scholarly journals Uncertainty regarding the effectiveness of Federal Reserve monetary policies over time in the U.S.: an exploratory empirical assessment

2019 ◽  
Vol 3 (2) ◽  
pp. 244-256 ◽  
Author(s):  
Richard J. Cebula ◽  
◽  
Robert Boylan
Keyword(s):  
Federal Reserve ◽  
Monetary Policies ◽  
Empirical Assessment ◽  
The U.S ◽  
Over Time

scholarly journals The Founding of the Federal Reserve, the Great Depression, and the Evolution of the U.S. Interbank Network

2019 ◽  
Vol 80 (1) ◽  
pp. 69-99 ◽  
Author(s):  
Matthew Jaremski ◽  
David C. Wheelock
Keyword(s):  
Great Depression ◽  
Federal Reserve ◽  
Systemic Risk ◽  
Important Determinant ◽  
Survival Rates ◽  
Financial Network ◽  
The Great Depression ◽  
Key Events ◽  
The U.S ◽  
Over Time

Financial network structure is an important determinant of systemic risk. This article examines how the U.S. interbank network evolved over a long and important period that included two key events: the founding of the Federal Reserve and the Great Depression. Banks established connections to correspondents that joined the Federal Reserve in cities with Fed offices, initially reducing overall network concentration. The network became even more focused on Fed cities during the Depression, as survival rates were higher for banks with more existing connections to Fed cities, and as survivors established new connections to those cities over time.

scholarly journals Globalization And The Federal Reserve

2011 ◽  
Vol 3 (2) ◽  
Author(s):  
Michael Cosgrove ◽  
Daniel Marsh
Keyword(s):  
Developing Countries ◽  
Free Trade ◽  
Federal Reserve ◽  
Developed Countries ◽  
Central Banks ◽  
Gains From Trade ◽  
Global Marketplace ◽  
Monetary Policies ◽  
Developed Economies ◽  
The U.S

A group of developing countries including China, India and Mexico entered the global marketplace post-1980 making a major contribution to disinflation in the U.S. and other developed countries. Movement by developing countries toward free trade led to unexpectedly large gains from specialization and exchange including the contribution to global disinflation through flows of goods, capital, technology and in particular abundant labor. These gains from trade led to a slowing in U.S. cost-push inflation pressures and enhancement of productivity gains. Gains from free trade have been widespread, with benefits accruing to both developed and developing countries in the period since 1980. In comparison, gains from trade were restricted primarily to developed economies in the 1945 to 1980 time period.The Federal Reserve and other central banks followed monetary policies conducive to the post-1980 period of disinflation but the contribution to disinflation through gains from trade does not seem to be incorporated into the monetary policy of central banks. In Japan, disinflation turned into deflation and Germanys disinflation is on the verge of doing the same. Deflation concerns are also voiced in the U.S. The premise of this paper is that the overshoot from the price stability objective to deflation fears or outright deflation on part of the Federal Reserve and other major central banks is due to gains from trade with developing countries. Policy implication -- the Federal Reserve and other central banks need to increase the quantity of money at a more rapid pace than would normally occur to account for the contribution to disinflation from gains from trade among developed and developing countries.

scholarly journals Quantitative Easing and the U.S. Stock Market: A Decision Tree Analysis

2016 ◽  
Vol 7 (2) ◽  
pp. 135-156
Author(s):  
Ramaprasad Bhar ◽  
A.G. Malliaris ◽  
Mary Malliaris
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Interest Rates ◽  
Federal Reserve ◽  
Quantitative Easing ◽  
Short Term ◽  
Federal Funds ◽  
Monetary Policies ◽  
The U.S

The Financial Crisis of 2007-09 caused the U.S. economy to experience a relatively long recession from December 2007 to June 2009. Both the U.S. government and the Federal Reserve undertook expansive fiscal and monetary policies to minimize both the severity and length of the recession.  Most notably, the Federal Reserve initiated three rounds of unconventional monetary policies known as Quantitative Easing.  These policies were intended to reduce long-term interest rates when the short term federal funds rates had reached the zero lower bound and could not become negative. It was argued that the lowering of longer-term interest rates would help the stock market and thus the wealth of consumers.  This paper investigates this hypothesis and concludes that quantitative easing has contributed to the observed increases in the stock market’s significant recovery since its crash due to the financial crisis

Transocean and the History of Tax Inversions

2018 ◽  
Vol 34 (1) ◽  
pp. 1-12
Author(s):  
Susan M. Albring ◽  
Randal J. Elder ◽  
Mitchell A. Franklin
Keyword(s):  
Multinational Corporations ◽  
Economic Impacts ◽  
Income Taxes ◽  
Tax Rates ◽  
Corporate Tax ◽  
Corporate Income Taxes ◽  
History Of ◽  
Jobs Act ◽  
The U.S ◽  
Over Time

ABSTRACT The first tax inversion in 1983 was followed by small waves of subsequent inversion activity, including two inversions completed by Transocean. Significant media and political attention focused on transactions made by U.S. multinational corporations that were primarily designed to reduce U.S. corporate income taxes. As a result, the U.S. government took several actions to limit inversion activity. The Tax Cuts and Jobs Act of 2017 (TCJA) significantly lowered U.S. corporate tax rates and one expected impact of TCJA is a reduction of inversion activity. Students use the Transocean inversions to understand the reasons why companies complete a tax inversion and how the U.S. tax code affects inversion activity. Students also learn about the structure of inversion transactions and how they have changed over time as the U.S. government attempted to limit them. Students also assess the tax and economic impacts of inversion transactions to evaluate tax policy.

Accepting Regional Zero: Nuclear Weapon Free Zones, U.S. Nonproliferation Policy and Global Security, 1957–1968

2015 ◽  
Vol 17 (2) ◽  
pp. 36-72 ◽  
Author(s):  
James Stocker
Keyword(s):  
Latin America ◽  
Nuclear Weapon ◽  
Security Policy ◽  
The United States ◽  
Nuclear Nonproliferation ◽  
Nuclear Strategy ◽  
The World ◽  
History Of ◽  
The U.S ◽  
Over Time

Nuclear weapon free zones (NWFZs) were an important development in the history of nuclear nonproliferation efforts. From 1957 through 1968, when the Treaty of Tlatelolco was signed, the United States struggled to develop a policy toward NWFZs in response to efforts around the world to create these zones, including in Europe, Africa, Latin America, and the Middle East. Many within the U.S. government initially rejected the idea of NWFZs, viewing them as a threat to U.S. nuclear strategy. However, over time, a preponderance of officials came to see the zones as advantageous, at least in certain areas of the world, particularly Latin America. Still, U.S. policy pertaining to this issue remained conservative and reactive, reflecting the generally higher priority given to security policy than to nuclear nonproliferation.

Neighborhood Firearm Victimization Rates and Social Capital Over Time

2015 ◽  
Vol 30 (1) ◽  
pp. 81-96 ◽  
Author(s):  
Justin C. Medina
Keyword(s):  
Social Capital ◽  
Longitudinal Data ◽  
Theoretical Framework ◽  
Policy Planning ◽  
Regression Analyses ◽  
Neighborhood Social Capital ◽  
The Relationship ◽  
The U.S ◽  
Over Time ◽  
Victimization Rates

Distribution of firearm victimization is not equal within cities. Victimization can persistently concentrate in a small number of neighborhoods, while others experience very little violence. Theorists have pointed to one possible explanation as the ability of groups to control violence using social capital. Researchers have shown this association at the U.S. county, state, and national levels. Few studies, however, have examined the relationship between neighborhood social capital and violence over time. This study uses longitudinal data to ask whether neighborhood social capital both predicts and is influenced by firearm victimization over 3 years in Philadelphia. The results of several regression analyses suggest that trusting others and firearm victimization are inversely related over time. Implications for neighborhood policy planning and social capital as a theoretical framework are discussed.

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