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The yield curve, recessions, and the credibility of the monetary regime: long-run evidence, 1875-1997
Bordo, Michael D.; Haubrich, Joseph G. - Federal Reserve Bank of Cleveland - 2004
with low credibility (high persistence of inflation) tend to have better predictability. …
Persistent link: https://www.econbiz.de/10005428369
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U.S. foreign-exchange-market intervention during the Volcker-Greenspan era
Bordo, Michael D.; Humpage, Owen F.; Schwartz, Anna J. - Federal Reserve Bank of Cleveland - 2010
The Federal Reserve abandoned foreign-exchange-market intervention because it conflicted with the System’s commitment to price stability. By the early 1980s, economists generally concluded that, absent a portfolio-balance channel, sterilized foreign-exchange-market intervention did not provide...
Persistent link: https://www.econbiz.de/10008465777
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Monetary policy and asset prices: a look back at past U.S. stock market booms
Bordo, Michael D.; Wheelock, David C. - In: Review (2004) Nov, pp. 19-44
fundamentals. They find no consistent relationship between inflation and stock market booms, though booms have typically occurred …
Persistent link: https://www.econbiz.de/10005726045