This paper uses real-time briefing forecasts prepared for the Federal Open Market Committee (FOMC) to provide estimates of historical changes in the design of U.S. moneta[...]

This paper summarizes the international evidence on the performance of quantitative easing (QE) as a monetary policy tool when conventional policy rates are constrained b[...]

The authors document the research output of 34 central banks from 1990 to 2003, and use proxies of research inputs to measure the research productivity of central banks o[...]

Freeman (1999) proposes a model in which discount window lending and open market operations have different effects. This is important because in most of the literature, t[...]

The authors investigate the implications of house-price bubbles for the optimal inflation-target horizon using a dynamic general-equilibrium model with credit frictions, [...]

While a number of central banks publish their own business conditions indicators that rely on non-random sampling, knowledge about their statistical accuracy has been lim[...]

The author proposes a new test for financial contagion based on a non-parametric measure of the cross-market correlation. The test does not depend on the assumption that [...]