First Quarter, Volume 4, Number 1

Federal Reserve Bank of Atlanta
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Lynne Anservitz
   Editorial Director

Lynn Foley
Nancy Pevey
   Managing Editors

Elizabeth McQuerry
   Contributing Editor

Jean Tate
Lee Underwood
   Staff Writers

Harriette D. Grissom
Stephen Kay
Myriam Quispe-Agnoli
   Contributing Writers

Carole Starkey
Peter Hamilton


Bobbie H. McCrackin
   VP and Public Affairs

Thomas J. Cunningham
   VP and Associate
   Director of Research

Pierce Nelson
   AVP and Public
   Information Officer

John C. Robertson
   AVP, Research Department
   Regional Section

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ISSN 0899-6571

Photographs in international focus courtesy of Jennifer Weissman

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Volume 4, Number 1, First Quarter 2002

   Drop in Personal Savings Rate
   Won’t Forestall Recovery

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   Southeast Banks Weather
   Current Downturn

Banks have been faring much better in the current economic downturn than they did during the 1990–91 recession. To date, bank failures have been minimal, the ratio of noncurrent loans to total loans has been healthier and profits have not fallen precipitously. What accounts for the relative health of financial institutions during this time of economic stress?

Regional Focus

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   Now and Then: Dissecting Regional
   Differences During Recessions

Not all recessions are the same. A look at the differences in the nature of recessions over time and variations in the economic environment across regions reveals as many differences as similarities. A comparison of the 1990–91 recession and the one beginning in March 2001 highlights such similarities and differences and their effects on the Southeast.
International Focus vertical line    Argentina: The End
   of Convertibility
Argentina’s economic future looked rosy following the 1991 implementation of the Convertibility Plan, but the country’s economy was soon hit with a series of external shocks. A recession followed, and the Convertibility Plan was finally scrapped in 2002. Today, Argentina is in the midst of a severe financial crisis, and convertibility’s limitations have become apparent.

   Research Notes & News
      Dollar Index

   The State of the States

   Southeastern Economic Indicators

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