Our Research Focus

Inflation and Monetary Policy

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We examine the causes and consequences of inflation and the monetary policy levers available to central bankers. Recent papers have looked at the structural relationship between inflation and real economic activity, rules-based approaches to monetary policy, and the importance of credibility to maintaining price stability.

 
Issue Title Author(s)
First Quarter 2010 Introduction to the Special Issue on the Diamond-Dybvig Model Edward S. Prescott
First Quarter 2010 Bailouts Edward J. Green
First Quarter 2010 On the Fundamental Reasons for Bank Fragility Huberto M. Ennis
Todd Keister
First Quarter 2010 Inside-Money Theory after Diamond and Dybvig Ricardo de O. Cavalcanti
First Quarter 2010 Monetary Theory and Electronic Money: Reflections on the Kenyan Experience William Jack
Tavneet Suri
Robert Townsend
Fall 2009 Inventories and Optimal Monetary Policy Thomas A. Lubik
Wing Leong Teo
Summer 2009 Short-Term Headline-Core Inflation Dynamics Yash P. Mehra
Devin Reilly
Spring 2009 Monetary Policy in the 2008--2009 Recession Robert L. Hetzel
Winter 2009 Indeterminacy from Inflation Forecast Targeting: Problem or Pseudo-Problem? Bennett T. McCallum
Winter 2009 Consumption Smoothing and the Measured Regressivity of Consumption Taxes Kartik B. Athreya
Devin Reilly
Fall 2008 Introduction to the New Keynesian Phillips Curve Andreas Hornstein
Fall 2008 The Phillips Curve and U.S. Macroeconomic Policy: Snapshots, 1958-1996 Robert G. King
Fall 2008 The New Keynesian Phillips Curve: Lessons From Single-Equation Econometric Estimation James M. Nason
Gregor W. Smith
Summer 2008 New Keynesian Economics: A Monetary Perspective Stephen D. Williamson
Summer 2008 Nominal Frictions, Relative Price Adjustment, and the Limits to Monetary Policy Alexander L. Wolman
Summer 2008 Understanding Monetary Policy Implementation Huberto M. Ennis
Todd Keister
Spring 2008 Limits to Redistribution and Intertemporal Wedges: Implications of Pareto Optimality with Private Information Borys Grochulski
Spring 2008 On the Sources of Movements in Inflation Expectations: A Few Insights from a VAR Model Yash P. Mehra

Spring 2008 What is the Monetary Standard, Or, How Did the Volcker-Greenspan FOMCs Tame Inflation? Robert L. Hetzel
Fall 2007 Evolving Inflation Dynamics and the New Keynesian Phillips Curve Andreas Hornstein
Fall 2007 Non-Stationarity and Instability in Small Open Economy Models Thomas A. Lubik
Summer 2007 Inflation and Unemployment: A Layperson's Guide to the Phillips Curve Jeffrey M. Lacker
John A. Weinberg
Summer 2007 A Taylor Rule and the Greenspan Era Yash P. Mehra
Brian D. Minton
Spring 2007 Interest on Reserves and Daylight Credit Huberto M. Ennis
John A. Weinberg
Fall 2006 Bond Price Premiums Alexander L. Wolman
Summer 2006 Inflation Uncertainty and the Recent Low Level of the Long Bond Rate Yash P. Mehra
Summer 2006 Making the Systematic Part of Monetary Policy Transparent Robert L. Hetzel
Spring 2006 Implementation of Optimal Monetary Policy Michael Dotsey
Andreas Hornstein
Winter 2006 Discretionary Policy and Multiple Equilibria Robert G. King
Fall 2005 Monetary Policy and the Term Structure of Interest Rates Bennett T. McCallum
Fall 2005 Trend Inflation, Firm-Specific Capital, and Sticky Prices Andreas Hornstein
Alexander L. Wolman
Spring 2005 Limited Participation and the Neutrality of Money Stephen D. Williamson
Spring 2005 What Difference Would an Inflation Target Make? Robert L. Hetzel
Winter 2005 Inflation and Changing Expenditure Shares Alexander L. Wolman
Fan Ding
Summer 2004 Sustaining Price Stability J. Alfred Broaddus, Jr.
Marvin Goodfriend
Summer 2004 Monetary Policy in the New Neoclassical Synthesis: A Primer Marvin Goodfriend
Summer 2004 How Do Central Banks Control Inflation? Robert L. Hetzel
Summer 2004 Predicting the Recent Behavior of Inflation Using Output Gap-Based Phillips Curves Yash P. Mehra
Spring 2004 Monetary Policy and the Adjustment to Country-Specific Shocks Margarida Duarte
Spring 2004 Which Price Index Should a Central Bank Employ? Roy H. Webb
Winter 2004 Macroeconomic Principles and Monetary Policy J. Alfred Broaddus, Jr.
Fall 2003 Why Does Consumer Sentiment Predict Household Spending? Yash P. Mehra
Elliot W. Martin
Summer 2003 Japanese Monetary Policy and Deflation Robert L. Hetzel
Summer 2003 The Euro and Inflation Divergence in Europe Margarida Duarte
Spring 2003 Monetary Policy in a Low Inflation Environment J. Alfred Broaddus, Jr.
Winter 2003 Japanese Monetary Policy, 1991-2001 Bennett T. McCallum
Winter 2003 Potential Consequences of Linear Approximation in Economics Alexander L. Wolman
Elise A. Couper
Fall 2002 The Phases of U.S. Monetary Policy: 1987 to 2001 Marvin Goodfriend
Fall 2002 Expectations and the Term Structure of Interest Rates: Evidence and Implications Robert G. King
André Kurmann
Summer 2002 Survey Measures of Expected Inflation: Revisiting the Issues of Predictive Content and Rationality Yash P. Mehra
Winter 2002 Pitfalls in Interpreting Tests of Backward-Looking Pricing in New Keynesian Models Michael Dotsey
Winter 2002 Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence Bennett T. McCallum
Fall 2001 A Primer on Optimal Monetary Policy with Staggered Price-Setting Alexander L. Wolman
Fall 2001 International Pricing in New Open-Economy Models Margarida Duarte
Summer 2001 Transparency in the Practice of Monetary Policy J. Alfred Broaddus, Jr.
Spring 2001 Using the Federal Funds Futures Market to Predict Monetary Policy Actions Raymond E. Owens
Roy H. Webb
Winter 2001 What Assets Should the Federal Reserve Buy? Marvin Goodfriend
J. Alfred Broaddus, Jr.
Winter 2001 Why We Need an "Accord" for Federal Reserve Credit Policy: A Note Marvin Goodfriend
Fall 2000 The Frequency and Costs of Individual Price Adjustment Alexander L. Wolman
Fall 2000 Is Money Useful in the Conduct of Monetary Policy? Lawrence Santucci
Michael Dotsey
Carl D. Lantz
Summer 2000 Wage-Price Dynamics: Are They Consistent with Cost Push? Yash P. Mehra
Summer 2000 The New IS-LM Model: Language, Logic, and Limits Robert G. King
Spring 2000 The Taylor Rule: Is It a Useful Guide to Understanding Monetary Policy? Robert L. Hetzel
Winter 2000 Current Challenges for U.S. Monetary Policy J. Alfred Broaddus, Jr.
Winter 2000 The Role of a Regional Bank in a System of Central Banks Marvin Goodfriend
Winter 2000 Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan Bennett T. McCallum
Fall 1999 Explaining the Increased Variability in Long-Term Interest Rates Mark W. Watson
Summer 1999 The Importance of Systematic Monetary Policy for Economic Activity Michael Dotsey
Spring 1999 A Forward-Looking Monetary Policy Reaction Function Yash P. Mehra
Winter 1999 Japanese Monetary Policy: A Quantity Theory Perspective Robert L. Hetzel
Fall 1998 Staggered Price Setting and the Zero Bound on Nominal Interest Rates Alexander L. Wolman
Fall 1998 Fisher's Equation and the Inflation Risk Premium in a Simple Endowment Economy Pierre-Daniel G. Sarte
Summer 1998 Using the Term Structure of Interest Rates for Monetary Policy Marvin Goodfriend
Summer 1998 The Predictive Content of the Interest Rate Term Spread for Future Economic Growth Michael Dotsey
Spring 1998 The Bond Rate and Actual Future Inflation Yash P. Mehra
Winter 1998 Arthur Burns and Inflation Robert L. Hetzel
Fall 1997 Zero Inflation and the Friedman Rule: A Welfare Comparison Alexander L. Wolman
Summer 1997 A Review of the Recent Behavior of M2 Demand Yash P. Mehra
Summer 1997 Testing Long-Run Neutrality Mark W. Watson
Robert G. King
Spring 1997 The Case for a Monetary Rule in a Constitutional Democracy Robert L. Hetzel
Winter 1997 Monetary Policy Comes of Age: A 20th Century Odyssey Marvin Goodfriend
Fall 1996 Central Banking in a Democracy Alan S. Blinder
Fall 1996 Some Not-So-Unpleasant Monetarist Arithmetic Michael Dotsey
Summer 1996 Monetary Policy and Long-Term Interest Rates Yash P. Mehra
Spring 1996 Limits on Interest Rate Rules in the IS Model Robert G. King
William Kerr
Winter 1996 Foreign Exchange Operations and the Federal Reserve Marvin Goodfriend
J. Alfred Broaddus, Jr.
Winter 1996 Long-Term Interest Rates and Inflation: A Fisherian Approach Peter N. Ireland
Fall 1995 Was the Disinflation of the Early 1980s Anticipated? Jed L. DeVaro
Michael Dotsey
Summer 1995 Some Key Empirical Determinants of Short-Term Nominal Interest Rates Yash P. Mehra
Spring 1995 Reflections on Monetary Policy J. Alfred Broaddus, Jr.
Spring 1995 An Index of Leading Indicators for Inflation Roy H. Webb
Tazewell S. Rowe
Winter 1995 An Empirical Measure of the Real Rate of Interest Robert M. Darin
Robert L. Hetzel
Winter 1995 The Rational Expectations Hypothesis of the Term Structure, Monetary Policy, and Time-Varying Term Premia Michael Dotsey
Christopher Otrok
Fall 1994 An Error-Correction Model of the Long-Term Bond Rate Yash P. Mehra
Fall 1994 Medical Care Price Indexes Robert F. Graboyes
Summer 1994 A Shift-Adjusted M2 Indicator for Monetary Policy Robert M. Darin
Robert L. Hetzel
Winter 1994 M2 and Monetary Policy: A Critical Review of the Recent Debate Michael Dotsey
Summer 1993 Economic Quarterly: A Quantity Theory Framework for Monetary Policy Robert L. Hetzel
Winter 1993 Economic Quarterly: Price Stability Under Long-Run Monetary Targeting Peter N. Ireland
Winter 1993 Economic Quarterly: Interest Rate Policy and the Inflation Scare Problem: 1979-1992 Marvin Goodfriend
Issue Title Author(s)
1992 A Simple Model of Irving Fisher's Price-Level Stabilization Rule Thomas M. Humphrey
1992 How Useful Is M2 Today? Robert L. Hetzel
1992 Has M2 Demand Become Unstable? Yash P. Mehra
1992 Oil Shocks, Monetary Policy, and Economic Activity Michael Dotsey
Max Reid
1992 In Search of a Stable, Short-Run M1 Demand Function Yash P. Mehra
1992 Indexed Bonds as an Aid to Monetary Policy Robert L. Hetzel
1991 The Reaction of Interest Rates to the Employment Report: The Role of Policy Anticipations Timothy Q. Cook
Steven Korn
1991 Monetary Policy and Operating Procedures in New Zealand Michael Dotsey
1991 An Error-Correction Model of U.S. M2 Demand Yash P. Mehra
1990 Credit Controls: 1980 Stacey L. Schreft
1990 Reflections on the Strategy of Monetary Policy Robert P. Black
1990 Fisherian and Wicksellian Price-Stabilization Models in the History of Monetary Thought Thomas M. Humphrey
1990 Free Enterprise and Central Banking in Formerly Communist Countries Robert L. Hetzel
1990 A Mandate for Price Stability Robert L. Hetzel
1990 Maintaining Price Stability: A Proposal Robert L. Hetzel
1990 In Support of Price Stability Robert P. Black
1989 Some Further Results on the Source of Shift in M1 Demand in the 1980s Yash P. Mehra
1989 M2 and Monetary Policy Robert L. Hetzel
1989 Determinants of the Federal Funds Rate: 1979-1982 Timothy Q. Cook
1989 Monetary Aggregates: A User's Guide John R. Walter
1988 Commodity Prices as Predictors of Aggregate Price Change Roy H. Webb
1988 Rival Notions of Money Thomas M. Humphrey
1988 The Forecast Performance of Alternative Models of Inflation Yash P. Mehra
1988 On Recognizing Inflation William E. Cullison
1988 The Federal Reserve Act of 1913 in the Stream of U.S. Monetary History James Parthemos
1988 Financial Deregulation, Monetary Policy, and Central Banking Marvin Goodfriend
Robert G. King
1987 The Fed's Anti-Inflationary Strategy: Is it Adequate? Robert P. Black
1987 The Case for Rules in the Conduct of Monetary Policy: A Concrete Example Bennett T. McCallum
1987 Henry Thornton: Seminal Monetary Theorist and Father of the Modern Central Bank Robert L. Hetzel
1987 Swiss and United States Monetary Policy: Has Monetarism Failed? George Rich
1986 Japanese Monetary Policy, A Comparative Analysis Michael Dotsey
1986 Federal Funds: Instrument of Federal Reserve Policy Marvin Goodfriend
1986 The Discount Window David L. Mengle
1986 Monetary Policy in the Early 1980s Robert L. Hetzel
1986 Real Budget Deficit Implications of Gramm-Rudman-Hollings William G. Dewald
1985 CBO and OMB Projections, Adjusted for Inflation, Show Federal Budget Deficit under Control William G. Dewald
1985 The Monetary Control Act and the Role of the Federal Reserve in the Interbank Clearing Market Anatoli Kuprianov
1985 The Evolution and Policy Implications of Phillips Curve Analysis Thomas M. Humphrey
1985 Inflationary Expectations, Money Growth, and the Vanishing Liquidity Effect of Money on Interest: A Further Investigation Yash P. Mehra
1984 Base Drift and the Longer Run Growth of M1: Experience from a Decade of Monetary Targeting J. Alfred Broaddus, Jr.
Marvin Goodfriend
1984 The Fed's Mandate: Help or Hindrance? Robert P. Black
1984 The Promises and Pitfalls of Contemporaneous Reserve Requirements for the Implementation of Monetary Policy Marvin Goodfriend
1984 The 1983 M1 Seasonal Factor Revisions: An Illustration of Problems That May Arise in Using Seasonally Adjusted Data for Policy Purposes Timothy Q. Cook
1983 Empirical Comparisons of Credit and Monetary Aggregates Using Vector Autoregressive Methods Edward K. Offenbacher
Richard D. Porter
1983 Money, Credit, and Federal Reserve Policy: Reply to Porter and Offenbacher Benjamin M. Friedman
1983 Response to Friedman Edward K. Offenbacher
Richard D. Porter
1983 The Relationship between Money and Expenditure in 1982 Robert L. Hetzel
1981 A Prescription for Monetary Policy 1981 Marvin Goodfriend
1981 Inflation and Monetary Growth: Experience in Fourteen Countries of Europe and North America Since 1958 Richard T. Selden
1981 Monetary Policy - The Possible and the Impossible Robert P. Black
1981 Monetary Policy and Economic Performance, Summer 1976-November 1980: An Overview Robert E. Weintraub
1981 Keynes on Inflation Thomas M. Humphrey
1981 The Quantity Theory Tradition and the Role of Monetary Policy Robert L. Hetzel
1980 Eliminating Runaway Inflation: Lessons from the German Hyperinflation Thomas M. Humphrey
1980 Current Issues in Monetary Control William Poole
1980 Depression or Price Controls: A Fictitious Dilemma for Anti-Inflation Policy Roy H. Webb
1980 Bank Profits and Inflation Henry C. Wallich
1979 The Persistence of Inflation Thomas M. Humphrey
1979 The Interest Cost-Push Controversy Thomas M. Humphrey
1978 Some Recent Developments in Phillips Curve Analysis Thomas M. Humphrey
1977 Two Views of Monetary Policy: The Attwood-Mill Debate Revisited Thomas M. Humphrey
1977 On Cost-Push Theories of Inflation in the Pre-War Monetary Literature Thomas M. Humphrey
1976 A Monetarist Model of World Inflation and the Balance of Payments Thomas M. Humphrey
1976 Federal Deficits, Inflation, and Monetary Growth: Can They Predict Interest Rates? William D. Jackson
1976 Some Current Controversies in the Theory of Inflation Thomas M. Humphrey
1976 Predicting the Rate of Inflation in 1976 Robert L. Hetzel
1975 A Monetarist Model of the Inflationary Process Thomas M. Humphrey
1975 The Strategy of Monetary Policy Raymond E. Lombra
Raymond G. Torto
1975 The Classical Concept of the Lender of Last Resort Thomas M. Humphrey
1974 Indexation as a Response to Inflation: An Examination James F. Tucker
1974 Factors Behind Rising Food Costs Sada L. Clarke
1974 Letter on Monetary Policy Milton Friedman
09-6
April 2009		 On the Implementation of Markov-Perfect Interest Rate and Money Supply Rules: Global and Local Uniqueness Michael Dotsey
Andreas Hornstein
09-2
March 2009		 The Optimal Rate of Inflation with Trending Relative Prices Alexander L. Wolman
07-6
December 2007		 Avoiding the Inflation Tax Huberto M. Ennis
07-4
August 2007		 Notes on the Inflation Dynamics of the New Keynesian Phillips Curve Andreas Hornstein
05-10
October 2005		 Avoiding the Inflation Tax Huberto M. Ennis
04-6
August 2004		 The Output Gap, Expected Future Inflation and Inflation Dynamics: Another Look Yash P. Mehra
04-5
June 2004		 Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria Robert G. King
Alexander L. Wolman
04-1
February 2004		 Price Stability and Japanese Monetary Policy Robert L. Hetzel
03-15
December 2003		 Real Implications of the Zero Bound on Nominal Interest Rates Alexander L. Wolman
03-11
August 2003		 Fiscal Policy and Regional Inflation in a Currency Union Margarida Duarte
Alexander L. Wolman
02-4
November 2002		 Should Optimal Discretionary Monetary Policy Look at Money? Michael Dotsey
Andreas Hornstein
02-3
August 2002		 The Taylor Principle, Interest Rate Smoothing and Fed Policy in the 1970s and 1980s Yash P. Mehra
01-8
October 2001		 The Pitfalls of Monetary Discretion Aubhik Khan
Robert G. King
Alexander L. Wolman
01-5
August 2001		 The Taylor Principle, Interest Rate Smoothing and Fed Policy in the 1970s and 1980s Yash P. Mehra
01-2
April 2001		 The Case for Price Stability Marvin Goodfriend
Robert G. King
01-1
January 2001		 Financial Stability, Deflation, and Monetary Policy Marvin Goodfriend
00-10
October 2000		 Optimal Monetary Policy Aubhik Khan
Robert G. King
Alexander L. Wolman
00-9
August 2000		 The Behavior of the Real Rate of Interest Over the Business Cycle Michael Dotsey
Brian Scholl
00-3
August 2000		 Overcoming the Zero Bound on Interest Rate Policy Marvin Goodfriend
99-4
July 1999		 The Role of a Regional Bank in a System of Central Banks Marvin Goodfriend
98-5
June 1997		 The New Neoclassical Synthesis and The Role of Monetary Policy Marvin Goodfriend
Robert G. King
97-4
April 1997		 A Framework for the Analysis of Moderate Inflations Marvin Goodfriend
97-3
March 1997		 The Bond Rate and Actual Future Inflation Yash P. Mehra
96-1
February 1996		 Stopping Inflations, Big and Small Peter N. Ireland
95-3
May 1995		 A Federal Funds Rate Equation Yash P. Mehra
95-1
January 1995		 Optimal Disinflationary Paths Peter N. Ireland
94-8
July 1994		 Forecasts of Inflation from VAR Models Roy H. Webb
94-4
March 1994		 The Welfare Cost of Inflation in General Equilibrium Michael Dotsey
Peter N. Ireland
93-1
February 1993		 Liquidity Effects and Transactions Technologies Michael Dotsey
Peter N. Ireland
92-2
July 1992		 Deficits and Long-Term Interest Rates: An Empirical Note Yash P. Mehra
91-4
February 1991		 Money, Trade Credit and Asset Prices Jeffrey M. Lacker
Stacey L. Schreft
91-1
January 1991		 Welfare-Improving Credit Controls Stacey L. Schreft
90-12
November 1990		 Hypothesis Testing and Finite Sample Properties of Generalized Method of Moments Estimators: A Monte Carlo Study Ching-Sheng Mao
90-7
September 1990		 Wicksell's Monetary Framework and Dynamic Stability Thomas M. Humphrey
90-6
August 1990		 Interest Rates and the Conduct of Monetary Policy Marvin Goodfriend
90-1
February 1990		 Interest Rate Rules and Nominal Determinacy John H. Boyd, III
Michael Dotsey
89-5
December 1989		 The Credibility of THE WALL STREET JOURNAL in Reporting the Timing and Details of Monetary Policy Events Timothy Q. Cook
Thomas K. Hahn
89-2
April 1989		 Cointegration and a Test of the Quantity Theory of Money Yash P. Mehra
88-7
March 1989		 Determinants of the Federal Funds Rate: 1979 - 1982 Timothy Q. Cook
88-6
August 1988		 On Recognizing Inflation William E. Cullison
88-5
February 1988		 Central Banking Under the Gold Standard Marvin Goodfriend
88-4
July 1988		 The Effect of Changes in the Federal Funds Rate Target on Market Interest Rates in the 1970s Timothy Q. Cook
Thomas K. Hahn
87-5
October 1987		 Monetary Control under Alternative Operating Procedures Michael Dotsey
87-3
July 1986		 Interest Rate Smoothing and Price Level Trend-Stationarity Marvin Goodfriend
86-6
October 1986		 A Critique of Theories of Money Stock Determination Robert L. Hetzel
86-5
September 1986		 The Information Content of Discount Rate Announcements and Their Effect on Market Interest Rates Timothy Q. Cook
Thomas K. Hahn
86-4
July 1986		 Interest Rate Smoothing and Price Level Trend-Stationarity Marvin Goodfriend
86-2
June 1986		 The Reaction of Interest Rates to Unanticipated Federal Reserve Actions and Statements, 1977-1984: Implications for the Money Announcement Controversy Timothy Q. Cook
Thomas K. Hahn
85-7
August 1985		 Monetary Mystique: Secrecy and Central Banking Marvin Goodfriend
85-4
June 1985		 Monetary Policy, Secrecy, and Federal Funds Rate Behavior Michael Dotsey
85-3
November 1985		 The Recent Financial Deregulation and the Interest Elasticity of the Simple M1 Demand Function: An Empirical Note Yash P. Mehra
85-1
January 1985		 Base Drift and the Longer Run Growth of M1: Experience From a Decade of Monetary Targeting J. Alfred Broaddus, Jr.
Marvin Goodfriend
85-2
January 1985		 Financial Innovation in the United States -- Background, Current Status and Prospects J. Alfred Broaddus, Jr.
84-8
September 1984		 Informational Implications of Interest Rate Rules Michael Dotsey
Robert G. King
84-7
October 1984		 Inadequate Tests of the Rationality of Expectations Roy H. Webb
84-5
September 1984		 Fisher, Thornton and the Analysis of the Inflation Premium William Beranek
Thomas M. Humphrey
Richard H. Timberlake, Jr.
84-4
September 1984		 A Weekly Perfect Foresight Model of the Nonborrowed Reserve Operating Procedure Marvin Goodfriend
Gary Anderson
Anil Kashyap
George Moore
Richard D. Porter
84-3
June 1984		 The Lender of Last Resort: A Historical Perspective Thomas M. Humphrey
Robert E. Keleher
84-2
May 1984		 The Formulation of Monetary Policy Robert L. Hetzel
84-1
May 1984		 Monetary Policy in the Early 1980's Robert L. Hetzel
83-3
March 1983		 Measurement Error and a Reinterpretation of the Conventional Money Demand Regression Marvin Goodfriend
83-2
January 1983		 The Effects of Cash Management Practices on the Demand for Demand Deposits Michael Dotsey
83-1
January 1983		 A Historical Assessment of the Rationales and Functions of Reserve Requirements Marvin Goodfriend
Monica Hargraves
81-2
September 1981		 Discount Window Borrowing, Monetary Policy, and the Post-October 6, 1979, Federal Reserve Operating Procedure Marvin Goodfriend
81-1
January 1981		 Discount Window Borrowing, Monetary Policy, and the Post-October 6, 1979, Federal Reserve Operating Procedure Marvin Goodfriend
79-5
September 1979		 An Alternate Method of Estimating the Cagan Money Demand Function in Hyperinflation Under Rational Expectations Marvin Goodfriend
79-2
March 1979		 A Note on the Neutrality of Temporary Monetary Disturbances Marvin Goodfriend
Robert G. King
78-2
February 1978		 Uncertain Inflation, Systematic Risk, and the Capital Asset Pricing Model Thomas A. Lawler
78-1
January 1978		 Federal Reserve Policy Strategy and Interest Rate Seasonality Thomas A. Lawler
77-3
December 1977		 The Risk-Free U.S. Bond Rate: Errors in Construction and Use in Econometric Work Patric H. Hendershott
Timothy Q. Cook
74-4
June 1974		 Alternate Reserve Concepts as Operating Targets in Monetary Policy Implementation: Specification of the Structural Model Joseph M. Crews
Glenn C. Picou
74-2
April 1974		 Alternative Optimal Open Market Strategies: A Classical Optimization Certainty Equivalence Approach Joseph M. Crews
73-3
November 1973		 The Cost of Capital, the Desired Capital Stock, and a Variable Investment Tax Credit as a Stabilization Tool Roger N. Waud
Glenn C. Picou
73-2
October 1973		 Monetary Policy, Bank Credit, and Total Credit: A Preliminary Analysis J. Alfred Broaddus, Jr.