Search Results
Journal Article
Issues in CRA reform
An analysis of the prevailing community-lending environment, including a history of the implementation of the Community Reinvestment Act, a discussion of related research studies, and a recommendation of important economic considerations as policymakers attempt to reform the process of enhancing credit flows to disadvantaged communities.
Working Paper
Neighborhood information and home mortgage lending.
An examination of how information about a neighborhood affects the level of lending activity in it--specifically, whether lenders deny mortgage applications at higher rates in neighborhoods where they have little experience in evaluating applications and/or where the lending community in general lacks such experience.
Working Paper
Cross-lender variation in home mortgage lending
A lender-specific analysis of differences in minority and low-income mortgage loan originations using new applicant-level data gathered under the Home Mortgage Disclosure Act of 1975.
Journal Article
Generation recession? How the recession may change America
Nobody yet knows the ultimate footprint that the Great Recession will have on the nation. We do know that much of it depends on the choices that Americans make in response?everything from personal saving to labor force participation is in play. Ultimately, these choices will help determine how ?great? the recession really turns out to be.
Working Paper
Low-income-rental-housing programs in the Fourth District
In the aftermath of the Great Recession, many policy analysts are rethinking national housing policies, including affordable housing programs. We review the literature to compare the largest tenant-based (housing choice voucher or HCV) and place-based (low-income-housing tax credit or LIHTC) programs with respect to cost efficiency and access to better quality neighborhoods. We also provide an overview of low-income-rental-housing policy trends and perform a rough comparison of neighborhood quality across programs and counties, focusing on four main urban counties in the Fourth Federal ...
Journal Article
Monetary policy: from there to here to where?
Drawing from his long experience participating in the policymaking process at the Federal Reserve, chief policy officer Mark Sniderman shares his views on how the Federal Reserve?s framework for conducting monetary policy has evolved over the past decade. He explains how changes in economic theory have helped shaped this new framework and how lessons learned from the Great Depression and Japan?s recent struggle with deflation have contributed. This Commentary is based on a speech delivered at the Global Interdependence Conference, Tokyo, Japan, on December 4, 2012.
Working Paper
Posted rates as signals in mortgage lending markets
A discussion of how mortgage lenders might use posted lending terms to signal both their eagerness to take new loan applications and their lending standards.
Journal Article
Monetary policy in the cold war era
An explanation of why, in the face of a booming economy, low unemployment, and scant inflation pressures, the Federal Reserve must continue its campaign to achieve price stability.
Journal Article
Inflation targets: the next step for monetary policy
An argument that adopting specific inflation targets as a way of achieving price stability would enhance the United States' economic performance.