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Series:Economic Review  Bank:Federal Reserve Bank of Kansas City 

Journal Article
Implications of structural changes in the U.S. economy for pricing behavior and inflation dynamics

Some key features of the behavior of inflation in the United States appear to have changed in the past 20 years, with potentially important implications for forecasters and policymakers. Recent studies have provided evidence of a decline in both the variability and persistence of inflation. ; Such shifts in the behavior or dynamics of inflation would necessitate changes in the economic relationships used by policymakers and economists to assess current conditions, forecast key economic indicators, and determine the implications of policy changes for future economic activity. ; Willis examines ...
Economic Review , Volume 88 , Issue Q I , Pages 5-27

Journal Article
Bank profitability and bank size

Economic Review , Volume 61 , Issue Jan , Pages 11-16

Journal Article
The use of severance taxes in Tenth District states

Economic Review , Volume 70 , Issue Apr , Pages 3-16

Journal Article
The instruments of monetary policy

Economic Review , Volume 69 , Issue May , Pages 3-20

Journal Article
Monetary growth and business cycles - part I: the theoretical and historical perspective

Economic Review , Volume 64 , Issue Apr , Pages 3-11

Journal Article
Is commercial real estate reliving the 1980s and early 1990s?

Concern has been rising about the health of the U.S. commercial real estate market and any impact it may have on financial markets and institutions. It is too early to judge the full extent of any problems, but commercial real estate financing has been shaken by the financial market turmoil associated with recent residential mortgage defaults. The spreads of commercial mortgage-backed securities have widened relative to Treasury securities, and recent reports suggest that prices for many commercial properties are declining. In addition to the direct effects on construction activity, large ...
Economic Review , Volume 93 , Issue Q III , Pages 89-115

Journal Article
The effects of deficits on interest rates

Economic Review , Volume 68 , Issue May , Pages 19-28

Journal Article
Communicating a policy path: the next frontier in central bank transparency?

In the last two decades, central banks have taken a variety of steps to increase the transparency of monetary policy. Today, many economists are suggesting ways to further increase transparency. One area of considerable interest is the outlook for the future path of the policy rate. The policy rate is the short-term, typically overnight, interest rate that central bankers use to adjust the stance of monetary policy. While central banks typically announce changes in the policy rate when they occur, very few central banks provide an explicit description of where the policy rate is likely to be ...
Economic Review , Volume 92 , Issue Q I , Pages 25-51

Journal Article
Has the effect of monetary policy announcements on asset prices changed?

The Federal Reserve increasingly has relied on forward guidance about the future path of the federal funds rate to implement monetary policy since the federal funds target rate reached its effective lower bound. The enhanced use of forward policy guidance has drawn attention to any change in its influence on the real economy. Changes in policy guidance affect the private sector?s expectations about the future path of the federal funds rate and, in turn, affect bond yields, stock prices and asset values. Changes in asset values influence real activity through their effects on spending by ...
Economic Review , Issue Q III , Pages 31-65

Journal Article
Will the wild ride for U.S. agriculture continue in 1997?

U.S. agriculture formally entered a new era in April 1996 when a new seven-year farm bill was signed into law overturning 60 years of commodity programs. The new bill set agriculture on a new course where markets, not government programs, will determine agriculture's products and its bottom line. The new path was underscored by one of the wildest years in commodity markets in recent memory. Grain prices soared to new heights, while cattle prices sank to new lows. The market swings pointed to the variations in income that agriculture may experience under the new farm bill. Nevertheless, a new ...
Economic Review , Issue Q I , Pages 63-78

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