Skip to main content

June/July 1986

Posted 1986-06-01

Forward Exchange Rates in Efficient Markets: The Effects of News and Changes in Monetary Policy Regimes

by Mack Ott and Paul T. W. M. Veugelers

Mack Ott and Paul T.W.M. Veugelers investigate the extent to which errors in forward exchange rate predictions of future spot exchange rates have been influenced, on the one hand, by changes in interest and inflation rates and, on the other, by changes in the policy stance of the U.S. monetary authority.

Posted 1986-06-01

How Federal Farm Spending Distorts Measures of Economic Activity

by John A. Tatom

John A. Tatom explains how transactions by the Commodity Credit Corporation (CCC) are treated in the National Income and Product Accounts (NIPA). Tatom shows that the volatile, quarter-to-quarter pattern of CCC payments to farmers affects measures of farm, business, government, and overall economic activity.