Featuring research published in February 2010
The Economic Outlook: A Tale of Two Narratives
Feb. 18, 2010
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the outlook and factors that could influence the recovery to the Augusta Chamber of Commerce in Augusta, Ga.
The Relationship between Mortgage Markets and House Prices: Does Financial Instability Make the Difference?
CenFIS Working Paper 10-02
The authors present evidence that the effect of mortgage lending on housing prices increased in 2001 in Spain. They suggest this change may be related to securitization of mortgage loans.
Notes from the Vault
While the FDIC Improvement Act of 1991 was expected to reduce the likelihood of banks being too big to fail, events during the 2008 financial crisis clearly indicate that too big to fail is alive and well, at least in financial crises.
Do Credit Constraints Amplify Macroeconomic Fluctuations?
Working Paper 2010-1
Combining two key features into a dynamic stochastic general equilibrium model, the authors are able to generate an empirically important mechanism that explains the persistent comovements between housing prices and business investment.
Assessing the Impact of Education and Marriage on Labor Market Exit Decisions of Women
Working Paper 2010-2
Investigating women's decision to exit the labor market upon the birth of a child, the authors determine exit rates among single, less educated women are consistent with change in overall female labor force participation.
Investment-Specific Technology Shocks and International Business Cycles: An Empirical Assessment
Working Paper 2010-3
This paper shows that while a thoughtful calibration of investment-specific technology shocks is useful to address several existent puzzles in the open macro literature, the actual estimated shocks are powerless to explain any of them.
Economic Development, Community Development, and the Sustainable Use of Natural Resources (MP3 14:31)
Chris Clark, commissioner of Georgia's Department of Natural Resources, discusses some of the connections between economic development, community development, and the sustainable use of natural resources.
The Role of Banks in Economic and Community Development (MP3 8:37)
Bill Best, senior vice president for community development at PNC Bank and chair of the International Economic Development Council, discusses the role of banks in economic and community development.