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“Basic features of business cycle properties under both exogenous and endogenous monetary policy rules are examined in calibrated dynamic stochastic general equilibrium models with nominal rigidities (the nominal wage contract model, the monopolistic c …
READ MORE“Federal Reserve Chairman Ben Bernanke warned Wednesday that “the federal budget appears to be on an unsustainable path,” but also recognized that an “exceptional increase” in the deficit had been necessary to ease the pain of recession. In nearly two …
READ MORE“Federal Reserve Chairman Ben S. Bernanke said the U.S. central bank will act as needed to aid financial stability and economic growth after restarting emergency currency-swaps to help contain Europe’s debt crisis. ‘Our ongoing international cooperatio …
READ MORE“Bernanke said yesterday at a Washington event that while the Fed will raise interest rates from a record low before the economy returns to “full employment,” officials don’t know when the process will start. The banking system isn’t fully healthy and …
READ MORE“Thomas Hoenig, the head of the Federal Reserve Bank of Kansas City, is cementing his reputation as the best friend of savers with money in the bank. Hoenig, who has a seat on the Fed’s interest-rate committee, on Thursday called for the central bank t …
READ MORE“In two weeks, I am supposed to speak on a panel entitled “Financial Re-regulation.” My question is, what re-regulation? To me, re-regulation means you would reverse some step that you took toward deregulation. But the new financial reform bill does no …
READ MOREThe problem of inflation is a major concern in economics; it gives rise to economic discoordination and affects the distribution of wealth. Among most economists, inflation is generally seen just as a sustained increase in the level of prices, and not …
READ MORE“With Congress getting close to finalizing an overhaul of the nation’s financial-regulatory system, Federal Reserve Chairman Ben Bernanke weighed in against provisions in the proposed legislation that would subject the central bank to more political sc …
READ MORE“The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus …
READ MORE“The causes of the global financial crisis of 2008 were almost entirely flaws in the credit system based on leverage, exotic financial instruments, and a sharp drop in American housing prices. Just as that cycle has begun to end, and GDP in major nati …
READ MORE“The era of laissez-faire capitalism is over, it is said, as if the era of laissez-faire capitalism ever really began. Still, globalization has helped open markets around the world. At a time of economic crisis, Benn Steil and Manuel Hinds mount a well …
READ MORE“Mike Van Winkle asks Prof. Bill Anderson of Frostburg State University What is a weak dollar? And why does it matter?” Listen in here. First Principles Episode 12: The weak dollar; does it matter? Via the Foundation for Economic Education. Image by re …
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