#2007-011A "Handicapping Currency Design: Counterfeit Deterrence and Visual Accessibility in the United States and Abroad"
by Marcela M. Williams, and Richard G. Anderson
March 2007
Revised June 2007

Despite the increasing use of electronic payments, currency retains an important role in the payment system of every country. In this article, the authors compare and contrast tradeoffs among currency design features, including those primarily intended to deter counterfeiting and ones to improve usability by the visually impaired. More...

PUBLISHED: Federal Reserve Bank of St. Louis Review, September/October 2007, 89(5), pp. 371-414

#2005-048B "The Effectiveness of Monetary Policy"
by Robert H. Rasche, and Marcela M. Williams
June 2005
Revised July 2005

The analysis addresses changing views of the role and effectiveness of monetary policy, inflation targeting as an "effective monetary policy," monetary policy and short-run (output) stabilization, and problems in implementing a short-run stabilization policy. More...

PUBLISHED: The Effectiveness of Stabilization Policy, Bank of Korea International Conference 2005