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Bank:Federal Reserve Bank of Dallas  Series:Economic and Financial Policy Review 

Journal Article
Is there a stable relationship between capacity utilization and inflation?

Many policymakers and financial market participants use the Federal Reserve's industrial capacity utilization rate as an indicator of future changes in inflation. During the past few years, however, the usefulness of the utilization rate as an inflation indicator has come under scrutiny. ; In this article, Kenneth Emery and Chih-Ping Chang examine capacity utilization's power to predict changes in inflation, with a focus on whether the relationship is stable over time. They find that while there was a positive forecasting relationship between capacity utilization and changes in consumer price ...
Economic and Financial Policy Review , Issue Q I , Pages 14-20

Journal Article
Reserve requirements, the monetary base, and economic activity

Economic and Financial Policy Review , Issue Mar , Pages 1-15

Journal Article
Interest rate spreads, commodity prices, and the dollar: a new strategy for monetary policy?

Economic and Financial Policy Review , Issue Jul , Pages 13-26

Journal Article
The comparative growth performance of the U.S. economy in the postwar period

Productivity growth is the single most important determinant of improvements in a country's living standards over time. Accordingly, the U.S. productivity slowdown of the past two decades has caused great concern and sparked much debate. ; In this article, Mark A. Wynne argues that the problems associated with the U.S. slowdown may be overstated. Wynne shows that the rates of productivity growth experienced in the immediate postwar period were extraordinary in comparison with historical standards. Thus, some slowdown was probably unavoidable. U.S. productivity performance in comparison with ...
Economic and Financial Policy Review , Issue Q I , Pages 1-16

Journal Article
A look at long-term developments in the distribution of income

Developments in the distribution of income have received much attention over the past decade. Several analysts have argued that income gains have gone almost exclusively to the highest paid 20 percent of the population, leaving no gains to the remaining 80 percent. ; Joseph H. Haslag and Lori L. Taylor examine developments in income inequality over the past forty years and estimate which factors account for these changes over time. While some researchers have found that income distribution became more equal during the 1950s and 1960s and then less equal after the mid-1970s, Haslag and Taylor ...
Economic and Financial Policy Review , Issue Jan , Pages 19-30

Journal Article
Government budgets and property values

Lori L. Taylor debunks several popular beliefs as she examines how property values relate to taxes, government services, and government debt. She finds that, contrary to popular belief, property values do not necessarily decrease when local governments increase taxes to pay for services. Her analysis reveals that taxpayers value all types of government services, including transfer payments such as welfare and health services. Taylor's work also suggests that people do not automatically prefer deficit spending to tax increases.
Economic and Financial Policy Review , Issue Sep , Pages 1-7

Journal Article
Can the stock market tell bank supervisors anything they don't already know?

This article provides evidence consistent with recent policy proposals calling for a greater role for market forces in promoting a safe and sound financial system. The authors' empirical results indicate a measure of expected default probability distilled from equity prices helps predict the financial condition of individual banking organizations, as reflected in their supervisory ratings. Moreover, the stock market data have predictive power over and above the information in the quarterly financial statements available to supervisors between inspections. These findings suggest financial ...
Economic and Financial Policy Review , Issue Q II , Pages 2-9

Journal Article
The engine of capitalist process: entrepreneurs in economic theory

Market economies rely on entrepreneurs as their driving force. In this article, Robert Formaini examines why entrepreneurs are important for us today. He traces the history of the concept of entrepreneurship in economic theory, showing how the concept's popularity has varied greatly since its first use. Formaini seeks to examine the concept's development as one of the key explanatory variables for profit, economic growth, and income differentials. Finally, he investigates the policy implications of adopting different views of entrepreneurs.
Economic and Financial Policy Review , Issue Q IV , Pages 2-11

Journal Article
Drought 1988: farmers and the macroeconomy

Economic and Financial Policy Review , Issue Sep , Pages 15-22

Journal Article
The European system of central banks

On January 1, 1999, the European System of Central Banks (ESCB) began conducting monetary policy for eleven of the fifteen nations of the European Union, formally creating an economic and monetary union. The ESCB is governed by the decision-making bodies of the European Central Bank (ECB) and manages Europe's new currency, the euro. The structure of the ESCB is in many ways similar to that of the Federal Reserve System, with the ECB playing a role similar to that of the Board of Governors and the various national central banks occupying positions not unlike those of the regional Reserve ...
Economic and Financial Policy Review , Issue Q I , Pages 2-14




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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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