Recent Research

The Effect of the U.S. Energy Boom on the Trade Deficit

By Craig S. Hakkio and Jun Nie
Macro Bulletin Craig S. Hakkio and Jun Nie predict the real energy trade deficit will decline at a much slower pace in 2015 than in the past few years.

Capturing Rents from Natural Resource Abundance: Private Royalties from U.S. Onshore Oil & Gas Production

By Jason P. Brown, Timothy Fitzgerald, and Jeremy G. Weber
RESEARCH WORKING PAPERIn 2014 the six major shale plays produced more than $213 billion in oil and gas generating $39 billion in royalties, while local ownership of royalties averaged 12 to 55 percent across the major plays.

Faster Payments in the United States: How Can Private Sector Systems Achieve Public Policy Goals?

By Fumiko Hayashi
RESEARCH WORKING PAPERTo help private-sector faster payments systems achieve public policy goals of ubiquity, safety, and efficiency, the Federal Reserve could influence governance of the private-sector systems through its leadership role.

Millennials, Baby Boomers, and Rebounding Multifamily Home Construction

By Jordan Rappaport
Macro BulletinJordan Rappaport analyzes the forces driving the recent rebound in multifamily construction. The article is summarized in The Macro Bulletin.

Confident about Quitting: Job Leavers and Labor Market Optimism

By José Mustre-del-Río and William Xu
Macro Bulletin Mustre-del-Río and Xu compare two measures of voluntary turnover and find job quitters have recently become more optimistic about their employment opportunities.

Economic Review

Has the U.S. Economy Become Less Interest Rate Sensitive?

By Jonathan L. Willis and Guangye Cao
Jonathan L. Willis and Guangye Cao investigate shifts in the economy’s sensitivity to interest rates by examining how total employment responds to changes in monetary policy. The article is summarized in The Macro Bulletin.

The Response of Employment to Changes in Oil and Gas Exploration and Drilling

By Jason Brown
Jason Brown examines how the recent period of declining oil prices has affected employment in oil- and gas-producing states.

Millennials, Baby Boomers, and Rebounding Multifamily Home Construction

By Jordan Rappaport
Jordan Rappaport analyzes the forces driving the recent rebound in multifamily construction. The article is summarized in The Macro Bulletin.

Commemorating 100 Years of Research

By Esther L. George
This year, the Kansas City Fed will commemorate the centennial of its flagship research publication, the Economic Review. Esther L. George, the Bank's President and Chief Executive Officer, highlights how the publication has evolved over time.

What Could Lower Prices Mean for U.S. Oil Production?

By Nida Cakir Melek 
Author estimates the effects of the recent oil price decline on 2015 oil production.

More articles

Jackson Hole Economic Policy Symposium

Our annual symposium draws central bankers, policymakers, academics and economists from around the world. The proceedings include papers, commentaries and discussions.
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Monetary Policy & Macroeconomics

Issues of importance to the Federal Reserve, including financial markets, banking, monetary policy and more.

Banking, Payments & Financial Markets

Issues affecting the banking and payments industries.

Regional Research

Economic geography and developments for national monetary policy deliberations.

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Economic issues affecting low- and moderate- income communities, including fair and impartial access to credit.

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Insights on agricultural and rural economies regionally and nationally.