[...]There are, of course, more traditional sources of privatesectorcapital for these markets. First among them is theCommunity Reinvestment Act. As we heard earlier, and asmany of us know firsthand, the act has had a dramatic effect interms of directing private-sector resources into urban...

This paper was presented at the conference "Policies to Promote Affordable Housing," cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy, February 7, 2002. It was part of Session 5: Remarks on the Future of Housing Policy.

This paper links new firm survival with growth, with a focus on the patterns in firms' growth paths. We theorise a Gambler's Ruin framework by arguing that new rm performance is best modelled as a random walk process, but that survival is nonrandom and depends primarily on the stock of...

Monetary policymakers and long-term investors would benefit greatly from a measure of underlying inflation that uses all relevant information, is available in real time, and forecasts inflation better than traditional underlying inflation measures such as core inflation measures. This paper...

The Federal Reserve's monetary policy in 1989 will likely focus on countering emerging inflationary pressures. As these pressures are contained, the good economic performance shown by the economy in recent years is likely to continue.

This paper investigates whether new venture performance becomes easier to predict as the venture ages: does the fog lift? To address this question we primarily draw upon a theoretical framework, initially formulated in a managerial context by Levinthal (1991) that sees new venture sales as a...