Search Results
Journal Article
Will taxing imports help?
An examination of the possible impact on U.S. consumers and producers of placing an across-the-board tariff surcharge on imported goods.
Journal Article
Who is that guy on the $10 bill?
Alexander Hamilton is the least known and most misunderstood of our nation's founders. His contributions include creating a monetary standard, establishing our banking system, and ensuring the young nation's creditworthiness. This Economic Commentary explains how much of our financial strength we owe to Hamilton.
Report
Rethinking the measurement of household inflation expectations: preliminary findings
This paper reports preliminary findings from a Federal Reserve Bank of New York research program aimed at improving survey measures of inflation expectations. We find that seemingly small differences in how inflation is referred to in a survey can lead respondents to consider significantly different price concepts. For near-term inflation, the "prices in general" question in the monthly Reuters/University of Michigan Surveys of Consumers can elicit responses that focus on the most visible prices, such as gasoline or food. Questions on the "rate of inflation" can lead to responses on the ...
Journal Article
The emerging service economy
A description and examination of the expanding service economy, with the contention that its growth reflects a natural and inevitable response to rising wealth.
Working Paper
Monitoring core inflation
An analysis of the use of limited-information estimators as measures of core inflation, showing that these estimators, such as the median of the cross-sectional distribution of inflation, have a higher correlation with past money growth and deliver improved forecasts of future inflation relative to the Consumer Price Index.
Journal Article
Inflation and growth: working more vs. working better
An examination of how inflation reduces economic welfare by causing people to work harder.
Journal Article
Voluntary export restraints: the cost of building walls
An illustration of the cost and employment effects of Japanese voluntary export restraints on new-car imports to the U.S.
Journal Article
Median price changes: an alternative approach to measuring current monetary inflation
An analysis concluding that inflation measures based on median price changes are a better indicator than measures based on mean price changes.
Journal Article
The business cycle, investment and a wayward M2: a midyear review
A summary of the June 12, 1992 meeting of the Fourth District Economists' Roundtable, at which 22 panelists concurred that steady and moderate growth in the economy can be expected through late 1993; includes discussions on business fixed investment, monetary growth, and business cycle theory.
Journal Article
Midyear report of the Fourth District Economists' Roundtable
A summation of the May 20, 1994 meeting of the Fourth District Economists' Roundtable, at which participants offered their views on the current and prospective state of the economy and discussed the limitations of describing the U.S. business cycle.