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Bank:Federal Reserve Bank of Kansas City  Series:Economic Review 

Journal Article
How useful is Okun's law?

From the beginning of 2003 through the first quarter of 2006, real gross domestic product in the United States grew at an average annual rate of 3.4 percent. As expected, unemployment during the period fell. Over the course of the next year, average growth slowed to less than half its earlier rate--but unemployment continued to drift downward. This situation presented a puzzle for policymakers and economists, who expected the unemployment rate to increase as the economy slowed. ; Typically, growth slowdowns coincide with rising unemployment. This negative correlation between GDP growth and ...
Economic Review , Volume 92 , Issue Q IV , Pages 73-103

Journal Article
Exploring Agriculture's Path to the Long Term: Agricultural Symposium 2019

Economic Review , Issue Special Issue 2019 , Pages 1-101

Journal Article
Characteristics of high foreclosure neighborhoods in the Tenth District

The foreclosure crisis that began in earnest in 2006 continues to shrink the once valuable assets of homeowners, communities, and investors. In the last three years, more than three million households have lost their homes, and as many as 5 million more could lose their homes in the next three years. ; A striking feature of the crisis is the variation in its severity across both time and space. Initially, the foreclosure crisis hit low-income neighborhoods disproportionately. Foreclosures remain concentrated in these neighborhoods. But in recent months, the foreclosure epidemic has spread ...
Economic Review , Volume 94 , Issue Q II , Pages 51-75

Journal Article
The farm economy turns down

Economic Review , Volume 77 , Issue Q I , Pages 19-32

Journal Article
Interest payments on demand deposits: historical evolution and the current controversy

Economic Review , Volume 62 , Issue Jul , Pages 3-11

Journal Article
The elementary microeconomics of private employee benefits

Economic Review , Volume 60 , Issue May , Pages 3-12

Journal Article
Globalization and global disinflation

Since the invention of money, pressure to finance government debt and deficits, directly or indirectly, has been the single most important driver of inflation. It is not at all clear, however, that improved fiscal policy has been the main driver of the recent disinflation. ; Whatever the explanation of global disinflation, the raw data are stunning. In recent years, inflation around the world has dropped to levels that, only two decades ago, seemed frustratingly unattainable. If one takes into account technical biases in the construction of the CPI, as well as central banks? desire to ...
Economic Review , Volume 88 , Issue Q IV , Pages 45-78

Journal Article
Will just-in-time inventory techniques dampen recessions?

Economic Review , Volume 76 , Issue Mar , Pages 21-33

Journal Article
The new debit card regulations: initial effects on networks and banks

American consumers are using debit cards more than ever before, triggering key changes in the payment card industry and affecting how banks and merchants do business. ; Controversy has arisen as the industry raised the fees it charges on merchants for debit transaction processing?fees that merchants may pass on to consumers, affecting the prices that consumers pay for goods and services. Congress and the Justice Department have stepped in with rules to cap certain fees and promote competition among card networks. ; In this first article of two, Hayashi finds the new regulations and legal ...
Economic Review , Volume 97 , Issue Q IV

Journal Article
Do producer prices lead consumer prices?

From early 1994 to early 1995, inflation surged in the producer price indexes for crude materials and intermediate goods. For example, inflation in intermediate goods prices rose from 2.6 percent annually in the first half of 1994 to 7.1 percent over the next nine months. At the same time, however, inflation in the consumer price index remained low, at slightly less than 3 percent. Many analysts are concerned that recent increases in the prices of crude and intermediate goods may be passed through to consumers. If such pass-through occurs, the Federal Reserve's progress in moving toward price ...
Economic Review , Volume 80 , Issue Q III , Pages 25-39




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