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Second District update: a moderate recovery is in progress


  • Rae Rosen
  • John Wenninger


After a prolonged recession, the Second District's economy began to expand in the second half of 1993. Several indicators—the growing volume of exports from the region, strong earnings on Wall Street, and job growth at newly formed businesses—suggest that the recovery can be sustained in the quarters immediately ahead. In a supplemental analysis, the authors find that new small firms are the primary source of job generation in New York State, although they note that such firms also carry a higher risk of failure.

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  • Rae Rosen & John Wenninger, 1994. "Second District update: a moderate recovery is in progress," Quarterly Review, Federal Reserve Bank of New York, issue Spr, pages 45-53.
  • Handle: RePEc:fip:fednqr:y:1994:i:spr:p:45-53:n:v.19no.1

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    References listed on IDEAS

    1. Roger S. Smith, 1990. "Factors Affecting Saving, Policy Tools, and Tax Reform: A Review," IMF Staff Papers, Palgrave Macmillan, vol. 37(1), pages 1-70, March.
    2. Steven F. Venti & David A. Wise, 1990. "Have IRAs Increased U. S. Saving?: Evidence from Consumer Expenditure Surveys," The Quarterly Journal of Economics, Oxford University Press, vol. 105(3), pages 661-698.
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    Federal Reserve District; 2nd;


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