This paper presents a modeling framework that delivers joint forecasts of indicators of systemic real risk and systemic financial risk, as well as stress-tests of these indicators as impulse responses to structural shocks identified by standard macroeconomic and banking theory. This framework is...

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia> Delaware State Chamber of Commerce, DuPont Country Club, Wilmington, Delaware, May 7, 2010

A speech at the Middle Tennessee State University, Annual Economic Outlook Conference, Murfreesboro, Tenn., Sept. 29, 2006

This paper discusses the Poverty Reduction Strategy Paper—National Development Plan for the Democratic Republic of Timor-Leste. The plan has been a participative process, involving constituents in every sector of the economy to identify the problems they face and to suggest solutions to...

A speech at the Middle Tennessee State University, Annual Economic Outlook Conference, Murfreesboro, Tenn., Sept. 29, 2006

Macroeconomic imbalances are large, and structural problems are deep-rooted in Portugal. The new government’s strong commitment to program implementation is encouraging. Fiscal performance so far demonstrates the need to refocus the fiscal strategy on strong expenditure control, as...

This Article IV Consultation reports that the overall balance of the central government of Paraguay is expected to be in equilibrium, while the central bank intends to withdraw excess liquidity as necessary to limit inflation to no more than 5 percent. Executive Directors commended the...

Speculates about the US economy and whether it will recover, following the uncertainty due to terrorism in the West, occurring after the World Trade Centre and Pentagon attacks of 11 September 2001. States that not too many companies have experienced a stock market slump of real depth since the...

This article was originally presented as a speech at the Middle Tennessee State University Annual Economic Outlook Conference, Murfreesboro, Tennessee, September 29, 2006.

We start from the assertion that a useful monetary policy design should be founded on more realistic assumptions about what policymakers can know at the time when policy decisions have to be made. Since the Taylor rule - if used as an operational device - implies a forward looking behaviour, we...