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Keywords:Economic conditions 

COVID-19 Caused 3 New Hires for Every 10 Layoffs

Reports about the economic fallout from the coronavirus pandemic and efforts to slow its spread make for grim reading. One especially grim statistic is the number of layoffs. Since early March, just over 28 million persons have filed new claims for unemployment insurance benefits (roughly 30 million if you seasonally adjust).
Macroblog

Working Paper
Structural breaks and regional disparities in the transmission of monetary policy

Using a regional VAR, we find large differences in the effects of monetary policy shocks across regions of the United States. We also find that the region-level effects of monetary policy differ a great deal between the pre-Volcker and Volcker-Greenspan periods in terms of their depth and length. The two sample periods also yield very different rankings of the regions in terms of the effects of monetary policy. Our regional VAR also suggests that aggregate VARs that ignore regional variations can suffer from severe aggregation bias. We use the results of our regional VAR to find evidence that ...
Working Papers , Paper 2003-008

Journal Article
A dynamic economy means churning employment

Fedgazette , Volume 17 , Issue Mar , Pages 19

Speech
Impact of the Great Recession on public schools in the region

Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Speech , Paper 74

Speech
Economic recovery and the expansion beyond, a speech presented at the INVESTKentucky Conference, Louisville, Kentucky, June 4, 2009

President Pianalto briefly described some forces that will help pull our economy out of its steep decline. She discussed why several long-standing imbalances within the economy will likely cause the recovery to proceed slowly. Finally, she discussed some structural changes in the labor market and the drivers that will lead us again to long-term prosperity.
Speech , Paper 23

Conference Paper
The fiscal impact of population change: discussion

It is now well established that world-wide demographic shifts are going to affect both the U. S. and world economies in ways that are not entirely predictable. What we can do--and what Ronald Lee and Ryan Edwards do so well--is to plot out for the future some of the fiscal implications under reasonable guesses about demographic, economic, and legal factors. These factors include what we know already from the past, such as the maximum number of people in the world of any age over 0 next year and over 10 in another ten years. A typical next step is to posit what in estimating circles is known ...
Conference Series ; [Proceedings] , Volume 46

Conference Paper
Commentary: activist fiscal policy to stabilize economic activity

Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
How home loan modification through the 60/40 plan can save the housing sector

Many well-respected economists have suggested plans for mortgage restructuring built on the idea of share appreciation mortgages, which generate rather complex transactions with conflicting interests between the lender and the homeowner. The 60/40 Plan, however, combines several economic principles adapted to the nature of home loans and appears to provide all the benefits but fewer of the drawbacks of many of these programs, including current government programs such as the Home Affordable Refinance (HARP) and Home Affordable Modification (HAMP) programs. For example, HARP homeowners must ...
Review , Volume 94 , Issue Mar , Pages 102-116

Speech
The keys to regional growth, a speech presented to the Summa Hospitals Women's Board, Akron, Ohio, on February 15, 2011

In a speech to the Summa Hospitals Women?s Board in Akron, Ohio, Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto described how the recession and recovery have unfolded in both the U.S. and in her region. She also highlighted the importance of productivity in driving long-term economic growth, and discussed how education and innovation work together to improve our prosperity.
Speech , Paper 34

Journal Article
Regional economic developments

Econ Focus , Volume 7 , Issue Fall , Pages 42-47

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