We produce a wide range of publications that share the latest data, analysis, and insights from various teams at the SF Fed. Our publications help inform and strengthen public understanding of economic issues and its impact on people and communities.
Economic Research Publications
FRBSF Economic Letter >
Economic analysis for general
audiences
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Bank Regulation Affects Monetary Policy Transmission
How does monetary policy impact banks’ lending behavior when interest rate changes revalue their securities? Detailed supervisory data show that banks with larger losses on securities during the 2022–23 monetary policy tightening cycle extended less credit to firms. This spillover effect was especially strong for securities that were marked to market and not hedged, and…
SF FedViews >
Analysis of current economic developments and the outlook
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SF FedViews: AI and Energy Shaping the Outlook for Growth and Inflation
Sylvain Leduc, executive vice president and director of research at the Federal Reserve Bank of San Francisco, shared views on the current economy and the outlook from the Economic Research Department as of October 15, 2026.
Working Papers >
The latest in economic research
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The Impacts of Unauthorized Immigration on U.S. Labor and Housing Markets: New Evidence from Administrative Microdata
From early 2021 through early 2024, the U.S. experienced an unprecedented boom in unauthorized immigration, with substantial heterogeneity across local economies. Using administrative microdata, we construct new measures of national and local unauthorized immigration flows and exploit exogenous variation using multiple empirical designs. Unauthorized immigrant worker flows increased local employment approximately one-for-one, with mixed evidence…
Community Engagement and Analysis Publications
Community Development Articles>
Short-form insights on key community development topics, informed by research and engagement in the 12th District.
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The Opportunity for Alignment: OZ Investments and the Community Reinvestment Act
This article examines the geographic and policy overlap between Opportunity Zones and the Community Reinvestment Act, highlighting how dual eligibility in nearly 19,000 census tracts nationwide could unlock new pathways for banks and investors to support community development.
Community Development Research Briefs >
Research briefs feature data and commentary on community development trends and issues.
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AI Adoption Among Small Businesses: Qualitative Insights from the Small Business Credit Survey
Nearly 40% of small business respondents to the 2024 SBCS reported using or planning to use artificial intelligence (AI), with applications spanning productivity, marketing, writing, visual design, customer service, analytics, and programmable machines. The brief documents use cases, barriers, and sentiments—from enthusiasm to opposition.
Community Development Working Papers >
Working papers provide in-depth analysis of emerging community development issues from practitioners and scholars.
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Housing Market Interventions and Residential Mobility in the San Francisco Bay Area
Limited evaluation research exists on which housing solutions are most effective in stabilizing communities so that those who wish to stay are able to do so in the midst of an influx of newcomers. This study seeks to fill this gap by assessing patterns of individual and household mobility related to specific housing interventions in…