This paper examines old and new evidence on the predictive performance of asset prices for inflation and real output growth. We first review the large literature on this topic, focusing on the past dozen years. We then undertake an empirical analysis of quarterly date on up to 38 candidate...

In this paper we assess the role of asset prices as information variables for aggregate demand conditions and in the transmission of monetary policy. A Monetary Conditions Index, a weighted average of the short-term interest rate and the exchange rate, has commonly been used as a composite...

Remarks before the Center for the Study of American Business, Washington University, St. Louis - July 29, 1999

Presentation to the Midwest Economic Education Conference, St. Louis - April 11, 2002

Presentation to the Midwest Economic Education Conference, St. Louis - April 11, 2002

Remarks before the Center for the Study of American Business, Washington University, St. Louis - July 29, 1999