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
1988 Quarter 2 | vol. 24, No. 2top
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
1988 Quarter 3 | vol. 24, No. 3top
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
1988 Quarter 4 | vol. 24, No. 4top
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
1987 1988 1989 | top