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
- 1990s
- 2000s
- Measuring Interest Rate Risk for Mortgage-Related Assets
- REITs and the Integration between Capital Markets and Real Estate Markets
- Do Currency Unions Increase Trade? A "Gravity" Approach
- Volatility Spillovers in the U.S. Treasury Market
- How Fast Can the New Economy Grow?
- Measuring Available and Underutilized Labor Resources
- California's IPO Gold Rush
- Uncertainty and Monetary Policy
- Margin Requirements as a Policy Tool?
- The Gramm-Leach-Bliley Act and Financial Integration
- Inflation Targeting for the Bank of Japan?
- Global Financial Change and the Transformation of Banking in Post-Communist Countries : Principles and Parallels
- Structural Change and Monetary Policy
- Small California Banks Holding On
- Three Questions about "New Economy" Stocks
- Dollarization as a Technology Import
- Why Has the Fed Been Raising Interest Rates?
- The Composition of International Capital Flows
- Japan's Recession: Is the Liquidity Trap Back?
- Evaluating the Stock Market
- Exploring the Causes of the Great Inflation
- What Explains Capital Flows?
- B2B E-commerce in Residential Mortgages
- Should Central Banks Stabilize Prices?
- Have Californians Kept Up in the 1990s?
- Short-term International Borrowing and Financial Fragility
- Tech Stocks and House Prices in California
- Recent Declines in Work and Income among Men with Disabilities
- Does Pegging Increase International trade?
- Knightian Uncertainty and Home Bias
- Monetary Policy in a New Environment : The U.S. Experience
- Has Bank Performance Peaked?
- The Shipping News: Western Exports Rebound
- Information Technology and Productivity
- Patterns in the Foreign Ownership of U.S. Banking Assets
- California IPO Wealth Effects: What's Left?
- Should We Worry about the Large U.S. Current Account Deficit?
- East Asia: Recovery and Restructuring
- Will Inflation Targeting Work in Developing Countries?
- Retail Sweeps and Reserves
- Inflation: The 2% Solution
- Economic Impact of Rising Natural Gas Prices
- How Sluggish Is the Fed?
- The Return of the "Japan Premium" : Trouble Ahead for Japanese Banks?
- Financial Crises in Emerging Markets
- How Costly Are IMF Stabilization Programs?
- What's Different about Banks—Still?
- Uncertainties in Projecting Federal Budget Surpluses
- Rising Price of Energy
- Modeling Credit Risk for Commercial Loans
- The Science (and Art) of Monetary Policy
- The Future of the New Economy
- Japan's New Prime Minister and the Postal Savings System
- Monetary Policy and Exchange Rates in Small Open Economies
- The Stock Market: What a Difference a Year Makes
- Asset Prices, Exchange Rates, and Monetary Policy
- Update on the Economy
- Fiscal Policy and Inflation
- Capital Controls and Exchange Rate Stability in Developing Countries
- Productivity in Banking
- Federal Reserve Banks' Imputed Cost of Equity Capital
- Recent Research on Sticky Prices
- Capital Controls and Emerging Markets
- Transparency in Monetary Policy
- Natural Vacancy Rates in Commercial Real Estate Markets
- Unemployment and Productivity
- Has a Recession Already Started?
- Banking and the Business Cycle
- Quantitative Easing by the Bank of Japan
- Information Technology and Growth in the Twelfth District
- Rising Junk Bond Yields : Liquidity or Credit Concerns?
- Financial Instruments for Mitigating Credit Risk
- The U.S. Economy after September 11
- The Economic Return to Health Expenditures
- Financial Modernization and Banking Theories
- Subprime Mortgage Lending and the Capital Markets
- Competition and Regulation in the Airline Industry
- What Is Operational Risk?
- Is There a Role for International Policy Coordination?
- Profile of a Recession—The U.S. and California
- ETC (embodied technological change), etc.
- Recession in the West : Not a Rerun of 1990-1991
- Predicting When the Economy Will Turn
- The Changing Budget Picture
- What's Behind the Low U.S. Personal Saving Rate?
- Inferring Policy Objectives from Policy Actions
- Macroeconomic Models for Monetary Policy
- Is There a Credit Crunch?
- House Price Dynamics and the Business Cycle
- Deposit Insurance Reform—When Half a Loaf Is Better
- Off-Site Monitoring of Bank Holding Companies
- Searching for Value in the U.S. Stock Market
- Reforming China's Banking System
- Country Crises and Corporate Failures : Lessons for Prevention and Management?
- Towards a Sovereign Debt Restructuring Mechanism
- Productivity in Heart Attack Treatments
- Trends in the Concentration of Bank Deposits: The Northwest
- Using Chain-Weighted NIPA Data
- Technical Change and the Dispersion of Wages
- On the Move : California Employment Law and High-Tech Development
- Argentina's Currency Crisis: Lessons for Asia
- The Role of Fiscal Policy
- Why Do Americans Still Write Checks?
- Japan Passes Again on Fundamental Financial Reform
- Can the Phillips Curve Help Forecast Inflation?
- Setting the Interest Rate
- Learning from Argentina's Crisis
- Stock Market Volatility
- Productivity in the Twelfth District
- Riding the IT Wave : Surging Productivity Growth in the West
- Recent Trends in Unemployment Duration
- The Promise and Limits of Market Discipline in Banking
- Bank Security Prices and Market Discipline
- Financial Issues in the Pacific Basin Region : Conference Summary
- Using Equity Market Information to Monitor Banking Institutions
- Increased Stability in Twelfth District Employment Growth
- How Financial Firms Manage Risk
- Where to Find the Productivity Gains from Innovation?
- Extended Unemployment in California
- House Price Bubbles
- Economic Prospects for the U.S. and California : A Monetary Policymaker's View
- Technological Change
- Shifting Household Assets in a Bear Market
- Time-Inconsistent Monetary Policies : Recent Research
- Foreign Exchange Reserves in East Asia : Why the High Demand?
- Finance and Macroeconomics
- What Monetary Regime for Post-War Iraq?
- Minding the Speed Limit
- What Makes the Yield Curve Move?
- Underfunding of Private Pension Plans
- Growth in the Post-Bubble Economy
- Financial Development, Productivity, and Economic Growth
- Pension Accounting and Reported Earnings
- Is Official Foreign Exchange Intervention Effective?
- Bank Lending to Businesses in a Jobless Recovery
- Disclosure as a Supervisory Tool : Pillar 3 of Basel II
- Understanding State Budget Troubles
- Improving the Way We Measure Consumer Prices
- The Present and Future of Pension Insurance
- Are We Running out of New Ideas? A Look at Patents and R&D
- The Fiscal Problem of the 21st Century
- Earnings Inequality and Earnings Mobility in the U.S.
- Mortgage Refinancing
- Is Our IT Manufacturing Edge Drifting Overseas?
- Good News on Twelfth District Banking Market Concentration
- The Natural Rate of Interest
- The Bay Area Economy: Down but Not Out
- Should the Fed React to the Stock Market?
- Monitoring Debt Market Information for Bank Supervisory Purposes
- Japanese Foreign Exchange Intervention
- The Current Strength of the U.S. Banking Sector
- Is There a Digital Divide?
- U.S. Monetary Policy: An Introduction : How is the Fed structured and what are its policy tools?, Part 1
- U.S. Monetary Policy: An Introduction : What are the goals of U.S. monetary policy?, Part 2
- U.S. Monetary Policy: An Introduction : How Does Monetary Policy Affect the U.S. Economy?, Part 3
- U.S. Monetary Policy: An Introduction : How does the Fed decide the appropriate setting for the policy instrument?, Part 4
- Precautionary Policies
- Resolving Sovereign Debt Crises with Collective Action Clauses
- Technology, Productivity, and Public Policy
- Understanding Deflation
- Do Differences in Countries' Capital Composition Matter?
- Workplace Practices and the New Economy
- Can International Patent Protection Help a Developing Country Grow?
- Globalization: Threat or Opportunity for the U.S. Economy?
- Interest Rates and Monetary Policy : Conference Summary
- Policy Applications of a Global Macroeconomic Model
- Banking Consolidation
- Has the CRA Increased Lending for Low-Income Home Purchases?
- New Keynesian Models and Their Fit to the Data
- The Productivity and Jobs Connection : The Long and the Short Run of It
- The Computer Evolution
- Monetary and Financial Integration : Evidence from the EMU
- Does a Fall in the Dollar Mean Higher U.S. Consumer Prices?
- Measuring the Costs of Exchange Rate Volatility
- Two Measures of Employment: How Different Are They?
- City or Country: Where Do Businesses Use the Internet?
- Exchange Rate Movements and the U.S. International Balance Sheet
- Supervising Interest Rate Risk Management
- House Prices and Fundamental Value
- Gauging the Market's Expectations about Monetary Policy
- Consumer Sentiment and the Media
- Inflation-Induced Valuation Errors in the Stock Market
- Reflections on China's Economy
- Does Locale Affect R&D Productivity? The Case of Pharmaceuticals
- Easing Out of the Bank of Japan's Monetary Easing Policy
- Outsourcing by Financial Services Firms : The Supervisory Response
- October 6, 1979
- What Determines the Credit Spread?
- Productivity Growth and the Retail Sector
- After the Asian Financial Crisis : Can Rapid Credit Expansion Sustain Growth?
- To Float or Not to Float? Exchange Rate Regimes and Shocks
- Help-Wanted Advertising and Job Vacancies
- Emerging Markets and Macroeconomic Volatility : Conference Summary
- Productivity and Inflation
- Gains in U.S. Productivity : Stopgap Measures or Lasting Change?
- Financial Liberalization: How Well Has It Worked for Developing Countries?
- A Tale of Two Monetary Policies : Korea and Japan
- The Long-term Interest Rate Conundrum: Not Unraveled Yet?
- Can Monetary Policy Influence Long-term Interest Rates?
- More Life vs. More Goods : Explaining Rising Health Expenditures
- Are State R&D Tax Credits Constitutional? An Economic Perspective
- Fiscal and Monetary Policy : Conference Summary
- IT Investment: Will the Glory Days Ever Return?
- Stress Tests: Useful Complements to Financial Risk Models
- Age and Education Effects on the Unemployment Rate
- Understanding the Twin Deficits : New Approaches, New Results
- What If Foreign Governments Diversified Their Reserves?
- Monetary Policy and Asset Price Bubbles
- Does Europe's Path to Monetary Union Provide Lessons for East Asia?
- Credit Union Failures and Insurance Fund Losses : 1971-2004
- Housing Markets and Demographics
- Policymaking on the FOMC : Transparency and Continuity
- A Look at China's New Exchange Rate Regime
- Why Has Output Become Less Volatile?
- Inflation Expectations : How the Market Speaks
- The Rise and Spread of State R&D Tax Credits
- Estimating the "Neutral" Real Interest Rate in Real Time
- Oil Price Shocks and Inflation
- Economies of Scale and Continuing Consolidation of Credit Unions
- Spendthrift Nation
- Why Hasn't the Jump in Oil Prices Led to a Recession?
- The Bretton Woods System: Are We Experiencing a Revival? : Symposium Summary
- Uncertainty and Monetary Policy
- Recent Policy Issues Regarding Credit Risk Transfer
- Shifting Data: A Challenge for Monetary Policymakers
- Bank ATMs and ATM Surcharges
- The Diffusion of Personal Computers across the U.S.
- Do Oil Futures Prices Help Predict Future Oil Prices?
- 2006: A Year of Transition at the Federal Reserve
- Productivity Growth: Causes and Consequences : Conference Summary
- Postal Savings in Japan and Mortgage Markets in the U.S.
- External Imbalances and Adjustment in the Pacific Basin : Conference Summary
- Enhancing Fed Credibility
- What Is the Federal Reserve Banks' Imputed Cost of Equity Capital?
- Security Analysts and Regulatory Reform
- Job Matching: Evidence from the Beveridge Curve
- Prospects for the Economy
- Bank Diversification, Economic Diversification?
- Central Bank Capital, Financial Strength, and the Bank of Japan
- Monetary Policy in a Global Environment
- International Financial Integration and the Current Account Balance
- Residential Investment over the Real Estate Cycle
- A Monetary Policymaker's Passage to India
- Labor Markets and the Macroeconomy : Conference Summary
- Property Debt Burdens
- Performance Divergence of Large and Small Credit Unions
- Would an Inflation Target Help Anchor U.S. Inflation Expectations?
- New Uses for New Macro Derivatives
- Inflation Targets and Inflation Expectations : Some Evidence from the Recent Oil Shocks
- The Exchange Rate-Consumer Price Puzzle
- Oil Prices and the U.S. Trade Deficit
- Health Insurance Costs and Declining Coverage
- Safe and Sound Banking, 20 Years Later
- Inflation Persistence in an Era of Well-Anchored Inflation Expectations
- Did Quantitative Easing by the Bank of Japan "Work"?
- What Are the Risks to the United States of a Current Account Reversal?
- The Rise in Homeownership
- Interest Rates, Carry Trades, and Exchange Rate Movements
- Is a Recession Imminent?
- Economic Inequality in the United States
- The Mystery of Falling State Corporate Income Taxes
- The Geographic Scope of Small Business Lending : Evidence from the San Francisco Market
- Will Moderating Growth Reduce Inflation?
- Mortgage Innovation and Consumer Choice
- Concentrations in Commercial Real Estate Lending
- Disentangling the Wealth Effect : Some International Evidence
- Monetary Policy Inertia and Recent Fed Actions
- 2006 Annual Pacific Basin Conference : Summary
- Financial Innovations and the Real Economy : Conference Summary
- Update on China : A Monetary Policymaker's Report
- Prospects for China's Corporate Bond Market
- The U.S. Productivity Acceleration and the Current Account Deficit
- Will Fast Productivity Growth Persist?
- Do Monetary Aggregates Help Forecast Inflation?
- U.S. Supervisory Standards for Operational Risk Management
- Monetary Policy, Transparency, and Credibility : Conference Summary
- Anxious Workers
- House Prices and Subprime Mortgage Delinquencies
- On Forecasting Future Monetary Policy : Has Forward-Looking Language Mattered?
- Credit Unions, Conversions, and Capital
- The Narrowing of the Male-Female Wage Gap
- The Costs and Value of New Medical Technologies : Symposium Summary
- The U.S. Economy and Monetary Policy
- What We Do and Don't Know about the Term Premium
- Regional Economic Conditions and Community Bank Performance
- Trends in Bay Area IT Employment
- Are Global Prices Converging or Diverging?
- Changing Productivity Trends
- Recent Financial Developments and the U.S. Economic Outlook
- Changes in Income Inequality across the U.S.
- Internal Risk Models and the Estimation of Default Probabilities
- Relative Comparisons and Economics : Empirical Evidence
- Corporate Access to External Financing
- Asset Price Bubbles
- Labor Force Participation and the Prospects for U.S. Growth
- Financial Globalization and Monetary Policy
- Fixing the New Keynesian Phillips Curve
- The U.S. Economy and Monetary Policy
- Sovereign Wealth Funds : Stumbling Blocks or Stepping Stones to Financial Globalization?
- Publishing FOMC Economic Forecasts
- Publishing Central Bank Interest Rate Forecasts
- 2007 Annual Pacific Basin Conference : Summary
- Prospects for the Economy in 2008
- Recent Trends in Economic Volatility : Conference Summary
- Economic Conditions in Singapore and Vietnam : A Monetary Policymaker's Report
- The Economics of Private Equity Investments : Symposium Summary
- Assessing Employment Growth in 2007
- The Corporate Bond Credit Spread Puzzle
- Falling House Prices and Rising Time on the Market
- Are Global Imbalances Due to Financial Underdevelopment in Emerging Economies?
- The Financial Markets, Housing, and the Economy
- Small Business Lending and Bank Competition
- Retirement Savings and Decision Errors : Lessons from Behavioral Economics
- Did Large Recalls of Chinese Consumer Goods Lower U.S. Imports from China?
- Speculative Bubbles and Overreaction to Technological Innovation
- Consumer Sentiment and Consumer Spending
- Research on the Effects of Fiscal Stimulus : Symposium Summary
- Monetary Policy and Asset Markets : Conference Summary
- Can Young Americans Compete in a Global Economy?
- Unanchored Expectations? Interpreting the Evidence from Inflation Surveys
- How and Why Does Age at Kindergarten Entry Matter?
- Treasury Bond Yields and Long-Run Inflation Expectations
- Regional Variation in the Potential Economic Effects of Climate Change
- Summer Reading: New Research in Applied Microeconomics Conference Summary
- The U.S. Economic Situation and the Challenges for Monetary Policy
- The EMU Effect on the Currency Denomination of International Bonds
- Oil Prices and Inflation
- Sectoral Reallocation and Unemployment
- What Is Liquidity Risk?
- Monetary Policy and Asset Prices
- The Mortgage Meltdown, Financial Markets, and the Economy
- Convergence of Long-Term Bond Yields in the Euro Area
- Economic Conditions in Korea and Japan : A Monetary Policymaker's Report
- U.S. Monetary Policy Objectives in the Short and Long Run
- The Tech Pulse Index : Recent Trends in Tech-Sector Activity
- Behavior of Libor in the Current Financial Crisis
- Labor Supply Responses to Changes in Wealth and Credit
- House Prices and Bank Loan Performance
- Out-of-Market Small Business Loans
- Tax Credits for Job Creation and Retention : What Can We Learn from the States?
- How Will a Credit Crunch Affect Small Business Finance?
- 2008 Annual Pacific Basin Conference : Summary
- The Outlook for Productivity Growth : Symposium Summary
- The Risk of Deflation
- Interprovincial Inequality in China
- Are Fiscal Stimulus Funds Going to the "Right" States?
- A Minsky Meltdown : Lessons for Central Bankers
- U.S. Household Deleveraging and Future Consumption Growth
- The Fed's Monetary Policy Response to the Current Crisis
- Jobless Recovery Redux?
- How Big Is the Output Gap?
- Fighting Downturns with Fiscal Policy
- Employer Health Benefits and Insurance Expansions : Hawaii's Experience
- A View of the Economic Crisis and the Federal Reserve's Response
- Macroeconomic Models for Monetary Policy : Conference Summary
- Did Welfare Reform Work for Everyone? A Look at Young Single Mothers
- Have the Fed Liquidity Facilities Had an Effect on Libor?
- Growth Accounting, Potential Output, and the Current Recession
- Credit Market Conditions and the Use of Bank Lines of Credit
- New Highs in Unemployment Insurance Claims
- Predicting Crises, Part I : Do Coming Crises Cast Their Shadows Before?
- Predicting Crises, Part II : Did Anything Matter (to Everybody)?
- Disagreement about the Inflation Outlook
- Gauging Aggregate Credit Market Conditions
- Recent Developments in Mortgage Finance
- Inflation Expectations and the Risk of Deflation
- Talking about Tomorrow's Monetary Policy Today
- Linkages between Monetary and Regulatory Policy : Lessons from the Crisis
- Capital Structure in Banking
- Bank Relationships and the Depth of the Current Economic Crisis
- 2010s
- 2020s
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Federal Reserve Bank of San Francisco.
1996-present available from the1973-2023
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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Federal Reserve Bank of San Francisco. Economic Letter (Federal Reserve Bank of San Francisco). San Francisco: Research Department, Federal Reserve Bank of San Francisco, 1973-2023. https://fraser.stlouisfed.org/title/4960, accessed on September 13, 2024.