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Journal Article
Wealth, economic infrastructure, and monetary policy
Jordan, Jerry L. (1997-08)
An argument that it's not the specific "growth" programs that governments enact which determine a nation's prosperity, but the totality of the state's attitude toward the accumulation of private wealth, including the central bank's management of money.
Economic Commentary , Issue Aug

Journal Article
Is the thrift performance gap widening? Evidence from Ohio
Watro, Paul R. (1988-08)
An analysis of differences in earnings of the best- and worst- performing savings and loan associations in Ohio, explaining how differences in revenues, expenses, and costs in the last five years have caused the healthy thrifts to perform better and the sick thrifts to perform worse.
Economic Commentary , Issue Aug

Journal Article
International policy coordination: can we afford it?
Hoskins, W. Lee (1989-01)
A proposition that detailed global coordination of macroeconomic policies could have negative effects on real economic growth and efficiency, and that the integrity of private markets would be better assured through the maintenance of long-term nominal policy targets.
Economic Commentary , Issue Jan

Working Paper
Search in asset markets
Rocheteau, Guillaume; Lagos, Ricardo (2006)
We investigate how trading frictions in asset markets affect portfolio choices, asset prices and efficiency. We generalize the search-theoretic model of financial intermediation of Duffie, Grleanu and Pedersen (2005) to allow for more general preferences and idiosyncratic shock structure, unrestricted portfolio choices, aggregate uncertainty and entry of dealers. With a fixed measure of dealers, we show that a steady-state equilibrium exists and is unique, and provide a condition on preferences under which a reduction in trading frictions leads to an increase in the price of the asset. We ...
Working Papers (Old Series) , Paper 0607

Journal Article
How soft a landing?
Erceg, John J.; Nickels, Paul J. (1989-11)
A summation of the outlook of 30 economists at the October 20, 1989 meeting of the Fourth District Economists' Roundtable, with major emphasis on the inflation outlook, GNP growth, and capital spending.
Economic Commentary , Issue Nov

Journal Article
An anemic recovery?
Leovic, Lydia K.; Erceg, John J. (1991-08)
A report on the June 14, 1991 meeting of the Fourth District Economists' Roundtable, at which the consensus forecast was for a mild gain in output growth in the early stages of economic expansion and for a subdued recovery in the consumer spending, housing, and capital goods sectors.
Economic Commentary , Issue Aug

Speech
The Outlook for the Economy and Monetary Policy; Vantage Point: Economists on the Economy Series, The Council for Economic Education, New York, NY
Mester, Loretta J. (2018-01-18)
The Federal Reserve System also supports economic education as part of our mission to engage in our communities. The Cleveland Fed?s Learning Center and Money Museum offers various programs for teachers and students with the goal of increasing financial and economic literacy. What we have learned over the years is that when people have a better understanding of the economy, they can make better financial decisions and be part of the national discourse on the important economic policy choices facing the country. Federal Reserve policymakers are also in the economic education business. One of ...
Speech , Paper 92

Working Paper
Earthquakes and House Prices: Evidence from Oklahoma
Whitaker, Stephan; Wetherell, Daniel; Cheung, Ron (2016-12-21)
This paper examines the impact of earthquakes on residential property values using sales data from Oklahoma from 2006 to 2014. Before 2010, Oklahoma had only a couple of earthquakes per year that were strong enough to be felt by residents. Since 2010, seismic activity has increased, bring potentially damaging quakes several times each year and perceptible quakes every few days. Using hedonic models, we estimate that prices decline by 3 to 4 percent after a home has experienced a moderate earthquake measuring 4 or 5 on the Modified Mercalli Intensity Scale. Prices can decline up to 9.8 percent ...
Working Papers (Old Series) , Paper 1631

Report
Beyond Investment: How CDFIs Support Community and Economic Development in Low- and Moderate-Income Areas
Piazza, Merissa (2026-04-14)
Community development financial institutions (CDFIs) support low- and moderate-income areas by providing not only investment, but also technical assistance, capacity building, financial coaching, and more. Drawing on transaction-level investment data and interviews with CDFI loan funds from across the Fourth Federal Reserve District, this report examines how these mission-driven organizations play a key role in community and economic development.
Community Development Publications

Journal Article
Should we return to fixed exchange rates?
Karamouzis, Nicholas V. (1984-09)
An examination of arguments for and against the suggestion that nations should return to a Bretton Woods-type system of fixed exchange rates.
Economic Commentary , Issue Sep

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