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Series:Business Review  Bank:Federal Reserve Bank of Philadelphia 

Journal Article
Shadow banking and the crisis of 2007-08
In recent decades, institutions that function much like traditional banks have grown outside regulatory oversight. Yet, as Daniel Sanches explains, these so-called shadow banks are as vulnerable to runs as regular banks. Because banking crises can inflict lasting economic harm, economists are interested in tracing how the panic ensued in the shadow system.
AUTHORS: Sanches, Daniel R.
DATE: 2014

Journal Article
The redistributive consequences of monetary policy
Monetary policy is not intended to benefit one segment of the population at the expense of another by redistributing income and wealth. But as Makoto Nakajima explains, it is probably impossible to avoid such redistributive consequences.
AUTHORS: Nakajima, Makoto
DATE: 2015

Journal Article
Introducing: the survey of professional forecasters
AUTHORS: Croushore, Dean
DATE: 1993

Journal Article
Deficit-financed tax cuts and interest rates
Why do proposals to lower taxes often meet with opposition in Congress. One argument is that lowering taxes without an equivalent fall in government spending may lead to future budget deficits, which will translate into higher long-term interest rates and a lower level of income. Sylvain Leduc discusses the theoretical arguments under which budget deficits lead to higher interest rates. He also surveys empirical studies that used data on expected budget deficits to document the possibility that increases in future budget deficits are associated with higher real long-term interest rates.
AUTHORS: Leduc, Sylvain
DATE: 2004

Journal Article
U.S. coins: forecasting change
Our next article talks about change-as in coins. Every year, the government produces about 70 new coins for every man, woman, and child. But the economy's need for coins can vary from year to year. So how do the U.S. Mint, which makes the coins, and the Federal Reserve, which distributes them, decide how many coins the economy needs? In "U.S. Coins: Forecasting Change," Dean Croushore highlights some facts about coins and describes how demand for change is forecast.
AUTHORS: Croushore, Dean
DATE: 2003

Journal Article
Making monetary policy: what do we know and when do we know it?
President Anthony Santomero points out that conducting a successful monetary policy presents real-world challenges, such as evaluating where the economy is, where it is going, and where it should be going. But how do monetary policymakers make decisions about the economy in a world with imperfect information? Santomero discusses how policymaking is affected by both the availability and reliability of economic information. He concludes that given the information constraints policymakers face, the challenges of setting monetary policy will not go away, so we must find a way to meet them
AUTHORS: Santomero, Anthony M.
DATE: 2005

Journal Article
The suburban housing market: the effects of city and suburban job growth
How does the location of new jobs in a metropolitan area affect the suburban housing market? Does it matter whether job growth occurs in the city or in the suburbs? And who, if anyone, benefits from job growth? Dick Voith takes a look at housing prices and construction rates in some Philadelphia suburbs to determine the impact of employment growth on the value of real estate assets.
AUTHORS: Voith, Richard
DATE: 1996

Journal Article
Efficient markets, interest rates, and monetary policy
AUTHORS: Mullineaux, Donald J.
DATE: 1981

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Carlino, Gerald A. 25 items

Mester, Loretta J. 25 items

Santomero, Anthony M. 22 items

Berlin, Mitchell 21 items

Crone, Theodore M. 20 items

Nakamura, Leonard I. 19 items

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Monetary policy 43 items

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