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Have Borrowers Recovered from Foreclosures during the Great Recession?
This article examines the current financial health of individuals who experienced a home mortgage foreclosure during the Great Recession and assesses the degree to which they have recovered relative to those who lost their homes before the downturn.
Newsletter
Residential mobility and neighborhood characteristics in Chicago
Chicago neighborhoods vary widely in economic opportunity and well-being, and trends in population change reflect these disparities. According to census data, the city added about 50,000 residents between 2010 and 2020, but patterns differed considerably by neighborhood type. Some census tracts bore the largest burden of population loss, continuing a multi-decade period of decline, while several others saw rapid growth exceeding 10% per year.
Newsletter
Female Labor Supply and Why Women Need to Be Included in Economic Models
Women contribute a large fraction of aggregate labor hours, earnings, and labor force participation. Yet, many models used to study the effects of government policy ignore gender differences and use data on men only. These models are used extensively for examining the effects of government policies and programs?including Social Security, taxation, and welfare programs. Before evaluating how people respond to such policies, it is important to construct a reliable model of how people behave and why.
Newsletter
Credit card delinquency and Covid-19: Neighborhood trends in the Seventh District
The Covid-19 pandemic has resulted in great economic and financial disruption. To better understand how financial hardships have varied across communities, we investigate credit card delinquencies across the states of the Federal Reserve’s Seventh District: Illinois, Indiana, Iowa, Michigan, and Wisconsin. While we find a slight increase of less than 1 percentage point in delinquency rates across the District overall following the onset of the pandemic, we find more pronounced increases of about 2 percentage points in low- and moderate-income (LMI) neighborhoods and about 3 percentage ...