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
Is Loan Volume Becoming Concentrated Among Too Few Online Mortgage Providers?
05 Dec ’23
Research in Focus — By studying a period of substantial regulatory change and technological innovation, three researchers identify shifts in market concentration within the U.S. mortgage market.
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
08 Dec ’23
An index designed to track real business conditions at high observation frequency
Working Paper
CMBS Market Evolution and Emerging Risks
WP 23-27 – We study the evolution of the private-label CMBS market from one dominated by broadly diversified long-term, fixed-rate conduit securitizations to one dominated in 2021–22 by undiversified short-term, floating-rate single-asset, single-borrower (SASB) securitizations.
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.
Article
Q&A: Julapa Jagtiani on Fintech
Our Seventh Annual Fintech Conference in September brought more than 1,500 leaders and experts together to discuss the latest issues and trends related to fintech. At the lead of this effort is Julapa Jagtiani, senior economic advisor and economist. Here, Jagtiani shares details on how the conference started and what lies ahead.
Event
Oct
19-20
2023
New Perspectives on Consumer Behavior in Credit and Payments Markets
Federal Reserve Bank of Philadelphia
Working Paper
Did Fintech Loans Default More During the COVID-19 Pandemic? Were Fintech Firms “Cream Skimming” the Best Borrowers?
WP 23-26 – A growing portion of consumer credit has recently been devoted to unsecured personal installment loans. Fintech firms have been active players in this market, with an increasing market share, while the market share of banks has declined.
Article
How Effective Are Place-Based Industrial Policies?
07 Nov ’23
Research in Focus — Enghin Atalay of the Philadelphia Fed and his coauthors study place-based subsidy programs, including their impact on reducing wage inequality between Turkey’s various provinces.
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.