Margaret Jacobson

We suggest two reasons why the Federal Reserve failed to prevent the collapse of intermediation during the Great Depression.

We investigate how a banking panic was avoided in the crisis of 194 by examining data on the issues of Aldrich-Vreeland emergency currency and clearing house loan certificates to New York City institutions.

We investigate how a banking panic was avoided in the crisis of 194 by examining data on the issues of Aldrich-Vreeland emergency currency and clearing house loan certificates to New York City institutions.

We use a Taylor rule to investigate two possible reasons why forecasters’ projections for short-term interest rates differ so much.

Credit default swaps were traded over the counter before the financial crisis. Reforms are being put in place which will move the majority of credit default swaps transactions to more transparent exchanges.

Investment in structures is still 29 percent below its pre-recession peak.

Labor income has been declining as a share of total income earned in the United States for the past three decades.

Federal Reserve Bank of Cleveland economists examine the many forces that will determine how “great” the most recent recession turns out to be. Find the articles, plus our interview with economic historian Price Fishback, in the fall 2011 issue of Forefront.