Recently added articles from Federal Reserve Bank of Minneapolis Quarterly Review:
If exchange rates are random walks, then almost everything we say about monetary policy is wrong *.
Jul 01, 2008; Alvarez, Fernando ... The key question asked of standard monetary models used for policy analysis is, How do changes in short-term interest rates affect the economy? The standard answer built into these models is that such policy changes affect the economy by changing the means of macroeconomic aggregates and ...
Back to the future with Keynes *.
Jul 01, 2008; Ohanian, Lee E. ... In the early stages of the Great Depression, John Maynard Keynes took time out from his role as a policy adviser, research economist, and economic journalist to write "Economic Possibilities for our Grandchildren," an essay presenting his forecasts for the world economy of the 21st ...
