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1985 Working Papers

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Monetary Mystique: Secrecy and Central Banking
By Marvin Goodfriend
Working Paper 85-7
Released: August 1985

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Logit Analysis of the Effect of Rent Control on Housing Quality
By David L. Mengle
Working Paper 85-6
Released: July 1985

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The Effect of Second Generation Rent Controls on the Quality of Rental Housing
By David L. Mengle
Working Paper 85-5
Released: November 1985

Microeconomic theory predicts that rent controls will lead to greater housing quality deterioration than would have been the case in an uncontrolled market. However, empirical analyses of rent control have concentrated on income dis- tribution effects...

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Monetary Policy, Secrecy, and Federal Funds Rate Behavior
By Michael Dotsey
Working Paper 85-4
Released: June 1985

The behavior of the Federal Reserve System can be characterized as secretive with respect to its control of monetary aggregates. One common justification for this secrecy is that markets will overreact to information, causing undue variability in ...

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The Recent Financial Deregulation and the Interest Elasticity of the Simple M1 Demand Function: An Empirical Note
By Yash P. Mehra
Working Paper 85-3
Released: November 1985

The main objective of this note is to examine whether the interest elasticity of money demand has increased during the last few vears. A simple money demand regression that includes additional intercept and slope dummv variables defined over the interval...

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Financial Innovation in the United States -- Background, Current Status and Prospects
By J. Alfred Broaddus, Jr.
Working Paper 85-2
Released: January 1985

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Base Drift and the Longer Run Growth of M1: Experience From a Decade of Monetary Targeting
By Marvin Goodfriend & J. Alfred Broaddus, Jr.
Working Paper 85-1
Released: January 1985

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