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Author:Kareken, John H. 

Journal Article
Inflation: an extreme view

Quarterly Review , Volume 2 , Issue Win

Journal Article
Deposit insurance reform; or, deregulation is the cart, not the horse

This paper, originally published in the spring 1983 Quarterly Review, explains why flat-rate deposit insurance gives financial intermediaries an incentive to take on too much risk. It also discusses the purposes of deposit insurance and some ways reforms might serve those purposes. Three possible reforms are discussed: abolishing the insurance and requiring depository institutions to either hold safe assets or mark to market, reducing the deposit ceilings for insurance, and risk-adjusting the insurance premia. ; Originally published in Quarterly Review, Spring 1983
Quarterly Review , Volume 14 , Issue Win , Pages 3-11

Working Paper
The policy procedure of the FOMC: a critique

Working Papers , Paper 63

Report
Samuelson's consumption-loan model with country-specific fiat monies

In this paper, we examine various exchange rate regimes, paying particular attention to what difference the monetary-fiscal policy choices of governments make. The exchange rate may be market-determined or fixed, and if fixed, either cooperatively or by one government alone. Further, capital controls may or may not apply. Our most important result, quite general, we believe, is that absent capital controls the equilibrium exchange rate of the floating rate regime is indeterminate. It makes no sense to advocate floating rates and unfettered international borrowing and lending.
Staff Report , Paper 24

Journal Article
Deposit insurance reform or deregulation is the cart, not the horse

Quarterly Review , Volume 7 , Issue Spr

Journal Article
Commercial banking as a line of commerce: an appraisal

Quarterly Review , Volume 5 , Issue Win

Report
Portfolio autarky: a welfare analysis

Portfolio autarky obtains when residents of every country are prohibited from owning real assets located in other countries. Such a regime and a laissez-faire regime, both characterized by free trade in goods, are studied in a model whose resource and technology assumptions are those of the standard two-country, two- (nonreproducible) factor, two- (nonstorable) good model. But to ensure a market for assets (land), the model is peopled by overlapping generations; each two-period lived individual supplies one unit of labor only in the first period of his life. Unique equilibria are described ...
Staff Report , Paper 9

Conference Paper
Ensuring financial stability

Proceedings , Issue June , Pages 53-86

Working Paper
The Thomson-Pierce monthly model: a test for structural change

Working Papers , Paper 76

Journal Article
Deregulating commercial banks: the watchword should be caution

Quarterly Review , Volume 5 , Issue Spr / Sum

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