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Articles by Brian C. Albrecht
Reserve Banks brought monetarism and rational expectations into the monetary policy discussion, and, more recently, they have fostered dissenting views on the Fed’s role as a lender of last resort and the effectiveness of quantitative easing.
Even if the reduction of trade barriers accounts for only a small part of the observed increase in growth, the cumulative gains from reform appear to be substantial.
In a new NBER working paper, Felipe Benguria and Alan M. Taylor consider whether financial crises usually stem from the demand or supply side of the market.