Federal Reserve Bank of Philadelphia skip to footer About Us Our People Education Banking Careers Calendar of Events THE ECONOMY CONSUMER FINANCE COMMUNITY DEVELOPMENT SURVEYS & DATA Search PAYMENT SYSTEMS WORKING PAPER Dynamic Pricing of Credit Cards and the Effects of Regulation by Suting Hong Robert M. Hunt Konstantinos Serfes November 2021 WP 21-38 – We construct a two-period model of revolving credit with asymmetric information and adverse selection. MACROECONOMICS ARTICLE Can Workforce Demographics Affect the Broader Economy? Evidence of a Link in Japan 15 Nov ’21 Research in Focus – In recent decades, the composition of the Japanese workforce has skewed older. The authors measure how this aging labor pool has influenced the path of the broader economy. EVENT DEC 14 2021 Exploring the Anchor Economy 3:00 PM – 4:30 PM Online REAL-TIME DATA RESEARCH DATA GDPplus 24 Nov ’21 Measure of the quarter-over-quarter rate of growth of real output in continuously compounded annualized percentage points BANKING AND FINANCIAL MARKETS WORKING PAPER Should Central Banks Issue Digital Currency? by Daniel Sanches Todd Keister November 2021 WP 21-37 – We study how the introduction of central bank digital currency affects interest rates, the level of economic activity, and welfare in an environment where both central bank money and private bank deposits are used in exchange. WORKFORCE & ECONOMIC DEVELOPMENT BRIEF Reworked Series: A Conversation on an Inclusive Recovery for Workers September 2021 The Reworked series aims to change narratives, challenge conversations, and elevate ways that we can change work together to advance an equitable workforce recovery. Economic Growth & Mobility Project COVID-19 COVID-19 and the Philadelphia Fed Get the Philadelphia Fed’s latest information, resources, and research on the coronavirus pandemic's impact on businesses, households, and communities. CONSUMER CREDIT SPEECH Fintech and Financial Inclusion by Patrick T. Harker 16 Nov ’21 The Fifth Annual Fintech Conference | Virtual Event LATEST WORK SURVEY Third District Beige Book 01 Dec ’21 DATA Aruoba Term Structure of Inflation Expectations 30 Nov ’21 CHART Third Quarter 2021 MSA House Prices 30 Nov ’21 DATA GDPplus 24 Nov ’21 DATA Aruoba-Diebold-Scotti Business Conditions Index 24 Nov ’21 CHART October 2021 State Housing Permits 24 Nov ’21 INDICES State Coincident Indexes 24 Nov ’21 DATA November 2021 Nonmanufacturing Business Outlook Survey 23 Nov ’21 CHART October 2021 State Unemployment Rates 19 Nov ’21 CHART October 2021 State Employment Growth 19 Nov ’21 SURVEY November 2021 Manufacturing Business Outlook Survey 18 Nov ’21 SPEECH Fintech and Financial Inclusion Patrick T. Harker 16 Nov ’21 View All Work CONTACT US Ten Independence Mall Philadelphia, PA 19106 (215) 574-6000 Facebook Twitter Youtube LinkedIn Instagram PRIVACY NOTICE NEWSROOM SUBSCRIBE CONTACT Copyright 2021. All rights reserved. Federal Reserve Bank of Philadelphia