Search Results
Journal Article
Opinion : Why the Great Depression matters
Perhaps the most important lesson to take from the Great Depression is that policymakers should follow the Hippocratic Oath: First, do no harm.
Journal Article
Federal Reserve : Last stop lending : how a railroad bankruptcy helped form modern Fed policy
Related link: http://www.richmondfed.org/publications/research/region_focus/2009/winter/federal_reserve_weblinks.cfm
Journal Article
Economic history : Too interconnected to fail? : The rescue of Long-Term Capital Management
Related link(s): https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/summer/economic_history_weblinks.cfm
Journal Article
Interview : Christopher Ruhm
Journal Article
Interview : George Selgin
Full interview/Link: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/winter/index.cfm
Journal Article
Economic history : The lessons of Jamestown
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q1/economic_history_weblinks.cfm
Briefing
Deterring default: why some state laws decrease the probability of mortgage foreclosures
Many states give mortgage lenders strong legal means by which to pursue debt collection in the event of a mortgage default. In those states, probability of default is lower and the forms the default takes are often quite different from a costly conventional foreclosure.
Briefing
Rolling back the financial safety net
The expansion of the federal financial safety net has increased the incentives for financial firms to take on more risk than they would have otherwise. Yet current regulatory reform proposals do not address this root cause of financial instability. Sharply curtailing the financial safety net is a necessary step to achieve enhanced market discipline.
Briefing
Comparing labor markets across recessions: a focus on the age composition of the population
Simply looking at unadjusted versions of traditional statistics may not be the best way to compare the state of the current economy to previous periods. When comparing recessions, it is important to account for demographic changes.
Briefing
Systemic risk regulation and the "too big to fail" problem
A single regulator tasked with preventing threats to systemic stability would need to have considerable power and discretion. But creating such a powerful entity could reinforce the moral hazard problem resulting from the idea that some firms are too big to fail.