Other Publications

• Protect Yourself from Predatory Lenders
• You've Earned It! What the EITC Can Do for You
• The Rising Residential Concentration of Joblessness in Urban America, 1980 to 2000
• Kids & Money
• Learn Before You Leap
• Resource Guides: St. Louis, Little Rock and Memphis
• Coming Up With the Money
• Research
• Community Development Investments
• Credit Scoring
• Mortgages: Fairness for All

Protect Yourself from Predatory Lenders

Protect Yourself from Predatory Lenders explains how to identify predatory lending practices when applying for a home loan and gives an overview of the Tennessee Home Loan Protection Act. The law, which went into effect Jan. 1, 2007, is meant to protect potential home buyers from abusive mortgage lending practices. This new brochure is a publication of the Community Development Office of the Federal Reserve Bank of St. Louis. Read the brochure online or order it free of charge by calling 901-579-4101.

You've Earned It! What the Earned Income Tax Credit Can Do for You

Millions of low-income, working Americans are unaware that they are eligible for thousands of dollars in tax credits. The Federal Reserve Bank of St. Louis is trying to change that with its publication: You’ve Earned It! What the Earned Income Tax Credit Can Do for You. The booklet explains how the tax credit works and how to find out if you qualify. Eligible taxpayers can receive up to $4,500 with their income-tax refund. The typical refund in the Bank’s Eighth District has been about $2,000. The booklet is free and may be ordered by calling 314-444-8761 in St. Louis; 501-324-8296 in Little Rock, Ark.; 502-568-9202 in Louisville, Ky.; and 901-579-4101 in Memphis, Tenn. Or read You've Earned It! (PDF, 301 KB) online. Versions containing information specific to each state are also available: Arkansas Illinois Indiana Kentucky Mississippi Missouri Tennessee

The Rising Residential Concentration of Joblessness in Urban America, 1980 to 2000

Between 1980 and 2000, America’s urban neighborhoods became increasingly polarized into high- and low-unemployment areas. Fed research economist Christopher Wheeler presents his findings on this topic in The Rising Residential Concentration of Joblessness in Urban America, 1980 to 2000. Wheeler studied neighborhood-level unemployment in more than 360 U.S. cities. His report includes information on four metropolitan areas within the Eighth Federal Reserve District—Little Rock, Louisville, Memphis and St. Louis.

Kids & Money

This short-and-sweet booklet from the Federal Reserve Bank of St. Louis helps parents teach their school-age children how to manage money. It highlights three key topics (planning, budgeting and saving) and suggests fun family activities that will get kids thinking about saving—and spending responsibly. (Read Kids & Money, PDF, 216 Kb, or Los Niños y el Dinero, PDF, 211 Kb.) You can also order the booklet free of charge by calling: (314) 444-8761 in St. Louis; (501) 324-8296 in Little Rock, Ark.; (502) 568-9202 in Louisville, Ky; and (901) 579-4101 in Memphis, Tenn.

Learn Before You Leap

The Federal Reserve Bank of St. Louis' Learn Before You Leap brochures list counseling agencies that provide advice on every step of the home-buying process, from budgeting income to negotiating a contract to closing on a loan. Each of the brochures focuses on one of the Fed’s zones in the Eighth District: St. Louis (English, Español), Little Rock (English, Español), Louisville (English, Español) or Memphis (English, Español). Multiple copies can be ordered from Julie Kerr in Little Rock, (501) 324-8296; Kendra Keller in Louisville, (502) 568-9202; Cathy Martin in Memphis, (901) 579-4102; or Cindy Davis in St. Louis, (314) 444-8761.

Resource Guides

The Resource Guide Business assistance and alternative capital resources available in the St. Louis metropolitan region are listed in this booklet. Designed for owners of small businesses and microenterprises, the guide is intended to be a starting point for those opening a new business or wishing to expand an existing business.The Resource Guide is a project of the St. Louis County Economic Council, US Bank and the Federal Reserve Bank of St. Louis. The booklet is available online and can also be ordered free of charge from Cynthia Davis at the Federal Reserve, 314-444-8761.

The Resource Guide for Small Businesses: Where To Go for Money and Advice, Little Rock Area Small and micro businesses in this region will find a wealth of information in this guide about assistance available to help them achieve success. The first section, "Business Assistance Resources," lists nearly 25 pages of public and private organizations that offer advice and technical expertise, most for free. The second section, "Alternative Financial Resources," lists more than 70 nontraditional sources of funding, from venture capital groups to government agencies. Contact information is also given for the 14 chambers of commerce in the area.

The Resource Guide for Small Businesses: Where To Go for Money and Advice, Memphis and Shelby County Region Small and micro businesses in this region will find a wealth of information in this guide about assistance available to help them achieve success. The first section, "Business Assistance Resources," lists nearly 30 pages of public and private organizations that offer advice and technical expertise, most for free. The second section, "Alternative Financial Resources," lists more than 50 nontraditional sources of funding, from venture capital groups to government agencies. Contact information is also given for the dozen chambers of commerce in the area.

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Published in 2002, Community Developing Financing: Coming up with the Money explains the basics of launching a community development project. The guide is easy to use online. For a free paper copy, e-mail us.

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Research

Economic Effects of the 1918 Influenza Pandemic: Implications for a Modern-day Pandemic

In 1918, the United States experienced the most serious epidemic in its history. Millions of people were infected with the highly contagious influenza virus, and hundreds of thousands of people died. The possibility that a modern-day influenza outbreak could happen has caused researchers to look back to the 1918 pandemic as a foundational model for the likely effects of such an event on the United States. However, there has been relatively little research done on the economic effects of the pandemic. This report provides a concise discussion and analysis of the economic effects of the 1918 influenza pandemic based on available data and research.

The Rise in Personal Bankruptcy

Thomas A. Garrett, research officer and economist at the Federal Reserve Bank of St. Louis, has been studying why so many Americans file for bankruptcy. In the past 30 years, the number has gone up nearly 350 percent, and many of those filing live in states the Bank serves. The most common cause is an unexpected shock to their incomes, such as job loss, medical bills or divorce. Garrett’s report, The Rise in Personal Bankruptcy, focuses on the role other factors—such as availability of credit, bankruptcy laws and decreased consumer savings—play in making Americans even more susceptible to bankruptcy. The report includes statistical information on counties in the Federal Reserve’s Eighth District.

Neighborhood Characteristics Matter... When Businesses Look for a Location

What is it about a neighborhood that attracts businesses? Christopher Wheeler, a senior economist in the Research Division of the Federal Reserve Bank of St. Louis, studies the issue in a new report, Neighborhood Characteristics Matter... When Businesses Look for a Location (PDF 2,469 Kb). The study is one of very few that looks at the data from a neighborhood level. Wheeler looks at ZIP codes across the country and then focuses on the St. Louis Fed’s District, with data from St. Louis, Little Rock, Louisville and Memphis.

The Impact of Local Predatory Laws on the Flow of Subprime Credit

Starting in 1999 with North Carolina, 24 states and other local governments have enacted laws to curb predatory lending in the subprime mortgage market. How do these laws affect the flow of subprime credit in those areas? A new report from Anthony Pennington-Cross, a research economist with the Federal Reserve Bank of St. Louis, suggests that the typical law has little impact, as measured by loan origination and application. Read the study. (PDF 760 Kb)

Passive Policies for Entrepreneurs

A study by St. Louis Fed economists Thomas A. Garrett and Howard J. Wall finds that the absence of government intervention creates a better climate for entrepreneurship. Although policy-makers often pursue active policies when recruiting businesses, such as targeted tax breaks or other incentives, more passive policies lower the general cost of running or starting a business and increase rates of entrepreneurship. Read the study. (PDF 1,480 Kb)

Employment Growth in America: Exploring Where Good Jobs Grow

High-paying or “good” jobs not only benefit employees, but entire communities. Employers offering high-paying jobs tend to locate their businesses in certain types of communities. Christopher H. Wheeler, a senior economist at the Fed, studied what promotes the growth of good jobs. Read the report. (PDF 1,764 Kb)

Light-Rail Transit in America: Policy Issues and Prospects for Economic Development

Over the past several decades, cities across America have constructed light-rail systems as a means of reducing traffic congestion and promoting economic development. In this research report, Fed senior economist Tom Garrett discusses whether light rail has lived up to these expectations.

Casino Gambling in America and Its Economic Impacts

Will a casino be a boon or bust for your community? In a research study by Fed senior economist Tom Garrett, he explores the effects of casino gambling on local employment, tax revenue and retail business. Read the study.

David Ciscel, a professor of economics at the University of Memphis, prepared two major reports in 1999 and 2000 for the Community Affairs Office of the Federal Reserve Bank of St. Louis that are related to the economy of Memphis and the Delta region. They are:

• "A Macro Overview of the Regional Economy: (PDF 1.02 MB) Structure and Performance of Selected Urban and Rural Counties in the Memphis Zone of the Federal Reserve Bank of St. Louis" and
  
• "Urban Sprawl, Urban Promise: (PDF 1.31 MB) A Case Study of Memphis, Tennessee"

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Community Development Investments

This 2002 directory from the Federal Reserve Board consists of profiles of community development corporations and related entities in which bank holding companies and state-chartered banks have invested.

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Credit Scoring

The Federal Reserve System's Mortgage Credit Partnership Credit Scoring Committee has produced a series on this increasingly popular underwriting tool. The series was published in installments in 2001 and 2002 by the St. Louis Fed as a project of the Federal Reserve Bank of Boston, Chicago, Cleveland, San Francisco and St. Louis, as well as the Board of Governors.

The series examines many of the controversial elements of credit scoring. Each part is available as a separate PDF.

• Introduction (PDF 552KB)
  
• Part 1 – Credit Scoring Overview (PDF 1.09MB)
  
• Part 2 – Credit Scoring Model Development and Maintenance (PDF 232KB)
  
• Part 3 – Third-Party Brokers (PDF 506KB)
  
• Part 3 – Supplement (PDF 400KB)
  
• Part 4 – Staff Training, Loan Pricing and Data Accuracy (PDF 535KB)
  
• Part 5 – Overrides and Second-Review Process (PDF 816KB)

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Mortgages: Fairness for All

The Mortgage Credit Partnership Project (PDF 92.6KB) was begun in 1996 by the St. Louis Fed and The Institute for Policy Leadership at the University of Missouri-St. Louis with the goal of examining minority access to home ownership in the region. Various task forces spent six months focusing on four areas: insurance, lending and appraisal, real estate, and the secondary market. Their report spotlights problems and recommends solutions. Similar reports were developed in other cities across the country, leading to The Mortgage Credit Partnership Resource Guide (PDF 7.4MB). This manual documents the MCP process and offers a "how-to" approach to implementing such a project.

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