Student Loan Debt and Aggregate Consumption Growth

Although student debt service is undoubtedly a source of severe financial strain for some individuals, in this discussion we show that the direct effect of increased student debt service on aggregate consumption growth is likely small.

From Income to Consumption Inequality? Looking through the Lens of Motor Vehicle Purchases

In this note, we assess the pattern of consumption inequality using an alternative data source--namely, new motor vehicle purchases.

Household Debt-to-Income Ratios in the Enhanced Financial Accounts

Michael Ahn, Mike Batty, and Ralf R. Meisenzahl

This note describes new data on household debt-to-income ratios (DTI) that is being provided in interactive maps as part of the Enhanced Financial Accounts (EFA).

Fiscal implications of the Federal Reserve’s Balance Sheet Normalization

Michele Cavallo, Marco Del Negro (Federal Reserve Bank of New York), W. Scott Frame (Federal Reserve Bank of Atlanta), Jamie Grasing (University of Maryland), Benjamin Malin (Federal Reserve Bank of Minneapolis), and Carlo Rosa

This Note summarizes analysis conducted in our recent FEDS working paper that seeks to understand the fiscal implications of the Federal Reserve’s balance sheet normalization program.

Do national account statistics underestimate US real output growth?

Matteo Barigozzi (London School of Economics) and Matteo Luciani

In this note, we introduce a new estimate of GDO obtained from a Non-Stationary Dynamic Factor model estimated on a large dataset of US macroeconomic indicators.

Recent Trends in Small Business Lending and the Community Reinvestment Act

In this note, we analyze data on small business loan originations collected under the Community Reinvestment Act (CRA) to document heterogeneity in the recovery in small business lending since the financial crisis.

Disclaimer: FEDS Notes are articles in which Board economists offer their own views and present analysis on a range of topics in economics and finance. These articles are shorter and less technically oriented than FEDS Working Papers.

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Last Update: January 02, 2018