The Economic Review is a quarterly research publication
with articles by Federal Reserve Bank of Kansas City staff on issues of relevance to the Federal Reserve,
including macroeconomics and monetary policy, regional and international economics,
banking, financial markets, and payments systems. For paper copies of previous
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Articles Organized
by
year or by topic:
Banking and financial markets
| Monetary policy and
macroeconomics |
Speeches and symposium presentations | International economics
| Payments Systems | Regional/rural/agricultural economics
2009
Was Monetary Policy Optimal During Past Deflation Scares?
Roberto M. Billi
(Summary
| Article PDF 858K)
Beyond Inflation Targeting: Should Central
Banks Target the Price Level?
George A. Kahn
(Summary
| Article PDF 455K)
How Will Unemployment Fare Following the Recession?
Edward S. Knotek II
and
Stephen Terry
Financial Stress: What Is It, How
Can It Be Measured, and Why Does It Matter?
Craig S. Hakkio and
William R. Keeton
2008
Detecting Recessions in the
Great Moderation: A Real-Time Analysis
Troy Davig (Summary | Article
PDF 975K)
The Affordability of Homeownershp to Middle-Income Americans
Jordan Rappaport (Summary | Article
PDF 569K)
Monetary Policy Transparency and Private Sector Forecasts: Evidence
from Survey Data
Gordon H. Sellon, Jr.
(Summary |
Article
PDF 842K)
Is Commercial Real Estate Reliving the 1980s and 1990s?
C. Alan Garner
(Summary |
Article
PDF 826K)
What Is the Optimal Inflation Rate?
Roberto M. Billi and George A. Kahn
(Summary |
Article
PDF 407K)
Maintaining Stability in a Changing
Financial System: Some Lessons Relearned Again?
Thomas M. Hoenig
(Summary |
Article
PDF 122K)
Has the Behavior of Inflation and Long-Term Inflation Expectations
Changed?
Todd E. Clark and Taisuke Nakata
(Summary |
Article
PDF 1,024K)
PCE and CPI Inflation Differential: Converting Inflation Forecasts
Craig S. Hakkio
(Summary |
Article
PDF 506K)
2007
How Useful is Okun's Law?
Edward S. Knotek, II, Fourth Quarter
(Summary |
Article
PDF 364K)
Booms and Busts: The Case of Subprime Mortgages
Edward M. Gramlich, Fourth Quarter
(Summary |
Article
PDF 51K)
Rising Foreclosures in the United States: A Perfect Storm
Kelly D. Edmiston and Roger Zalneraitis, Fourth Quarter
(Summary |
Article
PDF 294K)
The Role of Money in Monetary Policy: Why Do the Fed and ECB See It So
Differently?
George A. Kahn and Scott Benolkin, Third Quarter
(Summary |
Article
PDF 294K)
Work and Taxes: Allocation of Time in OECD Countries
Lee Ohanian, Andrea Raffo, and Richard Rogerson, Third Quarter
(Summary |
Article
PDF 194K)
A Guide to Aggregate House Price Measures
Jordan Rappaport, Second Quarter
(Summary |
Article
PDF 167K)
Communicating a Policy Path: The Next Frontier in Central Bank
Transparency?
George A. Kahn, First Quarter (Summary |
Article
PDF 106K)
What Happened to the Gains From Strong Productivity Growth?
Jonathan L. Willis and Julie Wroblewski (Summary |
Article
PDF 111K)
2006
Middle-Income Tax Rates: Trends and Prospects
Troy A. Davig and
C. Alan Garner, Fourth Quarter (Summary |
Article
PDF 186K)
Should the Decline in the Personal Saving Rate Be a Cause for Concern?
C. Alan Garner, Second Quarter (Summary |
Article
PDF 121K)
Liquidity Risk Premia and Breakeven Inflation Rates
Pu Shen, Second Quarter (Summary |
Article
PDF 125K)
Social Security and Medicare: The Impending Fiscal
Challenge
Craig Hakkio and Elisha Wiseman, First Quarter (Summary |
Article
PDF 263K)
The Trend Growth Rate of Employment: Past, Present, and
Future
Todd E. Clark and Taisuke Nakata, First Quarter (Summary |
Article
PDF 258K)
2005
Longer-Term Perspective on
the Yield Curve and Monetary Policy
Sharon Kozicki and Gordon H.
Sellon Jr., Fourth Quarter
(Summary | Article
PDF 213K)
Does Immigration Reduce
Imbalances Among Labor Markets or Increase Them? Evidence from Recent
Migration Flows
William R. Keeton and Geoffrey B. Newton, Fourth Quarter
(Summary | Article
PDF 180K)
Jobless Recoveries and the
Wait-and-See Hypothesis
Stacey L. Schreft, Aarti Singh, and Ashley
Hodgson, Fourth Quarter
(Summary | Article
PDF 170K)
Consumption Taxes: Macroeconomic Effects and Policy Issues
C. Alan Garner, Second Quarter
(Summary | Article
PDF 170K)
2004
Expectations and the Monetary Policy
Transmission Mechanism
Gordon H. Sellon, Jr., Fourth Quarter
(Summary |
Article
PDF 271K)
Offshoring in the Service Sector: Economic Impact and Policy Issues
C. Alan Garner, Third Quarter (Summary | Article
PDF 228K)
An Evaluation of the Decline in Goods Inflation
Todd E. Clark, Second Quarter (Summary | Article
PDF 296K)
What Impact Will E-Commerce Have on the U.S. Economy?
Jonathan L. Willis, Second Quarter (Summary
| Article
PDF 193K)
How Do Data Revisions Affect the Evaluation and Conduct of Monetary Policy?
Sharon Kozicki, First Quarter (Summary
| Article
PDF 343K)
Real-time CBO data used in the article
(Excel, 144K)
2003
Monetary Policy and the Zero Bound: Policy Options When Short-Term Rates Reach Zero
Gordon H. Sellon, Jr., Fourth Quarter
(Summary | Article
PDF 276K)
A Closer Look at Jobless Recoveries
Stacey L. Schreft and Aarti Singh, Second Quarter
(Summary | Article
PDF 101K)
Implications
of Structural Changes in the U.S. Economy for Pricing Behavior and
Inflation Dynamics
Jonathan L. Willis, First Quarter (Summary | Article
PDF 144K)
2002
The Puzzle of Later Male Retirement
Richard Johnson, Third Quarter
(Summary | Article
PDF 106K)
Consumer Confidence After September 11
C. Alan Garner, Second Quarter (Summary | Article
PDF 195K)
The Changing U.S. Financial System: Some Implications for
the Monetary Transmission Mechanism
Gordon H. Sellon, Jr., First Quarter
(Summary | Article
PDF 202K)
2000
Monetary Policy and Asset Prices
Andrew J. Filardo, Third Quarter (Summary | Article
PDF 248K)
The Role of Forecasts in Monetary Policy
Jeffery D. Amato and Thomas Laubach, Second Quarter
(Summary | Article
PDF 86K)
The Discount Window: Time for Reform?
Craig S. Hakkio and Gordon H. Sellon, Jr., Second Quarter
(Summary | Article
PDF 227K)
An Inflation Report for 1999
C. Alan Garner, First Quarter (Summary | Article
PDF 106K)
1999 A Comparison of the CPI and the PCE Price
Index
Todd E. Clark, Third Quarter (Summary | Article
PDF 163K)
The Value of Interest Rate Smoothing: How
the Private Sector Helps the Federal Reserve
Jeffery D. Amato and Thomas Laubach, Third Quarter
(Summary | Article
PDF 120K)
How Useful Are Taylor Rules for Monetary
Policy?
Sharon Kozicki, Second Quarter
(Summary | Article
PDF 358K)
How Reliable Are Recession Prediction
Models?
Andrew J. Filardo, Second Quarter
(Summary | Article
PDF 300K)
Progress Toward Price Stability: A 1998
Inflation Report
C. Alan Garner, First Quarter
(Summary | Article
PDF 115K)
1998 The Longevity of Expansions
Joseph H. Haimowitz, Fourth Quarter (Summary | Article
PDF 134K)
How Important Is the Inflation Risk Premium?
Pu Shen, Fourth Quarter (Summary | Article
PDF 106K)
Conducting Monetary Policy with Inflation
Targets
George A. Kahn and Klara Parrish, Third Quarter
(Summary | Article
PDF 342K)
New Evidence on the Output Cost of
Fighting Inflation
Andrew J. Filardo, Third Quarter
(Summary | Article
PDF 225K)
A Closer Look at the Employment Cost Index
C. Alan Garner, Third Quarter (Summary | Article
PDF 166K)
Has the Surge in Computer Spending
Fundamentally Changed the Economy?
Joseph H. Haimowitz, Second Quarter
(Summary | Article
PDF 93K)
Progress Toward Price Stability: A 1997
Inflation Report
Todd E. Clark, First Quarter
(Summary | Article
PDF 72K)
1997 Predicting Real Growth and Inflation with
the Yield Spread
Sharon Kozicki, Fourth Quarter
(Summary | Article
PDF 129K)
Social Security Privatization: Balancing
Efficiency and Fairness
C. Alan Garner, Third Quarter
(Summary | Article
PDF 91K)
Does the Yield Spread
Predict Real Economic Activity? Multicountry Analysis
Catherine Bonser-Neal and Timothy R. Morley, Third Quarter
(Summary | Article
PDF 94K)
Monetary Policy Without Reserve
Requirements: Case Studies and Options for the United States
Gordon H. Sellon, Jr. and Stuart E. Weiner, Second Quarter
(Summary | Article
PDF 575K)
Cyclical Implications of the Declining
Manufacturing Employment Share
Andrew J. Filardo, Second Quarter
(Summary | Article
PDF 248K)
U.S. Inflation Developments in 1996
Todd E. Clark, First Quarter (Summary | Article
PDF 157K)
The Productivity Growth Slowdown:
Diverging Trends in the Manufacturing and Service Sectors
Sharon Kozicki, First Quarter (Summary | Article
PDF 88K)
1996 Monetary Policy Without Reserve Requirements:
Analytical Issues
Gordon H. Sellon, Jr. and Stuart E. Weiner, Fourth Quarter
(Summary | Article
PDF 378K)
Can Measures of the Consumer Debt Burden
Reliably Predict an Economic Slowdown?
C. Alan Garner, Fourth Quarter
(Summary | Article
PDF 73K)
How Would a Flat Tax Affect Small Businesses?
John E. Golob, Third Quarter (Summary | Article
PDF 100K)
The Outlook for Housing: The Role of
Demographic and Cyclical Factors
Andrew J. Filardo, Third Quarter
(Summary | Article
PDF 147K)
The Long-Run Costs of Moderate Inflation
Gregory D. Hess and Charles S. Morris, Second Quarter
(Summary | Article
PDF 262K)
U.S. Inflation Developments in 1995
Todd E. Clark, First Quarter (Summary | Article
PDF 177K)
1995 Has the Productivity Trend Steepened in
the 1990s?
Andrew J. Filardo, Fourth Quarter
(Summary | Article
PDF 137K)
Monetary Policy Actions and Long-Term
Interest Rates
V. Vance Roley and Gordon H. Sellon, Jr., Fourth Quarter
(Summary | Article
PDF 143K)
Do Producer Prices Lead Consumer Prices?
Todd E. Clark, Third Quarter (Summary | Article
PDF 150K)
How Useful Are Leading Indicators of
Inflation?
C. Alan Garner, Second Quarter
(Summary | Article
PDF 106K)
Challenges to the Natural Rate Framework
Stuart E. Weiner, Second Quarter (Summary | Article
PDF 43K)
Recent Evidence on the Muted Inventory
Cycle
Andrew J. Filardo, Second Quarter
(Summary | Article
PDF 133K)
Bank Lending and Monetary Policy: Evidence
on a Credit Channel
Charles S. Morris and Gordon H. Sellon, Jr., Second Quarter
(Summary | Article
PDF 123K)
Progress Toward Price Stability: A Report Card
for 1994
George A. Kahn, First Quarter
(Summary | Article
PDF 94K)
1994 Capacity Utilization and U.S. Inflation
C. Alan Garner, Fourth Quarter (Summary | Article
PDF 98K)
The Natural Rate and Inflationary Pressures
Stuart E. Weiner, Third Quarter (Summary | Article
PDF 36K)
Nominal GDP Targeting Rules: Can They
Stabilize the Economy?
Todd E. Clark, Third Quarter
(Summary | Article
PDF 120K)
Does Inflation Uncertainty Increase with
Inflation?
John E. Golob, Third Quarter
(Summary | Article
PDF 98K)
Achieving Price Stability: A 1993 Report Card
George A. Kahn, First Quarter (Summary | Article
PDF 81K)
Fiscal Policies Aimed at
Spurring Capital Formation: A Framework for Analysis
Robert S. Chirinko and Charles Morris, First Quarter
(Summary | Article
PDF 72K)
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