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This paper examines fifteen historical episodes of stock market crashes and their aftermath in the United States over the last one hundred years. Our basic conclusion from studying these episodes is that financial instability is the key problem facing monetary policy makers and not stock market...
Persistent link: https://www.econbiz.de/10013217918
This piper provides an overview of U.S. macroeconomic policy andperformance in the 1980s by first outlining the behavior of key economicvariables and then discussing the policies that have affected thesevariables. After gaining some insight into the interaction between thesepolicies and...
Persistent link: https://www.econbiz.de/10013233873
This article examines the performance of various financial variables as predictors of subsequent U.S. recessions. Series such as interest rates and spreads, stock prices, currencies, and monetary aggregates are evaluated singly and in comparison with other financial and non-financial indicators....
Persistent link: https://www.econbiz.de/10013212897
Casual observation indicates that in recent years real interest rates in the United States appear to have risen sharply and have remained high relative to historical standards. Many observers have claimed that these high real rates have been transmitted abroad and have lead to high real rates in...
Persistent link: https://www.econbiz.de/10013313673