FEDERAL RESERVE BANK OF PHILADELPHIA RESEARCH FELLOWSHIP
As anchor institutions, our colleges and universities have significant impacts on our local and regional economies. According to the Anchor Economy Initiative at the Federal Reserve Bank of Philadelphia, higher education institutions and hospitals contribute $1.7 trillion in goods and services to the U.S. economy annually in both direct and indirect impacts. This fellowship explores the role of anchor institutions in economic and community development.
2023 CUMU–Federal Reserve Bank of Philadelphia Fellow
Josie Gatti Schafer, Ph.D., was named the 2023 CUMU-Philadelphia Fed Research Fellow. During the fellowship, Dr. Schafer, director of the Center for Public Affairs Research, University of Nebraska at Omaha, leveraged the Federal Reserve Bank of Philadelphia’s Anchor Economy Dashboard and U.S. Census Bureau data to explore and explain variations in the economic impact of higher education anchor institutions.
Anchor institutions always matter. But, how Much?
Presented by Deborah Diamond, director, Anchor Economy, Federal Reserve Bank of Philadelphia, and Josie Gatti Schafer, Ph.D., CUMU–Federal Reserve Bank of Philadelphia Research Fellow, this panel helps to answer the question: Do certain regions benefit more from their anchor institutions than others and, if so, why?
More about the CUMU–Philadelphia Fed Fellowship
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises state member banks, bank holding companies, and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.