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The Demographics of Urban Migrants Since the Pandemic
The postpandemic movement of people out of urban neighborhoods is speeding up changes in the age, credit risk, income, home ownership, and ethnic mix of these neighborhoods. Migration has been consistent with patterns in place before the pandemic, but at higher levels.
Journal Article
Foreclosure-related vacancy rates
The national foreclosure crisis has caused there to be millions more vacancies in our housing stock than before. Vacant homes lower their community?s property values and quality of life. Neighbors and public officials know foreclosed homes sit empty for months, but precise measures of foreclosure-related vacancy are rare. Using data from Cuyahoga County, Ohio, I trace the rise and fall in the vacancy rates of homes during the 18 months following their foreclosure. Ominously, the data suggest that foreclosure may permanently scar some homes. Foreclosed homes still have higher vacancy rates ...
How Successful Is Your Region at Retaining Its Native Residents?
This District Data Brief analyzes how well regions in the Fourth District and across the United States retain their native residents and whether their retention rates are associated with population growth.
Journal Article
The Evolution of Household Leverage during the Recovery
Recent research has shown that geographic areas that experienced greater household deleveraging during the recession also experienced relatively severe economic contractions and slower recoveries. This analysis explores geographic variations in household debt over the past recession and recovery. It fi nds that regions that had very high household leverage at the start of the recession have shifted back toward national norms, while the variation of leverage within metro areas has maintained steady relationships with neighborhood characteristics such as location,demographics, and the age of ...
Urban and Regional Migration Estimates, Fourth Quarter 2023 Update
This Data Brief updates the figures that appeared in “Urban and Regional Migration Estimates: Will Your City Recover from the Pandemic?” with data for 2023:Q4 for all series. Migration estimates enable us to track which urban neighborhoods and metro areas are returning to their old migration patterns and where the pandemic has permanently shifted migration trends.
How Successful Is Your Region at Retaining Domestic Migrants?
For regions in the Fourth District and across the United States, this District Data Brief analyzes how well each region retains domestic migrants, or those who move in from other parts of the country. It also addresses the extent to which retention rates are associated with population growth.
Journal Article
Making financial markets safer for consumers: lessons from consumer goods markets and beyond
In the wake of the mortgage meltdown, policymakers are discussing how best to protect consumers in financial product markets.
Working Paper
Premium Municipal Bonds and Issuer Fiscal Distress
Economic theory suggests that bond issuers of lower credit quality or higher opacity should be more likely to issue bonds with premium coupons (higher coupon rates relative to yields at issuance). Using a comprehensive data set of municipal bonds issued between 1992 and 2012 by more than 21,000 issuers, we show that this has not been the case until the early 2000s. We examine what changed in this market to bring it into greater alignment with economic principles. We argue that the Government Accounting Standards Board?s Statement 34 that required the use of accrual accounting rules in ...
Working Paper
Measures beyond the college degree share to guide inter-regional comparisons and workforce development
Raising the share of adults with college degrees in a region or jurisdiction is a nearly universal goal of regional policymakers. They believe that education, as summarized by this statistic, is the cause of increasing employment, productivity, and wages. Using statistics estimated from the decennial censuses and the American Community Survey, this analysis demonstrates how different measures would suggest different rankings of more successful versus less successful metro areas. The "place-of-birth" variable in Census data enables a disaggregation of the origins of the skilled and unskilled ...
Urban and Regional Migration Estimates, Third Quarter 2023 Update
This Data Brief updates the figures that appeared in "Urban and Regional Migration Estimates: Will Your City Recover from the Pandemic?" with data for 2023 Q3 for all series. Migration estimates enable us to track which urban neighborhoods and metro areas are returning to their old migration patterns and where the pandemic has permanently shifted migration trends.