Search Results
Journal Article
Unemployment and the role of monetary policy
On balance, the figure suggests that structural unemployment during economic downturns has increased since 1991.
Journal Article
Japan reenters the foreign exchange market
From 1999 to 2004 Japan unilaterally sold a combined, and unprecedented, 500 billion dollars of yen.
Journal Article
Capital controls by any other name
The embrace of ad hoc capital controls to address temporary market inefficiencies on a case-by-case basis, while pragmatic, perpetuates the view that each capital crisis is an isolated example of failed financial institutions.
Journal Article
The great Chinese housing boom
Significant store-of-value demand for housing suggests a bubble that could burst, especially when both the household income growth rate and the savings rate start to decline and capital controls in China start to relax.
Journal Article
Low inflation in a world of securitization
Weak lending may still be the culprit behind low inflation, but monetary aggregates may no longer closely track credit conditions.
Journal Article
Coming to America: covered bonds?
Ultimately, covered bonds and ABS are complements, not substitutes.
Journal Article
Food prices and inflation in emerging markets
The experience of the past decade illustrates the sensitivity of inflation in emerging markets to rapidly rising food prices.
Journal Article
Monetary policy and asset prices
The housing market crisis is the latest reminder that asset prices can and do run wild at rates capable of negative effects on real economic activity. Not surprisingly, this has reinvigorated debate over whether central banks should respond to asset price bubbles.
Newsletter
Exploiting exportation: why foreign exchange rates matter
The emphasis on global economics is here to stay, but how does it affect the average citizen? The April 2010 Newsletter examines the links between foreign exchange rates and global trade and explains the effect on U.S. prices and import/export trading.
Journal Article
Why health care matters and the current debt does not
All of the attention given to raising the debt ceiling this past summer might lead some to believe that spending by the federal government only recently became unsustainable. Hardly. We've been on this path a long time.