Robots Affects Labor Shares in National Income

Research in Focus – Lukasz Drozd of the Philadelphia Fed and his coauthors study the impact of modern automation on company-level labor shares in China.

June 2021 Nonmanufacturing Business Outlook Survey

A monthly survey of nonmanufacturers in the Third Federal Reserve District

Capital Buffers in a Quantitative Model of Banking Industry Dynamics

WP 21-24 – We develop a model of banking industry dynamics to study the quantitative impact of regulatory policies on bank risk taking and market structure as well as the feedback effect of market structure on the efficacy of policy.

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Working Paper

Measuring Employer-to-Employer Reallocation

WP 21-22 – We revisit the measurement of Employer-to-Employer (EE) transitions in the monthly Current Population Survey.

The Economy



Many of our economists conduct research in areas of macro- and microeconomics and regularly contribute to policy discussions. You can find out more about these economists and their work by clicking on the highlighted names below.