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September/October 1994

Posted 1994-09-01

Job Creation and Destruction: The Dominance of Manufacturing

by Joseph Ritter

Estimates of gross job creation and destruction give a deeper perspective on the ebb and flow of labor markets than the headline-grabbing announcements of net employment growth. Overall employment growth may be the result of lots of job creation cancelling much of the job destruction—or only a little of each.

Posted 1994-09-01

Boom or Bust? The Economic Effects of the Baby Boom

by Peter S. Yoo

Between 1947 and 1962, the population of the United States grew at an average annual rate near 2 percent. This large but temporary increase in the population growth rate, more familiarly called the baby boom, raises an interesting and important question: How do such large changes in the population growth rate affect a developed economy?

Posted 1994-09-01

Realignments of Target Zone Exchange Rate Systems: What Do We Know?

by Christopher J. Neely

The recent suspension of the European Union’s Exchange Rate Mechanism (ERM) has led to extensive discussion on the credibility of target zone exchange rate systems. Researchers would like to understand the circumstances associated with speculative attacks and the realignments of target zones for several reasons.

Posted 1994-09-01

A Case Study in Monetary Control: 1980-82

by R. Alton Gilbert

During the three years ending in the fall of 1982, the Federal Reserve implemented the monetary policy decisions of the Federal Open Market Committee (FOMC) by targeting nonborrowed reserves. Policymakers described this change in the operating procedure as an attempt to improve monetary control.


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