Publications and Research Working Papers
Economic analysis and research summaries for a general audience.
State and local governments frequently offer tax incentives to attract businesses to locate in their area. Proponents view these incentives as a valuable tool to encourage economic development. Critics, on the other hand, argue either that incentives have little effect on business location decisions—and hence are wasteful giveaways—or that their benefits come at the expense of reduced economic activity in other areas. A key element in this debate is distinguishing what is best from a local versus a national perspective.
An annual summary of Department research plus in-depth policy article.
Analysis of current economic developments and the outlook.
Simon Kwan, senior research advisor at the Federal Reserve Bank of San Francisco, states his views on the current economy and the outlook.
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 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
- 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.
Preliminary versions of economic research.
We explore the relationship between inflation and the bond market. Bond holders are exposed to capital losses through inflation and represent a potential anti-inflationary force; we ask whether their influence is apparent using a simple theoretical model where bond issuance leads to political pressure on the government to choose a lower inflation rate. We then check empirical data before and after the introduction of a domestic bond market. Inflation-targeting countries with a bond market experience inflation approximately 3-4 percentage points lower than those without one.