Search Results

Will the Removal of Regulation Q Raise Mortgage Interest Rates? - Review

This article presents a brief history of deposit interest rate ceilings in the United States and their effects. It then describes the process established by recent legislation for eliminating ceilings and its likely impact on the interest rates.

research.stlouisfed.org/.../12/01/will-the-removal-of-regulation-q-raise-mortgage-interest-rates

Navigating Through the Interest Rate Morass: Some Basic Principles - Review

In ancient times, the Delphic oracle was renowned for providing cryptic, often meaningless, answers to important questions. In recent times, this Delphic tradition has seemingly inspired much of the popular discussion about the causes and consequences of interest rate movements. 

research.stlouisfed.org/.../01/navigating-through-the-interest-rate-morass-some-basic-principles

Trends in Federal Revenues: 1955-86 - Review

The Reagan administration has proposed some major changes in the federal tax structure as part of its economic plan for the early 1980s. This article discusses the effects of these tax cuts on federal revenues. 

research.stlouisfed.org/publications/review/1981/05/01/trends-in-federal-revenues-1955-86

Trends in Federal Spending: 1955-86 - Review

The Reagan administration has embarked on an ambitious program to slow the growth of federal spending, a program that is part of an overall economic plan to reduce inflation and promote sustainable economic growth. 

research.stlouisfed.org/publications/review/1981/11/01/trends-in-federal-spending-1955-86

The FOMC in 1980: A Year of Reserve Targeting - Review

On October 6, 1979, the Federal Reserve announced the beginning of a new approach to the implementation of monetary policy it would attempt to achieve better control of the growth of the monetary aggregates by “placing greater emphasis in day-to-day operations on the supply of hank reserves and less emphasis on confining short-term fluctuations in the federal funds rate.” 

research.stlouisfed.org/.../review/1981/08/01/the-fomc-in-1980-a-year-of-reserve-targeting

Indexation of Social Security Benefits—A Reform in Need of Reform - Review

This article examines the role that the price indexing of benefits has played in creating financing problems, particularly in the short term. The article shows that the use of the consumer price index for indexing probably has overstated the benefit increases necessary to keep the purchasing power of benefits constant and that price indexing is inconsistent with the way benefits are funded. 

research.stlouisfed.org/.../06/01/indexation-of-social-security-benefitsa-reform-in-need-of-reform

Much Ado About M2 - Review

Since the observed growth rates of the monetary aggregates, M1B and M2, often diverge, monetary policymakers, their advisors, and “Fed watchers” naturally question which aggregate is a better measure on which to focus in conducting monetary policy. 

research.stlouisfed.org/publications/review/1981/10/01/much-ado-about-m2

How Controllable is Money Growth - Review

It is becoming increasingly popular to assert that money growth cannot be controlled and, therefore, that monetary policy should stop targeting monetary growth and try to control other variables that may affect economic activity and the rate of inflation. 

research.stlouisfed.org/publications/review/1981/04/01/how-controllable-is-money-growth

An Econometric Model Incorporating the Supply-Side Effects of Economic Policy - Review

Michael Evans discusses the implications of the supply-side macroeconometric model he recently developed. According to Evans, stimulating investment is a key to supply-side policy because it will both increase real growth and moderate inflation. Evans finds that investment would be significantly stimulated by reductions in tax rates, regardless of whether the tax cuts apply to corporate income, personal income, or capital gains. 

research.stlouisfed.org/.../

Income and Payroll Tax Policy and Labor Supply - Review

Jerry Hausman presents evidence on the effects of income and payroll taxes on labor supply. Hausman emphasizes that while supply-side economics has focused attention on the labor supply and revenue effects of changes on tax rates, the correct measure of the economic cost of taxation is the deadweight loss associated with taxation.

research.stlouisfed.org/.../review/1981/05/01/income-and-payroll-tax-policy-and-labor-supply