The Economic Review is a quarterly research publication with articles by Kansas City Fed staff on macroeconomics and monetary policy, regional and international economics, banking, financial markets, and payments systems.
Payments System Research staff produces a series of working papers that cover a range of topics, including types of payments methods, developments in payments networks, and various participants' roles in the payments system.
Regional research staff produces a series of working papers presenting results of the department's analysis of local economic developments for our Reserve Bank's monetary policy deliberations.
The proceedings include papers, commentary and discussion from the Kansas City Fed's annual symposium. Participants include central bankers, finance ministers, academics and financial market participants from around the globe. They discuss economic issues, implications and policy options.
The proceedings include papers, commentary and discussion from the Kansas City's Fed's biennial payments policy conference. The conference brings together industry participants, policymakers and academics for an in-depth look at developments in retail payment systems, domestic and international, and a discussion of implications and policy options.
A low supply of housing may explain the gap. The Census Bureau defines a household as an occupied housing unit; household formation thus depends on the availability of apartments and houses to move into. Potential renters have faced the lowest vacancy rates on existing apartments and houses in many years (Chart 2). And while construction of new apartments has boomed over the past few years, it has centered disproportionately on luxury units too expensive for most young adults. Meanwhile, construction of new houses as a share of U.S. households is near its lowest level since at least 1957, the earliest date for which data are available (Chart 3).
A related consequence of this supply shortfall is that spending on housing services—in other words, the estimated rent of all occupied homes—has been one of the slowest growing components of personal consumption over the past few years. Its average growth rate during 2015 and 2016 was 1.5 percent, approximately half the growth rate of consumption of all other goods and services.
Payments System Research staff produces a briefings cover payments methods, developments in payments networks, and various participants' roles in the payments system.
Nonbanks in the Payments System
This book examines nonbank participation of payments activities and the roles nonbanks play in specific transaction types.