For immediate release
Contact: Daneil Mazone, Media Relations Representative, 215-574-7163
Philadelphia — The Federal Reserve Bank of Philadelphia hosted a reception celebrating the grand opening of its Federal Statistical Research Data Center (FSRDC). The facility is the first of its kind in the Philadelphia area and provides researchers with access to some of the nation’s highest quality U.S. Census Bureau data for analysis of the U.S. economy and public policy issues.
A consortium of five research institutions — the Federal Reserve Bank of Philadelphia, Drexel University, the University of Pennsylvania, Temple University, and the Pennsylvania State University (PSU) — will operate and fund the Philadelphia center along with the existing FSRDC on PSU’s State College campus. The centers are part of a network of 29 FSRDCs around the country.
The FSRDC benefits the Third District — the area served by the Philadelphia Fed that includes eastern Pennsylvania, southern New Jersey, and Delaware — by facilitating research that allows policymakers to better understand economic conditions when designing policy. In addition, the center’s ability to attract and retain high-caliber researchers reinforces the area’s reputation as a hub for education and knowledge.
“The Philadelphia Fed is pleased to host the site of this data center that connects researchers to the millions of data points collected by the Census Bureau that allows them to do deeper dives into economic trends,” said Keith Sill, senior vice president and director of the Philadelphia Fed’s Real-Time Data Research Center.
FSRDCs are partnerships between federal statistical agencies and leading research institutions that provide qualified researchers with a secure environment in which to access restricted-use anonymized microdata from the Census Bureau, the Agency for Healthcare Research and Quality, the National Center for Health Statistics, and the Bureau of Labor Statistics. Because of the confidential nature of the data, the Census Bureau must review and approve requests for access to the FSRDC. The Census Bureau’s Mallick Hossain is administrator of the Philadelphia Fed’s FSRDC.
“FSRDC research projects are of great benefit to the Census Bureau’s statistical programs,” said Ron Jarmin, performing the nonexclusive functions and duties of the director of the U.S. Census Bureau. “This partnership supports our efforts to increase transparency and broaden the use of our statistical data. We are devoted to research-based innovation.”
Some examples of planned research at the Philadelphia FSRDC include an investigation into the link between increased trade exposure and the decline in entrepreneurship and the consequences for employment and productivity growth; and research on the effect of the federal Trade Adjustment Assistance training incentives on worker earnings.