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Press Releases


Research Notes–September 2009


Featuring research published in August 2009

Speeches

The U.S. Economy and the Employment Challenge
August 26, 2009
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the economic outlook and employment to the Chattanooga Area Chamber of Commerce in Chattanooga, Tenn.

Macroeconomics

Why Don’t Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures, and Securitization
Working Paper 2009-17
Mortgage lenders have been reluctant to renegotiate seriously delinquent mortgages. The authors show servicers find renegotiation unattractive because of the possibility of redefault and because a delinquent borrower might become current without renegotiation.

U.K. World War I and Interwar Data for Business Cycle and Growth Analysis
Working Paper 2009-18
This paper fills in gaps in U.K. economic data. The authors use these data to study U.K. per capita hours worked and average capital income, labor income, and consumption tax rates from 1913 to 1938.

Voters Hold the Key: Lock-In, Mobility, and the Portability of Property Tax Exemptions
Working Paper 2009-19
Examining a Florida referendum on property value assessment caps, the authors find that voters were as concerned with reducing their own tax share at the expense of other property owners as they were with curtailing local expenditures.

Finance

The Financial Crisis of 2008 in Fixed Income Markets
Working Paper 2009-20
The authors explore how a relatively small amount of securities created global financial turmoil. Their analysis finds that hard-to-value securities were drivers of the crisis.

Podcasts

The U.S. Economy and the Employment Challenge (MP3 19:41)
Speeches
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the economic outlook and employment to the Chattanooga Area Chamber of Commerce in Chattanooga, Tenn.

Tourism in the Southeast (MP3 5:57)
Southeastern Economic Perspectives
Michael Chriszt and Courtney Nosal of the Atlanta Fed's research department discuss recent data about tourism and related trends in the Southeast.

Foreclosures and Loan Modifications (MP3 11:24)
Financial Update Focus
Kris Gerardi, a research economist and associate policy adviser in the research department of the Atlanta Fed, discusses loan modifications for borrowers in danger of foreclosure.

Payments Innovation and Risk (MP3 13:54)
Payments Spotlight
Woody Tyner, payment strategist at BB&T Corporation and an adviser to the Atlanta Fed's Retail Payments Risk Forum, discusses balancing payments innovation with risk mitigation.