Regional Economics

Working Paper

The Price of Housing in the United States, 1890–2006

WP 24-12/R – This paper introduces new rental and home sales price series for the 20th century constructed from historical newspapers, and it explores the different rent and home price trajectories of cities across the United States.

Featured Work

Regional Economics

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?

Regional Economics

Working Paper

Can LLMs Credibly Transform the Creation of Panel Data from Diverse Historical Tables?

WP 25-28 – Multimodal LLMs are fast and cost effective at digitizing historical tables. Data from our LLM-based digitization pipeline achieve 98.6 percent fidelity and are statistically indistinguishable from manually digitized data.

Regional Economics

Working Paper

The Bronx Is Burning: Urban Disinvestment Effects of the Fair Access to Insurance Requirements

WP 25-16 – This study examines the consequences of FAIR plans in the 1960s and 1970s. Though meant to address insurance redlining, these plans unintentionally created moral hazard, leading to housing disinvestment and neighborhood change.

Featured Data

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Manufacturing Business Outlook Survey

Monthly survey of manufacturers in the Third District

Updated: 16 Oct '25

Map of the United States

State Leading Indexes

Six-month forecast of the coincident index for each of the 50 states

Updated: April 29, 2020

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COVID-19 Business Outlook Survey

Special survey (now monthly, previously weekly) of firms in the Third District

Updated: 23 Dec '20

November 2019 Map

State Coincident Indexes

Monthly index of general economic conditions for each of the 50 states

Updated: 24 Sep '25

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Nonmanufacturing Business Outlook Survey

Monthly survey of nonmanufacturing businesses in the Third District

Updated: 23 Sep '25

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Third District Beige Book

Qualitative assessment of economic conditions in the Third District released prior to each FOMC meeting

Updated: 15 Oct '25