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Journal Article
Student Debt vs. Homeownership
Journal Article
Following in the Family Footsteps
Historically, the phenomenon of children entering their parents' careers ? following in their parents' footsteps ? was perceived as a social ill. It was a sign that the children were trapped by barriers keeping them out of other occupations and relegating them to reliving the work lives of their parents.
Briefing
The Richmond Fed Manufacturing and Service Sector Surveys: A User's Guide
The Richmond Fed conducts monthly surveys of business conditions in the manufacturing and service sectors of the Fifth Federal Reserve District. This article provides background information on these surveys and on other manufacturing and service sector surveys.The Richmond Fed conducts monthly surveys of business conditions in the manufacturing and service sectors of the Fifth Federal Reserve District. This article provides background information on these surveys and on other manufacturing and service sector surveys.
Briefing
Implications of Risks and Rewards in College Decisions
Despite a large and growing earnings premium for college graduates, growth in college enrollment and especially college attainment in the United States has been quite slow. The labor market's apparent lack of responsiveness to the earnings premium may be driven in part by the risks that marginally prepared students face when they go to college. Failing or dropping out could leave them with low wealth, high debt, and low earnings. Recent research indicates that neither further increases in the earnings premium nor reductions in college costs are likely to produce large increases in the college ...
Briefing
Assessing the Effect of the Affordable Care Act on Part-Time Employment
The Patient Protection and Affordable Care Act of 2010, commonly known as the Affordable Care Act or ACA, requires larger employers to offer health insurance to their full-time workers or pay penalties for failing to do so. Under some circumstances, the law creates an incentive for employers to replace full-time labor with part-time labor. This Economic Brief considers recent research on whether the ACA has in fact increased the use of part-time labor.
Journal Article
INTERVIEW: Campbell Harvey
Interview with Duke University's Campbell Harvey.
Journal Article
Living Wills: A Tool for Curbing Too Big to Fail
Economist Arantxa Jarque and senior editor David A. Price explore an innovation of the Dodd-Frank Act of 2010, which requires the largest and most complex financial institutions to create resolution plans to follow if the institutions fall into severe financial distress. In these plans, or "living wills," the institutions must give regulators a roadmap for resolving them via the bankruptcy process -- without disrupting the financial system or resorting to public bailouts. Jarque and Price argue that living wills are a tool that regulators can use to curb the "too big to fail" problem ...
Journal Article
Book review: Depression and innovation
Review of Alexander J. Field's "A Great leap forward: 1930's depression and U.S. economic growth," published by Yale University Press, 2011.
Briefing
Discount Window Lending: Policy Trade-offs and the 1985 BoNY Computer Failure
On November 21, 1985, the Bank of New York (BoNY) suffered a software failure that left it unable to redeliver securities it had received from other institutions as an intermediary. The result of the failure was that the bank sought and received $22.6 billion in discount window lending from the New York Fed, a record-setting amount. The episode presents a case study for considering when discount window lending and similar interventions are justified as a matter of efficiency, as well as the need for policymakers to take account of possible moral hazard that may lead to inadequate safeguards ...
Journal Article
The Economist's Apprentice
The Profession article: The Economist's Apprentice