This paper examines two explanations for the recent spate of complaints about crossborder monetary policy spillovers and calls for international monetary policy coordination, a development that contrasts sharply with the monetary system in the 1980s, 1990s and until recently. The first...

This paper examines the 100-fold increase in reserve balances at the Fed during the second half of 2008. By looking at the balance sheet of the Fed and the factors influencing the supply and demand for reserves, the paper shows that the increase was due to large purchases of securities and loans...

My remarks focus on the relationship between monetary policy and the recent turmoil in the markets for housing, housing finance, and beyond. I begin with a review of the period leading up to the crisis. I then use this review as a basis for discussing the role of monetary policy in resolving...

This paper presents a study of risk management in a hospital within the UK. National Health Service which attempts to rehabilitate offenders with learning disabilities. Analysis is based on the metaphor of a 'risk escalator'. Health and social care systems can be characterised as risk escalators...

Exploring the implications for peripheral regions of UK telecommunications policy, this article examines how alternative regionally-based policy initiatives may be developed. The Scottish Highlands and Islands Initiative provides a case study in the synthesis of telecommunications, information...

Recently, we evaluated a fiscal consolidation strategy for the United States that would bring the government budget into balance by gradually reducing government spending relative to GDP to the ratio that prevailed prior to the crisis (Cogan et al, JEDC 2013). Specifically, we published an...