Publication:
Economic Letter (Federal Reserve Bank of San Francisco)
1973-2023
Economic analysis for a general audience
- Economic Letter
- FRBSF Economic Letter
- Federal Reserve Bank of San Francisco Economic Letter
- 1970s
- 1980s
- Counting
- OPEC: $27? $30? $40?
- Turbulent But Profitable
- Explosion in the Granary
- Falling Dollar?
- Budgets and Recessions
- The Foreign Dimension
- Allocating Credit
- Monetary Aggregates--Redefined
- Substitution Account
- Inflation Premiums, Budget Deficits
- Countering the Threat
- Synfuel Subsidy?
- Historic Legislation
- Budgets and Borrowing
- Money and Housing
- Forecasting Recessions
- How Good a Signal
- Gradualism
- Has the Fed Given Up?
- In the Chips
- Measuring Inflation
- After Three Rounds : 2-1
- Tenants' Complaints
- 7.8 - 6.2 = 1,716,000
- Graying of the Northwest?
- Money, Prices, and Interest Rates
- Mortgage Innovation?
- Military Disgrace?
- Roller Coaster
- Two Weeks Can Be a Long Time
- Deregulation
- Consumers and the Recession
- Are We Saving Enough?
- City of Angels
- In Pursuit of Money
- Interest Rates and Exchange Rates : I, The Relationship
- Interest Rates and Exchange Rates : II, Policy Implications
- China : Money and Banking
- What's Ahead for Prices?
- Educated Consumers
- California--Cycles and Trends
- China : Nation in Transition
- Another Oil-Price Shock?
- Productivity Slowdown : I
- Productivity Slowdown : II
- Shifts in the Aggregates
- Housing : Sacred Cow?
- The Time Is Now
- Index Problems
- Evergreen Industry
- Mediocre Year
- Hit List?
- Gauging Fiscal Policy : I
- Gauging Fiscal Policy : II
- Drilling Boom
- Tumultuous Year
- Opec After 20 Years
- From the Caymans
- Interest Rates and the Fed
- Reconciling Monetary and Fiscal Policy
- Spending and Borrowing
- Capital Formation and Competitiveness
- The Funds and Their Critics
- Foretelling the Future
- Risk and Duration
- Deposit Deregulation
- New World
- Policy Debate
- Out of the Woods?
- Kemp-Roth and Saving
- Detroit vs. Tokyo
- Job Creation : A Post-Mortem?
- Thatcherism
- Bond Market in Turmoil
- High-Employment Budget
- MX Under Fire
- Now Developments
- Over the Limit
- Costs, Competition and the Prime
- Superfly
- Banking Deregulation
- Pricing Fed Services
- Domestic Gloom and Foreign Optimism?
- Summer of '41
- Dripping Red Ink at 37,000 Feet
- Can the Pros Beat the Market?
- Mortgage Controversies
- Innovation and Monetary Policy : I
- Innovation and Monetary Policy : II
- The Base Money Paradox
- Inflation, Saving and Participation
- American Emirates?
- Earthquake Economics
- How Fast Could Inflation Be Eliminated?
- Penalty Discount Rate : I
- Penalty Discount Rate : II
- Revising the Yardstick
- Return to Gold?
- New World for CU's
- Deficits and Monetary Growth
- No. 1 in Growth
- Coals and Switches
- Recession Year
- Innovation and Money Demand
- Real Interest Rates
- Financial Year
- Apples, Oranges and Money : I
- Apples, Oranges and Money : II
- Glass-Steagall
- New Measure of M-2
- M-2 as a Monetary Target
- Say "Kondratieff"
- Deficit Financing Pressures
- Fed Pricing
- Crowding-Out : Japanese Experience
- 1787 Revisited
- Underlying Inflation
- Alaskan Gas
- California's Usury Ceilings
- Are Interest Rates Comparable?
- Indexation and Bracket Creep
- Financing the Deficit
- Interest Rates : How Much Is Real? (I)
- Interest Rates : How Much Is Real? (II)
- Strength in Services
- Not-So-Precious Metal
- Basic Industry
- Canadian Targets
- Gestalt Money
- Deficits, Interest Rates, Crowding Out
- The Recession Is Over?
- Boom in California Aerospace?
- Decomposing the Aggregates
- Corporate Liquidity
- Contemporaneous Reserve Accounting
- Copper in the Red
- Term Structure Puzzles
- Pricing Federal Irrigation Water
- Volatility in Money and Interest
- Nationwide Branching : The Canadian Case
- Risk, Insurance and Central Banking
- Japan's Trade Surplus
- Volatility and Unpredictability
- Financial Reform : Japan Style
- Sero Sed Serio
- Who Are the Unemployed?
- Understanding Federal Deficits
- Western Bank Earnings
- Retail RPs
- Banking Structure in the West
- A Pacific Century?
- Float
- Clouds Over International Lending
- Santa and the Grinch
- The Not-So-Wild West
- Options Fever
- All Is Not Well
- An Overvalued Dollar?
- New Deposits
- How Low Can Interest Rates Be Pushed?
- Steel Imports
- Exchange Rate Indicators
- Northwest Timber Dilemma
- The Morning After
- The New CPI
- Delayed Availability
- Velocity and Monetary Policy in 1982
- Is M1 Ruined?, Part l
- Is M1 Ruined?, Part ll
- U.S.-Japan Trade
- The Whys of Automobile Discounts
- Default for Washington Power?
- On the Offensive
- 3 for the Economists
- Market Value, Part l
- Market Value, Part ll
- How Exchange Rates Are Determined
- Moratorium?
- U.S. Intervention Policy
- Western Upturn
- Record Housing Boom in the 1980s?
- Opec, Inflation, and Monetary Policy
- The Lesson of Poincaré
- Pollution Pricing
- Banks and Foreign Exchange Markets
- Bailing Out Banks?
- Money, Inflation, and Interest Rates
- Aluminum Rebounding
- The McFadden Act : A Look Back
- Real Rates and Recovery
- Year of Reckoning
- Capital Risk of Large Banks
- Inventories and the Recovery
- Monetary Policy and LDC Debt
- Are Markets Really Efficient?
- '83 : Less Than Vintage Year
- Classical Reflections on the Deficit
- As the Dust Settles
- Space Age Monetary Theory
- Deficits, Interest Rates and the Economy
- Saving, Investment, and Deficits
- Jobs and Unemployment
- Financial Futures for Banks
- Accounting for Financial Futures
- Deregulation and Withdrawal Penalties
- International Financial Integration
- International Debt Management
- Origins
- The Aldrich Plan
- Interest-Rate Deregulation
- Misaligned Dollar
- Export Crowding Out
- Brighter Western Economy
- Some Implications of Deposit Deregulation
- Western Finance
- U.S. Recovery
- Reorganization?
- Airline Deregulation
- Comparing Inflation Forecasts
- Anatomy of the 1981-83 Disinflation
- Ending the Lag
- Lumber's Knotty Recovery
- Inflation and Capacity
- Which Trade Balance?
- World Money
- The New Protectionism
- Timber Contract Problems
- FDIC's Modified Payout Plan
- Firm Size, Exchange Rates, and Interest Rates
- Factors Influencing Long-Term Interest Rates
- Women's Wages
- Is the Government an Honest Borrower?
- Seasonal Revisions
- Deficits vs. Investment
- Budget Deficits and Foreign Savings
- Deregulation and Bank Profitability
- Oil Merger Worries
- The Federal Safety Net for Commercial Banks, Part I
- The Federal Safety Net for Commercial Banks, Part II
- Risk-Adjusted Deposit Insurance Premiums
- Bank Regulation and Deposit Insurance
- Market Expectations and Fed Policy
- Market Responses to Continental Illinois
- Financing Current Account Deficits
- Are Commodity Prices Foretelling Deflation?
- Unemployment vs. Employment
- Impervious Saving Behavior
- Call to Arms
- Fairness in Economics
- Insurance and Managing Bank Risk-Taking
- Beginnings
- A "Supply-Side Miracle"?
- The Formative Years
- Asset Quality and Western Bank Earnings
- Interest Rates and the Federal Deficit
- Inflation-Proof Long-Term Bonds
- Canadian Public and Private Saving
- Inflation : Retreating or Reheating?
- S&L Accounting
- New Limits for the New Year
- Deficits and Financial Change in the Pacific Basin
- Restructuring the S&L Industry
- China : A Visitor's Report
- The Flat Tax and Housing
- Impact of Current Fiscal Policy
- The Structure of Our Nation's Central Bank
- The Western Regional Economy
- Municipal Bond Behavior
- The Dollar and Policy Options
- Rules vs. Discretion in Controlling Money
- Budget Deficits, Interest Rates, and the Dollar
- U.S. Financial Reform : Historical Perspective
- Leading Economic Indicators
- Western Banking Turnaround
- An LDC Debt Update
- Views on Deficits and Interest Rates
- Alternative Leading Economic Indicators
- Swaps
- Japan's Financial Reform
- A Tale of Two Financial Reforms
- Western Agriculture and the Trade Balance
- Real Wages and Unemployment
- Monetary Policy and Velocity
- The Big Switch
- Interest Sensitivity of MMDAs
- Signaling the Fed's Intentions
- Deficit Projections vs. Deficit Forecasts
- Stock Prices of Large Banks
- The Joy of Interstate Banking : I
- The Joy of Interstate Banking : II
- Thrift Deregulation and the Mortgage Market
- A Monetary Cure for the High Dollar?
- Legislating Funds Availability
- Bank Entry and Deregulation
- Agricultural Credit Conditions
- Geographic Deposit Competition
- Risk in the Repo Market
- Signals From M1 and M2
- The Debt Problem : Evolution and Prospects
- Local Payroll Taxes and Local Employment
- Deposit Deregulation and the Behavior of M1
- The Semiconductor Industry
- Of Mice and Men
- In a Chinese Village
- Shopping Pays
- Examining the Recent Surge in M1
- The Baker Plan : A New Initiative
- Fannie Mae's New Standards
- Measuring the Dollar's Strength
- The September G-5 Meeting and Its Impact
- Farm Credit System
- Credit Card Controversy
- Takeovers : Good or Evil?
- Soft-Landing vs "Hard Fall"
- The National Economy in 1985
- Western Region
- Western Banking
- Base Drift
- The Largest Debtor Nation
- The Health of Banks and Thrifts
- Reconsidering Social Security
- The Great Discovery
- Tax-Free Bonds
- Stormy Weather
- The Contract Defense Industry in the West
- "Any Bonds Today?"
- Recent Bank Failures
- Is Competitive Banking Stable?
- Adjusting the Focus
- Interest on Business Checking Accounts?
- M1 and Monetary Policy
- Selling Government Assets
- Standby Letters of Credit
- Measuring Money
- OPEC and Oil Prices
- International Policy Coordination
- Leverage and Double Leverage in Banking
- A New Direction for Japan
- Securitization and Banking
- Tax Reform
- Are Banks Special?
- Bank Runs
- Projecting Deficits
- Oil and Alaska's Economy
- The NICs, the Dollar and U.S. Imports
- Monetary Policy in a Deregulated World
- In Dubious Battle
- Should Money Be Redefined?
- Ominous Trade Winds
- Forecasting Nevada's Economy
- The Outlook for Net Exports
- Tax Reform and Aggregate Spending
- Credit Insurance : Beauty or Beast?
- Office Building Boom and Bust
- Recapitalizing the FSLIC
- Slight Moderation in the Housing Cycle
- Three Views of Real Interest
- Interest Checking
- Interest Checking and M1
- The Wells Fargo-Crocker Acquisition
- Forecasting Oil Prices
- The Pass-Through Effect on U.S. Imports
- Does Opec Set Oil Prices?
- Banking Antitrust in Transition
- Irrigation and Water Quality
- ECU, Who?
- The Shift to Services
- Euromarkets and Monetary Policy
- Real Business Cycles
- The Western Region in 1986
- Investment Plans as Forecasts
- Oil Supply Shocks and the U.S. Economy
- Has the Dollar Depreciated?
- The Trade Balance and the Economic Outlook
- Downgrading M1
- Western Banking in 1986
- 2 + 2 = 4
- A Model Central Bank?
- Junk Bonds : Why Now?
- Transition
- Foreign Financial Institutions in Japan
- Trade and the Western Economy
- Mortgage Securitization & REMICs
- Assessing Bank Antitrust Standards
- Regulating Bank Capital
- Brave New World I
- Interest Rates and Exchange Rates
- Consumption, Oil Prices and the Dollar
- Uniting Investment and Commercial Banking
- The U.S. Economy and Monetary Policy
- A Deposit Insurance Puzzle
- Outlook for U.S. Agriculture
- Internationalization of the Yen
- Are Bank Loans Special?
- Acquisitions in Banking
- Money and the Fisher Effect
- Controlling Payments System Risk
- Made in the Western U.S.A
- Coordinating Policies with Japan
- LDC Debt Swaps
- Prop. 13 Nine Years Later
- Off-Balance Sheet Banking
- Where Are Banks Going?
- How Reliable Is M1A?
- NIF, SNIF, RUF, Gesundheit!
- FCS : At the Crossroad, Again
- Subordinated Debt as Bank Capital
- Foreign Capital Inflows
- The Great American Job Machine
- Interstate Banking in the West
- Is Exchange Risk Hedgable?
- Export Promoting Development Strategies
- Korea and Export-Led Growth
- Growing Pains
- Commerce and Banking : The German Case
- Immigration Reform and the West
- The Saving Shortfall
- Capital Flight and LDC Debt
- Do Deficits Matter?
- Bank Capital Regulation in the Early 1980s
- Troubled Banks and Thrifts
- Low Wage Inflation
- Monetary Policy, 1987
- A Stable Dollar?
- Modest Growth in West for 1987 and 1988
- The West's Role in Agricultural Production
- The Persistent Trade Deficit
- Legislation to Expand Bank Powers
- Changes in Bank Risk
- Swaps and Bank Exposure
- LDC Debt and Exports
- A Cashless Society?
- Monetary Policy in West Germany
- October Postmortem
- U.S. Banks and LDC Debt
- Divine Intervention?
- Resource Industry Outlook
- Oil and the Economy
- Corporate Separateness
- The Eurobond Market--Its Use and Misuse
- Temple Secrets
- Minimum Wage Rate
- Foreign Investment in the Pacific Basin
- Looking Forward
- State and National Economic Fluctuations
- Western Banking Recovery
- Accelerating Inflation?
- Toward Trade Blocs?
- 1992 : A United and Prosperous Europe?
- Drought and the West
- The Dollar and Manufacturing Output
- Specialists in the Stock Market
- States Take the Lead
- California's Minimum Wage
- Japan's Trade Surpluses
- LDC Lending After the Crisis
- Must the Dollar Fall?
- Deregulation in New Zealand
- Monetary Policy in New Zealand
- The Growing Presence of Japanese Banks
- Inflation in China
- Monetary Policy in the Pacific Basin
- The West : Slowing, But Still Strong
- Why Do Regions Grow?
- The Baffling Dollar
- Unlocking Gridlock
- Tax Reform and Bank Behavior
- The Economic Outlook for 1989
- Crude Oil and the Price of Unleaded Gasoline
- China's Choices
- Time to Give Credit Its Due?
- Are Housing Prices Too High?
- The California Deposit Rate Mystery
- Japan's Stock Market
- U.S.-Canada Free Trade
- Arizona's Slowdown
- Bank Charter Values and Risk
- Why Perestroika?
- The Yield Curve and Recessions
- Banks' Cost of Capital
- Reagan Fiscal Policy and the Dollar
- The Thrift Insurance Crisis
- Droughts and California Agriculture
- Interest Rate Smoothing
- Reforming Deposit Insurance
- Record Earnings for Western Banks
- The Economy in 1989 : On Track
- The FSLIC Bailout and the Economy
- The California-Mexico Agriculture Connection
- The Dollar Dilemma
- Home Equity Lending : Boon or Bane?
- How Good Is PPP?
- Commodity Prices and Inflation
- Whither China?
- Corporate Investment
- Rules and Monetary Policy
- What Makes a Central Bank Credible?
- Do Deficits Cause Inflation?
- Deposit Patterns at Western Banks and Thrifts
- Optimal Inflation
- Housing and Interest Rates : A Weaker Link?
- Why Do Regional Economies Differ?
- Financial Developments in Korea
- Why Are ATM Fees Rising?
- Eliminating Reserve Requirements
- Fiscal Policies and Exchange Rates
- Monetary Policies and Exchange Rates
- The Securitization of Lending Markets
- Deficits : Twins or Distant Cousins?
- Postwar Stability : Fact or Fiction?
- Pricing L.A.'s Pollution
- Bank Earnings and LDC Loss Reserves
- International Spillovers
- Interpreting Recent Growth in M2
- Eastward, Ho!
- Corporate Debt
- FIRREA and Deposit Insurance Reform
- Banks and High Leverage Debt
- A Fading Export Boom?
- Agricultural Lending in the West
- Do Banks Need Securities Powers?
- 1990s
- 2000s
- 2010s
- 2020s
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1996-present available from the Federal Reserve Bank of San Francisco.
1973-2023
Research Department, Federal Reserve Bank of San Francisco
No Copyright - United States (NoC-US)
Federal Reserve Bank of San Francisco
- lcc: HC101.F47
- ddc: 330.973 F3175Sf
- oclc: 34526016
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