Journal Article
Historical U.S. money growth, inflation, and inflation credibility
Dewald, William G. (1998-11)
In this article, William G. Dewald, the retiring Research director at the Federal Reserve Bank of St. Louis, focuses on the longer-term monetary relationships in historical data. He uses charts of 10-year average growth rates in the M2 monetary aggregate, nominal GDP, real GDP, and inflation to show that there is a consistent longer-term correlation between M2 growth, nominal GDP growth, and inflation - but, not between such nominal variables and real GDP growth. The data reveal extremely long cycles in monetary growth and inflation, the most recent of which was the strong upward trend in M2 ...
Review , Issue Nov , Pages 13-24

Working Paper
The effects of disinflationary policies on monetary velocity
Dewald, William G.; Gavin, William T. (1989)
A study of the effect of disinflation policies on monetary velocity, which shows a systematic relation between unexpected changes in the money-income relationship and changes in the trends of inflation rates, and which concludes that the failure to commit to a stable price policy tends to destabilize the economy.
Working Papers (Old Series) , Paper 8901

Journal Article
CBO and OMB projections, adjusted for inflation, show federal budget deficit under control
Dewald, William G. (1985-11)
Federal budget deficits continue to dominate discussions of the short-term economic future of the United States. This article by William G. Dewald stands in stark contrast to the aura of pessimism that pervades most such discussions. Dewalds optimism derives from the inflation adjustment factors he applies to the CBO and OMB deficit projections based on the 1986 Congressional Budget Resolution. He insists that pessimism about deficits stems from a tendency to focus on nominal rather than real (i.e., inflation-adjusted) deficits. Inflation mitigates the burden of a given nominal deficit in two ...
Economic Review , Volume 71 , Issue Nov , Pages 15-22

Journal Article
Fast vs. gradual policies for controlling inflation
Dewald, William G. (1980-01)
Economic Review , Volume 65 , Issue Jan , Pages 16-25

Journal Article
Did you know that the Fed holds TIPS?
Dewald, William G. (1998-07)
Monetary Trends , Issue Jul

Working Paper
Replication and scientific standards in economics a decade later: the impact of JMCB project
Dewald, William G.; Anderson, Richard G. (1994)
Scientific inquiry embodies skepticism. Researchers are trained to scrutinize every result, doubting not only the truth but also the tests of every hypothesis. Research papers in professional journals typically present only summaries of results, however, providing neither the programs nor data that a reader requires fully understanding -- and questioning -- the authors' tests. The Journal of Money, Credit, and Banking project a decade ago was the first attempt by the editor of a major journal to furnish readers with the data and programs used by the journal's authors. The project revealed the ...
Working Papers , Paper 1994-007

Journal Article
Real budget deficit implications of Gramm-Rudman-Hollings
Dewald, William G. (1986-03)
An abstract for this article is not available
Economic Review , Volume 72 , Issue Mar , Pages 33-34

Journal Article
Disentangling monetary and fiscal policy
Dewald, William G. (1982-01)
Economic Review , Issue Win , Pages 7-18

Journal Article
How fast could inflation be eliminated?
Dewald, William G. (1981)
FRBSF Economic Letter

Journal Article
Deficits and monetary growth
Dewald, William G. (1981)
FRBSF Economic Letter