Date Title Category
December 19, 2008 Economic Quarterly Explores New Keynesian Economics

In the latest issue of the Federal Reserve Bank of Richmond’s Economic Quarterly, Stephen Williamson of Washington University and a visiting scholar at the Bank evaluates the overall success of the New Keynesian project.

October 14, 2008 Region Focus

Richmond Fed publication explores the state of modern economics.

August 19, 2008 Richmond Fed's Economic Quarterly Examines the Evolution of U.S. Income Inequality

Income inequality in the United States has received considerable attention in recent policy debates. Richmond Fed economists Kevin A. Bryan and Leonardo Martinez find that income inequality has risen since the 1960s, and that this is explained mainly by increases in inequality at the top of the income distribution. In addition, they document periods characterized by a decline in real income for lower income groups. Bryan and Martinez also explain that welfare inequality may have increased less than income inequality and, in fact, may actually have decreased, due to changing trends in leisure consumption.

May 30, 2008 Richmond Fed Publication Explores the Private Equity Industry

The role of private equity firms—organizations that buy companies in order to reshape them and sell them later at a profit — is often misunderstood. Some buyouts and firms make splashy headlines, and credit market turmoil is prompting questions about whether this is the end of an era for private equity. The cover story of the latest Region Focus de-mystifies this industry and explores its importance in keeping the economy competitive.

May 14, 2008 Richmond Fed's Economic Quarterly Examines Whether Bank Supervisors Should Disclose Information About Their Banks

Bank supervisors gather important information on banks' balance sheet, operations, and management. This is information that is potentially valuable to investors, but neither the supervisors nor the banks are allowed to share it. Should such information be made public? Richmond Fed economist Edward S. Prescott examines whether public dissemination of this knowledge can actually have a negative effect on the ability of supervisors to collect it and therefore limit the effectiveness of supervision.

May 12, 2008 Richmond Fed's 2007 Annual Report Features Essay on Savings and Retirement

The Federal Reserve Bank of Richmond today released its 2007 Annual Report, which features the essay "Are We Saving Enough? Households and Retirement."

February 1, 2008 Richmond Fed Publication Explores the Reinvention of Downtowns

There was a time when downtowns were the center of economic life in nearly every American city. Those days are gone, but some downtowns are making a comeback. In the cover story of the latest Region Focus, a visit to the bustling, rejuvenated downtown in Greenville, S.C., reveals how city centers are reinventing themselves. The most successful have transformed into niche markets, catering to young professionals and empty nesters.

January 3, 2008 Richmond Fed's Economic Quarterly Evaluates How Well a Phillips Curve Accounts for the Changing Nature of Inflation in the United States

The Phillips curve has long been used to represent the tradeoff between inflation and economic activity. However, since the mid-1960s, many theorists have agreed that during periods of persistently high inflation, this model does not hold true. Has the U.S. economy become too complex for this economic model? Richmond Fed economist Andreas Hornstein examines a more contemporary model to determine if it can better reflect the changing nature of inflation in the United States.

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