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Economic Review

A quarterly research publication with articles on macroeconomics and monetary policy, regional and international economics, and banking and financial markets.

Recent Articles

Economic Review

Do Immigration Restrictions Affect Job Vacancies? Evidence from Online Job Postings

Employers in immigrant-reliant labor markets increased their job search efforts in response to the 2016–21 decline in immigration.

Economic Review

How Mergers in the Farm Credit System Have Affected Ag Banks

Ag banks likely altered some of their strategic portfolio decisions after an FCS merger in their local credit market.

Economic Review

Addressing Traditional Credit Scores as a Barrier to Accessing Affordable Credit

Traditional credit scores do not always reflect a consumer’s creditworthiness and may drive disparities in credit access.

Economic Review

Understanding State and Local Government Spending over the Business Cycle

Since the mid-1980s, state and local government spending has followed a consistently procyclical pattern, declining during...

Economic Review

The Implications of Unrealized Losses for Banks

Lower securities valuations have reduced banks’ liquidity and capital, potentially dampening loan growth.

Economic Review

The Employment Effect of an Increase in the National Minimum Wage: Review of International Evidence

Increasing the federal minimum wage gradually and steadily may help minimize negative employment effects.