The Region June 2010 | The Federal Reserve Bank of Minneapolis

Stanford University economist on labor market dynamics, financial frictions, monetary policy and dating a recession

Failure to Communicate?
Sound economic policy demands superior research and clear communication [PDF]

Taxing Risk and the Optimal Regulation of Financial Institutions
An Economic Policy Paper on imposing a tax to eliminate risk externalities from unavoidable government bailouts [PDF]
Federal Reserve Liquidity Programs: An Update
A review of the size, status and results of the Fed's programs to cope with crisis [PDF]
Awash in Cash
Why do China's banks hold low-yield U.S. Treasuries? A theory of economic transition [In Brief] [PDF]
Too Big to Forget
A research conference at the Minneapolis Fed honors the legacy of former President Gary Stern [PDF]

A new Region feature that provides summaries of recent papers.

Taxes, Wages and Human Capital
Progressive tax policies decrease before-tax wage inequality, suggests research by Fatih Guvenen and colleagues, by diminishing motivation to acquire higher education and job skills [PDF]
The Bitter Effect of Cartels
In a case study of the U.S. sugar industry, James Schmitz and co-authors demonstrate that cartels can lead to big reductions in productivity [PDF]