Search Results

Commentary on "Contract-Theoretic Approaches to Wages and Displacement" - Review

Commentary on "Contract-Theoretic Approaches to Wages and Displacement" by Wouter J. den Haan, Garey Ramey, and Joel Watson.

research.stlouisfed.org/.../commentary-on-contract-theoretic-approaches-to-wages-and-displacement

Is Inflation Too Low? - Review

Inflation, as measured by the consumer price index, seems to have settled at an annual rate of about 2 percent. Is that rate too low? In this article, William Poole, the president of the Federal Reserve Bank of St. Louis, states his belief that the Federal Reserve’s target should be zero inflation, abstracting from measurement errors in the price indices.

research.stlouisfed.org/publications/review/1999/07/01/is-inflation-too-low

The FOMC in 1998: Can It Get any Better Than This - Review

The U.S. economy turned in another solid performance during 1998, with faster real growth and employment gains, and lower inflation, than many observers had expected. From the standpoint of monetary policy, the year’s pivotal point occurred in August, when the Russian government defaulted on its domestic debt and devalued the ruble.

research.stlouisfed.org/.../review/1999/07/01/the-fomc-in-1998-can-it-get-any-better-than-this

Commentary on "Are Nominal Wage Changes Skewed Away From Wage Cuts?" - Review

Commentary on "Are Nominal Wage Changes Skewed Away From Wage Cuts?" by Kenneth J. McLaughlin.

research.stlouisfed.org/.../01/commentary-on-are-nominal-wage-changes-skewed-away-from-wage-cuts

Work Motivation - Review

This article formulates a somewhat speculative model of work motivation stimulated by interviews with 330 business people, labor leaders, counselors of unemployed workers, labor market intermediaries (headhunters), labor lawyers, and management consultants.  The model incorporates ideas from psychology into the utility-maximizing framework of economics.

research.stlouisfed.org/publications/review/1999/05/01/work-motivation

Commentary on "Work Motiviation" - Review

Commentary on "Work Motiviation" by Truman Bewley.

research.stlouisfed.org/publications/review/1999/05/01/commentary-on-work-motiviation

Can Market-Clearing Models Explain U.S. Labor Market Fluctuations? - Review

Throughout the past two decades, market-clearing models of the business cycle have been praised for their ability to explain key empirical features of the post-war U.S. business cycle. Real business cycle (RBC) theory shows that in a model grounded in microeconomic foundations, disturbances to national productivity can explain how aggregate variables such as GDP, consumption, and investment behave over time, relative to each other.

research.stlouisfed.org/.../07/01/can-market-clearing-models-explain-u-s-labor-market-fluctuations

Monetary Policy Rules - Review

A monetary policy rule is nothing more than a systematic decision-making process that uses information in a consistent and predictable way. In this article, Federal Reserve Bank of St. Louis President, William Poole, critically examines past instances when policy failed to deliver price stability.

research.stlouisfed.org/publications/review/1999/03/01/monetary-policy-rules

Going Down: The Asian Crisis and U.S. Exports - Review

The Asian financial and economic crisis has attracted much attention to the trade links among the United States and countries throughout Asia. Until the crisis, U.S. exports to East Asia were growing rapidly. In this article, the authors examine the abrupt decline in exports and provide estimates of the sizes of the export shock both to the U.S. economy as a whole and to specific sectors.

research.stlouisfed.org/.../review/1999/03/01/going-down-the-asian-crisis-and-u-s-exports

Seasonal Production Smoothing - Review

Empirical tests of the production-smoothing hypothesis have yielded mixed results. This article looks for and finds evidence of seasonal production smoothing in 15 out of 25 manufacturing series and 8 out of 10 retail series, using detrended seasonally unadjusted data.

research.stlouisfed.org/publications/review/1999/09/01/seasonal-production-smoothing