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Recently there has been a heated debate on what are the major reasons of the global financial crisis in the economic literature. Among many theories proposed, the global saving glut hypothesis is wide...
Changes in Monetary Policy and the Fight Against Inflation     Monetary Policy  Fight Against Inflation       font style='font-size:12px;'> 2008/12/17
I would like to begin by dispelling two myths that have grown up about monetary policy in the United States. One is that until October 1979 the Fed targeted interest rates and then switched to a mon...
Rules vs. Discretion in Monetary Policy     Monetary Policy  stable money  monetary regime  economic policy       font style='font-size:12px;'> 2008/12/17
In this paper I will take the phrase “stable moneyto mean a monetary regime that insures zero inflation on the average over long periods, small variations (if any) in the price level over short pe...
A CONGRESSIONAL MANDATE FOR MONETARY POLICY     MONETARY POLICY  monetary regime  Federal Reserve System       font style='font-size:12px;'> 2008/12/8
Under the Constitution, Congress is responsible for determining the monetary regime. An attempt is made in this paper to explain, from the perspective of the self-interest of Congress, the current m...
MONETARY POLICY AS A FISCAL INSTRUMENT     MONETARY POLICY  FISCAL INSTRUMENT       font style='font-size:12px;'> 2008/12/8
Introduction and Summary Recommendations The depression of the 1930s resulted in the creation of many federal agencies that served reasonably well for several decades. Beginning late in the 1970s a...
DEFICITS, INTEREST RATES, AND MONETARY POLICY     DEFICITS  INTEREST RATES  MONETARY POLICY       font style='font-size:12px;'> 2008/12/8
The deficit ofthe federal budget dominates attention of the public arena. The process began with President Carter’s ill-fated budget announcement in February 1980. The response of the bond market r...
MONETARY POLICY AND THE BUSINESS CYCLE     MONETARY POLICY  BUSINESS CYCLE       font style='font-size:12px;'> 2008/12/5
One of the important policy issues we face today is the linkage between monetary policy and the business cycle. This issue is of relevance from an economic point ofview, but I assure you it is also ...
Current Perspectives on Monetary Policy     Current Perspectives  Monetary Policy       font style='font-size:12px;'> 2008/12/3
Rather than discuss the specifics of the Federal Reserve’s current concerns and goals for policy, I wish to discuss the more fundamental long-term goals ofmonetary policy and how we can proceed to r...
A PUBLIC CHOICE PERSPECTIVE ON THE CYCLE IN MONETARY POLICY     monetary policy  monetary policy  PUBLIC CHOICE       font style='font-size:12px;'> 2008/12/2
The purpose of this paper is to develop a theory of the cycle in monetary policy and, thereby, to suggest a direction for those who would seek an answer to Bennett McCallum’s question. In this cycle...
POLITICAL GUIDANCE ON MONETARY POLICY     POLITICAL GUIDANCE  MONETARY POLICY       font style='font-size:12px;'> 2008/11/25
POLITICAL GUIDANCE ON MONETARY POLICY
MAKING MONETARY POLICY     MAKING MONETARY POLICY  open market committee       font style='font-size:12px;'> 2008/11/25
MAKING MONETARY POLICY
MONETARY POLICY, MARKET PRICES, AND SUPPLY-SIDE FORECASTING     MONETARY POLICY  MARKET PRIC  SUPPLY-SIDE FORECASTING       font style='font-size:12px;'> 2008/11/25
MONETARY POLICY, MARKET PRICES, AND SUPPLY-SIDE FORECASTING。
COMMODITY PRICES AND MONETARY POLICY:WHAT HAVE WE LEARNED?          font style='font-size:12px;'> 2008/11/25
COMMODITY PRICES AND MONETARY POLICY:WHAT HAVE WE LEARNED?
MONETARY POLICY IN AN INTEGRATED WORLD ECONOMY     MONETARY POLICY  INTEGRATED WORLD ECONOMY       font style='font-size:12px;'> 2008/11/25
The revolutionary changes occurring in Europe and elsewhere raise the important question of how to achieve monetary stability in an increasingly integrated world economy. In addressing this issue, I...
The Trend in Politicization Traditionally, the Federal Reserve Chairman has been considered the most important figure in the monetary policy arena. Evidence regarding whether the Chairman systemati...

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