Paper for a conference sponsored by the Federal Reserve Bank of New York entitled Financial Innovation and Monetary Transmission

Paper for a conference sponsored by the Federal Reserve Bank of New York entitled Financial Innovation and Monetary Transmission

This article evaluates the ability of the yield spread to forecast real economic activity in 11 industrial countries. The first section of this article defines the yield spread and explains why the spread may be a useful predictor of real economic activity. The second section describes the data...

This article compares the 1990-91 recession and the surrounding period of unusually sluggish growth with earlier recessionary episodes. Using a variety of indicators, the author assesses the relative severity of the latest recession and identifies features that distinguish this period from its...

Straipsnyje analizuojami BVP ir infliacijos kitimo tempai bei jų įtaka vykdant bendrą pinigų politiką. Nustatyti BVP ir infliacijos tempų skirtumai parodė, kad Ekonominėje ir pinigų sąjungoje (EPS) egzistuoja asimetriniai paklausos bei pasiūlos šokai, kurie lemia tai, kad pinigų...