New Ideas on Economic Policy from the Federal Reserve Bank of Cleveland
Economic policy is in the forefront of a lot of people’s minds today. Forefront, the Cleveland Fed’s showcase of policy ideas, is devoted to critical policy issues facing our region and the nation at-large.
Public Finances
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Shining Light on a Dark Corner
The federal government is not the only part of the public sector with a debt overhang problem. Many state and municipal budgets are in woeful shape. What concerns should we have about public pensions and municipal bond markets? In this issue of Forefront, we explain where risks could be building and how reforms might help forestall their impact on the broader economy and financial system. You can also watch a short Drawing Board video explaining the ins and outs of public finances.
Plus, Sandra Pianalto, Federal Reserve Bank of Cleveland President and CEO, opens up in this one-on-one interview with Forefront.
From the Print Edition: Public Finances | Spring 2012
Volume 3 Number 1
Download the full print version
- President’s Message
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- The more Americans understand and anticipate how the Federal Reserve operates, the more effective our policies can be. Read more (PDF)
- Bank Capital Requirements
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- A trio of academics discuss some of the common misunderstandings about and underlying benefits of strong bank capital buffers. Read more (PDF)
- Public Pensions Under Stress
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- As some state and local governments struggle to meet their obligations to retirees, we look into how stress on pension funds and municipal finance could have implications for the wider economy. Read more (PDF)
- Monitoring the Risks of State and Local Government Finance
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- Just how much should most Americans worry that some state and local governments could go into default? Not as much as you might think. Read more (PDF)
- Navigating the Legal Landscape for Public Pension Reform: Travel at Your Own Risk
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- Can the law help fill gaps in public pension funding? Read more (PDF)
- New Consumer Watchdog Stands Guard
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- Leonard Chanin, the associate director of regulations at the Consumer Financial Protection Bureau, takes questions about the new agency’s approach to community bank regulation. Read more (PDF)
- The Economics of Taxation
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- An economist ponders the tradeoffs in tax system design. Read more (PDF)
- Meeting the Demand for Cash
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- The infrastructure of an evolving process. Read more (PDF)
- Three Reasons Why Converting Vacant Homes to Rentals Will Be a Challenge in Some Places...and Three Ways It Can Succeed
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- When a lender takes ownership of foreclosed property, it gets a new name—real estate owned—and goes back into the hands of the lender. And for scores of lenders and neighborhoods, that’s a problem. Read more (PDF)
- Closing the Region’s Education Gaps
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- Community colleges are doing more than ever to identify the types of workers that businesses need and to train students for them. Read more (PDF)
- Book Review: And the Money Kept Rolling In (and Out): Wall Street, the IMF, and the Bankrupting of Argentina
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- A past sovereign-debt crisis holds lessons for the present. Read more (PDF)
- Interview with Sandra Pianalto
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- Federal Reserve Bank of Cleveland President and CEO opens up on her policy views, economic outlook, and the differences between Greenspan’s Fed and Bernanke’s. Read more (PDF)
Forefront Topics
Book Reviews
- Book Review: The Economics of Enough: How to Run the Economy as if the Future Matters
- Book Review of Fault Lines: How Hidden Fractures Still Threaten the World Economy
- See all Book Reviews
Credit
- Spent: Why Americans Are Saving So Much...
- Wealth Building for Low-Income Families
- Overextended, Underinvested: The Debt Overhang Problem
- See all Credit
Education
- Use It or Lose It: College Grads and Underemployment
- Stop Investing in Stadiums...Start Investing in Kids
- President’s Message
- See all Education
Employment
- Unemployment and the Great Recession
- The Labor Force: To Work or Not to Work
- Unemployment Benefits: Help or Hindrance?
- See all Employment
Financial Crisis
- Book Review of Fault Lines: How Hidden Fractures Still Threaten the World Economy
- The Big Short: Inside the Doomsday Machine by Michael Lewis
- Spotting a Financial Crisis Before It Happens
- See all Financial Crisis
Housing
- Renting: The New American Dream
- Slowing Speculation: A Proposal to Lessen Undesirable Housing Transactions
- Battling the Next Phase of the Housing Crisis
- See all Housing
Inflation
- President’s Message
- A Short History of Inflation Targeting at the Federal Reserve: Q&A with Marvin Goodfriend
- Is an explicit inflation objective consistent with a dual mandate?
- See all Inflation
Monetary Policy
- Is an explicit inflation objective consistent with a dual mandate?
- Isn’t pursuing a low and stable inflation rate going to cost the economy jobs?
- A Short History of Inflation Targeting at the Federal Reserve: Q&A with Marvin Goodfriend
- See all Monetary Policy
Payments
Reader Comments
- Reader Comments: A Different Take on Public Pensions
- Readers’ Comments
- Reader Comments
- See all Reader Comments
Recession
Regulatory Reform
- Rules and Regulations: How the Details Take Shape
- Keeping Banks Strong
- How to Build a Bad Bank--for the Greater Good
- See all Regulatory Reform
The Economy
Forefront Authors
Jean Burson
- A Framework for Systemically Important Institutions
- Monitoring the Risks of State and Local Government Finance
- See all from Jean Burson
Doug Campbell
- Fed: Say Goodbye to Hidden Overdraft and Gift Card Fees
- Overextended, Underinvested: The Debt Overhang Problem
- Job Talk: Chairman Bernanke joins business leaders at Ohio State University
- See all from Doug Campbell
John Carlson
- Isn’t pursuing a low and stable inflation rate going to cost the economy jobs?
- Public Pensions Under Stress
- See all from John Carlson
Daniel Carroll
Anne DiTeodoro
Ozgur Emre Ergungor
- The Community Reinvestment Act and the Economics of Lending in Lower-Income Neighborhoods
- Slowing Speculation: A Proposal to Lessen Undesirable Housing Transactions
- See all from Ozgur Emre Ergungor
Thomas Fitzpatrick IV
- Regulating the Raters: Key Provisions in Proposed Reforms
- Making Financial Markets Safer for Consumers: Lessons from Consumer Goods Markets and Beyond
- Video: Forefront Roundtable
- See all from Thomas Fitzpatrick IV
Daniel Hartley
Joseph Haubrich
- Interview with Charles Calomiris
- Keeping Banks Strong
- How do we know when people are worried about inflation?
- See all from Joseph Haubrich
Owen Humpage
- Isn’t pursuing a low and stable inflation rate going to cost the economy jobs?
- See all from Owen Humpage
Margaret Jacobson
- Survey Says: Consumer Attitudes May Hold the Key to a Sustained Recovery
- See all from Margaret Jacobson
Moira Kearney-Marks
Amy Koehnen
- Mortgage Counseling, Plain Language, and Financial Education: What Works?
- Unemployment Benefits: Help or Hindrance?
- Renting: The New American Dream
- See all from Amy Koehnen
Daniel Littman
- Making Financial Markets Safer for Consumers: Lessons from Consumer Goods Markets and Beyond
- Video: Forefront Roundtable
- The Big Short: Inside the Doomsday Machine by Michael Lewis
- See all from Daniel Littman
April McClellan-Copeland
- Five Big Ideas about Consumer Finance Education
- Rules and Regulations: How the Details Take Shape
- Closing the Region’s Education Gaps
- See all from April McClellan-Copeland
Cindy Merritt
Brent Meyer
- How can inflation be considered low when food and gas prices are so high?
- Is an explicit inflation objective consistent with a dual mandate?
- Interview with Mark Bils
- See all from Brent Meyer
Anne O'Shaughnessy
- View: Neighborhood Stabilization: Early Reports on Policymaking in Action
- Battling the Next Phase of the Housing Crisis
- See all from Anne O'Shaughnessy
Nelson Oliver
Stephen Ong
- Spotting a Financial Crisis Before It Happens
- Early Warning: Introducing the Cleveland Financial Stress Index
- See all from Stephen Ong
Mehmet Pasaogullari
- How can inflation be considered low when food and gas prices are so high?
- See all from Mehmet Pasaogullari
Mary Helen Petrus
Sandra Pianalto
- President’s Message
- Housing and the Federal Reserve
- President’s Message
- See all from Sandra Pianalto
Robin Ratliff
- Book Review: The Economics of Enough: How to Run the Economy as if the Future Matters
- See all from Robin Ratliff
Mark Schweitzer
Mark Sniderman
- Interview with Anil K. Kashyap
- The Fed’s Exit Strategy Explained
- Audio Presentation: The Fed’s Exit Strategy Explained
- See all from Mark Sniderman
Murat Tasci
James Thomson
- Spotting a Financial Crisis Before It Happens
- Keeping Banks Strong
- How to Build a Bad Bank--for the Greater Good
- See all from James Thomson
Stephan Whitaker
- Making Financial Markets Safer for Consumers: Lessons from Consumer Goods Markets and Beyond
- Video: Forefront Roundtable
- See all from Stephan Whitaker