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Series:Economic Letter 

Journal Article
Health care services depress recent PCE inflation readings

Health care services, which historically helped push core measures of inflation higher, have restrained recent readings. Among them is the personal consumption expenditures price index, favored by Federal Reserve policymakers deliberating interest rate changes.
Economic Letter , Volume 11 , Issue 11 , Pages 1-4

Journal Article
Foreclosures’ silver lining: they could restrain rent inflation

Rental inflation has surpassed historic levels despite a supply of housing that partly reflects a persistent inventory of foreclosed, vacant homes.
Economic Letter , Volume 8 , Issue 1

Journal Article
Crude awakening: behind the surge in oil prices

The first few months of 2008 saw crude oil prices breach one barrier after another. They topped $100 a barrel for the first time on Feb. 19, then rose past $103.76 about two weeks later, surpassing the previous inflation-adjusted peak, established in 1980. In April and early May, oil prices pushed past $110 and then $120 a barrel and beyond. ; These milestones reflect a new era in oil markets. After the tumult of the early 1980s, prices remained relatively tame for two decades - in both real and nominal terms. This long stretch of stability ended in 2004, when oil topped $40 a barrel for the ...
Economic Letter , Volume 3

Journal Article
Increased real house price volatility signals break from Great Moderation

The shift toward more volatile real house price growth, unaccompanied by a shift in the volatility of real GDP growth, offers evidence that house price dynamics and real output growth may have diverged beginning around the 2001 recession.
Economic Letter , Volume 7 , Issue 1

Journal Article
Reserve Adequacy Explains Emerging-Market Sensitivity to U.S. Monetary Policy

Emerging economies that borrow in U.S. dollars are sensitive to U.S. monetary policy due to changing exchange rates. However, the marginal effect of this sensitivity is determined by the relative amount of U.S. dollars held in reserve.
Economic Letter , Volume 13 , Issue 9 , Pages 1-4

Journal Article
Did speculation drive oil prices? market fundamentals suggest otherwise

Oil market speculation became an especially popular topic when the price of crude tripled over 18 months to a record high $145 per barrel in July 2008. Of particular interest to many is whether speculators drove oil prices beyond what fundamentals would have otherwise justified. We explore this issue over two Economic Letters. In this article, we look at evidence from the physical market for oil and conclude that fundamentals, and not speculation, were behind the dramatic rise and fall in oil prices. In our companion Economic Letter, we examine the futures market.
Economic Letter , Volume 6

Journal Article
Investment enhances emerging economies' living standards

Investment helps countries at all levels of economic development reap productivity gains from new technologies and improve living standards. Investing to support innovation and a skilled workforce is as crucial for China as it is for the U.S.
Economic Letter , Volume 10 , Issue 5 , Pages 1-4

Journal Article
Measuring the Taylor rule's performance

Using a recently developed econometric technique to determine how the original Taylor rule and subsequent variations perform using different measures of inflation, output and unemployment. We found that the rule remains relevant today, despite the changes wrought by globalization, financial market innovations and technological advances.
Economic Letter , Volume 2

Journal Article
Foreign direct investment: financial benefits could surpass gains in technology

Many emerging markets offer financial incentives to attract foreign direct investment, believing that such investment provides advanced technology or management skills. However, it appears developing economies such as China could benefit more from multinational corporations? financial resources.
Economic Letter , Volume 10 , Issue 9 , Pages 1-4

Journal Article
Making sense of the U.S. housing slowdown

Economic Letter , Volume 1

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Wynne, Mark A. 12 items

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