Deciding to undertake a series of tightening actions current distinctive challenges for Federal Reserve policymakers. Using a wide range of economic and monetary market metrics, this article examines how the economy and monetary markets developed in response to the 5 tightening episodes enacted by the FOMC since 1983. The primary goal is to check the most-latest episode, from December 2015 to December 2018, with the previous four episodes. The findings in this article indicate that the present episode bears some resemblance to previous Fed tightening episodes, but additionally differs in several key dimensions.
Using micro data on the 1995 cohort of Italian high school graduates, this paper studies the connection between the type of highschool attended (general versus technical; private versus public) and indicators of subsequent efficiency. Simultaneity issues that doubtlessly bias this sort of exercise are tackled by instrumental variables...Read More