Federal Reserve Bank of San Francisco

Economic Research

Publications and Research Working Papers

FRBSF Economic Letters

Economic analysis and research summaries for a general audience.


Reuven Glick and Mark M. Spiegel
2014-26

A new volume, Prospects for Asia and the Global Economy, summarizes the 2013 Asia Economic Policy Conference hosted by the Federal Reserve Bank of San Francisco’s Center for Pacific Basin Studies. The conference focused on challenges faced by policymakers in advanced and emerging economies as they continue to recover from the recent global financial crisis. Issues discussed included the monetary policy spillovers from advanced economies to emerging markets, the costs and benefits of foreign reserve accumulation, and the desirability of macroprudential interventions, restrictions on cross-border capital flows, and financial regulatory reforms to reduce the likelihood of future crises.

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Economic Review

An annual summary of Department research plus in-depth policy article.

FedViews

Analysis of current economic developments and the outlook.

Michael Bauer, economist at the Federal Reserve Bank of San Francisco, states his views on the current economy and the outlook.

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SF Fed Forecast Preview

The SF Fed Forecast Preview is an advance release of the monthly SF Fed FedViews publication. Our forecasts of GDP, inflation, and unemployment will usually be released will usually be released on the second Tuesday of each month.

Western Economic Developments

Western Economic Developments is linked to via Fed in Print only.

  • Executive Summary
  • District Update
  • Nonresidential Real Estate and Construction
  • Alaska, Oregon, and Washington
  • Arizona, California, and Hawaii
  • Idaho, Nevada, and Utah

Executive Summary

  • California’s economy continued to expand at a strong pace in late 1996, and the state’s labor market tightened further.
  • Nevada, the fastest-growing state in the nation, continued to add jobs at more than a 6-1/2 percent average annual pace in recent months.

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Working Papers

Preliminary versions of economic research.


Eugenio Cerutti, Galina Hale, and Camelia Minoiu

We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures, which account for almost one third of total cross-border loan exposures, increased during the global financial. We show that banks with lower levels of capital favor syndicated over other kinds of cross-border loans, that borrower country characteristics indicate a diversification motive for syndication, and that information asymmetries between lender and borrower countries became more binding during the recent crisis.

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