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Journal Article
EMU at 1
Wynne, Mark A. (2000-01)
Economic and monetary union (EMU) among eleven of the fifteen members of the European Union began on January 1, 1999. The national currencies of the eleven were abolished and replaced with a new single currency, the euro. Responsibility for monetary policy shifted from the national central banks to the European Central Bank. Many commentators in the United States thought EMU would never come about or, if it did, that it would not last long. In this article Mark Wynne reviews EMU's first year. He looks at how the economy of the euro area has fared under the single monetary policy, ...
Economic and Financial Policy Review , Issue Q1 , Pages 14-28

Working Paper
Dollarization and monetary unions: implementation guidelines
Wynne, Mark A.; Zarazaga, Carlos E.; Gruben, William C. (2001-03-01)
The purpose of this paper is to discuss the main aspects of the implementation of a dollarization plan or of a monetary union, once the appropriate authorities have decided either course of action. Thus, the paper stays away from any normative issues. It is devoted to answering the question of how to dollarize or form a monetary union rather than the question of whether any given country should adopt any particular monetary regime.
Working Papers , Paper 0105

Working Paper
Dollarization and monetary unions: implementation guidelines
Wynne, Mark A.; Zarazaga, Carlos E.; Gruben, William C. (2001)
Economic Research Working Paper 0105
Center for Latin America Working Papers , Paper 0201

Working Paper
The Problem of Quality Change in Historical Price Statistics: An Illustrative Example Using Baedeker Travel Guides
Coulter, Jarod; Strackman, Braden; Wynne, Mark A. (2024-11-26)
The problem of accurately measuring inflation in the face of constant improvement in the quality of goods is a long-standing one in economics. This paper uses a novel dataset on the prices of the travel guidebooks published by the German publishing house Baedeker between 1832 and 1944 to construct a hedonic price index for guidebooks. Comparing these indexes to the list prices of these guidebooks, we show that the failure to adjust for improvements in the quality of the guidebooks over time imparts a substantial upward bias to measured inflation. For example, for German-language guidebooks, ...
Working Papers , Paper 2415

Working Paper
The aggregate effects of temporary government purchases
Wynne, Mark A. (1990)
Working Papers , Paper 9007

Global Perspectives: Richard Haass on Russia, China and Multilateralism
Wynne, Mark A. (2021-04-20)
Richard Haass—a veteran diplomat, prominent voice on American foreign policy and established leader of nonprofit institutions—and Dallas Fed President Robert S. Kaplan discussed the end of the Cold War, Russia, China and contemporary challenges.
Dallas Fed Economics

Journal Article
Taxation, growth, and welfare: a framework for analysis and some preliminary results
Wynne, Mark A. (1997-01)
Reform of the U.S. tax system has become the focus of much political discourse in recent years. Proposals have called for many types of change-from the relatively modest, like more favorable treatment of capital gains or tax credits for college education, to more radical plans to introduce a flat tax and "end the IRS as we know it." The benefits of such proposals, advocates claim, range from a more efficient, less burdensome tax collection process to higher long-run growth. ; In this article, Mark Wynne provides a framework for analyzing the validity of some of these claims. He begins with ...
Economic and Financial Policy Review , Issue Q I , Pages 2-13

Journal Article
The long-run effects of a permanent change in defense purchases
Wynne, Mark A. (1991-01)
In this article, Mark A. Wynne explores how a permanent reduction in defense spending might affect the average U.S. household. He finds that, in the long run, Americans will reap a peace dividend. For example, if Congress reduces annual defense spending from 6 percent of gross national product to 3 percent, in the long run private consumption as a share of GNP could rise 3 percentage points. In the short run, some businesses and households will sustain losses. Over time, however, the economy will reabsorb the resources freed by lower defense-related production and will expand production for ...
Economic and Financial Policy Review , Issue Jan , Pages 1-16

Global Perspectives: Betsy Price on Being Fort Worth Mayor, Governing and Bipartisanship
Wynne, Mark A. (2021-07-20)
Price and Dallas Fed President Rob Kaplan discussed her political career, the challenges she faced in office and the need for bipartisanship to get government business done.
Dallas Fed Economics

Working Paper
Assessing Bayesian model comparison in small samples
Wynne, Mark A.; Martinez-Garcia, Enrique (2014-08-01)
We investigate the Bayesian approach to model comparison within a two-country framework with nominal rigidities using the workhorse New Keynesian open-economy model of Martnez-Garca and Wynne (2010). We discuss the trade-offs that monetary policy characterized by a Taylor-type rule faces in an interconnected world, with perfectly flexible exchange rates. We then use posterior model probabilities to evaluate the weight of evidence in support of such a model when estimated against more parsimonious specifications that either abstract from monetary frictions or assume autarky by means of ...
Globalization Institute Working Papers , Paper 189

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