Monetary base growth, deposit growth, and inflation in the postwar United States

Article Abstract:

Monetary base growth and non-interest bearing demand deposit activity are shown through empirical research to have a positive impact on inflation in the post-World War II United States. Interest-bearing transactions in M1 and M2 deposit categories indicate no effect on inflation. The relationship between demand deposits and inflation was most significant in the post-Bretton Woods period. The M1 A-transactions aggregate hypothesis is favored by a model using oil prices and lagged inflation as control variables. The significance of hypothesis tests of money demand specification concerning price level and inflation is emphasized in the results.

Models, Inflation (Finance), Bank deposits, Money demand, Inflation (Economics)

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After the crash: an augmented risk of recession

Article Abstract:

The stock market crash of October 1987 has increased the chances that the US may have an economic recession. The factors that may bring on a recession are a worldwide decline in real wealth, declining private sector spending following the crash, and the US fiscal deficit. While the economic downturn may not be particularly severe, the long-term structural problems of fiscal deficits and dependence on foreign capital must be addressed.

Budget deficits, Stock Market Crash, 1987

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Wall Street's patriot games

Article Abstract:

The long-term effects of the terrorist strikes against the US on the New York Stock Exchange are discussed. The increased volatility and uncertainty in markets and the actions of the US government to support Wall Street are examined.

Finance, Cover Story, Stock-exchange, Stock exchanges, Speculation, Wall Street, Terrorism, Credit market, Credit markets

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