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Press Releases

Research Notes–April 2005

Featuring research published in March and early April 2005


New Remedies for a Changing World of Payments
March 21, 2005
Partick K. Barron, first vice president and chief operating officer of the Federal Reserve Bank of Atlanta, speaks to community bankers about transition in financial services.


On the Uniqueness of Community Banks
Economic Review Q1 2005
The authors explore the differences between community banks and large banks, identifying unique characteristics of community banks that have kept them generally profitable in the face of dramatic regulatory and technological changes.

Dollar Continues Its Modest Increase in February
In February the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta rose 0.4 percent.


Mimicking Portfolios, Economic Risk Premia, and Tests of Multi-beta Models
Working Paper 2005-4
The authors compare different ways of computing risk premia when factors are nontraded. They determine that maximum-correlation portfolios have several advantages over unit-beta portfolios, especially when factors are measured with noise.

Regional Economics

Riding the Rising Wave of Hispanic Buying Power
EconSouth Q1 2005
Hispanics have become the largest minority population in the United States. As the incomes and purchasing power of this population group grow, businesses are learning the importance of targeting their goods and services toward this increasingly prosperous consumer market.

Southeast’s Auto Industry Climbs Into the Drivers’ Seat
EconSouth Q1 2005
The Southeast has benefited from changes in the vehicle assembly industry. Agreeable weather and lower labor and land costs have attracted numerous assembly facilities of domestic and foreign car makers.

Hispanics Display Entrepreneurial Spirit
EconSouth Q1 2005
Interview with Nuby J. Fowler of the Small Business Administration

Economics 101: Demand and Supply
EconSouth Q1 2005
Labor demand has been getting quite a bit of attention lately. Since the latest recession officially ended in November 2001, the media have spent a great deal of ink focusing on slow job growth, and recent labor market performance has actually been something of a phenomenon. More than three years after the end of the recession, the economy has finally reached the number of jobs it had prior to the recession.

Columbus Navigates from Textile Town to River Runner
EconSouth Q1 2005
The economy of Columbus, Ga., was built on twin pillars of 20th century America: defense and manufacturing.

Employment Growth and Labor Force Participation: How Many Jobs Are Enough?
Economic Review Q1 2005
The author considers whether the current rate of job creation can sustain desired growth in overall economic output and discusses options for increasing the flow of workers into the labor force.

The Quality of Preventive and Diagnostic Medical Care: Why Do Southern States Underperform?
Economic Review Q1 2005
Analyzing data on Medicare beneficiaries, the authors attribute differences among states’ levels of preventive and diagnostic care to their socioeconomic and demographic characteristics.

International Economics

The Evolution and Implications of the U.S. Current Account Deficit
EconSouth Q1 2005
The global economy has focused increasing attention on the U.S. current account deficit. Placing this economic measurement in perspective is central to understanding its potential effects.

On the Remitting Patterns of Immigrants: Evidence from Mexican Survey Data
Economic Review Q1 2005
Data on the remittance and banking behavior and the demographic, job, and home-community characteristics of Mexican immigrants to the United States interviewed during the past two decades provide insights into the growing remittances phenomenon.