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Content Type:Journal Article 

Journal Article
Revitalizing the American dream

Economics Update , Issue Apr , Pages 4, 10

Journal Article
Does income equality spur growth?

Economics Update , Issue Jan , Pages 4

Journal Article
Do New England's public schools need finance reform? (Accountability and education reform, part 1)

Fiscal Facts , Issue Fall , Pages 1-5

Journal Article
Monetary policy and the behavior of long-term real interest rates

A time-honored description of the "monetary transmission channel" suggests that the Fed controls the federal funds rate, which affects the rates on longer-term credit market instruments, which affect the expected real (inflation-adjusted) rates on longer-term instruments, which affect real spending on interest-sensitive goods, which affects unemployment and inflation. And yet one key link in the chain, the expected real long-term interest rate, is not observable.> This article explores the link between the behavior of monetary policy and inferences about the behavior of the expected ...
New England Economic Review , Issue Sep , Pages 39-52

Journal Article
Price stability and regional diversity

An argument against using short-term monetary policy to alleviate regional economic shocks and an analysis of how regional economic diversity lends strength to the goal of price stability as the Federal Reserve System's sole monetary policy focus.
Economic Commentary , Issue May

Journal Article
Fiscal policy and fickle fortunes: what’s luck got to do with it?

The author contends that luck has played a major role in the fiscal fortunes of the 1990s. He (along with many others) is therefore concerned about the unquestioned presumption that projected budget surpluses are as good as achieved. Such a presumption, he says, is a shaky foundation from which to launch major new budget initiatives.
Economic Commentary , Issue Apr

Journal Article
Money market deposit accounts versus money market mutual funds

Economic and Financial Policy Review , Issue Nov , Pages 29-38

Journal Article
Publishing FOMC economic forecasts

Given the time lag between a monetary policy action and its effect on the economy, the importance of considering economic forecasts in the conduct of policy has long been acknowledged. Still, it is only over the past decade or so that the publication of central bank economic forecasts has been widely recognized as a potentially useful tool for monetary policy communication. As a result, many central banks have begun to express their views about the likely future path of the economy more openly (in line with a general trend toward greater central bank transparency). ; Last November, the ...
FRBSF Economic Letter

Journal Article
Velocity and monetary policy in 1982

FRBSF Economic Letter

Journal Article
Economic reform in China

FRBSF Economic Letter

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