Publications

Measuring the Effect of School Choice on Economic Outcomes

By Michael T. Owyang and E. Katarina Vermann

In measuring the returns to education, economists usually focus on the number of years of schooling. But many people would say that the quality of schooling matters, too, even at the high school level. Does the type of high school attended make a difference in future income?

(0 Ratings)

Too Big To Fail: The Pros and Cons of Breaking Up Big Banks

By David C. Wheelock

Many people want to put size limits on “too big to fail” banks, given their risks to the broader economy. Such limits, however, could raise the cost of providing banking services by preventing banks from exploiting economies of scale.

(0 Ratings)

Unemployment Insurance: Payments, Overpayments and Unclaimed Benefits

By David L. Fuller B. Ravikumar, and Yuzhe Zhang

In the U.S. unemployment insurance program, most of the overpayments due to fraud arise from individuals collecting benefits while they are gainfully employed. In addition, the overpayments are dwarfed by payments unclaimed by some who are eligible for unemployment benefits.

(0 Ratings)

Household Financial Stability: Who Suffered the Most from the Crisis?

By William R. Emmons and Bryan J. Noeth

The financial crisis and ensuing recession took a toll on just about everybody’s household wealth. Not surprisingly, the pain wasn’t evenly distributed. Those groups that are usually the most vulnerable in our society—young and middle-aged minority households—suffered the most, percentage-wise.

(0 Ratings)

Job Gains and Losses at Large and Small Firms during the Great Recession

By Juan M. Sánchez and Lowell R. Ricketts

Conventional wisdom says that employment at small firms declines more than employment at large firms during recessions. However, that doesn’t seem to have been the case during the Great Recession of 2007-09.

(0 Ratings)

Understanding Poverty Measures and the Call To Update Them

By Natalia A. Kolesnikova and Yang Liu

Official poverty rates are on the rise in the United States. But does this necessarily mean that more people can’t meet their basic needs? This article examines how poverty is calculated and looks at the criticisms of these measures.

(0 Ratings)

College Degrees: Why Aren't More People Making the Investment?

By Maria E. Canon and Charles S. Gascon

The benefits of a college diploma are many, including higher pay, lower unemployment, maybe even better health. Yet many high school graduates still do not pursue a college degree. This article examines several key reasons why more people aren’t making this investment in themselves.

(27 Ratings)

Is the End Near for the Popular Transaction Account Guarantee Program?

By Michelle Clark Neely

The Dodd-Frank superseded and extended the coverage of the FDIC’s popular TAG program, which is set to expire on Dec. 31, 2012. Opinions are divided among numerous bankers, banking organizations, lawmakers and others on whether TAG should continue or terminate.

(0 Ratings)

Neighborhood Revitalization and the Business District

By Faith Weekly

Revitalization of neighborhood business districts tend to be successful if they have a combination of local leadership, local funders, involved anchor institutions and engaged residents who are passionate about their community.

(18 Ratings)

The Sovereign Debt Crisis: A Modern Greek Tragedy

Two “Dialogue with the Fed” public events—one in English and one in Spanish—explored the reasons behind Europe’s sovereign debt crisis and what the implications may be for the United States.

(22 Ratings)

Many Moving Parts: A Look Inside the U.S. Labor Market

By David Andolfatto and Marcela M. Williams

Almost 8 million jobs were lost in the Great Recession of 2007-09 when the average unemployment rate peaked at over 9 percent. Roughly 1 million jobs have been regained since early 2010, but the unemployment rate remains persistently high. Some policymakers fear a prolonged “jobless recovery”—a period of rising average income, measured by gross domestic product (GDP)—with little or no employment growth.

(34 Ratings)

Paper or Plastic? The Potential Impact of Prepaid Cards on Personal Financial Management

By Lesley Morgan

The true potential of prepaid cards has yet to be discovered, but consumers who are still navigating alternatives to pay off their bills during the slow economy, as well as people who prefer to use options other than traditional banking to manage their finances, are at the heart of this growing market.

(0 Ratings)

The Role of Financing in International Trade during Good Times and Bad

By Silvio Contessi and Francesca de Nicola

The collapse of trade during the financial crisis can be tied, for the most part, to a drop in demand. Less talked about, however, is the role of financing—or lack thereof.

(20 Ratings)

Will Community Bank Returns on Equity Return to Precrisis Levels?

By Gary S. Corner

It is possible ROE will settle in at a lower-than-precrisis historical rate, leading to a resetting of performance expectations by community bank stakeholders.

(0 Ratings)

Is Shadow Banking Really Banking?

By Bryan J. Noeth and Rajdeep Sengupta

To those who don't know, the term "shadow banking" probably has a negative connotation. This primer draws parallels between what has been termed the shadow banking sector and the traditional banking sector—showing that they are similar in many ways.

(0 Ratings)

Questions about the Budget Deficit of the U.S. Have No Easy Answers

By William R. Emmons

This Q&A on the federal deficit is a preview of the "Dialogue with the Fed" that the public is invited to Oct. 18 at the St. Louis Fed.

(0 Ratings)

Rebuilding Household Balance Sheets: Ray Boshara’s Testimony to the U.S. Senate

By Ray Boshara

St. Louis Fed Senior Advisor Ray Boshara has referred to the weak household balance sheet as one of the core economic challenges of our time, suggesting that households must focus on rebuilding their balance sheets—including securing the right levels and types of savings, debts and assets. Read an abridged version of his congressional testimony in the first of a series of articles on this topic.

(46 Ratings)

Why Health Care Matters and the Current Debt Does Not

By Brett W. Fawley and Luciana Juvenal

All of the attention given to raising the debt ceiling this past summer might lead some to believe that spending by the federal government only recently became unsustainable. Hardly. We've been on this path a long time.

(0 Ratings)

Agriculture Banks Are Outperforming Their Peers, But How Long Will It Last?

By Gary S. Corner

With soaring commodity prices and farmland values in recent years, banks with an agricultural focus (where at least 25 percent of total loans are production and farmland loans) have outperformed their community bank peers. Find out what risks agriculture banks may face.

(54 Ratings)

Commodity Price Gains: Speculation vs. Fundamentals

By Brett W. Fawley and Luciana Juvenal

Commodities of all sorts have risen in price over the past few years. Some say that the prices reflect a bubble, driven by low interest rates and excessive speculation. Others say the price gains can be fully explained by supply and demand.

(0 Ratings)

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