Economic Trends & Conditions in the Fourth District

Analysis, commentary, and data on issues that concern the residents and businesses of the eastern Midwest — Kentucky, Ohio, Pennsylvania, and West Virginia.

Economic Conditions

A Cash Buildup and Business Investment
Companies have built up large cash reserves over the past couple of years. Our discussions with local business leaders give some insight into their reasons for the buildup and some idea of their plans for spending in the near future. Read more

Economic Growth

Workshop on Entrepreneurial Finance: A Summary
This Policy Discussion Paper summarizes papers that were presented at the Workshop on Entrepreneurial Finance, which was held March 12–13, 2009, at the Federal Feserve Bank of Cleveland. Researchers presented new empirical research that exploits data sets on entrepreneurial activity that are based on broad and representative data samples. Papers in the workshop focused primarily on analyses of the sources and structure of start-up finance, including the importance of bank lending, venture capital, angel investors, and owner equity. [NOTE: This issue is available only on-line. It was not printed.] Read more (PDF)

Education

Financial Literacy

Foreclosure

Government Finance

State Revenue Declines in the Fourth District
Each of the four states of the Fourth District—Kentucky, Ohio, Pennsylvania, and West Virginia—has experienced substantial declines in tax revenue during the most recent recession. Falling revenues force state lawmakers to cut expenditures or raise tax rates because of balanced-budget requirements. Either of these can slow economic activity. States have been cutting expenditures, although the cuts have been partially mitigated by federal transfers and the use of the states’ own rainy day funds, but the states of the Fourth District will continue to face challenges in balancing revenue and expenditures until more robust economic growth returns. Read more
  • Disadvantaged Business Enterprise Goals in Government Procurement Contracting: An Analysis of Bidding Behavior and Costs (PDF)
  • Ohio’s Budget (PDF)
  • Municipal Finance in Ohio (PDF)
  • See all Government Finance content

Housing

Why Didn’t Canada’s Housing Market Go Bust?
Housing markets in the United States and Canada are similar in many respects, but each has fared quite differently since the onset of the financial crisis. A comparison of the two markets suggests that relaxed lending standards likely played a critical role in the U.S. housing bust. Read more (PDF)

Labor Markets, Unemployment, and Wages

Ohio’s Labor Market Cycles
Now that it appears that the worst of the “great recession’ is over, assessing the damage done to Ohio’s labor market offers insights into what a potential recovery might look like in the state. Read more

Manufacturing

The Manufacturing Economy: Proximity and Performance
Accompanying Graph
Register for our May 6 conference on issues facing U.S. manufacturing. Participants from industry, academia, and government will be presenting research and discussing the changing role of manufacturing.. Read more

Metropolitan Area Profile

Regional Banking and Financial Institutions

Trade