Remarks before the Greater Houston Partnership, Houston, Texas, September 1, 2010 ; "If the fiscal and regulatory authorities are able to dispel the angst that they are reportedly causing, further accommodation may not be needed because the liquidity that has been built up on corporate balance...

Remarks before Economic Club of Minnesota, Minneapolis, Minnesota, October 7, 2010 ; "There is a great deal of legitimate debate still to take place within the FOMC on the subject of quantitative easing and the pros and cons and costs and benefits of further monetary accommodation. Whatever we...

Remarks before the New York Association for Business Economics, New York, N.Y., October 19, 2010 ; "So. what will we likely decide at the next FOMC meeting? As with the American League championship, you'll find out when it's over and only then."

Remarks before the Vancouver Board of Trade, Vancouver, British Columbia, October 1, 2010 ; "Without exception, all the business leaders I interview cite nonmonetary factors--fiscal policy and regulatory constraints or, worse, uncertainty going forward--and better opportunities for earning a...

Remarks for the National Association for Business Economics Panel Discussion at the 2006 Allied Social Science Associations Meeting, Boston, Massachusetts, January 6, 2006 ; "By spurring productivity and fomenting tectonic economic changes, globalization has acted as a tailwind for the...

Remarks before the Association for Financial Professionals, San Antonio, Texas, November 8, 2010 ; "In sum, I asked that the FOMC consider that we might be prescribing the wrong medicine for the ailment from which our economy is suffering. Liquidity and abundant money are not the binding...

This paper analyzes how risk premia—and other factors affecting the comparative advantages of security-funded versus deposit-funded short-run debt—altered the relative use of debt funded by securities markets since the early-1960s and the relative use of commercial paper during the recent...

Oil price shocks are thought to have played a prominent role in U.S. economic activity. In this paper, we employ Bayesian methods with a dynamic stochastic general equilibrium model of world economic activity to identify the various sources of oil price shocks and economic fluctuation and to...

The consumption behaviour of U.K., U.S. and Japanese households is examined and compared using a modern Ando-Modigliani style consumption function. The models incorporate income growth expectations, income uncertainty, housing collateral and other credit effects. These models therefore capture...

Remarks Before CERAWeek, Houston, Texas, February 9, 2009. ; "Our senators and congressmen and -women must find a way to give our economic engine an activating short-term jolt without encumbering or disincentivizing the entrepreneurial dynamic that has made for the long-term economic miracle...