The likelihood of such spillover effects from the farm economy to the aggregate economy is the subject of “The Farm Credit Crisis: Will It Hurt the Whole Economy?” by Michael T. Belongia and R. Alton Gilbert. Whether farm loan losses will harm aggregate economic activity is quite important since, to a large extent, greater federal aid to farmers and their lenders is being justified by some legislators on this basis.
Mack Ott and G. J. Santoni discuss the recent increase in corporate takeover activity and examine a number of criticisms that have been leveled at this method of changing corporate ownership. Instability in financial markets and the misdirection of corporate planning to short-term goals have been attributed to corporate takeovers.
R. Alton Gilbert describes a method of adjusting the monetary base for its new seasonal patterns under contemporaneous reserve requirements and compares the new series that derived using the previous seasonal adjustment procedure.
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