Journal Article
Interest rate spreads, commodity prices, and the dollar: a new strategy for monetary policy?
Lown, Cara S. (1989-07)
Economic and Financial Policy Review , Issue Jul , Pages 13-26

Report
What was behind the M2 breakdown?
Peristiani, Stavros; Robinson, Kenneth J.; Lown, Cara S. (1999)
A deterioration in the link between the M2 monetary aggregate and GDP, along with large errors in predicting M2 growth, led the Board of Governors to downgrade the M2 aggregate as a reliable indicator of monetary policy in 1993. In this paper, we argue that the financial condition of depository institutions was a major factor behind the unusual pattern of M2 growth in the early 1990s. By constructing alternative measures of M2 based on banks? and thrifts? capital positions, we show that the anomalous behavior of M2 in the early 1990s disappears. Specifically, after accounting for the effect ...
Staff Reports , Paper 83

Journal Article
Banking and securities and insurance: economists' views of the synergies - summary of presentations
Lown, Cara S. (2000-10)
Economic Policy Review , Issue Oct , Pages 7-10

Journal Article
The changing landscape of the financial services industry: what lies ahead?
Osler, Carol L.; Sufi, Amir; Strahan, Philip E.; Lown, Cara S. (2000-10)
Economic Policy Review , Issue Oct , Pages 39-54

Working Paper
Are reserve requirement changes really exogenous? An example of regulatory accommodation of industry goals
Lown, Cara S.; Wood, John H. (1989)
Working Papers , Paper 8911

Working Paper
Financial innovation and monetary policy effectiveness
Lown, Cara S. (1987)
Working Papers , Paper 8701

Working Paper
The capital gains and losses on U. S. government debt: 1942-1986
Lown, Cara S.; Cox, W. Michael (1987)
Working Papers , Paper 8705

Working Paper
Another look at the credit-output link
Lown, Cara S.; Hayes, Donald W. (1990)
Working Papers , Paper 9001

Working Paper
What was behind the M2 breakdown?
Peristiani, Stavros; Robinson, Kenneth J.; Lown, Cara S. (1999)
A deterioration in the link between the M2 monetary aggregate and GDP, along with large errors in predicting M2 growth, led the Board of Governors to downgrade the M2 aggregate as a reliable indicator of monetary policy in 1993. In this paper, we argue that the financial condition of depository institutions was a major factor behind the unusual pattern of M2 growth in the early 1990s. By constructing alternative measures of M2 based on banks and thrifts capital positions, we show that the anomalous behavior of M2 in the early 1990s disappears. Specifically, after accounting for the effect of ...
Financial Industry Studies Working Paper , Paper 99-2

Journal Article
Credit effects in the monetary mechanism
Lown, Cara S.; Morgan, Donald P. (2002-05)
Paper for a conference sponsored by the Federal Reserve Bank of New York entitled Financial Innovation and Monetary Transmission
Economic Policy Review , Volume 8 , Issue May , Pages 217-235