Economic Perspectives

The Expansion of High School Choice in Chicago Public Schools

Study on expansion of choice in Chicago public schools finds racial segregation has not changed significantly but students are more likely to attend a school with peers who have similar incoming test scores, especially students from lower-income neighborhoods.

Minority-Owned Banks and Their Primary Local Market Areas

Maude Toussaint-Comeau and Robin Newberger

Minority-owned banks failed at relatively high rates during the financial crisis. More recently, there is evidence of expansion in the sector’s number of branches and extension into new markets, although challenges related to funding and capital remain.

The Event-Study Activity Puzzle

Jeffrey R. Campbell, Jonas D. M. Fisher, Alejandro Justiniano, and Leonardo Melosi

If news of higher future interest rates reflects a shift in the stance of monetary policy, then we expect it to lower projections for real GDP growth and raise projections for unemployment. However, the data point to quite different conclusions.

Understanding Global Trends in Long-run Real Interest Rates

Kei-Mu Yi and Jing Zhang

The authors explore trends in long-run real interest rates and their underlying factors for the 20 largest economies from the 1950s through the present day.