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Focuses on the issue of representation in the use of paper money in the United States. Substance of money; Creation of representations; Paper money art work as a characteristically American art form; Process of exchange.

The article presents abstracts on economics. These abstracts include "Higher-Order Perturbation Solutions to Dynamic, Discrete-Time Rational Expectations Models," by Eric T. Swanson, Gary Anderson and Andrew Levin, "Monetary Policy Shocks, Inventory Dynamics, and Price-setting Behavior," by Yongseung Jung and Tack Yun, and "Could Capital Gains Smooth a Current Account Rebalancing?," by Michelle Cavallo and Cedric Tille.

In this article, the author discusses research which developed a theory that is able to account analytically for U.S. consumption and employment patterns experienced during the 2008-2009 Great Recession. It references the Minneapolis Fed Working Paper 703, "The Stolper-Samuelson Effects of a Decline in Aggregate Consumption," authored by Fed consultant Erzo G. J. Luttmer and published online at minneapolisfed.org. The article also discusses how Luttmer supported his theory.

In this article, the author discusses a paper which revisited the paradox of thrift, an idea that was popularized by British economist John Maynard Keynes in the 1930s. The paper "Engineering a Paradox of Thrift Recession," authored by Minneapolis Fed economists Zhen Huo and José-Victor Rios-Rull and published in Minneapolis Fed Staff Report 478 online at minneapolisfed.org, is referenced. The article also discusses the economic model that was examined by two researchers.

Focuses on the growing number of individuals and organizations storing documents on electronic systems. Comparison between electronic and paper storage; Concerns about the admissibility of electronic documents.

Presents three articles available online regarding the iron ore markets. "Competitive Pressure and Labor Productivity: World Iron Ore Markets in the 1980s," by José E. Galdón-Sánchez and James A. Schmitz Jr.; "What Determines Labor Productivity?: Lessons From the Dramatic Recovery of the U.S. and Canadian Iron Ore Industries," by James A. Schmitz Jr.; "Threats to Industry and Survival and Labor Productivity: World Iron Ore Markets in the 1980s," by José E. Galdón-Sánchez and James A. Schmitz Jr.

The article discusses two studies on papers by Minneapolis federal economists on sovereign debt. It presents the possible mechanism behind debt contagion, or the phenomenon by which several nations default on their sovereign bonds at about the same time as examined by Christina Arellano and Yan Bai. It discusses the proposals by Manuel Amador and Mark Aguilar on how national governments can manage their sovereign debt under financial stress.

An interview with U.S. economist Neil Wallace is presented. The interview begins with the influence of Bob Lucas' paper on rational expectations on the work of Wallace. He then discusses the importance of the idea of establishing microfoundations for macroeconomics. Wallace also talks about the existence and utility of money, the use of electronic payments and debit and credit cards, and the implementation of quantitative easing.

The article presents a reprint of the article "Financial Innovations and the Real Economy: Conference Summary," which appeared in the March 2, 2007 issue of the "Federal Reserve Bank of San Francisco (FRBSF) Economic Letter." It presents a summary of the papers presented at a conference. Specifically, the papers address the impact of innovations in the financial sector on the real economy.

The article presents a reprint of the article "Labor Markets and the Macroeconomy: Conference Summary," which appeared in the July 21, 2006 issue of the "Federal Reserve Bank of San Francisco (FRBSF) Economic Letter." The article presents a summary of the papers discussed at a conference on labor markets and macroeconomy. Some papers focus on wage bargaining and its consequences for wage and employment volatility.

The article presents several papers during the Financial Innovation and the Real Economy conference on November 16-17, 2006 in the U.S. The conference featured seven papers that address the impact of innovations in the financial sector on the real economy. The first paper begins by observing several facts about the composition of the country. While, the other papers focuses on the importance of financial innovation on consumers and household level.

Information about several papers discussed at the conference on labor markets and the macroeconomy in San Francisco, California is presented. One research paper addresses aspects of wage bargaining and its impact on wage and employment volatility over the business cycle. Another paper focuses on the International Wage Flexibility project.

Summarizes the papers presented at a conference on “Fiscal and Monetary Policy” held at the Federal Reserve Bank of San Francisco in California on March 4 and 5, 2005, and provides a list of those papers at http://www.frbsf.org/economics/conferences/0503/index.html.

Since the early 1990s, the United States has borrowed heavily from its trading partners. This paper presents an analysis of the impact of an end to this borrowing, an end that could occur suddenly or gradually. Modeling U.S. borrowing as the result of what Bernanke (2005) calls a global saving glut--where foreigners sell goods and services to the United States but prefer purchasing U.S. assets to purchasing U.S. goods and services--we capture four key features of the United States and its position in the world economy over 1992-2012: (1) in the model, as in the data, the U.S. trade deficit first increases, then decreases; (2) the U.S. real exchange rate first appreciates, then depreciates; (3) the U.S. trade deficit is driven by a deficit in goods trade, with a steady U.S. surplus in service trade; and (4) the fraction of U.S labor dedicated to producing goods--agriculture, mining and manufacturing-- falls throughout the period, Using this model, we analyze two possible ends to the saving glut: an orderly, gradual rebalancing and a disorderly, sudden stop in foreign lending as occurred in Mexico in 1995-96. We find that a sudden stop would be very disruptive for the U.S. economy in the short term, particularly for the construction industry. In the long term, however, a sudden stop would have a surprisingly small impact. As the U.S. trade deficit becomes a surplus, gradually or suddenly, employment in goods production will not return to its level in the early 1990s because much of this surplus will be trade in services and because much of the decline in employment in goods production has been, and will be, due to faster productivity growth in goods than in services. [ABSTRACT FROM AUTHOR]

A reprint of the research article "Who Lives Longer?," by Josep Pijoan-Mas and Victor Rios-Rull, which appeared online in voxeu.org is presented. The research used the Health and Retirement Study (HRS) to look at the different expected longevity by educational groups, wealth quintiles, labor market status and marital status. The article also indicates education papers to be far more powerful factor than wealth or marital status.

The article discusses research which examines the costs of monopoly and tariffs within industries. It notes that monopoly and high tariffs significantly lower productivity within establishments and lead to misallocation within industries. These findings differ from economist Arnold Harberger's landmark 1954 paper, which claims that the cost of monopoly is trivial.

An interview with Janet Currie, director of Princeton University's Center for Health and Wellbeing, is presented. Currie also serves as director of the U.S. National Bureau of Economic Research, and is known for her keen insight, innovative technique and unwavering dedication to solid research. She discusses her work on the complex and sometimes conflicting financial incentives in health care and how it relates to her paper on physician-induced antibiotic use in China. INSET: More About Janet Currie.

Information about the papers discussed at the Asia Economic Policy Conference hosted by the Federal Reserve Bank of San Francisco Center for Pacific Basin Studies held in San Francisco, California from November 29-30, 2011 is presented. It states that the conference discussed the role of Asia in the post-crisis global economy. Federal Reserve Board of Governors Vice Chair Janet Yellen noted that emerging Asia's growth strengthened the global economy in the wake of the financial crisis.

Information about several papers discussed at the conference titled "Structural and Cyclical Elements in Macroeconomics" held March 16, 2012, sponsored by the Federal Reserve Bank of San Francisco in California, is presented. Topics include cyclical and structural economic changes, stimulatory monetary and fiscal policies, and financial system frictions. The conference featured several economists including Martin Sommer, Jinzu Chen, and Andreas Fuster.

The article presents summaries of several papers delivered at the Federal Reserve Bank conference on workforce skills and the impact it entails to the U.S. economy. It notes that the country's high unemployment rate was caused by the widespread mismatches between the ability of jobseekers and the dire needs of employers. It also mentions that job openings have grown more rapidly than unemployment has fallen which raise concerns about mismatches that may be overblown.

The article discusses the highlights of the first Heller-Hurwicz Forum on Social Insurance, held at University of Minnesota, on November 16 to 17, 2011. The forum covered studies and public policies on new designs of social insurance programs, led by Iv´n Werning, Donald Marron, and Laurence Kotlikoff among others. Panel discussions and research paper presentations were also conducted to delve into the issues of tax spending and management, and their effect on social insurance.

The article examines the effectiveness of economic policy papers proposed by policy makers in the U.S. to address the effects of the 2008 financial crisis on the credit market. An option for the Financial Stability Oversight Council to consider in regulating the shadow banking systems is proposed. Included are charts on the performance of asset-backed securities (ABS), the U.S. home index and real estate bonds. It concludes that most policies were ineffective, including the enacted, term asset-backed securities loan facility (TALF) by the New York Fed.

The author focuses on the importance of incentives in bank insurance systems. He relates that the challenge in modern financial system regulation is ensuring that government policy does not promote excessive risk-taking by financial institutions. He cites the research paper of Minneapolis Federal Reserve Senior Research Officer Warren Wabber entitled "Bank Liability Insurance Schemes Before 1865" which examines the history of bank regulation in the U.S. before the Civil War.

The article offers information on papers discussed at the annual macroeconomics conference of the Federal Reserve Bank of San Francisco. It explores the economic performance of the U.S. and international economies before, during and after the financial crises, which are associated with economic downturns and the response of monetary policy to offset its impact. It discusses various ways of integrating the imperfections of financial market into traditional macroeconomic analysis.

Information about the papers presented at the "Financial Market Imperfections and Macroeconomics" conference of the Federal Reserve Bank of San Francisco in California is presented. It considers different ways of integrating financial market imperfections into traditional macroeconomic analysis. It states that the common finding was that the monetary policy can and should respond to financial crises to prevent deflation.

The article discusses the work of Monika Piazzesi and Martin Schneider, who addressed questions regarding the asset market. They looked at the relationships between various types of assets, such as stocks, bonds and real estate, and sought to find out how prices relate to each other, how allocations change with inflation and why portfolios in the U.S. change so dramatically. In three papers, they address beliefs regarding housing, why portfolios change from stocks to homes and how such affect household income, and how expectations affect investments.

The article offers suggestions on why stocks provide higher returns than bonds. It cites the theory that the former should give no more than 1% greater returns than bonds. In reality, however, the former provides almost as much as 7% more annually. Despite various theories proposed, such as the 1985 paper "The Equity Premium: A Puzzle," by Rajnish Mehra and Edward Prescott, it is still seen as a mystery. Fatih Guvenen, a professor at the University of Minnesota, suggests that since stockholders require higher returns, they are willing to take more risks.

Information about several papers discussed at the conference on "Macroeconomic Models for Monetary Policy," held on March 6, 2009, at the Federal Reserve Bank of San Francisco is presented. At the event, it was discussed that the speed of price adjustment is important for monetary policy. Some researchers used individual price quotes from the consumer price index to create a new measure of price changes.

The article examines why many widows choose to live alone. It makes reference to the research paper of Jose-Victor Rios-Rull and Carlos Bethencourt called "On the Livin Arrangements of Elderly Widows." Relevant statistics from the 70s to the 90s are provided to show the transition of widows choosing to live alone. Factors such as income and the widow's child reportedly plays a role in such decision making.

Provides information on a conference held by the Federal Reserve Bank of Minneapolis to discuss the agenda of monetary economics for the coming decades in Minnesota, in May 2004. Roles played by money; Impact of inflation on economic output, according to a paper presented at the conference; Paradoxes in monetary policy.

Presents a summary of six papers presented at a conference on "Interest Rates and Monetary Policy" held at the Federal Reserve Bank of San Francisco on March 19 and 20, 2004. Term of the structure of interest rates and how it interacts with macroeconomic fundamentals; Model estimation on high-volatility regime that tends to be associated with economic downturns; Use of the dynamic New Keynesian model for constructing and evaluating monetary policy rules.

Presents an excerpt from the working paper 'The Affordable Housing Shortage: Considering the Problem, Causes and Solutions.'

Focuses on the economic conference held at the Federal Reserve Bank of Minneapolis in October 2000 concerning the Great Depressions of the 1930s. Standard approach of economists in determining the causes of the depression; Factors in which macroeconomic performance relies; Overview of the papers presented at the conference.

Reports on how business-to-business (B-to-B) use of the Internet is slowly transforming the United States economy. Real efficiencies for the economy; Creation of new markets; Cutting the paper trail; Obstacles to smooth transition; B-to-B forecasts. INSET: Before B2B..

Focuses on the correspondence written by Federal Reserve System founder Carter Glass housed in the Alderman Library at the University of Virginia in Charlottesville. Collections of papers and documents that form part of the historical treasure; Examples of documents included in Glass' archive entitled `Inventory of the Carter Glass Papers.'

Focuses on papers dealing with the relationship between inflation and economic activity presented at a macroeconomics workshop organized by the Federal Reserve Bank of San Francisco in California and the Stanford Institute of Economic Policy Research. Emphasis on the Phillips curve showing a plot of inflation against unemployment.

This article discusses research which looked into the decline in long-distance labor mobility in the U.S. The study titled "Understanding the Long-Run Decline in Interstate Migration," authored by Greg Kaplan and Sam Schulhofer Wohl and published in Minneapolis Fed Working Paper 697 online at minneapolisfed.org is referenced. The article also mentions that the research found that labor migration declines are due to similar labor markets around the U.S. and better information about them.

Information about the topic discussed during "The Outlook for Future Productivity Growth" which was spearheaded by the Federal Reserve Bank of San Francisco in California on November 14, 2008 is presented. It elucidates the condition of the labor productivity growth in non-agriculture business sector and cites several papers presented during the symposium tackling the issue from various researches. Moreover, the relevance of information technology to productivity growth is also cited.

Information about the papers discussed at the "Applied Microeconomics Summer Conference" hosted by the Federal Reserve Bank of San Francisco on June 25-27, 2008 in California is presented. One topic examines the effects of government programs and insights into the behavior of businesses. Another looks into the differences in consumer responses depending on whether sales taxes are clearly marked on products. Lecturers also discuss the effectiveness of the Food Stamp Program (FSP).

Information about several papers discussed at a conference held at the Federal Reserve Bank of San Francisco in California on February 22, 2008 is presented. With the theme "Monetary Policy and Asset Markets," the event dealt on five research works that address issues related to monetary policy, interest rate term structure, and housing sector developments. Academic researchers and policymakers likewise discussed the role of the asset market in the U.S. economy and financial market.

Information about several papers presented at a conference on "Recent Trends in Economic Volatility" held at the Federal Reserve Bank of San Francisco's Center for the Study of Innovation and Productivity in San Francisco, California on November 2-3, 2007 is presented. Topics discussed at the conference include the impact of new technologies towards growth rate and economic volatility as well as the volatility of the employment and unemployment rate within firms in the U.S.

Information about several papers discussed at a conference on monetary policy, transparency and credibility is presented. It is difficult for central banks to be fully transparent due to the effects of monetary policy on the economy. The decision of central banks to base their policy on their assessment of the economy plays a significant role on policy interventions intended to stabilize the economy. The implications of the lack of policy credibility for the economy is offered.

The article presents a reprint of the article "2006 Annual Pacific Basin Conference: Summary," which appeared in the February 9, 2007 issue of the "Federal Reserve Bank of San Francisco (FRBSF) Economic Letter." The article offers a summary of the papers presented at the annual conference of the Pacific Basin. Some of the topics discussed include the current account deficit in the U.S., the interest rate parity puzzle and the monetary integration in East Asia.

Information about several papers discussed at the conference titled "The Role of Money: Money and Monetary Policy in the Twenty-First Century" is presented. It is said that European Central Bank (ECB) and the Federal Reserve had to pursue their goals with notable differences. The conference also includes a broad monetary aggregate in the ECB's inflation-forecasting model to improve its accuracy.

Information about several papers discussed at the annual Pacific Basin Conference held at the Federal Reserve Bank of San Francisco on June 16-17, 2006 is presented. The conference discusses several international topics including the determining factors of the U.S. current account shortage, the interest rate parity puzzle, monetary integration in East Asia and other developments in Asia. Moreover, the conference was sponsored by the Bank's Center for Pacific Basin Studies.

The article presents a summary to the papers presented at the conference on "External Imbalances and Adjustment in the Pacific Basin" held on September 22-23, 2005 in San Francisco, California. Maurice Obstfeld and Kenneth Rogoff use in their research a small general equilibrium model to estimate the magnitude of dollar depreciation necessary to eliminate the U.S. current account deficit. Another research argued that recent dollar depreciations have generated capital gains and reduced the U.S. net debt position.

Information about several papers presented during the conference titled "Productivity Growth: Causes and Consequences," held at the Federal Reserve Bank of San Francisco, California on November 18-19, 2005. The conference discussed the causes of productivity growth which showed that the volume of knowledge grows deeper and wider over time. The study also points out the potential importance of networking as a means for the dissemination of technology.

The article presents a summary of papers presented at the symposium "Revived Bretton Woods System: A New Paradigm for Asian Development?" held at the Federal Reserve Bank of San Francisco on February 4, 2005, under the joint sponsorship of the Bank's Center for Pacific Basin Studies and the University of California at Berkeley, California's Clausen Center for International Economics. The views on the current international exchange rate system, the sustainability of global trade imbalances, and the implications for development by emerging markets, such as China were presented in the symposium by the participating executives.

Presents a summary of the papers presented at the conference on "Emerging Markets and Macroeconomic Volatility: Lessons From a Decade of Financial Debacles" held at the Federal Reserve Bank of San Francisco on June 4-5, 2004. Series of major macroeconomic crises in emerging market economies; Analysis of the causes and consequences of these volatile events; Question on how the U.S. government policies can address the problems.

Summarizes papers presented at the 'Finance and Microeconomics' conference held at the Federal Reserve Bank of San Francisco on February 28 and March 1, 2003, under the joint sponsorship of the Stanford Institute for Economic Policy Research. Dynamics of corporate earnings; Stock market reactions to Federal Reserve policy; Analysis of the yield curve and gross domestic product growth; Exchange rates and fundamentals.