A large body of literature documents that returns from currency speculation are highly volatile and possess a predictable component, which is itself highly volatile and serially correlated. Explaining the returns from currency speculation through the presence of a risk premium has proven...

Standard real business cycle theory predicts that consumption should be smoother than output, as observed in developed countries. In emerging economies, however, consumption is more volatile than income. In this paper the authors provide a novel explanation of this phenomenon, the ‘consumption...

Society of American Business Editors and Writers Fall Conference, City University of New York (CUNY) Graduate School of Journalism. New York, NY. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He...

Lehigh Valley Partnership and Lehigh Valley Economic Development Corporation. Allentown, PA. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He also shares his thoughts about monetary policy and...