The federal government wields substantial influence over resource allocation in the economy through its provision of credit and risk-bearing services to the private economy. As the federal government has expanded its presence in the U.S. economy during this century, it has increasingly developed...

An examination of how and why individual financial institutions vary in their propensity to attract and approve mortgage applications from minorities, using Home Mortgage Disclosure Act data.

A baseline evaluation of the variation in mortgage credit flows across different types of neighborhoods using HMDA data collected in 1990 and 1991.

An evaluation of the feasibility of using Home Mortgage Disclosure Act (HMDA) data to form quantitative measures of fair lending for use in enforcement. The authors find that cross-lender differences in minority and low-income originations primarily reflect differences in application rates, not...

A discussion of the labor-market consequences of the Service Contract Act on Federal Reserve System costs and operations as they pertain to group transportation services.

An explanation of why, in the face of a booming economy, low unemployment, and scant inflation pressures, the Federal Reserve must continue its campaign to achieve price stability.

A diverse group of economists and policymakers gathered in Woodstock, Vermont, in October 1999 to discuss the conduct of monetary policy in a low-inflation environment. The conference was held at a time when many countries had successfully reduced their inflation rates to the low single digits,...

A discussion of how mortgage lenders might use posted lending terms to signal both their eagerness to take new loan applications and their lending standards.

A look at how the quantity and source of information flowing to lenders can affect their credit decisions, and an argument that lenders should take advantage of the CRA provisions that allow them to address their obligations through joint-lending programs and qualified investments.