Search Results
Journal Article
Do African Americans prefer to live in segregated communities?
Following Hurricane Katrina, many people were shocked by the extent of racial segregation in the New Orleans housing market. And yet, New Orleans is far from an isolated case. Forty years after passage of the Fair Housing Act, racially segregated neighborhoods are all too common in the United States. The reasons usually offered for this continued segregation include discrimination in the real estate and housing markets. Recently, these reasons have been challenged by a theory claiming that segregation exists because African Americans prefer to live together for positive reasons, such as to ...
Working Paper
The differential regional effects of monetary policy: evidence from the U.S. States
This paper uses time-series techniques to examine whether monetary policy has similar effects across U.S. states during the 1958-92 period. Impulse response functions from estimated structural vector autoregression models reveal differences in state policy responses, which in some cases are substantial. The paper also provides evidence on the reasons for the measured cross-state differential policy responses. The size of a state's response is significantly related to its industry mix, evidence of an interest rate channel for monetary policy. The state-level data offer no support for recently ...
Working Paper
Does monetary policy have differential regional effects?
Working Paper
Regional income dynamics
Journal Article
Do states respond differently to changes in monetary policy?
Do the proportion of interest-sensitive industries, the number of small firms, and the concentration of small banks determine how monetary policy influences state economies? In this article, Jerry Carlino and Bob DeFina extend to the state level their earlier study that looked at these factors and their effects on a region's economies. Are the responses the same? Read the results of Carlino and DeFina's study
Journal Article
Does monetary policy have differential regional effects?
Do monetary policy actions have a uniform national effect? Or do the separate, but interdependent, regions of the country respond differently to changes in policy? In this article, Jerry Carlino and Bob DeFina demonstrate that monetary policy does have differential effects across regions. They also examine three reasons why the effects may differ: regional differences in the mix of interest-sensitive industries, in the ability of banks to alter their balance sheets, and in the mix of large and small borrowers.
Working Paper
A comparison of poverty trends and policy impacts for working families using different poverty indexes
This study provides empirical evidence on recent trends in poverty among working families based on the headcount rate and a broader alternative that incorporates the headcount rate, the depth of poverty, and income inequality among the poor. Estimates reveal that the indexes produce significantly different trends. The headcount rate indicates a reduction in overall working poverty for the sample period, while the alternative index showed no statistically significant change. The same result was found for various population subgroups. Decompositions of the index changes show that tax changes ...