Economic Review - Federal Reserve Bank of Kansas City


Vol. 104, No. 4, Fourth Quarter

Payment Card Fraud Rates in the United States Relative to Other Countries after Migrating to Chip Cards
Although the payment industry around the world has taken major steps to mitigate payment card fraud, the United States has . lagged somewhat behind. In the 2000s, many countries adopted or began migrating to a chip card technology called "Europay, Mastercard,...
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Why Aren't More People Working in Low- and Moderate-Income Areas?
I.The Employment Share of the Working-Age PopulationTo measure differences in employment between LMI and nonLMI communities, I consider only working-age individuals (18-64) and define "communities" as census tracts.1 Restricting my analysis to the 18-64...
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Spending Patterns and Cost of Living for Younger versus Older Households
Economists often use measures of inflation-the percent change in the aggregate price level in a given period-to estimate changes in the cost of living. For example, an annual inflation rate of 2 percent means that the average household will spend 2 percent...
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Vol. 103, No. 3, Third Quarter

The Widening Divide in Business Turnover between Large and Small Urban Areas
Business turnover-the rate at which new firms enter the economy and old firms exit it-has been declining for at least 40 years in the United States. Declining business turnover is potentially problematic, because it may signal a drop in innovation and...
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Mapping Stress in Agricultural Lending
Repayment rates for farm loans have declined every quarter since the second quarter of 2013, suggesting heightened stress in agricultural lending. This stress could be amplified if the outlook for the agricultural sector remains downbeat. Farm income...
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Energy Investment Variability within the Macroeconomy
Over the past 10 years, the U.S. energy sector has exerted substantial influence on overall U.S. business fixed investment. From 2010 to 2014, a time when energy production in the United States was expanding, investment in the energy sector was a boon...
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Vol. 103, No. 2, Second Quarter

Who Are the Unbanked? Characteristics beyond Income
As the U.S. economy recovered from the Great Recession, more households entered the banking system. The national unbanked , rate, measured as the share of U.S. households that do not have a checking or savings account, steadily declined from 8.2 percent...
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Forecasting Current-Quarter U.S. Exports Using Satellite Data
Forecasting export growth can be challenging. Export growth depends heavily on demand from foreign countries, which is difficult to directly measure. In practice, forecasters usually approximate strength in foreign demand through growth in foreign gross...
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Vol. 102, No. 2, Second Quarter

Lifting the U.S. Crude Oil Export Ban: Prospects for Increasing Oil Market Efficiency
Over the past decade, U.S. shale oil has substantially changed the nation's energy landscape. The introduction of hydraulic fracturing and horizontal drilling has led to a dramatic increase in shale oil production that has ushered the United States from...
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