The Economy

We produce and compile research and data on the overall economy, banking and financial markets. Our goal is to help financial institutions operate in a safe manner and support a robust U.S. financial system.

The main street of a small town at the base of a mountain.

Regional Economics

Working Paper

The Push of Big City Prices and the Pull of Small Town Amenities

WP 22-41 – As house prices rise in large, housing-constrained cities, what are the implications for places that have room to grow? We explore how amenities have differentially driven population and price dynamics in big cities and small towns.

Aruoba-Diebold-Scotti Business Conditions Index

An index designed to track real business conditions at high observation frequency


The Economy


Explaining Economic Growth and Savings Rates in China Following Its Demographic and Industrial Transformation

Research in Focus — Michael Dotsey and his coauthors study how the interaction of industrial and demographic policies along with human capital investments influenced China’s savings and growth rates.

Red and white For Sale signs are displayed on a grassy hill next to a road.

Regional Economics

Working Paper

A Statistical Learning Approach to Land Valuation: Optimizing the Use of External Information

WP 22-38 – We develop a method that combines common improved-property sales with rare, but more informative, vacant-land sales to estimate the value of vacant land.


Working Paper

Is GDP Becoming Obsolete? The “Beyond GDP” Debate

WP 22-37 – Real GDP falls short in quantifying the economic well-being of a nation. We discuss how far we can expand it to include new well-being impacts like the rise of the Internet and climate change. Not all of well-being is quantifiable.

The Economy



Many of our economists conduct research in areas of macro- and microeconomics and regularly contribute to policy discussions. You can find out more about these economists and their work by clicking on their highlighted names.