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Economic Review

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 issues of the Economic Review you can order online. To receive e-mail notification when new Economic Review articles are posted, sign up in our E-alert system.

Additional articles by year or by topic
 
Second Quarter 2009

Financial Stress: What Is It, How Can It Be Measured, and Why Does It Matter?
Craig S. Hakkio and William R. Keeton     (Summary  |   Article   PDF 680K)

Characteristics of High Foreclosure Neighborhoods in the Tenth District
Kelly D. Edmiston         (Summary  |   Article   PDF 1.06 mb)

Do State Corporate Income Taxes Reduce Wages?
Alison Felix         (Summary  |   Article   PDF 918K)

Recession and Recovery Across the Nation: Lessons from History
Chad R. Wilkerson         (Summary  |   Article   PDF 753K)

First Quarter 2009

Has Multi-Market Banking Changed the Response of Small Business Lending to Local Economic Shocks?
William R. Keeton        (Summary |  Article  PDF 413K)

Do U.S. Consumers Really Benefit from Payment Card Rewards?
Fumiko Hayashi           (Summary  |  Article   PDF 526K)

Recession Catches Rural America
Jason Henderson and Maria Akers    (Summary  |  Article   PDF 623K)

Developing a Liquid Market for Inflation-Indexed Government Securities: Lessons from Earlier Experiences
Pu Shen           (Summary  |  Article   PDF 352K)
Fourth Quarter 2008

Detecting Recessions in the Great Moderation: A Real-Time Analysis
Troy Davig          (Summary  |  Article  PDF 975K)

The Federal Reserve's Role in Retail Payments: Adapting to a New Environment
Stuart E. Weiner    (Summary  |  Article  PDF 199K)

The Affordability of Homeownershp to Middle-Income Americans
Jordan Rappaport    (Summary  |  Article  PDF 569K)

Can Markets Improve Water Allocation in Rural America?
Jason Henderson and Maria Akers    (Summary  |  Article  PDF 521K)
Third Quarter 2008

Monetary Policy Transparency and Private Sector Forecasts: Evidence from Survey Data
Gordon H. Sellon, Jr.    (Summary  |  Article  PDF 842K)

Can Smart Cards Reduce Payments Fraud and Identity Theft?
Richard J. Sullivan   (Summary | Article  PDF 219K)

The Growth and Volatility of State Tax Revenue Sources in the Tenth District
R. Alison Felix   (Summary | Article  PDF 664K)

Is Commercial Real Estate Reliving the 1980s and Early 1990s?
C. Alan Garner   (Summary | Article  PDF 826K)
Second Quarter 2008

What Is the Optimal Inflation Rate?
Roberto M. Billi and George A. Kahn   (Summary  |  Article  PDF 407K)

Understanding the Effects of the Merger Boom on Community Banks
 Julapa Jagtiani   (Summary | Article  PDF 447K)

How Is the Rise in National Defense Spending Affecting the Tenth District Economy?
Chad R. Wilkerson and Megan D. Williams   (Summary | Article  PDF 1,114K)

Will Farmland Values Keep Booming?
Jason Henderson   (Summary | Article  PDF 1,227K)
First Quarter 2008

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)

Will Rural Prosperity Prevail in 2008?
Jason Henderson and Maria Akers (Summary | Article  PDF 556K)