Besides supply and demand, speculation is drawing a lot of attention these days as a cause of higher oil prices.

The increasingly rapid productivity growth that began in the 1990s was the defining economic event of the decade and a major topic of debate among Federal Reserve policymakers. A key aspect of the debate was the contrast between information contained in aggregate data, which initially suggested...

This paper provides the most fully comprehensive evidence to date on whether or not monetary aggregates are valuable for forecasting US inflation in the early to mid 2000s. We explore a wide range of different definitions of money, including different methods of aggregation and different...

We develop the principal component analysis (PCA) approach to systematic liquidity measurement by introducing moving and expanding estimation windows. We evaluate these methods along with traditional estimation techniques (full sample PCA and market average) in terms of ability to explain (1)...

Continuing increases in the price of energy have stimulated extensive research on energy demand and factor substitution in the U.S. economy. The manufacturing segment of the U.S. economy consumes approximately one-fourth of aggregate U.S. energy if measured by Btu consumption, and about 40...