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Journal Article
First-Time Homebuyers Appear to Be Younger, Less Creditworthy in Eighth District
First-time homebuyers are essential to the dynamics of the housing market by allowing current homeowners to trade up. The number of first-time homebuyers decreased between 2000 and 2011, and then started slowly increasing again. There are many possible reasons why this happened, such as rising rent and home prices, rising student debt and tightening credit standards.
How to Achieve a V-Shaped Recovery amid the COVID-19 Pandemic
Contrasting the Great Depression and Great Recession recoveries helps show how GDP levels and growth rates can respond to different levels of policy responses.
Journal Article
Industry Mix May Help Explain Urban-Rural Divide in Economic Growth
Economic growth in U.S. rural areas may be slower than growth in urban areas because of a different industry mix.
Journal Article
The Changing Relationship between Trade and America’s Gold Reserves
For much of U.S. history, gold reserves and trade flows were closely linked. That changed with the end of the gold standard.
Journal Article
Value-Added Trade vs. Gross Trade
Measuring value-added trade provides a more accurate picture of global trade.
Journal Article
Income and Living Standards within the Eighth District
In this article, we have look at the distribution of living standards in terms of the purchasing power of real per capita personal income by county using RPPs. Adjusting income for cost of living allows us to evaluate inequality in income?s local purchasing power instead of income per se. We see that overall inequality is not so severe in the District once adjusted for the cost of living, both across counties and in comparison to the nation. We also see that living standards tend to be higher within MSAs than outside them. In general, inequality is less severe when measured by living ...
Shifts in U.S. Trade Balance and Industrialization
As the U.S. has industrialized, changes in comparative advantage relative to those of other nations have led to periods of persistent trade surpluses and deficits.
Journal Article
Housing Costs and Regional Income Inequality in China and the U.S.
In this article, we look at regional per capita disposable income data for China, a developing nation, and the U.S., an advanced economy, to see how income inequality compares between two large countries with a substantial income gap.
Journal Article
Geographic Disparity in U.S. Output
A mere 81 of more than 3,000 counties produced half of total U.S. GDP in 2018.
Trade and Gold Reserves after the Demise of the Classical Gold Standard
After the early 1920s, the relationship between gold reserves and trade flows was tenuous at best as the international payments system experienced heightened uncertainty and significant change.