<DIV>Since banking systems play a crucial role in maintaining the overall health of the economy, the adverse effects of poorly supervised systems may be quite severe. Without some form of vigilant external oversight, banking systems could fall prey to excessive risk taking, moral hazard, and...</div>

<DIV><DIV><I>A Rational Expectations Approach to Macroeconometrics</I> pursues a rational expectations approach to the estimation of a class of models widely discussed in the macroeconomics and finance literature: those which emphasize the effects from unanticipated, rather than anticipated, movements in...</i></div></div>

Money, Interest Rates and Inflation offers a coherent and informative assessment of how monetary policy affects the economy. In addition, the essays in this collection illustrate how rational expectations econometrics can be used in empirical research on a broad range of topics and issues. The...

AbstractThe following sections are included:IntroductionViews Before the CrisisLessons from the CrisisMacroprudential PolicyMonetary PolicyConclusionReferences

In recent years, the traditional business of banks--making long-term loans and funding them by issuing short--dated deposits-has declined. This development has raised concerns that more banks will fail or be forced to assume greater risk to remain profitable. This article first examines the...

We discuss the evolution in macroeconomic thought on the monetary policy transmission mechanism and present related empirical evidence. The core channels of policy transmission -- the neoclassical links between short-term policy interest rates, other asset prices such as long-term interest...