Research Spotlight

Watch FOMC Rewind: What the Fed’s July 2020 Decision Means for You

Wednesday, August 5, 2020

The Research Department has launched a new way to help people understand the policy statements released after each Federal Open Market Committee meeting. The first videos include a chat about what goes into policy discussions and another about the July 2020 FOMC decision.

Check out the San Francisco Fed’s #FOMCrewind on Twitter, and read more about it in the SF Fed Blog.

In the Headlines: Petrosky-Nadeau Research Hits Washington Post Front Page

Friday, May 8, 2020

The chart tells the story: “Jobless Rate Soars to 14.7%, Worst Level since Great Depression.”

The front-page story in the Washington Post’s May 8 issue features a graphic from research by Nicolas Petrosky-Nadeau, FRB San Francisco, and coauthor Lu Zhang in their paper, “Unemployment Crises.” The Post notes that the authors analyze historical sources to estimate monthly unemployment rates back to 1890, about 70 years before the beginning of monthly observations from the Labor Department.

The article is forthcoming in the Journal of Monetary Economics.

Keeping an Eye on Daily News Sentiment

Tuesday, April 14, 2020

The Daily News Sentiment Index is available on the San Francisco Fed’s Research website. Featuring research by Adam Shapiro, Moritz Sudhof, and Dan Wilson, the index shows how economic sentiment has changed during the current pandemic and offers downloadable data back to 1980.

News sentiment data will be updated each week to show the past week’s daily sentiment numbers. Check the most recent update in our Indicators and Data section.

2020 Annual Conference on Macroeconomics and Monetary Policy – Canceled

Friday, March 6, 2020

The Federal Reserve Bank of San Francisco had hoped to host its Annual Conference on Macroeconomics and Monetary Policy on Friday, March 27, 2020. The conference brings together academic and central bank economists, financial market practitioners, and policymakers. Papers focus on macroeconomics broadly defined. Out of an abundance of caution due to the COVID-19 virus, this year’s conference has been canceled, but we are sharing the participant list and papers, which we hope will be of interest. Read more

The Finer Points of Cyclical and Acyclical Inflation

Friday, February 14, 2020

Distinguishing between items that change price with economic growth and those that are unaffected is one way to learn more about inflation. An update to the SF Fed’s Cyclical and Acyclical Core PCE Inflation measure uses a new method to improve such inflation data. Read more

In the Headlines: Jorda Research Featured in MarketWatch

Wednesday, November 27, 2019

“Opinion: This thorough study says which investments have done best since 1870”
By Howard Gold, MarketWatch, November 21.

Summarizing recent research by Òscar Jordà et al. in Quarterly Journal of Economics 34(3, August), Gold asks, “How well do the assets that people own perform over decades? The most recent effort to measure that … is titled “The Rate of Return on Everything: 1870-2015.” It tracks the total return of stocks, housing, Treasury bills and government bonds for 16 countries over that time and may be the most comprehensive data set on asset returns ever assembled.”

Based on FRB San Francisco Working Paper 2017-25

Quora Session Features Answers on Automation, Inflation, and More

Thursday, October 17, 2019

Is the global economy showing signs of growth or catastrophy? How can we mitigate the damage that automation may do to the workforce? How can economics be more accessible to the public? Why does the San Francisco Fed exist? Sylvain Leduc and Andrew Foerster answered these and other questions posed by the public during a recent Quora session.

Macroeconomics and Monetary Policy Conference: Call for Papers

Thursday, October 3, 2019

The Federal Reserve Bank of San Francisco will host its annual conference on macroeconomics and monetary policy on Friday, March 27, 2020.

We invite researchers to submit working papers by Friday, October 18. We prefer topics in the area of macroeconomics broadly defined that are relevant for monetary policy, which may involve related fields such as finance, labor economics, international economics, applied microeconomics, and public finance.

Read our Call for Papers for more information

Come Work with Us: Opening for Research Economist

Wednesday, September 18, 2019

The Research Department of the Federal Reserve Bank of San Francisco is looking to hire an experienced or new Ph.D. economist in the areas of Macroeconomics, Monetary Economics, Microeconomics, Labor Economics, International Economics, or Financial Economics. For all candidates, solid research achievement and potential are essential. All economists are expected to publish in top academic journals and be able to prepare high-level analysis for Bank policy briefings and publications. Excellent communication skills are required.

The Department provides an outstanding research environment and has a proven track record of producing highly cited work. Salary and benefits are competitive.

The application deadline is November 27, 2019. The Department plans to interview candidates at the ASSA Meetings in San Diego in January 2020. Apply now

“The Economics of Climate Change” conference set for November 8

Friday, September 6, 2019

The San Francisco Fed will host the conference “The Economics of Climate Change” (pdf, 104 kb) on November 8. Presentations will focus on new research examining the economic and financial implications of climate change.

This conference will bring together researchers from around the globe to discuss topics such as quantifying the climate risk faced by households, firms, and the financial system; measuring the economic costs and consequences of climate change; accounting for the effects of climate change on financial asset prices; and understanding the potential implications of climate change for monetary, supervisory, and trade policy.

Frank Elderson, member of the Governing Board of the Netherlands Central Bank and chair of the Network for Greening the Financial System, will deliver keynote remarks.

Conference attendance is by invitation only. Presentations will be livestreamed on the conference page.

SF Fed Visiting Scholar Nakamura Named 2019 Clark Medalist

Monday, May 20, 2019

The American Economic Association named Emi Nakamura the best young American economist for 2019. This John Bates Clark medalist contributes to the San Francisco Fed through her work as a visiting scholar in Economic Research. Photo provided by UC Berkeley. Read more