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Newsletter
The great inflation: a historical overview and lessons learned
All inflation isn't bad?a moderate amount can signal a healthy economy. But high inflation, such as that during the Great Inflation, can lead to a viscious cycle where expectations of higher inflation lead to further increases in the price level. Read the October 2012 Page One Economics Newsletter to find out what caused the Great Inflation, how tough (and painful) policy brought it to an end, and two key lessons learned.
Newsletter
Then and now: Fed policy actions during the great depression and great recession
Although the recent Great Recession was severe, its financial impact never paralleled that of the Great Depression. The November Newsletter compares these two economic downturns and shows how lessons learned in the Great Depression helped current Federal Reserve policymakers stabilize the economy during the recent economic crisis.
Journal Article
The boom and bust of U.S. housing prices from various geographic perspectives
This paper summarizes changes in housing prices during the recent U.S. boom and bust from various geographic perspectives. Nationally, the Standard & Poor?s/Case-Shiller house price index more than doubled in nominal terms during the boom and has fallen by roughly a third subsequently. During the boom, housing prices tended to rise much faster in metropolitan areas in the East and West Coast regions than in the country?s interior. After adjusting for inflation, 7 of 19 metropolitan areas have experienced real declines in housing prices from the start of the boom to the present. Although ...
Newsletter
Gini in a bottle: some facts on income inequality
Income inequality has been rising in the United States and other developed countries. The March 2012 Page One Economics Newsletter discusses income inequality, its causes, and some possible policy solutions.
Newsletter
Financial crises, reform, and central banking: establishing the federal reserve
Financial crises and recessions have often led to significant financial reform. Perhaps the most noteworthy financial reform of the past century was the formation of the Federal Reserve System in 1913. This month's newsletter provides historical details of events leading up to the founding of the Federal Reserve.