Featuring research published in November 2010
Mortgage Foreclosure Prevention Efforts
The article describes the U.S. foreclosure prevention programs of the past few years and then examines both the theoretical academic literature of the 1990s and early 2000s and the more recent empirical literature generated by the recent foreclosure crisis. Finally, the authors outline characteristics that an effective loss mitigation strategy should contain.
Estimating the Effect of Mortgage Foreclosures on Nearby Property Values: A Critical Review of the Literature
This article reviews the recently evolved economic literature seeking to estimate the negative effects of foreclosures. While the author finds overall evidence of such adverse effects, he identifies various methodological issues, data limitations, and curious results in the literature.
Microfoundations of Inflation Persistence in the New Keynesian Phillips Curve
CQER Working Paper 10-05
This article proposes a dynamic stochastic general equilibrium model that endogenously generates inflation persistence. In contrast with traditional sticky price models, the framework yields inflation inertia, a delayed effect of monetary policy shocks on inflation, and the observed "reverse dynamic" correlation between inflation and economic activity.
Comment on Eggertsson, "What Fiscal Policy Is Effective at Zero Interest Rates?"
CQER Working Paper 10-06
This paper comments on Gauti B. Eggertsson's paper (published in NBER Macroeconomics Annual 2010), focusing on the subset of Eggertsson's results that initially surprised the author.
The Role of Technical and Vocational Schools in Easing Job Skills Mismatch (MP3 12:35)
Technical and vocational schools are well positioned to provide practical training that meets the needs of local employers. James King, vice chancellor for the Tennessee Technology Centers, discusses how these schools can partner with employers and position their graduates to thrive in today's emerging job sectors.
Business Feedback on Today's Labor Market (MP3 18:17)
Atlanta Fed President and CEO Dennis Lockhart speaks about today's labor market at an Atlanta Fed conference titled "Employment and the Business Cycle," November 11, 2010.
On the Rebound: How Resurgent Cities Generate Jobs and Investment (MP3 11:13)
Older cities once focused on manufacturing have faced declining fortunes for some time. Even with the economic recession adding new pressures to economic development strategies, some of these cities have managed to reinvent themselves into vibrant job centers. Dr. Yolanda Kodrzycki of the New England Policy Center at the Federal Reserve Bank of Boston discusses the lessons these resurgent cities have for other communities.
Toward a Faster Recovery and Reduced Risk of Deflation
Nov. 16, 2010
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, speaks about recent FOMC decisions to the Alabama World Affairs Council in Montgomery, Ala.
Business Feedback on Today's Labor Markets
Nov. 11, 2010
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, speaks about today's labor market at an Atlanta Fed conference titled "Employment and the Business Cycle."