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Conference Paper
Remarks on evolving payment system issues
Greenspan, Alan
(1996)
Proceedings
Conference Paper
Depository Institutions Deregulation and Monetary Control Act of 1980
Wallace, William H.
(1980)
Proceedings
Conference Paper
Price- and wage- inflation targeting: variations on a theme by Erceg, Henderson, and Levin
Canzoneri, Matthew B.; Diba, Behzad T.; Cumby, Robert E.
(2005)
Proceedings
Conference Paper
Liquidity and fire sales
LeRoy, Stephen F.; Kelly, David L.
(2005)
A ?fire sale? occurs when the owner of a good offers it for sale at a price strictly below the price that some buyers would willingly pay for the good. He does so because the advantage of the quick sale made possible by the lower price outweighs the higher price that other potential buyers would pay, given the likely delay in locating these buyers in the latter case. Fire sales can occur only in illiquid markets. This paper generalizes earlier treatments of illiquid markets by assuming that the asset can be offered for sale at any time, rather than only after its owner loses his capacity to ...
Proceedings
Conference Paper
Design of model simulations
Mabry, Michael; Marquez, Jaime R.
(1990)
Proceedings
Conference Paper
Income payments to individuals
Sarcinelli, Mario
(1980)
Proceedings
Conference Paper
Pricing money transfer services
Williamson, Mick
(1980)
Proceedings
Conference Paper
Heterogeneous beliefs, trading risk, and the equity premium
David, Alexander
(2005)
Proceedings
Conference Paper
Certainty equivalence - discussion
Wieland, Volker W.
(2005)
Proceedings
Conference Paper
Estimating forward-looking Euler equations with GMM estimators: an optimal-instruments approach
Fuhrer, Jeffrey C.; Olivei, Giovanni P.
(2005)
We compare different methods for estimating forwardlooking output and inflation equations and show that weak identification can be an issue in conventional GMM estimation. GMM and maximum likelihood procedures that impose the dynamic constraints implied by the forwardlooking relation on the instruments set are found to be more reliable than conventional GMM. These ?optimal instruments? procedures provide a robust alternative to estimating dynamic macroeconomic relations, and suggest only a limited role for expectational terms.
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