Coherence and the credibility of convertibility announcements
Article Abstract:
Credibility depends on the economic institution with coherent policies, which the government should establish to keep financially motivated outside observers, who are also called Fed watchers, from exploiting the weakness of the policy for their advantage. Policies are made coherent with the policymakers' recognition of arbitrage opportunities in Fed watching activities. This consideration enables policymakers to predict the rational moves of Fed watchers and neutralizes the policies' strategies.
Publication Name: Journal of International Money and Finance
Subject: Economics
ISSN: 0261-5606
Year: 1997
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It ain't the things you don't know that hurt you, it's the things you know that ain't so
Article Abstract:
The Council of Economic Advisers' role of advising on policies to achieve macroeconomic stability is affected by other government bodies advising on economic decisions. The CEA, however, possesses several competitive advantages. It is aware of the effects of incentives, such as incentives behaviour resulting from well-intended policies. It understands the results of general equilibrium and insists on cost-benefit analysis. The CEA also recognizes the difference between demand and supply.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1997
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Not All Things to All Men
Article Abstract:
Banks will require accurate and efficient means of measuring financial performance. Reasons why stable profit patterns may no longer be the norm are cited. Banks must learn from retailers and manufacturers. Specialization will be a growing trend. Only the very largest banks will provide comprehensive services to clients.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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