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.
Featured Work
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.
Working Paper
The Value of Piped Water and Sewers: Evidence from 19th Century Chicago
WP 25-07 – The value of land doubled when sewer and water lines were installed in 19th century Chicago. The aggregate increase in land values exceeded the cost of installing sewer and water by a factor of 60.
Workforce & Economic Development
Article
Regional Spotlight: Technology vs. the Middle Class
Economic Insights — Thanks in part to technological change, many midwage occupations have vanished over the last 50 years. Are there lessons we can learn from this period that will help us in the age of AI?
Featured Data
Manufacturing Business Outlook Survey
Monthly survey of manufacturers in the Third District
Updated: 18 Sep ’25
State Leading Indexes
Six-month forecast of the coincident index for each of the 50 states
Updated: April 29, 2020
COVID-19 Business Outlook Survey
Special survey (now monthly, previously weekly) of firms in the Third District
Updated: 23 Dec ’20
State Coincident Indexes
Monthly index of general economic conditions for each of the 50 states
Updated: 24 Sep ’25
Nonmanufacturing Business Outlook Survey
Monthly survey of nonmanufacturing businesses in the Third District
Updated: 23 Sep ’25
Third District Beige Book
Qualitative assessment of economic conditions in the Third District released prior to each FOMC meeting
Updated: 03 Sep ’25