RICHMOND, VA -- (Marketwired) -- 11/26/14 -- For centuries, thinkers have predicted economic and resource collapse from overpopulation. The prophecies of doom have failed to come true, however. As developing countries have become more prosperous, their fertility rates have tended to decline. Economists now say that large populations can boost the growth of an economy. The cover story in the latest issue of Econ Focus looks at these and other economic issues involved in population growth.
Also in this issue:
- Islamic banking, American regulation. Islam is the fastest-growing religion in the United States. Accordingly, Islamic banking -- financial instruments and mortgages that comply with Islamic laws and moral codes -- is a small but important part of America's financial landscape. What is Islamic banking and how does it work?
- Will the graying of American change monetary policy? Research indicates that the graying of America could affect financial markets -- and, perhaps, the power of monetary policy. Seniors tend to borrow less than the young, which works to reduce their sensitivity to interest rates, and they have other financial preferences that could change how the Fed's traditional tools influence the economy. What will happen to monetary policy in an older America?
- Birth of the bar code. With the adoption of the UPC bar code by grocery stores and manufacturers in the 1970s, the grocery industry overcame a long list of obstacles that could have stopped the effort in its tracks. Strong personalities and some lucky breaks made the rise of the bar code possible.
- Interview with Stanford University's Nicholas Bloom on measuring uncertainty and its effects, the reasons behind the rise in policy uncertainty in the United States, and the importance of good corporate management to a firm's or country's productivity.
Econ Focus is the economics magazine of the Federal Reserve Bank of Richmond. It covers economic issues affecting the Fifth Federal Reserve District (the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia) and the nation.
For a free subscription to Econ Focus or for copies of the magazine, contact the Bank's Research Publications division at (800) 322-0565 or subscribe online. The articles are available online at http://www.richmondfed.org/publications/research/econ_focus/index.cfm.
Contact:
David A. Price
Senior Editor
Econ Focus
Federal Reserve Bank of Richmond
Office: (804) 697-8018
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