SOURCE: Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond

August 14, 2015 17:25 ET

Richmond Fed Magazine Econ Focus Highlights the Economics of Secession

RICHMOND, VA--(Marketwired - Aug 14, 2015) - Although Scottish voters opted not to separate from the United Kingdom in a referendum last year, the issue of secession remains alive -- not only in Scotland, but in Spain's Catalonia region and elsewhere. Controversies over independence versus unity are not new: The United States itself is a product of secession from Great Britain. The cover article in the new issue of Econ Focus magazine looks at the economic considerations that are often at play when regions seek to separate from their nations.

Also in this issue:

  • Is marriage on the outs? Many policymakers are concerned that the "retreat from marriage" in recent decades is concentrated among those with less education, and research suggests the children of affluent, college-educated parents are more likely to be affluent and educated themselves. To what extent does marriage affect the well-being of American families?
  • Jekyll Island and the start of the Federal Reserve. In the fall of 1910, a small group of prominent politicians and bankers held a secret meeting on Jekyll Island, off the coast of Georgia. After 10 long days, they emerged with a plan for a new U.S. central bank -- the starting point of the Federal Reserve.
  • Looking back at GSE reform. Today, many call for an overhaul of mortgage giants Fannie Mae and Freddie Mac. Lessons may remain from the last time Congress undertook GSE reform in the early 1990s.
  • Interview with Campbell Harvey of Duke University on bitcoin, the risk tolerance of CEOs, and the differences for financial economists between working in the private sector and academia.

Econ Focus is the economics magazine of the Federal Reserve Bank of Richmond. It covers economic issues affecting the Fifth Federal Reserve District and the nation.

For a free subscription to Econ Focus or for copies of the magazine, call (800) 322-0565 or subscribe online. The articles also are available online.

Contact Information

  • Contact:
    David A. Price
    Senior Editor
    Econ Focus
    Federal Reserve Bank of Richmond
    Office: (804) 697-8018
    Email Contact