Hernández-Murillo and Owyang (2006) showed that accounting for spatial correlations in regional data can improve forecasts of national employment. This paper considers whether the predictive advantage of disaggregate models remains when forecasting subnational data. The authors conduct horse...

An unprecedented amount of aid was extended by the Treasury, Fed and FDIC to companies, agencies and individuals. This aid was necessary and, in many cases, will return a profit to taxpayers.

An unprecedented amount of aid was extended by the Treasury, Fed and FDIC to companies, agencies and individuals. This aid was necessary and, in many cases, will return a profit to taxpayers.

Presentation to the Northeast Mississippi Economic Forecast Conference, Jan. 20, 2005

Two “Dialogue with the Fed” public events—one in English and one in Spanish—explored the reasons behind Europe’s sovereign debt crisis and what the implications may be for the United States.