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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
Issues in the 1983 auto-sales outlook
An analysis of the changing auto market and of factors affecting sales ( such as consumer income, costs, sticker shock, and affordability), plus a discussion of expectations of 1983 sales.
Journal Article
Unemployment insurance: an old lesson for the new federalism?
An examination of America's unemployment insurance system, covering its origin and financing, its solvency problems, and the potential effects of the Omnibus Budget Reconciliation Act of 1981 as an example of what might be expected from defederalizing government programs.
Journal Article
Fear and loathing of central banks in America
The Federal Reserve System is America?s uneasy compromise between our dislike of concentrated financial power and our desire to promote efficiency in our national payments system. In fact, the Federal Reserve is the nation?s third attempt to establish a large national bank?what we now call a central bank?that is in a unique position to influence a nation?s money and credit. This Commentary retells the story of the rise and fall of the two earlier national banks, the Banks of the United States.
Journal Article
On the origin and evolution of the word inflation
A historical look at the origin and uses of the word inflation, arguing that although the term has become nearly synonymous with "price increase," its original meaning--a rise in the general price level caused by an imbalance between the quantity of money and trade needs--is the definition driving many of those who advocate an anti-inflation policy for the Federal Reserve.
Journal Article
American automobile manufacturing: it's turning Japanese
A discussion of the movement of Japanese auto production facilities to the United States, with emphasis on conditions in the Fourth Federal Reserve District and on growth of the just-in-time inventory supply process.
Journal Article
The costs of a protectionist cure
A discussion of the price and quantity effects on the U.S. consumer of the Japanese auto industry's voluntary export restraint program.
Journal Article
Realignment in the U.S. motor vehicle industry
A review of the developments that have led to chronic excess capacity in the U.S. motor vehicle industry, and a consideration of the prospects facing this industry in the decade ahead.
Journal Article
Foreign capital inflows: another Trojan horse?
An analysis of the role of foreign investment in U.S. resource allocation, finding that the large influx of foreign capital in the 1980s has been used predominantly to fund domestic investment and consumer investment spending.
Journal Article
Views from the Ohio manufacturing index
An introduction to the experimental Ohio Manufacturing Index and a brief examination of the recent patterns of manufacturing growth occurring in the state.