The decline in the growth rate of the national economy as shown in the statistics of the first half of 1986 has aroused the concern of theoreticians. Some people regard this as a danger signal and cast blame on the policy of macroeconomic control carried out since 1985. Others believe that a...

The Committee on Capital Markets Regulation issued an Interim Report (known as the "Paulson Report") near the end of 2006 that concluded that the U.S. "is losing its leading competitive position as compared to stock markets and financial centers abroad." This report was quickly followed by a...

This paper outlines the fundamental economic forces that have led to the decline in traditional banking, that is the process of making loans and funding them by issuing short-dated deposits. The declining competitiveness of traditional banking may threaten financial stability by increasing bank...

The performance of managed commodity fund investments during the years l982 through 1996 is examined, both as stand‐alone investments and as assets in diversified stock and bond portfolios. Nine stylized commodity fund investments are examined: randomly‐selected, single‐CTAs, pool, and...