Raj Chetty discusses his research on economic mobility and variations in how readily people can climb the income ladder, especially in rural communities. Chetty, an economics professor at Harvard University and director of Opportunity Insights, gave the keynote address at the Investing in Rural America Conference in September 2026.
Hurricane Helene devastated Western North Carolina more than two years ago. While more recent data reveal slow population growth and a softened housing market, there are signs that positive growth is on the horizon.
In general, the distribution of bank reserves tends to be highly persistent during periods of abundant reserves, but redistribution intensifies when reserves reach lower (yet, still ample) levels.
Over a three-year horizon, goods-producing sectors have larger cumulative aggregate effects from productivity shocks than service-producing sectors, despite goods only accounting for less than one-third of GDP.
Population aging and educational upgrading explain most long-run movements in aggregate trends, while cohort effects drive large gender differences in participation.
This overview of the Fifth District economy includes timely analysis of labor and housing markets, including growth in payrolls.
Since 2021, the Collaboration of Research Economists (CORE) model has combined frontier research and an innovative delivery method to advance collaboration within the economics profession. Economists from a range of disciplines join with Richmond Fed economists eight times per year for seminars, collaboration, and formal and informal networking — all with an eye toward advancing economic research.
Research Associates help the Richmond Fed's economists with their research and policy memos for briefing the Bank's president on the state of the economy. For recent graduates thinking about applying to a Ph.D. program, this position is an ideal way to learn more about academic economic research.
