Briefing
TARGET2: symptom, not cause, of eurozone woes
Rhodes, Karl; Lubik, Thomas A. (2012-08)
In recent years, large positive and negative balances have arisen in TARGET2, the interbank settlement and payments system of the Eurozone. These balances show that the Deutsche Bundesbank, the central bank of Germany, has become a large net creditor to the European Central Bank (ECB). Conversely, they show that central banks in the periphery nations of Portugal, Ireland, Italy, Greece, and Spain have become significant net debtors to the ECB. Critics of the Eurosystem have portrayed these balances as a "stealth bailout" of the periphery nations, but TARGET2 merely reflects persistent ...
Richmond Fed Economic Brief , Issue Aug

Journal Article
Jargon Alert: Adverse Selection
Rhodes, Karl (2014-04)
Econ Focus , Issue 2Q , Pages 8-8

Briefing
Putting the Beveridge Curve Back to Work
Rhodes, Karl; Lubik, Thomas A. (2014-09)
After the recession of 2007-09, the Beveridge curve seemed to shift significantly outward as the job-vacancy rate increased with no corresponding decrease in the unemployment rate. A new time-varying analysis of the Beveridge curve from the early 1950s through 2011 could lend support to the idea that skill mismatch due to technological change is the most likely driver of the curve's outward shifts, including its most recent movement. This analysis suggests that expansionary monetary policy has done little in recent years to reduce the unemployment rate.
Richmond Fed Economic Brief , Issue Sept

Journal Article
Global pain local pain : the globalization of manufacturing has produced cheaper goods for everyone, but the trend has cost hundreds of thousands of jobs in the Fifth District
Rhodes, Karl (2004-01)
Econ Focus , Volume 8 , Issue Win , Pages 12-18

Journal Article
Upfront: Regional news at a glance
Romero, Jessica Sackett; Rhodes, Karl; Nash, Betty Joyce; Sablik, Timothy (2011-10)
Econ Focus , Volume 15 , Issue 4Q , Pages 2-6

Briefing
2015 Richmond Fed Research Digest
Sablik, Timothy; Rhodes, Karl (2015)
Summaries of work by economists in the Bank’s Research Department published externally from June 1, 2014, through May 31, 2015
Research Digest

Briefing
MMT and Government Finance: You Can't Always Get What You Want
Krause, Michael U.; Rhodes, Karl; Lubik, Thomas A. (2021-04)
During the past 25 years, low interest rates and highly expansionary monetary policy with little apparent inflation have created the illusion that a government can simply print money to fund exorbitant deficit spending with no repercussions. This core tenet of so-called "modern monetary theory" ignores the fact that deficit spending is constrained in the long run by a government's ability to satisfy creditors.
Richmond Fed Economic Brief , Volume 21 , Issue 12

Journal Article
Testing charter cities: Can new cities with better rules accelerate economic growth in Honduras and other developing nations?
Rhodes, Karl (2012-04)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2012/q2-3/feature2_weblinks.cfm>
Econ Focus , Volume 16 , Issue 2Q/3Q , Pages 20-23

Journal Article
Economic history: Harnessing the iron horse : Fifth district companies pioneered railroading in the United States
Rhodes, Karl; Nash, Betty Joyce (2011-04)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2011/q2/economic_history_weblinks.cfm
Econ Focus , Volume 15 , Issue 2Q , Pages 36-38

Journal Article
The venture adventure : the sharp rise and fall of venture capital was a wild ride for Fifth District entrepreneurs and financiers
Rhodes, Karl (2003-10)
Econ Focus , Volume 7 , Issue Fall , Pages 22-26