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Economic Letter

Provides timely commentary on the important trends and policy issues shaping our rapidly globalizing, increasingly interconnected economy.

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  • 2014
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Volume 9, Number 8
August 2014

U.S. Gasoline Imports Rise Following Temporary Easing of Fuel Standards
Adriana Z. Fernández and Robert W. Gilmer

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Volume 9, Number 7
July 2014

Crude Oil Export Ban Benefits Some ... but Not All
Michael D. Plante

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Volume 9, Number 6
June 2014

Inflation Is Not Always and Everywhere a Monetary Phenomenon
Antonella Tutino and Carlos E.J.M. Zarazaga

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Volume 9, Number 5
May 2014

Middle-Skill Jobs Lost in U.S. Labor Market Polarization
Anton Cheremukhin

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Volume 9, Number 4
April 2014

Central Bank Transparency Anchors Inflation Expectations
J. Scott Davis, Adrienne Mack and Mark A. Wynne

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Volume 9, Number 3
March 2014

U.S. Budget Deficits Shrink, but Long-Run Issues Remain
Jason Saving

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Volume 9, Number 2
March 2014

Renewable Fuel Standards Hit the 'Blend Wall'
Michael D. Plante and Mine Yücel

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Volume 9, Number 1
January 2014

Weakly Capitalized Banks Slowed Lending Recovery After Recession
J.B. Cooke and Christoffer Koch

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Volume 8, Number 12
December 2013

Volatility-Selling Strategies Carry Potential Systemic Cost
Jiaqi Chen and Michael Tindall

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Volume 8, Number 11
December 2013

The Euro and Global Turbulence: Member Countries Gain Stability
Matthieu Bussière, Alexander Chudik and Arnaud Mehl

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Volume 8, Number 10
October 2013

Sovereign Wealth Funds Allow Countries to Invest for More Than the Long Term
Alex Musatov and Josh Zorsky

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Volume 8, Number 9
October 2013

Asia Recalls 1997 Crisis as Investors Await Fed Tapering
Janet Koech, Helena Shi and Jian Wang

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Volume 8, Number 8
September 2013

A Short History of FOMC Communication
Mark A. Wynne

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Volume 8, Number 7
September 2013

Assessing the Costs and Consequences of the 2007–09 Financial Crisis and Its Aftermath
David Luttrell, Tyler Atkinson and Harvey Rosenblum

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Volume 8, Number 6
July 2013

Economic Shocks Reverberate in World of Interconnected Trade Ties
Matthieu Bussière, Alexander Chudik and Giulia Sestieri

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Volume 8, Number 5
July 2013

Value-Added Data Recast the U.S.–China Trade Deficit
Michael Sposi and Janet Koech

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Volume 8, Number 4
June 2013

Technological Progress Is Key to Improving World Living Standards
Enrique Martínez-García

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Volume 8, Number 3
June 2013

A Balanced-Growth View of Men's and Women's Unbalanced Labor Market Recoveries
Carlos E.J.M. Zarazaga

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Volume 8, Number 2
April 2013

When Gauging Bank Capital Adequacy, Simplicity Beats Complexity
Michael A. Seamans

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Volume 8, Number 1
March 2013

Foreclosures’ Silver Lining: They Could Restrain Rent Inflation
Alex Musatov and Danielle DiMartino Booth

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Volume 7, Number 14
December 2012

Falling Off the Fiscal Cliff
Jason Saving

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Volume 7, Number 13
December 2012

Inflation Expectations Have Become More Anchored Over Time
J. Scott Davis

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Volume 7, Number 12
October 2012

High Unemployment Points to Below-Target (But Still Stable) Inflation
Tyler Atkinson and Evan F. Koenig

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Volume 7, Number 11
October 2012

Bringing Banking to the Masses, One Phone at a Time
Janet Koech

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Volume 7, Number 10
September 2012

Cost of Decisionmaking Influences Individual Selections
Anton Cheremukhin and Antonella Tutino

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Volume 7, Number 9
September 2012

One-Size-Fits-All Monetary Policy: Europe and the U.S.
Mark A. Wynne and Janet Koech

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Volume 7, Number 8
August 2012

China's Slowdown May Be Worse Than Official Data Suggest
Janet Koech and Jian Wang

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Volume 7, Number 7
August 2012

Market Expectations and Corn Prices: Looking into Future to Explain Present
Michael Plante and Jackson Thies

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Volume 7, Number 6
July 2012

Real-Time Historical Dataset Enhances Accuracy of Economic Analyses
Adriana Z. Fernandez, Evan F. Koenig and Alex Nikolsko-Rzhevskyy

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Volume 7, Number 5
May 2012

Commodity Futures Investing: Method to the Madness
Michael Plante and Jackson Thies

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Volume 7, Number 4
May 2012

Default and Lost Opportunities: A Message from Argentina for Euro-Zone Countries
Carlos E.J.M. Zarazaga

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Volume 7, Number 3
February 2012

Economic Rebounds in U.S. and Euro Zone: Deceivingly Similar, Strikingly Different
Anthony Landry and Carlos E.J.M. Zarazaga

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Volume 7, Number 2
February 2012

Global Stock Market Linkages Reduce Potential for Diversification
Karen K. Lewis

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Volume 7, Number 1
January 2012

Increased Real House Price Volatility Signals Break from Great Moderation
Adrienne Mack and Enrique Martínez-García

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Volume 6, Number 14
December 2011

Relating Commodity Prices to Underlying Inflation: The Role of Expectations
J. Scott Davis

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Volume 6, Number 13
November 2011

Financiers of the World, Disunite
Jiaqi Chen and Jeffery W. Gunther

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Volume 6, Number 12
November 2011

How the U.S. Tax System Stacks Up Against Other G-7 Economies
Anthony Landry

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Volume 6, Number 11
October 2011

Did Speculation Drive Oil Prices? Market Fundamentals Suggest Otherwise
Michael D. Plante and Mine K. Yücel

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Volume 6, Number 10
October 2011

Did Speculation Drive Oil Prices? Futures Market Points to Fundamentals
Michael D. Plante and Mine K. Yücel

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Volume 6, Number 9
September 2011

The Sluggish Recovery from the Great Recession: Why There Is No 'V' Rebound This Time
Mark A. Wynne

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Volume 6, Number 8
August 2011

When Will the U.S. Housing Market Stabilize?
John V. Duca, David Luttrell and Anthony Murphy

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Volume 6, Number 7
July 2011

Distance and the Impact of 'Gravity' Help Explain Patterns of International Trade
Ananth Ramanarayanan

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Volume 6, Number 6
June 2011

Will China Ever Become as Rich as the U.S.?
Mark A. Wynne

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Volume 6, Number 5
May 2011

Upstream Capital Flows: Why Emerging Markets Send Savings to Advanced Economies
Simona E. Cociuba

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Volume 6, Number 4
May 2011

Inflation Measurement Gives Us Food for Thought
Jim Dolmas

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Volume 6, Number 3
March 2011

'Rational Inattention' Guides Overloaded Brains, Helps Economists Understand Market Behavior
Antonella Tutino

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Volume 6, Number 2
March 2011

Federal Health Care Law Promises Coverage for All, But at a Price
Jason Saving

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Volume 6, Number 1
January 2011

With Reforms in China, Time May Correct U.S. Current Account Imbalance
Jian Wang

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Volume 5, Number 15
December 2010

Expanding Variety of Goods Underscores Battle for Competitive Advantage
Shalah M. Mostashari

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Volume 5, Number 14
December 2010

The Fallacy of a Pain-Free Path to a Healthy Housing Market
Danielle DiMartino Booth and David Luttrell

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Volume 5, Number 13
December 2010

When Tariff Cuts Don't Boost Import Variety
Shalah M. Mostashari

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Volume 5, Number 12
December 2010

Gauging the Odds of a Double-Dip Recession Amid Signals and Slowdowns
Harvey Rosenblum and Tyler Atkinson

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Volume 5, Number 11
November 2010

The Globalization of Ideas
Anthony Landry

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Volume 5, Number 10
October 2010

Financial Crisis Revives Interest in Special Drawing Rights
Simona E. Cociuba

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Volume 5, Number 9
September 2010

Sovereign Debt: A Matter of Willingness, Not Ability, to Pay
Ananth Ramanarayanan

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Volume 5, Number 8
August 2010

Can the Nation Stimulate Its Way to Prosperity?
Jason Saving

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Volume 5, Number 7
July 2010

Recovering from the Housing and Financial Crisis
John V. Duca and David Luttrell

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Volume 5, Number 6
June 2010

Cycle-Resistant Credit Systems: Learning from Hong Kong’s Experience
Ying Guan, Jeffery W. Gunther and Sophia Tsai

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Volume 5, Number 5
June 2010

Manning the Gates: Migration Policy in the Great Recession
Mike Nicholson and Pia Orrenius

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Volume 5, Number 4
May 2010

The Term Auction Facility’s Effectiveness in the Financial Crisis of 2007–09
Tao Wu

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Volume 5, Number 3
April 2010

Regulatory and Monetary Policies Meet ‘Too Big to Fail’
Harvey Rosenblum, Jessica J. Renier and Richard Alm

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Volume 5, Number 2
February 2010

Durable Goods and the Collapse of Global Trade
Jian Wang

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Volume 5, Number 1
January 2010

A Historical Look at the Labor Market During Recessions
Enrique Martínez-García and Janet Koech

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Volume 4, Number 10
December 2009

Labor Market Globalization in the Recession and Beyond
W. Michael Cox, Richard Alm and Justyna Dymerska

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Volume 4, Number 9
November 2009

What Drives Diesel Fuel Prices?
Jackson Thies and Stephen P. A. Brown

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Volume 4, Number 8
November 2009

Trade, Globalization and the Financial Crisis
Mark A. Wynne and Erasmus K. Kersting

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Volume 4, Number 7
September 2009

Fed Policy in the Financial Crisis: Arresting the Adverse Feedback Loop
Danielle DiMartino Booth and Jessica J. Renier

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Volume 4, Number 6
August 2009

TALF: Jump-Starting the Securitization Markets
Kenneth J. Robinson

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Volume 4, Number 5
July 2009

Has Greater Globalization Made Forecasting Inflation More Difficult?
Mark A. Wynne and Patrick Roy

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Volume 4, Number 4
June 2009

Taming the Credit Cycle by Limiting High-Risk Lending
Jeffery W. Gunther

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Volume 4, Number 3
April 2009

Seeking Stability: What’s Next for Banking Regulation?
Simona E. Cociuba

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Volume 4, Number 2
February/March 2009

Fed Confronts Financial Crisis by Expanding Its Role as Lender of Last Resort
John V. Duca, Danielle DiMartino and Jessica J. Renier

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Volume 4, Number 1
January 2009

Ties that Bind: Bilateral Trade's Role in Synchronizing Business Cycles
Ananth Ramanarayanan

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Volume 3, Number 12
December 2008

Financial Crisis Casts Shadow Over Commercial Real Estate
Roland Meeks

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Volume 3, Number 11
November 2008

Globalization and the Changing Nature of the U.S. Economy’s Influence in the World
Adriana Z. Fernandez and Alex Nikolsko-Rzhevskyy

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Volume 3, Number 10
October 2008

Fed Intervention: Managing Moral Hazard in Financial Crises
Harvey Rosenblum, Danielle DiMartino, Jessica J. Renier and Richard Alm

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Volume 3, Number 9
September 2008

The Big Mac: A Global-to-Local Look at Pricing
Anthony Landry

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Volume 3, Number 8
August 2008

China and India: Two Paths to Economic Power
W. Michael Cox and Richard Alm

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Volume 3, Number 7
July 2008

Reaching Mexico's Unbanked
Edward C. Skelton

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Volume 3, Number 6
June 2008

Why Are Exchange Rates So Difficult to Predict?
Jian Wang

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Volume 3, Number 5
May 2008

Crude Awakening: Behind the Surge in Oil Prices
Stephen P. A. Brown, Raghav Virmani and Richard Alm

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Volume 3, Number 4
April 2008

Financial Market Tremors: Causes and Responses
Richard W. Fisher

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Volume 3, Number 3
March 2008

Intellectual Property Protection in a Globalizing Era
Edwin Lai

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Volume 3, Number 2
February 2008

Accounting For the Bond-Yield Conundrum
Tao Wu

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Volume 3, Number 1
January 2008

Inequality and Growth: Challenges to the Old Orthodoxy
Erwan Quintin and Jason L. Saving

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Volume 2, Number 12
December 2007

From Complacency to Crisis: Financial Risk Taking in the Early 21st Century
Danielle DiMartino, John V. Duca and Harvey Rosenblum

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Volume 2, Number 11
November 2007

The Rise and Fall of Subprime Mortgages
Danielle DiMartino and John V. Duca

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Volume 2, Number 10
October 2007

What's Driving Gasoline Prices?
Stephen P. A. Brown and Raghav Virmani

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Volume 2, Number 9
September 2007

The 'Great Moderation' in Output and Employment Volatility: An Update
Evan F. Koenig and Nicole Ball

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Volume 2, Number 8
August 2007

Hedge Fund Investors More Rational Than Rash
Jeffery W. Gunther and Anna Zhang

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Volume 2, Number 7
July 2007

Is Latin America Saying Adios to Market-Friendly Reforms?
William C. Gruben and Richard Alm

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Volume 2, Number 6
June 2007

Measuring the Taylor Rule's Performance
Adriana Z. Fernandez and Alex Nikolsko-Rzhevskyy

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Volume 2, Number 5
May 2007

Women at Work: A Progress Report
W. Michael Cox and Richard Alm

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Volume 2, Number 4
April 2007

Fiscal Fitness: The U.S. Budget Deficit’s Uncertain Prospects
Jason L. Saving

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Volume 2, Number 3
March 2007

Obstacles to Measuring Global Output Gaps
Mark A. Wynne and Genevieve R. Solomon

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Volume 2, Number 2
February 2007

After the Fall: Globalizing the Remnants of the Communist Bloc
Julia K. Carter

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Volume 2, Number 1
January 2007

Does Foreign Direct Investment Help Emerging Economies?
Anil Kumar

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Volume 1, Number 12
December 2006

Through a Glass, Darkly: How Data Revisions Complicate Monetary Policy
Evan F. Koenig

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Volume 1, Number 11
November 2006

Making Sense of the U.S. Housing Slowdown
John V. Duca

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Volume 1, Number 10
October 2006

Laying the Foundation for a Mortgage Industry in Mexico
Edward C. Skelton

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Volume 1, Number 9
September 2006

Globalization’s Effect on Interest Rates and the Yield Curve
Tao Wu

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Volume 1, Number 8
August 2006

The Looming Challenge of the Alternative Minimum Tax
Alan D. Viard

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Volume 1, Number 7
July 2006

How Labor Market Policies Shape Immigrants’ Opportunities
Pia M. Orrenius and Genevieve R. Solomon

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Volume 1, Number 6
June 2006

Mexico’s Financial Vulnerability: hen and Now
Erwan Quintin and José Joaquín López

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Volume 1, Number 5
May 2006

Integration and Globalization: The European Bellwether
Jason L. Saving

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Volume 1, Number 4
April 2006

Running on Empty? How Economic Freedom Affects Oil Supplies
Stephen P. A. Brown and Richard Alm

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Volume 1, Number 3
March 2006

Apparel Exports and Education: How Developing Nations Encourage Women’s Schooling
William C. Gruben and Darryl McLeod

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Volume 1, Number 2
February 2006

Beyond the Outsourcing Angst: Making America More Productive
Thomas F. Siems

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Volume 1, Number 1
January 2006

Miracle to Malaise: What’s Next for Japan?
W. Michael Cox and Jahyeong Koo

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