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Press Releases


Featuring research published in March 2010

Speeches

Prospects for Sustained Recovery and Employment Gains
March 31, 2010
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the recovery and unemployment to the Business Leaders Luncheon in Hartford, Conn.

The U.S. Economy and Emerging Risks
March 22, 2010
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the economy, the interplay between fiscal uncertainty here and abroad, and appropriate monetary policy to achieve both growth and control of inflation to the Naples Council on World Affairs in Naples, Fla.

Recovery and Reform
March 3, 2010
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the recovery, regulatory reform, and long-term rebalancing of economic fundamentals to the New York Association for Business Economists in New York.

Finance

On the Hansen-Jagannathan Distance with a No-Arbitrage Constraint
Working Paper 2010-4
The authors provide an in-depth analysis of the theoretical and statistical properties of the Hansen-Jagannathan distance with a no-arbitrage constraint and find that ranking models using this metric can be problematic.

What Do Premiums Paid for Bank M&As Reflect? The Case of the European Union
Working Paper 2010-5
Studying European bank mergers between 1997 and 2007, the authors find that stricter bank regulations and stronger deposit insurance schemes lower the takeover premiums that acquiring banks pay.

Tests of Ex Ante versus Ex Post Theories of Collateral Using Private and Public Information
Working Paper 2010-6
The authors study the role of collateral in loan contracting using unique credit registry data that allow for the identification of effects attributable to different collateral theories.

The Information Revolution and Small Business Lending: The Missing Evidence
Working Paper 2010-7
The authors provide empirical confirmation for the widely accepted conjecture that information technology was the primary driver of small business borrower-lender distances in recent years.

Prudential Discipline for Financial Firms: Micro, Macro, and Market Structures
Working Paper 2010-9
The author discusses ways to strengthen micro- and macroprudential supervision and restore credible market discipline in the wake of the breakdowns in the prudential discipline that led to the recent global financial crisis.

Macroeconomics

What Explains Differences in Foreclosure Rates? A Response to Piskorski, Seru, and Vig
Working Paper 2010-8
Responding to earlier research, the authors find that early payment defaults are not a valid way to study foreclosure rates and that using modification rates of delinquent mortgages allows better study of renegotiation activity.

Real Time Analysis of the U.S. Business Cycle
Center for Quantitative Economic Research
The author discusses ways to gauge the weakness or strength of the economy in real time, rather than the lag currently seen in the National Bureau of Economic Research (NBER) procedure.

Regional Economics

Employment Survey Delivers JOLTS
EconSouth Q1 2010
The Job Openings and Labor Turnover Survey—more often known as JOLTS—allows a closer look at changes in the job market. During times of high unemployment, the insights gleaned from JOLTS are especially noteworthy.

The Role of the Dice
EconSouth Q1 2010
State governments have reaped big windfalls from legalized forms of gambling, including lotteries and casinos. But shrinking revenue streams and growing budget demands beg the question of whether governments have become too reliant on gaming.

Southeastern Fishing Faces Strong Currents
EconSouth Q1 2010
Fishing has been a staple of the Southeastern economy for centuries. But growing competition from imports and setbacks by Mother Nature have caused a historically robust industry to struggle.

International Economics

Brazil and Peru Economies Set to Flourish in Postrecession World
EconSouth Q1 2010
Farsighted investments in infrastructure and policy reforms have enabled two emerging economies to rebound from challenges that many developed economies around the world have found much more intractable.

Podcasts

Prospects for Sustained Recovery and Employment Gains (MP3 19:55)
Speeches
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the recovery and unemployment to the Business Leaders Luncheon in Hartford, Conn.

The U.S. Economy and Emerging Risks (MP3 17:38)
Speeches
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the economy, the interplay between fiscal uncertainty here and abroad, and appropriate monetary policy to achieve both growth and control of inflation to the Naples Council on World Affairs in Naples, Fla.

Recovery and Reform (MP3 14:42)
Speeches
Dennis P. Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, comments on the recovery, regulatory reform, and long-term rebalancing of economic fundamentals to the New York Association for Business Economists in New York.

The Role of Foundations in Economic and Community Development (MP3 15:17)
Economic Development
Douglas W. Nelson, president and chief executive officer of the Annie E. Casey Foundation, discusses how philanthropy can and should play a role in economic development efforts.

Examining JOLTS (MP3 8:31)
EconSouth Now
Julie Hotchkiss and Menbere Shiferaw of the Atlanta Fed's research department discuss the Job Openings and Labor Turnover Survey and the region's changing employment landscape.

The Economics of Urban Growth (MP3 12:26)
Research Insights
Ed Glaeser, professor of economics at Harvard University, discusses the economics of urban growth in Atlanta and the Southeast.