Post-1990 Chinese monetary policy is modeled with a McCallum-type rule that takes into account the People's Bank of China's emphasis on targeting the rate of money supply growth. People's Bank policy appears responsive to the gap between target and actual nominal GDP as well as to external...

Previous work found the racial composition of NBA teams to be positively correlated with the racial composition of their metropolitan markets in the 1980s.We find continued evidence of this relationship during the 1990s, with accompanying revenue gains from the inclusion of White players on...

The fate of the distressed debt issued by the 1836-1845 Republic of Texas has received surprisingly little attention. Annexation by the United States was almost certainly a necessary condition for the debt rising from the pennies-on-the-dollar values seen in the early 1840s. But the largest...

The very low interest rates and inflation rates of recent years has generated renewed interest in alternative policies that would not leave central banks trapped by the zero lower bound on nominal interest rates. Amongst this debate, surprisingly little attention has been paid to the possibility...

Previous studies, using data from the 1980s, found that racial composition of NBA teams is positively correlated with racial composition of the metropolitan markets in which the teams are located. Researchers have interpreted this evidence as consistent with a customer discrimination hypothesis....

During the Civil War the Arkansas legislature funded their expenditures primarily through interest-bearing warrants and war bonds. After these issues were made legal tender in November 1861, the discount attributed to them disappeared immediately and they began to circulate widely. By mid- 1862...

This paper identifies a sharp decline in the volatility of consol prices after the end of the Napoleonic wars in 1815. The volatility of consol returns drops by more than half after 1815 and our empirical testing confirms a long period of remarkable stability that includes the entire Victorian...

Die Geldpolitik der Schweiz: die Unabhängigkeit der Zentralbank und ihre Stabilisierungsziele Von allen Zentralbanken der Welt erfreut sich die Schweizerische Nationalbank (SNB) wohl der größten Autonomie. Im Rahmen der OECD-Länder lag die Schweiz während der Periode 1960 – 83 in bezug...

This paper examines relative stock market performance following the onset of the coronavirus pandemic for a sample of 80 stock markets. Weekly data on coronavirus cases and deaths are employed alongside Oxford indices on each nation's stringency and government support intensity. The results are...

More than half of the assets in China's banking system are accounted for by four huge state-owned commercial banks. This paper examines the changing factors influencing these banks' lending behavior over the post-1994 period on a province-by-province basis. Determinants include the concentration...