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Journal Article
Effective supervision and the evolving financial services industry
Technology, market consolidation, international competition, and new legislation are changing the face of the financial services industry. How are the agencies responsible for ensuring the safety and soundness of our financial system responding? This Commentary is adapted from a keynote address given by Jerry L. Jordan, president and chief executive officer of the Federal Reserve Bank of Cleveland, at the 111th Annual Meeting of the Ohio Bankers association in May 2001.
Working Paper
The market for deposit-type financial assets
Dissertation
Journal Article
Jobs creation and government policy
An argument by Federal Reserve Bank of Cleveland President Jerry Jordan that the proper focal point of public policy is not creating jobs but creating wealth, thus allowing for the highest standard of living.
Journal Article
Riding the S-curve: thriving in a technological revolution
The present information technology revolution offers a great opportunity to take a leap forward in our collective prosperity. All of us stand to benefit. But some will take to the revolution more easily than others, a lesson that policymakers have learned from previous experience. This Economic Commentary is adapted from a speech that Jerry L. Jordan, president and CEO of the Federal Reserve Bank of Cleveland, gave to the Ohio Aerospace Institute on October 12, 2000.
Journal Article
Not as easy as it looks: regulating effective corporate governance
Accounting scandals, executive misconduct, and poor management at once-prosperous corporations have shaken investor confidence in corporate integrity, and worse, in the mechanisms that are supposed to ensure good corporate management. What will it take to restore confidence? This Commentary suggests that the markets will respond with innovations and adjustments that lead to better management, accounting, and disclosure. Greater government policing has an important, but limited, role to play.
Journal Article
Skepticism about the direction of inflation: causes, costs and cures
A discussion of Americans' skepticism about the government's ability to keep inflation in check, emphasizing the real economic costs of this attitude entails and the ways in which Congress, the Federal Reserve, and the White House can help.
Journal Article
Specialization in risk management
A discussion of the rapidly increasing use of derivative financial instruments, contending that these contracts represent innovations in risk management, not in risk itself, and will lead to enhanced wealth and more efficient risk management without the need for special regulation or legislation to address their perceived risks.
Journal Article
Credibility begins with a clear commitment to price stability
An argument that the central bank should adopt a policy of price stability based on an explicit objective for the Consumer Price Index, which the Cleveland Fed President believes would provide a nominal anchor for the dollar as well as a clear standard by which to measure the success of monetary policy.