Journal Article
Reforming the raters : can regulatory reforms adequately realign the incentives of credit rating agencies?
Courtois, Renee (2009-04)
Related link(s): https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/spring/cover_weblinks.cfm
Econ Focus , Volume 13 , Issue Spr , Pages 14-19

Journal Article
Jargon alert : Leading indicators
Courtois, Renee (2010-04)
Related links : https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q2/jargon_alert_weblinks.cfm
Econ Focus , Volume 14 , Issue 2Q , Pages 8

Journal Article
Nobody's home : weighing the prospects for neighborhoods hit hard by foreclosure
Courtois, Renee (2010-01)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q1/feature3_weblinks.cfm
Econ Focus , Volume 14 , Issue 1Q , Pages 22-26

Briefing
Is a new asset bubble emerging in certain markets?
Gaines, Brian; Hatchondo, Juan Carlos; Courtois, Renee (2010-02)
Some economists have argued that recent rallies in certain asset markets ? most notably, commodities and emerging market equities ? represent the emergence of a new bubble fueled by accommodative monetary policy and carry trade activity. There is evidence, though, that the rallies can be explained by strong economic fundamentals in these markets.
Richmond Fed Economic Brief , Issue Feb

Journal Article
Clear skies : the fight for dominance in the airline industry
Courtois, Renee (2009-04)
Related link(s): https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/spring/feature3_weblinks.cfm
Econ Focus , Volume 13 , Issue Spr , Pages 26-29

Briefing
The case for direct methods to address CO2 emissions and other negative environmental externalities
Athreya, Kartik B.; Courtois, Renee (2009-10)
Existing policies to reduce emissions of carbon dioxide (CO2) largely have been structured to subsidize alternative energy technologies. Yet these policies are likely not to be as useful as ones that target CO2 emissions directly, such as an emissions tax or a "cap and trade" program.
Richmond Fed Economic Brief , Issue Oct

Briefing
The effect of interest on reserves on monetary policy
Courtois, Renee; Walter, John R. (2009-12)
In October 2008 the Federal Reserve began paying banks interest on the reserves they hold. This action was intended to remove the implicit, distortionary tax that reserve requirements impose on banks, as well as help the Fed maintain the fed funds rate at its target. Going forward, interest on reserves is likely to simplify monetary policy implementation, as well as allow the Fed to pursue separate monetary and credit policies.
Richmond Fed Economic Brief , Issue Dec

Briefing
Recent fiscal policy and the manipulation of aggregate economic activity
Athreya, Kartik B.; Courtois, Renee (2009-08)
It is widely believed that public sector spending and investment can restore aggregate economic activity to efficient levels. But some policy responses are likely to be more successful than others. In particular, directly targeting frictions in capital, labor, and insurance markets arguably provides the best chances of improving welfare.
Richmond Fed Economic Brief , Issue Aug

Briefing
What we do and don't know about discretionary fiscal policy
Courtois, Renee (2009-04)
There is a lack of consensus about the effects fiscal policy measures may have during a recession. But we can draw some general conclusions from economic theory.
Richmond Fed Economic Brief , Issue Apr

Briefing
When did the recession end?
Courtois, Renee (2010-08)
Although the National Bureau of Economic Research has not yet officially announced the end of the recession that started in December 2007, the data series commonly used to date recessions seem to preliminarily suggest that it ended in the middle of last year. However, certain areas of the economy, particularly employment and personal income, remain relatively sluggish.
Richmond Fed Economic Brief , Issue Aug