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Journal Article
A perspective on the federal deficit problem
Working Paper
Monetary and exchange rate policy in Austria: an early example of policy coordination
This paper describes the evolution of Austrian exchange rate and monetary policy as an example of the benefits of policy coordination and credibility. This policy proved the performance of the Central Bank in achieving its twin objective of stabilizing the internal and external value of the currency. In this process, policymakers have sought to exploit the advantages of credibility by building a reputation for sticking to their policy. The evidence presented exhibits the increased coordination between Austrian and German nominal aggregates in the course of time. These accomplishments have ...
Working Paper
Energy price shocks in a reduced-form monetarist model
Journal Article
International linkages in the term structure of interest rates
Conference Paper
Alternative explanations of the 1982-1983 decline in velocity
Journal Article
The welfare cost of inflation
Journal Article
Here’s Why U.S. Manufacturing Is Fundamentally Strong
According to a recent Gallup poll,1 Americans believe a vibrant manufacturing sector is "key" to boosting job growth.
Journal Article
The macroeconomic effects of the recent fall in oil