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Bank:Federal Reserve Bank of Boston  Series:New England Economic Review 

Journal Article
Household wealth composition: the impact of capital gains

New England Economic Review , Issue Nov , Pages 26-39

Journal Article
New England banks and the Texas experience

New England banks are currently suffering from problems similar to those that caused the demise of many Texas banks. In both cases, a boom in the real-estate sector was followed by a sharp contraction caused by weakness in the leading sectors of the economy. In both cases, banks had greatly expanded their real-estate lending, and the declining real-estate prices produced substantial loan losses. ; This study suggests, however, that these similarities do not imply that New England will go on to repeat the Texas experience. The author finds that New England does not suffer from construction ...
New England Economic Review , Issue Sep , Pages 55-62

Journal Article
The Uruguay round of trade negotiations: an overview

On December 15, 1993, in Geneva, Switzerland, negotiators representing 117 countries reached consensus on the Final Act of the Uruguay Round, the most comprehensive international trade agreement in history. The Final Act prescribes, among other things, that tariffs on industrial products be reduced by an average of more than one-third, that trade in agricultural goods be progressively liberalized, and that a new body, the World Trade Organization, be established both to facilitate the implementation of multilateral trade agreements and to serve as a forum for future negotiations. The Final ...
New England Economic Review , Issue May , Pages 3-14

Journal Article
How does public infrastructure affect regional economic performance?

Bridge collapses and water main explosions focus national attention on the crumbling condition of the nations infrastructure. Catastrophic infrastructure failures are always a momentary spur to debate on the nations capital investment policies. But increasingly these negative developments have been accompanied by economists claims that public capital investment makes a significant contribution to national output, . productivity, growth, and international competitiveness ; This paper explores the impact of public capital on economic activity at the state and regional level. The author ...
New England Economic Review , Issue Sep , Pages 11-33

Journal Article
The United States in debt

After 1982 the international investment position of the United States dramatically shifted from one of sizable net creditor to much more sizable net debtor. As the U.S. deficit on current international transactions soared to record levels during the mid-1980s, some observers perceived a grave loss of U.S. competitiveness that was "deindustrializing" America. Others warned of an imminent international financial crisis. ; This article examines the growth of U.S. indebtedness to the rest of the world and its underlying causes, and considers the consequences and some proposed remedies. The ...
New England Economic Review , Issue Sep , Pages 34-54

Journal Article
The neutrality of Massachusetts' taxation of financial institutions

The provision of financial services has changed dramatically over the past two decades. Technological innovation and deregulation have extended providers' geographic range and broadened the array of products they are capable of delivering. These changes have intensified competition among financial service firms. In recent years Massachusetts, like other states, has passed legislation designed to narrow disparities among the tax burdens of these institutions. At the same time, the Commonwealth has passed tax cuts designed to enhance the competitiveness of Massachusetts-based financial ...
New England Economic Review , Issue May , Pages 41-56

Journal Article
Interest rate swaps: use, risk, and prices

New England Economic Review , Issue Nov , Pages 22-32

Journal Article
Why has productivity growth declined? Productivity and public investment

The decline in United States productivity has been widely identified as one of the major economic problems facing the nation. This concern is understandable; productivity growth is the major determinant of the future standard of living. Economists have gone to great lengths to try to identify the reasons for the slowdown, and David Aschauer recently introduced the notion that the stock of public infrastructure, as well as the stock of private capital, may be a key to explaining changes in output from the private sector. ; This study builds upon Aschauers insight and explores whether changes ...
New England Economic Review , Issue Jan , Pages 3-22

Journal Article
Defense cutbacks and the New England economy

Defense is a regrettable expenditure. Like law enforcement and insurance, defense spending may be necessary but intrinsically it does not make us feel better off in the same way as, for example, housing, transportation services, and education. Thus the reductions in East- West tensions that enable us to allocate more dollars to items that directly improve living standards should be welcome. ; Nevertheless, adjustment to a lower level of defense spending has costs. Reduced demand for defense services will cause disruptions for defense-oriented companies and their workers. Concern is especially ...
New England Economic Review , Issue Jul , Pages 3-24

Journal Article
Resolving a banking crisis: what worked in New England

Many Asian economies are now experiencing economic hardship, their troubles stemming in part from crises in their banking sectors. Given the important role the banking sector plays in these economies, resolution of their banking crises is a vital first step toward resuming economic growth. Unfortunately, the steps taken so far appear inadequate, and many observers compare current attempts to those of U.S. regulators during our initial efforts to resolve the S&L crisis. Given the lengthy time it took and the high cost of the taxpayer-supported resolution, this is not a comparison the Asian ...
New England Economic Review , Issue Sep , Pages 49-62

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Kopcke, Richard W. 27 items

Little, Jane Sneddon 26 items

Rosengren, Eric S. 26 items

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Bradbury, Katharine L. 21 items

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