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Journal Article
Can market-clearing models explain U.S. labor market fluctuations?
Li, Victor E.
(1999-07)
Throughout the past two decades, market-clearing models of the business cycle have been praised for their ability to explain key empirical features of the post-war U.S. business cycle. Real business cycle (RBC) theory shows that in a model grounded in microeconomic foundations, disturbances to national productivity can explain how aggregate variables such as GDP, consumption and investment behave over time, relative to each other. One of the primary weaknesses of the standard RBC model, however, is its inability to account for some important aspects of U.S. labor market fluctuations. In this ...
Review
, Volume 81
, Issue Jul
, Pages 35-49
Journal Article
Assessing simple policy rules: a view from a complete macroeconomic model (commentary)
West, Kenneth D.
(2001-07)
Review
, Volume 83
, Issue Jul
, Pages 83-112
Journal Article
Assessing applied econometric results
Christ, Carl F.
(1993-03)
Review
, Issue Mar
, Pages 71-94
Journal Article
Getting back on track: macroeconomic policy lessons from the financial crisis
Taylor, John B.
(2010-05)
This article reviews the role of monetary and fiscal policy in the financial crisis and draws lessons for future macroeconomic policy. It shows that policy deviated from what had worked well in the previous two decades by becoming more interventionist, less rules-based, and less predictable. The policy implications are thus that policy should ?get back on track.? The article is a modified version of a presentation given at the Federal Reserve Bank of Philadelphia?s policy forum ?Policy Lessons from the Economic and Financial Crisis,? December 4, 2009. The presentation was made during a panel ...
Review
, Volume 92
, Issue May
Journal Article
Commentary on "organizational dynamics over the business cycle: a view on jobless recoveries"
Alvarez, Fernando
(2005-07)
Review
, Volume 87
, Issue Jul
Journal Article
Discrete policy changes and empirical models of the federal funds rate
Dueker, Michael J.; Rasche, Robert H.
(2004-11)
Empirical models of the federal funds rate almost uniformly use the quarterly or monthly average of the daily rates. One empirical question about the federal funds rate concerns the extent to which monetary policymakers smooth this interest rate. Under the hypothesis of rate smoothing, policymakers set the interest rate this period equal to a weighted average of the rate inherited from the previous quarter and the rate implied by current economic conditions, such as the Taylor rule rate. Perhaps surprisingly, however, little attention has been given to measuring the interest rate inherited ...
Review
, Volume 86
, Issue Nov
, Pages 61-72
Journal Article
Are preliminary week-to-week fluctuations in M1 biased?
Olson, Jeffrey B. C.; Stone, Courtenay C.
(1978-12)
Review
, Volume 60
, Issue Dec
, Pages 13-20
Journal Article
Technological Change and Central Banking
Andolfatto, David
(2024-01-05)
The decentralized autonomous organization (DAO) represents a radically new way to manage databases. Since money and payments are all about managing databases and since banks play a central role in money and payments, DAO-based money and payments systems are potentially a disruptive force in the banking system—which includes central banks. One would normally expect regulatory frameworks to evolve with a changing technological landscape. However, the decentralized governance structure characteristic of DAOs renders it near impossible to regulate these entities directly—a property that makes ...
Review
, Volume 106
, Issue 1
, Pages 1-9
Journal Article
A monetary view of the balance of payments
Kemp, Donald S.
(1975-04)
Review
, Volume 57
, Issue Apr
, Pages 14-22
Journal Article
Prospective prices for food and farm products in 1967
anonymous
(1967-01)
Review
, Volume 49
, Issue Jan
, Pages 16-20
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Journal Article 1677 items
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