Several recent research efforts have found that stimulative fiscal policy — government spending or tax cuts — can have unusual effects when nominal interest rates are as low as they are today. In particular, some studies have found that the government spending "multiplier" can be much larger...

The rapid fall in unemployment after the Great Depression suggests that there is nothing inherently persistent in a high unemployment rate. But a closer examination of the data indicates that changes in the unemployment rate might not have been as pronounced as generally believed.

A Richmond, Va.,-based community development program provides a natural experiment for measuring how the choices of one property owner can increase or decrease the value of neighboring properties.

While analysts have devoted much attention to housing market performance at the national, state, and even local level, far less attention has been paid to housing markets at the regional level. We investigate how regional vacancies, population, net migration, and other demographic variables have...

All of the 12 Federal Reserve Banks study the economies of their regions, but how is this information used? Regional data historically haven't swayed monetary policy decisions, but they provide policymakers and researchers with timely information about economic conditions and with context for...