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CHAPTER 21 CONTEMPORARY ISSUES |
I. Monetary Policy Targeting
Targeting P*
P-star Revisited: Money Based Inflation Forecasts with a Changing Equilibrium Velocity, Athanasios Orphanides and Richard Porter, Finance and Economics Discussion Series (FRB BOG), 98-26, May 1998
Eliminating Inflation By 1995, David J. Stockton, Lawrence Slifman, and Peter M. Hooper, Special Presentation to the FOMC, 18 Dec 1989
Material for Special Presentation to the Federal Open Market Committee, David J. Stockton, Lawrence Slifman, and Peter M. Hooper, 18 Dec 1989
Targeting Net Free Reserves
The Taylor Rule
Inflation Targeting
II. Adaptive and Rational Expectations
Adaptive Expectations
The Adaptive Expectations Model, Douglas A. Ruby, The Digital Economist
Rational Expectations
Rational Expectations, Thomas J. Sargent, The Concise Encyclopedia of Economics
The Rational Expectations Model, Douglas A. Ruby, The Digital Economist
Models of Business Cycles, Robert E. Lucas, Jr., 1987
Rational Expectations and Inflation,Thomas J. Sargent, 1986
Rational Expectations and Economic Policy, Stanley Fischer, ed., 1980
Rational Expectations and the Theory of Price Movements, John A. Muth, Econometrica, 29-6, 1961, 315-35
III. The Effectiveness of Monetary Policy
The Announcement Effect: Evidence from Open Market Desk Data, Selva Demiralp and Oscar Jordá, Economic Policy Review (FRBNY), May 2002, 29
Commentary on Demiralp and Oscar Jordá, Charles L. Evans, Economic Policy Review (FRBNY), May 2002, 49
Monetary Policy Transmission to Residential Investment, Jonathan McCarthy and Richard W. Peach, Economic Policy Review (FRBNY), May 2002, 139
Commentary on McCarthy and Peach, Christopher Mayer, Economic Policy Review (FRBNY), May 2002, 159
Securitization and the Efficacy of Monetary Policy, Arturo Estrella, Economic Policy Review (FRBNY), May 2002, 243
Commentary on Estrella, Sonya W. Stanton, Economic Policy Review (FRBNY), May 2002, 257
Does Bank Capital Matter for Monetary Transmission? Skander J. Van den Heuvel, Economic Policy Review (FRBNY), May 2002, 259
Commentary on Van den Huevel, Jeremy C. Stein, Economic Policy Review (FRBNY), May 2002, 267
Financial Consolidation and Monetary Policy, William B. English, Economic Policy Review (FRBNY), May 2002, 271
Commentary on English, Ignazio Angeloni, Economic Policy Review (FRBNY), May 2002, 285
Assessing Changes in the Monetary Transmission Mechanism: A VAR Approach, Jean Boivin and Marc Giannoni, Economic Policy Review (FRBNY), May 2002, 97
Commentary Boivin and Giannoni, Mark W. Watson, Economic Policy Review (FRBNY), May 2002, 113
Credit Effects in the Monetary Mechanism, Cara S. Lown and Donald P. Morgan, Economic Policy Review (FRBNY), May 2002, 217
Commentary on Lown and Morgan, John C. Driscoll, Economic Policy Review (FRBNY), May 2002, 237
Recent Trends in Monetary Policy Implementation: A View from the Desk, Sandra C. Krieger, Economic Policy Review (FRBNY), May 2002, 73
IV. The American Experience
The American Experience, WGBH, Public Broadcasting Corp. of Boston
On the Causes of the Increased Stability of the U.S. Economy, James A. Kahn, Margaret M. McConnell, and Gabriel Perez-Quiros, Economic Policy Review (FRBNY), May 2002, 183
Commentary on Kahn, McConnell, and Perez-Quiros, Spencer Krane, Economic Policy Review (FRBNY), May 2002, 203
Part 7: British Financial Warfare: 1929; 1931-33: How The City of London Created the Great Depression, Webster G. Tarpley, Surviving the Cataclysm: Your Guide Through the Worst Financial Crisis in Human History, Dec 1996
V. The Federal Budget Surplus
The Phantom Surplus, Robert D. Reischauer, New York Times, 28 Jan 2000
Economic View: Federal Budgeteers Ponder a Multiple-Choice Surplus, Richard W. Stevenson, New York Times, 23 Jan 2000
VI. Central Bank Independence
Keeping Politics Out of the Fed, Daniel Altman, New York Times, 28 Nov 2004
Federal Reserve Independence and the Accord of 1951, Carl E. Walsh, Weekly Letter (FRBSF), 93-21, May 28,1993
Perspectives on Federal Reserve Independence -- A Changing Structure for Changing Times, Bruce K. Mac Laury, Annual Report (FRBMinn), 1976
Defending Central Bank Independence, Richard W. Fisher, remarks at Instituto Tecnológico Autónomo de México, Mexico City, Mex., 7 Feb 2008
VII. The Value of Gold in Monetary Policy
Gold Prices, Joseph G. Haubrich, Economic Commentary (FRBClev), 1 Mar 1998
The Gold Standard: An Analysis of Some Recent Proposals, Joseph T. Salerno, Policy Analysis (Cato Institute), 16, 9 Sep 1982
VIII. The Regional Effects of Monetary Policy
Monetary Policy and the U.S. States and Regions: Some Implications for European Monetary Union, Gerald A. Carlino and Robert H. DeFina, Working Paper Series (FRBPhil), 98-17, 1998
The Differential Regional Effects of Monetary Policy: Evidence from the U.S. States, Gerald A. Carlino and Robert H. DeFina, Working Paper Series (FRBPhil), 97-12, 1997
Does Monetary Policy Have Differential Regional Effects? Gerald A. Carlino and Robert H. DeFina, Business Review (FRBPhil), Mar 1996
IX. Miscellaneous Issues
Monetary Policy in the Cold War Era, Mark S. Sniderman, Economic Commentary (FRBClev), Jun 1997