John A. Tatom explains why some measures of U.S. investment performance look relatively weak in this decade. According to Tatom, recent real business fixed investment measures are the highest in nearly 60 years, especially when adjusted for the relatively larger amounts of unused plant and equipment compared with that during previous investment booms.
Michelle R. Garfinkel examines the various economic factors that influenced the deliberations and decisions of the Federal Open Market Committee in 1988.
Gerald P. Dwyer Jr. and R. W. Hafer investigate whether announcements of government statistics systematically affect interest rates. To analyze the effects of such announcements, the authors examine the behavior of changes in the 3-month Treasury bill rate and the 30-year government bond rate around days on which government statistics are first made public.
Ott analyzes the controversy surrounding this transformation and the validity of the concerns about the economic implications of foreign ownership of U.S. assets.
H. Robert Heller examines the role of money and monetary stability and the choice between a national or an international monetary standard.
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