Remarks at New York University's Stern School of Business, New York City.

This paper develops a model of the term structures of nominal and real interest rates driven by state variables representing the short-term real interest rate, expected inflation, inflation’s central tendency, and four volatility factors that follow GARCH processes. We derive analytical...

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.

Central banks are always concerned with keeping long-run inflation expectations well anchored at some implicit or explicit low target inflation rate. To that end, they are constantly on the lookout for indicators that can gauge those expectations accurately. One such indicator frequently...

Remarks by Brian P. Sack before the Money Marketeers of New York University, New York City.

Remarks at Fordham University's Gabelli School of Business, Bronx, New York.

Remarks before the Bronx Chamber of Commerce at the New York Botanical Garden, Bronx, New York.

Remarks at the at the Society of American Business Editors and Writers Fall Conference, City University of New York, Graduate School of Journalism, New York City.

We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any substantial reason for modifying the current mainstream mode of policy analysis, which frequently does not consider monetary aggregates at all. We begin by considering the body of...

Remarks at the Whitman School of Management at Syracuse University, Syracuse, New York.