Search Results
Journal Article
Interview with Joseph E. Stiglitz
When Joseph Stiglitz was named to the president's Council of Economic Advisers in 1993, one pundit named the group "the dream team of economics," and another writer later dubbed him the council's "idea man."
Journal Article
Banking instability and regulation in the U.S. free banking era
Journal Article
Bank regulation: strengthening Friedman's case for reform
Report
The Free Banking Era: new evidence on laissez-faire banking
The purpose of this paper is to begin a reevaluation of the Free Banking Era by developing and examining individual bank information on the population of banks which existed under the free banking laws in four states. This information allows us to determine the number of free banks which failed and to estimate the resulting losses to their note holders. While the new evidence suggests there were problems with free banking, it presents a serious challenge to the prevailing view that free banking led to financial chaos.
Report
The CBO's policy analysis: an unquestionable misuse of a questionable theory
The analyses of fiscal and monetary policies that the Congressional Budget Office (CBO) provides Congress tend to be biased, encouraging the use of activist stabilization policies. The CBO?s virtual neglect of economic uncertainties and its emphasis on very short time horizons make active policies appear much more attractive than its own model implies. Moreover, the CBO?s adoption of the macroeconometric approach fundamentally biases its analyses. Macroeconometric models do not remain invariant to changes in policy rules and are mute on the implications of alternative policies for efficiency ...
Journal Article
Explaining the demand for free bank notes
Journal Article
Interview with Christopher Sims
Christopher Sims, Princeton economist, on inflation targets, vector autoregression and the importance of monetary policy.
Journal Article
Early childhood development on a large scale
Journal Article
Interview with Edward C. Prescott
When Prescott was named a Regents' professor at the University of Minnesota this summer?an honor reserved for just 20 active professors at any time?it was not only a recognition of his contributions to economics research, but also his dedication to the classroom.
Journal Article
Interview with Anne O. Krueger
The first deputy managing director of the International Monetary Fund discusses currency boards, the resilient world economy and the importance of economic literacy, among other issues, with Minneapolis Fed Research Director Arthur J. Rolnick.