The dairy price support program: a study of misdirected economic incentives

Dairy products industry ; Agricultural prices

The farm sector in the 1980s: sudden collapse or steady downturn?

Farm income ; Agriculture

Estimating exchange rate effects on exports: a cautionary note

Free trade ; Foreign exchange rates

Factors behind the rise and fall of farmland prices: a preliminary assessment

Agricultural prices

Monetary policy on the 75th anniversary of the Federal Reserve System: summary of conference proceedings

Monetary theory ; Federal Reserve System

A NOTE ON THE SPECIFICATION OF WAGE RATES IN COST-PUSH MODELS OF FOOD PRICE DETERMINATION

Demand and Price Analysis,

Predicting interest rates: a comparison of professional and market- based forecasts

Interest rates ; Forecasting

Why do food prices increase?

Food prices

Prospects for international policy coordination: some lessons from the EMS

International economic relations ; European Monetary System (Organization)

Selecting an intermediate target variable for monetary policy when the goal is price stability

Conventional investigations of the "best" intermediate target variable for monetary policy have used a single criterion: the best fit between the behavior of an aggregate and that of some goal variable such as nominal spending or the aggregate price level. Ignored in this type of study, however, is the ability of the central bank to control the behavior of the aggregate which has the best fit relative to the goal variable. This paper treats the issue of monetary control explicitly and selects an intermediate target variable on the basis of a joint criterion of monetary control and relationship with the aggregate price level. The results indicate that all of the traditional simple sum aggregates perform poorly relative to Divisia aggregates or the currency-equivalent (CE) measure recently proposed by Rotemberg, et al.Monetary policy ; Prices