The Fed's Monetary Policy Rule
This article was originally presented as a speech at the Cato Institute, Washington, D.C., October 14, 2005.
This article was originally presented as a speech at the Cato Institute, Washington, D.C., October 14, 2005.
The size of the U.S. federal government, as well as state and local governments, increased dramatically during the 20th century. This article reviews several theories of government size and growth that are dominant in the public choice and political science literature.
This article describes subprime lending in the mortgage market and how it has evolved through time. Subprime lending has introduced a substantial amount of risk-based pricing into the mortgage market by creating a myriad of prices and product choices largely determined by borrower credit history (mortgage and rental payments, foreclosures and bankruptcies, and overall credit scores) and down payment requirements.
Since 1990, the banking sector has experienced enormous legislative, technological, and financial changes, yet research into the causes of bank distress has slowed. One consequence is that traditional supervisory surveillance models may not capture important risks inherent in the current banking environment.
This article discusses the linkages between two recent themes in economic research: "real time" data and replication. These two themes share many of the same ideas, specifically, that scientific research itself has a time dimension.