Econ Focus

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.

Region Focus



Fall 2009

The Price is Right?

Featured Story

The Price is Right? Has the financial crisis provided a fatal blow to the efficient market hypothesis?

Some observers have argued that the financial crisis has disproven what has become known as the "efficient market hypothesis." But the conclusions of the hypothesis are more modest than its critics often suggest.
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Recessions and Entrepreneurship: Is necessity the mother of invention?

More than half of Fortune 500 firms were founded in recessions or bear markets. Well-known companies like Burger King, Hyatt, and Microsoft were either launched or conceived during a recession. Is there something special about economic hardship that spurs entrepreneurship?
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The Business of Higher Ed: Prices and costs of a college education

College sticker prices have outstripped inflation for three decades. That trend is likely to continue as long as demand remains strong and opportunities for institutions to increase their productivity are limited.
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Questions Grow Along with Ginnie's Portfolio

While the housing market struggles to recover, the Government National Mortgage Association's business is booming. Yet a large share of the mortgage-backed securities it guarantees is from loans insured by the Federal Housing Administration, which has experienced an increasing default rate in its portfolio.

Jalopy Economics: How to judge the success of "Cash for Clunkers"

The Cash for Clunkers program seemed quite popular. But did it really provide a robust boost to economic growth or did it simply spur vehicle consumption earlier rather than later?
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Department Article Additional Resources
President's Message The Importance of Financial Education
Upfront Economic News Across the Region
Federal Reserve The Evolution of Fed Independence Related Links
Jargon Alert Prisoner's Dilemma Related Links
Research Spotlight How Forecasts Can Influence the Present Related Links
Policy Update New Credit Card Rules Could Harm Some Related Links
Around the Fed Lending Standards and the Foreclosure Crisis Related Links
Interview George Kaufman Full Interview
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Economic History A Tale of Two Virginias Related Links
Book Review This Time is Different: Eight Centuries of Financial Folly
District Digest Economic Differences Between Rural and Metro Areas in the Fifth District
Opinion Why Efficiency Matters…Even if You Value Equality
Contact Us


Aaron Steelman
Publications Director
(804) 697-2658