Economic Research and Data

Economic Review

previous1987 1988 1989next

1988 Quarter 1 | vol. 24, No. 1


Can competition among local governments constrain government spending?
by Randall W. Eberts and Timothy J. Gronberg

An examination of the relationship between the number of local governmental units and the share of personal income going to local government expenditures, considering competition among both general-purpose and single-purpose government units.

PDF file 294K

Exit barriers in the steel industry.
by Mary E. Deily

A study of how excess capacity in the steel industry has persisted because of high exit barriers that have delayed the industry's contraction; includes a discussion of the effects of current trade protection and pension policies on the size of exit barriers.

PDF file 307K

Why do wages vary among employers?
by Erica L. Groshen

A review of empirical evidence on intra- and interindustry wage differentials among industries and establishments, presenting five alternative explanations for large and persistent variance in wages across employers, as well as policy implications for the alternatives.

PDF file 1,239K

Full PDF version of this issue of the Economic Review 2,245K


1988 Quarter 2 | vol. 24, No. 2



Intervention and the dollar's decline.
by Owen F. Humpage

An analysis of U.S. foreign exchange-market intervention and its effect on dollar depreciation, finding there is no systematic relationship between intervention and daily exchange-rate movements.

PDF file 495K

Using financial data to identify changes in bank condition.
by Gary Whalen and James B. Thomson

An empirical study using an early-warning bank failure prediction model and call-report data to predict deterioration in a bank's condition.

PDF file 442K

Developing country lending and current banking conditions.
by Walker F. Todd

An examination of the evolutionary stages of the debt problem in developing countries, with a discussion of how U.S. banks and financial markets have adjusted to accommodate it and some proposed solutions to the problem.

PDF file 527K

Comparing inflation expectations of households and economists.
by James M. Hvidding

A comment on "Comparing inflation expectations of households and economists: is a little knowledge a dangerous thing?" by Michael F. Bryan and William T. Gavin, in the Economic Review of 1986, Q3.

PDF file 259K

Full PDF version of this issue of the Economic Review 1,106K


1988 Quarter 3 | vol. 24, No. 3



Rules versus discretion: making a monetary rule operational.
by John B. Carlson

A history and analysis of the debate about whether monetary policy should be conducted by rules known in advance to all or by policymaker discretion.

PDF file 700K

Actual competition, potential competition, and bank profitability in rural markets.
by Gary Whalen

An empirical study of the relationship between market concentration and bank performance in rural markets, examining both actual and potential competition and controlling for risk, market share, and simultaneity.

PDF file 587K

Getting the noise out: filtering early GNP estimates.
by John Scadding

An analysis of the U.S. Department of Commerce's provisional estimates of GNP as estimates that are contaminated with measurement error; investigates a means of adjusting the numbers to remove the error and to produce more accurate predictions of the final GNP growth estimates.

PDF file 642K

Intervention and the dollar's decline - comment.
by Owen F. Humpage

PDF file 297K

Full PDF version of this issue of the Economic Review 1,809K


1988 Quarter 4 | vol. 24, No. 4



Do the earnings of manufacturing and service workers grow at the same rate over their careers?
by Randall W. Eberts and Erica Groshen

A study indicating that service workers begin employment at a lower wage than comparable manufacturing workers, and then experience similar wage growth.

PDF file 379K

Procyclical real wages under nominal-wage contracts with productivity variations.
by James G. Hoehn

A modification of existing sticky-wage models to account for the observed cyclical behavior of real wages by means of a model that introduces productivity factors into nominal-wage contracts.

PDF file 446K

Real business cycle theory: a guide, an evaluation, and new direction.
by Alan C. Stockman

An evaluation of the state of real business cycle theory, with an outline of useful directions for further research and a discussion of economic policy implications.

PDF file 717K

Full PDF version of this issue of the Economic Review 1,206K


previous1987 1988 1989next | top