expected inflation. The inability of the Fed to maintain a credible commitment to low interest rates in the face of increased … government spending and rising inflation led to the Fed-Treasury Accord of March 1951. Following the Accord, the external …

Which provides a better estimate of the "true" state of the U.S. economy, gross domestic product (GDP) or gross … numerous situations beyond the case of combining GDP and GDI. For that particular case, we analyze various vintages of … estimates, developing models for combining GDP and GDI under the differing assumptions, and use revisions to show the news …

In the chaotic financial environment of Asia in 1997-1998, daily changes in stock prices of about 10 percent became …

systems like those in East Asia to short-term foreign currency exposure suggests that preventive measures are also required. …

We assess links between China and the rest of emerging Asia. Some commentators have argued that China’s apparent … important: The more-relevant exchange rate was a floating rate that was not devalued, and high Chinese inflation has led to a …

large current account surpluses across non-China emerging Asia, which have been a significant counterpart to the U … investment decisions in emerging Asia, and that as the restructuring completes its course, investment rates will likely rise to …

potentially nonlinear effects of inflation on economic growth. We find that inflation is associated with significantly lower … effects of inflation on economic growth. We also document significant variation in the effect of inflation on growth across …

groups in the dispersion of household-specific rates of inflation. Using survey data on inflation expectations, I show that … demographic groups with greater dispersion in experienced inflation also disagree more about future inflation. I argue that these … results can be rationalized from the perspective of an imperfect information model in which idiosyncratic inflation experience …