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
Capitalization as a Two-Part Tariff: The Equilibrium Structure of Housing Prices
WP 19-20/R – Housing is more expensive in desirable neighborhoods. But does the premium emerge at the extensive (per housing unit) or intensive (per living space) margin?
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
16 Oct '25
An index designed to track real business conditions at high observation frequency
Report
Monetary Policy Report: Using Rules for Benchmarking, September 2025
This special report highlights ongoing work to benchmark the stance of monetary policy using a range of policy rules that are widely employed in studies of monetary economics.
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
U.S. Dollar Dominance: A Blessing or a Curse?
Economic Insights — The U.S. dollar has been the dominant international currency for decades, much to the benefit of the U.S. economy. But with this dominance comes risks.
Event
Oct
3-4
2025
Frontiers in Machine Learning and Economics: Methods and Applications – 2025
The University of Chicago Booth School of Business | Chicago
Data
Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability
12 Sep '25
Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability tracks the rate at which U.S. workers transition from one employer to another in a given month.
Article
The Blending of Conventional and Unconventional Monetary Policies With “Inelastic” Asset Markets
19 Sep '25
Research in Focus — Joseph Abadi of the Philadelphia Fed creates a model to analyze how central bank interest rate policy and balance sheet adjustments transmit through “inelastic” asset markets.
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.