Journal Article
Low inflation in a world of securitization
Wen, Yi; Fawley, Brett W. (2013)
Weak lending may still be the culprit behind low inflation, but monetary aggregates may no longer closely track credit conditions.
Economic Synopses

Journal Article
Capital controls by any other name
Juvenal, Luciana; Fawley, Brett W. (2011)
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.
Economic Synopses

Journal Article
Commodity price gains: speculation vs. fundamentals
Juvenal, Luciana; Fawley, Brett W. (2011-07)
Commodities of all sorts have risen in price over the past few years. Some say that the prices reflect a bubble, driven by low interest rates and excessive speculation. Others say the price gains can be fully explained by supply and demand.
The Regional Economist , Issue July , Pages 4-9

Working Paper
Capital flows and Japanese asset volatility
Neely, Christopher J.; Fawley, Brett W. (2011)
Characterizing asset price volatility is an important goal for financial economists. The literature has shown that variables that proxy for the information arrival process can help explain and/or forecast volatility. Unfortunately, however, obtaining good measures of volume and/or order flow is expensive or difficult in decentralized markets such as foreign exchange. We investigate the extent that Japanese capital flows?which are released weekly?reflect information arrival that improves foreign exchange and equity volatility forecasts. We find that capital flows can help explain transitory ...
Working Papers , Paper 2011-034

Journal Article
Quantitative easing: lessons we've learned
Juvenal, Luciana; Fawley, Brett W. (2012-07)
The Regional Economist , Issue Jul

Journal Article
Japan reenters the foreign exchange market
Juvenal, Luciana; Fawley, Brett W. (2010)
From 1999 to 2004 Japan unilaterally sold a combined, and unprecedented, 500 billion dollars of yen.
Economic Synopses

Journal Article
Why health care matters and the current debt does not
Juvenal, Luciana; Fawley, Brett W. (2011-10)
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.
The Regional Economist , Issue Oct , Pages 4-5

Journal Article
Monetary policy and asset prices
Juvenal, Luciana; Fawley, Brett W. (2010)
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.
Economic Synopses

Journal Article
The evolution of Federal Reserve policy and the impact of monetary policy surprises on asset prices
Fawley, Brett W.; Neely, Christopher J. (2014)
This article describes the joint evolution of Federal Reserve policy and the study of the impact of monetary policy surprises on high-frequency asset prices. Since the 1970s, the Federal Open Market Committee has clarified its objectives and modified its procedures to become more transparent and predictable. Researchers have had to account for these changes to procedures and perceived objectives in developing methods to study the effects of monetary surprises. Unexpected changes to the Committee?s federal funds target and postmeeting statements strongly and consistently affect asset prices, ...
Review , Volume 96 , Issue 1 , Pages 73-109

Newsletter
Exploiting exportation: why foreign exchange rates matter
Fawley, Brett W. (2010-04)
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.
Liber8 Economic Information Newsletter , Issue April