Over the past quarter century, labor’s share of income in the United States has trended downwards, reaching its lowest level in the postwar period after the Great Recession. Detailed examination of the magnitude, determinants and implications of this decline delivers five conclusions. First,...

Long half-lives of real exchange rates are often used as evidence against monetary sticky price models. In this study we show how exchange rate regimes alter the long-run dynamics and half-life of the real exchange rate, and we recast the classic defense of such models by Mussa (1986) from an...

Remarks at the Central Bank Independence Conference—Progress and Challenges in Mexico, Mexico City, Mexico.

Since 1977, the Federal Reserve has operated under a mandate from Congress to "promote effectively the goals of maximum employment, stable prices, and moderate long term interest rates" — what is now commonly referred to as the Fed's "dual mandate." The idea that the Fed should pursue multiple...

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, Global Interdependence Center's Central Banking Series: Recovery 2013 — Strength or Stagnation?, Milan, Italy, May 16, 2013 ; Note: President Plosser presented similar remarks on May...

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia. Bundesbank — Federal Reserve Bank of Philadelphia Spring 2012 Research Conference, Eltville, Germany, May 25, 2012

Cato Institute's 31st Annual Monetary Conference — Was The Fed a Good Idea? November 14, 2013, Washington, D.C. President Charles I. Plosser proposes setting limits on the Federal Reserve so that it can better fulfill what he believes is its essential role. He considers restrictions on the...

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia. The Philadelphia Fed Policy Forum: “Budgets on the Brink: Perspectives on Debt and Monetary Policy.” December 2, 2011>