Search Results
Conference Paper
Monetary aggregates targeting in a low-inflation economy
Working Paper
When is inflation low?
Recent research has clarified the nature of measurement errors in U.S. price indexes. Changes in the quality of goods create severe problems. Laspeyres-type indexes suffer from substitution bias from one good to another and from one type of outlet to another. Available evidence suggests that the CPI has an upward bias in the neighborhood of 2 percentage points per year. ; Another issue concerns assessment of underlying inflation when prices are subject to temporary disturbances. Focusing on price indexes excluding food and energy seems questionable. High-frequency noise is best filtered out ...
Journal Article
Using T-bill futures to gauge interest rate expectations
Discussion Paper
Financial adjustment to inflation
Conference Paper
The risks of the federal housing enterprises' uncertain status