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Series:Economic and Financial Policy Review 

Journal Article
Money market deposit accounts versus money market mutual funds

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

Journal Article
Structure and technology of manufacturing in Texas and Louisiana

Economic and Financial Policy Review , Issue Jan , Pages 15-27

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
Oil prices and manufacturing growth: their contribution to Houston's economic recovery

The Houston economy went from boom to bust to recovery during the 1980s. Expectations of oil prices at $50 per barrel and higher in the late 70s and early 80s stimulated hundreds of oil-related projects in the area. An oil-price decline, however, led the Houston economy into a sharp recession that lasted from 1982 to 1986. The size of Houston's work force shrunk by more than 12 percent with the loss of more than 200,000 jobs. The late 80s brought renewed economic expansion, and Houston regained nearly 120,000 jobs. ; Robert W. Gilmer examines the Houston Economic recovery and draws six ...
Economic and Financial Policy Review , Issue Mar , Pages 13-22

Journal Article
Sticky prices: what is the evidence?

This article reviews the idea that sticky prices are important for understanding business cycles. Mark Wynne begins with a critical survey of the literature documenting the stylized facts about prices in individual markets. His first point is that there is remarkably little evidence that the actual transactions prices of most products are, in fact, sticky. Such evidence as there is to support the notion of widespread price stickiness is heavily biased toward low-tech products that account for a very small fraction of total output and is a thin reed on which to base a theory of business ...
Economic and Financial Policy Review , Issue Q I , Pages 1-12

Journal Article
Recent trade and exchange rate movements: possible explanations

Economic and Financial Policy Review , Issue Sep , Pages 13-28

Journal Article
Regional wage divergence and national wage inequality

Throughout much of the 1980s, wage inequality increased in the United States. Previous research has found that a rise in earnings by educational level and increased wage dispersion across occupations were important factors in the rise in wage inequality. Researchers, however, have noted that much of the rise in wage inequality was left unexplained by the demographic and industry factors that they examined. In this study, Keith R. Phillips extends the analysis by examining the impact on wage inequality of a divergence in regional wages that occurred during the 1980s. ; The author finds that ...
Economic and Financial Policy Review , Issue Q IV , Pages 31-44

Journal Article
Rethinking the IS in IS-LM: adapting Keynesian tools to non-Keynesian economies Part 1

The IS-LM diagram was developed as a tool for analyzing Keynesian economies-economies with "sticky" prices and myopic households. In a series of two articles, Evan Koenig shows that a graphical apparatus similar to the traditional IS-LM diagram can be used to analyze economies that have optimizing, forward-looking households. In particular, an expectations-augmented variant of IS-LM analysis is fully consistent with a popular real-business-cycle model. Thus, the IS-LM diagram has wide applicability as a pedagogical device and as a framework within which to discuss policy. ; This article ...
Economic and Financial Policy Review , Issue Sep , Pages 32-50

Journal Article
Loan growth and loan quality: some preliminary evidence from Texas banks

Following the failures of depository institutions in the 1980s, many analysts concluded that the rapid growth of lending activity and the deterioration of loan quality were related. Robert T. Clair tests this relationship after separating loan growth by its source: increased lending to new or existing customers, bank mergers, and acquisitions of failed banks. The preliminary evidence suggests that additional lending to new or existing customers beyond what might be normal at a given stage of the business cycle lowers loan quality after a three-year lag. This relationship, based on evidence ...
Economic and Financial Policy Review , Issue Q III , Pages 9-22

Journal Article
A return to profitability: the performance of eleventh district commercial banks

In 1990, the commercial banking industry in the Eleventh Federal Reserve District posted profits for the first time in five years. Kevin Yeats examines this turnaround and concludes that banks returned to profitability for three reasons: the Federal Deposit Insurance Corporation (FDIC) took over many bad loans as it resolved failed banks, banks lowered their burden from nonperforming loans by realizing losses and removing bad loans from the books, and improvement in the regional economy enabled some borrowers to catch up on delinquent payments. Yeats predicts that if delinquencies continue to ...
Economic and Financial Policy Review , Issue Jul , Pages 15-29

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Koenig, Evan F. 15 items

Brown, Stephen P. A. 14 items

Gruben, William C. 14 items

Haslag, Joseph H. 12 items

Phillips, Keith R. 12 items

Yücel, Mine K. 12 items

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Texas 20 items

Monetary policy 14 items

Inflation (Finance) 13 items

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