Journal Article
Has the long-run velocity of M2 shifted? Evidence from the P* model
Hallman, Jeffrey J.; Anderson, Richard G. (1993-01)
An examination of one of the P-Star model's primary assumptions: the constancy of M2's long-run velocity, or V-Star. Using actual data through the end of 1992, the authors find that simulations of the model under a variety of hypotheses regarding changes in V-Star provide little support for a dramatic shift in that measure.
Economic Review , Volume 29 , Issue Q I , Pages 14-26

Working Paper
Money and velocity during financial crises: from the Great Depression to the Great Recession
Bordo, Michael D.; Anderson, Richard G.; Duca, John V. (2015-05-01)
This study models the velocity (V2) of broad money (M2) since 1929, covering swings in money [liquidity] demand from changes in uncertainty and risk premia spanning the two major financial crises of the last century: the Great Depression and Great Recession. V2 is notably affected by risk premia, financial innovation, and major banking regulations. Findings suggest that M2 provides guidance during crises and their unwinding, and that the Fed faces the challenge of not only preventing excess reserves from fueling a surge in M2, but also countering a fall in the demand for money as risk premia ...
Working Papers , Paper 1503

Journal Article
Resolving a banking crisis, the Nordic way
Anderson, Richard G. (2009)
The Nordic bank resolution is widely regarded as among the most successful in history. ; Also issued as Monetary Trends, April 2009
Economic Synopses

Journal Article
The financial services sector: boom and recession
Anderson, Richard G. (2009)
The fluctuations in home construction (and prices) have been widely discussed, but swings in the financial services sector also are important elements of economic activity within U.S. states.
Economic Synopses

Journal Article
Liquidity crises in the small and large
Jones, Barry E.; Anderson, Richard G. (2011)
Federal Reserve programs during the recent financial crisis sought to provide liquidity to individual firms or industries. An interesting additional question is whether the aggregate amount of liquidity in the economy was appropriate before and during the recent financial crisis.
Economic Synopses

Journal Article
Is more QE in sight?
Anderson, Richard G. (2010)
Most analysts have concluded that the LSAP successfully reduced long-term market interest rates. How, exactly, do LSAP-style programs succeed?
Economic Synopses

Journal Article
The root of the problems of the British banks is the same as that of American banks: shaky mortgage-backed securities
Mullineux, Andrew W.; Anderson, Richard G. (2009)
Economic Synopses

Journal Article
Monetary policy, bubbles, and goldilocks
Anderson, Richard G. (2011)
Monitoring of prices is essential lest future adjustments be misunderstood by the public as part of the dynamics of aggressive monetary policy.
Economic Synopses

Journal Article
Bankers acceptances and unconventional monetary policy: FAQs
Anderson, Richard G. (2009)
Economic Synopses

Journal Article
Bankers' acceptances: yesterday's instrument to restart today's credit markets?
Anderson, Richard G. (2009)
A bankers' acceptance is created when a bank agrees to `accept,' or guarantee, a future payment between two firms.
Economic Synopses