Cleveland Federal Reserve Research Papers

  • A Look Behind the Numbers


    These reports offer an accessible, quantitative look at issues affecting community and economic development through in-depth analysis of current data. Read More

  • Annual Reports


    View the Annual Reports of the Federal Reserve Bank of Cleveland. Read More

  • Community Development Briefs


    These briefs provide a snapshot of what’s happening—in housing, in workforce development, etc.—in communities across our District, based on careful analysis of current data. Read More

  • Economic Commentary


    Economic Commentaries provide deeper analysis of relevant economic issues. Read More

  • Forefront


    Forefront, the Federal Reserve Bank of Cleveland’s showcase of policy ideas, is devoted to critical economic, community development, and banking issues facing the Fourth Federal Reserve District and the nation. Read More

  • Issues and Insights


    These reports summarize the foremost concerns both current and emerging among respondents of our Fourth District Community Issues survey. Read More

  • Metro Mix


    Metro Mix provides snapshots of economic conditions and prospects for MSAs in the Fourth District. Read More

  • Notes from the Field


    Community Development’s Notes from the Field Read More

  • Special Reports


    Publications produced by the Cleveland Fed and partnering organizations that explore community development issues in greater depth. Read More

  • Working Papers


    Working papers are preliminary versions of technical papers containing the results and discussions of current research. Written for eventual publication in professional economics journals. Read More

  • Publications (discontinued)


    Past editions of publications no longer published by the Federal Reserve bank of Cleveland. Read More

  • Loretta J. Mester
    President
    Federal Reserve Bank of Cleveland

    Loretta J. Mester took office on June 1, 2014, as the eleventh president and chief executive officer of the Fourth District Federal Reserve Bank, at Cleveland. In 2018, she serves as a voting member of the Federal Open Market Committee.

    Dr. Mester was born in Baltimore, MD. She graduated summa cum laude with a bachelor of arts degree in mathematics and economics from Barnard College of Columbia University. She earned M.A. and Ph.D. degrees in economics from Princeton University, where she was a National Science Foundation Fellow.

    Prior to being named president and chief executive officer of the Federal Reserve Bank of Cleveland, Dr. Mester had been executive vice president and director of research at the Federal Reserve Bank of Philadelphia, where she was the chief policy advisor and oversaw the economists and analysts in the Research Department, as well as professionals in the Financial Statistics Department and the Payment Cards Center. She joined the Federal Reserve Bank of Philadelphia in 1985, becoming senior vice president and director of research in 2000.

    Dr. Mester is an adjunct professor of finance at the Wharton School of the University of Pennsylvania and is a fellow at the Wharton Financial Institutions Center. She has also taught in the undergraduate finance and M.B.A. programs at Wharton and in the Ph.D. program in finance at New York University.

    Her areas of research expertise include the organizational structure and productive efficiency of financial institutions, financial intermediation and regulation, agency problems in credit markets, credit card pricing, central bank governance, and inflation. She has published numerous articles on a variety of topics including economics, central banking, and financial issues. In addition, she is managing editor of the International Journal of Central Banking and co-editor of the Journal of Financial Services Research; and she is an associate editor of several other academic journals.

    Dr. Mester is a director of the Greater Cleveland Partnership, a trustee of the Cleveland Clinic, a trustee of the Musical Arts Association (Cleveland Orchestra), a director of the Council for Economic Education, a founding director of the Financial Intermediation Research Society, and a member of the advisory board of the Financial Intermediation Network of European Studies (FINEST). She is a member of the American Economic Association, the American Finance Association, the Econometric Society, and the Financial Management Association International.

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