Economic Perspectives

A professional journal containing articles on economics, monetary theory and policy, payments systems, banking and finance, based in the Chicago, Illinois, region.

Articles from Vol. 30, No. 3, Fall

Are U.S. and Seventh District Business Cycles Alike?
Introduction and summary When academic economists talk about business cycles, they have something more general in mind than persistent fluctuations of gross domestic product (GDP) about its trend, which is the definition typically used by business...
Right before the End: Asset Decumulation at the End of Life
Introduction and summary What happens to people's assets in the period immediately preceding their death? This is an important question for a number of reasons. To begin with, the elderly have a lot of wealth--households whose heads are 65 or older...
The Great Turn-of-the-Century Housing Boom
Introduction and summary In the last ten years, residential investment as a share of gross domestic product (GDP) has reached levels not seen since the 1950s. At the same time, the homeownership rate has climbed to levels never before achieved....
The Self-Employment Duration of Younger Men over the Business Cycle
Introduction and summary There are two competing views of self-employment that appear to be at odds with one another. On the one hand, entrepreneurs are credited with stimulating job growth and encouraging innovation. President George W. Bush clearly...