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Series:New England Economic Review 

Journal Article
Modeling the Fed: a forward- looking monetary policy reaction function

New England Economic Review , Issue Nov , Pages 3-8

Journal Article
Rising tide in the labor market: to what degree do expansions benefit the disadvantaged?

The current U.S. economic expansion is unusually long and strong. Has it served as a "rising tide" to float all boats in the labor market benefiting everyone? To what degree are groups that are typically disadvantaged in the labor market-blacks, women, teens, the less educated-participating in the current prosperity? To investigate the effects of economic expansion (or recession) on various labor market groups, this article presents data that describe the patterns of labor force status by race, sex, education, and age (teens) during recent decades. ; The author finds that while virtually ...
New England Economic Review , Issue May , Pages 3-33

Journal Article
\"Whither New England\"?

This article attempts to identify precursors, or indicators, of New England employment. The predictive power of a diverse array of variables is calculated and compared. However, because no single variable is likely to contain all information of predictive value, the article then explores alternative methods of combining several variables into an index or statistical "model" of New England employment growth. The variables are separated into regional, national, and expectational in order to measure the predictive value of each type of information. ; In both in-sample and out-of-sample tests, ...
New England Economic Review , Issue Jul , Pages 11-26

Journal Article
Economic profit and performance measurement in banking

Successful bank operation requires managers to weigh complex trade-offs between growth, return, and risk. In recent years banks increasingly have adopted innovative performance metrics based on the concept of economic profit, rather than accounting earnings to assist managers in making such difficult and complex decisions. Banks hope in this way to elicit better decision-making by managers and also too align managerial behavior more closely with the interests of shareholders. This article analyzes the use of economic profit for measuring the performance of banks, focusing on the allocation ...
New England Economic Review , Issue Jul , Pages 35-53

Journal Article
Banks' venture into real estate: high rollers, or lemmings?

During the 1980s, commercial banks expanded their mortgage lending more rapidly than other financial institutions. This article examines the factors responsible for the variations in commercial banks real estate lending, in an attempt to determine whether banks pursued real estate loans in a high-risk, high-return strategy, or simply were caught up in the general enthusiasm for real estate lending. ; The authors regression analysis provides some support for the argument that banks looked to real estate loans to bolster their financial performance. She also finds that in New England, where ...
New England Economic Review , Issue Sep , Pages 13-32

Journal Article
Taxes, income distribution, and the real estate cycle: why all houses do not appreciate at the same rate

Changes in house prices are generally reported on an aggregate basis. This article suggests that within a metropolitan area, high-value and low-value homes appreciate at different rates. Overall, the authors results indicate that appreciation rates are more volatile for high-priced homes than for less expensive homes around the real estate cycle. ; The different rates of price appreciation are partly explained by changes in the user cost of owning a home. Cyclical factors also play a part. Furthermore, the author found that changes in the prices of lowervalue homes have a contemporaneous ...
New England Economic Review , Issue May , Pages 39-50

Journal Article
Model error

Modern finance would not have been possible without models. Increasingly complex quantitative models drive financial innovation and the growth of derivatives markets. Models are necessary to value financial instruments and to measure the risks of individual positions and portfolios. Yet when used inappropriately, the models themselves can become an important source of risk. Recently, several well-publicized instances occurred of institutions suffering significant losses attributed to model error. This has sharpened the interest in model risk among financial institutions and their regulators.> ...
New England Economic Review , Issue Nov , Pages 17-28

Journal Article
The Uruguay round of trade negotiations: an overview

On December 15, 1993, in Geneva, Switzerland, negotiators representing 117 countries reached consensus on the Final Act of the Uruguay Round, the most comprehensive international trade agreement in history. The Final Act prescribes, among other things, that tariffs on industrial products be reduced by an average of more than one-third, that trade in agricultural goods be progressively liberalized, and that a new body, the World Trade Organization, be established both to facilitate the implementation of multilateral trade agreements and to serve as a forum for future negotiations. The Final ...
New England Economic Review , Issue May , Pages 3-14

Journal Article
ATM fees: does bank size matter?

ATM networks have allowed banks to charge non-customers for withdrawing money from their ATMs since 1996, but ATM surcharges have been criticized repeatedly by consumer advocates and politicians. Large banks have been especially targeted, because they are more likely to impose the fees and their fees tend to be higher than those charged by small banks. However, surveys comparing ATM fees across financial institutions do not control for differences in quality among banks of various sizes. ; This article analyzes differences in ATM fees among banks in order to test whether large banks impose ...
New England Economic Review , Issue Jan , Pages 13-24

Journal Article
New England approaches the 1990s

New England Economic Review , Issue Jan , Pages 31-45

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Kopcke, Richard W. 27 items

Little, Jane Sneddon 26 items

Rosengren, Eric S. 26 items

Browne, Lynn E. 24 items

Tannenwald, Robert 22 items

Bradbury, Katharine L. 21 items

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