Journal Article
Methods of cash management
Carlson, John B. (1982-04)
A description of cash management methods, covering collection, disbursement, and investment techniques. Topics include lock boxes, wire transfers, depository transfer checks, controlled disbursement, zero balancing, money-market instruments, and sweeping arrangements.
Economic Commentary , Issue Apr

Journal Article
Federal funds futures as an indicator of future monetary policy: a primer
McIntire, Jean M.; Carlson, John B.; Thomson, James B. (1995-01)
An analysis of how federal funds futures markets are efficient processors of information concerning the future path of the fed funds rate and a discussion of some related implications for central-bank policymaking.
Economic Review , Issue Q I , Pages 20-30

Journal Article
Recent behavior of velocity: alternative measures of money
Byrne, Susan M.; Carlson, John B. (1992-01)
An examination of the relationship between velocity and interest rates for two alternative measures of money, and an analysis of the effects of thrift restructuring on money demand.
Economic Review , Volume 28 , Issue Q I , Pages 2-10

Journal Article
Monetary policy and inflation: 1993 in perspective
Bauer, Gregory A.; Carlson, John B. (1994-01)
An overview of monetary policy developments in 1993, discussed in the context of the longer-term objective of price stability.
Economic Commentary , Issue Jan

Journal Article
Mutual funds, fee transparency, and competition
Carlson, John B.; Sahinoz, Erkin Y.; Pelz, Eduard A. (2004-03)
Mutual funds enable small, less experienced investors to hold diversified portfolios of stocks and bonds at relatively low costs. Though the mutual fund market is competitive in many ways, fees can vary substantially for what are essentially identical products. This may be due to bundling of services, but it may also reflect some confusion on the part of less experienced investors, which inhibits comparative shopping among funds. Suggested reforms for improved fee disclosure seek to make fees more transparent for less informed investors and should improve competitive discipline among funds.
Economic Commentary , Issue Mar

Journal Article
The demand for M2, opportunity cost, and financial change
Carlson, John B.; Parrott, Sharon E. (1991-04)
An analysis of the recent weakness in M2 growth that attempts to measure the opportunity cost of the aggregate more accurately and that explores the potential effects of the thrift industry restructuring on the adjustment of money demand to its long-run equilibrium level.
Economic Review , Volume 27 , Issue Q II , Pages 2-11

Journal Article
The dynamics of federal debt
Stevens, Edward J.; Carlson, John B. (1985-07)
An examination of the federal deficit and of the possible effects of persistently high levels of federal debt on real interest rates, private investment, and the economy's real growth.
Economic Commentary , Issue Jul

Journal Article
The short-run dynamics of long-run inflation policy
Samolyk, Katherine A.; Gavin, William T.; Carlson, John B. (1990-07)
An examination of the short- and long-term implications of an inflation policy on real output, using a method that allows structural interpretation of a simple VAR applied to a macroeconomic system that includes real output and inflation.
Economic Review , Volume 26 , Issue Q III , Pages 26-35

Journal Article
Why is the dividend yield so low?
Carlson, John B. (2001-04)
The dividend yield on stocks has dropped sharply over the last decade. Is its drop a consequence of irrational exuberance? This Commentary assesses alternative explanations for the diminished dividend yield.
Economic Commentary , Issue Apr

Working Paper
Monetary policy, endogenous inattention, and the volatility trade-off
Branch, William A.; Evans, George W.; Carlson, John B.; McGough, Bruce (2004)
This paper addresses the output-price volatility puzzle by studying the interaction of optimal monetary policy and agents' beliefs. We assume that agents choose their information acquisition rate by minimizing a loss function that depends on expected forecast errors and information costs. Endogenous inattention is a Nash equilibrium in the information processing rate. Although a decline of policy activism directly increases output volatility, it indirectly anchors expectations, which decreases output volatility. If the indirect effect dominates then the usual trade-off between output and ...
Working Papers (Old Series) , Paper 0411