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Money, Financial Markets, and Monetary Policy :: Related Articles

 
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Title Date Publication Author(s)
A Hitchhiker's Guide to the Current Account Problem
October 1, 2004 Economic Commentary Humpage Owen F.
Abstract:
The United States has run a current account deficit for the past 20 years, and, as a consequence, foreigners now hold unprecedented financial claims on the United States. At some point, foreigners will become reluctant to hold these claims and will set into motion a series of corrective economic adjustments. This Economic Commentary describes the interaction between our current account deficits and the broader economy and explains the problem that continued deficits pose.
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Per Capita Income Growth and Disparity in the United States, 1929â??2003 top
August 15, 2004 Economic Commentary Gomme Paul/Rupert Peter
Abstract:
Economic theory says the average income of different regions should grow closer over time. Within the United States and across some of the richer countries, evidence suggests this is true.
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Island Money
February 1, 2004 Economic Commentary Bryan, Michael F.
Abstract:
On a small group of islands in the South Pacific, the people use a â??moneyâ?? so astonishing it often gets mentioned in classroom discussions on the subject. This Commentary takes a closer look at the stone money of Yap and asks what such an odd form of money can teach us about our own.
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The Trime
January 15, 2004 Economic Commentary Bryan, Michael F.
Abstract:
You might not have heard of the trime, the tiny 3-cent silver coin minted in the United States from 1851 to 1873, but it may have played a big role in shaping the kind of money you carry around in your wallet today.
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Arbitrage: The Key to Pricing Options
January 1, 2004 Economic Commentary Nosal, Ed/Wang, Tan
Abstract:
Arbitrage has become associated in popular attitudes with the most ruthless and profit-driven of human impulses, but the opposite reputation might be more well-deserved. The ability to arbitrage is essential for the efficient operation of markets. An interesting application of the principle of arbitrage arose when it provided the breakthrough insight in economistsâ?? solution to a formerly intractable problem: how to properly price the emergent financial instruments known as options.
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