The Bernanke-Blinder credit-view model is expanded to encompass a small, open economy with fixed exchange rates. In contrast to conventional wisdom and traditional models, monetary policy is resurrected as a stabilization tool. We show that various financial sector shocks have real aggregate...

The Federal Election Campaign Act as passed in 1971 and amended in 1974 represented landmark federal legislation. It imposed new restrictions on campaign contributions and contained path-breaking provisions for the use of public funds to partially finance the campaigns of qualifying presidential...