Large banks and critical financial market infrastructures (FMIs) that are not able to fulfill their payment obligations, for example following a bankruptcy or cyber-attack, can be a source of financial instability and contagion in the financial system. This paper develops a composite risk...

The main focus of the present paper is to analyze the impacts of financial policy on inflation rates. The analysis depended on time series data and was divided into theoretical and applied analytical framework. An econometric model was utilized to reflect the relations between financial policy...

The authors of this article review the late E. Lynn Turgeon's contributions to economics, including his studies of the Soviet economy, use of qualitative and demographic analyses, his Keynesian critique of U.S. economic performance, and his critique of international financial markets. Turgeon's...

This article focuses primarily on the monetary and exchange rate policies that are routinely promoted by the International Monetary Fund (IMF), an institution that is heavily influenced by U.S. Treasury Department views since the United States has an effective veto power in voting within the...

Monetary policy is hard. In the best of times, it requires a well-informed understanding of the economy and the ability to respond in a timely manner. In less favorable conditions, monetary policy requires near omniscience and the herculean power to stop economic disasters from unfolding.This...

This policy brief reports on the nominal GDP (NGDP) gap, a measure of the stance of US monetary policy, is the percent difference between the actual level and the neutral level of NGDP. The neutral level of NGDP is the dollar size of the economy when monetary policy has been neither expansionary...

This policy brief reports on the NGDP gap, a measure of unexpected changes in the dollar size of the US economy, is the percent difference between the actual and the neutral level of NGDP. The neutral level of NGDP, in turn, is a sum of all dollar incomes expected by households and businesses...

One of the most important questions facing the Federal Reserve (Fed) is also one of the hardest for it to answer: What is the current stance of monetary policy? The answer to this question is straightforward in theory, but is quite challenging to apply in practice. Despite many valiant efforts...

The global governance of large corporations or corporate governmentality changed over time through the penetration of the economy in all aspects of society but which has shaped the monetary system as an integral part of corporate governmentality and which gave it a big push in the last forty...