Showing results 1 - 6 of 6
| Julio Rotemberg
The Trans-Pacific Partnership and the Management of Globalization. Julio Rotemberg, March 2016, Case, "No Description" Link
| Julio Rotemberg
The Federal Reserve’s Abandonment of its 1923 Objectives of Monetary Policy. Julio J. Rotemberg, July 31, 2015, Paper. "The “Guides to Credit Policy” in the Federal Reserve’s Annual Report of 1923 specified that interest rates should be set so as to balance the benefits of meeting the credit needs of business with the dangers of speculative credit. This paper uses FOMC transcripts to study when these two objectives of monetary policy (meeting…
| Julio Rotemberg
Group Learning, Wage Dispersion, and Nonstationary. Julio J. Rotemberg, October 15, 2014, Paper. "It is shown that differences in beliefs can be an important source of inequality even if everyone is equally productive and people are reasonably sophisticated in the way that they learn about their economic environment. As is standard in the search literature, people believe that the wage offers they obtain while searching for a job are drawn from…
| Julio Rotemberg
The Federal Reserve’s Abandonment of Its 1923 Principles. Julio J. Rotemberg, September 1, 2014, Paper. “This paper studies the persistence and some of the consequences of the eventual abandonment by the FOMC of the principles embedded in the Federal Reserve’s Tenth Annual Report of 1923. The three principles I focus on are 1) the discouraging of speculative lending by commercial banks, 2) the desire to meet the credit needs of business and 3)…
| Julio Rotemberg
Japan: Betting on Inflation? Julio J. Rotemberg, February 2014, Case. "The case focuses on the challenges still confronting Prime Minister Shinzo Abe at the end of 2013, a year after he has been in office. It also gives an overview of Japan's earlier economic performance, focusing primarily on the period after it suffered a stock market and real estate crash in 1989-1992. During his first year in office, Abe introduced three sets of policies…
| Julio Rotemberg
Shifts in U.S. Federal Reserve Goals and Tactics for Monetary Policy: A Role for Penitence? Julio J. Rotemberg, Fall 2013, Paper. "This paper considers some of the large changes in the Federal Reserve's approach to monetary policy. It shows that, in some important cases, critics who were successful in arguing that past Fed approaches were responsible for mistakes that caused harm succeeded in making the Fed averse to these approaches. This can…