Search Results
Conference Paper
Regulatory reform, banks, and payment system developments
Journal Article
International policy coordination: can we afford it?
A proposition that detailed global coordination of macroeconomic policies could have negative effects on real economic growth and efficiency, and that the integrity of private markets would be better assured through the maintenance of long-term nominal policy targets.
Journal Article
International developments and monetary policy
A discussion of the problems associated with redressing global trade imbalances and why a monetary policy committed to international price stability is necessary in order to reform our international accounts and foster a healthy economic environment.
Journal Article
Some observations on central bank accountability
An analysis of the institutional design of the Federal Reserve System, stating that the central bank should be given a clear legislative mandate to achieve price-level stability and financial market efficiency, along with the independence and accountability necessary to realize these goals.
Journal Article
Financial reform at a crossroads
A discussion of the serious banking problems created by the conflict between market forces and regulation, featuring comments on regulation, deposit insurance, and objectives for financial reform.
Journal Article
Defending zero inflation: all for naught
A response by the Federal Reserve Bank of Cleveland president to critics of his continuing advocacy of zero inflation as the overriding objective of monetary policy.
Journal Article
A monetary policy for the 1990's
An argument that the Federal Reserve could improve the performance of the economy by committing to the long-term goal of price stability and by announcing a time frame within which to achieve it. The author explains his support of House Joint Resolution 409, which would mandate making price stability the major goal of Federal Reserve monetary policy.
Journal Article
A critique of monetary protectionism
An argument against attempts to achieve current-account objectives through monetary manipulation of nominal exchange rates, with an explanation of why such tampering--which for various reasons might appear politically attractive--ultimately harms economic welfare.
Journal Article
Economic policy issues for 1988 and beyond
A discussion of the uncertainty surrounding economic policy issues in 1988, with emphasis on the need for policymakers to focus on long-term objectives.
Journal Article
Monetary policy, information, and price stability
A discussion of the pernicious effects of inflation on U.S. economic efficiency and a recommendation that the Federal Reserve should move toward its goal of price stability through an information program stating its goals, methods, and timetables for achieving zero inflation.