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Series:New England Economic Review 

Journal Article
The emergence of the venture capital industry

New England Economic Review , Issue Jul , Pages 64-79

Journal Article
Household wealth composition: the impact of capital gains

New England Economic Review , Issue Nov , Pages 26-39

Journal Article
Should Massachusetts reform its bank tax?

New England Economic Review , Issue Sep , Pages 23-35

Journal Article
Consensus forecasts: tyranny of the majority?

New England Economic Review , Issue Nov , Pages 15-21

Journal Article
How dependent are New England's mid-sized firms on the region's largest bank holding companies?

The degree to which mid-sized firms--the "middle market"- depend on large regional banks for short-term credit is an issue particularly relevant to New England. If this dependence is heavy, then the recent consolidation among the regions large bank holding companies could be forcing its mid-sized firms to accept short-term credit on uncompetitive terms. The dependence of New Englands middle market on the regions banking institutions as a whole, both large and small, is also of concern. The greater this dependence, the more vulnerable are the regions mid-sized firms to sharp contractions in ...
New England Economic Review , Issue Jul , Pages 35-48

Journal Article
Fiscal disparity among the States revisited

The 50 states differ sharply in the scope of public services their state and local governments must deliver and in the costs of providing them. The governments of many states, through no fault of their own, must work relatively hard to provide the services needed by those who reside, work, travel, and vacation within their borders. The states also differ dramatically in fiscal capacity, that is, the capacity of their state and local governments to raise revenues. The degree of fiscal disparity among the states has been a salient issue throughout our nation's history, and a focal point of the ...
New England Economic Review , Issue Jul , Pages 3-25

Journal Article
Stocks, bonds, options, futures, and portfolio insurance: a rose by any other name

Trading volume and open interest in options and futures contracts on stock indices, equities, and interest rate instruments traded on world exchanges have experienced remarkable growth. However, this growth has been accompanied by controversy about the proper role of financial derivatives and the potential for abuse. Prominent attention has been given to losses by major corporations, broker-related short-term mutual funds, and municipal agencies.> The public debate about "derivatives" has promoted the impression that the heart of the problem has been a proliferation of brand new ways of ...
New England Economic Review , Issue Jul , Pages 25-46

Journal Article
Why the interest in reforming the International Monetary System?

The recent spate of severe financial crises has provoked an interest in international monetary reform not seen since the breakdown of the fixed exchange rate system 30 years ago. Indeed, the crises have forced both academic economists and policymakers to question some of their most basic assumptions about the appropriate design of the international monetary system. This article was the introductory paper at the Federal Reserve Bank of Boston's conference on "Rethinking the International Monetary System," held in June 1999. The article reviews recent changes in the economic environment that ...
New England Economic Review , Issue Sep , Pages 53-84

Journal Article
The practice of central banking in other industrialized countries

Central banks in larger industrialized countries increasingly favor market operations, the buying and selling of securities, over standing facilities, such as lending and deposit facilities, in conducting their monetary policies. In their market operations, foreign central banks most commonly trade securities issued or guaranteed by their governments and repurchase agreements that are backed by a variety of assets, including private securities and securities denominated in foreign currencies. Some also trade in securities that are issued by other governments or private securities that are ...
New England Economic Review , Issue Q 2 , Pages 3-9

Journal Article
How large are economic forecast errors?

Opinion about the reliability of economic forecasts ranges widely. Some argue that they are literally worthless, at the same time that most forecasters can point to a sequence of near perfect predictions. How much confidence should one place in economic forecasts? The errors vary with many factors. ; A crucial determinant of the size of forecast errors is the forecast period; some periods are very difficult to predict while others are relatively easy. By far the largest errors were the sustained underestimations of the acceleration of inflation in 1973-75 and again in 1978-80. In addition, ...
New England Economic Review , Issue Jul , Pages 25-42

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Kopcke, Richard W. 27 items

Little, Jane Sneddon 26 items

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