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Journal Article
Deflation and real economic activity under the gold standard
Journal Article
Money-income relationships and the exchange rate regime
Journal Article
An introduction to non-tariff barriers to trade
Journal Article
Oil imports and the fall of the dollar
Journal Article
Are trade deficits a problem?
Journal Article
Banking crisis solutions old and new
In 2007 Britain experienced its first run on a bank of any macroeconomic significance since 1866. This was not dealt with by the method that had maintained banking stability for so long: letting the bank fail but supplying abundant liquidity to the markets to prevent contagion. In this paper the authors examine why that traditional solution was not used and propose changes to Britain's deposit insurance system, to its bank insolvency regime, and in arrangements to allow customers access to banking services should their bank be closed-so that the traditional approach can once more be used to ...
Journal Article
Do foreigners control the U.S. money supply?