We investigate if and how gas price volatility can be explained on the basis of market fundamentals. We depart from the Kanamura (2009) supply and demand based volatility model. We generalize this model to account for a variety of demand and supply relationships. We investigate daily natural gas...

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.

Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.

Remarks at the National Association for Business Economics Annual Meeting, New York City.

A rich literature from the 1970s shows that as inflation expectations become more and more ingrained, monetary policy loses its stimulative effect. In the extreme, with perfectly anticipated inflation, there is no trade-off between inflation and output. A recent literature on the interest-rate...

The fertilizer sector in Zimbabwe has evolved over the years in response to different policy changes based on the government’s priorities on agricultural development. The industry grew from the 1930s that targeted primarily large scale commercial farmers, through the liberalization period of...

Although both large and small businesses felt the sting of job losses during the 2007-09 downturn, small firms experienced disproportionate declines. A study of the recession’s employment effect on small firms suggests that poor sales and economic uncertainty were the main reasons for their...