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Content Type:Journal Article 

Journal Article
IPC or total deposits? There is a difference

An abstract for this article is not available
Economic Review , Volume 73 , Issue Mar , Pages 31-38

Journal Article
Swiss and United States monetary policy: has monetarism failed?

An abstract for this article is not available
Economic Review , Volume 73 , Issue May , Pages 3-16

Journal Article
The effect of exchange rate variation on U.S. textile and apparel imports

An abstract for this article is not available
Economic Review , Volume 73 , Issue May

Journal Article
Cost dispersion and the measurement of economies in banking

An abstract for this article is not available
Economic Review , Volume 73 , Issue May

Journal Article
An overview of agricultural policy... past, present, and future

An abstract for this article is not available
Economic Review , Volume 73 , Issue May

Journal Article
Henry Thornton: seminal monetary theorist and father of the modern central bank

Henry Thorntons Paper Credit of Great Britain (1802) established once and for all the notion that central banks have the prime responsibility for controlling the money stock and the price level. This theme and the analytical framework underlying it reappeared in the famous Bullion Report (1810). There he and his coauthors contended that the central banks responsibility should be made explicit and that the mechanics for ensuring price level stability should be a matter of rules, not discretion.
Economic Review , Volume 73 , Issue Jul , Pages 3-16

Journal Article
Classical and neoclassical roots of the theory of optimum tariffs

Despite their image as free traders, six leading British classical and neoclassical economists formulated a valid theoretical argument for tariffs. They showed that a suitably small tariff could, under certain conditions, benefit the levying country by improving its terms of trade. They also stressed the insuperable practical difficulties of implementing such optimum tariffs. These difficulties plus the likelihood of foreign retaliation convinced them that free trade was the best policy after all.
Economic Review , Volume 73 , Issue Jul , Pages 17-28

Journal Article
A review of bank performance in the Fifth district, 1986

Gains from sales of securities and lower loan loss previsions helped bring higher profits to large Fifth District commercial banks in 1986. At the same time, small- and medium-sized bank profits fell slightly in the District from the previous year. As in the past few years, Fifth District banks outperformed banks in the rest of the United States. For the benefit of those readers curious about the problems connected with measuring bank performance, the authors discuss the most common bank profitability measures and the consequences of relying on accounting rather than market data.
Economic Review , Volume 73 , Issue Jul , Pages 29-37

Journal Article
The Australian money market and the operations of the Reserve Bank of Australia: a comparative analysis

This article provides a comparative analysis of central bank operating procedures in Australia and the United States. It also examines the effect that the structure of overnight money markets, reserve requirements, and central bank lending procedures have on monetary control in both countries. Evidently the Australian financial structure is such that an interest rate instrument provides superior control of money, a result that may not hold in the United States.
Economic Review , Volume 73 , Issue Sep , Pages 19-31

Journal Article
Money growth volatility and high nominal interest rates

The period 1979-86 saw (1) high interest rates, (2) volatile money growth, and (3) new Fed operating procedures. Was the third item the chief cause of the other two? Probably not. For much of the increased monetary volatility stemmed not from the new procedures but rather from the publics deregulation-induced switching from assets included in M1 to those included in M1 and M2. Moreover it was not monetary volatility as much as deregulation-triggered rises in money demand that contributed to high rates early in the period.
Economic Review , Volume 73 , Issue Nov , Pages 10-19



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