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Journal Article
Alternative monetary constitutions and the quest for price stability
Wynne, Mark A.; Kydland, Finn E. (2002)
This article reviews the various means through which governments and central banks have sought to guarantee long-run price stability. Finn Kydland and Mark Wynne argue that monetary regimes or standards can all be viewed as more or less successful attempts to overcome the well-known time-consistency problem in monetary policy. The classical gold standard, which prevailed in the late nineteenth and early twentieth centuries, can be interpreted as a monetary policy rule that delivered long-run price stability. The fiat monetary standard adopted by countries following the abandonment of gold ...
Economic and Financial Policy Review , Volume 1 , Issue 1

Journal Article
B2B emarketplace announcements and shareholder wealth
Siems, Thomas F.; Chen, Andrew H. (2001-01)
In the business-to-business (B2B) sector, new supply-chain models within electronic marketplaces (eMarketplaces) offer firms significantly lower procurement costs, increased operating efficiencies, and expanded market opportunities. Using event-study methodology to look at the period July 1999-March 2000, Andrew Chen and Thomas Siems find that investors reacted favorably to B2B eMarketplace announcements, with slightly higher abnormal returns associated with vertical than with horizontal eMarketplaces. They also find significant positive abnormal returns for e-commerce technology providers ...
Economic and Financial Policy Review , Issue Q I , Pages 12-22

Journal Article
Money and inflation in a deregulated financial environment
Rosenblum, Harvey; Cox, W. Michael (1989-05)
Economic and Financial Policy Review , Issue May , Pages 1-19

Journal Article
Deregulation and monetary reform
O'Driscoll, Gerald P. (1986-07)
Economic and Financial Policy Review , Issue Jul , Pages 19-31

Journal Article
Reduced defense purchasing: anticipating the impact on state and industry employment
Taylor, Lori L. (1990-11)
Despite Iraq's invasion of Kuwait, budgetary pressures in the United States make significant cuts in defense purchasing seem inevitable. Lori L. Taylor analyzes the employment consequences of cutting billions of dollars in defense purchasing. She finds that while certain industries and areas would experience some economic difficulties, job losses would be negligible nationwide. ; Taylor estimates the near-term and long-term effects of a 10-percent cut in real defense purchasing. Using input-output analysis, she determines which industries are defense dependent and identifies the impact on ...
Economic and Financial Policy Review , Issue Nov , Pages 17-27

Journal Article
Does the United States still overinvest in housing?
Taylor, Lori L. (1998-04)
Savvy investors allocate their resources across different types of investments to maximize their returns; savvy societies do likewise. Just as with the private sector, society maximizes the return on its investments when risk-adjusted social rates of return equalize across all types of investments. Unfortunately, whereas market arbitrage ensures that risk-adjusted private rates of return equalize, no similar mechanism exists to guarantee that risk-adjusted social rates of return are also equalized. Thus, society may invest relatively too much in some types of capital and relatively too little ...
Economic and Financial Policy Review , Issue Q II , Pages 10-18

Journal Article
The Texas industrial production index
Long, William T.; Berger, Franklin D. (1989-11)
The Texas Industrial Production Index (TIPI) measures the output of the manufacturing, mining, and utility sectors of the Texas economy. These sectors are of special interest because of their sensitivity to business cycles and because of the size (albeit declining) of the Texas mining sector. The Federal Reserve Bank of Dallas has published TIPI since 1958. Revisions are implemented when new data sources are available, when existing data are revised, or when methodological improvements are devised. The most recent major TIPI revision came in the fall of 1988. ; Berger and Long examine TIPI's ...
Economic and Financial Policy Review , Issue Nov , Pages 21-38

Journal Article
The federal funds rate as an indicator of monetary policy: evidence from the 1980s
Emery, Kenneth M.; Balke, Nathan S. (1994-01)
Recently, several economists have argued that movements in the federal funds rate are a good proxy for changes in monetary policy. In this article, Nathan Balke and Kenneth Emery critically examine this view and the evidence supporting it. Using simple vector autoregressions, they find that before 1980 the correlations between the federal funds rate and other important macroeconomic variables are consistent with a traditional monetary policy interpretation of the federal funds rate. However, they show that after 1982 the relationships between the federal funds rate and other macroeconomic ...
Economic and Financial Policy Review , Issue Q I , Pages 1-15

Journal Article
The Texas index of leading economic indicators: a revision and further evaluation
Phillips, Keith R. (1990-07)
In this article, Keith R. Phillips revises the Texas index of leading economic indicators that he introduced two years ago. He does so in response to recent structural changes in the state economy and the availability of new data. The Federal Reserve Bank of Dallas has produced the Texas leading index monthly since July 1988. ; Using a newly developed technique for evaluating leading indexes, Phillips finds that the revised Texas leading index has performed well in predicting movements in the Texas economy since 1981. He also finds that monthly revisions in the leading index are generally ...
Economic and Financial Policy Review , Issue Jul , Pages 17-25

Journal Article
Structure and technology of manufacturing in Texas and Louisiana
Dunstan, Roger H.; Long, William T. (1987-01)
Economic and Financial Policy Review , Issue Jan , Pages 15-27

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