Remarks at 2010 CFA Institute Fixed Income Management Conference, Newport Beach, California.

Presentation at the 22nd Henry Thornton Lecture, City University Business School, London, England - Nov. 28, 2000

The potential advantages from the introduction of Treasury inflation-protected securities (TIPS) in 1997 have not been fully realized, mainly because TIPS are less liquid than nominal Treasury securities. The lack of liquidity is thought to adversely affect TIPS prices relative to prices of...

In 1980's, a new convention emerged in the economics profession - that central banks' primary, even sole, responsibility should be controlling consumer price inflation. By the 1990's, this view was gaining credibility in policy circles, and various countries mandated that their central banks...

Recognizing the need to improve the quality of financial disclosure by private sector firms in Latin America and the Caribbean, the Inter-American Development Bank sponsored a conference in September 29-30, 1997 entitled Financial Disclosure and the Development of Financial Markets: The Impact...

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the Flesch-Kincaid grade level, a standard readability...