Economic Commentary
Providing you with in-depth analysis of current economic and financial issues.
1984
- November 5, 1984
- A Problem of Seasonal Adjustment
- A discussion of how new financial instruments have made accurate seasonal adjustment of monetary data more difficult since 1980. (PDF)
- October 22, 1984
- Flat Taxes and the Limits to Reform
- A discussion of proposals to reform the federal income tax system, and an analysis of the economic and political issues surrounding flat-tax reform proposals. (PDF)
- October 8, 1984
- Dimensions in Cleveland’s Economy
- An examination of the dynamics of business activity in Cleveland, Ohio, using data about the formation of new businesses and about the expansion, contraction, and closing of existing businesses in seven sectors of the local economy. (PDF)
- September 24, 1984
- Should We Return to Fixed Exchange Rates?
- An examination of arguments for and against the suggestion that nations should return to a Bretton Woods-type system of fixed exchange rates. (PDF)
- September 10, 1984
- The Service-Sector Recovery in Cleveland
- A discussion of factors affecting the rates of service-sector growth in Cleveland, Ohio, using national and local data to examine expenditures, linkages with manufacturing, and employment trends. (PDF)
- August 27, 1984
- The Recovery of Durable Goods: What Exhilarated the Consumer?
- An analysis of the fundamental determinants of consumer spending on postponable, high-durability goods, such as autos and household equipment, with a discussion of how these determinants apply during 1983-84. (PDF)
- August 13, 1984
- Small-Issue IDBs—Tax Policy in Search of a Focus
- An examination of the history of small-issue industrial development bonds, with an analysis of the efficiency and effectiveness of this financing method. (PDF)
- July 30, 1984
- The Costs of a Protectionist Cure
- A discussion of the price and quantity effects on the U.S. consumer of the Japanese auto industry’s voluntary export restraint program. (PDF)
- July 16, 1984
- Rate Deregulation and Deposit Shifting
- An analysis of deposit holdings of commercial banks and thrifts in the Fourth Federal Reserve District to determine the deposit growth and shifting that resulted from introduction of Super-NOWs and MMDAs. (PDF)
- July 2, 1984
- The Japanese Cost Advantage in Automobile Production
- An analysis of the Japanese advantage in auto production, with discussion of industry structure, managerial practices, production costs, and the problems involved in comparing costs with those of U.S. producers. (PDF)
- June 18, 1984
- Regional Interstate Banking
- A look at state initiatives in the interstate banking movement, including discussion about the economic and legal dimensions of regional banking pacts. (PDF)
- June 4, 1984
- Seeking a Stable Economic Environment
- An abstract based on testimony before the House Subcommittee on Domestic Monetary Policy, featuring summaries of business activity growth patterns and economic conditions in the Fourth Federal Reserve District. (PDF)
- May 21, 1984
- Nominal Income Targeting
- A description of the Federal Reserve monetary policy framework, with a suggestion that a multiyear nominal income target be viewed as a practical extension of current policy procedures. (PDF)
- May 7, 1984
- The Economy in 1984: Industry Perspectives
- A summary of forecasts made by a group of 26 economists from major firms in the Fourth Federal Reserve District, featuring their median expectations for major industries in the district. (PDF)
- April 23, 1984
- Deregulation and Deposit Pricing
- A deposit-pricing survey and comparison of 112 depository institutions in the Fourth Federal Reserve District, covering MMDAs, Super-NOWS, and CDs in an examination of the effect of interest-rate deregulation on banks and thrifts. (PDF)
- April 9, 1984
- Reorganizing the U.S. Banking Regulatory Structure
- A discussion of the changes in the structure of the banking system since the 1970s, with an emphasis on the 1984 recommendations of the Task Group on Regulation of Financial Services. (PDF)
- March 26, 1984
- The Monetary Targets in 1984
- A review of monetary targeting in recent years and a discussion of issues raised by Federal Reserve Chairman Paul Volcker’s February 1984 report to Congress on the System’s objectives for the year. (PDF)
- March 12, 1984
- Banking Without Interstate Barriers
- An examination of public policy issues related to the growth of interstate banking, such as its potential effects on concentration, competition, and soundness in the banking industry. (PDF)
- February 27, 1984
- Monetary Policy in the 1980s
- A discussion of inflation experience over the last 20 years, including Federal Reserve System monetary policy and the use of monetary targets as tools for achieving the ultimate goal of zero inflation. (PDF)
- February 13, 1984
- Collective Bargaining and Disinflation
- A discussion of wage behavior over the business cycle and of the effect of deferred wage increases, cost-of-living adjustments, and current settlements on labor union rates, using the auto industry as an example. (PDF)
- January 30, 1984
- Closely Watched Banks
- The soundness of commercial banks is a primary concern of banking regulators, investors, depositors, and the public at large. (PDF)
- January 16, 1984
- Commercial Bank Holdings of Treasury Debt
- An analysis of commercial and large-bank Treasury holdings from 1972 to 1982, with a discussion of the effect of cyclical factors on banks’ asset preferences. (PDF)
- January 3, 1984
- The International Debt Situation
- The precarious international debt situation clouds the economic outlook, worrying bank regulators and complicating international commerce. (PDF)