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Journal Article
IFF: A Leading Community Development Financial Institution Expanding Its Market Reach across the Midwest
Community Development departments at Federal Reserve Banks have been mandated by the Fed?s Board of Governors since 1981. As part of its mandate, the Chicago Fed?s Community Development and Policy Studies (CDPS) division works to understand and document the roles and capacities of community development organizations (CDO). With a combination of public, private, and philanthropic funding, these organizations provide an array of services for our country?s vulnerable populations, and may offer investment or lending opportunities for financial institutions subject to the Community Reinvestment ...
Working Paper
Manufacturing Employment Losses and the Economic Performance of the Industrial Heartland
The industrial Midwest, sometimes referred to disparagingly as the ?Rust Belt,? has long been recognized as a distinct economic region and an important contributor to the US economy. Prior research has emphasized the role that losses in the manufacturing sector have played in the plight of several Midwestern states and cities, particularly in the late 1970s and early 1980s. We identify a hypothetical industrial heartland region consisting of MSAs that have high concentrations of 1969 earnings in manufacturing relative to the US average and that are located within the geography often ...