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Series:Economic and Financial Policy Review 

Journal Article
B2B emarketplace announcements and shareholder wealth

In the business-to-business (B2B) sector, new supply-chain models within electronic marketplaces (eMarketplaces) offer firms significantly lower procurement costs, increased operating efficiencies, and expanded market opportunities. Using event-study methodology to look at the period July 1999-March 2000, Andrew Chen and Thomas Siems find that investors reacted favorably to B2B eMarketplace announcements, with slightly higher abnormal returns associated with vertical than with horizontal eMarketplaces. They also find significant positive abnormal returns for e-commerce technology providers ...
Economic and Financial Policy Review , Issue Q I , Pages 12-22

Journal Article
Regulation, bank competitiveness, and episodes of missing money

John Duca reviews three episodes of "missing money," periods during which one of the monetary aggregates was unusually weak. Duca finds that in each of these episodes, an increased regulatory burden on banks encouraged households and firms to bypass the banking system in favor of nonbank financial liabilities and assets. Using a standard analytical framework, he shows how these shifts by investors can lead to cases of missing money and declines in banks' role in providing credit. Duca further shows that increases in bank regulatory burden can create potential problems for analysts in using ...
Economic and Financial Policy Review , Issue Apr , Pages 1-23

Journal Article
Fiscal pressure and central bank policy objectives

Economic and Financial Policy Review , Issue May , Pages 1-9

Journal Article
Banking and currency crisis recovery: Brazil's turnaround of 1999

Of the many countries that suffered exchange rate crises in the 1990s, Brazil and Korea recovered most rapidly. This article analyzes the Brazilian recovery. William Gruben and John Welch focus on the freedom that Brazilian bank health gave to the central bank to pursue a postcrisis monetary policy that would settle markets, reestablish price stability, and encourage investment and the return of foreign capital. Brazilian bank health was not an accident; it reflected not only bank responses to precrisis changes in government regulations, but also to large precrisis interest rate increases ...
Economic and Financial Policy Review , Issue Q IV , Pages 12-23

Journal Article
The effect of monetary policy on long-term interest rates: further evidence from an efficient-markets approach

Economic and Financial Policy Review , Issue Mar , Pages 10-16

Journal Article
Income growth in the southwest: implications for long-term development

Many observers view economic diversification as the antidote for the Southwests boom-and-bust cycles and as the key to long-term economic growth. Robert W. Gilmer addresses this issue by analyzing whether regional growth has been dominated by industry-specific cyclical factors or whether internal factorssuch as labor force quality, infrastructure, and the educational systemhave primarily accounted for long-term growth. ; Gilmers analysis suggests that, for long-term growth, internal factors are more critical than industry mix. Gilmer concludes that policies designed to promote local ...
Economic and Financial Policy Review , Issue Nov , Pages 1-14

Journal Article
A study of the relationship between economic growth and inequality: the case of Mexico

Economic and Financial Policy Review , Issue May , Pages 13-25

Journal Article
Monetary aggregates and the rate of inflation

Some economists advocate focusing less emphasis on monetary aggregates because the relationship of monetary aggregates to the ultimate goals of monetary policy is less reliable now than in the past. But the stability of the relationship between money growth and inflation is a testable hypothesis. Joseph Haslag investigates whether money growth is currently as useful a predictor of inflation as it previously has been. He tests three different measures of money growth: the monetary base, M1 and M2. Haslag finds that the relationship remains stable over time. ; Haslag also finds that both the ...
Economic and Financial Policy Review , Issue Mar , Pages 1-12

Journal Article
The abrogation of gold clauses in 1933 and its relation to current controversies in monetary economics

Economic and Financial Policy Review , Issue Jul , Pages 1-17

Journal Article
Pay-as-you-go Social Security and the aging of America: an economic analysis

Because it is a mature pay-as-you-go retirement system, Social Security provides current and future workers with below-market returns. These workers bear the burden of the unfunded liability arising from windfall gains to past retirees. Alan D. Viard uses these principles to examine the effects of three demographic developments: the low birthrate since the baby boom ended in 1965, the impending retirement of the baby boomers, and the downward trend in old-age mortality. The low birthrate reduces Social Securitys long-run rate of return as the unfunded liability is spread across fewer workers. ...
Economic and Financial Policy Review

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Koenig, Evan F. 15 items

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