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.
Article
Over a Century of Housing Prices, All in One Place
Economic Insights — Our Historical Housing Prices Project charts changing prices in major U.S. cities since 1890.
Working Paper
Spreading Out Across Expanding Idea Space
WP 26-39 – Over nearly two centuries, U.S. inventions have become increasingly dissimilar: not just fewer head-to-head collisions between inventors, but growing distance between neighboring inventions.
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
07 Aug ’26
An index designed to track real business conditions at high observation frequency
Working Paper
ForeComp: An R Package for Comparing Predictive Accuracy Using Fixed-Smoothing Asymptotics
WP 26-38 – We introduce ForeComp, an R package for comparing predictive accuracy using Diebold–Mariano type tests of equal predictive ability with standard and fixed-smoothing inference.
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
Testing for Endogeneity: A Moment-Based Bayesian Approach
WP 24-19/R – A standard assumption in the Bayesian estimation of linear regression models is that the regressors are exogenous in the sense that they are uncorrelated with the model error term. In practice, however, this assumption can be invalid.
Working Paper
Inference Based on Scale, Label, and Economic Restrictions
WP 26-36 – The results of nearly 100 prominent studies in empirical macroeconomics have been called into question by Baumeister and Hamilton (2018).
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.