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Journal Article
Germany's recession continues, but long-term outlook is bright

Economics Update , Issue Jul , Pages 2-4

Journal Article
Bundesbank credit facilities defined

Economics Update , Issue Jul/Sep , Pages 2

Working Paper
Money demand and relative prices in hyperinflations: evidence from Germany and China

FRB Atlanta Working Paper , Paper 92-10

Working Paper
Money demand and relative prices in the German hyperinflation

FRB Atlanta Working Paper , Paper 91-8

Journal Article
The U.S. trade deficit: a perspective from selected bilateral trade models

New England Economic Review , Issue May , Pages 19-31

Working Paper
The burden of German unification: a generational accounting approach

An assessment of the generational stance of postunification German fiscal policy and an estimate of the burden of unification-related fiscal measures on West German generations, finding that future generations will bear much larger lifetime net tax burdens than current newborns.
Working Papers (Old Series) , Paper 9412

Working Paper
How independent should a central bank be?

The case for an independent central bank is becoming increasingly accepted. This new orthodoxy is based on three foundations: the success of the Bundesbank and the German economy over the past forty years; the theoretical academic literature on the inflationary bias of discretionary policy-making; and the empirical academic literature on central bank independence (CBI). The purpose of this paper is to examine each of the three legs of the argument for increased CBI. ; First we examine the empirical evidence on the relationship between CBI and economic performance. In this context, we compare ...
Working Papers in Applied Economic Theory , Paper 94-05

Working Paper
A comparison of discount rate models using international stock market data

This paper compares the ability of four discount rate models to explain the cross-sectional and time-series variation of stock returns in the U.S., Japan, England, Germany, and Canada. The data consist of quarterly returns (in dollars) on Morgan Stanley's Capital International indices for the period 1972 through 1991. The following four models are considered: (1) A consumption CAPM model, linking the discount rate to the intertemporal marginal rate of substitution in consumption, (2) A production CAPM model, linking the discount rate to the intertemporal marginal rate of transformation in ...
Working Papers in Applied Economic Theory , Paper 94-15

Working Paper
Optimal policy with limited commitment

This paper uses Whiteman's(1986) frequency-domain optimization methodology to parameterize the precommitment period in a standard rational expectations policy design model. This allows researchers to adopt an empirical approach to the time consistency issue. That is, the operative commitment horizon in a given policy setting can be estimated along with the other parameters characterizing the preferences and constraints of the agents in the model. It is shown that the commitment horizon can be estimated by running (restricted) regressions of the policymaker's instrument variable on past values ...
Working Papers in Applied Economic Theory , Paper 94-16

Journal Article
Commerce and banking: the German case

FRBSF Economic Letter

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Schmid, Frank A. 6 items

Gagnon, Joseph E. 5 items

Emmons, William R. 4 items

Fischer, Stanley 3 items

Frenkel, Jacob A. 3 items

Glick, Reuven 3 items

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