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Author:Graboyes, Robert F. 

Journal Article
Security (not guns) and butter

Cross Sections , Issue Jan , Pages 6-8

Working Paper
Wicksell's monetary framework and dynamic stability

Traditionally, central banks seeking to stabilize general prices have followed policies similar to those advocated by Knut Wicksell: when prices are higher that desired, raise interest rates to exert downward pressure on prices, and conversely. Despite the historical predominance of interest rate-based monetary policies, analysts frequently focus on how prices are affected by control of the money stock (or its high-powered base). In those cases where they do examine the relationship between interest rates and prices, they mostly do so in a Keynesian framework rather than a Wicksellian one. ...
Working Paper , Paper 90-07

Journal Article
Fifth District economic developments in 1992

Cross Sections , Issue Jun , Pages 1-5

Journal Article
Health care: rising costs and public policy

Cross Sections , Issue Spr , Pages 1-3

Journal Article
International trade and payments data: an introduction

Global trade and payments data, although absolutely essential to an understanding of the pattern and direction of world commerce, are not completely unambiguous. Compilers of such data face numerous problems of definition and measurement of particular components of nations aggregate external accounts.
Economic Review , Volume 77 , Issue Sep , Pages 20-31

Journal Article
The EMU: forerunners and durability

The first article examines the history and theory of monetary unions to ask what factors will foster a stable European Monetary Union. It concludes that a decentralized arrangement of national central banks may undermine the EMUs durability.
Economic Review , Volume 76 , Issue Jul , Pages 8-17

Journal Article
State and local government spending: measurement and interpretation

Cross Sections , Issue Fall , Pages 4-6

Journal Article
A Yankee recipe for a Eurofed omelet

The second article, reprinted from the Wall Street Journal/Europe, suggests a compromise between a centralized and decentralized structure for the union.
Economic Review , Volume 76 , Issue Jul , Pages 18-19

Working Paper
Our money or your life : indemnities vs. deductibles in health insurance

When the value of a medical treatment differs across individuals, it may be socially beneficial to treat some, but not all, patients. If individuals are ignorant of their health status ex ante, they should be willing to purchase insurance fully covering treatments for high-benefit patients (Hs) and denying treatment for low-benefit patients (Ls). But if prognoses are observable but not verifiable, insurers may have trouble denying care to Ls. Deductibles force Ls to reveal their status by imposing a marginal cost on treatment, but at a price of incomplete risk-sharing. Lump-sum indemnities ...
Working Paper , Paper 00-04

Journal Article
State revenues fall short: problems may be long-term

Cross Sections , Volume 8 , Issue Sum , Pages 1-3

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