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Press Releases

Research Notes–July 2006

Featuring research published in June 2006


Adjusting to the Next Stage of the Housing Cycle
June 7, 2006
Jack Guynn, president and chief executive offiver of the Federal Reserve Bank of Atlanta, provided his thoughts on housing, the U.S. economy and monetary policy.


Instability in U.S. Inflation: 1967–2005
Economic Review Q2 2006
Empirical evidence shows that instability in inflation, inflation growth, and price level persistence and volatility coincides with economic events such as the 1970s’ oil price shocks and the end of the 1990–91 recession.

How Good Is What You’ve Got? DGSE-VAR as a Toolkit for Evaluating DSGE Models
Economic Review Q2 2006
Institutions that use dynamic stochastic general equilibrium models in policymaking need a reliable method for evaluating the models’ effectiveness. This article outlines a benchmark procedure that can reveal in what dimensions a model needs to be improved.

Dollar Declines in May
In May the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta declined 2.6 percent.

Regional Economics

Smart Growth and Rebuilding the Mississippi Gulf Coast
EconSouth Q2 2006
The task of rebuilding Mississippi communities shattered by Hurricane Katrina is prompting some officials, builders, and citizens to consider new ways to envision zoning and development.

Katrina Update: Recovery Comes Slowly
EconSouth Q2 2006
Though much progress has been made recovering from 2005’s hurricanes, even more work remains in the Gulf Coast region. As employment begins to rebound and cleanup continues, full recovery is still a distant goal.

Putting U.S. Manufacturing in Perspective
EconSouth Q2 2006
Since 1990, employment in the U.S. manufacturing sector has declined almost 24 percent. Despite this trend, the manufacturing sector produces more goods today than at any time in the past, and the growth in output has generally matched the growth of the U.S. economy overall.

Q&A with Dave Dennis: “I Truly Think Smart Codes Are a Long-Term Benefit”
EconSouth Q2 2006
An interview with Dave Dennis, president and CEO of Specialty Contractors and Associates Inc., who champions collaboration and careful planning in community development.

Space Coast: Where Economics Is More Than Rocket Science
EconSouth Q2 2006
Central Florida’s Space Coast is becoming less dependent on its signature industry: space exploration. The area’s economic foundation now includes defense contractors, real estate developers, retirees, and tourism.

International Economics

Financial Volatility and Electoral Uncertainty in Latin America
EconSouth Q2 2006
In past years, Latin American economies have experienced volatility during busy electoral cycles. Will this year’s elections threaten the region’s hard-won financial stability?