• 2020 8
  Fourth Quarter 2020

  Medical Spending, Bequests, and Asset Dynamics around the Time of Death

  John Bailey Jones, Mariacristina De Nardi, Eric French, Rory McGee and Rachel Rodgers

  Fourth Quarter 2020

  A Life-Cycle Model with Individual Volatility Dynamics

  Marios Karabarbounis

  Third Quarter 2020

  Sovereign CDS Market: The Role of Dealers in Credit Events

  Lawrence Jia, Bruno Sultanum and Elliot Tobin

  Third Quarter 2020

  Inflation Target Zones as a Commitment Mechanism

  Felipe F. Schwartzman

  Second Quarter 2020

  The Effects of Permanent and Transitory Shocks under Imperfect Information

  Andrew Foerster and Pierre-Daniel G. Sarte

  Second Quarter 2020

  Computing Dynamic Heterogeneous-Agent Economies: Tracking the Distribution

  Grey Gordon

  First Quarter 2020

  Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries

  Yongsung Chang, Andreas Hornstein and Marios Karabarbounis

  First Quarter 2020

  Technology Diffusion: The Case of Internet Banking

  Richard Sullivan and Zhu Wang

• 2019 8
  Fourth Quarter 2019

  Gender Composition of the Boards of Directors of the Regional Federal Reserve Banks

  Arantxa Jarque and Caroline Davis

  Fourth Quarter 2019

  Recent Borrowing from the U.S. Discount Window: Some Cases

  Huberto M. Ennis, Sara Ho and Elliot Tobin

  Third Quarter 2019

  Sentiment Analysis of the Fifth District Manufacturing and Service Surveys

  Santiago Pinto

  Third Quarter 2019

  Wealth Effects with Endogenous Retirement

  Borys Grochulski and Yuzhe Zhang

  Second Quarter 2019

  Time-Varying Skewness and Real Business Cycles

  Lance Kent and Toan Phan

  Second Quarter 2019

  CDS Auctions: An Overview

  Erica Paulos, Bruno Sultanum and Elliot Tobin

  First Quarter 2019

  US Bank Capital Regulation: History and Changes Since the Financial Crisis

  John R. Walter

  First Quarter 2019

  How Likely Is the Zero Lower Bound?

  Thomas A. Lubik and Christian Matthes

• 2018 8
  Fourth Quarter 2018

  Why Do Platforms Use Ad Valorem Fees? Evaluating Two Alternative Explanations

  Zhu Wang

  Fourth Quarter 2018

  What Can We Learn from Online Wage Postings? Evidence from Glassdoor

  Marios Karabarbounis and Santiago Pinto

  Third Quarter 2018

  The Lifetime Medical Spending of Retirees

  John Bailey Jones, Mariacristina De Nardi, Eric French, Rory McGee and Justin Kirschner

  Third Quarter 2018

  Inefficiency in a Simple Model of Production and Bilateral Trade

  Zachary Bethune, Bruno Sultanum and Nicholas Trachter

  Second Quarter 2018

  The Decline in Currency Use at a National Retail Chain

  Zhu Wang and Alexander L. Wolman

  Second Quarter 2018

  Idiosyncratic Sectoral Growth, Balanced Growth, and Sectoral Linkages

  Andrew Foerster, Eric LaRose and Pierre-Daniel G. Sarte

  First Quarter 2018

  Cyclical Properties of Bank Margins: Small versus Large Banks

  Borys Grochulski, Daniel Schwam and Yuzhe Zhang

  First Quarter 2018

  Self-Insurance and the Risk-Sharing Role of Money

  Russell Wong

• 2017 3
  First-Fourth Quarter 2017

  Inequality Across and Within US Cities around the Turn of the Twenty-First Century

  Felipe F. Schwartzman

  First-Fourth Quarter 2017

  The Fed's Discount Window: An Overview of Recent Data

  Felix P. Ackon and Huberto M. Ennis

  First-Fourth Quarter 2017

  Using the Richmond Fed Manufacturing Survey to Gauge National and Regional Economic Conditions

  Nika Lazaryan and Santiago Pinto

• 2016 12
  Fourth Quarter 2016

  Nonparametric Estimation of the Diamond-Dybvig Banking Model

  Bruno Sultanum

  Fourth Quarter 2016

  The Rise and Fall of the Quantity Theory in Nineteenth Century Britain: Implications for Early Fed Thinking

  Robert L. Hetzel

  Fourth Quarter 2016

  Private Efforts for Affordable Mortgage Lending Before Fannie and Freddie

  David A. Price and John R. Walter

  Third Quarter 2016

  From Stylized to Quantitative Spatial Models of Cities

  Pierre-Daniel G. Sarte and Sonya Ravindranath Waddell

  Third Quarter 2016

  Beveridge Curve Shifts and Time-Varying Parameter VARs

  Thomas A. Lubik, Christian Matthes and Andrew Owens

  Third Quarter 2016

  The Heterogeneous Business-Cycle Behavior of Industrial Production

  Jackson Evert and Felipe F. Schwartzman

  Second Quarter 2016

  Generalized Matching Functions and Resource Utilization Indices for the Labor Market

  Andreas Hornstein and Marianna Kudlyak

  Second Quarter 2016

  Price Dispersion When Stores Sell Multiple Goods

  Nicholas Trachter

  Second Quarter 2016

  Monetary Incentives and Mortgage Renegotiation Outcomes

  Nika Lazaryan and Urvi Neelakantan

  First Quarter 2016

  Models of Discount Window Lending: A Review

  Huberto M. Ennis

  First Quarter 2016

  Consumer Payment Choice in the Fifth District: Learning from a Retail Chain

  Zhu Wang and Alexander L. Wolman

  First Quarter 2016

  How Large Are Returns to Scale in the U.S.? A View Across the Boundary

  Thomas A. Lubik

• 2015 16
  Fourth Quarter 2015

  Monitoring Economic Activity in Real Time Using Diffusion Indices: Evidence from the Fifth District

  Santiago Pinto, Sonya Ravindranath Waddell and Pierre-Daniel G. Sarte

  Fourth Quarter 2015

  Does Bank Lending Matter for Large Firms' Investment?

  Marios Karabarbounis

  Fourth Quarter 2015

  Time-Varying Parameter Vector Autoregressions: Specification, Estimation, and an Application

  Thomas A. Lubik and Christian Matthes

  Third Quarter 2015

  Understanding Living Wills

  Arantxa Jarque and Kartik B. Athreya

  Third Quarter 2015

  What We Know About Wage Adjustment During the 2007-09 Recession and Its Aftermath

  Marianna Kudlyak

  Third Quarter 2015

  Relative Price Changes and the Optimal Inflation Rate

  Alexander L. Wolman

  Second Quarter 2015

  Essays from our Annual Reports, Part II

  John A. Weinberg

  Second Quarter 2015

  Are We Saving Enough? Households and Retirement

  Doug Campbell and John A. Weinberg

  Second Quarter 2015

  The Rise in Long-Term Unemployment: Potential Causes and Implications

  Andreas Hornstein and Thomas A. Lubik

  Second Quarter 2015

  Unsustainable Fiscal Policy: Implications for Monetary Policy

  Renee Haltom and John A. Weinberg

  Second Quarter 2015

  Land of Opportunity: Economic Mobility in the United States

  Kartik B. Athreya and Jessie Romero

  First Quarter 2015

  The Pursuit of Financial Stability: Essays from the Federal Reserve Bank of Richmond Annual Reports

  John A. Weinberg

  First Quarter 2015

  The Financial Crisis: Toward an Explanation and Policy Response

  Aaron Steelman and John A. Weinberg

  First Quarter 2015

  Systemic Risk and the Pursuit of Efficiency

  Kartik B. Athreya

  First Quarter 2015

  Should the Fed Have a Financial Stability Mandate? Lessons from the Fed's First 100 Years

  Renee Haltom and Jeffrey M. Lacker

  First Quarter 2015

  Living Wills: A Tool for Curbing Too Big to Fail

  Arantxa Jarque and David A. Price

• 2014 12
  Fourth Quarter 2014

  The Dropout Option in a Simple Model of College Education

  Ali K. Ozdagli and Nicholas Trachter

  Fourth Quarter 2014

  Loan Guarantees for Consumer Credit Markets

  Kartik B. Athreya, Xuan S. Tam and Eric R. Young

  Fourth Quarter 2014

  Optimal Institutions in Economies with Private Information: Exclusive Contracts, Taxes, and Bankruptcy Law

  Borys Grochulski and Yuzhe Zhang

  Third Quarter 2014

  The Impact of the Durbin Amendment on Merchants: A Survey Study

  Zhu Wang, Scarlett Schwartz and Neil Mitchell

  Third Quarter 2014

  How Can Consumption-Based Asset-Pricing Models Explain Low Interest Rates?

  Felipe F. Schwartzman

  Third Quarter 2014

  Should Greece Remain in the Eurozone?

  Robert L. Hetzel

  Second Quarter 2014

  The Real Bills Views of the Founders of the Fed

  Robert L. Hetzel

  Second Quarter 2014

  Large U.S. Bank Holding Companies During the 2007-09 Financial Crisis: An Overview of the Data

  Peter Debbaut and Huberto M. Ennis

  Second Quarter 2014

  Flows To and From Working Part Time for Economic Reasons and the Labor Market Aggregates During and After the 2007-09 Recession

  Maria E. Canon, Marianna Kudlyak, Guannan Luo and Marisa Reed

  First Quarter 2014

  A Business Cycle Analysis of Debt and Equity Financing

  Marios Karabarbounis, Patrick Macnamara and Roisin McCord

  First Quarter 2014

  Measuring Resource Utilization in the Labor Market

  Andreas Hornstein, Marianna Kudlyak and Fabian Lange

  First Quarter 2014

  The Financial Crisis, the Collapse of Bank Entry, and Changes in the Size Distribution of Banks

  Roisin McCord and Edward S. Prescott

• 2013 12
  Fourth Quarter 2013

  Evaluating Executive Compensation Packages

  Arantxa Jarque and John Muth

  Fourth Quarter 2013

  The Business Cycle Behavior of Working Capital

  Felipe F. Schwartzman

  Fourth Quarter 2013

  Pecuniary Externalities, Segregated Exchanges, and Market Liquidity in a Diamond-Dybvig Economy with Retrade

  Borys Grochulski

  Third Quarter 2013

  Characterizing the Unusual Path of U.S. Output During and After the Great Recession

  Jonathon Lecznar, Robert Sharp and Pierre-Daniel G. Sarte

  Third Quarter 2013

  MBS Real Estate Investment Trusts: A Primer

  Sabrina R. Pellerin, Steven Sabol and John R. Walter

  Third Quarter 2013

  Does Intra-Firm Bargaining Matter for Business Cycle Dynamics?

  Michael U. Krause and Thomas A. Lubik

  Second Quarter 2013

  The Monetarist-Keynesian Debate and the Phillips Curve: Lessons from the Great Inflation

  Robert L. Hetzel

  Second Quarter 2013

  Federal Reserve Interdistrict Settlement

  Alexander L. Wolman

  Second Quarter 2013

  Too Big to Manage? Two Book Reviews

  Edward S. Prescott

  First Quarter 2013

  Why Labor Force Participation (Usually) Increases when Unemployment Declines

  Andreas Hornstein

  First Quarter 2013

  A Cohort Model of Labor Force Participation

  Marianna Kudlyak

  First Quarter 2013

  Saving for Retirement with Job Loss Risk

  Borys Grochulski and Yuzhe Zhang

• 2012 12
  Fourth Quarter 2012

  Some Theoretical Considerations Regarding Net Asset Values for Money Market Funds

  Huberto M. Ennis

  Fourth Quarter 2012

  Debt Default and the Insurance of Labor Income Risk

  Kartik B. Athreya, Xuan S. Tam and Eric R. Young

  Fourth Quarter 2012

  Regulation and the Composition of CEO Pay

  Arantxa Jarque and Brian Gaines

  Third Quarter 2012

  Debit Card Interchange Fee Regulation: Some Assessments and Considerations

  Zhu Wang

  Third Quarter 2012

  Housing Services Price Inflation

  Marianna Kudlyak

  Third Quarter 2012

  When Do Credit Frictions Matter for Business Cycles?

  Felipe F. Schwartzman

  Second Quarter 2012

  The Performance of Non-Owner-Occupied Mortgages During the Housing Crisis

  Breck Robinson

  Second Quarter 2012

  On the Benefits of GDP-Indexed Government Debt: Lessons from a Model of Sovereign Defaults

  Juan Carlos Hatchondo and Leonardo Martinez

  Second Quarter 2012

  Does Monetarism Retain Relevance?

  Robert L. Hetzel

  First Quarter 2012

  Orderly Liquidation Authority as an Alternative to Bankruptcy

  Sabrina R. Pellerin and John R. Walter

  First Quarter 2012

  Contingent Capital: The Trigger Problem

  Edward S. Prescott

  First Quarter 2012

  Exchange Rate Volatility in a Simple Model of Firm Entry and FDI

  Thomas A. Lubik and Katheryn N. Russ

• 2011 17
  Fourth Quarter 2011

  Accounting for the Non-Employment of U.S. Men, 1968-2010

  Marianna Kudlyak, Thomas A. Lubik and Jonathan Tompkins

  Fourth Quarter 2011

  Strategic Behavior in the Tri-Party Repo Market

  Huberto M. Ennis

  Fourth Quarter 2011

  K-Core Inflation

  Alexander L. Wolman

  Fourth Quarter 2011

  The Cost of Unanticipated Household Financial Shocks: Two Examples

  Kartik B. Athreya and Urvi Neelakantan

  Third Quarter 2011

  Introduction to the Special Issue on Modern Macroeconomic Theory

  Andreas Hornstein

  Third Quarter 2011

  A Perspective on Modern Business Cycle Theory

  Nobuhiro Kiyotaki

  Third Quarter 2011

  Financial Frictions in Macroeconomic Fluctuations

  Vincenzo Quadrini

  Third Quarter 2011

  Macroeconomics with Heterogeneity: A Practical Guide

  Fatih Guvenen

  Third Quarter 2011

  Recent Developments in Economic Growth

  Diego Restuccia

  Second Quarter 2011

  Should Central Banks Raise Their Inflation Targets? Some Relevant Issues

  Bennett T. McCallum

  Second Quarter 2011

  Financial Firm Resolution Policy as a Time-Consistency Problem

  Borys Grochulski

  Second Quarter 2011

  Sectoral Disturbances and Aggregate Economic Activity

  Nadezhda Malysheva and Pierre-Daniel G. Sarte

  Second Quarter 2011

  Legal Protection to Foreign Investors

  Juan Carlos Hatchondo and Leonardo Martinez

  First Quarter 2011

  A Regional Look at the Role of House Prices and Labor Market Conditions in Mortgage Default

  Sonya Ravindranath Waddell, Anne Davlin and Edward S. Prescott

  First Quarter 2011

  Housing and the Great Recession: A VAR Accounting Exercise

  Samuel E. Henly and Alexander L. Wolman

  First Quarter 2011

  Optimal Contracts for Housing Services Purchases

  Borys Grochulski

  First Quarter 2011

  Mortgage Reform and the Countercyclical Role of the Federal Housing Administration's Mortgage Mutual Insurance Fund

  Brent C Smith

• 2010 17
  Fourth Quarter 2010

  Monetary Policy and Global Equilibria in a Production Economy

  Tim Hursey and Alexander L. Wolman

  Fourth Quarter 2010

  Hidden Effort, Learning by Doing, and Wage Dynamics

  Arantxa Jarque

  Fourth Quarter 2010

  News Shocks and Business Cycles

  Per Krusell and Alisdair McKay

  Fourth Quarter 2010

  Risk Sharing, Investment, and Incentives in the Neoclassical Growth Model

  Emilio Espino and Juan M. Sanchez

  Third Quarter 2010

  Earned Income Tax Credit Recipients: Income, Marginal Tax Rates, Wealth, and Credit Constraints

  Kartik B. Athreya, Devin Reilly and Nicole B. Simpson

  Third Quarter 2010

  Instability and Indeterminacy in a Simple Search and Matching Model

  Michael U. Krause and Thomas A. Lubik

  Third Quarter 2010

  How Large Has the Federal Financial Safety Net Become?

  Nadezhda Malysheva and John R. Walter

  Third Quarter 2010

  The Politics of Sovereign Defaults

  Juan Carlos Hatchondo and Leonardo Martinez

  Second Quarter 2010

  Inflation Measure, Taylor Rules, and the Greenspan-Bernanke Years

  Yash P. Mehra and Bansi Sawhney

  Second Quarter 2010

  Monetary Policy with Interest on Reserves

  Andreas Hornstein

  Second Quarter 2010

  Are Wages Rigid Over the Business Cycle?

  Marianna Kudlyak

  Second Quarter 2010

  Changes in Monetary Policy and the Variation in Interest Rate Changes Across Credit Markets

  Devin Reilly and Pierre-Daniel G. Sarte

  First Quarter 2010

  Introduction to the Special Issue on the Diamond-Dybvig Model

  Edward S. Prescott

  First Quarter 2010

  Bailouts

  Edward J. Green

  First Quarter 2010

  On the Fundamental Reasons for Bank Fragility

  Huberto M. Ennis and Todd Keister

  First Quarter 2010

  Inside-Money Theory after Diamond and Dybvig

  Ricardo de O. Cavalcanti

  First Quarter 2010

  Monetary Theory and Electronic Money: Reflections on the Kenyan Experience

  William Jack, Tavneet Suri and Robert Townsend

• 2009 16
  Fall 2009

  Heterogeneity in Sectoral Employment and the Business Cycle

  Nadezhda Malysheva and Pierre-Daniel G. Sarte

  Fall 2009

  Inventories and Optimal Monetary Policy

  Thomas A. Lubik and Wing Leong Teo

  Fall 2009

  Dynamic Provisioning: A Countercyclical Tool for Loan Loss Reserves.

  Eliana Balla and Andrew McKenna

  Fall 2009

  The U.S. Establishment-Size Distribution: Secular Changes and Sectoral Decomposition

  Samuel E. Henly and Juan M. Sanchez

  Summer 2009

  Distortionary Taxation for Efficient Redistribution

  Borys Grochulski

  Summer 2009

  The Behavior of Household and Business Investment over the Business Cycle

  Kausik Gangopadhyay and Juan Carlos Hatchondo

  Summer 2009

  Short-Term Headline-Core Inflation Dynamics

  Yash P. Mehra and Devin Reilly

  Summer 2009

  Why Could Political Incentives Be Different During Election Times?

  Leonardo Martinez

  Spring 2009

  Estimating a Search and Matching Model of the Aggregate Labor Market

  Thomas A. Lubik

  Spring 2009

  The Consolidation of Financial Regulation: Pros, Cons, and Implications for the United States

  Sabrina R. Pellerin, John R. Walter and Patricia Wescott

  Spring 2009

  Should Increased Regulation of Bank Risk-Taking Come from Regulators or from the Market?

  Robert L. Hetzel

  Spring 2009

  Monetary Policy in the 2008--2009 Recession

  Robert L. Hetzel

  Winter 2009

  Problems for a Fundamental Theory of House Prices

  Andreas Hornstein

  Winter 2009

  Indeterminacy from Inflation Forecast Targeting: Problem or Pseudo-Problem?

  Bennett T. McCallum

  Winter 2009

  Semiparametric Estimation of Land Price Gradients Using Large Data Sets

  Kevin A. Bryan and Pierre-Daniel G. Sarte

  Winter 2009

  Consumption Smoothing and the Measured Regressivity of Consumption Taxes

  Kartik B. Athreya and Devin Reilly

• 2008 17
  Fall 2008

  Introduction to the New Keynesian Phillips Curve

  Andreas Hornstein

  Fall 2008

  The Phillips Curve and U.S. Macroeconomic Policy: Snapshots, 1958-1996

  Robert G. King

  Fall 2008

  The New Keynesian Phillips Curve: Lessons From Single-Equation Econometric Estimation

  James M. Nason and Gregor W. Smith

  Fall 2008

  DSGE Model-Based Estimation of the New Keynesian Phillips Curve

  Frank Schorfheide

  Fall 2008

  Policy Implications of the New Keynesian Phillips Curve

  Stephanie Schmitt-Grohé and Martín Uribe

  Summer 2008

  New Keynesian Economics: A Monetary Perspective

  Stephen D. Williamson

  Summer 2008

  Nominal Frictions, Relative Price Adjustment, and the Limits to Monetary Policy

  Alexander L. Wolman

  Summer 2008

  Understanding Monetary Policy Implementation

  Huberto M. Ennis and Todd Keister

  Summer 2008

  CEO Compensation: Trends, Market Changes, and Regulation

  Arantxa Jarque

  Spring 2008

  Limits to Redistribution and Intertemporal Wedges: Implications of Pareto Optimality with Private Information

  Borys Grochulski

  Spring 2008

  On the Sources of Movements in Inflation Expectations: A Few Insights from a VAR Model

  Yash P. Mehra and Christopher Herrington

  Spring 2008

  What is the Monetary Standard, Or, How Did the Volcker-Greenspan FOMCs Tame Inflation?

  Robert L. Hetzel

  Spring 2008

  On the Evolution of Income Inequality in the United States

  Kevin A. Bryan and Leonardo Martinez

  Winter 2008

  Should Bank Supervisors Disclose Information About Their Banks?

  Edward S. Prescott

  

  Winter 2008

  Credit Access, Labor Supply, and Consumer Welfare

  Kartik B. Athreya

  Winter 2008

  Antitrust Analysis in Banking: Goals, Methods, and Justifications in a Changed Environment

  John R. Walter and Patricia E. Wescott

  Winter 2008

  A Quantitative Study of the Role of Wealth Inequality on Asset Prices

  Juan Carlos Hatchondo

• 2007 16
  Fall 2007

  Evolving Inflation Dynamics and the New Keynesian Phillips Curve

  Andreas Hornstein

  Fall 2007

  The Evolution of City Population Density in the United States

  Kevin A. Bryan, Brian D. Minton and Pierre-Daniel G. Sarte

  Fall 2007

  Currency Quality and Changes in the Behavior of Depository Institutions

  Hubert P. Janicki, Nashat F. Moin, Andrea L. Waddle and Alexander L. Wolman

  Fall 2007

  Non-Stationarity and Instability in Small Open Economy Models

  Thomas A. Lubik

  Summer 2007

  Inflation and Unemployment: A Layperson's Guide to the Phillips Curve

  Jeffrey M. Lacker and John A. Weinberg

  Summer 2007

  A Taylor Rule and the Greenspan Era

  Yash P. Mehra and Brian D. Minton

  Summer 2007

  Quantitative Models of Sovereign Default and the Threat of Financial Exclusion

  Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza

  Summer 2007

  Barriers to Foreign Direct Investment Under Political Instability

  Marina Azzimonti and Pierre-Daniel G. Sarte

  Spring 2007

  Interest on Reserves and Daylight Credit

  Huberto M. Ennis and John A. Weinberg

  Spring 2007

  How Accurate Are Real-Time Estimates of Output Trends and Gaps?

  Mark W. Watson

  Spring 2007

  The Economics of Sovereign Defaults

  Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza

  Spring 2007

  Banks and Liquidity Creation: A Simple Exposition of the Diamond-Dybvig Model

  Douglas W. Diamond

  Winter 2007

  The Contributions of Milton Friedman to Economics

  Robert L. Hetzel

  Winter 2007

  Implications of Some Alternatives to Capital Income Taxation

  Kartik B. Athreya and Andrea L. Waddle

  Winter 2007

  Exchange Rates and Business Cycles Across Countries

  Margarida Duarte, Diego Restuccia and Andrea L. Waddle

  Winter 2007

  Optimal Nonlinear Income Taxation with Costly Tax Avoidance

  Borys Grochulski

• 2006 15
  Fall 2006

  Changes in the Size Distribution of U. S. Banks: 1960 - 2005

  Hubert P. Janicki and Edward S. Prescott

  Fall 2006

  Bond Price Premiums

  Alexander L. Wolman

  Fall 2006

  Stark Optimal Fiscal Policies and Sovereign Lending

  Pierre-Daniel G. Sarte

  Fall 2006

  Not Your Father's Credit Union

  John R. Walter

  Summer 2006

  Borrowing by U.S. Households

  John A. Weinberg

  Summer 2006

  The Productivity of Nations

  Margarida Duarte and Diego Restuccia

  Summer 2006

  Inflation Uncertainty and the Recent Low Level of the Long Bond Rate

  Yash P. Mehra

  Summer 2006

  Making the Systematic Part of Monetary Policy Transparent

  Robert L. Hetzel

  Spring 2006

  The Problem of Small Change in Early Argentina

  Huberto M. Ennis

  Spring 2006

  Implementation of Optimal Monetary Policy

  Michael Dotsey and Andreas Hornstein

  Spring 2006

  Can Feedback from the Jumbo CD Market Improve Bank Surveillance?

  R. Alton Gilbert, Andrew P. Meyer and Mark D. Vaughan

  Winter 2006

  Discretionary Policy and Multiple Equilibria

  Robert G. King

  Winter 2006

  Credit Exclusion in Quantitative Models of Bankruptcy: Does It Matter?

  Kartik B. Athreya and Hubert P. Janicki

  Winter 2006

  The 3-6-3 Rule: An Urban Myth?

  John R. Walter

  Winter 2006

  Are We Working Too Hard or Should We Be Working Harder? A Simple Model of Career Concerns

  Andrew Foerster and Leonardo Martinez

• 2005 15
  Fall 2005

  Monetary Policy and the Term Structure of Interest Rates

  Bennett T. McCallum

  Fall 2005

  How Well Do Diffusion Indexes Capture Business Cycles? A Spectral Analysis

  Raymond E. Owens III and Pierre-Daniel G. Sarte

  Fall 2005

  Technological Design and Moral Hazard

  Edward S. Prescott

  Fall 2005

  Trend Inflation, Firm-Specific Capital, and Sticky Prices

  Andreas Hornstein and Alexander L. Wolman

  Summer 2005

  What's Driving Wage Inequality?

  Aaron Steelman and John A. Weinberg

  Summer 2005

  Unemployment and Vacancy Fluctuations in the Matching Model: Inspecting the Mechanism

  Andreas Hornstein, Per Krusell and Giovanni L. Violante

  Summer 2005

  Oil Prices and Consumer Spending

  Yash P. Mehra and Jon D. Petersen

  Spring 2005

  Limited Participation and the Neutrality of Money

  Stephen D. Williamson

  Spring 2005

  Bank Risk of Failure and the Too-Big-to-Fail Policy

  Huberto M. Ennis and H. S. Malek

  Spring 2005

  What Difference Would an Inflation Target Make?

  Robert L. Hetzel

  Spring 2005

  Equilibrium Models of Personal Bankruptcy: A Survey

  Kartik B. Athreya

  Winter 2005

  Inflation and Changing Expenditure Shares

  Alexander L. Wolman and Fan Ding

  Winter 2005

  On the Aggregate Labor Supply

  Yongsung Chang and Sun-Bin Kim

  Winter 2005

  Depression-Era Bank Failures: The Great Contagion or the Great Shakeout?

  John R. Walter

  Winter 2005

  Banking Markets in a Decade of Mergers: A Preliminary Examination of Five North Carolina Markets

  John A. Weinberg

• 2004 18
  Fall 2004

  Tom Humphrey: An Appreciation

  John A. Weinberg

  Fall 2004

  Ricardo versus Wicksell on Job Losses and Technological Change

  Thomas M. Humphrey

  Fall 2004

  (Un)Balanced Growth

  Andreas Hornstein

  Fall 2004

  Auditing and Bank Capital Regulation

  Edward S. Prescott

  Fall 2004

  Using Manufacturing Surveys to Assess Economic Conditions

  Matthew Harris, Raymond E. Owens III and Pierre-Daniel G. Sarte

  Summer 2004

  Editor's Note

  John A. Weinberg

  Summer 2004

  Sustaining Price Stability

  J. Alfred Broaddus, Jr. and Marvin Goodfriend

  Summer 2004

  Monetary Policy in the New Neoclassical Synthesis: A Primer

  Marvin Goodfriend

  Summer 2004

  How Do Central Banks Control Inflation?

  Robert L. Hetzel

  Summer 2004

  Predicting the Recent Behavior of Inflation Using Output Gap-Based Phillips Curves

  Yash P. Mehra

  Spring 2004

  Shame As It Ever Was: Stigma and Personal Bankruptcy

  Kartik B. Athreya

  Spring 2004

  Monetary Policy and the Adjustment to Country-Specific Shocks

  Margarida Duarte

  Spring 2004

  Some Recent Trends in Commercial Banking

  Huberto M. Ennis

  Spring 2004

  Which Price Index Should a Central Bank Employ?

  Roy H. Webb

  Winter 2004

  Macroeconomic Principles and Monetary Policy

  J. Alfred Broaddus, Jr.

  Winter 2004

  Classical Deflation Theory

  Thomas M. Humphrey

  Winter 2004

  Accommodating Rising Population in Rural Areas: The Case of Loudoun County, Virginia

  Raymond E. Owens III and Pierre-Daniel G. Sarte

  Winter 2004

  Closing Troubled Banks: How the Process Works

  John R. Walter

• 2003 16
  Fall 2003

  Boom and Bust in Telecommunications

  Elise A. Couper, John P. Hejkal and Alexander L. Wolman

  Fall 2003

  Why Does Consumer Sentiment Predict Household Spending?

  Yash P. Mehra and Elliot W. Martin

  Fall 2003

  Implications of the Capital-Embodiment Revolution for Directed R&D and Wage Inequality

  Andreas Hornstein and Per Krusell

  Fall 2003

  Firms, Assignments, and Earnings

  Edward S. Prescott

  Summer 2003

  Accounting for Corporate Behavior

  John A. Weinberg

  Summer 2003

  Japanese Monetary Policy and Deflation

  Robert L. Hetzel

  Summer 2003

  The Euro and Inflation Divergence in Europe

  Margarida Duarte

  Summer 2003

  How Did Leading Indicator Forecasts Perform During the 2001 Recession?

  James H. Stock and Mark W. Watson

  Spring 2003

  Economic Fundamentals and Bank Runs

  Huberto M. Ennis

  Spring 2003

  Monetary Policy in a Low Inflation Environment

  J. Alfred Broaddus, Jr.

  Spring 2003

  Unemployment Insurance and Personal Bankruptcy

  Kartik B. Athreya

  Spring 2003

  Banking and Commerce: Tear Down This Wall?

  John R. Walter

  Winter 2003

  Japanese Monetary Policy, 1991-2001

  Bennett T. McCallum

  Winter 2003

  Efficient Public Investment in a Model with Transition Dynamics

  Pierre-Daniel G. Sarte and Jorge Soares

  Winter 2003

  Potential Consequences of Linear Approximation in Economics

  Alexander L. Wolman and Elise A. Couper

  Winter 2003

  The Cyclical Behavior of Prices and Employee Compensation

  Roy H. Webb

• 2002 16
  Fall 2002

  The Phases of U.S. Monetary Policy: 1987 to 2001

  Marvin Goodfriend

  Fall 2002

  Competition Among Bank Regulators

  John A. Weinberg

  Fall 2002

  Structure From Shocks

  Michael Dotsey

  Fall 2002

  Expectations and the Term Structure of Interest Rates: Evidence and Implications

  Robert G. King and André Kurmann

  Summer 2002

  The Economics of Financial Privacy: To Opt Out or Opt In?

  Jeffrey M. Lacker

  Summer 2002

  Survey Measures of Expected Inflation: Revisiting the Issues of Predictive Content and Rationality

  Yash P. Mehra

  Summer 2002

  Private Money and Counterfeiting

  Stephen D. Williamson

  Summer 2002

  Knut Wicksell and Gustav Cassel on the Cumulative Process and the Price-Stabilizing Policy Rule

  Thomas M. Humphrey

  Spring 2002

  What Can Price Theory Say about the Community Reinvestment Act?

  John R. Walter and Robert L. Lacy

  Spring 2002

  German Monetary History in the Second Half of the Twentieth Century: From the Deutsche Mark to the Euro

  Robert L. Hetzel

  Spring 2002

  Towards a Theory of Capacity Utilization: Shiftwork and the Workweek of Capital

  Andreas Hornstein

  Spring 2002

  Can Risk-Based Deposit Insurance Premiums Control Moral Hazard?

  Edward S. Prescott

  Winter 2002

  German Monetary History in the First Half of the Twentieth Century

  Robert L. Hetzel

  Winter 2002

  Pitfalls in Interpreting Tests of Backward-Looking Pricing in New Keynesian Models

  Michael Dotsey

  Winter 2002

  Imperfect Competition and the Pricing of Interbank Payment Services

  John A. Weinberg

  Winter 2002

  Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

  Bennett T. McCallum

• 2001 18
  Fall 2001

  On the Size Distribution of Banks

  Huberto M. Ennis

  Fall 2001

  A Primer on Optimal Monetary Policy with Staggered Price-Setting

  Alexander L. Wolman

  Fall 2001

  Should Banks Be Recapitalized?

  Douglas W. Diamond

  Fall 2001

  International Pricing in New Open-Economy Models

  Margarida Duarte

  Summer 2001

  Transparency in the Practice of Monetary Policy

  J. Alfred Broaddus, Jr.

  Summer 2001

  The Growth of Unsecured Credit: Are We Better Off?

  Kartik B. Athreya

  Summer 2001

  Regulating Bank Capital Structure to Control Risk

  Edward S. Prescott

  Summer 2001

  Consumption, Savings, and the Meaning of the Wealth Effect in General Equilibrium

  Carl D. Lantz and Pierre-Daniel G. Sarte

  Spring 2001

  To Forgive or Not to Forgive: An Analysis of U.S. Consumer Bankruptcy Choices

  Wenli Li

  Spring 2001

  Optimal Taxation in Infinitely-Lived Agent and Overlapping Generations Models: A Review

  Martin Gervais and Andrés Erosa

  Spring 2001

  The Wealth Effect in Empirical Life-Cycle Aggregate Consumption Equations

  Yash P. Mehra

  Spring 2001

  Using the Federal Funds Futures Market to Predict Monetary Policy Actions

  Raymond E. Owens III and Roy H. Webb

  Winter 2001

  Introduction to Special Issue

  Jeffrey M. Lacker

  Winter 2001

  What Assets Should the Federal Reserve Buy?

  Marvin Goodfriend and J. Alfred Broaddus, Jr.

  Winter 2001

  Why We Need an "Accord" for Federal Reserve Credit Policy: A Note

  Marvin Goodfriend

  Winter 2001

  The Treasury-Fed Accord: A New Narrative Account

  Robert L. Hetzel and Ralph F. Leach

  Winter 2001

  After the Accord: Reminiscences on the Birth of the Modern Fed

  Robert L. Hetzel and Ralph F. Leach

  Winter 2001

  Monetary Policy Frameworks and Indicators for the Federal Reserve in the 1920s

  Thomas M. Humphrey

• 2000 13
  Fall 2000

  The Frequency and Costs of Individual Price Adjustment

  Alexander L. Wolman

  Fall 2000

  Is Money Useful in the Conduct of Monetary Policy?

  Lawrence Santucci, Michael Dotsey and Carl D. Lantz

  Fall 2000

  The IT Revolution: Is It Evident in the Productivity Numbers?

  Per Krusell and Andreas Hornstein

  Summer 2000

  A Study of U.S. Employment Rates with Emphasis on Gender Considerations

  Pierre-Daniel G. Sarte and Carl D. Lantz

  Summer 2000

  Wage-Price Dynamics: Are They Consistent with Cost Push?

  Yash P. Mehra

  Summer 2000

  The New IS-LM Model: Language, Logic, and Limits

  Robert G. King

  Spring 2000

  The Taylor Rule: Is It a Useful Guide to Understanding Monetary Policy?

  Robert L. Hetzel

  Spring 2000

  How the Asian Crisis Affected the World Economy: A General Equilibrium Perspective

  Wenli Li, Xinshen Diao and Erinc Yeldan

  Spring 2000

  Benjamin Strong, the Federal Reserve, and the Limits to Interwar American Nationalism Part I: Intellectual Profile of a Central Banker Part II: Strong and the Federal Reserve System in the 1920s

  Priscilla Roberts

  Winter 2000

  Current Challenges for U.S. Monetary Policy

  J. Alfred Broaddus, Jr.

  Winter 2000

  The Role of a Regional Bank in a System of Central Banks

  Marvin Goodfriend

  Winter 2000

  The Business Cycle and Industry Comovement

  Andreas Hornstein

  Winter 2000

  Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan

  Bennett T. McCallum

• 1999 15
  Fall 1999

  Limited Commitment and Central Bank Lending

  Marvin Goodfriend and Jeffrey M. Lacker

  Fall 1999

  Sticky Prices, Marginal Cost, and the Behavior of Inflation

  Alexander L. Wolman

  Fall 1999

  Means of Payment, the Unbanked, and EFT '99

  Edward S. Prescott and Daniel D. Tatar

  Fall 1999

  Explaining the Increased Variability in Long-Term Interest Rates

  Mark W. Watson

  Summer 1999

  Growth Accounting with Technological Revolutions

  Andreas Hornstein

  Summer 1999

  Two Approaches to Macroeconomic Forecasting

  Roy H. Webb

  Summer 1999

  An Empirical Investigation of Fluctuations in Manufacturing

  Pierre-Daniel G. Sarte

  Summer 1999

  The Importance of Systematic Monetary Policy for Economic Activity

  Michael Dotsey

  Spring 1999

  The Fed's Entry into Check Clearing Reconsidered

  Jeffrey D. Walker, Jeffrey M. Lacker and John A. Weinberg

  Spring 1999

  A Forward-Looking Monetary Policy Reaction Function

  Yash P. Mehra

  Spring 1999

  Mercantilists and Classicals: Insights from Doctrinal History

  Thomas M. Humphrey

  Winter 1999

  Japanese Monetary Policy: A Quantity Theory Perspective

  Robert L. Hetzel

  Winter 1999

  Pooling or Purchase: A Merger Mystery

  John R. Walter

  Winter 1999

  A Primer on Moral-Hazard Models

  Edward S. Prescott

  Winter 1999

  Gauging Manufacturing Activity: The Federal Reserve Bank of Richmond's Survey of Manufacturers

  Robert L. Lacy

• 1998 14
  Fall 1998

  Staggered Price Setting and the Zero Bound on Nominal Interest Rates

  Alexander L. Wolman

  Fall 1998

  Government Loan, Guarantee, and Grant Programs: An Evaluation

  Wenli Li

  Fall 1998

  Fisher's Equation and the Inflation Risk Premium in a Simple Endowment Economy

  Pierre-Daniel G. Sarte

  Summer 1998

  The Bank Merger Wave: Causes and Consequences

  J. Alfred Broaddus, Jr.

  Summer 1998

  Using the Term Structure of Interest Rates for Monetary Policy

  Marvin Goodfriend

  Summer 1998

  The Predictive Content of the Interest Rate Term Spread for Future Economic Growth

  Michael Dotsey

  Summer 1998

  Historical Origins of the Cost-Push Fallacy

  Thomas M. Humphrey

  Spring 1998

  Can the Fed be a Payment System Innovator?

  Jeffrey M. Lacker and John A. Weinberg

  Spring 1998

  The Bond Rate and Actual Future Inflation

  Yash P. Mehra

  Spring 1998

  Inventory Investment and the Business Cycle

  Andreas Hornstein

  Spring 1998

  New Evidence Connecting Exchange Rates to Business Cycles

  Alan C. Stockman

  Winter 1998

  Can a Safety Net Subsidy Be Contained?

  John R. Walter

  Winter 1998

  Arthur Burns and Inflation

  Robert L. Hetzel

  Winter 1998

  National Productivity Statistics

  Roy H. Webb

• 1997 15
  Fall 1997

  Zero Inflation and the Friedman Rule: A Welfare Comparison

  Alexander L. Wolman

  Fall 1997

  Group Lending and Financial Intermediation: An Example

  Edward S. Prescott

  Fall 1997

  Investing in Equities: Can it Help Social Security?

  Michael Dotsey

  Fall 1997

  Fisher and Wicksell on the Quantity Theory

  Thomas M. Humphrey

  Summer 1997

  The Check Float Puzzle

  Jeffrey M. Lacker

  Summer 1997

  A Review of the Recent Behavior of M2 Demand

  Yash P. Mehra

  Summer 1997

  On the Identification of Structural Vector Autoregressions

  Pierre-Daniel G. Sarte

  Summer 1997

  Testing Long-Run Neutrality

  Mark W. Watson and Robert G. King

  Spring 1997

  John Maynard Keynes

  Milton Friedman

  Spring 1997

  The Organization of Private Payment Networks

  John A. Weinberg

  Spring 1997

  The Case for a Monetary Rule in a Constitutional Democracy

  Robert L. Hetzel

  Spring 1997

  Tax Disincentives to Commercial Bank Lending

  Anatoli Kuprianov

  Winter 1997

  Algebraic Production Functions and Their Uses Before Cobb-Douglas

  Thomas M. Humphrey

  Winter 1997

  The Pre-Commitment Approach in a Model of Regulatory Banking Capital

  Edward S. Prescott

  Winter 1997

  Monetary Policy Comes of Age: A 20th Century Odyssey

  Marvin Goodfriend

• 1996 15
  Fall 1996

  Central Banking in a Democracy

  Alan S. Blinder

  Fall 1996

  Some Not-So-Unpleasant Monetarist Arithmetic

  Michael Dotsey

  Fall 1996

  Firewalls

  John R. Walter

  Fall 1996

  Neoclassical vs. Endogenous Growth Analysis: An Overview

  Bennett T. McCallum

  Summer 1996

  Stored Value Cards: Costly Private Substitutes for Government Currency

  Jeffrey M. Lacker

  Summer 1996

  Monetary Policy and Long-Term Interest Rates

  Yash P. Mehra

  Summer 1996

  Financial Intermediation as Delegated Monitoring: A Simple Example

  Douglas W. Diamond

  Summer 1996

  A Theory of the Capacity Utilization/Inflation Relationship

  Mary G. Finn

  Spring 1996

  Sterilized Foreign Exchange Intervention: The Fed Debate in the 1960s

  Robert L. Hetzel

  Spring 1996

  Tie-in Sales and Banks

  John A. Weinberg

  Spring 1996

  Limits on Interest Rate Rules in the IS Model

  Robert G. King and William Kerr

  Spring 1996

  The Economics of Electronic Benefit Transfer Payments

  David B. Humphrey

  Winter 1996

  Foreign Exchange Operations and the Federal Reserve

  Marvin Goodfriend and J. Alfred Broaddus, Jr.

  Winter 1996

  The Early History of the Box Diagram

  Thomas M. Humphrey

  Winter 1996

  Long-Term Interest Rates and Inflation: A Fisherian Approach

  Peter N. Ireland

• 1995 16
  Fall 1995

  Derivatives Debacles: Case Studies of Large Losses in Derivatives Markets

  Anatoli Kuprianov

  Fall 1995

  Was the Disinflation of the Early 1980s Anticipated?

  Jed L. DeVaro and Michael Dotsey

  Fall 1995

  The Fair Lending Laws and Their Enforcement

  John R. Walter

  Fall 1995

  The Increasing-Returns-to-Scale/Sticky-Price Approach to Monetary Analysis

  Mary G. Finn

  Summer 1995

  Cycles in Lending Standards?

  John A. Weinberg

  Summer 1995

  Quantitative Theory and Econometrics

  Robert G. King

  Summer 1995

  Errors in Variables and Lending Discrimination

  Jed L. DeVaro and Jeffrey M. Lacker

  Summer 1995

  Some Key Empirical Determinants of Short-Term Nominal Interest Rates

  Yash P. Mehra

  Spring 1995

  Reflections on Monetary Policy

  J. Alfred Broaddus, Jr.

  Spring 1995

  Neighborhoods and Banking

  Jeffrey M. Lacker

  Spring 1995

  When Geometry Emerged: Some Neglected Early Contributions to Offer-Curve Analysis

  Thomas M. Humphrey

  Spring 1995

  An Index of Leading Indicators for Inflation

  Roy H. Webb and Tazewell S. Rowe

  Winter 1995

  Is "High" Capacity Utilization Inflationary?

  Mary G. Finn

  Winter 1995

  An Empirical Measure of the Real Rate of Interest

  Robert M. Darin and Robert L. Hetzel

  Winter 1995

  Using the Permanent Income Hypothesis for Forecasting

  Peter N. Ireland

  Winter 1995

  The Rational Expectations Hypothesis of the Term Structure, Monetary Policy, and Time-Varying Term Premia

  Michael Dotsey and Christopher Otrok

• 1994 16
  Fall 1994

  Selling Federal Reserve Payment Services: One Price Fits All?

  John A. Weinberg

  Fall 1994

  Were Bank Examiners Too Strict with New England and California Banks?

  John R. Walter and Robert M. Darin

  Fall 1994

  An Error-Correction Model of the Long-Term Bond Rate

  Yash P. Mehra

  Fall 1994

  Medical Care Price Indexes

  Robert F. Graboyes

  Summer 1994

  Short-Run Effects of Money When Some Prices Are Sticky

  Lee E. Ohanian and Alan C. Stockman

  Summer 1994

  A Shift-Adjusted M2 Indicator for Monetary Policy

  Robert M. Darin and Robert L. Hetzel

  Summer 1994

  The Role of Interest Rate Swaps in Corporate Finance

  Anatoli Kuprianov

  Summer 1994

  John Wheatley's Theory of International Monetary Adjustment

  Thomas M. Humphrey

  Spring 1994

  Choices in Banking Policy

  J. Alfred Broaddus, Jr.

  Spring 1994

  Corporate Capital Structure: The Control Roles of Bank and Public Debt with Taxes and Costly Bankruptcy

  Douglas W. Diamond

  Spring 1994

  The Free Trade Debate: The Illusion of Security Versus Growth

  Robert L. Hetzel

  Spring 1994

  Delivering Deposit Services: ATMs Versus Branches

  David B. Humphrey

  Winter 1994

  Two Perspectives on Growth and Taxes

  Peter N. Ireland

  Winter 1994

  Firm Size, Finance, and Investment

  John A. Weinberg

  Winter 1994

  M2 and Monetary Policy: A Critical Review of the Recent Debate

  Michael Dotsey

  Winter 1994

  Does Adverse Selection Justify Government Intervention in Loan Markets?

  Jeffrey M. Lacker

• 1993 16
  Fall 1993

  The Origins of Velocity Functions

  Thomas M. Humphrey

  Fall 1993

  Public Investment and Economic Growth

  William E. Cullison

  Fall 1993

  Unit Labor Costs and the Price Level

  Yash P. Mehra

  Fall 1993

  Is All Government Capital Productive?

  Mary G. Finn

  Summer 1993

  Irving Fisher and His Compensated Dollar Plan

  Don Patinkin

  Summer 1993

  A Quantity Theory Framework for Monetary Policy

  Robert L. Hetzel

  Summer 1993

  Credit Aggregates from the Flow of Funds Accounts

  Milton P. Reid, III and Stacey L. Schreft

  Summer 1993

  Over-the-Counter Interest Rate Derivatives

  Anatoli Kuprianov

  Spring 1993

  Central Banking: Then and Now

  J. Alfred Broaddus, Jr.

  Spring 1993

  Unit Roots in Macroeconomic Time Series: Some Critical Issues

  Bennett T. McCallum

  Spring 1993

  Commercial Paper

  Thomas K. Hahn

  Spring 1993

  Personal Saving Behavior and Real Economic Activity

  Roy H. Webb

  Winter 1993

  Price Stability Under Long-Run Monetary Targeting

  Peter N. Ireland

  Winter 1993

  Interest Rate Policy and the Inflation Scare Problem: 1979-1992

  Marvin Goodfriend

  Winter 1993

  Bankers Acceptances

  Robert K. LaRoche

  Winter 1993

  Should We Subsidize the Use of Currency?

  Jeffrey M. Lacker

Economic Review

This bi-monthly journal is no longer published and has been replaced by Economic Quarterly. Back issues from 1974 to 1992 are available under the tabs below.

• 1992 13
  Nov/Dec, 1992

  Forecasting the Effects of Reduced Defense Spending

  Peter N. Ireland and Christopher Otrok

  Nov/Dec, 1992

  A Simple Model of Irving Fisher's Price-Level Stabilization Rule

  Thomas M. Humphrey

  Nov/Dec, 1992

  Money Market Futures

  Anatoli Kuprianov

  Sep/Oct, 1992

  Behind the Money Market: Clearing and Settling Money Market Instruments

  David L. Mengle

  Sep/Oct, 1992

  How Useful Is M2 Today?

  Robert L. Hetzel

  Sep/Oct, 1992

  Has M2 Demand Become Unstable?

  Yash P. Mehra

  Jul/Aug, 1992

  The Case of the Reluctant Recovery

  William E. Cullison

  Jul/Aug, 1992

  Oil Shocks, Monetary Policy, and Economic Activity

  Michael Dotsey and Max Reid

  May/Jun, 1992

  Credit Rationing by Loan Size in Commercial Loan Markets

  Stacey L. Schreft and Anne P. Villamil

  May/Jun, 1992

  In Search of a Stable, Short-Run M1 Demand Function

  Yash P. Mehra

  Mar/Apr, 1992

  Marshallian Cross Diagrams and Their Uses before Alfred Marshall

  Thomas M. Humphrey

  Jan/Feb, 1992

  Evidence of Improved Inventory Control

  Dan M. Bechter and Stephen Stanley

  Jan/Feb, 1992

  Indexed Bonds as an Aid to Monetary Policy

  Robert L. Hetzel

• 1991 16
  Nov/Dec, 1991

  Too Big to Fail: Origins, Consequences, and Outlook

  Robert L. Hetzel

  Nov/Dec, 1991

  Financial Evolution and the Long-Run Behavior of Velocity

  Peter N. Ireland

  Sep/Oct, 1991

  The Reaction of Interest Rates to the Employment Report

  Timothy Q. Cook and Steven Korn

  Sep/Oct, 1991

  Monetary Policy and Operating Procedures in New Zealand

  Michael Dotsey

  Sep/Oct, 1991

  International Trade and Payments Data: An Introduction

  Robert F. Graboyes

  Jul/Aug, 1991

  Why Is There Debt?

  Jeffrey M. Lacker

  Jul/Aug, 1991

  Loan Loss Reserves

  John R. Walter

  May/Jun, 1991

  An Error-Correction Model of U.S. M2 Demand

  Yash P. Mehra

  May/Jun, 1991

  A Total Production Index for Washington, D.C.

  Dan M. Bechter, Zoltan Kenessey, Fred Siegmund and Ray D. Whitman

  May/Jun, 1991

  The Stealth Budget: Unfunded Liabilities of the Federal Government

  Roy H. Webb

  Mar/Apr, 1991

  Nonneutrality of Money in Classical Monetary Thought

  Thomas M. Humphrey

  Mar/Apr, 1991

  Survey Evidence of Tighter Credit Conditions: What Does It Mean?

  Raymond E. Owens III and Stacey L. Schreft

  Mar/Apr, 1991

  Productivity in Banking and Effects from Deregulation

  David B. Humphrey

  Jan/Feb, 1991

  Reflections on Deposit Insurance

  Robert P. Black

  Jan/Feb, 1991

  Money, Credit, Banking, and Payments System Policy

  Marvin Goodfriend

  Jan/Feb, 1991

  A Reserve Bank for Richmond

  James Parthemos

• 1990 21
  Nov/Dec, 1990

  The Case for Interstate Branch Banking

  David L. Mengle

  Nov/Dec, 1990

  Ricardo Versus Thornton on the Appropriate Monetary Response to Supply Shocks

  Thomas M. Humphrey

  Nov/Dec, 1990

  Credit Controls: 1980

  Stacey L. Schreft

  Sep/Oct, 1990

  Interest Rate Expectations and the Slope of the Money Market Yield Curve

  Timothy Q. Cook and Thomas K. Hahn

  Sep/Oct, 1990

  The Macroeconomic Effects of Government Spending

  Ching-Sheng Mao

  Sep/Oct, 1990

  Why do Estimates of Bank Scale Economies Differ?

  David B. Humphrey

  Jul/Aug, 1990

  Reflections on the Strategy of Monetary Policy

  Robert P. Black

  Jul/Aug, 1990

  The EMU: Forerunners and Durability

  Robert F. Graboyes

  Jul/Aug, 1990

  A Yankee Recipe for a EuroFed Omelet

  Robert F. Graboyes

  Jul/Aug, 1990

  Fifth District Bank Performance 1989

  John R. Walter and Donald L. Welker

  Jul/Aug, 1990

  Real Output and Unit Labor Costs as Predictors of Inflation

  Yash P. Mehra

  May/Jun, 1990

  Fisherian and Wicksellian Price-Stabilization Models in the History of Monetary Thought

  Thomas M. Humphrey

  May/Jun, 1990

  Free Enterprise and Central Banking in Formerly Communist Countries

  Robert L. Hetzel

  May/Jun, 1990

  Is Saving Too Low in the United States?

  William E. Cullison

  Mar/Apr, 1990

  Reforming Deposit Insurance: Lessons from the Savings and Loan Crisis

  Michael Dotsey and Anatoli Kuprianov

  Mar/Apr, 1990

  Takeovers and Stock Price Volatility

  Jeffrey M. Lacker and John A. Weinberg

  Mar/Apr, 1990

  A Mandate for Price Stability

  Robert L. Hetzel

  Mar/Apr, 1990

  Maintaining Price Stability: A Proposal

  Robert L. Hetzel

  Jan/Feb, 1990

  In Support of Price Stability

  Robert P. Black

  Jan/Feb, 1990

  The Federal Reserve Bank of Richmond: Governor Seay and the Issues of the Early Years

  James Parthemos

  Jan/Feb, 1990

  The Lender of Last Resort: Alternative Views and Historical Experience

  Michael D. Bordo

• 1989 19
  Nov/Dec, 1989

  Estimating Intertemporal Elasticity of Substitution

  Ching-Sheng Mao

  Nov/Dec, 1989

  Labor Market Data

  Roy H. Webb and William Whelpley

  Nov/Dec, 1989

  Top Performing Small Banks: Making Money the Old-Fashioned Way

  Benton E. Gup and John R. Walter

  Sep/Oct, 1989

  Some Further Results on the Source of Shift in M1 Demand in the 1980s

  Yash P. Mehra

  Sep/Oct, 1989

  M2 and Monetary Policy

  Robert L. Hetzel

  Sep/Oct, 1989

  The Changing Labor Force: Some Provocative Findings

  William E. Cullison

  Sep/Oct, 1989

  Changes in Manufacturing Employment in North Carolina Counties, 1980-85

  Christine Chmura and Jane Ihrig

  Jul/Aug, 1989

  Precursors of the P-Star Model

  Thomas M. Humphrey

  Jul/Aug, 1989

  The U.S. Productivity Slowdown: What the Experts Say

  William E. Cullison

  Jul/Aug, 1989

  Macroeconomic Price Indexes

  Roy H. Webb and Rob Willemse

  May/Jun, 1989

  The Future of Deposit Insurance: An Analysis of the Alternatives

  Anatoli Kuprianov and David L. Mengle

  May/Jun, 1989

  Fifth District Banks' Return on Assets: Highest in Decade

  John R. Walter and Donald L. Welker

  May/Jun, 1989

  Market Responses to Pricing Fedwire Daylight Overdrafts

  David B. Humphrey

  Mar/Apr, 1989

  Banking Under Changing Rules: The Fifth District Since 1970

  David L. Mengle

  Mar/Apr, 1989

  Lender of Last Resort: The Concept in History

  Thomas M. Humphrey

  Mar/Apr, 1989

  Improving America's Competitiveness

  H. Robert Heller

  Mar/Apr, 1989

  An Examination of International Trade Data in the 1980s

  Michael Dotsey

  Jan/Feb, 1989

  Determinants of the Federal Funds Rate: 1979-1982

  Timothy Q. Cook

  Jan/Feb, 1989

  Monetary Aggregates: A User's Guide

  John R. Walter

• 1988 16
  Nov/Dec, 1988

  Commodity Prices as Predictors of Aggregate Price Change

  Roy H. Webb

  Nov/Dec, 1988

  SIC: Switzerland's New Electronic Interbank Payment System

  David L. Mengle and Christian Vital

  Nov/Dec, 1988

  International Risk-Based Capital Standard: History and Explanation

  Malcolm C. Alfriend

  Sep/Oct, 1988

  Rival Notions of Money

  Thomas M. Humphrey

  Sep/Oct, 1988

  The Forecast Performance of Alternative Models of Inflation

  Yash P. Mehra

  Sep/Oct, 1988

  The Monetary Responsibilities of a Central Bank

  Robert L. Hetzel

  Jul/Aug, 1988

  On Recognizing Inflation

  William E. Cullison

  Jul/Aug, 1988

  A Review of Bank Performance in the Fifth District, 1987

  David L. Mengle and John R. Walter

  Jul/Aug, 1988

  The Federal Reserve Act of 1913 in the Stream of U.S. Monetary History

  James Parthemos

  May/Jun, 1988

  Financial Deregulation, Monetary Policy, and Central Banking

  Marvin Goodfriend and Robert G. King

  May/Jun, 1988

  Fifth District Indexes of Manufacturing Output

  Dan M. Bechter, Christine Chmura and Richard K. Ko

  Mar/Apr, 1988

  Rational Expectations Business Cycle Models: A Survey

  Michael Dotsey and Robert G. King

  Mar/Apr, 1988

  Electronic Payments in Retrospect

  Bruce J. Summers

  Jan/Feb, 1988

  Agricultural Summary and Outlook

  Raymond E. Owens III

  Jan/Feb, 1988

  The Trade Theorist's Sacred Diagram: Its Origin and Early Development

  Thomas M. Humphrey

  Jan/Feb, 1988

  Theoretical Analysis of the Demand for Money

  Marvin Goodfriend and Bennett T. McCallum

• 1987 18
  Nov/Dec, 1987

  The Irrelevance of Tests for Bias in Series of Macroeconomic Forecasts

  Roy H. Webb

  Nov/Dec, 1987

  Money Growth Volatility and High Nominal Interest Rates

  Yash P. Mehra

  Sep/Oct, 1987

  The Fed's Anti-Inflationary Strategy: Is it Adequate?

  Robert P. Black

  Sep/Oct, 1987

  The Case for Rules in the Conduct of Monetary Policy: A Concrete Example

  Bennett T. McCallum

  Sep/Oct, 1987

  The Australian Money Market and the Operations of the Reserve Bank of Australia

  Michael Dotsey

  Jul/Aug, 1987

  Henry Thornton: Seminal Monetary Theorist and Father of the Modern Central Bank

  Robert L. Hetzel

  Jul/Aug, 1987

  Classical and Neoclassical Roots of The Theory of Optimum Tariffs

  Thomas M. Humphrey

  Jul/Aug, 1987

  A Review of Bank Performance in the Fifth District, 1986

  David L. Mengle and John R. Walter

  May/Jun, 1987

  Swiss and United States Monetary Policy: Has Monetarism Failed?

  George Rich

  May/Jun, 1987

  The Effect of Exchange Rate Variation on U.S. Textile and Apparel Imports

  Christine Chmura

  May/Jun, 1987

  Cost Dispersion and the Measurement of Economies in Banking

  David B. Humphrey

  May/Jun, 1987

  An Overview of Agricultural Policy . . . Past, Present, and Future

  Raymond E. Owens III

  Mar/Apr, 1987

  The Theory of Multiple Expansion of Deposits: Why it is and Whence it Came

  Thomas M. Humphrey

  Mar/Apr, 1987

  The Equilibrium Approach to Exchange Rates

  Alan C. Stockman

  Mar/Apr, 1987

  IPC or Total Deposits? There Is a Difference!

  Donald L. Welker

  Jan/Feb, 1987

  Intraday Credit: Risk, Value, and Pricing

  David B. Humphrey, David L. Mengle and Bruce J. Summers

  Jan/Feb, 1987

  Repurchase and Reverse Repurchase Agreements

  Stephen A. Lumpkin

  Jan/Feb, 1987

  The Agricultural Outlook for 1987 . . . Financial Turnaround Unlikely

  Raymond E. Owens III

• 1986 18
  Nov/Dec, 1986

  Options on Short-Term Interest Rate Futures

  Anatoli Kuprianov

  Jan/Feb, 1986

  Japanese Monetary Policy, A Comparative Analysis

  Michael Dotsey

  Nov/Dec, 1986

  Short-Term Municipal Securities

  John R. Walter

  Sep/Oct, 1986

  Federal Funds: Instrument of Federal Reserve Policy

  Marvin Goodfriend

  Sep/Oct, 1986

  Short-Term Interest Rate Futures

  Anatoli Kuprianov

  Jul/Aug, 1986

  Treasury Bill versus Private Money Market Yield Curves

  Timothy Q. Cook, Thomas A. Lawler and Timothy D. Rowe

  Jul/Aug, 1986

  Recent Financial Deregulation and the Interest Elasticity of M1 Demand

  Yash P. Mehra

  Jul/Aug, 1986

  A Review of Bank Performance in the Fifth District, 1985

  David L. Mengle and John R. Walter

  May/Jun, 1986

  The Discount Window

  David L. Mengle

  May/Jun, 1986

  The National Income and Product Accounts

  Roy H. Webb

  May/Jun, 1986

  Cumulative Process Models from Thornton to Wicksell

  Thomas M. Humphrey

  May/Jun, 1986

  The Industrial Mix of Employment in the Fifth District, 1950-1985

  Christine Chmura

  Mar/Apr, 1986

  An Analysis of Federal Reserve Pricing

  Anatoli Kuprianov

  Mar/Apr, 1986

  Monetary Policy in the Early 1980s

  Robert L. Hetzel

  Mar/Apr, 1986

  Real Budget Deficit Implications of Gramm-Rudman-Hollings

  William G. Dewald

  Jan/Feb, 1986

  Thrift Competition: Does It Matter?

  Donald L. Welker

  Jan/Feb, 1986

  A Weekly Rational Expectations Model of the Nonborrowed Reserve Operating Procedure

  Marvin Goodfriend

  Jan/Feb, 1986

  The Agricultural Outlook for 1986 . . . Continued Financial Weakness Seen

  Raymond E. Owens III

• 1985 14
  Nov/Dec, 1985

  The Rules versus Discretion Debate over Monetary Policy in the 1920s

  Robert L. Hetzel

  Nov/Dec, 1985

  CBO and OMB Projections, Adjusted for Inflation, Show Federal Budget Deficit under Control

  William G. Dewald

  Sep/Oct, 1985

  Controversy Over the Federal Budget Deficit: A Theoretical Perspective

  Michael Dotsey

  Sep/Oct, 1985

  The Early History of the Phillips Curve

  Thomas M. Humphrey

  Jul/Aug, 1985

  Toward More Accurate Macroeconomic Forecasts from Vector Autoregressions

  Roy H. Webb

  Jul/Aug, 1985

  A Review of Bank Performance in the Fifth District, 1984

  David L. Mengle and John R. Walter

  Jul/Aug, 1985

  The Monetary Control Act and the Role of the Federal Reserve in the Interbank Clearing Market

  Anatoli Kuprianov

  May/Jun, 1985

  Are NOWs Being Used as Savings Accounts?

  Timothy Q. Cook and Timothy D. Rowe

  May/Jun, 1985

  Daylight Overdrafts and Payments System Risks

  David L. Mengle

  Mar/Apr, 1985

  The Evolution and Policy Implications of Phillips Curve Analysis

  Thomas M. Humphrey

  Mar/Apr, 1985

  Inflationary Expectations, Money Growth, and the Vanishing Liquidity Effect of Money on Interest: A Further Investigation

  Yash P. Mehra

  Jan/Feb, 1985

  Financial Innovation in the United States - Background, Current Status and Prospects

  J. Alfred Broaddus, Jr.

  Jan/Feb, 1985

  Forecasts 1985

  Roy H. Webb

  Jan/Feb, 1985

  The Agricultural Outlook for 1985 . . . A Little Promise Seen

  Raymond E. Owens III

• 1984 16
  Nov/Dec, 1984

  Base Drift and the Longer Run Growth of M1: Experience from a Decade of Monetary Targeting

  J. Alfred Broaddus, Jr. and Marvin Goodfriend

  Nov/Dec, 1984

  A Monetarist Money Demand Function

  Robert L. Hetzel

  Nov/Dec, 1984

  The Behavior of the M1 Demand Function in the Early 1980s

  Robert L. Hetzel

  Sep/Oct, 1984

  An Investigation of Cash Management Practices and Their Effects on the Demand for Money

  Michael Dotsey

  Sep/Oct, 1984

  Algebraic Quantity Equations before Fisher and Pigou

  Thomas M. Humphrey

  Jul/Aug, 1984

  The Fed's Mandate: Help or Hindrance?

  Robert P. Black

  Jul/Aug, 1984

  The Tax Effect, and the Recent Behaviors of the After-Tax Real Rate: Is It Too High?

  Yash P. Mehra

  Jul/Aug, 1984

  A Review of Bank Performance in the Fifth District, 1983

  F. Ward McCarthy, Jr.

  May/Jun, 1984

  The Promises and Pitfalls of Contemporaneous Reserve Requirements for the Implementation of Monetary Policy

  Marvin Goodfriend

  May/Jun, 1984

  On Nonneutral Relative Price Effects in Monetarist Thought: Some Austrian Misconceptions

  Thomas M. Humphrey

  May/Jun, 1984

  Equalizing Regional Differences in Wages: A Study of Wages and Migration in the South and Other Regions

  William E. Cullison

  Mar/Apr, 1984

  The Evolution of the Bank Regulatory Structure: A Reappraisal

  F. Ward McCarthy, Jr.

  Mar/Apr, 1984

  The 1983 M1 Seasonal Factor Revisions: An Illustration of Problems That May Arise in Using Seasonally Adjusted Data for Policy Purposes

  Timothy Q. Cook

  Jan/Feb, 1984

  Vector Autoregressions as a Tool for Forecast Evaluations

  Roy H. Webb

  Jan/Feb, 1984

  Forecasts 1984

  Roy H. Webb

  Jan/Feb, 1984

  The Economic Outlook for Fifth District States in 1984: Forecasts from Vector Autoregression Models

  Anatoli Kuprianov and William M. Lupoletti

• 1983 14
  Nov/Dec, 1983

  The Behavior of the Spread between Treasury Bill Rates and Private Money Market Rates since 1978

  Timothy Q. Cook and Thomas A. Lawler

  Nov/Dec, 1983

  Empirical Comparisons of Credit and Monetary Aggregates Using Vector Autoregressive Methods

  Edward K. Offenbacher and Richard D. Porter

  Nov/Dec, 1983

  Money, Credit, and Federal Reserve Policy: Reply to Porter and Offenbacher

  Benjamin M. Friedman

  Nov/Dec, 1983

  Response to Friedman

  Edward K. Offenbacher and Richard D. Porter

  Sep/Oct, 1983

  An Examination of Implicit Interest Rates on Demand Deposits

  Michael Dotsey

  Sep/Oct, 1983

  Can the Central Bank Peg Real Interest Rates? A Survey of Classical and Neoclassical Opinion

  Thomas M. Humphrey

  Jul/Aug, 1983

  Why Economic Data Should Be Handled with Care: The Case of the Suspiciously Slow Growth Statistic

  Roy H. Webb

  Jul/Aug, 1983

  A Review of Bank Performance in the Fifth District, 1982

  John R. Walter

  May/Jun, 1983

  The Early History of the Real/Nominal Interest Rate Relationship

  Thomas M. Humphrey

  May/Jun, 1983

  The Relationship between Money and Expenditure in 1982

  Robert L. Hetzel

  Mar/Apr, 1983

  A Historical Assessment of the Rationales and Functions of Reserve Requirements

  Marvin Goodfriend and Monica Hargraves

  Jan/Feb, 1983

  Forecasts 1983

  Roy H. Webb

  Jan/Feb, 1983

  The 1983 Outlook for Agriculture

  Sada L. Clarke

  Jan/Feb, 1983

  The Relationship between the Discount Rate and the Federal Funds Rate under the Federal Reserve's Post-October 6, 1979 Operating Procedure

  J. Alfred Broaddus, Jr. and Timothy Q. Cook

• 1982 12
  Nov/Dec, 1982

  Macroeconomics after a Decade of Rational Expectations: Some Critical Issues

  Bennett T. McCallum

  Nov/Dec, 1982

  Of Hume, Thornton, the Quantity Theory, and the Phillips Curve

  Thomas M. Humphrey

  Sept/Oct, 1982

  The Real Bills Doctrine

  Thomas M. Humphrey

  Jul/Aug, 1982

  The October 1979 Regime of Monetary Control and the Behavior of the Money Supply in 1980

  Robert L. Hetzel

  Jul/Aug, 1982

  Interest Rates and Federal Deficits

  Roy H. Webb

  May/Jun, 1982

  Money, the Monetary Base, and Nominal GNP

  William E. Cullison

  May/Jun, 1982

  Determinants of Individual Tax-Exempt Bond Yields: A Survey of the Evidence

  Timothy Q. Cook

  Mar/Apr, 1982

  The Competition for Transaction Accounts

  Walter A. Varvel and John R. Walter

  Mar/Apr, 1982

  The Federal Reserve's Role in the Payments Mechanism and It's Communication Patterns

  Theordore E. Allison

  Jan/Feb, 1982

  A Model of Money Stock Determination with Loan Demand and a Banking System Balance Sheet Constraint

  Marvin Goodfriend

  Jan/Feb, 1982

  Forecasts 1982

  Roy H. Webb

  Jan/Feb, 1982

  The Agricultural Outlook for '82

  Sada L. Clarke

• 1981 16
  Nov/Dec, 1981

  Adam Smith and the Monetary Approach to the Balance of Payments

  Thomas M. Humphrey

  Nov/Dec, 1981

  A Prescription for Monetary Policy 1981

  Marvin Goodfriend

  Nov/Dec, 1981

  Inflation and Monetary Growth: Experience in Fourteen Countries of Europe and North America Since 1958

  Richard T. Selden

  Sep/Oct, 1981

  Monetary Policy - The Possible and the Impossible

  Robert P. Black

  Sep/Oct, 1981

  Unemployment and Its Measurement: Implications from a Survey of Long-Term Unemployment in Baltimore City

  William E. Cullison

  Jul/Aug, 1981

  The Market for Federal Funds

  Seth P. Maerowitz

  Jul/Aug, 1981

  Monetary Policy and Economic Performance, Summer 1976-November 1980: An Overview

  Robert E. Weintraub

  Jan/Feb, 1981

  Keynes on Inflation

  Thomas M. Humphrey

  May/Jun, 1981

  Explaining Exchange Rate Behavior: An Augmented Version of the Monetary Approach

  Thomas M. Humphrey

  May/Jun, 1981

  Eurodollars

  Marvin Goodfriend

  May/Jun, 1981

  The Quantity Theory Tradition and the Role of Monetary Policy

  Robert L. Hetzel

  Mar/Apr, 1981

  Evolution in Banking Competition

  Walter A. Varvel and Henry C. Wallich

  Mar/Apr, 1981

  Commercial Paper

  Peter A. Abken

  Mar/Apr, 1981

  1980: A Difficult Year for Farmers

  Sada L. Clarke

  Jan/Feb, 1981

  Forecasts 1981

  William E. Cullison

  Jan/Feb, 1981

  More Promising . . . The Outlook for Agriculture in '81

  Sada L. Clarke

• 1980 17
  Nov/Dec, 1980

  Redlining: An Economic Analysis

  John P. Segala

  Nov/Dec, 1980

  Taxing Capital Gains

  Roy H. Webb

  Sep/Oct, 1980

  Short-Term Investment Pools

  Timothy Q. Cook and Jeremy G. Duffield

  Sep/Oct, 1980

  Investments for Small Savers at Commercial Banks

  James F. Tucker

  Jul/Aug, 1980

  Eliminating Runaway Inflation: Lessons from the German Hyperinflation

  Thomas M. Humphrey

  Jul/Aug, 1980

  Negotiable Certificates of Deposit

  Bruce J. Summers

  Jul/Aug, 1980

  Current Issues in Monetary Control

  William Poole

  May/Jun, 1980

  Depression or Price Controls: A Fictitious Dilemma for Anti-Inflation Policy

  Roy H. Webb

  May/Jun, 1980

  Trends in Federal Taxation Since 1950

  William E. Cullison

  May/Jun, 1980

  Dennis H. Robertson and the Monetary Approach to Exchange Rates

  Thomas M. Humphrey

  May/Jun, 1980

  Bank Profits and Inflation

  Henry C. Wallich

  Mar/Apr, 1980

  The Economics of Gold Price Movements

  Peter A. Abken

  Mar/Apr, 1980

  Recent Financial Innovations: Courses, Consequences for the Payments System, and Implications for Monetary Control

  Marvin Goodfriend, James Parthemos and Bruce J. Summers

  Jan/Feb, 1980

  The Financial Services Industry: Recent Trends and Future Prospects

  Aubrey N. Snellings

  Jan/Feb, 1980

  Forecasts 1980

  William E. Cullison

  Jan/Feb, 1980

  Less Promising . . . The 1980 Outlook for Agriculture

  Sada L. Clarke

  Jan/Feb, 1980

  Bullionists' Exchange Rate Doctrines and Current Policy Debates

  Thomas M. Humphrey

• 1979 14
  Nov/Dec, 1979

  Nonbank Activities of Fifth District Bank Holding Companies

  Walter A. Varvel

  Nov/Dec, 1979

  On Fiscal Responsibility

  James Parthemos

  Sep/Oct, 1979

  The Persistence of Inflation

  Thomas M. Humphrey

  Sep/Oct, 1979

  Exchange Rate Policy and the Dual Role of Exchange Rate Movements in International Adjustment

  Marvin Goodfriend

  Jul/Aug, 1979

  Demand Deposits: A Comparison of the Behavior of Household and Business Balances

  Bruce J. Summers

  Jul/Aug, 1979

  Average Costs of Money Market Mutual Funds

  Timothy Q. Cook and Jeremy G. Duffield

  Jul/Aug, 1979

  Money Market Mutual Funds: A Reaction to Government Regulations or A Lasting Financial Innovation?

  Timothy Q. Cook and Jeremy G. Duffield

  May/Jun, 1979

  The Purchasing Power Parity Doctrine

  Thomas M. Humphrey

  May/Jun, 1979

  Wage-Price Restraint and Macroeconomic Disequilibrium

  Roy H. Webb

  Mar/Apr, 1979

  Farmland . . . An Increasingly Valuable Asset

  Sada L. Clarke

  Mar/Apr, 1979

  Profitability of Minority Banks in 1977

  James F. Tucker

  Jan/Feb, 1979

  The Interest Cost-Push Controversy

  Thomas M. Humphrey

  Jan/Feb, 1979

  Forecasts 1979

  William E. Cullison

  Jan/Feb, 1979

  A Summary of the International Banking Act of 1978

  John P. Segala

• 1978 19
  Nov/Dec, 1978

  Automatic Transfers from Savings to Checking: Perspective and Prospects

  J. Alfred Broaddus, Jr.

  Nov/Dec, 1978

  Regulation Q and the Behavior of Savings and Small Time Deposits at Commercial Banks and the Thrift Institutions

  Timothy Q. Cook

  Nov/Dec, 1978

  Correspondent Services, Federal Reserve Services, and Bank Cash Management Policy

  Bruce J. Summers

  Sep/Oct, 1978

  The Implicit Deposit Rate Concept: Issues and Applications

  Michael A. Klein

  Sep/Oct, 1978

  Honest Money

  Henry C. Wallich

  Sep/Oct, 1978

  Managing Cash Assets: Operating Balances and Reserve Requirements

  Bruce J. Summers

  Jul/Aug, 1978

  The Monetary Approach to Exchange Rates: Its Historical Evolution and Role in Policy Debates

  Thomas M. Humphrey

  Jul/Aug, 1978

  Seasonal Movements in Short-Term Yield Spreads

  Thomas A. Lawler

  Jul/Aug, 1978

  LIFO Inventory Accounting: Effects on Corporate Profits, Inventory-Sales Ratios, and Inventory Investment

  Walter A. Varvel

  May/Jun, 1978

  District Enjoys Strong Income Growth

  Aubrey N. Snellings

  May/Jun, 1978

  The Farm Income and Debt Situation in Perspective

  Sada L. Clarke

  May/Jun, 1978

  The Cause of the Dollar Depreciation

  Robert L. Hetzel and Thomas A. Lawler

  Mar/Apr, 1978

  Perspectives on Fifth District Banking: 1960-1976

  Bruce J. Summers

  Mar/Apr, 1978

  The Impact of Large Time Deposits on the Growth Rate of M2

  Timothy Q. Cook

  Mar/Apr, 1978

  Farm Financial and Credit Conditions

  Sada L. Clarke

  Jan/Feb, 1978

  Business Forecasts 1978

  Sandra D. Baker and Bruce J. Summers

  Jan/Feb, 1978

  The Outlook for Agriculture in '78

  Sada L. Clarke

  Jan/Feb, 1978

  Short-Term Business Credit in the Recovery

  Bruce J. Summers

  Jan/Feb, 1978

  Some Recent Developments in Phillips Curve Analysis

  Thomas M. Humphrey

• 1977 15
  Nov/Dec, 1977

  Some Factors Affecting Short-Run Growth Rates of the Money Supply

  J. Alfred Broaddus, Jr. and Timothy Q. Cook

  Nov/Dec, 1977

  Seasonal Adjustment of the Money Stock: Problems and policy Implications

  Thomas A. Lawler

  Sep/Oct, 1977

  A Primer on the Importance of the Money Supply

  Robert L. Hetzel

  Sep/Oct, 1977

  Two Views of Monetary Policy: The Attwood-Mill Debate Revisited

  Thomas M. Humphrey

  Jul/Aug, 1977

  Bank Capital Adequacy: Perspectives and Prospects

  Bruce J. Summers

  Jul/Aug, 1977

  Changes in Banking Concentration in Selected Fifth District SMSAs, 1970-1976

  Walter A. Varvel and Suzanne J. Stone

  Jul/Aug, 1977

  The Need for Order in International Finance

  Arthur F. Burns

  May/Jun, 1977

  On Cost-Push Theories of Inflation in the Pre-War Monetary Literature

  Thomas M. Humphrey

  May/Jun, 1977

  Factors Determining Exchange Rates: A Simple Model and Empirical Tests

  Thomas M. Humphrey and Thomas A. Lawler

  Mar/Apr, 1977

  Changing Yield Spreads in the U. S. Government Bond Market

  Timothy Q. Cook

  Mar/Apr, 1977

  Private Domestic Investment in the Current Business Cycle

  Thomas A. Lawler

  Mar/Apr, 1977

  Focusing on . . . Farm Financial and Credit Conditions

  Sada L. Clarke

  Jan/Feb, 1977

  A Monetarist Model of Exchange Rate Determination

  Thomas M. Humphrey

  Jan/Feb, 1977

  Forecasts 1977: A Persistent but Gradual Expansion

  William E. Cullison

  Jan/Feb, 1977

  Cautiously Optimistic . . . the Outlook for Agriculture in 1977

  Sada L. Clarke

• 1976 15
  Nov/Dec, 1976

  Performance Characteristics of High-Earning Minority Banks

  Bruce J. Summers and James F. Tucker

  Nov/Dec, 1976

  A Monetarist Model of World Inflation and the Balance of Payments

  Thomas M. Humphrey

  Sep/Oct, 1976

  FDIC Policy Toward Bank Failures

  Walter A. Varvel

  Sep/Oct, 1976

  Federal Deficits, Inflation, and Monetary Growth: Can They Predict Interest Rates?

  William D. Jackson

  Jul/Aug, 1976

  The Economic Outlook: Cause for Optimism?

  Aubrey N. Snellings

  Jul/Aug, 1976

  Some Current Controversies in the Theory of Inflation

  Thomas M. Humphrey

  May/Jun, 1976

  Net Corporate Saving in the 1970's

  Timothy Q. Cook

  May/Jun, 1976

  Regulations Affecting Competition Between Banks and Thrift Institutions in the Fifth District

  Bruce J. Summers

  Mar/Apr, 1976

  Stabilization Policy: Time for a Reappraisal?

  Aubrey N. Snellings

  Mar/Apr, 1976

  A Review of the Municipal Bond Market

  Richard Rosenbloom

  Mar/Apr, 1976

  The $2 Bill Returns

  Suzanne J. Stone

  Jan/Feb, 1976

  Foreign Banking in the United States: Movement Toward Federal Regulation

  Bruce J. Summers

  Jan/Feb, 1976

  Forecasts 1976: Recovery But No Bicentennial Boom

  William E. Cullison

  Jan/Feb, 1976

  Predicting the Rate of Inflation in 1976

  Robert L. Hetzel

  Jan/Feb, 1976

  Outlook for Agriculture Optimistic

  Sada L. Clarke

• 1975 16
  Nov/Dec, 1975

  Aggregating the Monetary Aggregates: Concepts and Issues

  J. Alfred Broaddus, Jr.

  Nov/Dec, 1975

  A Monetarist Model of the Inflationary Process

  Thomas M. Humphrey

  Sep/Oct, 1975

  The Strategy of Monetary Policy

  Raymond E. Lombra and Raymond G. Torto

  Sep/Oct, 1975

  Loan Commitments to Business in United States Banking History

  Bruce J. Summers

  Jul/Aug, 1975

  On Labor Market Indicators

  William E. Cullison

  Jul/Aug, 1975

  A Valuation Approach to Bank Holding Company Acquisitions

  Walter A. Varvel

  May/Jun, 1975

  The Current Recession in Perspective

  Arthur F. Burns

  May/Jun, 1975

  A Time Series Analysis of Business Loans at Large Commercial Banks

  Bruce J. Summers

  May/Jun, 1975

  Farmers' Financial Position

  Sada L. Clarke

  Mar/Apr, 1975

  The District Economy in Perspective: 1974

  B. Gayle Ennis

  Mar/Apr, 1975

  Medical Care: Rising Cost in a Peculiar Marketplace

  James F. Tucker

  Mar/Apr, 1975

  Agriculture: Outlook for 1975 is Cloudy

  Sada L. Clarke

  Mar/Apr, 1975

  Financial Forecasts: 1975

  B. Gayle Ennis

  Jan/Feb, 1975

  The Classical Concept of the Lender of Last Resort

  Thomas M. Humphrey

  Jan/Feb, 1975

  Financial Highlights: 1974

  B. Gayle Ennis

  Jan/Feb, 1975

  Forecasts 1975

  William E. Cullison

• 1974 14
  Nov/Dec, 1974

  The Concept of Indexation in the History of Economic Thought

  Thomas M. Humphrey

  Nov/Dec, 1974

  Indexation as a Response to Inflation: An Examination

  James F. Tucker

  Sep/Oct, 1974

  The Residential Mortgage Market in Recent Years

  Timothy Q. Cook

  Sep/Oct, 1974

  Factors Behind Rising Food Costs

  Sada L. Clarke

  Jul/Aug, 1974

  Public Utility Pricing, Debt Financing, and Consumer Welfare

  Andrew Brimmer

  Jul/Aug, 1974

  State Taxation of Fifth District Banks

  Daniel A. Karp

  May/Jun, 1974

  The Quantity Theory of Money: Its Historical Evolution and Role in Policy Debates

  Thomas M. Humphrey

  May/Jun , 1974

  Letter on Monetary Policy

  Milton Friedman

  Mar/Apr, 1974

  The District Economy in Perspective: 1973

  B. Gayle Ennis

  Mar/Apr, 1974

  Forecasts 1974

  William E. Cullison

  Mar/Apr , 1974

  The Agricultural Outlook for '74

  Sada L. Clarke

  Mar/Apr, 1974

  Financial Forecasts: 1974

  B. Gayle Ennis

  Jan/Feb, 1974

  Financial Highlights of 1973

  Philip H. Davidson and B. Gayle Ennis

  Jan/Feb, 1974

  Investor Participation in Financing Residential Mortgages: 1963-1972

  Philip H. Davidson