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March/April 2004

Posted 2004-03-01

A Perspective on U.S. International Trade

by William Poole

The author addresses three questions: Why do economists support free trade policies? What are the reasons for public opposition? What can be done to narrow the gap between economists and those opposed to free trade?

Posted 2004-03-01

State Government Finances: World War II to the Current Crises

by Thomas A. Garrett and Gary A. Wagner

This article examines the current state budget crises against the historical backdrop of past crises and states' evolving recipes for tax revenue.

Posted 2004-03-01

The Federal Reserve Responds to Crises: September 11th Was Not the First

by Christopher J. Neely

This article examines the role the Fed has played in mitigating the financial impact of recent crises (including the 9/11 attacks).

Posted 2004-03-01

Timeless Perspective vs. Discretionary Monetary Policy in Forward-Looking Models

by Bennett T. McCallum and Edward Nelson

On the Timeless Perspective: This article examines the distinction between the timeless perspective and discretionary modes of monetary policymaking.