This paper examines President Obama's rhetoric concerning financial regulation during 2009-10, during legislative action on financial reform. The study evaluates the use of basic automated textual analysis. This requires addressing a number of unresolved analytical issues. This study offers some...

Is monetary policy transmitted through markets for intermediate goods? Analyzing US data on corporate linkages, we document that the financial health of downstream and upstream firms plays a key role in monetary policy transmission. Our estimates suggest that contractionary changes in monetary...

"From the man who predicted the worst economic crisis in US history comes Jim Rickards second prediction the collapse of our global economy.The supply chain crisis is coming to a head. Today, your favorite products are missing from store shelves, caught in supply chain limbo somewhere in the...

We study the implications of global supply chains for the design of monetary policy, using a small-open economy New Keynesian model with multiple stages of production. Within the family of simple monetary policy rules with commitment, a rule that targets separate producer price inflation at...

We study the implications of global supply chains for the design of monetary policy, using a small-open economy New Keynesian model with multiple stages of production. Within the family of simple monetary policy rules with commitment, a rule that targets separate producer price inflation at...

This paper starts by documenting a new fact that consumer price index (CPI) and producer price index (PPI) used to move in tandem within a given country around the world, but start to diverge after 2000. Understanding the source of divergence is important as it potentially affects optimal...