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Economic Research

We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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Data &
Analysis
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Publications
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Events
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Our Team

Featured

Anna Kovner speaking at Investing in Rural America Conference
Podcast
Keeping Up on the Economy with Anna Kovner
Speaking of the Economy
Jan. 14, 2026

Anna Kovner, director of research at the Federal Reserve Bank of Richmond, reviews the significant, rapid changes in trade policy, immigration policy, and the size of the federal workforce in 2025. She also discusses how the Richmond Fed has assessed the economic impact of these changes through its research and outreach programs.

Senior man with a mobility walker opening the front door of his home to let in his physical therapist.
Article
Home Health Care and Aging in Place
Economic Brief
January 2026, No. 26-02

By John Bailey Jones, Yue Li and Urvi Neelakantan

Over time, older households have become more likely to age in place and more likely to receive long-term care at home.

Publications

Estimating the Missing Intercept
Working Paper Series
November 2025, No. 25-12

Christian Matthes, Naoya Nagasaka and Felipe F. Schwartzman

An econometric framework that can jointly leverage identification strategies from the applied microeconometric toolkit and identification assumptions from the macro/time series literature exploits both time series and crosssectional variation to identify aggregate macroeconomic effects as well as idiosyncratic effects of identified shocks.

Data & Analysis

Hornstein-Kudlyak-Lange Non-Employment Index

 January 16, 2026

The Hornstein-Kudlyak-Lange Non-Employment Index (NEI) was 7.8 percent in December 2025, essentially unchanged from November 2025. The index increased by 0.2 percentage point compared to December 2024.

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CORE Week

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.

Our Careers
Being a Research Associate at the Richmond Fed

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.