Economic Brief - Archives - Federal Reserve Bank of Richmond

2018 11

November 2018, No. 18-11

The Differing Effects of the Business Cycle on Small and Large Banks

Borys Grochulski, Daniel Schwam, Aaron Steelman and Yuzhe Zhang

October 2018, No. 18-10

Inequality in and across Cities

Jessie Romero and Felipe F. Schwartzman

September 2018, No. 18-09

How Likely Is a Return to the Zero Lower Bound?

Thomas A. Lubik, Christian Matthes and David A. Price

August 2018, No. 18-08

The Impact of Higher Temperatures on Economic Growth

Riccardo Colacito, Bridget Hoffmann, Toan Phan and Tim Sablik

July 2018, No. 18-07

Slowing Growth in Educational Attainment

Urvi Neelakantan and Jessie Romero

June 2018, No. 18-06

Assessing Large Financial Firm Resolvability

Renee Haltom, Arantxa Jarque and John R. Walter

May 2018, No. 18-05

Estimating Aggregate Fiscal Multipliers from Local Data

Bill Dupor, Marios Karabarbounis, Marianna Kudlyak, M. Saif Mehkari and David A. Price

April 2018, No. 18-04

The Roots of ‘Bubbly’ Recessions

Helen Fessenden and Toan Phan

March 2018, No. 18-03

Preventing Bank Runs

Renee Haltom and Bruno Sultanum

February 2018, No. 18-02

How Does Family Structure during Childhood Affect College Preparedness and Completion?

Adam Blandin, Christopher Herrington and Aaron Steelman

January 2018, No. 18-01

Unauthorized Immigration: Evaluating the Effects and Policy Responses

Santiago Pinto and Tim Sablik
2017 12

December 2017, No. 17-12

Transitioning from High School to College: Differences across Virginia

Emily E. Cook, Jessie Romero and Sarah Turner

November 2017, No. 17-11

Can We Tax Social Security Benefits More Efficiently?

Helen Fessenden and John Bailey Jones

October 2017, No. 17-10

Should We Worry about Trade Imbalances?

Thomas A. Lubik and Tim Sablik

September 2017, No. 17-09

Are the Effects of Fiscal Policy Asymmetric?

Regis Barnichon, Christian Matthes and David A. Price

August 2017, No. 17-08

Understanding the Surge in Commercial Real Estate Lending

Helen Fessenden and Catherine Muething

July 2017, No. 17-07

Responding to Urban Decline

Santiago Pinto and Tim Sablik

June 2017, No. 17-06

Does the Fed Have a Financial Stability Mandate?

Renee Haltom and John A. Weinberg

May 2017, No. 17-05

Medical Spending in Old Age

John Bailey Jones and Jessie Romero

April 2017, No. 17-04

What Two Billion Retail Transactions Reveal about Consumers’ Choice of Payments

David A. Price, Zhu Wang and Alexander L. Wolman

March 2017, No. 17-03

Are the Effects of Monetary Policy Asymmetric?

Regis Barnichon, Christian Matthes and Tim Sablik

February 2017, No. 17-02

How Couples Approach Portfolio Allocation

Helen Fessenden, Nika Lazaryan and Urvi Neelakantan

January 2017, No. 17-01

Does Redistribution Increase Output?

Kartik B. Athreya, Andrew Owens, Jessie Romero and Felipe F. Schwartzman
2016 12

December 2016, No. 16-12

The Role of Central Bank Lending in the Conduct of Monetary Policy

Huberto M. Ennis and John A. Weinberg

November 2016, No. 16-11

The Burns Disinflation of 1974

Thomas A. Lubik, Christian Matthes and Tim Sablik

October 2016, No. 16-10

Assessing the Effect of the Affordable Care Act on Part-Time Employment

Andreas Hornstein and David A. Price

September 2016, No. 16-09

How Did Short-Term Market Rates React to Liftoff?

Renee Haltom and Alexander L. Wolman

August 2016, No. 16-08

Whom Do the Federal Reserve Bank Boards Serve?

Helen Fessenden and Gary Richardson

July 2016, No. 16-07

A "New Normal"? The Prospects for Long-Term Growth in the United States

Aaron Steelman and John A. Weinberg

June 2016, No. 16-06

Using Inventories to Help Explain Post-1984 Business Cycles

Thomas A. Lubik, Karl Rhodes, Pierre-Daniel G. Sarte and Felipe F. Schwartzman

May 2016, No. 16-05

Do Net Interest Margins and Interest Rates Move Together?

Huberto M. Ennis, Helen Fessenden and John R. Walter

April 2016, No. 16-04

The Role of Option Value in College Decisions

Jessie Romero and Nicholas Trachter

March 2016, No. 16-3

Measuring CEO Compensation

Arantxa Jarque and David A. Price

February 2016, No. 16-02

The Cost of Fed Membership

Helen Fessenden and Gary Richardson

January 2016, No. 16-01

Understanding the New Liquidity Coverage Ratio Requirements

Mark House, Tim Sablik and John R. Walter
2015 12

December 2015, No. 15-12

Did the Durbin Amendment Reduce Merchant Costs? Evidence from Survey Results

Renee Haltom and Zhu Wang

November 2015, No. 15-11

Why Are Women Leaving the Labor Force?

Maria E. Canon, Helen Fessenden and Marianna Kudlyak

October 2015, No. 15-10

Calculating the Natural Rate of Interest: A Comparison of Two Alternative Approaches

Thomas A. Lubik and Christian Matthes

September 2015, No. 15-09

Inflation Targeting: Could Bad Luck Explain Persistent One-Sided Misses?

Andreas Hornstein, Joe Johnson and Karl Rhodes

August 2015, No. 15-08

Living Wills for Systemically Important Financial Institutions: Some Expected Benefits and Challenges

Arantxa Jarque and David A. Price

July 2015, No. 15-07

Buyers' Ability and Willingness to Shop Around: An Explanation for Price Dispersion

Karl Rhodes and Nicholas Trachter

June 2015, No. 15-06

Did Banking Reforms of the Early 1990s Fail? Lessons from Comparing Two Banking Crises

Eliana Balla, Helen Fessenden, Edward S. Prescott and John R. Walter

May 2015, No. 15-05

Discount Window Lending: Policy Trade-offs and the 1985 BoNY Computer Failure

Huberto M. Ennis and David A. Price

April 2015, No. 15-04

Nominal GDP: Target or Benchmark?

Robert L. Hetzel

March 2015, No. 15-03

Explaining the Decline in the Number of Banks since the Great Recession

Roisin McCord, Edward S. Prescott and Tim Sablik

February 2015, No. 15-02

How Should the Fed Interpret Slow Wage Growth?

Marianna Kudlyak, Thomas A. Lubik and Karl Rhodes

January 2015, No. 15-01

Why Does the Fed Study Regional Economics?

Ann Battle Macheras, Santiago Pinto, Jessie Romero and Pierre-Daniel G. Sarte
2014 12

December 2014, No. 14-12

Understanding Market Failure in the 2007-08 Crisis

Borys Grochulski and Wendy Morrison

November 2014, No. 14-11

Does Enforcement of Employee Noncompete Agreements Impede the Development of Industry Clusters?

David A. Price

October 2014, No. 14-10

Investing over the Life Cycle: One Size Doesn't Fit All

Tim Sablik

September 2014, No. 14-09

Putting the Beveridge Curve Back to Work

Thomas A. Lubik and Karl Rhodes

August 2014, No. 14-08

The Prevalence of Apprenticeships in Germany and the United States

Nika Lazaryan, Urvi Neelakantan and David A. Price

July 2014, No. 14-07

Should the Fed Do Emergency Lending?

Renee Haltom and Jeffrey M. Lacker

June 2014, No. 14-06

Does the Unemployment Rate Really Overstate Labor Market Recovery?

Andreas Hornstein, Marianna Kudlyak, Fabian Lange and Tim Sablik

May 2014, No. 14-05

Expanding the Scope of Workforce Development

Kartik B. Athreya, Urvi Neelakantan and Jessie Romero

April 2014, No. 14-04

The First Time the Fed Bought GSE Debt

Renee Haltom and Robert Sharp

March 2014, No. 14-03

The Richmond Fed Manufacturing and Service Sector Surveys: A User's Guide

David A. Price and Aileen Watson

February 2014, No. 14-02

Reforming Money Market Mutual Funds: A Difficult Assignment

Huberto M. Ennis and Renee Haltom

January 2014, No. 14-01

Learning about Fiscal Policy Uncertainty

Christian Matthes and Tim Sablik
2013 12

December 2013, No. 13-12

How Risky Are Young Borrowers?

Peter Debbaut, Andra C. Ghent, Marianna Kudlyak and Jessie Romero

November 2013, No. 13-11

Assessing the Risks of Mortgage REITs

Sabrina R. Pellerin, David A. Price, Steven Sabol and John R. Walter

October 2013, No. 13-10

Welfare Analysis of Debit Card Interchange Fee Regulation

Tim Sablik and Zhu Wang

September 2013, No. 13-09

Is Fiscal Austerity Good for the Economy?

Renee Haltom and Thomas A. Lubik

August 2013, No. 13-08

Will a Surge in Labor Force Participation Impede Unemployment Rate Improvement?

Andreas Hornstein and Karl Rhodes

July 2013, No. 13-07

Land of Opportunity? Economic Mobility in the United States

Kartik B. Athreya and Jessie Romero

June 2013, No. 13-06

Implications of Risks and Rewards in College Decisions

Kartik B. Athreya and David A. Price

May 2013, No. 13-05

Does Money Still Matter for Monetary Policy?

Renee Haltom

April 2013, No. 13-04

Job Search Behavior: Lessons from Online Job Search

Marianna Kudlyak and Jessie Romero

March 2013, No. 13-03

Fed Credit Policy during the Great Depression

Tim Sablik

February 2013, No. 13-02

Why Do Debit Card Networks Charge Percentage Fees?

David A. Price and Zhu Wang

January 2013, No. 13-01

All Mortgages Are Not Created Equal

Karl Rhodes and Breck Robinson
2012 12

December 2012, No. 12-12

A Citizen's Guide to Unconventional Monetary Policy

Renee Haltom and Alexander L. Wolman

November 2012, No. 12-11

Are Depression-Era Employment Swings Overstated?

Jonathon Lecznar, Jessie Romero and Pierre-Daniel G. Sarte

October 2012, No. 12-10

Explaining an Industry Cluster: The Case of U.S. Car Makers from 1895-1969

David A. Price and Zhu Wang

September 2012, No. 12-09

Can Orderly Liquidation Solve the Problems of Bailouts and Bankruptcies?

Betty Joyce Nash, Sabrina R. Pellerin and John R. Walter

August 2012, No. 12-08

TARGET2: Symptom, Not Cause, of Eurozone Woes

Thomas A. Lubik and Karl Rhodes

July 2012, No. 12-07

Unsustainable Fiscal Policy: Implications for Monetary Policy

Renee Haltom and John A. Weinberg

June 2012, No. 12-06

The Increased Role of Flows Between Nonparticipation and Unemployment During the Great Recession and Recovery

Marianna Kudlyak and David A. Price

May 2012, No. 12-05

Microenterprise and the Small-Dollar Loan Market

Tammie Hoy, Jessie Romero and Kimberly Zeuli

April 2012, No. 12-04

The Spice of Life: Allowing for Heterogeneity in Macro Models

Kartik B. Athreya and Renee Haltom

March 2012, No. 12-03

Loan Loss Reserve Accounting and Bank Behavior

Eliana Balla, Morgan J. Rose and Jessie Romero

February 2012, No. 12-02

Experimenting with Contingent Capital Triggers

Edward S. Prescott and David A. Price

January 2012, No. 12-01

Where Are Households in the Deleveraging Cycle?

R. Andrew Bauer and Betty Joyce Nash
2011 12

December 2011, No. 11-12

The Federal Reserve's "Dual Mandate": The Evolution of an Idea

Aaron Steelman

November 2011, No. 11-11

Recoveries From Recessions Associated With Banking Crises: How Does This One Compare?

Juan Carlos Hatchondo, David A. Price and Jonathan Tompkins

October 2011, No. 11-10

Fifth District Manufacturing and the Recession: An Analysis of Subsector Performance

Robert Schnorbus and Judy Cox

September 2011, No. 11-09

Potential Causes and Implications of the Rise in Long-Term Unemployment

Andreas Hornstein, Thomas A. Lubik and Jessie Romero

August 2011, No. 11-08

Is Stimulative Fiscal Policy More Effective at the Zero Lower Bound?

Renee Haltom and Pierre-Daniel G. Sarte

July 2011, No. 11-07

Monetary Policy with Unknown Natural Rates

Thomas A. Lubik and Jessie Romero

June 2011, No. 11-06

Basel III and the Continuing Evolution of Bank Capital Regulation

Huberto M. Ennis and David A. Price

May 2011, No. 11-05

The Role of Interchange Fees on Debit and Credit Card Transactions in the Payments System

Tim Mead, Renee Haltom and Margaretta Blackwell

April 2011, No. 11-04

Identifying Systemically Important Financial Institutions

David A. Price and John R. Walter

March 2011, No. 11-03

The Earned Income Tax Credit: Recipients, Labor Force Participation, and Credit Constraints

Kartik B. Athreya and Aaron Steelman

February 2011, No. 11-02

Small Business Lending During the Recession

Betty Joyce Nash and Kimberly Zeuli

January 2011, No. 11-01

How Might the Fed's Large-Scale Asset Purchases Lower Long-Term Interest Rates?

Renee Haltom and Juan Carlos Hatchondo
2010 12

December 2010, No. 10-12

The Service Sector and the "Great Recession"

Robert Schnorbus and Aileen Watson

November 2010, No. 10-11

What Trends Exist in Regional Housing Market Data?

Renee Haltom and Pierre-Daniel G. Sarte

October 2010, No. 10-10

The Responses of Small and Large Firms to Tight Credit Shocks: The Case of 2008 through the Lens of Gertler and Gilchrist (1994)

Marianna Kudlyak, David A. Price and Juan M. Sanchez

September 2010, No. 10-09

The Effects of Local Demographic Characteristics and State-Level Legislation on Foreclosure Rates

Ross Lawrence and Brent C Smith

August 2010, No. 10-08

When Did the Recession End?

Renee Haltom

July 2010, No. 10-07

How Useful Are Consumer Surveys as Macroeconomic Indicators?

Roy H. Webb

June 2010, No. 10-06

Now How Large Is the Safety Net?

Jeffrey M. Lacker and John A. Weinberg

May 2010, No. 10-05

Is There Stigma Associated with Discount Window Borrowing?

Renee Haltom and Huberto M. Ennis

April 2010, No. 10-04

Comparing Labor Markets across Recessions

Marianna Kudlyak, Devin Reilly and Stephen Slivinski

March 2010, No. 10-03

Excess Reserves and the New Challenges for Monetary Policy

Huberto M. Ennis and Alexander L. Wolman

February 2010, No. 10-02

Is a New Asset Bubble Emerging in Certain Markets?

Renee Haltom, Brian Gaines and Juan Carlos Hatchondo

January 2010, No. 10-01

Is the Output Gap a Faulty Gauge for Monetary Policy?

Thomas A. Lubik and Stephen Slivinski
2009 12

December 2009, No. 09-12

The Effect of Interest on Reserves on Monetary Policy

John R. Walter and Renee Haltom

November 2009, No. 09-11

Rolling Back the Financial Safety Net

Robert L. Hetzel and Stephen Slivinski

October 2009, No. 09-10

The Case for Direct Methods to Address CO2 Emissions and Other Negative Environmental Externalities

Kartik B. Athreya and Renee Haltom

September 2009, No. 09-09

Deterring Default: Why Some State Laws Decrease the Probability of Mortgage Foreclosures

Andra C. Ghent, Marianna Kudlyak and Stephen Slivinski

August 2009, No. 09-08

Recent Fiscal Policy and the Manipulation of Aggregate Economic Activity

Kartik B. Athreya and Renee Haltom

July 2009, No. 09-07

Systemic Risk Regulation and the "Too Big to Fail" Problem

Borys Grochulski and Stephen Slivinski

June 2009, No. 09-06

The Growth of Paperless Money: Retail Payments in the United States Continue to Evolve

T. Stuart Desch and Kiran Krishnamurthy

May 2009, No. 09-05

The Costs and Benefits of Bank Supervisory Disclosure

Edward S. Prescott and Stephen Slivinski

April 2009, No. 09-04

What We Do and Don't Know about Discretionary Fiscal Policy

Renee Haltom

March 2009, No. 09-03

Rationalizing Financial Literacy Policy

Kartik B. Athreya and Anne Stiwell

February 2009, No. 09-02

Residential Externalities

Pierre-Daniel G. Sarte and Kevin A. Bryan

January 2009, No. 09-01

The Size and Structure of Exports in the Fifth District Economy

Sonya Ravindranath Waddell
2008 3

December 2008, No. 08-03

Turmoil in the Student Loan Market

John R. Walter and Samuel E. Henly

November 2008, No. 08-02

What Income Inequality Measures Can (and Cannot) Tell Us

Leonardo Martinez and Stephen Slivinski

October 2008, No. 08-01

Inflation Expectations: Their Sources and Effects

Yash P. Mehra and Devin Reilly

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