Monetary Policy and the New Normal
Is the economy in for a prolonged spell of slow growth, as some believe, or a burst of innovation and productivity? In either event, policymakers must pay close attention to productivity trends, according to Michael Dotsey.
Banking Trends: How Dodd–Frank Affects Small Bank Costs
Do the stricter banking regulations enacted since the financial crisis significantly burden small banks? James DiSalvo and Ryan Johnston examine how Dodd–Frank
has affected banks with less than $10 billion in assets.
Housing's Role in the Slow Recovery
Why did homebuilding recover so slowly after the Great Recession? Burcu Eyigungor examines some unusual supply and demand factors during the boom and bust and explores why home construction is so important to economic recoveries.
Chapter 11 for Countries?
Sovereign default risk is rising, yet the system for dealing with it remains flawed. Satyajit Chatterjee explains why it might be time to revive a debt restructuring proposal the international community rejected in 2003.
Regional Spotlight: Pension Gap Perils
Pennsylvania and New Jersey's pension systems are severely straining their state budgets, and Delaware's also carry shortfalls. Elif Sen examines whether assumed returns on pension fund investments project the full extent of the gaps.
All Layoffs Are Not Created Equal
More layoffs are intended to be temporary than conventional measures would suggest. Shigeru Fujita explains how this undercounting occurs and its surprising implications for today's problem of long-term unemployment.
The Free-Banking Era: A Lesson for Today?
Reaching back to a volatile era in U.S. banking history, Daniel Sanches finds insight for today's challenge of ensuring a stable banking system — though perhaps not the lesson one might expect.
Banking Trends: The Growing Role of CRE Lending
Commercial real estate has grown dramatically as a share of U.S. economic activity and is banks' largest lending category, particularly for small and midsize banks. It is also the riskiest part of bank portfolios. James DiSalvo and Ryan Johnston provide a primer. First in a series.
Just How Important Are New Businesses?
New businesses are major job generators, so disappointing trends in firm formation have raised concern. Thorsten Drautzburg discusses why at least some of the worry might be misplaced.
Regional Spotlight: The State of the States
The U.S. economy has been expanding for seven years — but don't tell that to a handful of states that have suffered recessions recently. Paul R. Flora discusses how Philadelphia Fed indexes may aid in the tricky business of identifying recession patterns among the 50 states.
Banking Policy Review: Did Dodd–Frank End 'Too Big to Fail'?
Postcrisis bank reform was intended to end market perceptions that if a big bank fails, the government will have no choice but to bail it out. Ryan Johnston examines recent evidence.