Search Results
Journal Article
The influence of monetary policy on commercial banking
Journal Article
Statement to Congress, February 6, 1990 (price stability)
Journal Article
Defending zero inflation: all for naught
Economists and policymakers disagree on the lengths central banks should go in pursuit of price stability and, in fact, on exactly what price stability means. This essay advocates that central banks try to maintain stable price levels in their countries, and it argues that the benefits of achieving this objective are worth the transition costs. The essay reviews some of the relevant academic literature on the economic effects of inflation and specifically addresses the issues of transition cost, fiscal dominance, and credibility.
Journal Article
Should the Fed sell its services?
Journal Article
Views on monetary policy
Conference Paper
Regulatory reform, banks, and payment system developments
Monograph
Inflation: gainers and losers
Originally appeared in the Federal Reserve Bank of Philadelphia Business Review, February 1970, p. 23-30
Journal Article
International policy coordination: can we afford it?
A proposition that detailed global coordination of macroeconomic policies could have negative effects on real economic growth and efficiency, and that the integrity of private markets would be better assured through the maintenance of long-term nominal policy targets.
Journal Article
International developments and monetary policy
A discussion of the problems associated with redressing global trade imbalances and why a monetary policy committed to international price stability is necessary in order to reform our international accounts and foster a healthy economic environment.
Journal Article
Some observations on central bank accountability
An analysis of the institutional design of the Federal Reserve System, stating that the central bank should be given a clear legislative mandate to achieve price-level stability and financial market efficiency, along with the independence and accountability necessary to realize these goals.