In this paper, we examine the empirical relationship between financial repression, financial development, and growth. Theory has developed in which financial repression and growth are linked. The main contribution of this paper is to look at two parts. First, what, if any, is the empirical link...

This paper tests the hypothesis that average interest rates for ten categories of commercial loans (short-term and long-term loans in five size classes) in the regions of the United States behave as if they were generated in an integrated national market. The tests, derived from two models of...

The authors forecast current-quarter real GDP growth using monthly data that would have been available to an analyst in real time. They demonstrate that using real-time data is of major importance both when estimating GDP forecasting models and when evaluating their performance. Moreover, the...