The Region December 2002 | The Federal Reserve Bank of Minneapolis

The first deputy managing director of the International Monetary Fund discusses currency boards, the

Gary Stern discusses the importance of economic literacy in understanding public policy issues.

Financial Literacy Education: A Potential Tool for Reducing Predatory Lending?
A review of studies on the effectiveness of financial literacy training and whether such training results in responsible financial decision making by consumers.
Trading Places
Why do nations trade and where do industries locate? A recent Fed paper considers competing theories.
Lender of More Than Last Resort
Recalling Section 13(b) and the years when the Federal Reserve banks opened their discount windows to district businesses in times of economic stress. [PDF]
How the Fed Made Section 13(b) Loans
Exchange Roller Coasters: Where's the steering wheel, and does it work?
The strong dollar-weak dollar debate and the vagaries of currency exchange rate regimes.
A Little-Talked-About Solution to the Long-Term Budget Problem
Guest Editorial: Preston Miller suggests that long-term federal budget problems, exacerbated by the needs of an aging population, might be alleviated by a new approach to funding benefits received by that same aging population.