Money and Business Cycles

Gridlock’s Gone, Now What?

“…2 Other studies, to be discussed, suggest a close relationship between political gridlock and the potential for enactment of legislation. Together, these studies show why analysts closely track the political environment before formalizing investment recommendations.…”

The future of monetary aggregates in monetary policy analysis

“…Brunner (1961, p. 53), Meltzer (1963, p. 322), Friedman (1961a, pp. 461-463), Friedman and Schwartz (1963a). (The key passage describing these ideas cited in Goodfriend's fn.…”

“…In that case, the answers to (a)- (d) above are all "no," and, insofar as there is a role for money in monetary analysis, it must be based on a new justification different from those advanced by monetarists. Another answer is that the differences between current models and their monetarist antecedents are more apparent than real, and so an eclectic interpretation of current models indicates that they 3 As well as being the tenth anniversary of the conference-presentation and publication of the Taylor rule paper, 2002Taylor rule paper, -2003 is the 40th anniversary of the NBER Conference on the State of Monetary Economics, held on April 13-14, 196213-14, , whose proceedings (published February 1963 included Friedman and Schwartz (1963a). According to Brunner (1971a, p. 35), this conference "alerted the profession to a change in the intellectual climate."…”

A Lesson to Learn From Developed Countries: The Case of State Branching Deregulation in the Us

“…31 The estimator 30 There is a consensus in the literature about how relaxed monetary policy help banks to reduce their costs. See Bernanke and Blinder (1992) also in Friedman and Schwartz (1963), Sims (1972) and Christiano and Ljungqvist (1988). 31 In addition, I have considered fix effects in all the specifications shown in Table 3.…”