Article
Firm-Level Pay Policies and the Labor Market
Economic Insights — Most large firms have policies governing how they pay their workers. These policies play a role in one of macroeconomics’ biggest mysteries: wage rigidity.
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Presidential Search
15 Nov ’24
The Federal Reserve Bank of Philadelphia has initiated a nationwide search for its next President and CEO. Learn more about how we are ensuring an open, transparent, and inclusive search, get the latest information and news, and find out how you can be involved.
Report
How Americans Use Social Media for Financial Advice
Social media has become a popular source for financial advice. Surveys indicate that people, especially those in younger generations, are increasingly turning to social media platforms for advice on various financial topics, including budgeting, saving, and investing.(1)
The Economy
A source for Philadelphia Fed research, data, and perspectives on labor markets and economic opportunity.
Aruoba-Diebold-Scotti Business Conditions Index
28 Mar ’25
An index designed to track real business conditions at high observation frequency
Working Paper
Concentration in Mortgage Markets: GSE Exposure and Risk-Taking in Uncertain Times
WP 25-12 – When home prices threaten to decline, large investors may attempt to prop up prices by fostering new lending. We show this motive increased acquisitions of risky mortgages by the government-sponsored enterprises in the first half of 2007.
Working Paper
Measuring Climate Transition Risk at the Regional Level with an Application to Community Banks
WP 25-11 – We base our measure of U.S. climate transition risk on an estimate of an emissions tax’s effect on firm value, aggregated to the region. The size and geographic concentration of the effect depend on the tax’s pass-through to prices.