The Fed's response to the credit crunch
The Federal Reserve Board has used Section 13(3) of the Federal Reserve Act to create several new lending facilities to address the ongoing strains in the credit market.
Can Social Security survive the baby boomers?
How much have U.S. house prices fallen?
Increasing political freedom may be key to reducing threats
The root causes of terrorism might not be poverty and lack of education, as many believe. Rather, the lack of civil liberties, political rights and the rule of law might be more influential.
A primer on social security systems and reforms
This article reviews the characteristics of different social security systems. Many configurations arise depending on the nature of a system?s funding and determination of benefits. Many reforms propose changing the U.S. Social Security system. The authors focus their analysis of the transition from a pay-as-you-go to a fully funded system. They argue that the key component of any reform is the treatment of the implicit liabilities of a country?s social security system. The welfare gains accruing to some cohorts as a result of such reforms usually stem from either a partial or complete ...
The economic cost of war
It is difficult to measure the cost of the Iraq war and related expenses; it is at least as difficult to decide exactly what costs to measure. The May 2008 issue compares the two most widely cited estimates: one from the Congressional Budget Office and the other from researchers Joseph Stiglitz and Linda Bilmes. The newsletter also compares these estimates to U.S. GDP over the same time frame to get a better sense of the war's cost in relation to the entire U.S. economy.
What’s under the TARP?
The new economic terms and programs?from TARP to TALF to COP?are important, but trying to keep track of it all can make your head spin. Read the March 2009 Newsletter for a clear, concise explanation of the Treasury's Troubled Asset Relief Program designed to help alleviate the nation?s financial crisis.
Employment growth mixed across Eighth District
The extent and impact of outsourcing: evidence from Germany
The authors use data from several sources, including plant-level data from the manufacturing sector in Germany, to expand the literature on outsourcing. They find that, in Germany, the extent of outsourcing among manufacturing industries is higher than among service industries and that the outsourcing intensity of these industries did not change much between 1995 and 2005. They also find a statistically significantly positive impact of industry-level outsourcing intensity on German plant-level labor produc- tivity for both 2000 and 2005. The estimated economic impact of outsourcing on ...
What's under the TARP?
The Financial Stability Plan, initiated under the belief that "[t]here is more risk and greater cost in gradualism than in aggressive action," has several features.