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Hot money
Chari, V.V.; Kehoe, Patrick J. - Federal Reserve Bank of Minneapolis - 2003
together with standard debt default problems lead to volatile capital flows resembling hot money and financial crises. We show …
Persistent link: https://www.econbiz.de/10005498548
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U.S. real exchange rate fluctuations and relative price fluctuations
Betts, Caroline M.; Kehoe, Timothy J. - Federal Reserve Bank of Minneapolis - 2004
This paper studies the relation between the United States? bilateral real exchange rate and the associated bilateral relative price of nontraded goods for five of its most important trade relationships. Traditional theory attributes fluctuations in real exchange rates to changes in the relative...
Persistent link: https://www.econbiz.de/10005712333
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Thoughts on the Federal Reserve System's exit strategy
Chari, V.V. - Federal Reserve Bank of Minneapolis - 2010
How can banks and similar institutions design optimal compensation systems? Would such systems conflict with the goals of society? This paper considers a theoretical framework of how banks structure job contracts with their employees to explore three points: the structure of a socially optimal...
Persistent link: https://www.econbiz.de/10008616912
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Inflation, money, and output under alternative monetary standards
Rolnick, Arthur J.; Weber, Warren E. - Federal Reserve Bank of Minneapolis - 1994
operates and the rate of inflation it experiences. It also explores whether there are other properties of inflation, money, and … basis for our study is price, money, and output data for 15 countries that have operated under both types of monetary … we are able to establish several facts about the differences in inflation, money growth, and output growth between …
Persistent link: https://www.econbiz.de/10005367720
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A unified framework for monetary theory and policy analysis
Lagos, Ricardo; Wright, Randall - Federal Reserve Bank of Minneapolis - 2004
Search-theoretic models of monetary exchange are based on explicit descriptions of the frictions that make money …
Persistent link: https://www.econbiz.de/10005712308
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New Monetarist Economics: methods
Williamson, Stephen D.; Wright, Randall - Federal Reserve Bank of Minneapolis - 2010
This essay articulates the principles and practices of New Monetarism, our label for a recent body of work on money …
Persistent link: https://www.econbiz.de/10008468113
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New Monetarist Economics: models
Williamson, Stephen D.; Wright, Randall - Federal Reserve Bank of Minneapolis - 2010
body of recent work on money, banking, payments systems, asset markets, and related topics. A key principle in New … inflation, the relationship between money and capital accumulation, and the Phillips curve. We also extend the benchmark model …
Persistent link: https://www.econbiz.de/10008468116
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Inflation and money growth under alternative monetary standards
Rolnick, Arthur J.; Weber, Warren E. - Federal Reserve Bank of Minneapolis - 1994
Persistent link: https://www.econbiz.de/10005526369
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Technology capital and the U.S. current account
McGrattan, Ellen R.; Prescott, Edward C. - Federal Reserve Bank of Minneapolis - 2009
The U.S. Bureau of Economic Analysis (BEA) estimates the return on investments of foreign subsidiaries of U.S. multinational companies over the period 1982?2006 averaged 9.4 percent annually after taxes; U.S. subsidiaries of foreign multinationals averaged only 3.2 percent. Two factors distort...
Persistent link: https://www.econbiz.de/10005712321
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Time-varying risk and international portfolio diversification with contagious bear markets
Santis, Giorgio De; Gerard, Bruno - Federal Reserve Bank of Minneapolis - 1995
In this paper we estimate and test a conditional version of the international CAPM. By using a parsimonious parameterization recently proposed by Ding and Engle (1994), we allow risk premia, betas, and correlations to very through time and test the cross-section restrictions of the model using a...
Persistent link: https://www.econbiz.de/10005712947