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The Often-Ignored Regional Banking Sector 经常被忽视的地区银行业
Economic commentary Pub Date : 2015-02-06 DOI: 10.26509/FRBC-EC-201501
Lakshmi Balasubramanyan, Timothy Bianco
{"title":"The Often-Ignored Regional Banking Sector","authors":"Lakshmi Balasubramanyan, Timothy Bianco","doi":"10.26509/FRBC-EC-201501","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201501","url":null,"abstract":"With the focus of financial reform placed on reducing the risks associated with being \"too big to fail,\"; it is the nation's largest banks that have been subject to the most scrutiny. Regional banks—midsize banks with a small market share—have not warranted comparable attention. Regional banks have not been plagued by too-big-to-fail issues, but they are not without vulnerabilities. As regulation of the financial industry evolves to tailor regulatory and reporting requirements to the risks posed by different types of financial institutions, more needs to be learned about any potential risks posed by regional banks.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"385 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133091439","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Reassessing the Effects of Extending Unemployment Insurance Benefits 重新评估延长失业保险福利的影响
Economic commentary Pub Date : 2014-11-14 DOI: 10.26509/FRBC-EC-201423
Pedro S. Amaral, Jessica L. Ice
{"title":"Reassessing the Effects of Extending Unemployment Insurance Benefits","authors":"Pedro S. Amaral, Jessica L. Ice","doi":"10.26509/FRBC-EC-201423","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201423","url":null,"abstract":"To deal with the high level of unemployment during the Great Recession, lawmakers extended the availability of unemployment benefits—all the way to 99 weeks in the states where unemployment was highest. A recent study has found that the extensions served to increase unemployment significantly by putting upward pressure on wages, leading to less jobs creation by firms. We replicate the methodology of this study with an updated and longer sample and find a much smaller impact. We estimate that the impact of extending benefits on unemployment through wages and job creation can, at its highest, account for only one-fourth of the increase in the unemployment rate; an impact that is much lower than other estimates in the literature.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129709776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 19
Interest Rate Risk and Rising Maturities 利率风险和到期日上升
Economic commentary Pub Date : 2014-10-16 DOI: 10.26509/FRBC-EC-201422
William Bednar, Mahmoud Elamin
{"title":"Interest Rate Risk and Rising Maturities","authors":"William Bednar, Mahmoud Elamin","doi":"10.26509/FRBC-EC-201422","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201422","url":null,"abstract":"Banks have been steadily increasing their exposure to interest rate risk since the end of the financial crisis, though large and small banks are doing so in different ways. This Commentary examines the maturity structure of assets and liabilities to identify the underlying factors responsible for the rise in interest rate risk and the differences between large and small banks.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127201940","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
How Much Slack Is in the Labor Market? That Depends on What You Mean by Slack 劳动力市场有多不景气?这取决于你对Slack的定义
Economic commentary Pub Date : 2014-10-15 DOI: 10.26509/FRBC-EC-201421
Murat Tasci, Randal J. Verbrugge
{"title":"How Much Slack Is in the Labor Market? That Depends on What You Mean by Slack","authors":"Murat Tasci, Randal J. Verbrugge","doi":"10.26509/FRBC-EC-201421","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201421","url":null,"abstract":"Estimates of labor market slack can diverge a great deal depending on how slack is defined. We calculate slack using five different concepts that all focus on a single labor market indicator, the unemployment rate. We show that the estimates all provide useful—but different—information. We argue that choosing the best measure of slack depends on the question being asked. If the question is, “Has the unemployment rate reached its longer-run normal level?” then our answer is, “Almost.” But significant uncertainty surrounds the estimates; and others may wish to consider additional labor market indicators.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116408182","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
A Gap in Regulation and the Looser Lending Standards that Followed 监管的漏洞和随之而来的更宽松的贷款标准
Economic commentary Pub Date : 2014-10-09 DOI: 10.26509/FRBC-EC-201420
Yuliya Demyanyk, Elena Loutskina
{"title":"A Gap in Regulation and the Looser Lending Standards that Followed","authors":"Yuliya Demyanyk, Elena Loutskina","doi":"10.26509/FRBC-EC-201420","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201420","url":null,"abstract":"New research highlights how disparities in the regulatory treatment of banks and shadow banking organizations before the fi nancial crisis allowed heavily-regulated bank holding companies to lend through their less-regulated subsidiaries. Doing so helped them to conserve their regulatory capital, avoid recognizing costly loan losses, and pursue riskier lending while still adhering to banking regulations.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"152 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132716458","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Public Housing, Concentrated Poverty, and Crime 公共住房、集中贫困和犯罪
Economic commentary Pub Date : 2014-10-06 DOI: 10.26509/FRBC-EC-201419
D. Hartley
{"title":"Public Housing, Concentrated Poverty, and Crime","authors":"D. Hartley","doi":"10.26509/FRBC-EC-201419","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201419","url":null,"abstract":"A number of studies have explored the relationship between public housing policy, poverty, and crime. This Commentary discusses the results of a recent study, which investigated the effects of closing large public housing developments on crime. To see if the demolitions—and the associated deconcentration of poverty—reduced crime or merely displaced it, researchers examined the case of Chicago. They found that closing large public housing developments and dispersing former residents throughout a wider portion of the city was associated with net reductions in violent crime, at the city level.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121164335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Income Inequality and Income-Class Consumption Patterns 收入不平等与收入阶层消费模式
Economic commentary Pub Date : 2014-10-06 DOI: 10.26509/FRBC-EC-201418
LaVaughn M. Henry
{"title":"Income Inequality and Income-Class Consumption Patterns","authors":"LaVaughn M. Henry","doi":"10.26509/FRBC-EC-201418","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201418","url":null,"abstract":"This Commentary investigates whether there has been a growing divergence in the consumption of luxury and necessity goods across income classes. The analysis shows that while necessities represent a majority of the consumption basket for lower and middle income quintiles, their consumption of necessities in inflation-adjusted dollars has been declining in the face of higher prices of such goods and stagnant income growth. Higher income quintiles have seen increases in their consumption of luxuries, simultaneous with a decline in their consumption of necessities.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"205 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123254483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 16
The Evolution of Household Leverage during the Recovery 经济复苏期间家庭杠杆的演变
Economic commentary Pub Date : 2014-09-02 DOI: 10.26509/FRBC-EC-201417
S. Whitaker
{"title":"The Evolution of Household Leverage during the Recovery","authors":"S. Whitaker","doi":"10.26509/FRBC-EC-201417","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201417","url":null,"abstract":"Recent research has shown that geographic areas that experienced greater household deleveraging during the recession also experienced relatively severe economic contractions and slower recoveries. This analysis explores geographic variations in household debt over the past recession and recovery. It fi nds that regions that had very high household leverage at the start of the recession have shifted back toward national norms, while the variation of leverage within metro areas has maintained steady relationships with neighborhood characteristics such as location,demographics, and the age of the housing stock.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124913823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Importance of Trend Inflation in the Search for Missing Disinflation 趋势通货膨胀在寻找缺失的反通货膨胀中的重要性
Economic commentary Pub Date : 2014-08-26 DOI: 10.26509/FRBC-EC-201416
Todd E. Clark
{"title":"The Importance of Trend Inflation in the Search for Missing Disinflation","authors":"Todd E. Clark","doi":"10.26509/FRBC-EC-201416","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201416","url":null,"abstract":"Some inflation-forecasting models based on the Phillips curve suggest that there should have been more disinflation since the Great Recession than has shown up in core PCE or core CPI data. One way researchers have found to make the disinflation disappear is to remove the long-term unemployed from the overall unemployment measure that is typically used in the models. This analysis shows that the disinflation arises in such models because of the way they account for the long-term trend in inflation. Under a different measurement of trend inflation, which historical forecast accuracy suggests should be preferable, the recent path of inflation can be reasonably well explained by an inflation-forecasting model that incorporates the overall unemployment rate.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"230 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127559135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
The Shifting Source of New Business Establishments and New Jobs 新企业和新工作来源的转移
Economic commentary Pub Date : 2014-08-21 DOI: 10.26509/FRBC-EC-201415
Ian F. Hathaway, M. Schweitzer, S. Shane
{"title":"The Shifting Source of New Business Establishments and New Jobs","authors":"Ian F. Hathaway, M. Schweitzer, S. Shane","doi":"10.26509/FRBC-EC-201415","DOIUrl":"https://doi.org/10.26509/FRBC-EC-201415","url":null,"abstract":"As markets and business patterns change, new business establishments are created to serve them. Those new establishments can be provided by entrepreneurs creating new firms or by the owners of existing businesses opening new locations. We show that over the past three decades, new establishments have increasingly been provided by existing businesses opening new locations. Those new locations have created jobs at a higher rate than brand-new firms, which helps to boost job creation. Looking at both forms of new establishments shows that job creation is down following the recession, but new locations were growing entering the recession and should be a critical component of job creation as the economy continues to recover.","PeriodicalId":368681,"journal":{"name":"Economic commentary","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129250161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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