Dallas S. Batten and Michael T. Belongia attempt to separate fact from fiction in the debate over monetary policy’s role in determining the value of the dollar and the effect of exchange rate movements on the volume of U.S. agricultural exports.
Michael T. Belongia and G. J. Santoni discuss the problem of interest rate risk facing depository institutions in an era of financial deregulation and volatile interest rates. The authors use simple examples to show how changes in interest rates affect a depository institution’s equity value.
Daniel L. Thornton examines whether the Federal Reserve’s adoption of a system of contemporaneous reserve requirements (CRR) in February 1983 has had any noticeable effects on the variability of money growth and interest rates.
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