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Conference Paper
Remarks on evolving payment system issues
Journal Article
Central bank perspectives on stabilization policy
For some time, the use of monetary and fiscal policies to smooth business cycle fluctuations has taken a back seat to longer term objectives of restoring price stability and fiscal balance. More recently, however, weaker economic performance in some of the world?s economies, most notably in Japan and the United States, has led to renewed interest in the use of short-run stabilization policy. ; This year the bank?s economic policy symposium, ?Rethinking Stabilization Policy,? explored the potential scope for stabilization policy in this new environment. The papers presented at the symposium ...
Working Paper
Estimates of home mortgage originations, repayments, and debt on one-to-four-family residences
Since 1997, when the Department of Housing and Urban Development discontinued its quarterly gross mortgage flow system, there has been no systematic attempt to disaggregate the net change in outstanding home mortgage debt into its constituent gross flows. Using a different approach, we have developed a system that reconciles the change in regular home mortgage debt with mortgage flows. The latter includes home purchase and refinance originations, and mortgage purchases, sales, and repayments for five types of mortgage originators and six categories of other mortgagees. In the process, we ...
Journal Article
Statement to Congress, May 21, 1998, (Asian financial crisis).