Journal Article
Aggregate price changes and price expectations
Fair, Ray C. (1970-11)
Review , Volume 52 , Issue Nov , Pages 18-28

Conference Paper
Estimated tradeoffs between unemployment and inflation
Fair, Ray C. (1984)
Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
The Cowles Commission approach, real business cycles theories, and New- Keynesian economics
Fair, Ray C. (1992)
Proceedings

Journal Article
Actual Federal Reserve policy behavior and interest rate rules
Fair, Ray C. (2001-03)
A popular way to approximate Federal Reserve policy is through the use of estimated interest rate equations, or policy "rules." In these rules, the dependent variable is the interest rate that the Federal Reserve is assumed to control and the explanatory variables are those factors assumed to affect Federal Reserve behavior. This article presents estimates of such a rule, using data from 1954:1-1999:3 but omitting the 1979:4-1982:3 period, when monetary targets were emphasized. Although the estimated coefficient on inflation is found to be larger in the post-1982 period, the difference is ...
Economic Policy Review , Issue Mar , Pages 61-72

Working Paper
Is monetary policy becoming less effective?
Fair, Ray C. (1995)
This paper estimates the amount by which the effectiveness of monetary policy in changing real output for a given change in interest rates has declined due to the increased size of the federal government debt.
Working Papers in Applied Economic Theory , Paper 95-05