Economic Review - Federal Reserve Bank of Kansas City

Articles from Vol. 81, No. 2, Second Quarter

A New Micro View of the U.S. Rural Economy
Rural areas are thought to have two salient features, remoteness and small scale, that tend to inhibit economic growth. These features have explained at least partially why economic growth in the nation's rural areas has generally trailed that in metropolitan...
Banking Consolidation in Tenth District States
Bank mergers have attracted much attention during the last year due to a surge in mergers among the nation's largest banking companies. The consolidation of the banking industry has been going on much longer, however. Since the early 1980s, the number...
Credit Derivatives: New Financial Instruments for Controlling Credit Risk
One of the risks of making a bank loan or investing in a debt security is credit risk, the risk of borrower default. In response to this potential problem, new financial instruments called credit derivatives have been developed in the past few years....
Rethinking Financial Regulation
In recent years, revolutionary changes in financial markets, combined with incidents such as Barings and Daiwa, have revived concerns about the adequacy of financial regulation. Historically, financial regulatory policy has been driven by the view that...
The Long-Run Costs of Moderate Inflation
Long-run price stability is generally considered to be a primary goal of monetary policymakers in many countries. One reason policymakers care about inflation is that it can harm economic performance. Numerous studies of the impact of inflation on economic...
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