This article addresses the relationship between the eurodollar market and monetary control. It assumes throughout that the Federal Reserve System does not engage in eurodollar transactions or alter its monetary policy as a result of such transactions.
This paper reexamines the conclusions that have emerged from inadequate dynamic money demand forecasts. First, it presents a conventional money demand relationship and its post-1974 dynamic forecasts, along with a restatement of the conclusions drawn from such an investigation.
This paper presents a framework for analyzing fiscal policy that incorporates the interaction between government and the private sector in their spending and borrowing decisions. It shows that ambiguity surrounding the income multiplier for increased government expenditures results from the failure to model correctly the stock repercussions of changes in government spending and private investment.
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