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Persistent link: https://www.econbiz.de/10010494049
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing...
Persistent link: https://www.econbiz.de/10012475653
In this paper we reassess the cyclical performance of the French economy in the 1920s, focusing in particular on the … exports as a share of GDP turned down as early as 1928, the economy continued to expand for several subsequent years …. Investment, not exports, emerges as the proximate source of the French economy's resistance to the Great Depression. And fiscal …
Persistent link: https://www.econbiz.de/10012477005
The Great Depression of the 1930s and the Great Credit Crisis of the 2000s had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the...
Persistent link: https://www.econbiz.de/10012463125
Persistent link: https://www.econbiz.de/10010466885
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U.S. macroeconomy. The model includes GDP growth, inflation, the...
Persistent link: https://www.econbiz.de/10008697545
occurred from 2000 through 2007 and describe how they affected the performance of the U.S. economy. Declining coefficients in …
Persistent link: https://www.econbiz.de/10012455987
Persistent link: https://www.econbiz.de/10011752877
expanding world economy was dollar balances. The role of the United States was to act as banker to the world, borrowing short …
Persistent link: https://www.econbiz.de/10012471141
While many political scientists and diplomatic historians see the Bush presidency as a distinctive epoch in American foreign policy, we argue that there was no Bush Doctrine in foreign economic policy. The Bush administration sought to advance a free trade agenda but could not avoid the use of...
Persistent link: https://www.econbiz.de/10012464815