Recently added articles from Economic Commentary (Cleveland):
A new approach to gauging inflation expectations.
Aug 01, 2009; ... Policymakers at the Federal Reserve and other central banks continually face the "Goldilocks" question--is monetary policy too tight, too loose, or just right? It would help if the central bank knew what real interest rates and expected inflation actually were, but these are not easy to ...
Credit default swaps and their market function.
Jul 01, 2009; ... In the context of the current recession and the accompanying financial crisis, one hears of a vast number of innovations in the products that investors and banks can use for handling various risks. Since the 1997 invention of the credit default swap (CDS), assuming and removing credit (or ...
The check is dead! Long live the check! A Check 21 update.
Jun 01, 2009; ... The Check Clearing for the 21st Century Act (Check 21), signed into law in 2003 and effective one year later, was intended to foster innovation in the payments system and enhance its efficiency. Although conceived before September 11, 2001, Check 21 attained new urgency after the terrorist ...
Ten myths about subprime mortgages.
May 01, 2009; ... Subprime mortgages have been getting a lot of attention in the United States since 2000, when the number of subprime loans being originated and refinanced shot up rapidly. The attention intensified in 2007, when defaults on subprime loans began to skyrocket. Researchers, policymakers, and ...
Foreclosure metrics.
Apr 01, 2009; ... Much has been written about the severity of the foreclosure crisis in Cleveland. Many observers cite weak economic conditions and above-average subprime-mortgage issuance as central factors in Cleveland's high rate of foreclosures. While these factors undoubtedly play a role in ...