Critics of the consumer price index--the most widely watched inflation measure--contend that it overstates inflation by as much as 1 percentage point a year. Some have argued that alternative indexes eliminate the CPI's upward bias and offer a more accurate reading of inflation levels. A closer...

This issue of Second District Highlights briefly examines several explanations that have been offered for the rise in unemployment in New York City from 1994 to 1997.

Over the past decade, the United States has gone from enjoying a small trade surplus with China to grappling with an enormous deficit. Just to keep the gap from expanding in 1997, U.S. exports to China would need to grow at an extraordinary rate--four times as fast as Chinese exports to the...

As banks, securities houses, and insurance companies offer increasingly similar services, how have their human resource needs changed? An analysis of survey data reveals that all three industries have come to rely more heavily on high-skilled labor; however, the educational and occupational...

As inflation rates in the United States decline, analysts are asking if there are economic reasons to hold the rates at levels above zero. A study of inflation's effects on the labor market suggests that low rates of inflation do help the economy to adjust to changes in labor supply and demand....

Modest employment is expected to continue through 1997, with the New York City metropolitan area creating the bulk of new jobs.

Charge-offs on credit card loans are rising sharply. While many analysts blame this trend on an expanding supply of credit cards, a closer look reveals the importance of two demand factors--wealth and the share of the population at peak borrowing age--in explaining the increase in bad debt.

The growth of "sweeps"--a banking practice in which depository institutions shift funds out of customer accounts subject to reserve requirements--has reduced the required balances held by banks in their accounts at the Federal Reserve. This development could lead to greater volatility in the...

Consumers and analysts remain wary about the economic prospects of the Second District. But is caution here simply becoming habit? True, there are some weak spots, but strong performance in the southern tier is pointing to a brighter economic future for the district.

New York's merchandise export performance has trailed the nation's for several years. The cause of this gap is not easy to identify: the state maintains a relatively healthy mix of customer markets, remains well represented in industries with strong foreign demand, and continues to enjoy...