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Policy Hub provides two forums that draw on the expertise of Atlanta Fed economists and researchers to address issues of broad policy interest: Macroblog and Policy Hub Papers.

Policy Hub articles that are reprints or revisions of papers published elsewhere may not be reprinted without the written permission of the original publisher. All other Policy Hub articles may be reprinted without charge. If you reprint an article, please fully credit the Federal Reserve Bank of Atlanta as well as Policy Hub. For more information, read our disclaimer and terms of use.

In December 2020, our Real Estate Research blog and Notes from the Vault column became part of Policy Hub.


Policy Hub: Macroblog

Policy Hub: Macroblog provides concise commentary and analysis on economic topics by staff economists and analysts for a broad audience.

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Policy Hub Papers

Policy Hub Papers feature more detailed analyses of economic topics by staff economists and researchers for both academic and nonacademic audiences.

Jul 14, 2022

How Many Rate Hikes Does Quantitative Tightening Equal?

When the Fed shrinks its balance sheet, what is the effect on the fed funds rate? The author of this Policy Hub article quantifies how many interest rate hikes quantitative tightening equals and compares the effect of tightening during normal times versus during financial crises.

Sep 24, 2021

The Term Structure of the Excess Bond Premium: Measures and Implications

The authors of this Policy Hub article construct a variety of ways to measure the excess bond premium (EBP). They find that the short-term EBP measure increased more dramatically at the peaks of the COVID-19 pandemic and the 2007–09 financial crisis.

Sep 09, 2021

The Phillips Curve during the Pandemic: Bringing Regional Data to Bear

This Policy Hub article examines how labor market indicators and inflation have varied together during the pandemic across different parts of the United States. Areas whose labor markets have been especially hard hit by COVID have tended to have lower inflation than areas where the pandemic has had a milder impact on the jobs market.

May 17, 2021

Money Aggregates, Debt, Pent-Up Demand, and Inflation: Evidence from WWII

Just as the government mobilized a massive economic effort during WWII, the effort to manage the COVID-19 pandemic is enormous. What parallels can be drawn between then and now? This Policy Hub article looks at some economic implications to answer this question.

Dec 22, 2020

Model Uncertainty and Policy Design

When doubts about the probability model of uncertainty exist, challenges to the design of optimal policy emerge. This Policy Hub article examines the policymaker's management of the public's pessimistic expectations and the implications of this idea.