Economic Insights Second Quarter 2020

by Federal Reserve Bank of Philadelphia Research Department

Economic Insights is a quarterly publication from the Research Department of the Federal Reserve Bank of Philadelphia with a print distribution of 1100 and .pdfs made freely available to non-subscribers on the Bank's website. Economists and research analysts write non-technical articles about monetary policy, banking, and national, regional, and international economics intended for a wide audience.

Our 2020 second quarter issue used its cover to explain how tariffs work through a simplified diagram that we explained on the inside front cover. This issue started with an article about the Los Angeles metro system. The article examined the importance of mobility and then the costs and benefits of transit systems by analysing the first development phase of Los Angeles Metro Rail. In our second article, the author discussed the concept of central bank digital currency (CBDC) and how it could change the way people spend and how financial firms operate. It concluded with a look at CBDC's costs and benefits for society. The final article examined the evidence behind two ideas that explain the house price booms of the 2000s. The author then investigated whether recent house price increases risk another house price bust. At the end of the issue we introduced our second new feature for the year, a brief interview with one of the author's from the issue. Our second new feature for the year, Data in Focus, highlighted GDPplus, a measure that complements the familiar indicators of gross domestic product (GDP) and gross domestic income (GDI).

Prize

Bronze in Magazine & Newspaper Design 2021, Freelancer

Created by:

Designer

Brendan Barry

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Client

Federal Reserve Bank of Philadelphia Research Department