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Working Paper
The market for deposit-type financial assets
Dissertation
Journal Article
Jobs creation and government policy
An argument by Federal Reserve Bank of Cleveland President Jerry Jordan that the proper focal point of public policy is not creating jobs but creating wealth, thus allowing for the highest standard of living.
Journal Article
Member bank income - 1968
Journal Article
Money and monetary policy for the twenty-first century
This essay challenges the conventional wisdom about money and monetary policy. The role of money in fostering prosperity is a function of the quality, as well as the quantity, of money. Inflation always harms the performance of an economy. Deflations caused by productivity and innovation can be virtuous. A definition of a non-inflationary environment is set forth. Rapid real growth and low unemployment cannot cause inflation. There is no trade-off between inflation and employment. Higher commodity prices or "weak" exchange rates cannot cause inflation. High market interest rates are a ...
Journal Article
Money, fiscal discipline, and growth
An examination of the role of sound money in promoting national prosperity, emphasizing the hazards that emanate from fiscal policies and the challenges that will accompany the European Monetary Union.
Journal Article
How to keep growing “new economies”
Rather than debate whether technical advances have created a ?new economy,? economists should focus on the more interesting and useful question: How do we create the sort of environment in which innovation and the productive use of new technology thrive, thereby creating economic prosperity? This Economic Commentary discusses the features governments must incorporate into their institutions in order to build an economic infrastructure that promotes prosperity.
Journal Article
Financial crises and market regulation
Financial crises typically arise from mismanagement by governments which seek, usually with the most sincere and honorable intentions, to reduce or eliminate some constituent's risk exposure. But risk cannot be eliminated, only redistributed. Mr. Jordan, president and chief executive officer of the Federal Reserve Bank of Cleveland, recently discussed this problem at the Eighth Annual Financial Markets Conference, held at the Federal Reserve Bank of Atlanta.
Journal Article
Reply
Reply to "Monetary & Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization".
Conference Paper
The credit crunch: a monetarist's perspective