Econ Focus (formerly Region Focus) is the economics magazine of the Federal Reserve Bank of Richmond. It covers economic issues affecting the Fifth Federal Reserve District and the nation and is published on a quarterly basis by the Bank's Research Department.
Over the past 60 years, various public policies have been aimed at increasing the number of homeowners in America. Yet economists worry that the subsidies to this sort of investment have led to some undesirable consequences. Has the United States invested too much in homeownership?
Baby Boomers and Second Home Ownership (Web Exclusive)
One of the most interesting debates in environmental economics pits supporters of a carbon tax against those who prefer a cap-and-trade policy. As the economists ponder, a coalition of Northeastern states is embarking on an experiment to create a market for carbon permits.
A quarter of venture-capital backed firms in the United States were founded by immigrants. Many of these are high-tech and engineering companies. The modern U.S. economy seems to be driven in large part by businesses started by newcomers.
|President's Message||Henry Thornton, Walter Bagehot, and the Modern Central Bank|
|Federal Reserve||Dollarization Explained||Related Links|
|Jargon Alert||Principal-Agent Problem|
|Research Spotlight||Microbanks: Subsidy Dependent or Self-Sufficient?||Related Links|
|Policy Update||Bidding Begins for Maryland "Racinos"||Related Links|
|Around the Fed||Lending During the Volcker Disinflation||Related Links|
|Short Takes||News from the District|
|Interview||Joseph Gyourko||Full Interview
|Economic History||Gold Among the 'Heels||Related Links|
|Book Review||Bringing Life to the Dismal Science||Related Links|
|District||District/State Economic Conditions|
|Opinion||Why the Great Depression Matters||Related Links|