Research Publications

John Mullin
John Mullin is a senior economics writer in the Research Department. He writes for the Richmond Fed’s Econ Focus magazine, Economic Brief series and other publications. John joined the staff in 2019 after a 25-year career on Wall Street, where he served as chief equity strategist for the Americas at ABN AMRO and international equities portfolio manager at Bear Stearns Asset Management.
Previously, Mullin was a senior economist in the New York Fed’s research department. He has a bachelor’s degree in economics and history from the University of California, Berkeley, and a doctorate in economics from UCLA.
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Bank Publications
Economic Brief, May 2023, No. 23-17
Researchers covered topics including digital advertising, R&D allocation, production networks, and knowledge creation and diffusion.
John Mullin and Matthew Wells
Econ Focus, Second Quarter 2023Financial institutions have approached AI with cautious optimism, developing and implementing AI-based applications for things like customer service chatbots, detecting fraud, and evaluating creditworthiness.
John Mullin
Econ Focus, Second Quarter 2023Leveraging some of its natural advantages, Virginia has encouraged the industry's growth through tax incentives and other initiatives. It is now home to hundreds of data centers, many in Northern Virginia's "Data Center Alley."
John Mullin
Econ Focus, First Quarter 2023Market commentors noticed a pattern during Alan Greenspan's tenure as Fed chair from 1987 to 2006. The Fed, it appeared to some, had developed a policy of bailing out stock investors by injecting liquidity into the economy amid large stock market declines. This perceived tendency came to be called the "Greenspan put."
John Mullin
Econ Focus, First Quarter 2023With the American population aging, Richmond Fed economists are attempting to improve their understanding of the economic decisions facing older people — decisions that are likely to become increasingly important for the U.S. economy as the population distribution skews older.
John Mullin
Econ Focus, Fourth Quarter 2022Maggie Lena Walker built the St. Luke Penny Savings Bank to last. When it opened its doors in Richmond's Jackson Ward district in 1903, Walker became the first Black woman to establish a bank in the United States.
John Mullin
Economic Brief, October 2022, No. 22-43Techniques at the frontiers of econometrics were addressed by economists during a recent research conference.
John Mullin
Econ Focus, Third Quarter 2022Today's inflationary snarls reflect both supply shocks and policy stimulus.
John Mullin
Econ Focus, Third Quarter 2022A brief review of the development of the Hornstein-Kudlyak-Lange Non-Employment Index, an alternative to the standard unemployment rate that includes all non-employed individuals and accounts for persistent differences in their labor market attachment.
John Mullin
Econ Focus, Third Quarter 2022There can be high returns to earning an economics degree, helping to draw students to the profession.
John Mullin
Economic Brief, August 2022, No. 22-34How might a CBDC alter the banking system? How does credit easing affect bank runs? These and other questions were addressed during a recent Richmond Fed conference.
John Mullin and Matthew Wells
Econ Focus, Second Quarter 2022Policymakers are weighing the possible benefits and risks of adopting a U.S. central bank digital currency (CBDC).
John Mullin
Economic Brief, June 2022, No. 22-19Among the topics covered at the Marvin Goodfriend conference were Fed bond facilities' impact on corporate credit risk and how trade leads to a global Phillips curve.
John Mullin
Economic Brief, April 2022, No. 22-13How did unemployment insurance expansion affect recovery from the pandemic-induced recession? What are the effects of federal minimum wage hikes? A recent research conference addressed these questions and more.
John Mullin
Econ Focus, First Quarter 2022They've received enduring, yet tepid, bipartisan support since the 1960s
John Mullin
Econ Focus, First Quarter 2022During the mid-to-late 1930s, real estate appraisers working for the government-sponsored Home Owners' Loan Corporation (HOLC) undertook the unprecedented task of rating the creditworthiness of neighborhoods in over 200 of America's largest cities.
John Mullin
Economic Brief, December 2021, No. 21-42Do payday loan regulations help or harm consumer welfare? How many firms close due to financial market inefficiencies? These were among questions addressed at a recent research workshop.
John Mullin
Econ Focus, Fourth Quarter 2021His Pax Mongolica connected Europe and China, leading to exchanges of technology and culture.
John Mullin
Econ Focus, Fourth Quarter 2021The Spirit of Green presents Nordhaus' case for a global carbon tax using language that is likely to be accessible to a general audience.
John Mullin
Economic Brief, October 2021, No. 21-33Since 1980, survey forecasts have been modestly and consistently higher on average than the forecasts derived from a signal extraction model.
John Mullin, John O'Trakoun and Pierre-Daniel G. Sarte
Econ Focus, Second/Third Quarter 2021The Power of Creative Destruction ties the need for social insurance to the crucial roles played by social norms and civil society.
John Mullin
Econ Focus, Second/Third Quarter 2021Governments across the globe recently reached agreement in principle on measures to counter the tax avoidance strategies of multinational corporations.
John Mullin
Econ Focus, Second/Third Quarter 2021Multinational corporate taxation is a long-standing game of cat and mouse. Laws are enacted, corporations react by shifting operations and residency (not to mention engaging in creative accounting), and governments take countermeasures.
John Mullin
Econ Focus, First Quarter 2021The policies were gradually phased out in many advanced and emerging economies. Will they come back?
John Mullin
Economic Brief, May 2023, No. 23-17John Mullin and Matthew Wells
Econ Focus, Fourth Quarter 2020In just 10 years, between 1999 and 2009, North Carolina's furniture manufacturing industry lost more than half of its jobs.
John Mullin
Econ Focus, Fourth Quarter 2020In Taming the Megabanks, Arthur Wilmarth Jr. of George Washington University Law School explores the implications of the gradual erosion and ultimate repeal of the Glass-Steagall Act's banking restrictions.
John Mullin
Economic Brief, December 2020, No. 20-13Economists at the Richmond Fed analyze the role of dealer-provided liquidity in sovereign credit default swap markets.
John Mullin and Bruno Sultanum
Economic Brief, November 2020, No. 20-12What does lifespan inequality mean for Social Security reform?
John Bailey Jones and John Mullin
Regional Matters, October 20, 2020The COVID-19 pandemic is forecast to negatively affect state and local government revenues. In the absence of sizable federal transfers, this is likely to disrupt spending on critical services — including education — in ways that may have long-lasting effects.
John Mullin and Santiago Pinto
Econ Focus, Second/Third Quarter 2020John Mullin
Econ Focus, Second/Third Quarter 2020Loan forbearance and other debt relief measures have been part of the effort to help struggling households and businesses.
John Mullin
Special Reports, August 20, 2020Since March, the federal government has taken many measures to provide support in response to the COVID-19 pandemic.
John Mullin
Special Reports, May 27, 2020John Mullin, Jessie Romero and Sonya Ravindranath Waddell
Econ Focus, First Quarter 2020The market for repurchase agreements has repeatedly adapted to changing circumstances.
John Mullin
Econ Focus, First Quarter 2020John Mullin
Econ Focus, Fourth Quarter 2019Banks in the United States have long had choices between state and federal banking authorities
John Mullin
Econ Focus, Second/Third Quarter 2019John Mullin
Econ Focus, Second/Third Quarter 2019John Mullin
Econ Focus, Second/Third Quarter 2019John Mullin
Econ Focus, Second/Third Quarter 2019Richmond Fed economist Borys Grochulski researches the effects of shadow banking on bank liquidity regulation
John Mullin
Economic Brief, September 2019, No. 19-09Andreas Hornstein, Marianna Kudlyak and John Mullin