Seven possible nominal variables are considered as candidates to be the anchor or target for monetary policy. The context is countries in…
With America now perilously close to default, here's where I sense we stand. My observations may be off as I have only had a brief time in…
What's the most powerful political force in the world? Some of you might say it's the bond market. Others might nominate the resurgence of…
With tempers near a boiling point and the risk growing that the United States could default on its debt obligations, it is time for a truce…
As the debt negotiators square off in Congress, much attention will focus on the size of the 10-year budget deal they come up with. As…
Then-Secretary of Defense Robert Gates traveled to Brussels in June, where he warned European allies of the “dwindling … patience in the U.…
It's hard to remember a simmering crisis when America's political leaders have painted themselves into so many corners, but that's where we…
Background: With the introduction of Part D drug benefits, Medicare began to collect information on diagnoses, treatments, and clinical…
The BP Deepwater Horizon oil spill highlighted the glaring weakness in the current liability and regulatory regime for oil spills and for…
Movements in asset prices are a major risk confronting individuals. This paper establishes new asset pricing results when agents differ in…