Business Review (Federal Reserve Bank of Philadelphia)

Business Review (Federal Reserve Bank of Philadelphia) is a magazine specializing in General topics.

Articles from Summer

De-Leveraging and the Financial Accelerator: How Wall Street Can Shock Main Street
In the first quarter of 2006, when delinquencies on subprime mortgages first began their sustained rise, the unemployment rate in the United States stood at 4.75 percent. Under the impact of the ensuing financial crisis, the U.S. economy fell into...
Hiring, Job Loss, and the Severity of Recessions
What drives movements in the unemployment rate during expansions and recessions? Obviously, much of it is driven by the hiring and firing decisions of individual businesses. When businesses hire more workers than they lose (whether those workers leave...
Monetary Policy in a Liquidity Trap
Monetary policy typically operates by targeting a short-term interest rate. For example, in the United States, the Federal Reserve targets the federal funds rate. In order to conduct monetary policy, central banks generally vary the short-term interest...