In recent years, increasing attention has been given to analyzing influences of expectations
and monetary actions on the course of economic activity. This article examines the response …

The November 1968 and November 1969 issues of this Review included articles winch
developed and explained in some detail a procedure for testing the relative importance of …

The attempt by regulatory authorities to maintain a constant nominal rate of return to utilities
on the historic cost of capital will, in a period of accelerating inflation, lead to a decline in the …

N RECENT YEARS there has been a noticeable shift in professional opinion with respect to
the impact of Federal Reserve actions on national income. More economists now …

In a world of perfect knowledge of the financial and economic interrelationships in an
economy, one would not need an indicator of monetary influence. Given a particular monetary …

I–Introduction The postwar growth of Japan is an authenti C economic miracle. Since recovering
her prewar levels of per capita production and income in 1953, the growth rate in real …

The stock market model says that stock prices are directly determined by current interest
rates and current and lagged earnings. Interest rates are determined, in turn, by changes in …

… Keran … Keran, 1969. "Monetary and fiscal influences on economic activity -- the
historical evidence," Review, Federal Reserve Bank of St. Louis, vol. …

This slim (169-page) book raises some fundamental issues in monetary theory and policy. As
the subtitle indicates, Professor Hendershott's objective is to construct a variable which will …

ii IENDERSHOTT raises some mnterestmg issues with respect to my earlier critique of his
neutralized money stock concept. Before considering the specific issues he raises, it would be …